Pan African says Shanduka, Metorex transactions unconditional

JSE-listed midtier gold producer Pan African Resources’ share exchange with Shanduka Gold has been declared unconditional, it said on Friday. Pan African would earn a 26% shareholding in Barberton Mines in exchange for the issue of new ordinary...

Metorex appoints two new board members

Diversified mining group Metorex, has continued with its board restructuring, appointing Nonkululeko (Nkuli) Kgositsile and Victor Mabuza as independent nonexecutive directors. The appointments were effective immediately.

Debt reduction key, says new Metorex CEO Goodlace

The successful implementation of a debt-reduction strategy was key to the turnaround of debt-laden diversified mining company Metorex, its new CEO Terence Goodlace said on Tuesday. Simultaneously, urgent attention would be given to turning...

Lower copper price hits Metorex’s half-year earnings

JSE-listed diversified miner Metorex expects its earnings before special items for the half-year ended December 31, 2008, to be between 7% and 16% lower than the year before, it reported on Thursday. The company said in a statement to...

Metorex hires former Gold Fields exec as new CEO

Terence Goodlace, the former COO of South African gold major Gold Fields, has been appointed as the new CEO of diversified-group Metorex, the midtier miner announced on Tuesday. Goodlace, who resigned from Gold Fields after “personal...

Metorex, DRC conclude mining review negotiations

The Congolese subsidiary companies of JSE-listed diversified miner Metorex have concluded negotiations with the authorities in the Democratic Republic of Congo (DRC) regarding the country's title review process. The DRC had reviewed and...

Metorex may have to raise more capital, says new chairperson Rob Still

Despite the R922-million that Metorex raised late last year, the diversified mining company might have to raise more capital, new incoming Metorex chairperson Rob Still said on Tuesday. "It's possible that we will need to raise more capital, but...

Criminal charges against Metorex dismissed as ‘wild, vexatious'

Criminal charges have been laid against JSE-listed diversified mining company Metorex and Metorex CEO Charles Needham, but the company dismisses claims being made against it as "wild, vexatious, false and defamatory".

Metorex shareholders give thumbs-up to financing plan

Shareholders of JSE-listed Metorex on Tuesday approved a share issue to raise cash, which the company says it needs to finance the completion and production ramp-up of its now overdue Ruashi copper/cobalt project, in the Democratic Republic of...

Cash-strapped Metorex receives clawback go-ahead

Cash-strapped diversified midcap miner Metorex on Monday received permission to go ahead with its clawback offer of shares to raise R258-million. The clawback offer is only one part of an overall R3-billion capital and debt restructuring...

Metorex CEO to step down, founder to exit, cash-consuming assets for sale

Troubled midcap miner Metorex on Friday staunched its share-price haemorrhage with the announcement of far-reaching restructuring that would see the stepping down of growth-era CEO Charles Needham, the exiting of founder Simon Malone, the creation...

Over 12 000 South African mining jobs at risk

In excess of 12 000 mining employees could be affected by planned retrenchments, trade union Solidarity reported on Wednesday. The union said that it had received two more Section 189 notices, which could result in the retrenchment of about 1 000...