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.
Aim-listed Cadence Minerals has signed a binding memorandum of understanding (MoU) with ASX-listed Clancy Exploration to earn an initial 10% interest in the high-grade Leogang cobalt-nickel sulphide project, near Salzburg, in Austria, through the issue of 73.7-million shares.
In another step towards zero coal imports, India’s Coal Ministry has offered assured domestic coal supplies to companies outside of the power generation industry. Under the new framework, coal consuming companies in the steel, cement and fertiliser sectors, would receive coal supplies from Coal India Limited (CIL) to the extent of 50% of their import requirements.
Aim-listed Bushveld Minerals has completed the acquisition of 49.5% interest in Dawnmin Africa Investments through its Greenhills Resources subsidiary. The miner bought the stake from a consortium of Namibian shareholders through the issue of 41-million ordinary shares at 1p apiece.
Vanadium producer Bushveld Minerals’ subsidiary Bushveld Vametco has paid the outstanding $961 010 in fees and interest due to Barak under an $11-million bridge loan facility. BVL had entered into the bridge loan with Barak to help fund the acquisition of a 78.8% interest in Strategic Minerals Corporation. It had already repaid the loan.