ASX-listed Adriatic Metals has completed a A$25-million institutional placement, announcing on Wednesday plans for a secondary listing on the London Stock Exchange before the end of the year.
Junior miner Black Royalty Minerals (BRM), a subsidiary of the Makole Group, has been selected as the preferred bidder to acquire the Koornfontein coal mine, in Mpumalanga.
The transaction includes the mine’s port allocation at the Richards Bay Coal Terminal.
ASX-listed TerraCom has taken a 19.9% stake in South Africa-focused coal miner Universal Coal, in a deal worth A$34.6-million.
TerraCom on Wednesday said that it had acquired 104.5-million Universal securities from Coal Development Holding for A$17.3-million in cash and some 34.2-million of its own shares.
Coal baron Robert Murray’s support for union miners is part of the lore surrounding a man who’s worked in the industry for six decades. Now, that battle has ended.
ASX-listed junior Eagle Mountain Mining is hoping to gain an 80% interest in the Oracle Ridge copper mine, in Tucson, for $6.9-million. Eagle Mountain on Tuesday told shareholders that it was advancing discussions with the vendor, but was yet to execute a letter of intent, as the vendor was awaiting approval by the Arizona Superior Court.
The directors of takeover Azumah Resources has supported an increased offer from suitor Ibaera Capital, which has increased its offer from 2.8c a share to 3.3c a share.
Azumah on Monday said that the increased offer represented a 136% premium to the company’s closing price prior to the announcement of the offer, and an 18% premium to the initial offer.
Aim-listed Edenville Energy has appointed Alistair Muir CEO, effective November 1.
He succeeds Rufus Short, who is stepping down to devote more time to family and other interests, but will continue serving on the board as nonexecutive director.
The Brazilian joint venture (JV) between majors BHP and Vale, Samarco, has been given all the necessary environmental licenses to restart its operations in the state of Minas Gerais.
The Samarco operations were suspended in November 2015 after the collapse of a tailings dam, claiming the lives of 19 people and displacing numerous others.
Uranium hopeful Vimy Resources has launched a share purchase plan (SPP) aimed at raising A$3.9-million to strengthen its balance sheet and bolster working capital.
Diversified miner Glencore achieved higher output of cobalt, zinc and coal in the nine months ended September 30, but copper, nickel and ferrochrome production decreased year-on-year.
The LSE- and JSE-listed company’s own-sourced copper production for the period under review was 47 300 t, or 4%, lower year-on-year at 1.01-million tonnes.