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Megan van Wyngaardt

Megan van Wyngaardt

Megan van Wyngaardt is Creamer Media Senior Contributing Editor Online for Engineering News and Mining Weekly.

Tel: +2711 622 3744

Email: newsdesk@engineeringnews.co.za

South Africa’s steel production fell 3.5% y/y in May

21st June 2017 World crude steel production reached 143.3-million tonnes in May, a 2% year-on-year increase, the World Steel Association (worldsteel) reports. South Africa’s output, however, dropped by 3.5%, from 581 000 t in May 2016, to 561 000 t, indicating the ongoing challenges facing the local steel... 

Sibanye raises $1.05bn in oversubscribed bond offering

21st June 2017 Sibanye on Wednesday reported that it had successfully completed an international corporate bond offering, which was about two times oversubscribed and raised $1.05-billion. The bonds comprise two tranches – a $500-million five-year note, carrying a 6.125% coupon and a $550-million eight-year... 

Horizonte advances feasibility study for Araguaia project

21st June 2017 Nickel developer Horizonte Minerals has awarded contracts for key parts of the feasibility study at its 100%-owned Araguaia nickel project, in Brazil. The dual-listed miner has appointed Steinweg Handelsveem for material transport and logistics, SM&A Electrics for power infrastructure and power... 

Galane, Vantage extend date by which binding acquisition agreement to be signed

21st June 2017 TSX-V-listed miner Galane Gold and South Africa-focused Vantage Goldfields have agreed to extend the date by which a binding acquisition agreement between the parties will be executed to June 26. The miners in May signed a letter of intent (LoI) agreeing that Galane acquire all of Vantage’s... 

Pallinghurst lowers acceptance condition for Gemfields takeover

21st June 2017 Pallinghurst Resources on Wednesday lowered the minimum acceptances required for its proposed takeover of Gemfields from 75% to 60%. The company had received valid acceptances from shareholders holding about 14.16% of Gemfields shares, which, with its own Gemfields shareholding of 47.09%, pushed... 

Xtract, Nexus amend mining agreement

20th June 2017 Xtract Resources and Nexus Capital have agreed to revise the terms of their collaboration agreement for the exploitation of alluvial gold deposits at the Manica project, in Mozambique. The parties in February agreed that the alluvial gold interest would be developed jointly through the... 

Ngebulana to step down as Rebosis CEO in September

20th June 2017 JSE-listed property developer Rebosis’s recent acquisition of two dominant regional shopping malls and management companies from Billion Group has necessitated the company making some key leadership changes. The company on Tuesday noted that it had become imperative to have dedicated and... 

Untapped drone industry holds multibillion-rand potential for economy

20th June 2017 South Africa’s economy is set to earn around R2-billion and gain about 3 600 formal jobs through the economic output generated by the local drone industry, Commercial Aviation Association of South Africa economist Dr Roelof Botha believes. Speaking at Drone Con, in Midrand, last week, Botha said... 

Gemfields committee recommends Fosun offer despite calling it ‘unreasonable’

20th June 2017 Emerald miner Gemfields on Tuesday said Fosun Gold Holdings’ cash offer for all the shares in Gemfields at 45p apiece – totalling £256-million – was unfair and unreasonable. Fosun Gold on Tuesday morning raised its offer for Gemfields, with the offer representing a premium of 18% to Gemfields'... 

Rio Tinto picks Yancoal offer over that of Glencore in C&A sale

20th June 2017 Diversified miner Rio Tinto on Tuesday urged its shareholders to vote in favour of the sale of its wholly-owned subsidiary Coal & Allied Industries (C&A) to Yancoal Australia, as opposed to electing the counter proposal from Glencore. In January, Rio Tinto reached a binding agreement for the sale... 

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