Diversified miner Rio Tinto on Tuesday urged its shareholders to vote in favour of the sale of its wholly-owned subsidiary Coal & Allied Industries (C&A) to Yancoal Australia, as opposed to electing the counter proposal from Glencore.
ASX-listed Lithium Australia’s takeover offer period for fellow listed Lepidico has expired, after it failed to generate traction with the takeover target’s shareholders.
Lithium Australia in February launched a A$23.8-million off-market scrip bid for Lepidico, offering that company’s shareholders one of its own shares for every 13.25 Lepidico shares held.
Aim-listed Bushveld Minerals subsidiary Lemur Resources expects its proposed integrated coal-fired power project in south-western Madagascar to contribute some $30-million a year to the country's economy. Further, the proposed project is exepcted to inject some $300-million of foreign direct investment over three years.
Activist group Sustaining the Wild Coast (SWC) has welcomed a notice gazetted by Mineral Resources Minister Mosebenzi Zwane which blocks any mining or prospecting applications on the Xolobeni mine area, in Bizana, in the Eastern Cape, for the next 18 months, “or until the Minister is satisfied that the community conflict and unrest has been resolved”.
Lithium developer Pilbara Minerals has successfully raised A$80-million in a share placement to help fund the construction of its Pilgangoora lithium/tantalum project, in Western Australia.
Gold miner WPG Resources has announced a one-for-eight pro rata non-renounceable entitlement issue, in the hopes of raising A$5.4-million to help fund the expansion of the Challenger mill, in Western Australia.
The new shares will be priced at 4.8c each, and will include one free unlisted options for every two subscribed shares, exercisable at 8c each by June 2019.
Britain's Liberty House Group said on Monday it submitted a revised bid for troubled Australian steel group Arrium Ltd, after last week conceding defeat to a South Korean private equity syndicate.
"We remain passionate about the opportunity and intend to continue pursuing discussions," Liberty House said in an email to Reuters.
South Australian Treasurer Tom Koutsantonis has welcomed a decision by the administrators of Arrium Mining and Materials, after the company confirmed that a Korean consortium had been chosen as the preferred bidder for the group of companies.
The consortium is led by Newlake Alliance Management and JB Asset Management and is supported by Korean major Posco.
Embattled Kimberley Diamonds has reportedly entered voluntary administration only days after its Lerala diamond mine, in Botswana, was closed.
Kimberley delisted from the ASX in March this year, and the Lerala mine was reportedly closed on June 1, with the company citing weak market conditions.
Basil Read Mining (BRM) will provide contract mining solutions to Botswana coal and energy development company Shumba Energy’s coal projects. BRM specialises in contract openpit and opencast mining.