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Optimum Coal says alternative bidder withdraws

JSE-listed Optimum Coal, which Glencore and local businessperson Cyril Ramaphosa want to buy, said on Friday that an alternative bidder has withdrawn its interest in acquiring a controlling stake in the miner.

Zambia projects in pictures

Zambia is famous for its significant reserves of copper and cobalt, located in the Zambian Copperbelt province, however, the country is also a miner and producer of selenium and silver. Gold, platinum, and palladium are also produced as a by-product of

Fortescue reports 1.54Bn ton reserve at Chichester Hub

PERTH ( Iron-ore miner Fortescue Metals has reported that current reserves at its Chichester Hub operation, in Western Australia, suggested a 19-year life of mine, based on a production rate of 90-million tons year. Fortescue has

Areva says stolen Namibian uranium from its mine

WINDHOEK – Four drums of radioactive material stolen last week in Namibia contained uranium ore and came from Areva's Trekkopje Mine in the country, the French company said on Friday. Four suspects have been arrested and the stolen material has been

$93bn a year needed for Africa infrastructure

PERTH ( Global law firm DLA Piper on Wednesday estimated that Africa would need an estimated $93-billion infrastructure investment each year. “This is best exampled when you consider there are only 10 000 km of roads connecting African
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Xstrata to develop south decline at Helena mine

Diversified miner Xstrata Alloys was progressing the ramp-up of its Helena chrome mine, in Mpumalanga, with the development of a south decline underground, the company said.