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R/€ = 15.48 Change: -0.01
R/$ = 13.30 Change: -0.03
Au 1227.12 $/oz Change: -16.99
Pt 817.00 $/oz Change: -12.27
 

Topic

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

Petra receives valid acceptances for 94.97% of rights issue shares

By: Simone Liedtke     29th June 2018 Petra Diamonds has received valid acceptances in respect of 316.92-million shares, representing about 94.97% of the rights issue shares offered in a five to eight rights issue announced in May. Further, subscribers have been procured for 16.7-million rights issue shares, for which valid... 

Tanzania's new mining rules impose restrictions on foreign banks, insurers

By: Reuters     21st February 2018 Foreign-owned banks, insurance companies and law firms could be locked out of Tanzania's mining sector as part of tough new regulations that aim to limit foreign ownership of mining-related activity. Africa's fourth-largest gold producer is seeking to take more of the profits from its vast... 

Botswana’s emerging diamond cutting and polishing firms struggling – VP Masisi

By: African News Agency      10th November 2016 Botswana Vice-President Mokgweetsi Masisi said the country’s emerging diamond cutting and polishing firms are struggling against constrained access to credit facilities, high production costs and a shortage of skilled workers. Addressing delegates to an international diamond conference which... 

$125m capital loan to strengthen Botswana diamond cutting and polishing industry

By: African News Agency      27th July 2016 The US government has guaranteed a $125-million loan that will be used to strengthen Botswana’s localised diamond cutting and polishing industries in order to create more jobs and contribute to economic growth. In a statement released on Tuesday, US overseas development financier Overseas Private... 

New funding to boost ruby mining

By: Martin Creamer     4th July 2016 Coloured-gemstone miner and marketer Gemfields announced on Monday that it had finalised four new debt financing facilities totalling $65-million. Gemfields CFO Janet Boyce said Gemfields now had the necessary funding to increase its rough ruby production to 20-million carats a year and rough... 

PTM terminates $195m loan facility with banks

By: Natalie Greve     3rd November 2014 Toronto-listed Platinum Group Metals (PTM) has terminated the mandate for a term loan facility entered into with a syndicate of lenders and announced on November 11, 2013. The group said, at the time, that Barclays Bank, Absa Corporate and Investment Bank, Caterpillar Financial and Societe... 

Petra secures additional financing after delivering highest quarterly output in Q1

By: Natasha Odendaal     27th October 2014 As London-listed Petra Diamonds delivered strong output and a solid financial performance during the first quarter of the year, its lenders have agreed to hike the company’s financing facilities to about $260-million, at reduced lending rates. The diamond producer on Monday explained that the... 

Cause for concern as ‘rebranded’ silver fix goes live?

By: Henry Lazenby     18th August 2014 Several bullion dealers and analysts have in recent days voiced their opinions after the new London Bullion Market Association (LBMA) Silver Price was launched on Friday, arguing for increased transparency. Bullion dealer Sharps Pixley CEO Ross Norman on Friday said “as a first effort they got a... 

OceanaGold secures $200m revolver to replace existing facilities

By: Henry Lazenby     27th June 2014 Triple-listed OceanaGold, which operates gold mines in New Zealand and the Philippines, on Friday reported that it had secured a new $200-million corporate revolving credit facility to replace existing facilities, due to mature on June 30, 2015. The new facility would be used to repay the... 

Full transparency needed in gold, platinum price determinations in wake of UK manipulation disclosure

By: Martin Creamer     30th May 2014 Full transparency is needed in the determination of the gold price and platinum price following the worrying manipulation finding of the UK’s Financial Conduct Authority (FCA) in the case of gold. To restore credibility, a bright searchlight needs to be kept on both pricing systems, which impact... 

Full transparency needed in gold, platinum price determinations  

By: Martin Creamer     26th May 2014 Full transparency is needed in the determination of the gold and platinum prices following the worrying manipulation finding of the UK’s Financial Conduct Authority (FCA) in the case of gold. To restore credibility, a bright searchlight needs to be kept on both pricing systems, which impact the... 

Patriot Coal emerges a well-capitalised private firm after Chapter 11 recast

By: Henry Lazenby     19th December 2013 Eastern US-focused coal producer Patriot Coal on Wednesday announced that it had emerged from an 18-month long Chapter 11 reorganisation as a well-capitalised private company, with a competitive cost structure and a streamlined operating profile. Patriot said it had completed the final steps in... 

Africa Wide shareholding in Maseve diluted to 22.5%

By: Leandi Kolver     12th November 2013 Wesizwe Platinum subsidiary Africa Wide Mineral Prospecting and Exploration’s 26% shareholding in Maseve Investments would be diluted to 22.5%, owing to the subsidiary’s decision not to fund a R213-million cash call for its share of a six-month forward budget for the Western Bushveld joint... 

PTM enters into $195m finance agreement for WBJV project

By: Leandi Kolver     11th November 2013 TSX- and NYSE-listed Platinum Group Metals (PTM) on Monday announced that it had entered into a new mandate letter through which it would be provided with up to $195-million in project finance to develop the Western Bushveld joint venture (WBJV) Project 1 platinum mine. Barclays Bank, Absa... 

Absa’s NewGold ETF lists on Mauritius Stock Exchange

By: Natalie Greve     18th July 2013 In its drive to further expand into African markets, Absa Bank’s corporate and investment banking division on Thursday announced that it would list its NewGold exchange-traded fund (ETF) on the Mauritius Stock Exchange (SEM), on July 26. The listing on the SEM would mark the fifth exchange... 

China’s interest in Africa picking up as its economy recovers

By: Keith Campbell     22nd February 2013 The year 2011 saw a staggering increase in Chinese mining investments in Africa. Whereas these had totalled some $1.5-billion at the end of 2010, by the conclusion of 2011 the figure had rocketed to $15.6-billion. Africa has become the site of almost 75% of Chinese foreign mining investment. The... 

China’s interest in Africa picking up as its economy recovers

By: Keith Campbell     22nd February 2013 The year 2011 saw a staggering increase in Chinese mining investments in Africa. Whereas these had totalled some $1.5-billion at the end of 2010, by the conclusion of 2011 the figure had rocketed to $15.6-billion.  

$260m loan for PTM’s platinum project approved

By: Megan van Wyngaardt     6th December 2012 TSX-listed Platinum Group Metals (PTM) on Thursday reported that a syndicate of lead arrangers had obtained credit committee approval for a $260-million senior loan facility for its Western Bushveld Joint Venture (WBJV) project 1 platinum mine. The lending group consisted of Barclays Bank,... 

Credit Suisse to arrange A$19m debt for Reed’s Meekatharra

By: Esmarie Swanepoel     28th September 2012 Gold developer Reed Resources on Friday told shareholders that Credit Suisse would arrange a A$19-million debt facility to fund the working capital requirements for the Meekatharra gold project, in Western Australia. The company announced in July that it had secured a A$23-million funding... 

St Barbara/Allied merger gets court nod

By: Esmarie Swanepoel     31st August 2012 The high Court of Justice in England and Wales has approved the merger between gold miner St Barbara and Allied Gold. Under the terms of the offer, St Barbara would acquire the entire issued capital of Allied Gold for A$1.025 in cash and 0.8 shares for every Allied Gold share held. The cash... 

Allied shareholders approve St Barbara merger

By: Esmarie Swanepoel     15th August 2012 The shareholders of takeover target Allied Gold have approved a merger with fellow listed St Barbara to create a midtier gold miner with a market capitalisation of A$1-billion. St Barbara chairperson Colin Wise said on Wednesday that he was pleased with the response by Allied’s shareholders,... 

Orsu launches $90m financing for Kazakh project

By: Henry Lazenby     1st August 2012 Toronto- and London-listed Orsu Metals on Tuesday launched a $90-million financing to enable it to start construction at its Karchiga copper project, in Kazakhstan. The company said it had appointed Barclays Bank and UniCredit Bank Austria as coordinating mandated lead arrangers to arrange for a... 

AngloGold signs new $1bn credit facility, output beats target

By: Idéle Esterhuizen     23rd July 2012 South Africa-based gold major AngloGold Ashanti on Monday reported higher second-quarter production and said it had signed a new $1-billion, five-year unsecured revolving credit facility. The new facility, which matures in July 2017, replaced the existing four-year, $1-billion unsecured revolving... 

St Barbara, Allied merger to form A$1bn gold producer

By: Esmarie Swanepoel     29th June 2012 Australian gold miners St Barbara and Allied Gold Mining on Friday announced a merger to create an international midtier producer with the largest gold reserve and resource portfolio on the ASX. The combined group, with a market capitalization of A$1-billion, would produce 435 000 oz of gold in... 

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