Business

Uranium miner Paladin Energy has warned shareholders of a delay in the completion of the sale of a 24% interest in the Langer Heinrich mine, in Namibia, to a Chinese company. The dual-listed firm is selling a 24% interest in Langer Heinrich to CNNC Overseas Uranium Holdings and up to …

Global copper markets will be oversupplied for at least two years, executives at some of the world’s major producers of the metal and traders said recently, casting doubt on the chances of a prolonged rally in prices. That tempered assessment of the market at an industry conference in Shanghai came …

South Africa’s historically successful mining industry has crowded out the search and discovery of potential new mines, leaving in its wake a lack of sufficient exploration investment to seek out new orebodies. South Africa is not investing in its geological potential as much as it should be and risks falling …

The Ministry of Mines and Energy this week announced that fuel pump prices for November 2016 will remain unchanged. According to the Minister of Mines and Energy, Obeth Kandjoze, the average price per refined barrel of oil in Singapore, Kuwait and Italy, from where Namibia sources petroleum products, were US$61 …

Bannerman Resources, which has plans to develop the Etango uranium project in the Erongo Region, has engaged Rand Merchant Bank to undertake a process to identify local investors and broad-based beneficiaries to meet the 5% Namibian equity ownership requirement, the company said in a report posted on the Namibian Stock …

Next Graphite announced this week that its joint-venture partner locked in a disclosed producer for the supply of an initial 5,000 tonnes of graphite, subject to receiving a full mining license, an application for which will be submitted in early 2017. The supply agreement expands upon the Letter of Intent …

South Africa-based condition monitoring company, WearCheck has opened two more cross-border laboratories recently bringing to thirteen the number of laboratories operated by the company, in nine countries. The recent addition to their operations is an on-site condition monitoring laboratory at the Husab Uranium Project. Swakop Uranium, the owners of the …

Rising mining production and cutbacks on nonessential spending will see Namibia’s fiscal deficit narrow in the coming months, says BMI Research, which is part of Fitch Group. BMI points out in a new report that Namibia’s fiscal balance will begin to narrow over 2017, after widening substantially this year, on …

Aim-listed Gemfields’ latest auction of emerald and amethyst has netted revenue of $11.1-million. The auction, held in Jaipur, India, from September 26 to 29, included commercial-quality rough emerald extracted at Gemfields’ 75%-owned Kagem mine, in Zambia, and higher-quality amethyst mined by Gemfields’ 50%-owned subsidiary Kariba Minerals in Zambia. Of the …

Vale has agreed to new terms for the sale of stakes in a coal mine and railway project in Mozambique to shareholder Mitsui & Co, in a deal that will raise $768-million and could help Vale free up to $2.7-billion in funding commitments for both projects. The sale of Vale’s …