Business

Australian company Celsius Resources intends to raise A$3.9-million to advance its Opuwo cobalt project. “This capital raising allows the company to be fully funded for the rapid advancement of the exciting Opuwo cobalt project over the next 12 months,” said Celsius Managing Durector Brendan Borg. The company has completed a …

Bell Equipment has signed an agreement with global excavator specialist – Kobelco Construction Machinery Co. Ltd (Kobelco), for exclusive distribution and support of the company’s excavators in the Southern African region. Stephen Jones, Bell Equipment Group Marketing Director said the partnership should provide both companies with the stability needed to …

Bell Equipment has announced intentions to enter Southern Africa’s tipper truck market through a partnership with KAMAZ, a Russian-based company. Synonymous with providing purpose designed trucks to the harshest applications, KAMAZ’s consistent strong performance in the challenging Dakar Rally is to spur, the company’s portfolio expansion. “After a long period …

De Beers’ rough diamond production for quarter three of 2017 increased 46 per cent to 9.2 million carats in line with the higher production forecast for 2017. According to the company, the development reflects stable trading conditions as well as the contribution from the ramp-up of Gahcho Kué in Canada. …

AIM-quoted diamond outfit, Firestone Diamonds’ latest diamond sale sold 195,330 carats for US$13.5 million. Firestone’s July and September 2017 diamond sale included the company’s second US$1 million stone, achieving an average value of US$69/ct. According to the company, the average realised value per carat represents the continued lower than expected …

Africa focused miner Lucara Diamond has sold the historic 1,109 carat Lesedi La Rona recovered from the Karowe mine in Botswana in November 2015. Lucara Diamond said the piece has been sold for US$53 million (US$47,777 per carat to Graff Diamonds. “We are thrilled and honoured to become the new …

Rio Tinto has committed an additional $2.5 billion to its ongoing share buy-back programme, returning the proceeds of the sale of Coal & Allied to its shareholders. The capital return programme will be executed through a combination of an off-market buy-back tender, targeting A$700 million (approximately $560 million) of Rio …

Although Namibia, Botswana and Mauritius have consistently ranked in the top 20 of the RMB Where to Invest in Africa index, their inability to reach the top 10 is mostly due to the restricted size of their domestic markets. South Africa has ranked in the number one position for six …

New York, diamond tycoon Maurice Tempelsman of Lazare Kaplan International (LKI) has expresses interest in Namibia’s offshore mining. “We are also looking at some mining projects offshore  and some banking things,” said Tempelsman after a business meeting with President Hage Geingob, adding that the mining exploration is still in its preliminary …

Weatherly has drawn down US$2 million from Orion Mine Finance to accelerate the building of the leach pads and to fund working capital requirements at Tschudi. The funds come from US$10 million uncommitted loan announced early this year. Weatherly says to ensure the loan would be sufficient to meet the necessary funding requirements the …