The head of Ukraine's largest private power and coal producer, DTEK, said the company may have to halt production at one of its power plants or suspend import contracts if the government does not raise tariffs to account for expensive anthracite imports.
Dual-listed Kibo Mining says it is near concluding a power purchase agreement (PPA), as well as securing project financing for its Mbeya coal-to-power project (MCPP) in Tanzania.
With a secondary listing on the JSE now firmly under its belt, Australian base metals firm Orion Minerals is looking to reignite the development of a South African mining asset it believes was abandoned well before its prime – the Prieska zinc/copper project, in the Northern Cape.
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.
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.
Aim-listed Edenville Energy is pleased with the progress being made with the development of its Rukwa project, in Tanzania. “The first half of 2017 was an extremely busy and transformational period for the company. Having raised funds in February to start production, we have been able to rapidly put in place the required infrastructure and are seeing strong demand for our coal.
Diversified miner South32 will acquire an additional 15-million shares in TSX-listed Arizona Mining, taking its share in the Canadian company to 19.9%.
South32 in May this year acquired an initial 45-million shares, or a 15% interest in Arizona Mining for an investment of C$110.3-million.
ASX-listed junior Vital Metals has raised A$2-million through a share placement to progress its Watershed tungsten project, in Queensland.
The company will issue 263.9-million new shares, at 75c each, to professional and sophisticated investors, under its current placement capacity.
Junior metals explorer Ardea Resources has raised A$5.5-million in a share placement to sophisticated and professional investors, to accelerate drill programmes at its KNP cobalt project, in Western Australia.
Some 7.6-million new fully paid ordinary shares would be issued under the company’s existing capacity, with the shares placed at a price of 72.5c each.
Nev Power’s successor as Fortescue Metals Group Ltd.’s top executive will be charged with leading the world’s fourth-largest iron ore exporter’s drive into new businesses.