Global Mining News in real time

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... 


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R/$ = 12.00Change: -0.15
Au 1198.12 $/ozChange: -8.03
Pt 1143.50 $/ozChange: -12.00
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