Wesizwe Platinum lifts on Chinese funding wrap-up

The share price of the JSE-listed Wesizwe Platinum rose on the wrapping-up of the long-awaited $877-million (R6,2-billion) Chinese project financing package, which also contains a boost for Wesizwe's community-wracked black economic empowerment...

Mining could drive reconstruction in Africa if managed correctly

Africa, the richest continent when it comes to natural resources, is for the most part still heavily underdeveloped, owing to its inability to take advantage of its wealth. Coal of Africa Limited chairperson Richard Linnell said at a Frontier...

Wesizwe's AGM blocked by court order

Junior platinum-miner Wesizwe Platinum postponed its annual general meeting (AGM) on Thursday, owing to a court order issued by the Johannesburg High Court. Wesizwe chairperson Dawn Mokhobo said that the order related to shareholder voting rights...

Mashiatshidi to succeed Solomon as Wesizwe CEO

JSE-listed Wesizwe Platinum on Wednesday announced that the company's CFO Arthur Mashiatshidi would take over as CEO on October 1, succeeding founding CEO Mike Solomon, who has resigned. Mashiatshidi will be succeeded by Jacques de Wet, who will...

Outgoing Wesizwe CEO Solomon cleared of various allegations

South African junior miner Wesizwe Platinum on Wednesday cleared its outgoing CEO Mike Solomon of all allegations sprouting from an internal audit report in November 2009, through a forensic audit carried out by independent auditors Deloitte &...

Mike Solomon steps down as Wesizwe CEO

JSE-listed Wesizwe Platinum announced on Wednesday that Arthur Mashiatshidi would take over as CEO on October 1, succeeding Mike Solomon, who has resigned. Mashiatshidi, who is currently the CFO, will be succeeded by Jacques de Wet, who will...

Wesizwe secures 36-month equity facility

Platinum junior Wesizwe Platinum has secured a standby equity facility, which it hopes will give investors confidence that the company is equipped to weather the current global economic storm.

Wesizwe signs R550m standby facility with private equity firm

Platinum exploration and development company Wesizwe Platinum reported on Tuesday that it had signed a term sheet with YA Global Investments, of the US, for a three-year standby equity distribution facility worth R550-million. Through the...

Wesizwe, PTM and Angloplat ink definitive agreements on Western Bushveld JV changes

The partners in the Western Bushveld Joint Venture (WBJV) have executed definitive agreements to “consolidate and rationalise” their respective holdings in the projects governed by the JV. Wesizwe Platinum, Platinum Group Metals (PTM) and...

Wesizwe goes ahead with flagship SA platinum project

Platinum junior Wesizwe Platinum will proceed with its flagship 350 000-oz/y platinum-group metals (PGMs) Frischgewaagd-Ledig project, the company announced on Wednesday. As the deferral of the project was considered to be "detrimental to...

Strong poised to grow stronger as platinum industry mulls consolidation

On the one hand, the National Union of Mineworkers (NUM) president Senzeni Zokwana is calling for the creation of a State-owned platinum mining company, and on the other are an acquisitive Impala Platinum and an emerging Xstrata Resources, both...

Wesizwe in advanced talks on funds for SA platinum project

JSE-listed Wesizwe Platinum is in “advanced negotiations” with a consortium of banks to finance the company's share of its Pilanesburg platinum project, in South Africa, and expects the project finance to be in place by the end of the year....