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Topic

MC Mining eyeing acquisition, project access, SEZ 

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining, which has painstakingly removed many obstacles in its path in the last five years, is targeting the acquisition of a second suitable operational coal mine in the mould of the cash-generative Uitkomst, taking strong steps to secure access... 

MC Mining reports normalised $9.8m loss

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining on Thursday reported a normalised after-tax loss of $9.8-million in the 12 months to June 30, when the company achieved full integration of  the cash generating Uitkomst thermal and metallurgical colliery, which sold $32.7-million worth... 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Thakadu starts construction on nickel sulphate purification plant

By: Creamer Media Reporter      5th September 2018 Thakadu Battery Materials on Wednesday officially marked the start of construction of its R250-million nickel sulphate purification plant at platinum miner Lonmin's Base Metals Refinery, in the North West province. All major equipment has been ordered and key contracts awarded, including modular... 

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

Battery metals industry dependent on ‘flavour of the month’

By: Simone Liedtke     6th June 2018 With nearly every forecast predicting higher battery use in the years ahead, especially lithium-ion batteries to power new and existing technologies, demand for its component metals may be dependent on what some title “the flavour of the month”. 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

Gupta-owned Shiva Uranium's business rescue practitioners throw in towel

By: News24Wire      31st May 2018 The business rescue practitioners (BRPs) appointed to save Gupta-owned company Shiva Uranium have resigned with immediate effect after their relationship with the state-owned Industrial Development Corporation (IDC) - the company's largest creditor – turned sour. Louis Klopper and Robert Knoop... 

Kropz clinches offtake from phosphates project

By: Martin Creamer     21st May 2018 Plant nutrient minerals development company Kropz, which is developing the Elandfontein phosphates mining and processing project in the Western Cape, has secured several offtake agreements ahead of production. The cornerstone offtake agreement, for about a third of its production at market prices... 

Mashego Mashego

By: Martin Creamer     27th April 2018 This week Mining Weekly features Harry Ephraim Mashego, known as Mashego Mashego, the executive director corporate affairs, Harmony Gold Mining Company, an employer of 30 700 people 

Resgen secures R540m IDC loan

By: Marleny Arnoldi     16th April 2018 The Industrial Development Corporation of South Africa (IDC) has approved JSE- and ASX-listed Resource Generation’s (Resgen’s) request for R540-million in funding.  

Palladium dubbed 'unobtainium', rhodium 'next palladium'

By: Martin Creamer     7th March 2018 While diesel demonisation continues to the detriment of platinum, several key steps that will benefit platinum are poised to be taken in the next 18 to 24 months. The first of these key steps is the substitution of platinum for palladium in gasoline systems, against the backdrop of palladium... 

Outlook good for cash-flush Merafe

By: Martin Creamer     6th March 2018 Chrome and ferrochrome company Merafe, which has zero debt and R600-million cash on hand, sees ferrochrome prices being supported by the cost of production in China, solid projected stainless steel production growth and the absence of any major additional ferrochrome supply capacity coming on... 

Soaring Merafe goes into cashflow orbit, lifts dividend 151%

By: Martin Creamer     5th March 2018 Chrome and ferrochrome company Merafe delivered exceptional results for 2017, setting new production, revenue, earnings before interest tax depreciation and amortisation (Ebitda) and dividend records. Cashflow from operating activities rocketed 179% to R1 400-million, compared with R502-million... 

Implats harvests loss shafts, mulls more investment in profitable shafts 

By: Martin Creamer     1st March 2018 The 40 000-employee Impala Platinum Mine in Rustenburg, which is 'harvesting' unprofitable shafts while studying additional investment opportunities in the many profit-making shafts within its well-endowed, long-life lease area, has set in motion a process to cut costs by R1-billion. Harvesting,... 

South Africa to pilot first utility-scale vanadium redox flow battery

By: Nadine James     23rd February 2018 Aim-listed miner Bushveld Minerals’ 84%-owned energy subsidiary, Bushveld Energy, will be commissioning its first utility-scale vanadium redox flow battery (VRFB) for testing by State-owned power utility Eskom in May, says Bushveld Energy CEO Mikhail Nikomarov. Nikomarov notes that the... 

Eskom looking beyond shareholder to tackle ‘unsustainable’ capital structure 

By: Terence Creamer     30th January 2018 Having secured “in principle” commitments from funders to enable Eskom to meet looming debt obligations of R20-billion by the end of February, the new leadership at the power utility has started weighing various options, including asset sales, for shoring up the group’s fragile balance sheet.... 

Anglo to sell New Largo assets to Seriti, partners for R850m

By: Anine Kilian     29th January 2018 LSE- and JSE-listed Anglo American is making further progress with its strategy of disposing of its Eskom-tied coal assets, announcing on Monday that it will sell its New Largo thermal coal assets, which are owned by its 73%-held subsidiary Anglo American Inyosi Coal, to New Largo Coal, for... 

Corporation to strengthen partnerships at Indaba

By: Marleny Arnoldi     26th January 2018 State-owned financial services provider Export Credit Insurance Corporation (ECIC) is keen to deepen partnerships with South African exporters who offer their capital goods and services in international and emerging markets, including in Africa.  

Alphamin raises C$56m to develop DRC tin project

By: Schalk Burger     23rd January 2018 Tin miner Alphamin Resources has raised C$56-million, or about $44.3-million, through the issue of nearly 175-million shares at C$0.32 a share to continue the development of the Bisie tin project, in North Kivu, in the Democratic Republic of Congo. The offering included the private placement of... 

Bushveld Minerals upbeat about year ahead

By: Megan van Wyngaardt     22nd January 2018 Aim-listed Bushveld Minerals made “tremendous strides” during the fourth quarter of 2017, which was marked by a strong financial performance from its Bushveld Vametco operations. Supported by a strong vanadium price environment – the ferrovanadium price averaged $33/kg for the 12 months to... 

On-The-Air (19/01/2018) 

By: Martin Creamer     19th January 2018 Diamond mining in the diamond city of Kimberley has been given a sparkling new lease of life thanks to smart new technology; The Industrial Development Corporation is calling for smarter mining, smarter agriculture and smarter manufacturing to pull South Africa ahead; and The Constitutional Court... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

New Indian JV for beach sand mining

By: Ajoy K Das     30th November 2017 Indian Rare Earths Limited (IREL) and the Industrial Development Corporation of Odisha Limited (IDCOL), the investment arm of the eastern Indian province of Odisha, on Wednesday signed an agreement to float a joint venture (JV) company for beach sand mining project. The 51:49 IREL-IDCOL JV would... 

IDC outlines actions for mining industry to inch closer to success

By: Mia Breytenbach     28th November 2017 While the Toronto Declaration-based standards for the mining industry, adopted by the International Council of Metals and Mining, are broadly accepted as encompassing mines’ social licence to operate, only an “arrogant or stupid person” would argue that all relevant standards have been met, says... 

Bushveld Energy, IDC, Eskom to test first vanadium redox flow battery

By: Natasha Odendaal     21st November 2017 Aim-listed Bushveld Minerals’ 84%-owned energy subsidiary Bushveld Energy has deployed its first utility-scale vanadium redox flow battery (VRFB) to power utility Eskom for testing. The power utility will, at its research, testing and development centre, in Rosherville, test the VRFB and its... 

Bushveld Energy and Partners Deploy Eskom's First Vanadium Redox Flow Battery

21st November 2017 Bushveld Minerals Limited , a mineral project development company with a portfolio of vanadium and coal assets in Southern Africa and an investment in tin, is pleased to announce that its 84%-owned energy subsidiary, Bushveld Energy Limited ("Bushveld Energy") has confirmed its first vanadium... 

Exxaro eases BEE scheme replacement concerns

By: Natasha Odendaal     20th November 2017 Diversified miner Exxaro Resources on Monday moved to ease shareholder concerns over its new replacement black economic empowerment (BEE) scheme that will ultimately hold a 30% stake in the JSE-listed firm. Shareholders had queried the ultimate controller of K2016475450 (BEE SPV), the special... 

Alphamin eyes AltX listing, proposes final $50m raising for Bisie construction

By: Natasha Odendaal     14th November 2017 TSX-V-listed Alphamin Resources is working to jump the final funding hurdle for its Bisie tin project, in the North Kivu province of the Democratic Republic of Congo, through a secondary inward listing on the AltX of the JSE. The exploration and development company has already raised or secured... 

Matodzi Nesongozwi

By: Ilan Solomons     3rd November 2017 This week Mining Weekly features Matodzi Nesongozwi, CEO of Manngwe Mining, a black-led iron-ore mining company   

CoAL issues share warrants to IDC

By: Anine Kilian     30th October 2017 Triple-listed Coal of Africa Limited (CoAL) has issued about 48.18-million unlisted share options or warrants to the Industrial Development Corporation (IDC). This is in line with the terms of a loan agreement between the company, its subsidiary Baobab Mining and Exploration and the IDC, which... 

CoAL settles major liabilities, transitions into coal producer in 'extremely positive year'

By: Mia Breytenbach     13th October 2017 Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as settling significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst colliery,... 

Groundswell of commitment building up to ensure that mining is allowed to boost the South African economy

By: Martin Creamer     13th October 2017 Last week’s Joburg Indaba proved a robust conference. Emanating from it were divergent opinions about the best way to deal with an errant Department of Mineral Resources (DMR) which has caused a myriad of distractions. Had proper DMR leadership been put in place, the South African economy would... 

CoAL seeks greater self-sufficiency after transformational FY17

By: Mia Breytenbach     29th September 2017 Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as the settlement of significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst... 

Master Drilling aiming to extend geographical, technological diversification

By: Mia Breytenbach     22nd September 2017 Raise-boring and drilling solutions provider Master Drilling continues to extend its service provision capacity and technology reach, with the company focusing on diversifying into new markets and industries and advancing technologically. “Diversification across geographies, commodities,... 

Master Drilling posts resilient interim results, continues technological innovation focus

By: Mia Breytenbach     12th September 2017 Two additional machines and the impact of favourable foreign-exchange movements have contributed to a 12.5% increase in JSE-listed drilling services provider Master Drilling’s revenue to $60.5-million for the six months ended June 30. The group added two raise-bore machines during the period... 

Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand

By: Mia Breytenbach     16th August 2017 There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid markets, with demand to peak in 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy subsidiary... 

Stop moratorium now, NUM instructs DMR 

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

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