Media Room

Tiger secures senior finance facility repayment extension

ASX-listed Tiger Resources has secured an extension for the first repayments on its $162.5-million senior financing facility. Taurus Mining Finance Fund, Resource Capital Fund and the International Finance Corporation have agreed to extend the date for payment of the first scheduled repayment instalment of $1.625-million and the second scheduled repayment instalment of $812 500 until May 1.

Shareholders urge BHP to restructure, spin off US oil business

Minority shareholders have presented mining major BHP Billiton with a plan that could potentially unlock up to 51% of value to company’s shareholders.

Fund managers Elliot Associates and Elliot International, which along with affiliates hold a 4.1% interest in BHP, have sent a letter to BHP management suggesting a three-tiered approach to unlocking this value.

Anglo sells coal mines to Mike Teke’s Seriti

Diversified mining company Anglo American on Monday announced the sale of its Eskom-tied domestic thermal coal operations in South Africa to a wholly owned subsidiary of Seriti Resources Holdings, a company majority owned by historically disadvantaged South Africans and led by a management team with extensive experience of operating and developing large coal mines in South Africa.  The Eskom-ti

Vast, SSCG extend financing agreement as RBZ lags

Aim-listed Vast Resources on Friday said that it was still awaiting approval from the Reserve Bank of Zimbabwe (RBZ) for the assignment of 49.99% of its loan account with Canape. The company noted that the outstanding approval would hamper its financing arrangement with SSCG Africa Holdings, which would provide Vast with $8-million, principally to advance core activities in Romania.