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Goldplat to close Kenya mine plant
Published: 21 May 18
Aim-listed Goldplat will close Plant 1 at its Kilimapesa gold mine, in Kenya, following the successful installation and subsequent second-stage expansion of a new processing plant. The new plant, which is processing at a rate of around 5 000 t/m, is now established enough that Goldplat can continue running the plant as its sole processing facility.
Glencore goes from crisis to crisis with possible bribery probe
Published: 21 May 18
It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo. The world’s biggest commodity trader is facing the possibility of a bribery investigation by British prosecutors over its work with Dan Gertler, an Israeli billionaire and close friend of Congo President Joseph Kabila.
US top court takes up challenge to Virginia uranium mining ban
Published: 21 May 18
The US Supreme Court on Monday agreed to decide whether states have the right to ban uranium mining for public health reasons in a dispute over a moratorium Virginia put in place on the radioactive metal in 1982. The court will hear a bid by a Virginia Energy Resources Inc subsidiary and other owners of the largest US uranium deposit to revive a lawsuit thrown out by a lower court that sought to invalidate Virginia's ban because it conflicted with a federal law that regulates nuclear power generation.
Kropz clinches offtake from phosphates project Kropz clinches offtake from phosphates project
Published: 21 May 18
Plant nutrient minerals development company Kropz, which is developing the Elandfontein phosphates mining and processing project in the Western Cape, has secured several offtake agreements ahead of production. The cornerstone offtake agreement, for about a third of its production at market prices that will be negotiated yearly, is with Foskor, South Africa’s is only vertically integrated producer of phosphate ore, phosphoric acid and granular fertiliser, in which the State-owned Industrial Development Corporation is the controlling shareholding.
Polyus says Natalka operating at 80% capacity Polyus says Natalka operating at 80% capacity
Published: 21 May 18
The new greenfields Natalka mill in the Tenkinskiy district of Russia’s Magadan region is operating at 80% of its design throughput capacity of ten-million tons a year, LSE-listed Polyus reported on Monday. Natalka, which has produced more than 40 000 oz of gold since the beginning of the year, will be producing 450 000 oz/y of gold following the ramp-up.
Aton says will not support M&R’s proposed transaction with Aveng
Published: 21 May 18
German-owned Aton believes Murray & Roberts (M&R) is putting its interests ahead of that of shareholders and other stakeholders with its proposed combination with Aveng. The sole intent of M&R’s announcement on Friday that it plans to merge with Aveng, Aton states, is to frustrate Aton’s proposition to M&R shareholders and reflects an “underdeveloped and rushed outline of a potential transaction with a speculative rationale”.
Kibo awards second lot of Mbeya EPC contract
Published: 21 May 18
Aim-listed Kibo Mining has awarded Sepco III the second lot of the engineering, procurement and construction (EPC) contract for its Mbeya coal-to-power project (MCPP), in Tanzania. Lot 2 of the EPC contract involves the construction of the power line that will evacuate power from the Mbeya power plant, in the Songwe district, to Tanzania Electricity Supply Company’s (Tanesco’s) Mbeya substation.
India allows power producers to switch coal linkages
Published: 21 May 18
The Indian government has announced that private thermal power companies will be allowed to switch coal supply linkages from one coal company to another, but electricity producers are not sure that the move will deliver industry-wide benefits. Based on recommendations of an interMinisterial committee, the Coal Ministry last week said in a statement that, “coal linkage rationalisation shall be an exercise in which a thermal power plant operated by a private company may be transferred from one coal company to another, based on availability during the fiscal and production plan of the coal company”.
Antipa raises exploration funds
Published: 21 May 18
ASX-listed junior Antipa Minerals will raise up to A$7.5-million through a share placement and entitlement offer to fund exploration at its Paterson projects, in Western Australia. The company will place some 270-million shares to new and existing shareholders in two tranches, to raise an initial A$3.3-million, with the placement priced at 1.2c a share.
Bowen divests of Comet Ridge
Published: 21 May 18
Queensland-based Bowen Coking Coal has entered into a binding agreement to divest of its Comet Ridge project for A$100 000 in cash and a 1.25% royalty stream from the first 2.8-million tonnes of coal produced. The ASX-listed junior told shareholders that the deal with Springsure Creek Coal included an option under which Springsure could cancel the royalty in exchange for a A$3-million cash payment.
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