Strong rand keeping Sallies fluorspar mines closed

The strong South African currency position is precluding the JSE-listed Sallies from resuscitating its fluorspar operations, which are costing R2,5-million a month to keep on care and maintenance, Sallies chairperson Nicholas Davidoff reports....

Metorex shareholders approve Vergenoeg sale

Shareholders of JSE-listed Metorex have “overwhelmingly” approved the company's plan to sell its 55% stake in in South African fluorspar producer Vergenoeg Mining, the company reported on Monday. Metorex announced in September it would sell...

Metorex recommends shareholders approve Vergenoeg deal

Shareholders of JSE-listed Metorex would meet on December 21 to vote on the sale of a 55% stake in fluorspar producer Vergenoeg Mining to Spanish company Minerales Y Productos Derivados (Minersa), for $60-million. The proceeds from the proposed...

Firebird’s stake in Sallies to increase to 74%

JSE-listed fluorspar producer Sallies on Monday reported that the all share offer by Firebird Global Master Fund had closed. The US-based Firebird made an unconditional mandatory cash offer to Sallies shareholders, for a consideration of R0,18...

Daily podcast – September 25, 2009

Metorex sell its entire 55% holding in Vergenoeg Mining to Spanish partner Minersa; and Solidarity declares a dispute with diversified miner Exxaro Resources.

Sallies expects FY headline earnings to improve

South African fluorspar producer Sallies expected an improvement of 133% in its headline earnings a share for the year ended June 30, 2009. The producer said in a statement to shareholders on Tuesday that it expected to report a headline profit a...

Sallies settles Solvadis claim

JSE-listed fluorspar producer Sallies on Monday reported that it had amicably resolved the dispute with chemicals service provider Solvadis, which had claimed $500 000 as compensation for the termination of an agency agreement between the two...

Sallies makes two board appointments

JSE-listed fluorspar producer Sallies has appointed Stephen Morris and Patrick Cooke as non-executive directors to its board, effective immediately. Morris is a British national, who is a director of several internationally listed companies,...

Daily podcast – July 30, 2009

In today's podcast: the head of the China Iron and Steel Association waves off suggestions that an iron ore price deal with foreign miners is imminent; and Metorex agrees to sell 15% of its shareholding in Vergenoeg Mining to a consortium of black...

Metorex sells stake in Vergenoeg to consortium of black investors

South Africa-based diversified miner Metorex has agreed to sell 15% of its shareholding in Vergenoeg Mining to a consortium of black economic empowered (BEE) entities. The company would sell the stake in the fluorspar producer to Medu Capital for...

Union says Sallies’ Witkop closure could affect 300 workers

About 300 employees’ jobs were at risk, after South African fluorspar producer Sallies announced its plan to close its Witkop fluorspar mine, in South Africa’s North West province, labour union Solidarity said on Wednesday. The producer...

Sallies halts Witkop mine, 'actively' pursuing corporate activity

South African fluorspar producer Sallies will stop production immediately at its Witkop mine, the company announced on Friday, citing a “collapse” in demand for acid-grade fluorspar amid the global economic slowdown.