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BNC closes $20m bond, progresses smelter restart plans

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 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 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 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 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 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 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 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 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 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 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 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 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 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

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 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 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 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 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 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

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

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 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 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 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 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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