ASX-listed Amani Gold will raise A$25-million through a share placement to fund drilling and metallurgical test work for feasibility studies at its Kebigada project, in the Democratic Republic of Congo (DRC).
Iron-ore miner Fortescue Metals has increased its senior note offering from $1-billion to $1.5-billion, after significant investor demand.
The appointment of Cork Gully’s Stephen Cork and Jo Milner as joint administrators for embattled diamond development company DiamondCorp became effective on Wednesday. Late in April, the company had filed notice of its intention to appoint the administrators after the board had determined that the company was no longer able to continue trading as a going concern.
Diversified major Glencore has started the sales process for its Tahmoor underground coal mine, in New South Wales, after announcing in August last year that it would not continue mining beyond 2018, on the basis that ongoing operations would not meet the company’s internal investment criteria.
Iron developer Flinders Mines will raise A$16-million through a nonrenounceable entitlement offer, priced at 5.5c a share.
ASX-listed junior Auris Minerals will raise A$2.5-million through a share placement to fund exploration in the Bryah basin.
The company will issue 36-million new shares at 7c each to sophisticated investors, with purchasers to receive free attaching options for every share purchased.
Glencore and Japanese power utilities have settled annual thermal coal contract prices at $84.97/t, down from $94.75/t set in October, three sources said on Tuesday.
Glencore reached the settlement with Japan's Tohoku Electric after negotiations restarted when an initial round of talks failed to reach agreement, an industry source with knowledge of the matter said.
Construction on the A$1.76-billion Byerwen coal project, in Queensland, should begin soon, after Australia's QCoal and Japan’s JFE Steel Corporation on Monday announced they had approved the development.
Canadian Prime Minister Justin Trudeau told the leader of timber-rich British Columbia that he would consider her request to ban thermal coal shipments in retaliation for new US tariffs on softwood slumber.
Iranian President Hassan Rouhani faced anguished miners Sunday as he visited a coal mine where an explosion last week killed more than three dozen men. Rouhani, the moderate cleric seeking re-election May 19, “insisted” on traveling to northern Golestan province to review the disaster and speak with the families of those who died, the official Islamic Republic News Agency said.