Mvela proceeds with unbundling as it wins Khumama arbitration

JSE-listed Mvela Resources’ share price rose more than 7% on Friday, after it announced that the arbitration to resolve a long-standing contractual dispute with its former shareholder, Khumama Platinum, went its way. Commercial manager James...

Mvela sells Gold Fields shares worth R1,1bn

JSE-listed Mvela Resources this week sold ten-million shares in Gold Fields, raising R1,1-billion in proceeds. The shares were sold at an average of R106,63 a share.

Mvela Resources expects headline earnings to fall

JSE-listed Mvela Resources expects to report significantly lower headline earnings a share when it releases its full-year results on September 27. The company said headline earnings a share could fall to between 5c a share and 13c a share in the...

Booysendal platinum project, South Africa

The Booysendal project is based on a 103-million-ounce resource, which is shallow and conducive to mechanised mining methods.

Mvela sells Northam stake to ENRC for R2,2bn

JSE-listed Mvelaphanda Resources announced on Monday that it would sell 12,2% of its holding in platinum-miner Northam Platinum to the global diversified mining group Eurasian Natural Resources Corporation (ENRC). The South African black...

Mvela Resources FD steps down

Nokhanyiso Ntsaluba will resign as financial director of South African mining group Mvelaphanda Resources at the end of the month, the JSE-listed company reported on Friday. Ntsaluba decided to “pursue other opportunities” following Mvela...

Mvela Resources not interested in acquiring Incwala

Black economic empowerment (BEE) resources firm Mvelaphanda Resources (Mvela) on Friday refuted claims that it was interested in acquiring control of platinum producer Lonmin’s black empowerment partner, Incwala. Mvela said in a statement that...

Company Announcement: Solid operating performance from the Zondereinde mine Metal price slump dents profits

Attached please find a press release on: Commenting on developments in the year, Northam CEO Glyn Lewis said today that the finalisation of the Booysendal transaction and the implementation of the agreements associated with the acquisition of the...

Xstrata-pursued Anglo underperforms on R16bn AngloPlat rights-offer leak

Xstrata-pursued Anglo American was underperforming an ascending mining sector in London amid unconfirmed leaks that its rand-hit Anglo Platinum (AngloPlat) subsidiary would announce a $2 billion (R16,2-billion) rights issue at its first-half...

Angloplat warns earnings could drop by up to 75%

JSE-listed platinum producer Anglo Platinum on Wednesday warned shareholders that basic earnings a share for the six months ended June 2009, were expected to be between 65% and 75% lower than the figures reported for the corresponding period in...

Daily podcast – June 5, 2009

In today's podcast: Rio Tinto and BHP Billiton announce that they will combine their major Australian iron ore operations; and Mvelaphanda Resources will delist from the JSE in early 2010.

Buy or unbundle vote will be put to shareholders – Mvela

The shareholders would decide whether the JSE-listed Mvela Resources bought mining assets on offer or unbundled, Mvela executive manager: commercial James Wellsted confirmed to Mining Weekly Online in a clarification statement on Thursday.