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Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • Shareholders approve internal restructuring of Sibanye Gold
    Sibanye Gold Limited (SGL) and dual-listed miner Sibanye-Stillwater on Thursday announced that all resolutions for the approval of an internal restructuring process to create a new holding company and listings for the group to be effected by way of a scheme of arrangement, had been passed by the requisite majority of votes at a scheme meeting. Completion of the scheme remains subject to the satisfaction or waiver of the outstanding scheme conditions precedent.
  • Edenville raises £700 000
    Aim-listed Edenville Energy has completed its fundraising, securing the necessary working capital to meet the current contracted production demands of up to 12 000 t of washed coal a month from its flagship Rukwa coal project, in Tanzania. Edenville has raised £700 000, before expenses, by way of the placing of 1.7-billion new ordinary shares valued at 0.02p each in the company at a placing price of 0.04p a share with existing stakeholders through Brandon Hill Capital.
  • Kagem signs wage agreement with unions
    Zambian miner Kagem Mining has signed a collective agreement with unions that will result in unionised employees receiving a 10% increase in basic salary for 2020 and a further 10% increase for 2021. The collective agreement followed successful negotiations between Kagem management and representatives of the National Union of Miners and Allied Workers (NUMAW) and the Mine Workers Union of Zambia (MUZ), during which it was also agreed to enhance the company pension contribution from 15% to 20% of basic pay, bringing the effective salary increase to 15% for 2020 and 2021, and the overall increase to 22.5% over the next two years.