Mvela says Khumama arbitration to run into late July

SE-listed Mvelaphanda Resources said on Tuesday that it remained confident that its unbundling would be completed before the end of the 2010 calendar year, despite an arbitration hearing now running into July. Arbitration to resolve a dispute...

Khumama arbitration set to delay Mvela's unbundling

The arbitration to resolve the long-standing contractual dispute between JSE-listed Mvelaphanda Resources and its former shareholder Khumama Platinum is expected to delay the Mvela unbundling process, the company said on Tuesday. Mvela said that...

En bloc Gold Fields' shares sale okay at right price – Mvela

The black economically empowered Mvelaphanda Resources (Mvela) would sell its 39-million Gold Fields shares en bloc provided the price matched the value that the unbundling company envisaged realising from the stake, Mvela executive manager:...

Real Economy Report

This is the Real Economy Report. Our top stories this week: we visit a new R120-million pressure part facility, built to provide boiler parts into Eskom’s big build programme; we look at the impact of the global recession on air passenger...

Mvela Resources in discussion to buy assets in possible equity deal

The JSE-listed black-controlled resources company Mvela is in discussion with an unnamed South African group to buy its assets in a possible equity transaction, Mvela executive manager: commercial James Wellsted confirmed to Mining Weekly Online...

Gold Fields shares sell like hot cakes, Mvela halves debt

Eleven million Gold Fields’ gold shares have sold like hot cakes, halving the debt obligation of Tokyo Sexwale’s Mvela Resources. Mvela, which received 50-million Gold Fields shares on March 17, still has 39-million shares and another 11...

Platinum BEE Mvela outlines plan to unlock R2bn as JSE tightens up

Debt-laden platinum empowerment company Mvelaphanda Resources (Mvela) on Thursday outlined a plan to unlock R2-billion out of its flawed pyramid structure that the JSE had ordered it to fix by August. Mvela executive manager: commercial James...

Mvela swings to profit, announces R2,1bn debt restructuring

JSE-listed mining investment firm and explorer Mvelaphanda Resources (Mvela) has reported an increase in basic earnings of 228c a share for the six months ended December 2008, compared with a basic loss of 114c a share for the comparable period in...

Implats bid for Mvela, Northam gets SA govt nod

South Africa's Department of Minerals and Energy (DME) has confirmed that, should Impala Platinum's planned acquisition of Mvelaphanda Resources and Northam Platinum go ahead, the deal will not affect black economic-empowerment (BEE) credits...

Implats makes its move on Mvela, Northam

Following weeks of speculation, world-number-two platinum producer Impala Platinum has come clean with a proposal to buy South Africa's Mvelaphanda Resources and platinum-miner Northam Platinum for about R21,2-billion (around $2,5-billion) in cash...

Booysendal 'next Impala Rustenburg', may replace Leeuwkop – analysts

Shallow Booysendal had the potential to be the next Impala Rustenburg and might replace Impala Platinum’s (Implats') deep Leeuwkop project, Royal Bank of Canada (RBC) analysts said on Monday. RBC Europe analyst Leon Esterhuizen, with associates...

Acquisitive Mvela Resources interested in platinum juniors

JSE-listed Mvelaphanda Resources (Mvela), which made a R185-million profit for the year to June 30, said that it was feeling acquisitive, particularly in the platinum sector. The company already owns a 63% stake in Northam Platinum, and the power...