Rainbow targets US listing as SA project shifts to 2029
RAINBOW Rare Earths confirmed on Monday that first production from its Phalaborwa rare earths project in Limpopo in South Africa is expected in early 2029, while a proposed US…
Gold Fields will have to offer more to bag Northern Star
A SUREFIRE means of merger & acquisition (M&A) success is to pay cash — and barrel-loads of it. Easier said than done. Mining shareholders, including those of Gold Fields, want…
Petra subsidiary faces winding-up over £5.7m tax bill
PETRA Diamonds is facing a winding-up petition from UK tax authorities against one of its subsidiaries over an unpaid corporation tax bill of about £5.65m. His Majesty’s Revenue…
Petra Diamonds may put mines up for sale as walls close in
PETRA Diamonds has launched a strategic review that could result in asset sales following “consultation with certain key stakeholders including its first and second lien…
Kodal clears Bougouni debt after first six months of production
KODAL Minerals’ Bougouni lithium project generated enough cash in its first full six months of commercial production to clear its project debt, helped by a sharp recovery in…
Gemfields’ Montepuez ruby mine unable to pay group fees
GEMFIELDS’ Montepuez Ruby Mine (MRM) in Mozambique is currently unable to pay management and auction fees to the group, as weak ruby grades continue to weigh on the operation…
Zambia accuses Emirati partner of Mopani breaches
ZAMBIA’S state-owned ZCCM Investments Holdings (ZCCM-IH) has accused Abu Dhabi’s International Resources Holding (IRH) of “pervasive and sustained” breaches of agreements under…
Zambia’s ZCCM-IH accuses Abu Dhabi IRH of Mopani breaches
ZAMBIA’S state investment firm has accused Abu Dhabi-backed International Resources Holding of breaching agreements linked to its control of Mopani Copper Mines, Bloomberg…
Pan African poised for rerate as growth options abound
A R500m share buyback could be money well spent for Pan African Resources, the JSE-listed gold miner. Most analysts think the company is on the cusp of a rerate following its…
Gemfields takes $125m hit at Montepuez ruby mine
GEMFIELDS expects to report a $73.5m loss for the six months to June after taking a $125.2m impairment against its Montepuez ruby mine in Mozambique, where it recovered fewer…
Harmony Gold prices $500m bond as growth capex ramps up
HARMONY Gold today announced terms of a $500m convertible bond amid a major increase in capital expenditure during its 2027 financial year. The gold miner has targeted…
Transnet is moving but a cash crisis looms
FOR most of the past decade Transnet has had an obvious problem: it wasn’t moving enough freight. Its latest results show good progress on that front, and suggest that the…
US steps back into Niger with $414m uranium deal
THE US government has approved up to $414m in financing for a uranium project in Niger, Reuters reported. The move comes two years after Niger expelled US forces from the…
Fresh capital, old problems for Zimbabwe mining
ARE investors still too wary of Zimbabwe’s mining sector? Two international miners – Caledonia Mining and Tharisa – think so, and both are committing significant capital to…
Caledonia closes in on funding for $600m Bilboes project
CALEDONIA Mining said it was close to securing further funding for its Bilboes gold project in Zimbabwe, with a $150m interim bank facility due to close as early as October. The…
Pan African plans R500m buy-back after declaring record dividend
PAN African Resources announced plans to buy back up to R500m of its own shares after a surge in cash flow helped it declare a record final dividend for its 2026 financial year.…
Omnia to recommend R21.5bn buyout from India’s Solar
OMNIA Holdings said on Monday it had received a buyout offer from Indian company Solar Industries worth R21.5bn. The offer, which values the South African mining explosives and…
Tharisa seals $300m Karo Platinum funding
THARISA has secured the $300m bond needed to complete its Karo Platinum project in Zimbabwe, removing uncertainty over how it would fund the remaining cost of the $545m mine. The…
Aussies advance Namibia uranium projects
TWO Australian mining companies, Bannerman Energy and Deep Yellow, are pushing ahead with major uranium projects in Namibia, joining Chinese firms already active there as…
Transnet targets leap in coal exports despite cash squeeze
TRANSNET has targeted 65 million tons (Mt) in delivered coal exports after another year of rail volume growth, but debt and weak cash generation have put a brake on its ambition.…