Close

Investments & Finance

ARM’s earnings to be 45% lower in H2 2014

JSE-listed African Rainbow Minerals (ARM) anticipates that its headline earnings for the six months ended 31 December were likely to be at least 45% lower than the same period in the prior financial year. The company made the announcement on...

Rio Tinto to spend $350mn at Diavik mine

Rio Tinto announced its plans to spend part of its much reduced capital spending budget expanding the Diavik mine in Canada, in a move that’s reinforces the company’s renewed commitment to its diamonds business, according to reports. The $350...

Oakbay valued at R8.1 billion after JSE-listing

Oakbay Resources and Energy, owned by the Gupta Family, listed in the General Mining sector on the JSE’s Main Board on Friday. Oakbay is the 16th company to list on the JSE this year, noted JSE Limited in a statement. Oakbay value Following share...

Lonmin completes 26% BEE-ownership requisite

Lonmin announced the completion of three black economic empowerment (BEE) transactions on Wednesday effectively completing the 26% BEE-ownership in the company as required by law. The London- and Johannesburg-listed company said the three...

Wescoal leverages mining and trading divisions

Junior coal miner Wescoal announced on Wednesday that it is combining its mining and trading busineses to carve out a special position in the market. The company states that Wescoal Trading has contributed significantly to the strategic development...

Refinancing of $98 million BEE partner loans

Petra Diamonds said on Monday that it has entered into agreements with Absa and Rand Merchant Bank (RMB) who will directly finance its black economic empowerment (BEE) partners for loans due to the company. FirstRand Bank Limited acting through RMB...

Gupta’s to invest R800mn in new uranium mine

The multi-business empire of the Gupta family that includes interests in mining, infrastructure and publishing plans to raise about R800-million for a uranium mining company with assets in North West Province, South Africa. Gupta-owned Oakbay...

African Eagle to acquire Lime-Chem for $6mn

JSE-listed mining firm, African Eagle Resources (Eagle), on Thursday said it has taken steps to acquire iron ore miner, Lime-Chem Resources (LCR). Eagle said the aggregate consideration for the acquisition will be $6 million less the value of net...