ASX-listed Yancoal Australia has exercised a call option to purchase Mitsubishi Development’s 28.9% interest in the Warkworth coal joint venture (JV) for $230-million.
ASX-listed Terramin Australia is hoping to raise up to A$8-million through a share placement to sophisticated investors to advance its Tala Hamza zinc project, in Algeria, to a decision to mine.
The company said on Wednesday that the share placement would be conducted in two tranches, with some 47.6-million shares to be issued at 16.8c each.
Junior explorer Calidus Resources will raise up to A$10-million in a share placement to investors in Australia, Asia and North America.
The ASX-listed company on Wednesday announced that about 243.9-million shares would be issued at a price of 4.1c a share to new and existing institutional and sophisticated investors.
Junior iron-ore produced NSL Consolidated has welcomed a A$5-million strategic equity investment by Australian financial institution First Samuel.
The integration of Gemfields is beginning to realise cost benefits, Pallinghurst reported on Tuesday when it reiterated its transformation into a long-life operating mining company from being a former closed-end investment vehicle.
TSX-V-listed Tsodilo Resources and dual-listed gold royalty company Sandstorm Gold have entered into a $1.5-million royalty agreement on three projects.
Trade unions the National Union of Mineworkers (NUM) and Solidarity have secured a three-year wage agreement with iron-ore and manganese miner Assmang at its operations in the Northern Cape. Assmang, a joint venture between Assore and African Rainbow Minerals, operates the Khumani iron-ore mine, the Beeshoek iron-ore mine and the Black Rock manganese mines.
Copper miner Tiger Resources has secured an $18.2-million facility to support ongoing operations and to fund initiatives to improve the performance of its Kipoi copper project, in the Democratic Republic of Congo.
The new facility, which has a 13% a year interest rate, was agreed to with two of Tiger’s current senior lender group, and will run until the end of September 2018.
ASX-listed miner Universal Coal expects its output to increase from 3-million tonnes in 2017 to to 4.5-million tonnes in 2018, as its Kangala and New Clydesdale mines, in South Africa, reach steady-state production.
South Africa-focused Coal of Africa Limited (CoAL) has reported resources and reserves of 26.9-million-tons at its recently acquired Uitkomst Colliery.
The company also said on Tuesday that it would apply to have the project’s new order mining right extended from October 2023 to align with the colliery’s remaining 17-year mine life.