Research Channel | Advanced Search - Research Channel Africa

Back NEWS

Nickel 28 reaches settlement with fired CEO to end misconduct claim

Published: 19 Jun 24

Nickel 28 Capital’s former CEO agreed to relinquish nearly half the stock he owned in the company that accused him and other ousted executives of “serious misconduct.” Anthony Milewski agreed to return about 4.97-million shares of Nickel 28 as part of a June 17 settlement with the firm that fired him in May, according to a Tuesday statement. Milewski, who helped found the Canadian nickel and cobalt producer, will own and control about 5.72 million shares — or a 6.4% stake — following the disposition. The settlement includes a full and final mutual release of any claims between the former CEO and the company and no admission of any wrongdoing.

Fortescue is the world's fourth-biggest iron-ore miner

US-based Capital Group sells Fortescue shares worth A$734m

Published: 19 Jun 24

US-based investment management firm Capital Group Companies has sold shares worth A$733.9-million in Australian miner Fortescue, according to an exchange filing on Wednesday. The announcement came after the Australian Financial Review reported on Tuesday that an institutional investor had sold off a A$1.1-billion stake in billionaire Andrew Forrest-led Fortescue after the close of trade on Monday.

Refreshed Lake Maitland uranium study impresses

Published: 18 Jun 24

Australian company Toro Energy has announced the outcomes of a refreshed scoping study for the Lake Maitland deposit, at Wiluna in Western Australia, showcasing “impressive outcomes”. The study, which re-examines its 2022 predecessor amid improved uranium oxide (U3O8) prices, produced a 37% uplift in pretax net present value to A$832.8-million, with a 2.1- year payback period and strong free cashflow projects.

New Talisman secures processing plant

Published: 18 Jun 24

ASX- and NZX-listed New Talisman Goldmines has agreed terms to purchase a processing plant for the Talisman mine project, in New Zealand. The plant, which uses modular gravity separation, has a 100 t/d capacity, which will be sufficient for the near-term production forecast of the mine, the company said in a statement.

Central banks to increase gold holdings in next 12 months - World Gold Council

Published: 18 Jun 24

More than eight in ten, or 81%, of respondents to the 2024 Central Banks Gold Reserves survey said they expect reserve managers to continue to increase their gold holdings in the next 12 months. This data, released by the World Gold Council, reflects the highest confidence level recorded since the survey began in 2019. Despite high gold prices and two successive years of record central bank purchasing, nearly 30% of central banks plan to add to their own gold reserves within the next year. This trend highlights a persistent favourable view of gold among reserve managers, who see the precious metals as a hedge against political and economic uncertainty.

Flashback to the listing of Southern Palladium on the Johannesburg Stock Exchange two years ago.

Southern Palladium remains committed to advancing Bengwenyama project

Published: 18 Jun 24

The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is emphasising the robustness of the upper group two (UG2) reef, project developer Southern Palladium reported on Tuesday. An updated mineral resource estimate (MRE) will now follow in the third quarter of this year to facilitate the commencement of mine planning for the PFS.

Diederichs becomes Predictive COO as firm bolsters management to support Guinea project progress

Published: 18 Jun 24

ASX-listed Predictive Discovery has made several key appointments to further strengthen its board and management team, to support progress with the 5.38-million-ounce Bankan gold project in Guinea. Alberto Lavandeira joins as non-executive director, bringing more than 45 years of development and operating experience across gold, copper and industrial minerals in Africa and Europe.

Galantas’ Omagh trial stoping proves viability of mining method

Published: 18 Jun 24

TSX-V-listed Galantas Gold has completed its trial stoping programme at the Cavanacaw gold mine at the Omagh project in county Tyrone, Northern Ireland. This programme has enhanced the company’s understanding of the mine development process and confirmed the viability of using a longhole mining method with backfill at Cavanacaw. “The trial stoping has provided sufficient information to bring a high level of confidence for a successful stoping programme in the future,” stated CEO Mario Stifano.

Debswana reports fatality at its Jwaneng mine

Published: 18 Jun 24

Botswana's Debswana Diamond Company on Tuesday reported a fatality at its Jwaneng mine following an accident involving a crane and drill rig. The incident, which took place on Monday, involved an employee of one of Debswana's contracting companies, it said in a statement. Investigations into the incident are ongoing, Debswana added.

Thungela Resources active in Mpumalanga.

Thungela poised to spend R3.9bn capital in South Africa

Published: 18 Jun 24

Johannesburg Stock Exchange-listed Thungela Resources is poised to spend R3.9-billion worth of capital in South Africa going forward. An estimated R1.3-billion of this capital expenditure (capex) is scheduled to be spent in the next six months and a further R800-million in the final six months of the company’s financial year to end June 2025.