The State-backed Russian Direct Investment Fund (RDIF) and China's Fosun International could announce an investment in Russia's top gold producer Polyus in early June, a source familiar with the talks told Reuters.
Angola's continued reliance on the oil sector will result in limited development of its mining sector between now and 2021. However, the country is expected to continue diversifying into minerals in the longer term, as a decline in domestic oil production speeds up government plans to invest in mining projects as an alternative source of funding.
JSE-listed Impala Platinum (Implats) on Friday concluded the final terms of its dual offering of R3.25-billion unsecured convertible bonds and $250-million unsecured convertible bonds, both due 2022. The platinum miner’s rand-denominated bonds will hold a 6.375% yearly interest rate, while the dollar-denominated bonds will carry a yearly interest rate of 3.25%.
Mozambique-focused coal miner and energy developer Ncondezi Energy will engage with new strategic partners who have expressed an interest in helping to develop its integrated thermal coal mine and 300 MW power plant in the country’s Tete province. This comes after the company on Friday suspended exclusive discussions with Shanghai Electric Power (SEP).
Multicommodity resource and development company Premier African Minerals is preparing to mark its first shipment of wolframite concentrate from the newly upgraded plant at its RHA tungsten mine, in Zimbabwe, to Durban, South Africa.
The Chamber of Mines of South Africa is rethinking its identity and name and has elected Mxolisi Mgojo its new president. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to discuss this news.
JSE-listed Miranda Mineral Holdings, together with its wholly-owned subsidiary Miranda Coal, will sell its 73% shareholding in Sesikhona Klipbrand colliery, in KwaZulu-Natal, to Osho SA Coal for R5-million, payable in two tranches.
India’s Adani Group could walk away from its $16.5-billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal Resources Minister Matthew Canavan.
ASX-listed Yancoal Australia has made a tag-along offer to acquire Mitsubishi Development’s 32.4% interest in the Hunter Valley operations for $710-million.
The tag-along offer fulfilled Yancoal’s obligation to Mitsubishi under the sale and purchase agreement for Yancoal’s $2.45-billion buy of Coal & Allied, announced in January this year.
State-run Coal India Ltd , saddled with millions of tonnes of unsold coal, is expected to be the biggest beneficiary of a controversial government decision to more than halve the sales tax on the fuel after a jump in local supplies.