Tuesday, June 19, 2018

Eurasian Natural Resources Corporation's founders, and the Kazakh government, are planning a buyout of the company valuing it at $4.7bn.

DiamondCorp said its Lace Diamond Project would start production in the second half of the year owing to a six week strike, but was still ahead of schedule.

AngloGold Ashanti said its shift to mechanisation at its Ghana assets meant that its current cost structure was inappropriate.

Eskom would draw on power from BHP Billiton's aluminium smelters in South Africa and Mozambique as power demand exceeds supply for the first time since 2012.

The Export-Import Bank of the United States said it would support Transnet's R1.1bn purchase of 53 American-made GE locomotives.

The proposed merger has been held up by a liquidation order by JIC Mining against PhokaThaba, a subsidiary company of Platinum Australia.

South Africa's platinum production has not recovered to the levels before the five month strike last year.

John Wallington, the former CEO of Coal of Africa, has joined Miranda Minerals as its CEO, it has been confirmed.

Frank Timis, chairman of African Minerals, was subject of a probe following the payment of $50m to a former buyer of the firm's iron ore.

The proposed distribution of Glencore's 24.9% stake in Lonmin to its shareholders might also be a ruse to flush out potential bids for the investment.