Aim-listed Savannah Resources has increased its interest in Matilda Minerals, which holds the prospecting rights to the 180 km2 Jangamo heavy mineral sands tenement, in Mozambque, to 100%, by acquiring a further 20% equity interest in the entity. This 20% interest has been secured in consideration of A$100 000, payable through the issue of 1.19-million ordinary shares of 1p in the company at an issue price of 5.056p. “We’re pleased to have reached agreement …
LONDON–(BUSINESS WIRE)–#MetalsandMinerals–Technavio market research analysts forecast the global non-ferrous castings market to grow at a CAGR of almost 6% during the period 2017-2021.
Diversified miner African Rainbow Minerals (ARM) expects its headline earnings a share for the 2017 financial year to be between R16.25 and R17.02, 229% to 245% higher than the headline earnings a share of R4.94 achieved in the 2016 financial year. The JSE-listed company noted in a trading statement on Monday that its headline earnings for the year ended June 30 had been positively impacted on by an increase in the average dollar commodity prices, which was partly offset by the negative impact of a stronger rand/dollar exchange rate.
Aim-listed exploration and development company Sula Iron & Gold has secured subscriptions for an aggregate of £900 000 through the issue of about 616-million new ordinary shares of the company at a price of 0.146p per ordinary share. The net proceeds of the subscription will fund the company’s exploration activities at its Ferensola gold project, in Sierra Leone, into 2018. As part of the financing and to increase funds available for exploration, the board has agreed to a 50% reduction in its salaries until December 2017.
Chemicals and energy group Sasol has announced that an asset-review process is under way that could result in the sale, closure or growth of certain assets. However, the JSE-listed company has also stressed that there will be no “fire sale”. Joint president and CEO Bongani Nqwababa reports that the review is being conducted “against stringent financial metrics” with the objective of improving the company’s return on invested capital.
Aim- and ASX-listed Tlou Energy has been granted a mining licence for its Lesedi coal-bed methane (CBM) gas project, in Botswana. “The mining license for the Lesedi CBM project was the first application of its kind to be lodged in Botswana. The awarding of the licence by the Ministry [of Mineral Resources, Green Technology and Energy Security] is a major milestone for the company, further de-risks the project and is an important prerequisite to developing the first commercial gas-to-power project in the country,” MD Tony Gilby said in a statement on Monday.
ASX-listed Yancoal has narrowed its loss during the financial half-year ended June, as higher demand for quality thermal coals drove price improvements throughout the reporting period, buoyed by the impact of the Queensland cyclone event at the beginning of the year.
The miner reported an after-tax loss of A$13.9-million, compared with the A$180.5-million loss of the previous corresponding period.
JSE-listed energy and chemicals group Sasol will approach the Supreme Court of Appeal (SCA) to resolve a tax dispute with the South African Revenue Service (Sars), which has slapped it with assessments for outstanding tax liabilities and penalties worth R12.8-billion. The company made a R1.2-billion provision in its 2017 financial statements for tax liabilities that could flow from an adverse Tax Court finding of June 30, relating to international crude oil procurement activities between 2005 and 2012. Sasol procures crude oil for processing in the Natref refinery, in the Free Sate.
Iron-ore major Fortescue Metals has doubled its net profit for the year ended June 30, reflecting the higher iron-ore prices during the year, as well as a sustained focus on productivity and efficiency initiatives that resulted in record low C1 cash costs.
Net profit after tax was reported at $2.1-billion, compared with the $985-million reported in the 2016 financial year, with revenue increasing by 19% to $8.4-billion, compared with the $7.1-billion reported in 2016.
US oil and gas major Chevron has withdrawn its High Court appeal over a A$340-million bill from the Australian Taxation Office (ATO).
The withdrawal means that the Full Federal Court decision of April is now final.
纽约–(BUSINESS WIRE)–(美国商业资讯)–韦伦氏集团已就昂高(Archroma)资本重组事宜，向SK Capital Partners, LP提供了公允意见，其中包括由SK Capital旗下多个附属机构所开展的投资。交易条款没有披露。 关于SK Capital SK Capital是一家私营投资公司，专注于特种材料、化学品和制药行业。公司致力于打造不断发展壮大的强劲业务，从而为其投资者创造巨大的长期价值。SK Capital利用其行业、运营和投资经验来发现机遇，并通过更好的策略定位、增长、盈利和风险预测，改善企业的绩效。公司目前管理的资产约为19亿美元，其资产组合公司的年营收额超过了50亿美元，聘用约8,700名员工。 关于昂高 昂高是一家国际化色彩和特种化学品公司，总部位于瑞士巴塞尔附近的莱纳赫。公司拥有3,000名员工和24个生产厂，遍布超过35个国家。公司的三大业务——品牌与特种高性能纺织品、包装与特种纸，以及涂料、粘合剂与密封剂——致力于交付专业的性能和色彩解决方案，以满足客户在当地市场的需求，从而惠及全球人民的日常生活，并为其带来丰富的色彩。 关于韦伦
LITTLETON, Colo.–(BUSINESS WIRE)–Rare Element Resources Executes Investment Term Sheet with General Atomics Uranium Resources
NEW YORK–(BUSINESS WIRE)–The Valence Group heeft SK Capital Partners LP een fairness opinion gegeven met betrekking tot de herkapitalisatie van Archroma, inclusief investeringen door enkele dochterondernemingen van SK Capital. Financiële details van de transactie zijn niet bekendgemaakt. SK Capital investeert in specialistische materialen, chemicaliën en de farmacie. Het kantoor bouwt sterke en groeiende bedrijven uit, zodat ze op de lange termijn van substantiële waarde zijn voor zijn invest
NUEVA YORK–(BUSINESS WIRE)–The Valence Group ha ofrecido su parecer “pro veritate” a SK Capital Partners, LP en relación con su recapitalización de Archroma, incluyendo inversiones realizadas por varias filiales de SK Capital. No se han desvelado las condiciones de la transacción. Acerca de SK Capital SK Capital es una firma de inversión privada centrada en los sectores de los materiales especiales, los productos químicos y farmacéuticos. Acerca de Archroma Archroma es una empresa de producto
The Portland smelter, in Victoria, is expected to return to full production shortly, securing the future of more than 650 employees and contractors, Industry and Employment Minister Wade Noonan reported on Monday.
Aluminium major Alcoa in January initiated work to restart smelting capacity, after a five-hour power outage on the Victorian transmission network in December had placed the smelter’s future in jeopardy.
A review of the staged production plan tipped for the Telkwa metallurgical coal project, in British Columbia, has resulted in significant cost savings.
ASX-listed Alliegiance Coal said on Monday that the Stage 1 start-up costs estimated in the prefeasibility study (PFS) has now reduced from an estimated $51-million to $36-million.
Quinton Todd Hennigh has spent 13 years scouring the Earth for clues to back a hunch: that the world’s biggest gold resource has lost siblings elsewhere on the planet. Now the president of Novo Resources Corp thinks he may have found a counterpart of South Africa’s Witwatersrand in the ancient red rocks near Australia’s northwest coast. In July, his company zeroed in on a gold find that’s confounded geologists and sparked a 500% surge in the explorer’s share price.
UK-based mining investment firm Cadence Minerals is in negotiations to sell its interest in Aim- and TSX-V-listed lithium developer Bacanora Minerals, the company announced on Monday.
Cadence said that during the course of discussions with institutional investors about the potential sale of its 16.06% interest in Bacanora, a single strategic investor group had taken an interest in buying a “material portion” of its stake in that company.
The Chamber of Mines (CoM) has submitted a replying affidavit in the High Court, in Pretoria, in response to Mineral Resources Minister Mosebenzi Zwane’s August 7 affidavit in an interdict application against the implementation of the Reviewed Mining Charter. Zwane in June introduced the Reviewed Mining Charter, which has been strongly criticised by the mining industry.
Platinum group metals (PGMs) processor Sylvania Platinum has posted a net profit of $8.87-million for the year ended June 30, compared with a profit of $3.73-million in the 2016 financial year. The company’s Sylvania Dump Operations (SDO) had achieved a fourth consecutive year of record production, at 70 869 oz, for the 2017 financial year – a 17% increase on the 60 643 oz produced in the 2016 financial year.
China Minmetals Corp (CHMIN.UL) plans to invest 10-billion yuan ($1.50-billion) to upgrade its copper, lead and zinc smelting facilities Hunan province, a spokesman confirmed on Monday, after a recent rebuke from the Ministry of Environmental Protection (MEP).
The company will invest in new smelting technology starting this month that eliminates the discharge of industrial wastewater, Huasheng Online, a website run by the Hunan provincial government, reported on Friday, citing Huang Guoping, chairman of China Minmetals Nonferrous Metals Co.
DUBLIN–(BUSINESS WIRE)–The “The Netherlands: Tin Ores And Concentrates – Market Report – Analysis And Forecast To 2025” report has been added to Research and Markets’ offering. The report provides an in-depth analysis of the Market for Tin Ores And Concentrates in The Netherlands. It presents the latest data of the market size and volume, European production, exports and imports, price dynamics and turnover in the industry. The report shows the sales data, allowing you to identify the key dri
DUBLIN–(BUSINESS WIRE)–The “The United Kingdom: Fluorspar – Market Report – Analysis And Forecast To 2025” report has been added to Research and Markets’ offering. The report provides an in-depth analysis of the Market for Fluorspar in The United Kingdom. It presents the latest data of the market size and volume, European production, exports and imports, price dynamics and turnover in the industry. The report shows the sales data, allowing you to identify the key drivers and restraints. You c
Explorer Beowulf Mining on Monday announced that it would move ahead with its exploration programme in Sweden, with work focusing on the Parikijaure licences to the south of its Kallak project.
The magnetic signature of magnetite mineralisation at Kallak extends southwards from Kallak North to Kallak South, and then beyond to the Parkijaure licences.
Production of 1.748-million ounces after strong second-quarter recovery has put AngloGold Ashanti virtually at the halfway mark to meet full year guidance, CEO Srinivasan Venkatakrishnan said on Monday in presenting the company’s half-year results that also saw full-year cost guidance remain intact. All-in sustaining costs (AISC) of $1 071/oz for the 12 months to June 30 compared with $911/oz in the corresponding period of last year reflected planned brownfield investment and stronger currencies, which were up 14% in both South Africa and Brazil.
Robert Yuksel Yildirim had barely been at the family’s construction-materials business a year before the company won its first international contract. Now, it’s a conglomerate with interests in mining, ports and chemicals across 28 countries.
Twenty four years after the deal to import coal directly from Russia was sealed, the impetus to expand Yildirim Holding beyond its Turkish home base is stronger than ever. The political fallout from a failed coup in July last year is hindering economic growth and making it harder for firms to operate in a market many see as saturated, cluttered with red tape and expensive for acquisitions.
Project delivery and engineering consultancy WorleyParsons RSA is answering South Africa’s call for broader economic participation and transformation. The local company, which is part of the Australian Securities Exchange-listed WorleyParsons engineering group that serves the resources and energy sectors globally, has been working intensely with 13 enterprise development companies (EDs) to achieve mutual growth and to promote transformational business development among previously disadvantaged South Africans.
US President Donald Trump is eyeing Afghanistan’s mineral wealth to help pay for a 16-year war and reconstruction efforts that have already cost $117-billion. Investors who have studied the country, one of the world’s most dangerous, say that is a pipe dream. Ever since a United States Geological Survey study a decade ago identified deposits later estimated to have a potential value of as much as $1-trillion, both Afghan and foreign officials have trumpeted the reserves as a likely key to economic independence for Afghanistan.
Zambia has restored full electricity supply to the mines of First Quantum Minerals, the ministries of finance and energy said on Saturday, after reducing power to the mines earlier this week in a dispute over new, higher prices. Zambia’s state power company reduced electricity supply to two First Quantum copper mines because the mining firm had failed to pay the new flat electricity tariff of 9c/kWh agreed by the utility Zesco and mining companies, Energy Minister David Mabumba said on Tuesday.
Singers from a number of WA choirs joined forces over the weekend to set a record by singing in the Super Pit.
