Hastings raises funds for Yangibana
Rare earths developer Hastings Technology Metals will raise A$12-million through a share placement to institutional and sophisticated investors.
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CIL supply linkage rationalisation saves power stations costs
At least 58 thermal power plants in India have been able to save an estimated $531-million since Coal India Limited (CIL) started rationalising its coal supply linkages, the mining company has claimed. The rationalisation exercise, which started in 2015, entails replacing coal sourced from distant mines to mines closer to the thermal power plant, aiming to lower transportation costs.
Edenville inks two key coal supply contracts
Aim-listed Edenville Energy has signed two new significant contracts to supply washed coal from the company’s flagship Rukwa coal project, in western Tanzania. The two contracts are for the supply of up to 6 000 t and up to 3 000 t, respectively, of washed coal a month to industrial customers in Rwanda and Uganda.
Anglo revises its production guidance for diamonds, iron-ore, coal lower
Global diversified miner Anglo American on Tuesday released its updated production guidance for the next three years, with diamonds and iron-ore revised lower.
The company, through its diamond subsidiary De Beers, now expects to produce between 32-million and 34-million carats in the 2020 financial year, down from the prior target of between 33-million and 35-million carats.
Lurco's application against Koornfontein sale to be heard in January
Coal and chrome beneficiation and trading company Lurco Group is forging ahead with plans to take legal action against the sale of Koornfontein coal mine, with a new court date set for January 28, 2020. Providing an update on the current status of the sale of the mine on Tuesday, the group noted that it was forced to stand down following its court appearance earlier this month, owing to other
Titan increases offer for Core Gold
ASX-listed Titan Minerals has increased its takeover offer for TSX-V-listed Core Gold.
Titan in September launched a takeover offer for Core Gold, offering its shareholders 2.5 fully paid titan shares for each Core share held, valuing the Canadian takeover target’s shares at 42.2c each.
Impala Platinum’s Canada acquisition to close this week
All the required regulatory approvals for South African miner Impala Platinum’s (Implats’) acquisition of Canadian miner North American Palladium (NAP) have been received.
The C$758-million, or R11-billion, transaction remained on track to close on December 13, NAP said in a statement on Monday.
Erris to explore for gold in central Scotland
Europe-focused explorer Erris Resources has entered into an option to acquire 80% of the Loch Tay gold and base metals project in Scotland.
The option agreement with GreenOre allows Erris to explore for gold on the area covered by the Loch Tay licence, in Perthshire.
Afarak warns of retrenchments at South African subsidiaries
Specialist alloy producer Afarak has said two of its South African subsidiaries – Afarak Mogale and Ilitha Mining – might retrench some employees. The subsidiaries have issued a notice, in terms of Section 189 of the Labour Relations Act, to start to a 90-day period of consultations with workers and their representatives.
Aspire looks at funding options for Ovoot plant
Metallurgical coal developer Aspire Mining has signed a non-binding memorandum of understanding (MoU) with Sinosteel Equipment & Engineering to discuss engineering, procurement and construction (EPC) funding options for the Ovoot early development project wash plant, in Mongolia.