Project Halo, a South African group that bid R3.05-billion for Tegeta Exploration & Resources' coal assets after it was placed under administration, said it expects the deal to go ahead and it’s unaware other offers will be entertained.
Diversified miner Glencore on Friday reported an 11% year-on-year increase in its copper production and a 54% year-on-year increase in its cobalt output, mainly as a result of the restart of Democratic Republic of Congo- (DRC-) based subsidiary Katanga Mining’s processing operations in late 2017.
Mitsui & Co on Friday cut full-year profit forecast by 2% due to the absence of a dividend from Vale, but the Japanese trading house does not plan to change its holding in the Brazilian miner, a company executive said.
Chile's Codelco's, the world's top copper miner, said on Thursday it had reached an agreement on the contract for two unions at its sprawling Chuquicamata copper mine in the north of the country.
The agreement, which covers 611 workers, includes a salary increase of 1.2% and signing bonuses for a total of 11.5-million pesos (about $16 500).
Shares of India’s Vedanta slumped to a two-and-a-half-year low on Friday after analysts expressed concerns over an investment by the parent company of the conglomerate in African miner Anglo American.
Aurora Funds Management has again downgraded the valuation of its shareholding in ASX-listed Molopo Energy, following that company’s quarterly results for December.
Botswana’s Minister of Transport and Communications, Dorcas Makgato, has revived the need for a new heavy haul railway linking Botswana’s Mmamabula area with South Africa’s Lephalale coalfields. Makgato said the project aimed to link coal deposits in both areas with South African heavy haul lines.
Rare earths developer Northern Minerals will raise A$3-million through a private share placement to investor Liu Xiaohua.
The company would place 50-million ordinary shares, at a price of 6c each, under its existing placement capacity, meaning that shareholder approval would not be required.
Empowered coal mining giant Exxaro Resources is confident about its prospects in the coal sector, despite tough conditions and rising cost pressures in South Africa. Exxaro executive head of coal Nombasa Tsengwa on Thursday said the company produced 47-million tons of coal and was geared to grow this to 60-millions tons by 2023.
ASX-listed junior Sovereign Metals is hoping to raise A$4.3-million through a share placement to advance the development of its Malingunde flake graphite project, in Malawi.