Global Mining News in real time

Harmony interim FD Abbott to retire

By: Esmarie Swanepoel South African gold producer Harmony Gold has appointed Hannes Meyer as its financial director, effective from August 1. Meyer’s appointment follows Harmony’s interim financial director Frank Abbott giving notice of his early retirement. Abbott would hand over his responsibilities to Meyer on... 

Arm/Vale lock arms in Africa, Teal to delist

By: Martin Creamer South Africa’s African Rainbow Minerals (Arm) has secured its deal with the huge Vale of Brazil to work together in Africa and Arm’s former African exploration company, Teal, is to delist. Arm on Wednesday announced the completion of the transaction to acquire the shares held by minority... 

Teal gets R385m help from Arm, may need to raise more 

By: Liezel Hill Teal Exploration & Mining has fully utilised an unsecured $85-million loan facility guaranteed by majority shareholder African Rainbow Minerals (Arm), and remains “dependent” on the diversified miner for continued support, the company said on Friday. Teal, which has copper and cobalt projects... 

Teal shareholders will vote Feb 13 on Arm deal

By: Liezel Hill Teal Exploration & Mining has scheduled a special meeting on February 13, for shareholders to consider and approve the transaction announced on December 15 by African Rainbow Minerals (Arm) and Companhia Vale do Rio Doce. Arm, which owns 65% of Teal, plans to buy out minority shareholders for... 

Arm to buy out Teal minorities, forms JV with Brazil's Vale

By: Liezel Hill JSE-listed diversified miner African Rainbow Minerals (Arm) plans to buy the shares in Teal Exploration & Mining that it doesn't already own and delist the company from the TSX and JSE, the firm announced on Tuesday. Arm has then agreed to form a 50:50 joint venture with iron-ore giant Companhia... 

African Rainbow Minerals to spend R12bn in next four years, says Patrice Motsepe

By: Martin Creamer Diversified black-controlled mining company African Rainbow Minerals (ARM) will be investing R12-billion in projects in the next four years. Executive chairperson and founder Patrice Motsepe said the R12-billion expenditure between 2008 and 2011 would reflect the second major expansionary phase... 

ARM considering ‘a number of platinum opportunities’ in Zimbabwe – CEO

By: Martin Creamer Diversified mining company African Rainbow Minerals (ARM) was considering “a number of platinum opportunities” in Zimbabwe, where it had registered a company, ARM CEO André Wilkens said on Monday. Wilkens spoke after ARM executive chairperson Patrice Motsepe had described Zimbabwe as a “very,... 

Teal reports encouraging results from DRC copper prospect

By: Liezel Hill TSX- and JSE-listed Teal Exploration & Mining on Friday published additional high-grade drilling intersections from its Lupoto copper prospect, in the Democratic Republic of Congo (DRC).  

Teal chief Menell to retire

By: Liezel Hill TSX- and JSE-listed Teal Exploration & Mining announced on Tuesday that president and CEO Rick Menell would step down immediately, handing the reins to CFO Hannes Meyer, who would assume the role of acting CEO. Menell, who had led the company since it was formed in 2005 to house the nonSouth... 

More drilling due for Konkola North

African focused mining company, Teal Exploration and Mining, announced that the company is set to continue drilling at its Konkola North Area A project, in Konkola Zambia.  

We aim to be twice the size by 2010, says Arm CEO Wilkens

By: Leandi Kolver Diversified South African miner African Rainbow Minerals (Arm) CEO Andre Wilkens said at the company’s 2007 interim results presentation that, “the company has scope on its balance sheet to grow and move forward into developing more projects.” 

Teal gets notification from DRC review

By: Christy van der Merwe Exploration and development miner Teal, on Tuesday said it had received written notification from the Minister of Mines of the Democratic Republic of the Congo (DRC), informing the company of the outcome of that country's mining contracts review commission with respect to it's... 

Arm seeks clarity on new Zambian copper tax before pulling Konkola North trigger

By: Terence Creamer Diversified South African miner African Rainbow Minerals (ARM) and its exploration and development subsidiary, Teal Exploration & Mining, would make a call on the funding arrangements for the 25 000 t/y, $160-million Konkola North copper project, in Zambia, within the next few months, CEO... 

Teal wraps up drilling programme at DRC copper project

By: Christy van der Merwe TSX- and JSE-listed African focused explorer Teal Exploration & Mining's drill programme at the Lupoto copper project, in the Democratic Republic of Congo (DRC), has been completed, and a resource calculation is now under way. 

Teal upgrades Namibian project from 'inferred' to 'indicated'

By: Matthew Hill JSE-listed exploration firm Teal on Friday said that an independent person had supported the conversion of 460 000 oz of gold at its Namibian Otjikoto project into the indicated mineral resource category. 

Teal now secures $50m bridging facility from Standard Chartered

By: Olivia Soraya Spadavecchia Toronto-based Teal Exploration & Mining has secured an increased $50-million bridging facility from financial services provider Standard Chartered Bank. 

Teal forms JV on Namibian gold mine, in talks to sell DRC stake

Toronto-based Teal Exploration & Mining has agreed to sell an initial 10% of Avdale Namibia, the subsidiary of Teal holding its Otjikoto gold project, to Nambia’s EVI Mining, which has an option to buy a further 5% once a definitive feasibility study has been completed on the project.  

Company Announcement: Teal Concludes Local Partnership In Namibia And Signs Mou In The DRC

Attached please find a press release on: Teal Exploration & Mining Incorporated (TSX-“TL”) (JSE-“TEL”) (“TEAL” or the “Company”) has announced the conclusion of a partnership with EVI Mining Company Limited (“EVI”) in Namibia, and... 

Confident of 80 000 t/y in three years from African deposits, says Teal's Menell

By: Martin Creamer Toronto- and Johannesburg-listed exploration and mining company Teal is confident of attaining its 80 000 t of copper a year target by 2010 with its existing African portfolio. 

Low-hanging fruit still in Africa, says Motsepe

By: Christy van der Merwe With a focus on accelerating exploration and production build-up in Africa, diversified miner African Rainbow Minerals (Arm) increased exploration expenditure to R126-million, through TSX- and JSE-listed exploration and mining company Teal. 

Like Topsy, Teal's Namibian gold resource just grows and grows

By: Christy van der Merwe Estimated resources have increased at TSX- and JSE-listed Teal Exploration & Mining's wholly owned Otjikoto project, in Namibia. This comes after an ongoing infill-drilling programme confirmed the geological continuity of the orebody. 

Teal lifts resource estimate at Namibian gold project

Mining development and exploration company Teal said on Thursday that resources at it Otjikoto gold project, in Namibia, had increased by more than 35% ,to 1,76-million ounces. 

Mwambashi copper project, Zambia

By: Sheila Barradas Mwambashi copper project aims to produce 12 000 t of finished copper a year. 

Teal says Konkola North study should be completed in six months

TSX- and JSE-listed Teal Exploration & Mining said it expected to complete a feasibility study on the Konkola North copper project's southern limb, in Zambia, within six months. 

Teal granted Mwanbashi copper licence in Zambia

The Zambian Mines and Minerals Minister Kalombo Mwansa has granted exploration and mining company Teal a large-scale mining licence to develop its 12 000-t/y Mwambahi copper project. 

Zambian govt gives Teal go-ahead for Mwambashi copper project

By: System Author Zambia’s Mines and Minerals Minister, Kalombo Mwansa, has granted exploration and mining company Teal a large-scale mining licence to develop its 12 000-t/y Mwambashi copper project. 

Teal has big potential, says ARM CEO Wilkens

By: Martin Creamer Exploration company Teal has the potential to be a large copper-producing company in the next three to five years. 

Teal has big copper potential, says ARM CEO Wilkens

By: Martin Creamer Exploration company Teal had the potential to be a large copper-producing company in the next three to five years, ARM CEO Andr 

Teal puts Zambia copper projects on fast track

By: Nelendhre Moodley Mineral development and exploration company Teal, which posted a net loss of $9-million at its financial year-end, was ramping up exploration projects in Zambia, Namibia and the DRC. 

Teal acquires 5 000 t/y copper furnace for DRC

South African exploration company Teal has bought an electric arc-furnace with a capacity to produce about 5 000 t/y of copper. 

Exploring Teal expects to update Namibian gold-resource estimate in two months

By: Nicola Mawson Toronto Stock Exchange- and JSE-listed exploration company Teal has announced that it expects to provide an updated resource estimation at its Namibian Otjikoto gold project by the end of July. 

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