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Macedonia competition body approves Lynx takeover

By: Mariaan Webb     1st November 2017 The Macedonian Competition Commission has given its blessing for the $402.5-million reverse takeover of Lynx Resources by Aim-listed Central Asia Metals. Lynx owns the SASA mine, which is one of the operating largest zinc/lead/silver mines in Europe. Last year, the mine produced 22 515 t of zinc... 

Central Asia Metals to buy Lynx Resources for $402.5m

By: Anine Kilian     22nd September 2017 Aim-listed base metals miner Central Asia Metals will buy Bermuda-based Lynx Resources for $402.5-million. Lynx, which is owned by Bermuda-based fund Orion Co-Investments III and Swiss private equity firm Fusion Capital, owns the SASA zinc/lead mine in Macedonia. 

Mantos acquires Rio Tinto's shares in Mason Resources

By: Samantha Herbst     7th August 2017 Pursuant to a share purchase agreement with diversified mining major Rio Tinto subsidiary Rio Tinto Holdings, and Canadian mineral exploration and development company Turquoise Hill Resources, Bermuda-based Mantos Copper will acquire about 13-million shares in copper development company Mason... 

Pallinghurst secures additional acceptance of Gemfields takeover

By: Natasha Odendaal     19th June 2017 As Johannesburg- and Bermuda-listed Pallinghurst Resources continues its takeover bid of 47%-owned coloured gemstones producer Gemfields, the group has secured acceptances totalling over 61.25% of the existing issued share capital of Gemfields. In addition to Pallinghurst’s own 47.09% stake, or... 

Pallinghurst share price leaps on value unlock outline

By: Martin Creamer     19th May 2017 The share price of mining investment fund Pallinghurst leapt in Johannesburg after the company outlined its plans to swop its investment fund shawl for a diversified miner’s mantle, unlock value through full absorption of its coloured gemstone associate and target a possible listing of the... 

Lundin to weigh deals and dividends when Tenke sale closes

By: Bloomberg     16th November 2016 Lundin Mining will consider acquisitions and a regular dividend after it completes the sale of its stake in a giant copper and cobalt mine in the Democratic Republic of Congo, its chief executive officer said. “We’ll consider all viable alternatives of what to do with the cash when it comes in,... 

Roads Agency Limpopo board to continue turnaround strategy

By: Megan van Wyngaardt     8th November 2016 Limpopo Public Works, Roads and Infrastructure MEC Jerry Ndou has reappointed the Roads Agency Limpopo (RAL) board for another three years, providing it with a mandate to continue turning the agency around. Ndou expressed gratitude for the agency's “rapidly improving financial situation”, which... 

RAL to take action against incompetent, underperforming contractors 

By: Creamer Media Reporter      11th October 2016 Roads Agency Limpopo (RAL) on Tuesday vowed to take a hardline stance against contractors delivering substandard work. The agency will also target contractors that are unable to meet their contractual obligations. 

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Aquarius shareholders approve takeover by Sibanye

By: Natalie Greve     18th January 2016 Shareholders of Aquarius Platinum have approved a proposed deal that will see the company acquired by fellow miner Sibanye Gold for of $0.195 a share. The transaction, which would be implemented by way of an amalgamation under Bermuda law, needed to be approved by a simple majority of votes cast... 

Aquarius shareholders to vote on Sibanye deal in January

By: Natalie Greve     15th December 2015 Aquarius Platinum will this week distribute to shareholders information related to the proposed acquisition of Aquarius by Sibanye Gold for a cash consideration of $0.195 a share. The transaction, which was to be implemented by way of an amalgamation under Bermuda law, needed to be approved by a... 

Legal action looming over Marikana report

By: News24Wire      3rd June 2015 Legal action could be taken next week to force President Jacob Zuma to release the Farlam Commission of Inquiry's report, lawyer Dali Mpofu said on Tuesday. “Next week there is likely to be some litigation or a court case about the release of the report, which I’m going to be involved in,” he... 

Profit shifting report false – Lonmin

By: Sapa     16th October 2014 A report claiming Lonmin is engaging in two transfer pricing arrangements is misleading and false, the company said on Thursday. It was responding to a report titled "The Bermuda connection: Profit shifting and unaffordability at Lonmin 1999-2012", released by the Alternative Information and... 

In testing economic milieu, Till Capital sees more opportunity than risk

By: Henry Lazenby     14th October 2014 Despite not being “overnight-bullish” on the resources market, Bermuda-domiciled Till Capital has started an acquisitions phase driven by its hybrid investment strategy, rooted in the reinsurance business. This nontraditional approach has created a company with diversified investments, including... 

Lonmin denies allegations of tax evasion

By: Natalie Greve     23rd September 2014 Lonmin has vehemently denied allegations contained in recent media reports published by the Mail & Guardian and supported by the Alternative Information and Development Centre (AIDC) economist Dirk Forslund that the platinum producer had shifted profits to low-tax operations at which there was... 

Osiris becomes 100th company to list on AltX

By: Idéle Esterhuizen     20th August 2012 Bermuda-based Osiris Properties became the 100th company to list on the JSE’s alternative exchange (AltX) on Monday. It was a secondary listing for the company, which had its primary listing on the Bermuda Stock Exchange. 

Company Announcement: Cell C’s 99c tariff applicable to 34 countries from Sunday, 1 July 

     28th June 2012 Cell C’s 99c tariff will be extended to an additional 27 countries from Sunday 1 July, bringing the total number of countries to which Cell C customers can make calls at 99c per minute on per second billing at anytime, to 34 countries 

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