South32 debuts at $9.1bn mkt cap, under X2’s takeover offer
Today’s JSE newcomer South32, the biggest mining sector spin-off since the noughties, could also become one of the exchange’s shortest ever listings.
miner
African Minerals says Chinese partner releases funds for January payments
African Minerals Ltd said its Chinese partner for its Tonkolili iron ore mine in Sierra Leone agreed to release $6.7 million to pay January salaries and taxes, the second straight month that the miner has had to rely on funds for such payments.
The height of optimism – a junior mining entrepreneur seeking cash
Despite mining stocks being as popular as a priest in a brothel? And Rockwell itself being a negative ten bagger in the last seven years? Good luck James. You’ll need every ounce
Japan’s Mitsui set to buy 15% of Vale’s $3bn Mozambique coal project
Japanese trading house Mitsui & Co is set to buy a stake in Vale’s Moatize coal project in Mozambique, according to two sources close to the situation.
Bloomberg: African oil explorer Tullow ripe for a takeover
After almost a decade of deal speculation, Tullow Oil Plc may finally be ripe for a takeover. The plunge in oil prices has erased more than half of Tullow’s market value since June.
BHP Billiton slashing $4bn off cost base to combat iron ore slump
BHP Billiton stepped up its cost-cutting plans on Monday as the world’s biggest miner battles a sharp slide in iron ore, coal and oil prices
Iron ore miner Vale incurs $1,44bn Q3 loss
Brazil’s Vale on Thursday posted a net loss of $1.44 billion for the third quarter, well below forecasts, hurt by a fall in the price of iron ore and a weakening Brazilian currency.
Marikana and wider economy still hurting from platinum strike
In Marikana, where 34 striking miners were shot dead by police during a wildcat strike against Lonmin in 2012, the length of this year’s stoppage has left many miners cash-strapped despite wage hikes of up to 20 percent as they have to repay debt that piled up when they didn’t have a pay cheque.
BHP Billiton ups Q3 Australian iron ore output
BHP Billiton on Wednesday reported a rise in September quarter iron ore production as the mining giant vowed to continue reducing costs amid depressed prices from a global supply glut.
Iron ore producer London Mining heads for administration
Embattled West African iron-ore miner London Mining Plc said on Thursday that its board had decided to place the company into administration.