Sunday, April 22, 2018

Namakwa Diamonds, the London-listed vertically integrated diamond mining company, has announced it has secured debt financing of $15m from a private investor.

Kumba Iron Ore has taken formal legal action against the Department of Mineral Resources over the Sishen mineral rights dispute in addition to the lengthy internal appeal already under way.

Shareholders in platinum junior Wesizwe will decide in the next three months whether to go ahead with a R6.6bn capital injection that will see a Chinese consortium take control of the company.

Diamond mining junior Petra Diamonds, the AIM-listed diamond producer with operations in South Africa, has announced the completion of the sale of its Kono Diamond Project in Sierra Leone.

Kumba Iron Ore, which is 64% owned by Anglo American, says it is confident that the Transnet strike will have no long-term effect on the company's exports.

AIM-traded Bellzone strikes a deal with China International Fund to build a $2.7bn railway that opens up a giant iron ore deposit in Guinea and potentially brings forward the production date.

Wesizwe secures financing of R6.6bn to build a mine. The funding will come from a Chinese consortium, comprising Jinchuan Group and the China Africa Development Fund, and which will take a 51% stake in Wesizwe.

Lonmin is to step up toll-treatment arrangments after it extended the month-long shut down of its Number One furnace by up to 30 extra days after earlier repairs failed.

Kumba defends chairman Lazarus Zim after a report in a South African newspaper suggesting there may be a conflict of interest because of links to the head of the group that snatched rights in Sishen mine.

Impala Platium Holdings, the world's second largest platinum producer, has confirmed a work stoppage at the company's 12 Shaft operation in Rustenburg.