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Zimbabwe attracts two new investors to develop platinum mining projects 

By: Reuters     17th April 2019 Zimbabwe will in coming weeks name two new investors who will develop separate platinum mining projects west of the capital as the country ramps up mining output in an attempt to ease a severe dollar shortage, the mines minister said on Wednesday The southern African nation has the second largest... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Premier terminates KME Plant, Honey Badger transactions

By: Simone Liedtke     17th April 2019 Aim-listed Premier African Minerals on Wednesday said it would not proceed with the proposed conditional acquisitions of 50% of the KME Plant and 50% of the equity in Honey Badger Resources (HBR), until there is some finality on the RHA Tungsten mine’s future. As a result, both transactions with... 

Caledonia maintains full-year guidance despite below-target first-quarter output

By: Creamer Media Reporter      16th April 2019 Triple-listed Caledonia Mining has maintained its full-year production guidance for its 49%-owned Blanket mine, in Zimbabwe, despite first-quarter production having been below target. The Aim-, TSX- and NYSE American-listed company on Tuesday reported that the mine had produced 11 948 oz of gold... 

Orion clinches potent new-style empowerment deal  

By: Martin Creamer     16th April 2019 Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution. “What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told... 

Tribunal approves IDC’s buyout of Celrose, with conditions

By: Tasneem Bulbulia     15th April 2019 The Competition Tribunal has approved, with conditions, the proposed transaction whereby the Industrial Development Corporation (IDC) plans to acquire clothing and footwear manufacturer Celrose of which embattled retailer Edcon is a majority shareholder. The IDC is State-owned and provides... 

Metallon halts output at three Zimbabwe gold mines over debts

By: Bloomberg     15th April 2019 Gold producer Metallon Corp halted output at three of its four mines in Zimbabwe because of mounting debts, as a South African newspaper reported the owner is considering selling the operations. The suspension is the latest sign of stress in the southern African nation’s gold industry, which has... 

Tiffany training Africans to cut diamonds sourced from the region

By: Bloomberg     15th April 2019 Tiffany & Co has been expanding its workforce in sub-Saharan Africa – a region of almost one billion people where the jewellery giant does not have a single store. More than a quarter of the New York-based company’s 1 500 global diamond cutters and polishers are now based in Africa, CEO... 

Vast raises £600 000 for Romania, Zim projects

By: Marleny Arnoldi     12th April 2019 Aim-listed diversified miner Vast Resources has raised £600 000 through a placement and subscription of around 440-million shares at a price of 0.135p apiece. The placing was for 407-million ordinary shares, and the subscription was for 37-million shares, of which 29-million and 7.4-million... 

Supportive policy held up as key to unlocking Africa’s auto ambitions 

By: Irma Venter     12th April 2019 Policy certainty and flexible thinking will play an important role as Africa increasingly look to the automotive industry to grow its industrialisation footprint, says Thomas Schaefer, chairperson and MD at Volkswagen Group South Africa (VWSA), as well as chairperson of the African Association of... 

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