Fitch Solutions maintains its forecast for an average coking coal price of $195/t for this year, stating that prices will remain elevated, with strong demand from China’s steel sector, as US–China relations continue to deteriorate and the probability rises of further economic support from the Chinese government towards domestic industries.
ASX-listed Ora Banda Mining, previously known as Eastern Goldfields, will raise A$30-million as part of efforts to recapitalize the company.
Eastern Goldfields went into administration in 2018 after a A$75-million recapitalization transaction fell through.
The National Union of Mineworkers (NUM) confirmed on Wednesday night that all mineworkers who staged a sit-in underground at the Chinese African Precious Metal Company (CAPM) in Orkney, in the North West since last weekend, have resurfaced from underground after their salary demands were met. At least 69 NUM members staged an underground sit-in at No.
Junior Consolidated Tin Mines has raised an additional A$4-million through a share placement to a new international investor.
The placement to Chinese investor Tiesong Duan was in addition to the placement to Wealth Pointer Global, which took place in April this year and raised A$20.99-million.
Queensland Premier Annastacia Palaszczuk has instructed the Coordinator-General to set a timetable for the resolution of two outstanding approvals for Indian major Adani’s proposed Carmichael coal mine, saying she was “sick” of the delays.
Serbia-focused Tethyan Resources has announced that it will redomicile the company from England and Wales to British Columbia, Canada, to avoid the UK stamp duty tax.
Toronto-headquartered Barrick Gold has presented a proposal to its London-listed subsidiary Acacia Mining to buy the rest of the shares in the miner that it does not already own for $285-million.
The share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia implies a value of $787-million for the Tanzania-focused miner.
Environmental Affairs Minster Nomvula Mokonyane has gazetted additional amendments to the Financial Provisioning Regulations for the rehabilitation and remediation of environmental damage caused by exploration and/or mining activity.
ASX-listed Nickel Mines has secured an $80-million funding package from Decent Investment International Private, an associate of the company’s operating partner Shanghai Decent Investment, to fund its increased stake in the Ranger nickel project, in Indonesia.
Sibanye Gold reiterated that its increased offer for Lonmin Plc is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge.