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eXtract Group, enX provide further details of restructure

By: Megan van Wyngaardt     21st June 2017 As part of its restructure and recapitalisation, contract miner eXtract Group’s wholly-owned subsidiary MCC Contracts will remain indebted to enX Group for R250-million, with the remaining R1.87-billion MCC owes to enX to be repaid by enX subscribing for new ordinary shares in MCC. enX then plans... 

eXtract to restructure amid slump in contract mining sector

By: Anine Kilian     19th April 2017 Despite the recent improvement in commodity prices, the long-term outlook for the contract mining sector remains poor.  In a joint statement by enX and eXtract on Tuesday, the parties said there was an oversupply of contract mining services in the market. 

Developments in Namibian mining indicate growth of sector

     18th May 2012 The Namibian Minister of Environment and Tourism has given environmental clearance to Australia-based uranium explorer Deep Yellow for its 95%-owned Shiyela iron-ore project.

 

CGNPC takes up last of Extract shares

By: Esmarie Swanepoel     30th March 2012 ASX- and TSX-listed Extract Resources would be incorporated into China Guandong Nuclear Power Corporation (CGNPC), after that company’s subsidiary acquired a 93.12% shareholding in the takeover target. CGNPC had offered Extract shareholders $8.65 in cash for every Extract share held, valuing the... 

Rio Tinto accepts Chinese offer for Extract stake

By: Matthew Hill     19th March 2012 Global miner Rio Tinto has accepted China Guangdong Nuclear Power Corp's (CGNPC's) offer for its 14% stake in Extract Resources, owner of the giant Husab uranium project in Namibia. Monday's move had been expected after Rio accepted CGNPC's bid for its separately held stake in Extract's 42%... 

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