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Mining weekly

19 August 2019

  • Ivanhoe, Citic Metal complete second equity investment
    TSX-listed Ivanhoe Mines has completed the second major strategic equity investment of C$612-million in the company by Citic Metal Africa Investments, a subsidiary of Chinese resource company Citic Metal. Announced by Ivanhoe co-chairpersons Robert Friedland and Yufeng (Miles) Sun on Friday, the investment forms an integral part of Ivanhoe and Citic Metal’s long-term strategic cooperation and brings Citic’s investment in Ivanhoe to more than $1-billion in less than one year.
  • Nornickel is said to invite bank pitches for copper-mine IPO
    MMC Norilsk Nickel is soliciting pitches from banks to participate in an initial public offering (IPO) of its Russian copper mine, according to people familiar with the matter. The miner has invited proposals from Russian and international banks, said the people, who asked not to be identified discussing private information. The size of the IPO stake and other details have yet to be decided.
  • Amani to raise $2.5m for DRC gold project
    ASX-listed Amani Gold has received commitments to raise up to $2.5-million through the issue of up to 833-million fully paid ordinary shares at an issue price of $0.003 a share. Completion of the placement and issue of the placement shares will be subject to shareholder approval at a general meeting of shareholders that is likely to be held by early October. Subject to shareholder approval, funds raised under the placement will be used to advance the Giro gold project, in the Democratic...
  • Transportable, tradable ‘green’ hydrogen earmarked to replace oil
    Clean hydrogen, which South Africa is ideally placed to produce because of its superior sunshine, prime wind, available land and platinum abundance, is earmarked to one day replace oil in a world anxious to mitigate climate change, the planet’s most pressing current problem. New liquid organic hydrogen carrier (LOHC) technology has made it possible for hydrogen to be handled in the same way as oil is, using conventional oil tankers and road tankers for transport and underground tanks for storage.
  • Coal India faces time overruns across 54 projects
    A total of 54 out of State-run miner Coal India Limited’s (CIL’s) 120 coal mining projects are delayed, the company says in its latest financial statement. CIL reports that the major reasons for the delays in completion of the 54 projects are the time taken in securing mandatory environment and forest clearances, land possession complexities and issues relating to resettlement and rehabilitation of project-affected people.

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