London-listed Bushveld Minerals , which has vanadium mines in South Africa, said on Tuesday it planned a to list on the Johannesburg Stock Exchange by the third quarter of this year.
Financial services company Investec has acquired a further interest in the ordinary shares of Sibanye-Stillwater, taking its overall shareholding to about 5.19% of the company’s issued shares.
It previously held 4.91% of Sibanye’s shares.
Gold miner Ramelius Resources has gained a 90% foothold in takeover target Explaurum, with the offer to close on February 22. Ramelius in December increased its offer for Explaurum by 2c a share in cash, and was offering Explaurum shareholders one of its own shares for every four Explaurum shares held, as well as 2c a share in cash for every Explaurum share held.
The Pretoria High Court will, on Wednesday, hear an application brought by environmental organisations, groundWork and Earthlife Africa, for the handover of various documents relating to the judicial review of the environmental authorisations granted to two coal-fired power station preferred bidders.
Despite a move to renewable energy, particularly in Europe, demand for coal globally soared in 2018, led by low calorific value (CV) coal demand. The strongest import markets were China and India, while Indonesia performed extremely strongly on the supply side. China’s demand for coal strengthened in the first half of 2018, and eased towards the end of the year.
Coal production, exports and investment in the industry have remained stagnant since 2008, despite higher export prices and South Africa’s abundant coal reserves, says the Minerals Council South Africa. “Even as the coal export price soared, export volumes failed to respond,” Minerals Council senior economist Bongani Motsa said during a coal conference, in Cape Town, last week.
ASX-listed Greater Southern Mining will raise up to A$5-million through a share placement to fund exploration work at its Laverton and North Queensland operations.
The company told shareholders that the issue price and the corresponding number of shares to be issued would still be determined, with the raising to be subject to shareholder approval at a shareholder meeting on March 7.
Indian miner Vedanta said on Monday that its foreign unit Cairn India Holdings Limited's investment in Anglo American met all governance requirements. Vedanta's statement comes days after its shares plunged on Friday, as investors were skeptical of the merits of the investment and questioned the potential returns.
Coal exports are expected to drop this year, following a disappointingly slow run over the past few months, says Transnet Freight Rail coal GM Mandisa Mondi. “For the current financial year, the target for export was 77-million tonnes. We are trending at 73-million tonnes.
Despite promises to revive the US coal mining industry, analysts are saying that the country’s policy actions are not enough to reverse the trend of declining coal demand from the power generation industry.