Simmers cuts it fine on loan repayment
Simmer and Jack still needs to sell another R70m worth of bonds to meet the R100m repayment due to Rand Merchant Bank at the end of the month.
IFM: no fall in ferrochrome Q4 contracts price
An end to de-stocking coupled with rising demand will ensure ferrochrome contract prices do not fall below current levels for the fourth quarter, International Ferro Metals says.
Bullish outlook for coking coal
MF Global reckons the coking coal market has better fundamentals than the iron ore market and Mozambique stands to benefit significantly but only when the required infrastructure is provided.
Iron ore prices to stay high
Iron ore prices will stay high for another two to three years according to institution MF Global which says China is investing in new iron ore projects in order to boost supply and lower prices.
Zim wants mining conducted by state
Zimbabwe would like to have all alluvial diamond mining conducted by the state, says Finance Minister Tendai Biti.
De Beers’ $295m pact set aside
A legal technicality could see De Beers angling for new solutions to antitrust claims in the US after it was found on appeal this week that not all plantiffs could benefit from its $295m settlement trust.
Resgen goes for it in the Waterberg
Australian junior Resource Generation has big plans for its proposed coal mine in the Waterberg but success will depend on solving critical railway and port infrastructure bottlenecks.
Aurora may receive R50m lifeline
Some R50m in emergency funds could be funelled to Aurora Empowerment Systems by a Swiss-based fund, provided the reverse takeover by Labat is complete.
Absa plans gold ETF expansion
Botswana is to get its first gold backed exchange traded fund with more planned for the rest of Africa, according to Absa which developed the R14.7bn NewGold ETF.
Palabora production takes a dip
Copper mining company Palabora Mining, which operates South Africa's largest copper mine, has reported a 24% fall in first half copper concentrate production.