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Africa
 
INFRASTRUCTURE

With $3bn plan, Moz aims to extract regional port, rail integration benefits

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Mozambican, Swazi and South African dignitaries at the official inauguration of the Maputo Corridor JOC The Mozambican port and rail authorities plan to invest around $3-billion in the coming few years to raise yearly throughput at the Maputo port to between 40-million and 50-million tons by 2020 and to migrate additional cargo from road to rail....
22nd September 2014
 
 
DIAMOND

Rockwell lifts Q2 diamond output 37%

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Diamond asset developer Rockwell Diamonds has lifted the volumes of gravel processed from its operations during the quarter ended August 31, by 57% to 1.4-million cubic metres, driving a 37% increase in overall carat production to 9 581 ct. Sales...
22nd September 2014
 
 
MATERIALS HANDLING

ELB attributes growing revenue to risk spread across industries

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Materials handling group ELB has attributed its solid full-year showing to its diversification across several industries and numerous commodities, which has resulted in the spread of risk rather than a reliance on the health of a single market....
22nd September 2014
 
 
PLATINUM

Pallinghurst platinum mine invests in low-electricity processing alternative

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Pallinghurst CE Arne Frandsen The platinum platform of diversified JSE-listed Pallinghurst has invested in a low-energy hydrometallurgical alternative to high-energy smelting. The environment-friendly Kell process, which Pallinghurst has been studying over a prolonged period,...
22nd September 2014
 
 
GOLD

Goldplat reports FY loss amid lower gold price

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Aim-listed gold producer Goldplat on Monday reported a £356 000 loss for the financial year ended June 30, compared with a £399 000 loss the year before, as the lower gold price cut revenues. Chairperson Brian Moritz pointed out that the...
22nd September 2014
 
 
PLATINUM

Lossmaking Bauba’s exploration drilling on hold, non-execs accept halved fee

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Bauba CEO Syd Caddy The exploration drilling activities of lossmaking JSE-listed platinum exploration company Bauba have been put on hold and nonexecutive directors are talking only half of their fees until the company has sufficient cash to pay them in full....
22nd September 2014
 
 
FUNDING

Bellzone shares suspended as final agreement on $4m loan not yet reached

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Aim-listed Bellzone Mining on Monday announced that its shares would be suspended from trading on the Aim with immediate effect, as the company had not yet been able to reach agreement with China Sonangol International on the final satisfaction of...
22nd September 2014
 
 
GEMSTONES

Gemfields triples FY revenue to $160m

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Posting a threefold jump in revenue from $48.4-million in 2013, to $160.1-million for the year ended June 30, gemstone producer Gemfields has enjoyed what CEO Ian Harebottle describes as a “stellar year”, during which the miner saw record...
22nd September 2014
 
 
BENEFICIATION

Coega IDZ advances metals beneficiation strategy

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Mogamad Sadick Davids The Coega Development Corporation (CDC) has announced ambitious plans for the expansion of metals beneficiation initiatives and metals sector investments in South Africa through its newly unveiled 2014-2024 metals cluster strategy, which it hopes...
22nd September 2014
 
 
IRON-ORE

London Mining declares dispute with Glencore over payment

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London Mining has entered into a dispute with multinational commodity miner Glencore over what the iron-ore group says is Glencore’s refusal to pay a cash prepayment amount stipulated in an offtake agreement between the two parties. The group...
22nd September 2014
 
 
GOLD

Village gets shareholder nod for Cons Murch sale, share consolidation

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Shareholders of gold producer Village Main Reef have voted in favour of Village’s proposed sale of its interest in the Consolidated Murchison (Cons Murch) antimony mine, in Limpopo, to Australian group Stibium Mining. This followed a May...
22nd September 2014
 
 
COAL

Coal of Africa sells idled Mooiplaats for $23.5m

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South Africa-focused coal miner Coal of Africa Limited (CoAL) has sold its Mooiplaats colliery to privately owned Blackspear Holdings Proprietary for $23.47-million. The Mooiplaats thermal coal project, in the Ermelo coalfield, in Mpumalanga, was...
22nd September 2014
 
 
 
 
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