Wednesday, 14 October 2009 14:26
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Mining Weekly Headlines
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SIOC reportedly not the lone bidder for ‘lost' Sishen assetThe Sishen Iron Ore Company (SIOC) is reportedly not the only mining company to have applied to the Department of Mineral Resources (DMR) for the 21,4% undivided share of the Sishen iron-ore mine, which has reportedly been forfeited by JSE-listed steel group ArcelorMittal South Africa. The failure of ArcelorMittal South Africa to convert the right in line with the prescripts of the Mineral and Petroleum Resources Development Act was at the centre of SIOC's decision to cancel, as from March 1, 2010, a cost plus 3% supply agreement for 6,25-million tons of Sishen iron-ore supplied.
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CoAL receives approval to take bulk-sample at MakhadoSouth Africa's Department of Mineral Resources (DMR) has granted junior miner Coal of Africa Limited (CoAL) approval to take a bulk sample from its Makhado coking coal project. The Aim-, ASX- and JSE-listed CoAL holds a 100% interest in the Makhado project, which is expected to deliver five-million tons a year of hard coking coal product at full output.
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Catalpa reports output rises at Queensland gold JVAustralian gold producer Catalpa Resources has reported that its Cracow gold joint venture with Newcrest, in Queensland, in which it acquired a 30% stake during the six months to December 31, 2009, set new stoping and processing records during December. In its interim report, the company said that a new monthly stoping record of 36 043 t, and a new monthly mill processing record of 41 858 t was achieved during December.
IOL Headlines
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AngloGold:Supervisor dies in accidentA supervisor at AngloGold Ashanti's Kopanang mine near Klerksdorp had died following an accident, the company said on Friday.
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African Barrick Gold sets IPO price range -sourcesAfrican Barrick Gold (ABG) has started bookbuilding for its $975 million (R7.3 billion) initial public offering.
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Glencore buys back Prodeco, still mulling partnerSwiss-based commodity trader Glencore bought back its prized Prodeco coal operations in Colombia from mining group Xstrata.
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Glencore exercises Prodeco coal optionXstrata has received formal notification from Glencore International informing it of Glencore's exercise of its option to acquire the Prodeco operations.
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Kenmare Resources raises $270 mln for Moma mineKenmare Resources said it would raise 179.6 million pounds (R2.022 billion) to expand output of titanium dioxide.