http://www.miningweekly.com
R/€ = 15.11 Change: 0.05
R/$ = 12.98 Change: 0.06
Au 1256.44 $/oz Change: 2.60
Pt 936.00 $/oz Change: 2.00
 

Topic

Vast secures $10m in funding for Romanian projects

By: Anine Kilian     Updated 18 minutes ago Aim-listed Vast Resources has entered into a conditional heads of terms relating to a proposed investment of up to $10-million in Vast by a corporate finance and investment firm in Romania. The proposed investment will be made in two stages, with $8-million to be paid at stage one and $2-million... 

Zwane faces treason charges

By: News24Wire      Updated 28 minutes ago Minister of Mineral Resources Mosebenzi Zwane faces treason charges after the Organisation Undoing Tax Abuse (Outa) laid charges against him on Monday. Outa said Zwane would have to answer for actively aiding State capture and damaging South Africa’s economy. Apart from treason the charges laid... 

Ukraine’s Ferrexpo raising $350m pre-export loan

By: Reuters     Updated 1 hour 17 minutes ago Ukrainian iron-ore producer Ferrexpo is raising a four-year pre-export syndicated loan of up to $350-million, banking sources said on Monday. The deal is the first time the company has tapped the syndicated loan market since discharging financial restructuring advisers in April 2016. 

Embattled Paladin secures new financing facility

By: Esmarie Swanepoel     Updated 7 hours ago The administrators of embattled uranium miner Paladin Energy have secured some $40-million of additional debt, announcing on Monday that they had entered into agreements with Deutsche Bank. Under the agreements, Deutsche Bank would acquire an existing $20-million revolving credit facility from... 

State capture casts long shadow over Eskom’s results  

By: Terence Creamer     19th July 2017 South Africa’s worst kept corporate secret was confirmed on Wednesday, when Eskom reported a sharp fall in after-tax profits to R888-million in 2017, from over R5-billion in the previous financial year. However, the results were overshadowed by serious allegations of corruption and... 

Ivanhoe appoints two more financiers to find funds for Platreef

By: Samantha Herbst     19th July 2017 Africa-focused platinum-group metals (PGM) miner Ivanhoe Mines has appointed mine-financing institutions KfW IPEX-Bank and the Swedish Export Credit Corporation (SEK) to arrange project financing for the development of the Platreef project in South Africa’s Limpopo province. The German... 

Top Peru gold miner to weigh copper growth if recovery extends

By: Bloomberg     18th July 2017 Peru’s biggest precious-metals producer will consider taking a deeper dive into copper if prices of the industrial metal keep rising. Cia. de Minas Buenaventura is tripling annual output at its Marcapunta copper mine to about 60,000 metric tons. Another expansion would take it to 100 000 tons,... 

Kefi signs on-site funding agreement for Tulu Kapi

By: Natasha Odendaal     17th July 2017 Aim-listed Kefi Minerals has signed the terms for $135-million in funding with Oryx Management to finance and operate all the on-site infrastructure at its Tulu Kapi gold project, in Ethiopia. This latest mandate letter and heads of terms with the infrastructure specialist followed Kefi’s signing... 

Action plan not enough to lift ailing mining sector, says CoM

By: Natasha Odendaal     14th July 2017 While Finance Minister Malusi Gigaba's new economic action plan has been welcomed, the Chamber of Mines (CoM) believes that more must be done to stabilise an industry in crisis. With some 70 000 jobs lost over the past five years, and declines in net and gross investment over the past two years,... 

Historic diamond hub feels the brunt as Americans buy fewer gems

By: Bloomberg     14th July 2017 An ugly year for diamonds in the vital US market is piling pressure on Europe’s historic center of the $80-billion global trade. Diamond trading companies in the Belgian port city of Antwerp, which has been the industry’s trading capital for five centuries, were already feeling the pinch from a... 

Elon Musk exposes deep coal divide in energy-hit Australia

By: Bloomberg     14th July 2017 Elon Musk’s intervention in Australia’s energy crisis is widening a divide over the future of coal. The billionaire Tesla Inc. founder, who has promised to help solve an Australian state’s clean energy obstacles, sees no place for the fossil fuel. That conflicts with the national government’s... 

Prophecy secures third vanadium project in 2017

By: Henry Lazenby     13th July 2017 Canadian project developer Prophecy Development Corp has secured a third vanadium-focused project in 2017, announcing on Thursday that it has signed a lease on the Louie Hill vanadium project, in Nevada With the acquisition of the Louie Hill project, together with the previously acquired... 

Gigaba tables economy action plan, reopens mining charter engagement 

By: Natasha Odendaal     13th July 2017 Finance Minister Malusi Gigaba on Thursday unveiled a series of aggressive planned interventions and action steps to stimulate economic recovery after South Africa’s fall into recession in the first quarter. His address revealed two main desired outcomes – dodge another downgrade and reignite... 

Finalisation of ‘lowest cost’ IRP included in growth action plan 

By: Terence Creamer     13th July 2017 The finalisation of the “lowest cost” Integrated Resource Plan (IRP) for electricity has been included in a list of energy-related interventions unveiled by Finance Minister Malusi Gigaba as part of ‘Government’s Inclusive Growth Action Plan’ published on Thursday. Likewise, the National Treasury... 

Chinese consortium reaffirms commitment to Graphex’s Tanzania project

By: Esmarie Swanepoel     13th July 2017 The share price of graphite developer Graphex Mining rose by nearly 35% on the ASX on Thursday after the company’s Chinese partners reaffirmed their commitment to the Chilalo project, in Tanzania. Graphex told shareholders that it had revised the terms of a proposed joint venture (JV) and equity... 

Indonesia seeks meeting with Freeport CEO to end copper mine dispute

By: Reuters     11th July 2017 Indonesia says it will invite the head of mining giant Freeport McMoRan Inc to Jakarta this month to try to settle a festering dispute over a new deal to operate the world's second-largest copper mine. The Arizona-based company resumed copper concentrate exports from the mammoth Grasberg mine in... 

Work starts on R1.7bn fluorspar mine 

By: Martin Creamer     10th July 2017 Work has begun on the building of an opencast fluorspar mine and concentrator at Rust de Winter, 80 km northeast of Pretoria, Nokeng Fluorspar Mine announced on Monday. The wholly owned subsidiary of SepFluor said that the R1.7-billion finance for the 21-month project had been raised through a... 

Platina delivers positive PFS for Owendale project

By: Mariaan Webb     10th July 2017 Project developer Platina on Monday announced the results of the prefeasibility study (PFS) for its Owendale project, in New South Wales, which identified “robust” scandium/cobalt/nickel project economics. Completed by Brisbane-based Prudentia Process Consulting, the PFS estimates a capital cost... 

Australia's Joyce sees merit in government taking stakes in coal

By: Bloomberg     10th July 2017 Australia’s Deputy Prime Minister Barnaby Joyce indicated he supports the government being an equity partner in any new coal-fired power station, and said that lenders are willing to finance fossil fuel-based electricity generation. “I have got nothing against taking equity in it,” Joyce told Sky... 

Banro appoints new CFO

By: Creamer Media Reporter      10th July 2017 Democratic Republic of Congo-focused gold miner Banro Corporation has appointed Rory Taylor CFO. Taylor is a senior finance executive with over 18 years of international public company experience. 

Australian miners emerge unscathed from Tanzania mining law changes

By: Esmarie Swanepoel     7th July 2017 A number of Australian juniors operating in Tanzania have emerged from the rubble of the recent legislative changes, largely unscathed. Several Tanzania-focused companies resumed share trading on the ASX on Friday, telling shareholders that the legislative changes passed by the Tanzanian... 

Inaugural Cumbre aims to bolster investment in Latin America

By: Tasneem Bulbulia     7th July 2017 Generalist and specialist investors are returning to the Latin American mining sector in large numbers, as they see the opportunity for returns re-emerging, Mining Indaba director of content Harry Chapman tells Mining Weekly. Therefore, leveraging the success and channelling the expertise gleaned... 

Premier's imbizo no-show explained

By: Ilan Solomons     7th July 2017 Mpumalanga Premier David Mabuza was unable to attend a community engagement imbizo in the Steve Tshwete local municipality, in Mpumalanga, regarding the third iteration of the Mining Charter, last week, as he was out of the country on an official trade and investment trip to Russia, said... 

Wescoal’s Mazarura appointed Kumba CFO

By: Natasha Odendaal     6th July 2017 Wescoal CFO and executive director Bothwell Mazarura has resigned to join Kumba Iron Ore as CFO and executive director, effective September 1. Mazarura, who has worked at Wescoal since July 2016, holds a Bachelor of Accounting Science Degree from the University of South Africa and is an... 

Eskom expects DFIs to form ‘backbone’ of capital-raising effort in coming three years

By: Terence Creamer     6th July 2017 State-owned power utility Eskom indicated that funding from development finance institutions (DFIs) is likely to form the backbone of its capital-raising effort over the coming five years, during which its debt is expected to peak at R500-billion. However, Eskom followed fellow State-owned... 

Belgian bank KBC seizes assets from storied Antwerp diamond firm

By: Bloomberg     4th July 2017 Belgian bank KBC Group seized assets from one of the diamond industry’s most storied names as it seeks to recover unpaid loans, according to court documents. KBC is seeking to recover €26-million ($29-million) from Exelco, and had bailiffs search the firm’s Antwerp offices as well as offices... 

Business should stay out of governing – Zwane on Mining Charter 

By: News24Wire      4th July 2017 Mineral Resources Minister Mosebenzi Zwane has defended the new Mining Charter. Speaking to the media on the sidelines of the ANC's National Policy Conference in Johannesburg, Zwane said "business should do business" and leave governing and legislative decision-making to government. 

Paper trail on metal loans ended in fakes as banks lose millions

By: Bloomberg     4th July 2017 For all the high-tech wizardry of modern financial markets, there’s one corner of the commodity world that still depends almost entirely on printed paper – making it an easy target for crooks. Buyers and sellers of base metals like copper, aluminum and nickel use documents known as warehouse... 

Transnet appoints Werksmans to probe locomotive corruption claims  

By: Terence Creamer     3rd July 2017 State-owned freight logistics utility Transnet reports that Werksmans Attorneys has been appointed to oversee a board-level probe into allegations of corruption relating to its purchase of locomotives for China South Rail (CSR). Opposition party the Economic Freedom Fighters (EFF) recently laid... 

Appointment of Mr. Feng Tao as the new Financial Director and Executive Director of Wesizwe Platinum Limited

     3rd July 2017 In accordance with paragraph 3.59(b) of the Listings Requirements of the JSE Limited shareholders are hereby informed that the Wesizwe Platinum Board has appointed Mr. Feng Tao as Financial Director and Executive Director of the company with effect from 01 July 2017. Mr. Feng Tao will fill the... 

Heron secures A$240m for Woodlawn project

By: Creamer Media Reporter      30th June 2017 ASX- and TSX-listed Heron Resources has secured the full A$240-million funding package required for the construction and ramp-up of its Woodlawn zinc/copper project, in New South Wales. The package comprises a loan, equity and stream funding package from subsidiaries of Orion Mine Finance Group... 

Wesizwe appoints new FD

By: Megan van Wyngaardt     30th June 2017 JSE-listed Wesizwe Platinum has appointed Feng Tao FD, effective July 1. Tao, who holds an MBA from Schulich School of Business, York University, in the US, and a Bachelor of Law degree from Jilin University, Changchun, China, will fill the vacancy that was left open by the resignation of... 

Lonmin showcases nonmining career opportunities to youth

By: Mia Breytenbach     30th June 2017 In launching its Youth Month initiatives, London- and JSE-listed platinum mining company Lonmin has convened a series of career guidance workshops for learners at schools in communities around the company’s mines and in labour-sending areas to showcase a career life “beyond mining”.   Lonmin... 

The Revolutionary Mining Charter is irrational, divisive 

     30th June 2017 By Jacinto Rocha On June 15, Mineral Resources Minister Mosebenzi Zwane announced to South Africa and the whole world the birth of the Reviewed Broad-Based Economic Empowerment Charter for the Mining Industry – the Revolutionary Mining Charter (RMC). Unfortunately, he failed to notice that, owing... 

Acacia Mining reviewing Tanzania’s proposed legislative changes

By: Natasha Odendaal     29th June 2017 Gold miner Acacia Mining is reviewing the proposed legislative changes to the legal framework governing the natural resources sector in Tanzania. This followed the recent publication of draft legislation, which is expected to be debated by the country’s Parliament in an extended Parliamentary... 

Miners to tighten their belts for the remainder of the year – BMI

By: Megan van Wyngaardt     27th June 2017 Despite the modest recovery in global commodity prices, miners will remain focused on capital and supply discipline in the year ahead, through debt reduction and efficiency enhancements, research firm BMI said on Tuesday. In its ‘Mining Mid-Year Update: Key Themes For 2017’ report, it noted that... 

Australia’s CEFC invests A$20m in lithium/tantalum mine

By: Esmarie Swanepoel     27th June 2017 The federal government will invest around A$20-million into the Pilgangoora lithium tantalum project, in Western Australia. The investment will be done through the Clean Energy Finance Corporation (CEFC), and is the current government’s first investment in a mining project of this kind in... 

Mpumalanga Premier unable to attend Mining Charter imbizo owing to Russia trip

By: Ilan Solomons     26th June 2017 Mpumalanga Premier David Mabuza was unable to attend a community engagement imbizo in the Steve Tshwete local municipality, in Mpumalanga, regarding the third iteration of the Mining Charter, last week, as he was out of the country on an official trade and investment trip to Russia, said... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Close