Unfolding environmental disaster
A security company responsible for safeguarding a gold treatment plant belonging to Mintails on the West Rand withdrew last week, citing “financial constraints”.
Media Room
Gold Fields sells down stake in Maverix Metals
Gold miner Gold Fields, through its Gold Fields Netherlands Services (GF Netherlands) subsidiary, has sold down its stake in Vancouver-based precious metals royalty and streaming company Maverix Metals to 11.65%, the company reported on Tuesday.
Macmahon eyes acquisition
Mining contractor Macmahon has confirmed market speculation that it is in discussions about a potential acquisition of GBF Underground Mining Group.
The potential transaction is still in the early stages, Macmahon said in an announcement to the ASX last week.
Two down, one to go as Resgen advances funding talks
ASX- and JSE-listed Resource Generation on Monday said it had received credit approval from a second member of its proposed lending syndicate for the development of the Boikarabelo coal mine in South Africa’s Waterberg region.
The company said the confirmed participation from the funder should facilitate completion of the project finance for the construction of the mine.
Patagonia Gold shares jump on Hunt Mining takeover
The share price of Aim-listed mining company Patagonia Gold jumped 15% on Friday to 61.55p a share, following news that it agreed to a takeover by Canadian firm Hunt Mining.
Lower production to cut Wescoal’s full-year earnings
Lower production and lower sales volumes have contributed to a decrease in JSE-listed Wescoal’s headline earnings per share (HEPS) and earnings per share (EPS) for the financial year ended March 31. The group, which will release its results on June 25, on Friday said it expected its HEPS to be between 17.4c and 20.8c – a year-on-year decrease of between 55% and 63%.
Resgen requests trading halt
Coal mine developer Resource Generation (Resgen) on Friday requested that trading in its shares on the ASX and JSE be halted, pending the release of an announcement early next week. Resgen said the trading halt was requested pending an announcement on the achievement of a market sensitive milestone in relation to securing project funding the for the Boikarabelo mine.
Trump campaign official lobbies for Ohio coal, nuclear subsidies
The Ohio House of Representatives on Wednesday approved a measure that would subsidize the state’s struggling coal and nuclear plants after lobbying from a member of President Donald Trump’s re-election campaign.
Wescoal to acquire remaining minority interest at Neosho
JSE-listed Wescoal has, through its wholly-owned Keaton Energy subsidiary, entered into and executed an agreement to acquire Mbabazini Esther Dhladla’s shares in Neosho Trading – the owner of the Moabsvelden project. Keaton will acquire the shares, which represent about 7.8% of Neosho’s issued share capital, for R10.5-million.
NTPC aims for 10.4Mt of captive coal production this year
India’s largest power producer, NTPC, has set a target of mining 10.4-million tons of coal from its captive mines during 2019/20.