A few years back South Africa was said to be heading towards a coal cliff but that projection is now being questioned. In the early and mid 2000, the findings of the South African Coal Roadmap were that Eskom’s contracted coal supply would plummet and its uncontracted portion balloon.
ASX-listed Allegiance Coal has struck an agreement with Cline Mining Corporation to accelerate the completion of the New Elk hard coking coal project acquisition, amending the terms of the original understanding.
Coal miner New Hope Group is seeking a meeting with the Queensland government over the next few days to discuss the future of its Stage 3 expansion at the New Acland mine, after the High Court of Australia granted community group Oakey Coal Action Alliance (OCAA) special leave to appeal an earlier ruling on the mine’s expansion.
Democratic Republic Congo-focused Katanga Mining is now wholly-owned, directly or indirectly, by multicommodities trader and miner Glencore, having completed the going-private transaction announced in April.
The company has applied to the Toronto exchange to delist its common shares.
Uranium developer Peninsula Energy will raise A$40.3-million in a fully underwritten renounceable entitlement offer to repay its existing term debt.
Eligible shareholders would be allowed to subscribe for nine new shares in Peninsula for every five shares held, at an issue price of 7.1c a share.
Toronto-listed gold miner Guyana Goldfields has received a binding proposal from a foreign-based multinational mining company for the acquisition that is superior to that of fellow-listed Silvercorp Metals, valuing it at C$323-million.
ASX-listed Legend Mining will raise A$20-million through a share placement to existing major shareholders, and institutional and sophisticated investors, to fund exploration activities at its Rockford project, in the Fraser Range.
Mining personality Clive Palmer was left jubilant on Wednesday after the Queensland Supreme Court dismissed claims of A$124-million against the billionaire.
The judgment by Justice Debra Mullins followed a civil trial into the 2016 collapse of Queensland Nickel (QNI), which left 800 employees without work and about A$200-million owed to creditors.
Gold miner Perseus Mining has made a A$59.8-million takeover offer for ASX-listed Exore Resources.
Exore holds some 2 000 km2 of tenements in northern Cote d’Ivoire, near Perseus’ Sissingue gold mine, with the junior company holding an 80% joint venture interest in exploration permits making up the Bagoe and Liberty projects.
Diamond miner Lucapa has raised A$5.25-million through its non-renounceable pro-rata rights issue to bankroll its search for the primary kimberlite source of the high value alluvial diamonds recovered at its Lulo project, in Angola.