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Published: 24 Jun 24

Vancouver-headquartered B2Gold has announced the sale of 79-million shares of Calibre Mining for gross proceeds of C$139.04-million. Immediately prior to the transaction, announced on Friday, B2Gold owned 110 950 333 common shares of Calibre, representing about 14.1% of the company’s stock. B2Gold’s ownership has decreased to less than 10% of the issued and outstanding common shares.

El Niño dries up South Africa’s agricultural business confidence for the second quarter

Published: 24 Jun 24

The Agricultural Business Chamber of South Africa (Agbiz) and Industrial Development Corporation’s Agribusiness Confidence Index (ACI) reached a 15-year low of 38 points in the second quarter of the year. This is the lowest level since the third quarter of 2009 and compares with a level of 40 in the first quarter of the year.

PPC reports a 20.6% boost in revenue thanks to Zimbabwe business

Published: 24 Jun 24

Cement company PPC has reported a 20.6% year-on-year increase in revenue to about R10-billion for the financial year ended March 31, compared with the R8.3-billion in revenue reported for the prior financial year. At the release of its financial results, on June 24, the company said this growth was primarily driven by the company's performance in Zimbabwe.

Maple gains full ownership of Quebec projects from Agnico

Published: 24 Jun 24

TSX-V-listed Maple Gold has consolidated ownership of the multi-million ounce Douay gold project and past-producing Joutel gold project, in Quebec. This follows the restructuring agreement between Maple and joint venture (JV) partner Agnico Eagle, terminating the 2021 agreement between the companies.

MC Mining names interim MD, CEO

Published: 24 Jun 24

Coal miner MC Mining has appointed nonexecutive director Christine He interim MD and CEO, with effect from July 1. This follows the earlier announcement that Godfrey Gomwe has resigned as MD and CEO of JSE-, Aim- and ASX-listed MC Mining, with effect from June 30.

Funds to retrench, magnifying copper's losses

Published: 24 Jun 24

Sluggish demand in top consumer China and soaring inventories mean funds are likely to retreat further from the copper market, analysts say, adding more pressure to prices which have dropped around 12% since hitting record highs last month. However, funds will return as shortages of the metal created by significant demand growth from the electric vehicle sector and new applications such as data centres start to appear.

Transnet to take disciplinary action against some TNPA employees

Published: 24 Jun 24

State-owned Transnet announced at the weekend that law firm Bowmans had concluded its investigation into allegations of impropriety at Transnet National Ports Authority (TNPA). Transnet also appointed Bowmans to assist with implementing the recommendations of a forensic report by Fundudzi Investigators, which considered the award of a tender for the multipurpose terminal at the Port of Ngqura, in the Eastern Cape.

Power Nickel secures C$20m investment from leading investors

Published: 24 Jun 24

Exploration junior Power Nickel has closed an over-subscribed flow-through offering, raising C$20-million at C$1.25 a unit. Each unit includes one flow-through common share and one-half of one share purchase warrant. The financing round received strong backing from industry heavyweights Robert Friedland, Rob McEwen, CVMR and Terra Capital. These investors have shown confidence in Power Nickel’s potential, particularly its Nisk project, in Quebec, said CEO Terry Lynch.

Johannesburg-listed Jubilee gains two more Zambia copper mining operations

Published: 24 Jun 24

Johannesburg- and London-listed Jubilee Metals has acquired two opencast Zambia copper mining operations. “The strategic acquisition of the two opencast operations is an example of our ability to leverage our process capability to secure significant near-surface copper resources already in operation,” Jubilee CEO Leon Coetzer said of the continually advancing diversified metals producer, chaired by former Mpumalanga Premier Mathews Phosa.

Paladin to buy Fission Uranium for C$1.14bn

Published: 24 Jun 24

Uranium mining company Paladin Energy on Monday announced the acquisition of Fission Uranium for C1.14-billion, creating a global uranium leader with assets in Canada, Namibia and Australia. Paladin CEO Ian Purdy said both sets of shareholders would benefit from the increased scale of the enlarged company, with a combined mineral resource representing one of the biggest among pure-play uranium companies globally.