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Lossmaking Bauba’s exploration drilling on hold, non-execs accept halved fee

By: Martin Creamer The exploration drilling activities of lossmaking JSE-listed platinum exploration company Bauba have been put on hold and nonexecutive directors are talking only half of their fees until the company has sufficient cash to pay them in full. “Currently all drilling activities are on hold,” the... 

Bauba plans to mine chrome to fund platinum exploration

By: Martin Creamer Struggling Bauba Platinum intends generating cash flows from chrome mining to fund its continued search for platinum group metals (PGMs), in Limpopo province. JSE-listed Bauba Platinum, headed by CEO Syd Caddy, is a platinum group metals (PGM) exploration company working to develop the Bauba... 

Ruukki cuts CEO and board members in restructuring drive

By: Natalie Greve LSE- and Nasdaq-listed chrome mining and minerals producer Ruukki Group announced on Tuesday that it would undergo an extensive restructuring to better align it with the scope of the company's current operations and prevailing market conditions. 

Higher ferrochrome price fix lifts Merafe share price

By: Martin Creamer The share price of the South African black-owned ferrochrome producer Merafe Resources rose here on the announcement of a 2% higher ferrochrome price settlement. The European benchmark ferrochrome price of $1.125/lb for the first quarter of 2013 is up on the $1.10/lb price for the fourth quarter... 

Merafe expects chrome export duty decision by February

By: Idéle Esterhuizen South African black-owned ferrochrome producer Merafe Resources was hoping for “some kind of resolution” on proposals for a chrome ore export duty by February next year, CEO Zanele Matlala said Tuesday. Such taxes were aimed at limiting the export of unbeneficiated chrome ore from South Africa to... 

Exorbitant fees, low prices threaten to sink Zim chrome miners

By: Oscar Nkala The Zimbabwe Mining and Smelting Company (Zimasco) – the country's biggest chrome miner and ferrochrome producer – says the huge increase in ground rental fees gazetted by government early this year has raised the operational costs of its chrome mining business as it is now paying $11-million in... 

KEEN INVESTORS

The Helsinki- and London-listed Ruukki board came to Johannesburg last week with the message that the company intends devoting energy, investment and time to grow the business in South Africa. Ruukki board members pictured are Philip Baum, a former Anglo American executive; Ruukki South Africa... 

Ruukki's SA investment hits R3bn, JSE listing likely

By: Martin Creamer The Helsinki- and London-listed Ruukki, which has invested R3-billion in South Africa so far, will soon have two assets and two major projects to manage in this country, which it believes has "huge potential". Ruukki South Africa CEO Dr Alistair Ruiters, a former South African Department of... 

Sandvik unveils upgraded low-profile LHDs

By: Megan Wait International designer and manufacturer of machinery for underground mechanised mining Sandvik launched a new range of low profile load haul dumpers (LHDs) at this year’s South African Institute of Mining Metallurgy’s yearly International Platinum Conferences, held in Sun City. 

Chromex expands in Zimbabwe with Waylox acquisition

By: Loni Prinsloo Aim-listed Chromex Mining on Monday announced that it had concluded the $1,15-million acquisition of Zimbabwean chrome mining company Waylox. The acquisition would be paid with $300 000 in cash and the balance in new ordinary shares in Chromex. Chromex CEO Russell Lamming said that the... 

Company Announcement: Chromex Mining plc (‘Chromex’ or ‘the Company’) Acquisition of Waylox Mining (Pvt) Ltd - Zimbabwe

Attached please find a press release on: Chromex Mining plc, the AIM listed chrome mining company focussed in Southern Africa, is pleased to announce that it has concluded the acquisition of Waylox Mining (Private) Limited (‘Waylox’), a chrome mining company operating in Zimbabwe and a wholly... 

Cliffs prepares to tackle ferrochrome market

By: Liezel Hill Cleveland, Ohio-based Cliffs Natural Resources, which already sells iron ore and coal to steelmakers, now expects to be producing and shipping ferrochrome, an ingredient used to prevent corrosion in stainless steel, by 2015. On Monday, the company announced it will buy the Ontario chrome assets... 

Samancor Chrome prepares to retrench, 900 jobs at risk

By: Martin Creamer South African chrome-miner and ferrochrome producer Samancor Chrome said on Tuesday that it was preparing to retrench workers as a consequence of its planned 55% cut in smelter production and 50% cut in chrome mining during 2009. Of the 4 800 employees, not more than 900 would be considered for... 

Materials-handling company secures three-year contract

Bulk materials handling company Fraser Alexander Bulk Mech (FABM), a division of the Fraser Alexander Group, and ferrochrome production company ASA Metals, have signed a contract whereby FABM will be responsible for all ASA Metals materials handling for the next three years. The contract allows... 

Materials-handling company secures three-year contract

By: Gerrit Bezuidenhout Bulk materials handling company Fraser Alexander Bulk Mech (FABM), a division of the Fraser Alexander Group, and ferrochrome production company ASA Metals, have signed a contract whereby FABM will be responsible for all ASA Metals materials handling for the next three years. The contract allows... 

R50m transaction procures opencast mine

Mining services company Scharrig Mining (Scharrig) announced last month the acquisition of hard rock open cast mining company CCT in a transaction worth R50 million. 

Another acquisition for Scharrig Mining

By: Nelendhre Moodley Mining services company Scharrig Mining (Scharrig) has bought mining contractor CCT for R50-million, the company said on Thursday. 

Competition tribunal approves Kermas-IMR merger

By: Mariaan Webb South Africa’s Competition Tribunal on Thursday gave ferrochrome producer Kermas South Africa permission to merge with one of the world’s largest private mining and metals firms, Eurasian Natural Resources’ subsidiary International Mineral Resources (IMR). 

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