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OreCorp to raise A$20.6m to fast-track Tanzania project
Published: 29 Mar 17
ASX-listed OreCorp will raise A$20.6-million through a share placement to institutional and sophisticated investors to fast-track the development of its Nyanzaga gold project, in Tanzania. The company will place 43-million ordinary shares at an issue price of 48c each to investors in North America, Europe and Australia.
Report highlights mining, Mets sectors’ contribution to Aus economy, jobs Report highlights mining, Mets sectors’ contribution to Aus economy, jobs
Published: 29 Mar 17
New data by advisory firm Deloitte Access Economics has shown that the mining and mining equipment, technology and services (Mets) sectors contributed 15% of Australia’s gross domestic product in 2015/16, delivering some A$236.8-billion. The report, which was commissioned by the Minerals Council of Australia (MCA), showed that the two sectors supported some 1.1-million jobs across Australia, accounting for around 10% of total employment.
Metals Australia buys into Canadian cobalt
Published: 29 Mar 17
ASX-listed explorer Metals Australia has struck a deal to acquire the Lac du Marcheur cobalt project, in Quebec, while also raising A$2.45-million through a private share placement. Under the acquisition agreement, Metals Australia had a 15-day period to conduct a due diligence on the Lac du Marcheur project, after which time the junior could choose to acquire the project in exchange for 12.5-million fully paid ordinary shares.
Botswana grants Sese mining lease
Published: 29 Mar 17
The Botswana government has awarded ASX-listed African Energy a mining license for its Sese joint venture (JV). The mining license covers 51.47 km2 and contains 650-million tonnes of raw coal classified as measured and indicated resources, with African Energy saying on Tuesday that the granted mining lease contains more than enough coal for the currently contemplated 450 MW power project, as well as multiple expansions.
Vango starts de-watering at K2
Published: 29 Mar 17
ASX-listed gold developer Vango Mining has started its de-watering programme at the K2 underground gold mine, in Western Australia. “We are delighted to be in a position to commence de-watering of the K2 deposit. Despte an extended period of heavy seasonal rain at the project area, we have been able to instigate and embark on the de-watering progamme as per our operational timetable, which is particularly pleasing,” said Vango executive chairperson Bruce McInnes.
Jervois granted special status in NT
Published: 29 Mar 17
The Northern Territory government has awarded the Jervois copper-silver-gold project major project status, inking a project facilitation agreement (PFA) with owner KGL Resources. The PFA requires the territory government and the company to work together to progress the project through the require approvals processes.
Eskom cancels supplier contract owing to inferior coal
Published: 29 Mar 17
State-owned power utility Eskom has terminated a contract with a major coal supplier to its Tutuka power station after discovering the coal supplied was not extracted from the contracted collieries. The parastatal, following strict monitoring of the coal quality to the station, revoked the contractual relationship with Just Coal owing to its “consistent supply of inferior coal”.
Zuma postpones Cabinet meeting Zuma postpones Cabinet meeting
Published: 29 Mar 17
President Jacob Zuma has postponed the start of Wednesday’s Cabinet meeting “to later this afternoon” to enable members to attend the funeral of struggle stalwart Ahmed Kathrada, the Presidency said. “President Jacob Zuma has again expressed deep sadness and extended his heartfelt condolences to former Public Enterprises Minister Barbara Hogan and family on the passing of one of the most respected struggle stalwarts and former Member of Parliament,” said the Presidency in a statement.
India to offer free pricing, revenue sharing model to open up commercial coal mining
Published: 29 Mar 17
Returning to commercial coal mining for the first time since 1973, India will offer free pricing and a revenue sharing contracts to investor securing coal blocks through the reverse auction route. In a working paper outlining the plans for launch of commercial mining, the Coal Ministry proposed that such would be kick-started by putting up aggregate reserves of 30-million tonnes on offer to miners through the reverse auction route.
Acacia rebuffs reports that it violated Tanzanian concentrate export ban
Published: 28 Mar 17
London-listed gold producer Acacia Mining has denied allegations that it is trying to export gold and copper concentrates despite a ban by the Tanzanian government. Neither the company nor its customers have attempted to export gold and copper concentrates, the company said in a press release on Tuesday.
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