Coal mining company Arch Resources on Thursday unveiled a strategic plan for its thermal coal assets, announcing that it would systematically wind down its Powder River basin mines over the coming years, while it continued to search for a buyer.
Coal miner MC Mining reported on October 22 that a South African company had not paid the subscription fee of about R10-million for over 7.8-million MC Mining shares, as agreed to during a September transaction.
Junior Lefroy Exploration will raise A$4.5-million through a share placement to fund exploration work at its namesake gold project, in Western Australia.
Diversified mining group Anglo American has posted a 24% increase in production in the third quarter, compared with the second quarter of the year, while operating at 95% of normal capacity across its subsidiaries’ operations in regions including Canada, South Africa, Australia, Finland and South America.
JSE-listed investment company Unicorn Capital Partners (UCP) has advised that its subsidiary, Nkomati Anthracite, has entered into business rescue.
Daniel Terblanche has been appointed as the business rescue practitioner.
The directors of takeover target Cardinal Resources have urged shareholders not to take any action regarding an increased offer price from suitor Nordgold.
Nordgold on Wednesday increased its offer price for Cardinal shares from 90c a share to A$1 a share, matching an offer from fellow-suitor Shandong Gold Mining.
Gold miner Gascoyne Resources has resumed trading on the ASX following the completion of a A$125-million recapitalization programme.
Demand for thermal coal in the US will remain in secular decline in the 2020s, regardless of the outcome of the Presidential elections early next month, driven by a combination of factors, including persistently low natural gas prices and increasing emphasis on renewably energy.
ASX- and TSX-V-listed Jervois Mining has raised A$45-million through a share placement to order long lead items for its Idaho cobalt operation, and to fund detailed engineering and ongoing site costs.
Dual listed gold miner OceanaGold has completed its C$150-million bought deal equity financing, issuing 73-million common shares at a price of C$2.06 each.
The offered shares have been listed on the Toronto Stock Exchange.