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FERROCHROME

R500m IFM loan facility extended

Ferrochrome producer International Ferro Metals (IFM) on Wednesday announced that a R500-million loan facility with the Bank of China had been extended by a year. The facility would have expired on September 25, but was extended to September 16,...
17th September 2014
 
Electra Mining

AC/DC Dynamics Video Available

Established in 1984, AC/DC Dynamics is the leading manufacturer, importer and distributor of quality products in the electrical, electronics, pumps and tools industries. Employing over 400 staff, AC/DC Dynamics has its Head Office in Edenvale,...
17th September 2014
 
URANIUM

PEA reveals positive return on investment for Arizona uranium project

US-based uranium miner and explorer Uranium Energy Corporation on Tuesday reported that a preliminary economic assessment (PEA) report on its Anderson project, in Arizona, had revealed a positive return on investment, with an internal rate of...
17th September 2014
 
DIAMONDS

Rough carat production well below 2005 level as demand soars – De Beers

De Beers CEO Philippe Mellier Global 2013 rough diamond carat production was still well below the 2005 peak of 175-million carats, at a time when global diamond jewellery demand had reached record highs, De Beers said on Wednesday. Releasing its inaugural Diamond Insight...
17th September 2014
 
GOLD

Osisko Gold Royalties secures C$100-million credit facility

Gold-focused royalty and stream company Osisko Gold Royalties has entered into an agreement with the National Bank of Canada for a C$100-million revolving credit facility to be used for investments in the minerals industry. This would include the...
17th September 2014
 
DIAMONDS

Kennady Diamonds to raise C$5m

TSX-V-listed Kennady Diamonds is arranging a nonbrokered private placement to raise about C$5-million to fund its expanded 2014 summer/fall exploration programme. The funds would be raised through the issuance of common shares at a price of C$6.50...
17th September 2014
 
GOLD

Former Barrick Gold CEO Sokalsky to head junior explorer

Jamie Sokalsky Former Barrick Gold CEO Jamie Sokalsky has been appointed director and chairperson designate of TSX-V-listed Probe Mines. He would join the board immediately, but would only take up the position of chairperson when current chairperson Patrick Reid...
17th September 2014
 
PLATINUM

Ramatlhodi welcomes completion of first RBPlat housing units

Mineral Resources Minister Ngoako Ramatlhodi Mineral Resources Minister Advocate Ngoako Ramatlhodi on Tuesday welcomed the completion of the first phase of Royal Bafokeng Platinum’s (RBPlat’s) home ownership project in Rustenburg. “We commend this initiative, as it means that the...
16th September 2014
 
FLOURSPAR

Tertiary Minerals' MB fluorspar project approved for Phase 3 drilling

Aim-listed Tertiary Minerals on Tuesday said the permitting for Phase 3 drilling at the MB fluorspar project, in Nevada, had been approved. The Phase-3 drilling programme was planned to increase the size of the inferred mineral resource by...
16th September 2014
 
COAL

Buffalo Coal halts operations at S African project

Operations at TSX- and JSE-listed Buffalo Coal’s Magdalena underground mine, in KwaZulu-Natal, South Africa, have been halted following the ingress of water in one of the sections at the mine earlier on Tuesday. The company reported that its...
16th September 2014
 
PRECIOUS METALS

Eskom passing its pressures on to gold producers – Pan African Video Available

Pan African CEO Ron Holding State electricity utility Eskom is passing its power-interruption pressures on to midtier gold producers like Pan African Resources, which lost 11 days to both planned and unplanned Eskom power outages in the 12 months to June 30. “Eskom is...
16th September 2014
 
COAL

Waterberg Coal, Eskom in discussions to convert MoU to coal supply agreement

Majuba power station Discussions between State-owned power utility Eskom and ASX- and JSE-listed Waterberg Coal Company (WCC) to resolve the outstanding requirements to convert the Waterberg coal project’s (WCP’s) offtake memorandum of understanding (MoU) into a...
16th September 2014
 
 
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