When South African listed companies raise money locally, they rarely include smaller shareholders. Now, collaboration between Johannesburg- and Sydney-listed Orion Minerals, headed by CEO Errol Smart, and Utshalo, headed by Paul Miller, is aimed at bringing Australia Stock Exchange- (ASX-) style shareholder participation to smaller South African shareholders through the Johannesburg Stock Exchange (JSE).
DigiMine head graduates with PhD in engineering from Wits
Dr Muhammad Ahsan Mahboob, head of the Digital Mining Laboratory (DigiMine) at Wits University, was awarded his PhD in engineering from the School of Mining Engineering, Wits University, in a celebratory ceremony held at the Wits Great Hall on July 8. Mahboob’s PhD thesis: “A Data Science Framework for Mineral Resource Exploration and Estimation Using Remote Sensing and Machine Learning”, merges data science, satellite imagery and machine learning with the aim to revolutionise mineral exploration.
Caledonia reports robust production at Blanket mine in June quarter
Gold miner Caledonia Mining Corporation has produced 20 773 oz of gold at its Blanket mine, in Zimbabwe, during the quarter ended June 30. This is a 19% increase on the 17 436 oz produced at the mine in the second quarter of 2023.
Transnet monitoring port operations as inclement weather continues
State-owned Transnet has said it continues to monitor operations at its Cape Town, Saldanha Bay, Port Elizabeth and Ngqura ports amid adverse weather conditions along the country’s coast. Strong winds reaching 35 to 50 knots and high sea swells exceeding 3.5 m led to shipping movements being suspended at some ports for safety reasons, it said late on Tuesday.
AECI to sell Animal Health business as it shifts focus to core competencies
Mining explosives and chemicals company AECI has signed an agreement for the sale of its Animal Health business, as a going concern, to Nutreco International, whose South African subsidiary is Trouw Nutrition South Africa. “This strategic move aligns with our recently announced strategy to streamline operations and focus on our core competencies, ensuring continuous growth and value creation for our stakeholders. Nutreco is recognised worldwide for its commitment to excellence and innovation, making it the right home for the Animal Health business and our people,” says AECI.
Looming wave of iron-ore supply threatens $100 price floor
Iron-ore prices are likely to stay in three digits for the rest of 2024, insulated to a large degree from China’s faltering economy by cost support that kicks in at around $100 a ton. But that could change from next year as a wave of cheap supply starts to build in West Africa, lowering the industry’s average costs and forcing prices to better reflect the long-term decline of China’s steel industry, the biggest consumer of iron-ore.
Barrick looking to expand Mali exploration amid regulatory developments
Mining major Barrick Gold is actively pursuing an expansion of its exploration activities in Mali to bolster the long-term sustainability of its Loulo-Gounkoto operation
CEO Mark Bristow has initiated discussions with Mali’s National Directorate of Geology and Mines to broaden its exploration footprint.
Atlantic reports Ewoyaa fatality
Aim- and ASX-listed Atlantic Lithium reports that a member of the workforce at its Ewoyaa lithium project, in Ghana, was fatally injured on Tuesday. Site activities have been suspended. The appropriate authorities have been notified and an investigation is under way to establish the circumstances that led to the incident, with senior executive leadership on site to support this process.
Diamcor closes final tranch of offering, bringing total to C$2m
Diamond producer Diamcor Mining has closed a second and final tranche of C$600 300 of its previously announced non-brokered private placement, bringing the total of the offering to about C$2-million. The company previously announced the close of a first tranche of the offering for gross proceeds totalling about C$1.4-million on June 4. Existing insiders, management and directors and larger shareholders subscribed for an aggregate of about $1.37-million of the offering.
Kumba appoints new independent nonexecutive director
Diversified mining major Anglo American’s Kumba Iron Ore subsidiary has announced the appointment of Neo Violet Mokhesi as an independent nonexecutive director with effect from July 1. She will also serve as a member of the audit committee, the social, ethics and transformation committee and the safety, health and sustainable development committee.