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MERGERS & ACQUISITIONS

Sentula’s Benicon Coal disposal terminated

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The sale of Sentula Mining subsidiary Benicon Coal to Miranda Mineral Holdings has fallen through after certain conditions were not met in time. Sentula on Friday announced that it remained committed to shedding the asset and had entered into...
1st August 2014
 
 
RAIL

Bollore, Pan-African Minerals ink $895m Côte d'Ivoire, Burkina Faso rail link

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French conglomerate Bollore and Pan-African Minerals signed a memorandum of understanding on Thursday on a rail project worth $895-million, linking Abidjan in Côte d'Ivoire to the Burkina Faso manganese deposit at Tambao. The governments of Côte...
1st August 2014
 
 
COAL

SA coal productivity lags behind Australia Video Available

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Mining Weekly editor Martin Creamer Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about South Africa's lagging coal productivity compared with Australia's.
1st August 2014
 
 
CORPORATE ACTIVITY

Trading halts remain as Continental moves to raise A$35m

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As South Africa-focused thermal coal producer Continental Coal progressed a A$35.1-million rights issue and a recapitalisation plan, a proposed listing on the JSE has been postponed and trading halts on the Aim and ASX remained firmly in place....
1st August 2014
 
 
ALUMINIUM

Alcoa completes closure of Australia aluminuim smelter

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Alcoa Inc closed its unprofitable Point Henry aluminium smelter in Australia on Friday underscoring the dire market conditions facing producers amid a flood of new Chinese capacity. Alcoa announced in February it intended to progressively shut...
1st August 2014
 
 
IRON-ORE

Gindalbie reviews value of Karara stake

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Iron-ore miner Gindalbie Metals has called a halt to its share trading after revealing that it had commissioned an independent review into the value of its shareholding in the Karara asset, in Western Australia. The review was called in light of...
1st August 2014
 
 
URANIUM

Ranger suspension pushes ERA into A$127m half-year loss

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Embattled uranium miner Energy Resources of Australia (ERA) has reported a 138% decline in net profits for the half-year ended June, which was recorded at a loss of A$127.2-million. This was compared with a net loss of A$54-million during the...
1st August 2014
 
 
URANIUM

Queensland uranium mines to adhere to strict standards – Minister

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The Australian resources industry on Friday welcomed the Queensland state government’s call for applications for uranium mining in the state. Mines Minister Andrew Cripps on Friday released a framework to ensure Queensland’s future uranium...
1st August 2014
 
 
GOLD

St Barbara warns of major impairments

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Gold miner St Barbara has warned of impairment charges at its gold assets during the year ended June. The miner has warned shareholders that it was expecting a full asset write down of A$179-million at its Gold Ridge mine, on the Solomon Islands,...
1st August 2014
 
 
FINANCE

Kenmare amends Moma financing terms, Absa loan date extended

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London-listed Kenmare Resources has amended the terms of the project financing for its Moma mine, in Mozambique, and negotiated an extension of the repayment date of its $20-million loan from Absa, allowing it to conserve cash and have greater...
1st August 2014
 
 
 
 
 
 
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SA coal productivity lags behind Australia Video
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Mining project studies on the increase – DRA Video
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Kumba providing helping hand to up-and-coming... Video
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