Resources Watch

This week: Merafe says raw ore exports are smashing ferrochrome production. CoAL confirms hard coking coal at Makhado, with eyes on the Indian market. And, Aveng consolidates its mining businesses into one Africa-focused unit.

Export tax will destroy chrome ore mining – Metmar

The proposed $100/t tax on the export of raw chrome ore would destroy the South African chrome ore mining business and allow competitors from other producing countries to benefit, JSE-listed Metmar CEO David Ellwood said on Wednesday. Ellwood was...

Merafe gives equity raising a miss, keeps Lion Two stake at 20.5%

The black-owned JSE-listed ferrochrome company Merafe is giving equity raising a wide berth and opting to stick with a 20.5% stake in Xstrata’s Lion Two expansion at this stage, for which it must fork out R1-billion.

Resources Watch

This week: Trans Hex says its Namaqua diamond buy has a marine upside Esorfranki is keen to secure more work in the resources sector And, Merafe spurns equity raising to keep its 20.5% Lion Two stake.

Merafe spurns equity raising, keeps 20.5% Lion Two stake

The black-owned JSE-listed ferrochrome company Merafe is giving equity raising a wide berth and instead opting to keep its stake in Xstrata’s Lion Two expansion at 20.5%, the same percentage that it has in Lion One, the highly successful...

04/03/2011 (On-The-Air)

The black-owned mining company Merafe wants the government to put an end to the export from South Africa of raw chrome ore; South Africans are planning to build a new copper mine in the Democratic Republic of Congo (DRC). Are they trying to...

More raw chrome ore exported at low prices, JSE-bound coal-miner aspires to be consolidator, Sasol allocates R3,1bn for new export coal mine

Some South African chrome miners are continuing the frowned-upon export of raw chrome ore without adding value to make it ferrochrome - and electricity uncertainty is likely to result in an even greater increase in the export of unbene-ficiated...

Phiri to head growth-poised JSE-bound platinum NewCo

Ferrochrome company head Steve Phiri is stepping down as CEO of Merafe to take over the reins of a new growth-poised JSE-bound platinum company that is expected to be listed in the second half of 2010. Long-standing Merafe CFO Stuart Elliot will...

South Africa exporting more raw chrome ore at low prices

South Africa is continuing to export raw chrome ore to China in higher quantities and at comparatively low prices, despite government objections, Mining Weekly Online can today reveal. China bought nearly three million tons of chrome ore from...

Loss-making Merafe bullish on ferrochrome's 2010 prospects

JSE-listed ferrochrome producer Merafe, which suffered a R152-million loss in the year to December, is bullish on the outlook for ferrochrome in 2010. The company's declaration of its maiden dividend of 2c a share, totalling R49-million in cash,...

Xstrata invites ex-Anglo Fauconnier to join board

Anglo-pursuing Xstrata plc has invited former Anglo executive Dr Con Fauconnier to join its board as a non-executive independent director. London-listed diversified miner Xstrata said on Monday that Fauconnier would act as an independent external...

Daily Podcast - September 2, 2009

Wage negotiations between Impala Platinum and the National Union of Mineworkers had resumed on Wednesday,BHP Billiton believes long-term reforms to ease congestion at Australia's Newcastle coal port can be achieved.