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Oil rises on tighter market, but doubts swirl on sustainability

By: Reuters     11th October 2017 Oil prices rose for a third day on Wednesday as Opec said the market was gradually tightening after years of oversupply, but the 2018 outlook was less certain. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $56.80 per barrel at 1129 GMT, up 19 cents. Brent... 

Exxaro concludes Inyanda sale to Burgh, Lurco

By: Megan van Wyngaardt     4th October 2016 The Competition Commission has approved the acquisition of the Inyanda colliery by a consortium comprising Burgh Group and Lurco Group from Exxaro. Burgh and Lurco will continue to use the Inyanda plant, situated in the eMalahleni district in Mpumalanga, for coal beneficiation and foresees the... 

Burgh Group, Vitol to acquire Tegeta’s stake in RBCT

By: Megan van Wyngaardt     16th September 2016 A consortium comprising investment company Burgh Group and energy group Vitol has agreed to acquire Optimum Coal Terminal (OCT) from Gupta-owned Tegeta for an undisclosed sum. OCT has a 7.61% shareholding in the Richards Bay Coal Terminal (RBCT).  

London Mining reaches record Q1 production

By: Idéle Esterhuizen     9th May 2013 Aim-listed London Mining achieved record production and sales volumes at its 100%-owned Marapa mine, in Sierra Leone, during the first quarter of its 2013 financial year, CEO Graeme Hossie reported on Thursday. Production at the operation during the quarter was 706 000 wet metric tons (wmt) of... 

Grindrod headline earnings up 22% in ‘healthy’ 2012 

By: Natalie Greve     27th February 2013 JSE-listed bulk handling and shipping group Grindrod boasted good growth in the majority of its business divisions for the year ended December 31, 2012, with attributable income up 61% to R853.3-million and headline earnings climbing 22% to 121.9c a share. During what CEO Alan Olivier described... 

Grindrod to sell 50% stake in marine fuel supplier

By: Irma Venter     13th April 2012 JSE-listed logistics and shipping group, Grindrod, has agreed to sell a 50% interest in Cockett Marine Oil (Cockett) to Vitol, the world’s largest independent energy trading business. 

London Mining now fully funded to expand Marampa – CEO

By: Henry Lazenby     29th March 2012 Aim-listed London is now fully funded to boost capacity at its Marampa iron-ore mine to five-million tons a year, CEO Graeme Hossie reported on Thursday. This comes as the miner signed a $45-million offtake-related prepayment loan agreement with global energy trading company Vitol. 

Beacon Hill says first coking coal shipment planned for mid-year

By: Mariaan Webb     28th March 2012 Aim-listed Beacon Hill expects to ship its first coking coal from the Minas Moatize mine, in Mozambique, by the middle of the year, chairperson Justin Lewis reported on Tuesday. The company started mining coking coal at the Upper Chipanga Pit this week and said it would seek to export some 100... 

CIC Energy sells C$10m stake to Vitol

By: Matthew Hill     27th March 2012 Shares in CIC Energy, hoping to build a coal mine and power station in Botswana, rose on Tuesday after the company agreed to sell a 9.1% stake to Geneva-based energy trader Vitol for C$10-million, or C$1.90 a share, representing a 79% premium to the company's closing price on the TSX the previous... 

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