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Eastplats shareholder launches court petition against transactions with Union Goal
Published: 09 Nov 18
Eastern Platinum (Eastplats) has received a petition, filed with the Supreme Court of British Columbia by 2538520 Ontario Limited, a shareholder of the company, seeking leave from the court to start a derivative action against certain of its current and former directors in relation to the approval of the transactions between the company and Union Goal Offshore Solutions. On March 5, Eastplats and its subsidiary Barplats Mines entered into an agreement with Union Goal Offshore Solution for the construction, mining and processing of the tailings resource, and the subsequent offtake of chrome concentrate from the Barplats Zandfontein Upper Group 2 tailings facility located at the Crocodile River mine, in South Africa.
Salt Lake raises A$13m for Lake Way
Published: 09 Nov 18
ASX-listed Salt Lake Potash will raise A$13-million through a share placement to institutional and sophisticated investors, to fund the development of its Lake Way project, in Western Australia. The company on Friday said that some 31-million new shares will be placed at a price of 42c a share, representing a discount of 13.4% to Salt Lake’s last closing price of 48.5c a share.
Superior claims it has rights to Vango’s Plutonic tenements
Published: 09 Nov 18
TSX-V-listed Superior Gold has launched legal proceedings against ASX-listed Vango Mining and its subsidiary Dampier Plutonic (DPPL) over tenements northeast of the Plutonic gold mine, in Western Australia. Superior Gold, through its own subsidiary Billabong Gold, is claiming that it held rights of first refusal under a 2014 ore treatment agreement over tenements within Vango’s Plutonic Dome project, and that these rights were breached during Vango and DPPL transactions in 2016 and 2017.
Capstone streamlines organisational structure
Published: 09 Nov 18
Base metals miner Capstone has announced reductions to its organisational structure, including changes to its senior executive team. The changes include eliminating 35% of positions from its head office in Vancouver, which would reduce corporate general and administrative expenses by about $5-million a year.
Wind energy industry commits to investing in South Africa
Published: 09 Nov 18
South Africa’s wind energy industry has adopted a charter, which commits to long-term investment in the development of the country. A commitment statement drafted by members of the industry was adopted at an annual general meeting of the South African Wind Energy Association (SAWEA) in Cape Town. It comes in the wake of a transition to an energy mix that will reflect a greater inclusion of renewables.
Atlas compulsory acquisiton set to start
Published: 09 Nov 18
Hancock Prospecting will start the compulsory acquisition of the remaining shares in ASX-listed Atlas Iron, after gaining more than a 90% shareholding in the takeover target at the end of the offer on October 12. Hancock’s subsidiary Redstone Corporation on Friday told Altas that it would lodge a notice of compulsory acquisition for the remaining shares in Atlas under the same terms as the offer, namely 4.6c a share.
Court sets aside decision allowing coal mine in Mabola Protected Environment
Published: 09 Nov 18
The North Gauteng High Court in Pretoria has set aside a 2016 decision allowing a new coal mine to be developed in the Mabola Protected Environment near Wakkerstroom, Mpumalanga. The decision had been made by of former mineral resources minister Mosebenzi Zwane and late environmental affairs minister Edna Molewa. The court order, made by a coalition of eight civil society organisations, challenged a range of authorisations permitting an underground coal mine in a strategic water source area and ...
Australia state to roll out new mine rehabilitation rules
Published: 09 Nov 18
Australia's Queensland state is set to unveil proposed resource regulations next week that will require miners to pay into an "insurance fund" for the remediation of old mines. The regulations, if enacted, will impact the likes of BHP Billiton , Rio Tinto and Glencore, which all have operations in the mineral-rich state. The new rules would be the most significant reform of the state's rehabilitation framework in nearly two decades, the Queensland government said.
Product demand expected to come from rest of Africa
Published: 09 Nov 18
According to sales, demand from the African mining market, but mostly West Africa, has increased for drive and automation specialist SEW-Eurodrive’s M-Series vertical industrial gear unit designs for conveyor and agitator applications.
Automation technology  gaining traction in SA Automation technology gaining traction in SA
Published: 09 Nov 18
While automation technology is still fairly new to Southern Africa, mines and quarries are recognising that automation technology is crucial to a sustainable and profitable future, says mining equipment supplier Epiroc regional business line manager Hedley Birnie.
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