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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

Bluejay Mining to further explore Disko project

20th June 2017 Nordic-focused metals miner Bluejay Mining has finalised a field programme to refine the geological model of the Disko Nuussuaq project, in Greenland. Disko is a large-scale magmatic massive sulphide (MMS) target, which demonstrates many characteristics analogous to a flood basalt MMS... 

Ariana Resources raises funds for Turkey gold projects

20th June 2017 Gold exploration company Ariana Resources has raised £1.87-million through the placement of 133.8-million ordinary shares and the subscription of 10.03-million new ordinary shares, at 1.30p apiece. The Aim-listed company said it would use the proceeds to provide working capital support to its... 

Shanta agrees to buy Canadian junior Helio; nearly doubles Tanzania resource base

20th June 2017 East Africa-focused gold miner Shanta Gold on Tuesday agreed to buy TSX-V-listed explorer Helio Resources in an all-scrip deal valued at about £3.5-million. The acquisition will give Shanta control of Helio’s assets located immediately next to its flagship New Luika gold mine (NLGM), which... 

Gold Fields opts for hedging amid commodity price volatility

20th June 2017 Given recent volatility in commodity prices and exchange rates, dual-listed Gold Fields has undertaken select hedging of the oil price and the Australian dollar gold price, the miner said on Tuesday. Gold Fields’ Australian dollar gold price hedge would comprise 165 000 oz at a floor price of A$1... 

Latest sales cycle earns De Beers $530m

20th June 2017 Diamond miner De Beers’ fifth sales cycle for the year generated revenue of $530-million. While this was up from the $522-million of diamonds sold in the fourth sales cycle, sales were lower than the $546-million earned in the fifth cycle in 2016. 

SAA to implement turnaround plan

20th June 2017 Cash-strapped South African Airways (SAA) has compiled a five-year business turnaround plan, aimed at improving its financial stability, it said on Tuesday. The national carrier is currently plagued by a weak balance sheet, with projected losses of R3.5-billion for 2016/17– a R 2-billion increase... 

Public Protector’s suggestions around SARB open Pandora’s box – Parsons

20th June 2017 Public Protector Busisiwe Mkhwebane’s proposal that the mandate of the South African Reserve Bank (SARB) be changed to be more transformation-led threatens to open a “Pandora's box” of additional risks for markets and rating agencies about the country, North West University School of Business and... 

Low sales, drought and mill downtime affect Mpact interim earnings

19th June 2017 JSE-listed packaging company Mpact’s results for the six months ending June 30 will be negatively impacted on by lower sales volumes in the paper- and plastics-converting businesses, lower domestic containerboard and cartonboard sales volumes and higher recovered paper costs. In addition, the... 

Misisi resources increased to 1.57Moz – Ortac

19th June 2017 An updated mineral resource estimate at the Misisi gold project, in the Democratic Republic of the Congo, has shown the project holds around 1.57-million ounces of gold. Aim-listed Ortac Resources holds an interest in the project through its shareholding in project owner Casa Mining. 

Rooibos Limited faces abuse of dominance charge

19th June 2017 South Africa’s largest rooibos producer Rooibos Limited has been referred to the Competition Tribunal for prosecution, for allegedly abusing its dominance and engaging in uncompetitive behaviour. Historically, rooibos tea processors obtained their supply from farmers through one-year supply... 

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