R/€ = 14.79 Change: 0.02
R/$ = 12.63 Change: -0.05
Au 1293.90 $/oz Change: 1.02
Pt 904.50 $/oz Change: 2.81


Higher output lifts BNC’s FY17 pre-tax profit

By: Megan van Wyngaardt     30th June 2017 Bindura Nickel Corporation, a 74.43%-owned subsidiary of Aim-listed ASA Resources, on Friday reported a profit before tax of $1.4-million for the year ended March 31, up 15% from the prior year. The company's profit after tax was $609 000, compared with a profit of $649 000 the year before. 

ASA Resources appoints new board, management members to improve group structure

By: Megan van Wyngaardt     2nd May 2017 Following the recent dismissal of its CEO and FD over alleged financial irregularities, Aim-listed ASA Resource Group, is further consolidating its structure. This encompassed the removal of nonexecutive director Yuan Hu Ching, an appointee of China International Mining Group Corporation (CIMGC),... 

ASA Resources says $4.3m unaccounted for, but operations continue

By: Megan van Wyngaardt     19th April 2017 Following its decision to remove its CEO and FD over alleged financial irregularities, Aim-listed ASA Resources on Wednesday revealed that $4.3-million has been unaccounted for. The miner on Tuesday said it had removed its CEO Yat Hoi Ning and FD Yim Kwan after an investigation initiated by the... 

Zim mining achieves 3.5% growth in first half of 2015

By: David Oliveira     4th September 2015 Zimbabwe’s mining industry has slightly exceeded the mid-year growth projection of 3.1% by achieving 3.5%, largely supported by increased production in the gold, nickel, platinum and palladium sectors, says pan-African advisory firm africapractice Harare-based consultant Chiedza Danha. “Though... 

Company reports lower Zimbabwe gold sales

4th September 2015 Gold sales from pan-African multi-commodity mining and development company Mwana Africa’s Freda Rebecca mine, in Zimbabwe, dropped slightly to 57 799 oz during the financial year ended March 31, from the 58 704 oz sold during the prior financial year.  During the year under review the gold mine’s... 

Resources Watch  

By: Creamer Media Reporter      13th August 2015 This week: A ‘depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion. ArcelorMittal South Africa flags its iron-ore import plan as it seeks a new pricing deal with Kumba. And, Roytec clinches a Zimbabwe contract and now boasts a R100-million order book. 

Roytec clinches Zim contract, now boasts R100m order book 

By: Ilan Solomons     7th August 2015 Filtration and separation solutions provider Roytec completed testing and adapting a filter press system for mining company Bindura Nickel Corporation’s Trojan nickel mine, in Zimbabwe, last month. Roytec marketing and business development director Peter Sampson tells Mining Weekly that the... 

Weakened nickel, gold prices weigh on Mwana’s FY earnings

By: Natalie Greve     29th July 2015 Weakened gold and nickel prices paired with lower-than-planned production figures for the two metals have driven a decrease in the earnings of multicommodity miner Mwana Africa, narrowing group earnings before interest, taxes, depreciation and amortisation from $25-million in the 2014 financial... 

BNC’s Trojan lifts nickel output to record highs

By: Natasha Odendaal     21st July 2015 Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has achieved record production for the second consecutive year as it ramps up to steady-state output. The Zimbabwe-based group’s Trojan mine, which had completed its second full year of production since the restart... 

Mwana slashes overheads from $8.5m to $6.45m 

By: Anine Kilian     29th May 2015 Despite weakened gold and nickel commodity prices, diversified mining company Mwana Africa is aiming to increase productivity by lowering costs. Mwana Africa CEO Kalaa Mpinga tells Mining Weekly that the company has been on a cost-cutting drive for three years with company overheads having been... 

BNC closes $20m bond, progresses smelter restart plans

3rd March 2015 Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has successfully closed a $20-million bond to buy new equipment for its smelter, in Zimbabwe. BNC was planning to reopen the smelter by December.  

Progress made on Bindura smelter restart – Mwana

By: Natasha Odendaal     16th February 2015 Much progress has been made during the third quarter of the 2015 financial year to restart Bindura Nickel Corporation’s nickel smelter and refinery, in Zimbabwe, Pan-African resources group Mwana Africa said on Monday. Mwana revealed last year that the smelter at its 74.73%-owned subsidiary would... 

Mwana shareholder, director take company to court

By: Natalie Greve     10th December 2014 The China International Mining Group Corporation (CIMGC) – a “substantial” shareholder in pan-African resources group Mwana – and Mwana nonexecutive director and CIMGC associate Yat Hoi Ning have filed a petition at the High Court of Justice, Companies Court in London, against the company and... 

BNC to issue $20m bond to fund smelter restart

By: Creamer Media Reporter      1st December 2014 Bindura Nickel Corporation (BNC), a subsidiary of Mwana Africa, will issue a $20-million bond to help fund the restart of its Bindura nickel smelter, in Zimbabwe. BNC on Monday published a prospectus in relation to the bond, which would have a five-year term and which was expected to close late... 

Mwana subsidiary to issue bond to fund Bindura smelter restart

By: Creamer Media Reporter      21st November 2014 Multicommodity miner Mwana Africa’s 74.73%-owned Bindura Nickel Corporation (BNC) subsidiary has been granted prescribed asset (PA) status by the Zimbabwe Finance and Economic Development Minister Patrick Chinamasa. This would enable BNC to seek funding through the marketing of a fixed-term bond... 

Mwana gold production up at reduced cost, nickel production rising

By: Leandi Kolver     10th September 2014 Multicommodity miner Mwana Africa produced 11 314 oz of gold at its Freda Rebecca mine, in Zimbabwe, during July and August at a reduced cash cost of $854/oz, compared with an average cost of $1 078/oz during the three months ended June, Mwana CEO Kalaa Mpinga said on Wednesday. This represented... 

$26.5m restart of Zim nickel smelter under way

By: Bruce Montiea     15th August 2014 Plans are under way to restart a nickel smelter at the Zimbabwe-based Trojan nickel mine, owned by mining company Bindura Nickel Corporation (BNC), a subsidiary of pan-African multicommodity resources company Mwana Africa. The company announced in June that an independent study of an accelerated... 

Mwana swings to FY profit in ‘turning point’ year

By: Natalie Greve     9th July 2014 After posting a $43.5-million loss in 2013 as a result of a $43.7-million impairment charge on Zimbabwe subsidiary Bindura Nickel Corporation (BNC), multicommodity miner Mwana Africa has swung to a net profit of $50.6-million for the 2014 financial year. Attributable group net profit for the year... 

Zim nickel smelter to restart in H1 2015

By: Leandi Kolver     11th June 2014 JOHANNESBURG ( – Following the completion of an independent study of an accelerated restart plan for Aim-listed Mwana Africa’s 76.3%-owned, subsidiary, Bindura Nickel Corporation’s (BNC’s) nickel smelter, in Zimbabwe, the company on Wednesday announced that the smelter was... 

Mwana doubles Q4 diamond output

By: Natasha Odendaal     22nd April 2014 London-listed Mwana Africa has achieved steady-state production at its Klipspringer slimes retreatment project, in Limpopo, with fine diamond output more than doubling over the quarter to March. The pan-African, multicommodity mining and development company produced 12 383 ct during the quarter... 

BNC smelter upgrade important short-term focus for Mwana 

By: Leandi Kolver     29th January 2014 The most important short-term focus for Aim-listed Mwana Africa’s Bindura Nickel Corporation (BNC), in Zimbabwe, was to get the operation’s smelter running once again, CEO Kalaa Mpinga said on Wednesday. BNC owned and operated the Shangani and Trojan nickel mines, as well as the Bindura smelter... 

Freda Rebecca production down 25% as result of mill unavailability

By: Leandi Kolver     20th January 2014 Multicommodity miner Mwana Africa on Monday reported that gold production at its Freda Rebecca gold mine, in Zimbabwe, declined by 25% quarter-on-quarter to 13 072 oz for the three months ended December, owing to a mill being temporarily unavailable as a result of engineering downtime and... 

Mwana revenue up as BNC delivers

By: Natasha Odendaal     11th December 2013 The restart of Bindura Nickel Corporation's (BNC’s) Trojan mine in April offset lower revenue from the Freda Rebecca mine, Aim-listed Mwana said on Wednesday. Mwana generated a 7% higher group revenue for the interim period to September, reaching $65-million during the period under review,... 

Freda Rebecca Q2 production up 19%

By: Leandi Kolver     24th October 2013 Multicommodity miner Mwana Africa on Thursday reported that gold production at its Freda Rebecca gold mine, in Zimbabwe, increased 19% quarter-on-quarter to 17 536 oz for the three months ended September 30, as a result of increased mill throughput and improved recoveries. Recoveries of 84% were... 

Wellesley-Wood appointed Mwana Africa chairperson

13th September 2013 Aim-listed Mwana Africa last week announced the appointment of Mark Wellesley-Wood as nonexecutive chairperson of the company with immediate effect, subsequent to the resignation of Oliver Baring. 

Bindura Nickel unveils new mine plan for Trojan mine

By: Leandi Kolver     13th August 2013 Aim-listed Mwana Africa’s 76.5%-owned Bindura Nickel Corporation (BNC) on Tuesday unveiled a revised mine plan for its Trojan mine in Zimbabwe following the completion of an internal review. The mine plan had been revised to target higher-grade zones of the orebody, known as massives, following... 

Mwana widens FY loss after $43.7m BNC impairment charge

By: Creamer Media Reporter      31st July 2013 Aim-listed Mwana Africa widened its loss in the 2013 financial year to $43.5-million, compared with a loss of $6.7-million in 2012, after incurring a $43.7-million impairment charge for its Bindura Nickel Corporation (BNC) operations, in Zimbabwe. The fall in the nickel price from about $18 000/t... 

Mwana lifts Q1 production as Freda Rebecca recovers from tank failure

By: Natalie Greve     23rd July 2013 Multicommodity miner Mwana Africa has lifted quarter-on-quarter output from its flagship Freda Rebecca mine by 18%, producing 14 716 oz of gold for the first quarter of 2014, confirming the Zimbabwean operation’s recovery from a leach tank incident earlier this year. The improvement in gold... 

Mwana’s BNC considering new mine plans to improve cash flow

By: Idéle Esterhuizen     16th July 2013 Aim-listed Mwana Africa’s 76.5%-owned Bindura Nickel Corporation (BNC) mining operation, in Zimbabwe, is examining alternative mine plans with the objective of improving short-term cash flow and reducing its funding requirement. Mwana Africa said on Tuesday that BNC’s new mine plans would use the... 

Trojan ships first ore after four-year shutdown

By: Natasha Odendaal     18th April 2013 Aim-listed Mwana Africa’s 52.9%-owned subsidiary Bindura Nickel Corporation this week shipped the first ore out of the newly restarted Trojan nickel mine. The Zimbabwe-based mine, which had been idled over the past four years, had trucked the first shipment of concentrate to Durban following the... 

SRK geared up to spur Africa’s growth

25th January 2013 Decades of investment in local skills and experience has established SRK Consulting – a leading international network of consulting engineers and scientists – as a major force offering sustainable solutions to the natural resources sectors across Africa. 

Mwana invests $21m in BNC through rights issue

3rd September 2012 Aim-listed Mwana Africa on Monday said it would proceed with the underwriting of its 52.9%-owned subsidiary Bindura Nickel Corporation’s (BNC’s) rights issue. The proceeds of the rights issue would be used to fund the restart of BNC’s Trojan nickel mine, in Zimbabwe. 

Mwana reports 26% production increase from Zim mine

By: Megan van Wyngaardt     24th July 2012 Aim-listed Mwana Africa boosted second-quarter gold production from its Freda Rebecca mine by 26%, while costs from the Zimbabwe operation declined by 17%, CEO Kalaa Mpinga reported on Tuesday. Freda Rebecca mine produced 17 985 oz gold in the quarter ended June, owing to increased mill... 

Mwana says time is right to restart BNC mines in Zimbabwe

By: Idéle Esterhuizen     7th June 2012 Aim-listed Mwana Africa said Thursday its 52.9%-owned subsidiary Bindura Nickel Corporation (BNC) would carry out a rights issue to raise $21-million to restart the Trojan nickel mine, in Zimbabwe. Mwana, through its subsidiary Zimnick, would act as underwriter for the proposed rights issue,... 

Mwana reports 19% production increase

By: Natasha Odendaal     23rd April 2012 Gold production from Aim-listed Mwana Africa’s Freda Rebecca gold mine increased from 11 573 oz in the December quarter, to 14 280 oz in the three months to the end of March. The company attributed the 19% jump to increased mill throughput, as well as increased head grade and a marginal... 

Mwana seeks $35m to restart Zim mine, fund DRC activities

By: Natasha Odendaal     2nd April 2012 Aim-listed Mwana Africa is looking to raise $35-million to restart its Zimbabwe-based nickel project and the funding of its activities in the Democratic of Congo (DRC), the company said on Monday. Mwana, which held a 52.9% interest in Bindura Nickel Corporation (BNC), would pour about... 


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