R/€ = 15.48 Change: 0.09
R/$ = 13.16 Change: 0.13
Au 1284.50 $/oz Change: -1.61
Pt 977.00 $/oz Change: -2.00


Vedanta markets dollar bonds for debt refinancing

By: Reuters     3rd August 2017 Vedanta Resources, the UK-listed Indian mining and energy group, is marketing a new issue of US dollar bonds to refinance outstanding debt. Vedanta is offering seven-year bonds, callable after four years, to yield around 6.375%, according to a term sheet. 

Ukraine’s Ferrexpo raising $350m pre-export loan

By: Reuters     24th July 2017 Ukrainian iron-ore producer Ferrexpo is raising a four-year pre-export syndicated loan of up to $350-million, banking sources said on Monday. The deal is the first time the company has tapped the syndicated loan market since discharging financial restructuring advisers in April 2016. 

Sibanye gets positive boost from ratings agencies

By: Megan van Wyngaardt     7th June 2017 JSE-listed platinum and gold miner Sibanye on Wednesday received a Ba2 rating from Moody’s Investors Service with a stable outlook and a B+ rating with a positive outlook from Standard & Poor’s (S&P’s) Global Ratings. In assigning the Ba2 corporate family rating to Sibanye, Moody’s noted that it... 

Stillwater deal advances as Sibanye grasps $2.6bn bridge finance nettle

By: Martin Creamer     13th February 2017 Precious metals mining company Sibanye on Monday announced that it had successfully closed the syndication of the bridge facilities to support its acquisition of Stillwater Mining Company of the US. Sibanye said in a Johannesburg Stock Exchange news service announcement that the syndication... 

Wealth of top three South African billionaires equal to that of bottom half of country's population

By: News24Wire      16th January 2017 The wealth of the top three South African billionaires is equal to that of the bottom half of the country's population, Oxfam South Africa (SA) said in a report released on Monday. The report, entitled ‘An economy for the 99%’, coincides with the upcoming forty-seventh World Economic Forum (WEF)... 

Glencore agri sale surprises on upside

By: Martin Creamer     6th April 2016 The announcement by Glencore that it is selling 40% of its agricultural business to Canada Pension Plan Investment Board for $2.5-billion cash has received the nod from analysts. Glencore said the proceeds from the transaction would be used to reduce net debt. 

Talisman MD steps aside

By: Esmarie Swanepoel     1st April 2016 Gary Lethridge has resigned as MD of ASX-listed Talisman Mining, as he hoped to spend more time with his family. “With Talisman now well-funded to meet its Springfield commitments, the maiden Monty resource imminent and exploration activities continuing to gather momentum at Doolgunna, Talisman... 

Glencore shares leap as liquidity lifts, operations hum, debt falls

By: Martin Creamer     4th November 2015 Diversified mining and marketing major Glencore, which has been working hard to reduce debt in response to investor concerns, on Wednesday won market plaudits on its rising liquidity level, debt-cutting streaming transactions and operations that one analyst described as “humming”. As a... 

CSR increasingly at heart of extractive sector’s business with banks

By: Simon Rees     20th October 2015 Extractive and exploration companies needed greater awareness of the banking sector’s view on corporate social responsibility (CSR) and how this informed its willingness to lend, Canadian law firm Goodmans partner Kate Lyons told an audience at a recent Canada-Southern Africa Chamber of Business... 

Rick Menell appointed Gold Fields deputy chair

By: Creamer Media Reporter      19th August 2015 Gold Fields has appointed Rick Menell as deputy chairperson. He had more than 36 years’ experience in the mining industry, including as president of the Chamber of Mines of South Africa, president and CEO of Teal Exploration & Mining and executive chairperson of Anglovaal Mining and Avgold. 

Sundance Energy to buy NSE’s US and Australia assets

By: Ilan Solomons     29th June 2015 ASX-listed energy explorer Sundance Energy announced on Monday that it had entered into an agreement to buy A$24-million worth of assets from oil and gas explorer New Standard Energy (NSE) in the US and South Australia. The agreement was subject to approval by NSE’s shareholders and other... 

StratMin appoints CEO

By: Creamer Media Reporter      26th May 2015 Graphite miner StratMin has appointed Brett Boynton as CEO and executive director with immediate effect. StratMin MD Manoli Yannaghas would step down from the board of directors with immediate effect. 

Intu secures £600m revolving credit facility

By: Natasha Odendaal     31st October 2014 JSE-listed Intu Properties has replaced an existing £375-million facility, set to expire in November 2018, with a new corporate £600-million revolving credit facility (RCF). In an update to shareholders on Friday, the company explained that the new facility had a minimum five-year term to October... 

Enbridge finalises $7.5bn mainline replacement cost estimate

By: Henry Lazenby     19th June 2014 Oil and gas infrastructure giant Enbridge this week announced that it had finalised the $7.5-billion cost estimate for its largest capital project ever, the Line 3 Replacement (L3R) programme. The L3R project entails replacing all segments of Line 3 between Hardisty, Alberta, and Superior,... 

Loan re-pricing saves Fortescue $50m a year in interest

By: Mariaan Webb     11th November 2013 The successful re-pricing of Fortescue Metals’ $4.95-billion term loan is saving the iron-ore miner $50-million a year in interest payments. Lead arrangers Credit Suisse and JP Morgan have amended and re-priced the facility, which reduced the previous margin of 4.25% to 3.25% and extended the... 

Windarra proves promising for Poseidon

By: Esmarie Swanepoel     30th April 2013 A definitive feasibility study (DFS) into ASX-listed Poseidon Nickel’s Windarra project, in Western Australia, has indicated that the project could deliver some 9 600 t/y of nickel in concentrate. Capital cost for the project had been estimated at around A$197-million, which Poseidon said... 

Sumatra on track to start production by 2014

By: Esmarie Swanepoel     26th April 2013 Metals developer Sumatra Copper & Gold has been awarded the final forestry permit for its Tembang gold/silver project, in Indonesia, clearing the way for construction to start. The company said on Friday that the award of the final forestry permit marked the completion of a rapid and highly... 

Expanded DFS confirms NSW zirconia project viability

By: Esmarie Swanepoel     11th April 2013 An expanded definitive feasibility study (DFS) on multicommodity explorer Alkane Resources’ Dubbo zirconia project, in New South Wales, has confirmed the viability of the operation. An initial DFS, completed in 2011, found that a capital investment of some A$470-million could support a 400 000... 

Talison Lithium gets Australian Fed nod for C$848m takeover by Tianqi

By: Henry Lazenby     12th March 2013 Australian hard-rock lithium miner Talison Lithium on Tuesday said it has received Australian federal approval to proceed with a C$848-million takeover deal by Chinese firm Chengdu Tianqi Industry Group. The company said the Federal Court of Australia, in Perth, had approved the Tianqi scheme... 

QMX seeks JV partner at flagship Manitoba project

By: Henry Lazenby     7th March 2013 Toronto-listed junior QMX Gold is on the prowl for a private equity partner, president and CEO Francois Perron told Mining Weekly Online during the Prospectors and Developers Association of Canada’s show. The company operates the Lac Herbin mine, in Val-d’Or, Quebec, and owns gold properties in... 

Sumatra secures $63m in funding for Tembang

By: Esmarie Swanepoel     25th February 2013 ASX-listed Sumatra Copper & Gold has secured a A$63-million debt and equity funding from cornerstone investor Provident Capital Partners to develop the Tembang gold-silver project, in Indonesia. The funding package would comprise three components, including a fully underwritten placement of... 

Sumatra clears funding hurdle

By: Esmarie Swanepoel     21st February 2013 ASX-listed Sumatra Copper & Gold has received credit approval for $35-million in financing to fund the development of its Tembang gold project, in Indonesia. The company told shareholders on Thursday that it had received the credit approval from Credit Suisse for $30-million in senior debt... 

Kingsrose secures A$15m funding to expedite Talang Santo development

By: Esmarie Swanepoel     12th February 2013 Indonesian gold miner Kingsrose Mining has secured a A$15-million funding facility from Credit Suisse to expedite mine development of its Talang Santo project, once the Indonesian Mines Department provided final permission for full mining activities to restart. Operations at the Talang Santo... 

Commodities at ‘very delicate, overly pessimistic stage' – Credit Suisse

By: Martin Creamer     4th February 2013 The global commodities market was at a “very delicate” and “overly pessimistic” stage, Credit Suisse Commodities Research head Ric Deverell said on Monday. Deverell told the Investing In African Mining Indaba, attended by a record 7 500 delegates, that the reason why he was optimistic was a... 

Eskom’s returns request comes under intense scrutiny

By: Terence Creamer     25th January 2013 The push back against Eskom’s request for five yearly tariff increases of 16% between 2013 and 2018 began in earnest in mid-January when the National Energy Regulator of South Africa (Nersa) kicked off its public hearings into the third multiyear price determination (MYPD3) application. The... 

Mutiny enters A$41m financing deal with Sandstorm

By: Esmarie Swanepoel     6th December 2012 ASX-listed Mutiny Gold has entered into a A$41-million financing agreement that would be used towards bringing its Deflector gold/copper project, in Western Australia, into production by the fourth quarter of 2013. Mutiny said on Thursday that it had signed a $43-million metals purchase... 

Alkane looks at funding options for Dubbo

By: Esmarie Swanepoel     25th October 2012 Diversified explorer Alkane Resources has appointed advisers to investigate its funding options for the Dubbo zirconia project, in New South Wales. Financial services providers Credit Suisse, Sumitomo Mitsui Banking Corporation and Petra Capital have been appointed to secure a financing package... 

Credit Suisse to arrange A$19m debt for Reed’s Meekatharra

By: Esmarie Swanepoel     28th September 2012 Gold developer Reed Resources on Friday told shareholders that Credit Suisse would arrange a A$19-million debt facility to fund the working capital requirements for the Meekatharra gold project, in Western Australia. The company announced in July that it had secured a A$23-million funding... 

Crocodile Gold more than triples Q2 production

By: Henry Lazenby     13th July 2012 The acquisition of two Victoria-based gold mines from AuRico in May had enabled TSX-listed Crocodile Gold to increase its quarter-on-quarter production by 235% to 36 117 oz. The company, which mainly operates openpit mines in Australia’s Northern Territory, added the Fosterville (FGM) and... 

Xstrata/Altona start negotiating on Roseby price

By: Esmarie Swanepoel     2nd July 2012 Copper developer Altona Mining on Monday reported that it has launched a formal process with diversified miner Xstrata, after being informed that Xstrata would exercise its option to acquire a 51% interest in the Roseby tenement, which contains the Little Eva copper project. Altona and Xstrata... 

Stanmore Coal secures Wiggins Island export capacity

By: Esmarie Swanepoel     28th June 2012 ASX-listed junior Stanmore Coal has secured export capacity for its The Range project from the Wiggins Island Coal Export Terminal Expansion Phase 1 (WEXP1). A capacity commitment deed (CCD) has set out the framework for how coal producers involved in the 32.2-million-ton-a-year WEXP1 could... 

Altona looking for Little Eva financing

By: Esmarie Swanepoel     12th June 2012 Copper developer Altona Mining has appointed Credit Suisse as its corporate advisor to assist in developing financing strategies for the 39 000 t/y Little Eva project, in Queensland. A recently completed feasibility study found that the A$320-million project could have a life-of-mine of some 11... 

Alexis gets $45m loan, to change name to QMX Gold

By: Matthew Hill     30th May 2012 Canada’s Alexis Minerals, which on Tuesday sealed a $45-million loan from Credit Suisse, said it will ask shareholders to vote in June to change the TSX-listed firm’s name to QMX Gold Corporation. The company will also put a 20:1 share consolidation before shareholders to decide on. 

Mutiny close to securing project financing for Deflector

By: Esmarie Swanepoel     18th April 2012 Gold developer Mutiny Gold on Wednesday said that it would likely secure some A$70-million in project financing by mid-year to start operations at its 530 000 oz Deflector deposit, at the Gullewa project in Western Australia. MD John Greeve told the Paydirt Gold conference, in Perth, that the... 

Glencore and Xstrata, catalyst for more mining M&A

By: Reuters     27th March 2012 Megadeals like Glencore's planned acquisition of Xstrata could encourage other mining companies to embark on decisive M&A of their own, senior bankers said at the Reuters Mining and Metals Summit on Tuesday. "The market is reasonably conducive to M&A, other large strategic deals could provoke... 

Oracle enters $70m loan agreement with Credit Suisse

By: Matthew Hill     12th March 2012 TSX-quoted Oracle Mining has entered into a nonbinding agreement with Credit Suisse to borrow up to $70-million to assist in reopening a copper mine in Arizona, the company said on Monday. The Oracle Ridge mine, located 24 km north-east of Tucson, produced during the mid-1990s, and the... 


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