Diversified mining and marketing company Anglo American on Thursday announced its intention to return up to $1-billion to its shareholders through an immediate on-market share buyback programme to reduce the company’s issued share capital. The programme, which will be executed in two $500-million tranches, will end not later than March 31.
Diversified mining and marketing company Anglo American on Thursday announced board approval for the Aquila project to extend by six years the life of the Capcoal underground hard coking coal operations at the Grasstree mine in Queensland, Australia. The life-of-mine will be advanced 2028 at an expected attributable capital cost of $226-million.
ASX-listed Carnarvon Petroleum has completed a fully underwritten institutional placement, raising A$79-million to fund ongoing appraisal activities and the initial phases of the Dorado development, offshore Western Australia, including front-end engineering and design (FEED).
Coal producers should offer State-owned utility Eskom fairer pricing, while the Southern African Development Community (SADC) States should do more to support Eskom, delegates attending the Coal Industry Day, in Johannesburg, on Wednesday, were told.
Global diversified miner Anglo American has appointed nonexecutive director Nolitha Fakude as chairperson of Anglo American South Africa’s board, effective September 1.
She succeeds Norman Mbazima, who announced his retirement in April.
South African coal producers should focus on supplying local industries and State-owned power utility Eskom, given the changing and uncertain export environment, XMP Consulting senior coal analyst Xavier Prevost said on Wednesday.
JSE-listed Impala Platinum (Implats) will convert $249.8-million of its $250-million 3.25% convertible bonds due in 2022, to shares.
Implats earlier this month invited bondholders to exercise their conversion rights.
Gold developer Bellevue Gold has launched a fully underwritten institutional placement to raise A$18.5-million to fund ongoing exploration actives at its namesake project in Western Australia.
ASX-listed Kalium Lakes is hoping to raise A$72-million through an institutional placement and an accelerated non-renounceable entitlement offer to fund the construction of its Beyondie sulphate of potash (SOP) project, in Western Australia, as well as the working capital to first production.
Mining and transport firm Grupo Mexico said on Tuesday that it does not expect its operations to be impacted by the partial closing of its Guaymas facility on the Gulf of California.