Gold Fields long-serving CFO Paul Schmidt, who is also an executive director of the Johannesburg Stock Exchange-listed gold mining company, is to proceed on early retirement, the company stated in a stock exchange announcement on Tuesday. Although his stepdown is effective from April 30, Schmidt will, remain in Gold Fields’ employ until June 30.
Tietto asks investors to accept Zhaojin’s offer or sell shares
Australia’s Tietto Minerals has urged its shareholders to accept Zhaojin Mining’s offer that values the firm at A$733-million or sell shares on-market if the market price is not materially different to the offer price.
Shares of the Perth-headquartered gold miner slid 2.2% to A$0.66 after the announcement on Tuesday, heading for their biggest drop in more than a week.
South Africa views BHP bid for Anglo as ‘normal market activity’
South Africa views BHP Group’s proposed bid for Anglo American as “normal market activity” and is following the process as it unfolds, President Cyril Ramaphosa’s spokesperson said on Monday. BHP is considering making an improved offer for Anglo American after its $39 billion initial proposal was rejected by the London-listed miner, a source told Reuters last week.
Alphamin buoyed by Mpama South plant progress
TSX-V- and JSE-listed Alphamin Resources reports that tin concentrate production from the new Mpama South plant is imminent, with first ore having been successfully introduced on April 28. The final plant commissioning phase is now under way and should result in a ramp-up in tin concentrate production during May.
Rand Refinery donates R2m to seven Gauteng schools
As part of its commitment to education, precious metals refiner Rand Refinery has donated R2-million to seven primary and secondary schools in Gauteng. The company says this donation will be allocated towards refurbishments at, and procurement of modern educational tools by, the selected schools.
Vedanta seeks deals with traders to help fund Zambia copper mine
Vedanta Resources has approached trading houses as it seeks to raise capital to revive the Konkola copper mining and smelting complex in Zambia. Billionaire Anil Agarwal’s Vedanta has discussed tolling and prepayment facilities with commodity traders, including Mercuria Energy Group, for output from Konkola Copper Mines, according to people familiar with the matter. It’s also examining the sale of a minority stake in KCM as it explores ways to pay off creditors and invest in the mines that entered provisional liquidation in 2019, the people said, asking not to be identified because the talks are private.
BHP tells investors Anglo bid is ‘on strategy’, stresses discipline
BHP has told Australian investors privately that its $39-billion Anglo American bid is in line with its strategy and that it will be disciplined in its approach, two fund sources said.
The world’s biggest listed mining group is weighing up its next move after its initial takeover proposal for its smaller competitor was rejected by Anglo last week.
Thor reports lower revenue, profits for 2023
Gold mining and exploration company Thor Explorations has reported a $24-million year-on-year decrease in revenue from $165.2-million in 2022 to $141.2-million for the year ended December 31, 2023. Thor operates the Segilola gold mine, in Nigeria, and also holds several mineral exploration properties in Nigeria, Senegal and Burkina Faso.
Red Rock to undertake work programmes at Burkina Faso project
Aim-listed Red Rock Resources’ Bilbale gold project, in Burkina Faso, holds “significant potential”, consultant Dr Willem J Smuts has noted in a report. Smuts recently undertook a site visit to the project and carried out several days of evaluation work to identify potential high-grade targets, as well as assess the amenability of the area to support scalable operations and quick-start operations.
Endeavour achieves first gold pour at Senegal project expansion
Senior gold producer Endeavour Mining announces that first gold pour at the Sabodala-Massawa BIOX Expansion project, in Senegal, took place on April 18, marking the successful delivery of the BIOX Expansion project on schedule and on budget, with no lost-time injuries. Endeavour points out that the first gold pour at the Sabodala-Massawa BIOX Expansion was achieved only 24 months after construction started, transforming the Sabodala-Massawa Complex into a tier-one mine.