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Manas withdraws from Tanzania buy
Published: 25 May 18
Explorer Manas Resources has abandoned its bid to acquire the Victoria gold project, in Tanzania, after a lack of progress to transfer the licence, as well as challenging conditions facing mining companies operating in the country. Manas in April last year struck a deal to acquire the Victoria project for a staged cash consideration of $1.8-million and $2-million in shares, subject to licence transfer milestones.
American Pacific buys into US projects
Published: 25 May 18
ASX-listed American Pacific Borate and Lithium will spend $3-million to acquire a 100% interest in the Salt Wells North and Salt Wells South borate and lithium exploration projects, in Nevada. In addition to the $3-million exploration spend over a five-year period, American Pacific will also be required to pay $100 000 to the vendor up-front, to reimburse its project costs, with the company also required to pay all claim related expenditure, estimated at $300 000, over the five-year period.
Esor postpones release of FY18 results
Published: 25 May 18
Civil engineering and construction group Esor has postponed the release of its annual financial statements for the year ended February 28 to June 29. The group on Friday said it still needed to confirm various claims and provisions on certain material contracts and the related impact on revenue recognition and would, therefore, not be in a position to publish its results by May 31, as is required by the listings requirements of the JSE.
Aton increases interest in M&R to 43.70%, lifts offer price to R17 a share
Published: 25 May 18
German-owned Aton has acquired a further 18.25-million shares in Murray & Roberts (M&R). Following the settlement of these shares’ acquisition, Aton will hold 194.35-million shares in M&R, representing about 43.70% of the entire issued share capital.
Centamin lowers FY18 production guidance
Published: 25 May 18
Aim-listed Centamin's share price on the LSE fell by more than 15% on Friday after the miner lowered its production guidance for the full year to between 505 000 oz and 515 000 oz. It had previously expected to produce 580 000 oz of gold for the full year, however, it said in a statement on Friday that low grades from the transitional zone in the openpit, combined with lower development grade from underground production at its flagship Sukari mine, in Egypt, persisted.
African airlines switching to more economical regional airliners
Published: 25 May 18
Regional airliner manufacturers are seeing a major adjustment in African airline markets as airlines "right-size" their fleets, adopting more economical, regional types (especially regional jets). This was made clear at the twenty-seventh African Aviation Summit (Air Finance Africa) on Thursday by representatives of both the major regional jet original-equipment manufacturers (OEMs), Canada's Bombardier and Brazil's Embraer. Bombardier senior VP: Middle East and Africa Jean-Paul Boutibou observed that an adjustment was now taking place in Africa between routes, traffic and aircraft. "There were lots of activities on the new aircraft side," he said, as airlines switched from standard single-aisle types such as the Airbus A320 and Boeing 737 families to regional jets.
Uber adds new safety features for drivers
Published: 25 May 18
Ride-hailing service Uber hopes the launch of its latest safety feature will further improve the safety of drivers and passengers. It announced on Thursday that it was partnering with Aura, a security technology service that would allow Uber drivers to be connected to the closest private security response vehicle through a nationwide network of security and medical response partners. Uber's partnership with Aura started in 2016 during a three-month long pilot of SOS buttons for Johannesburg ...
NPA applies for forfeiture order in McKinsey, Eskom matter
Published: 25 May 18
The National Prosecuting Authority (NPA) has confirmed that it filed papers in the North Gauteng High Court in Pretoria on Wednesday in an application for a forfeiture order against global consultancy McKinsey. Fin24 reported earlier this year that Eskom approached the court in a bid to recover funds from McKinsey for work it had done for the power utility. This was later found to be irregular. It is also looking into ways of recovering money from Gupta-linked company Trillian. The power ...
Vale sees key mine topping iron-ore output forecasts in 2018 – source
Published: 25 May 18
Brazilian miner Vale expects iron-ore output at its premier S11D mine to reach 58-million tonnes this year, above an official forecast of 50-million to 55-million tonnes, a person familiar with the matter said. The expected increase is due mainly to selling more "canga," or iron-ore with a higher grade of contaminants - along with iron-ore, since it has shown strong demand, said the person, who spoke this week. The source requested anonymity because the data is confidential.
Nautilus unveils spider-inspired sediment sampler
Published: 25 May 18
Marine mining pioneer Nautilus Minerals has unveiled a new autonomous sediment sampler called the 'Nautilus Jumping Spider’ for use in sampling deep-sea deposits, that could cut exploration costs “by an order of magnitude”, the company reported on Thursday. Nautilus said it has successfully completed the first trial of the insect-inspired creation. On landing on the seafloor, a mechanical trigger starts both the suction system that delivers sediment up the tubular legs and into the sample housing.
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