Thousands of jobs will be lost at Lonmin over a three-year period following its merger with Sibanye-Stillwater, the Association of Mineworkers and Construction Union has argued. The union has lodged an appeal before the Competition Appeal Court to set aside a 2018 decision by the Competition Tribunal approving the merger.
Indian coal miner Singareni Collieries Company Limited (SCCL) has set a coal extraction target of 70-million tons for the 2019/20 financial year. The target is 8% higher than coal produced during 2018/19 at 64.4-million tons, says SCCL chairperson N Sridhar.
South Africa focused coal miner Universal Coal has received a conditional, non-binding indicative counter offer from JSE-listed Afrimat to rival a previous offer from a consortium headed by Ata Resources.
Aim-listed mining company Vast Resources has concluded a conditional sale contract for the proposed disposal, to Southern African Trade Finance (SATF), of its noncore 50.01% interest in Ronquil Enterprises - the holder of its Zimbabwe gold assets; and the remaining 25.01% economic interest in the Pickstone Peerless gold mine and associated assets, principally the Eureka gold mine.
ASX-listed Lynas on Monday said that it would seek clarification from the Malaysian government over comments made by Prime Minister Mahathir Bin Mohamad over the company’s continuation of operations.
Mohamad over the weekend noted that the Malaysian government had imposed an ‘extra condition’ on Lynas to remove waste, noting that the ‘waste’ could not go to Australia.
Takeover target Riversdale Resources is actively seeking alternate offers after an independent expert concluded that an offer from Australian iron-ore producer Hancock Prospecting is neither fair nor reasonable.
Norway plans to tighten restrictions on coal investments for its $1-trillion sovereign wealth fund while opening it up for renewable-energy infrastructure assets.
Junior gold company Maximus Resources has urged shareholders to vote against a motion by shareholder Kesli Chemicals to remove three of the company’s directors.
Kesli, which owns more than a 5% interest in Maximus, in March issued the gold miner with a notice demanding a general meeting to consider replacing three of the company’s directors with its own nominees.
Aim-listed Bushveld Minerals has appointed Bertina Symonds GM of Bushveld Vametco and Hiten Ooka group finance head.
Symonds’ appointment combines the roles of CEO and COO into GM for the company’s Bushveld Vametco business, which owns the company’s vanadium mine in South Africa’s North West province.
ASX-listed First Graphene will place some 23.3-million shares, at a price of 15c each, to raise A$3.5-million.
The company told shareholders that the placement to institutional and sophisticated investors would be conducted under its existing placement capacity, and will not require shareholder approval.