Upward trend in gold production continues
DRDGOLD (DRDGOLD; JSE, NYSE: DRD) has announced an 8% increase in gold production to 37 005 oz for the quarter ended 30 September 2014. CEO Niël Pretorius notes: “The carbon adsorption inefficiencies...
View ArticleZimbabwe’s Mwana Africa on growth path
Mwana Africa’s Zimbabwean operations’ Freda Rebecca and Trojan Nickel mines reported 23% and 5% production growth respectively in the quarter ended 30 September due to an increase in running hours and...
View ArticleSundance Resources 2014 annual report
Sundance Resources Ltd is an Australian-based international iron ore company listed on the Australian Securities Exchange (ASX Code ‘SDL’) that is focussed on developing the Mbalam-Nabeba Iron Ore...
View ArticleAmara Mining receives price target cut
Amara Mining (LON:AMA) had its price target reduced by Canaccord Genuity from GBX 33 ($0.53) to GBX 28 ($0.45) in a research note issued to investors on Friday. The firm currently has a buy rating on...
View ArticleStellar Diamonds moves into production
Trial mining production at Stellar Diamonds’ (AIM: STEL) Baoulé Kimberlite pipe project in Guinea is proving to be less trial and more production if the latest results are anything to go by. Operations...
View ArticleSibanye Gold upgraded at HSBC
Sibanye Gold (ADR) HSBC upgraded shares of Sibanye Gold (NASDAQ:SBGL) from an underweight rating to a neutral rating in a research report sent to investors last week, TheFlyOnTheWall.com reports. HSBC...
View ArticleAfrican Potash drills final hole at Lac Dinga
African Potash’s (AIM: AFPO) second and final hole of its first drill campaign at the Lac Dinga Potash Project picked up where the first left off after successfully intersecting potash mineralisation....
View ArticleTrans Hex transforms output and sales in H1 2014
Trans Hex’s net profit for the first half of the year amounted to R35.8 million a vast improvement compared to the R53.9 million loss posted in the period last year. The diamond miner’s profit after...
View ArticleMineworkers’ owed lion share of R15bn unclaimed pension
About R15 billion in benefits is lying unclaimed in South African retirement funds overseen by the Financial Services Board (FSB) and at least a third of the money may belong to former mine workers,...
View ArticleRoxgold earns financing for Yaramoko project
Toronto-listed Roxgold announced the closing of previously announced bought deal financing of 46.2 million units of Roxgold at a purchase price of $0.65 per unit for aggregate gross proceeds in the...
View ArticleAML acquires Marampa to quell iron ore slump
African Minerals (AML) has announced plans to blend its iron ore with that of a newly acquired partner as iron ore producers continue to grapple with a sluggish iron ore market. This week the...
View ArticleHarmony records a 16% lift in Q3 revenue
Harmony Gold had a 16% increase in gold sold which saw the JSE and New York-listed miner’s revenue increase by 18% to $412 million in Q3 2014. The gold miners revenue surge was also impacted on by a 2%...
View ArticleGold decline taking toll on JSE index
Gold mining companies tugged down stocks on South Africa’s JSE as the price of the metal fell to a new four year low of $1 160 per ounce this week. This weighed on South African stocks that fell for a...
View ArticleMining Indaba attracts UK’s Tony Blair as a keynote speaker
Former UK Prime Minister Tony Blair is set to present a keynote address at the 2015 Investing in African Mining Indaba to take place in Cape Town, South Africa from 9 to 12 February. The annual Mining...
View ArticleEastplats agrees to $225mn Chinese buyout
Eastern Platinum (Eastplats) announced that it reached a $225 million asset buyout agreement with a Chinese firm amid a difficult and ‘pressured’ platinum sector at present. The South Africa-focused...
View ArticleCoal of Africa sells Mooiplaats to Blackspear
Coal of Africa (CoAL) announced that all regulatory approvals required by Haohua Energy International Resource have been granted for its equity raising programme. In addition, the company announced...
View ArticleSA mining firms continue to lose market cap
South Africa’s mining industry has seen a notable decline in financial performance in 2014 owing to weak international demand and local cost pressures, as well as labour unrest. The result of this is...
View ArticleCentral Rand Gold in $150mn sale agreement
Central Rand Gold has signed a non-binding memorandum of understanding (MOU) with Hiria Group, a unit of Marsa (Canada) Group Holdings. The MOU may result in the sale of all its assets, which includes...
View ArticleBassari gets $1mn in funding for Makabingui
Gold developer Bassari Resources, listed in Australia, announced $1 million in additional funding for its flagship Makabingui project in Senegal, West Africa. Bassari said the funding will be sourced...
View ArticleWescoal invests R4.6mn for access to higher grade coal
JSE-listed coal miner, Wescoal Mining, on Wednesday said it had acquired the Sarie Marais prospecting right area in Mpumalanga Province held by Catwalk Investments for R4.6 million ($417 128). The...
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