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Black Mountain divests of silver assets to focus on vermiculite

ASX-listed junior Black Mountain Resources has divested of its non-core US silver assets, in a bid to focus its attention on its Namakara vermiculite mine, in Uganda.

The company on Monday told shareholders that it had divested of its 70% stake in two prospective US silver mines in Montana and Idaho, in a deal struck with Texas Energy Advisors, worth A$70 000.

African copper, nickel mines on Coal India radar as miner diversifies

Having decided to evolve into a diversified resource major from a pure play coal miner, Coal India Limited (CIL) has identified copper and nickel mines in Africa for its maiden overseas foray into noncoal minerals. KPMG has been appointed to prepare the roadmap that will see CIL emerge as a diversified mining company by 2030, following a Rio Tinto, Vale or BHP-type model.

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