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Wescoal coal mining operation Salungano expects to widen headline loss to at least 50.6c
Published: 26 Mar 24
After having multiple subsidiaries experience financial difficulty in recent years, with some having entered into business rescue in recent months, JSE-listed Salungano Group expects to report a headline loss a share of between 50.65c and 57.65c for the year ended March 31, 2023. This compares with headline earnings a share of 6.13c reported in the prior financial year.
Oil and gas rig Enviro groups approach High Court over TotalEnergies Cape coast drilling plans
Published: 26 Mar 24
Environmental organisations The Green Connection (TGC) and Natural Justice have submitted an application in the High Court against the environmental authorisation granted to TotalEnergies Exploration and Production South Africa (Teepsa) for exploratory drilling in Blocks 5, 6 and 7 on the Cape Town and Cape Agulhas coast. The respondents include Mineral Resources and Energy Minister Gwede Mantashe; the director-general of the Department of Mineral Resources and Energy (DMRE), who granted the environmental authorisation; and Forestry, Fisheries and the Environment Minister Barbara Creecy, who dismissed appeals by various people and organisation against this decision.
Brand value increases in mining, metals and minerals; BHP comes out top Brand value increases in mining, metals and minerals; BHP comes out top
Published: 26 Mar 24
This year, more than half of the brands in the ranking of the world’s most valuable and strongest mining, metals and minerals brands witnessed an increase in brand value, according to new data from brand valuation consultancy Brand Finance. This year, 11 brands from the US, China and South Korea entered the ranking.
Caracal raising £780 000
Published: 26 Mar 24
Gold producer Caracal Gold is raising £780 000 by way of a subscription through the issue of 260-million new ordinary shares of £0.001 in the company at a price of £0.003 a share. The funds of the subscription will be paid in five equal instalments of £156 000 and the company will issue 260-million new ordinary shares upon completion of the final instalment.
Transnet Freight Rail’s North Corridor achieves weekly record
Published: 26 Mar 24
Transnet Freight Rail’s (TFR’s) North Corridor accomplished the delivery of 1.41-million tonnes last week, marking the most substantial weekly performance in terms of volume for the current financial year. This includes the transport of 1.18-million tonnes of export coal to the Richards Bay Coal Terminal and the running of 11 chrome trains.
An image showing new equipment at the Richards Bay Multipurpose Terminal Richards Bay Multipurpose Terminal takes delivery of cargo handling equipment
Published: 26 Mar 24
The Richards Bay Multipurpose Terminal (MPT) has taken delivery of new cargo handling equipment, aiding the loading of export coal, magnetite, chrome and pig iron aboard calling Cape-sized vessels. The terminal is leasing 75 dumpers and 35 payloaders for 12 months – a temporary measure after an unsuccessful bidder challenged the awarding of a new contract in court last year.
Top Australian gold miner seeks to expand Kalgoorlie ‘Super Pit’ Top Australian gold miner seeks to expand Kalgoorlie ‘Super Pit’
Published: 26 Mar 24
Northern Star Resources is seeking to expand its flagship Fimiston gold mine in Western Australia and extend the life of the project to 2034. Kalgoorlie Consolidated Gold Mines, which is wholly owned by Northern Star, has lodged a proposal to widen and deepen the so-called ‘Super Pit,’ the Western Australia state government said in a statement. The miner wants to increase the area of the development to 7 795 ha, up from the currently approved 5 914 ha, it said.
Kinetiko’s deepest core hole to date reveals promising results
Published: 26 Mar 24
ASX-listed Kinetiko Energy, which is conducting onshore gas exploration in Mpumalanga, South Africa, has completed its deepest core hole to date. “Following our previous announcement indicating further exploration success in Block ER270 . . . 270-08C reached a terminal depth (TD) of 745 m when we broke through the Dwyka tillites and encountered granitic basement. We managed to log the entire stratigraphy to TD and are very encouraged by the results,” Kinetiko CEO Nick de Blocq said on March 26.
Majestic Gold flags potential China acquisition
Published: 26 Mar 24
British Columbia-based Majestic Gold has announced a letter of intent (LoI) to acquire a gold project in China. Majestic, through its 70.5%-owned Persistence Resources Group subsidiary, will acquire 70% of the issued share capital of the target company.
Woodside completes sale of 10% Scarborough interest Woodside completes sale of 10% Scarborough interest
Published: 26 Mar 24
Oil and gas major Woodside Energy has completed the sale of a 10% nonoperating participating interest in the Scarborough joint venture (JV) to LJ Scarborough (LNG Japan). The company in August established a strategic relationship with LNG Japan that involved three elements: equity in the Scarborough JV, potential liquefied natural gas offtake and collaboration on potential opportunities in new energy.
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