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Gazprombank Enters Option Agreement with Mechel to Acquire 49% of Elga Coal Project, Russia
April 6, 2016
Mechel PAO has signed an agreement on offering Gazprombank AO the option to purchase 49 percent share in the Elga coking coal deposit development project for 34.3 billion rubles. According to the agreement, Mechel is due to sell to Gazprombank
Tango Mining to Acquire Firestone’s Kimberlite Diamond Mine for $30 Million, Botswana
April 6, 2016
British Columbia-based Tango Mining Limited announced that it has entered into a proposed $30 million loan commitment with Vandebilt Commercial Lending Inc. for the acquisition of the BK11 Kimberlite Diamond Mine. The BK11 mine is a kimberlite pipe with a
Kaizen Discovery Arranges C$2.5M in Exploration Financing for Pinaya Copper-Gold Project, Peru
April 6, 2016
Kaizen Discovery Inc. has entered into a strategic financing agreement with ITOCHU Corporation of Japan to advance Kaizen’s exploration efforts at its Pinaya Copper-Gold Project in southeastern Peru. Under the terms of the agreement, ITOCHU will provide Kaizen with up
Stellar Diamonds to Focus on Funding and Development of Its Tongo Project, Sierra Leone
April 6, 2016
Stellar Diamonds PLC will be focused on moving the Tongo project in Sierra Leone into funding and development this year, it said, as it posted half year results. It’s been a busy period with the mining license for the 1.45mln-carat
Alsons Power Advances to Construction Phase for Its Sarangani Coal Plant Expansion, Philippines
April 6, 2016
Two foreign groups — Korean firm Hyundai Engineering and Japan Gas Corporation with Toshiba Corporation – are eyeing to corner the engineering, procurement and construction (EPC) contract of the 105-megawatt (MW) expansion of the Sarangani coal-fired power plant of the
Rio Tinto’s CEO Looks to Invest More in Copper Sector
April 6, 2016
Rio Tinto plc has recently expressed its interest to invest in copper rather than iron ore, in an attempt to steer the company out of the commodity crisis. Rio Tinto’s current CEO Sam Walsh said that the company would expand
India’s Environment Ministry Panel Defers Decision on JPVL’s Coal Mine Project
April 6, 2016
An Environment Ministry panel has deferred a decision on granting approval to expansion of a coal mining project owned by Jaiprakash Power Venture in Madhya Pradesh. Jaiprakash Power Venture (JPVL) has sought green clearance for expansion of Amelia (North) Opencast
South Africa’s Gold Fields Ghana Deal May Safeguard 2,000 Mining Jobs
April 6, 2016
South Africa’s Gold Fields Ltd has finalized a tax and royalties agreement with the government of Ghana which could safeguard its Damang mine, where around 2,000 jobs would be at risk if it is placed under care and maintenance. The
India’s Environment Ministry Panel Gives Green Clearance to CIL’s Coal Project in Jharkhand
April 6, 2016
An environment ministry panel has recommended green clearance with some riders to state-owned CIL’s coal mining project in Jharkhand. Central Coalfields Ltd (CCL), an arm of CIL, was seeking green clearance for expansion of Ashok open cast project (OCP) in
SEMAFO Signs $120 Million Credit Facility for Construction of Natougou Gold Project, Burkina Faso
March 31, 2016
SEMAFO Inc. has executed a $120 million credit facility with Macquarie Bank Limited for construction of the Natougou project located in Burkina Faso. The facility is repayable in quarterly repayments of $15 million, from first quarter of 2019 to fourth
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