Indian major Adani has pulled the trigger on the $16.5-billion Carmichael coal and rail project, in Queensland, announcing a positive final investment decision (FID) just days after striking a tax deal with the state government.
Bushveld Vametco (BVL), a subsidiary of Bushveld Minerals, has reached an agreement with financing corporation Barak Fund to restructure an $11-million bridge loan agreement – repayable within two months of drawdown – related to the acquisition of a 78.8% shareholding interest in Strategic Minerals Corporation (SMC) from Evraz Group.
Rare-earth element mining company Rainbow Minerals on Monday said its mining and plant construction timetable at the Gakara deposit, in Burundi, remains on track to deliver first rare earth concentrate for sale in the fourth quarter.
Oakbay Resources and Energy, which is owned by the controversial Gupta family, on Monday lost its JSE sponsor, River Group, after being given notice of the termination of their appointment as sponsor. River Group is a JSE sponsor, designated adviser and international corporate finance boutique with a 19-year track record.
Pallinghurst mining company Jupiter Mines on Monday announced that it would make a further $25-million distribution to its shareholders in September. The Johannesburg Stock Exchange-listed Pallinghurst, which is an 18.43% shareholder in Jupiter, expects to receive a further distribution of $25-million in September 2017.
The Australian coal industry has expressed “serious concern” about reports that the Finkel review of the national electricity market has turned its back on coal-fired electricity, in favour of renewable energy.
Minerals Council of Australia CEO Brendan Pearson said on Monday that the country could not afford to put all its “eggs in the solar, wind and gas basket”.
JSE- and NYSE-listed Sibanye Gold on Monday announced that it would provide $200-million in financial assistance to indirectly wholly owned subsidiary Thor US Holdco. The gold miner’s $200-million advance will enable US platinum producer Stillwater Mining Company (SWC), which is a wholly owned subsidiary of US Holdco, to settle certain convertible notes.
Following a comprehensive technical and commercial review of its portfolio, Aim- and AltX-listed Kibo Mining has relinquished several early-stage noncore gold prospecting licences, licence offers and licence applications in the Lake Victoria goldfields, in northern Tanzania.
ASX-listed coal miner Wollongong Coal is in discussions with the administrators of mining services provider Delta SBD to reinstate workers to allow for the restart of the Wongawilli colliery, in New South Wales.
ASX-listed Acacia Coal has lodged an application to have the key project licences of the Riversdale anthracite colliery (RAC) project, in KwaZulu-Natal, transferred to it from project vendor Rio Tinto.