Gemfields’ shares start trading on London’s Aim

JSE- and Botswana-listed Gemfields on Friday also started trading on the Aim market of the LSE. At the time of admission, the company’s total issued share capital consisted of 1.2-billion ordinary shares, of which 96-million were held by the company itself. “The Aim listing seeks to provide UK, European and international investors with more expedient entry into the precious coloured gemstone market, to improve share trading liquidity and to widen Gemfields’ current investor base,” said CEO Sean Gilbertson.

Indian jewellery market increasingly preferring platinum over traditional gold

Platinum Guild International’s (PGI’s) February 2020 Insight report shines a light on how marketing can leverage shifts in demographics and steer consumer behaviour to create demand across consumer segments in India. PGI reports that India has become the fastest growing platinum jewellery market globally, with demand having grown at a compound annual growth rate of 8% between 2013 and 2018.

Katoro hopes to sell subsidiary soon, continues to explore Tanzanian deposit

Aim-listed gold and nickel project developer Katoro Gold has been pursuing various project opportunities to benefit the company and advance what it says is a transformational phase for the company. Subject to funding being secured, the company’s tailings exploitation joint venture with South African gold producer Blyvoor offers significant revenues from future gold production.

Metal Tiger increases stake in Kalahari Metals

Aim-listed Metal Tiger plans to invest a further $1.5-million in Botswana-based Kalahari Metals (KML), which will increase its stake in the company to 62.2%. Additionally, Metal Tiger has been conditionally granted a 2% net smelter royalty over all of KML’s wholly-owned licences, which currently total seven licences covering 6 650 km2.

Commission finds in favour of Enaex, Sasol Explosives merger

The Competition Commission has unconditionally approved a proposed merger whereby international explosives distributor Enaex intends to acquire JSE-listed petrochemicals company Sasol’s Explosives business. Enaex commercialises, distributes and manufactures explosives and blasting agents. It provides logistics and technical advice in each of the processes to customers globally.

Seifsa, Minerals Council react positively to SoNA commitments

The mining and metals and engineering sectors have mostly welcomed President Cyril Ramaphosa’s plans around energy and infrastructure, following his State of the Nation Address (SoNA) on Thursday night. The Minerals Council South Africa said in a statement that it was encouraged by the President’s commitment to rapidly and significantly increasing electricity generation capacity outside of State-owned power utility Eskom.

Gem welcomes price improvements for large and smaller diamonds

London-listed Gem Diamonds says following pressure on prices for larger high-quality diamonds last year, signs of improvement have been noted since December. Diamond prices for smaller commercial-type diamonds also remained under pressure for most of last year, with polished inventory levels remaining high for the company, but Gem on Thursday noted that the prices of these goods had also improved in January and February.

PGM demand, prices likely to remain high this year

After resurgent demand pushed the platinum market into deficit in 2019, with the total volume of platinum under investment coming in at a record 3.4-million ounces at the start of this year, speciality chemicals company Johnson Matthey says the platinum market could move back into surplus this year unless investor appetites are sustained. Last year, more than one-million platinum ounces were added to exchange-traded fund holdings, outweighing a contraction in global industrial and automotive demand, as well as a double-digit drop in the Chinese platinum jewellery market.

Minerals Council calls for an end to SOE bailouts

Although President Cyril Ramaphosa is being buffeted by many perspectives from a range of constituencies, the Minerals Council South Africa says it is pleased that he signals clear direction and action on critical issues in the country. Thursday night’s State of the Nation Address and the National Budget speech on February 26 will provide powerful insight on whether South Africa is serious about addressing the economic and governance crises facing the country, the council states.

Silicosis settlement agreement now effective

A silicosis settlement reached between The Occupational Lung Disease Working Group and the Legal Resources Centre has become effective. The settlement followed almost five years of negotiations between the working group – representing miners African Rainbow Minerals, Anglo American South Africa, AngloGold Ashanti, Gold Fields, Harmony and Sibanye-Stillwater – and the centre, which represents the claimants.