Mining lease granted for Butcherbird

ASX-listed Element 25 has been awarded a mining lease for its Butcherbird manganese project, in Western Australia, by the Department of Mines, Industry Regulation and Safety. “The grant of a mining lease at Butcherbird is a pivotal step in the development of this world class project and puts the company in a position to fast track the project towards commencement of production and cashflow,” said E25 MD Justin Brown.

Offtake on the cards at Butcherbird

ASX-listed OM Holdings has inked a non-binding memorandum of understanding (MoU) with fellow-listed Element 25 over the supply of manganese concentrate from the proposed Butcherbird manganese project, in Western Australia. Under the MoU, the two companies would negotiate a formal offtake agreement over the coming months as part of the development of the Butcherbird project.

Tshipi profitable throughout Covid lockdown – Jupiter

The Tshipi  Borwa manganese mine in South Africa’s Kalahari manganese field has remained profitable and cash positive throughout the Covid-19 lockdown, Sydney-listed Jupiter Mines stated on Wednesday. Overall mining at Tshipi Borwa, which continues to be in a favourable position owing to its low-cost production base, outperformed monthly planned targets, despite the challenges, Jupiter, which is headed by CEO Priyank Thapliyal, reported.

IDC committed to exploring all options to rescue Kalagadi Manganese

The Industrial Development Corporation (IDC) said on Tuesday that it remained fully committed to exploring all its options to protect the future of Kalagadi Manganese, which has opposed business rescue proceedings. IDC said it was important to note that Friday’s court decision on IDC’s business rescue application was based on the question of urgency. It stated that the merits of its application to place Kalagadi in business rescue had yet to be considered by the court, and it remained confident that a process would be put in place that protected the value of the mine and ensured its future. “Our application asserts that Kalagadi is unable to service its debt, namely R3-billion to IDC and R2.9-billion to the African Development Bank. Whether the company has funding to cover running costs is not sufficient, as we argued in our business rescue application,” IDC divisional executive strategy and corporate affairs David Jarvis said in a release to Mining Weekly.

Kalagadi Manganese welcomes court’s setting aside of business rescue application

Following the initiation by the Industrial Development Corporation (IDC) of business rescue proceedings against Kalagadi Manganese, the miner reports that it welcomes a court ruling that the application is not urgent. On May 29, the Johannesburg High Court struck the IDC’s application off the roll, saying it was not urgent and advised the parties to approach the commercial court for a special hearing.

Kalagadi Manganese welcomes court ruling

Following the initiation by the Industrial Development Corporation (IDC) of business rescue proceedings against Kalagadi Manganese, the miner reports that it welcomes a court ruling that the application is not urgent. On May 29, the Johannesburg High Court struck the IDC’s application off the roll, saying it was not urgent and advised the parties to approach the commercial court for a special hearing.

Manganese mine in strong position to weather uncertainties – Jupiter

The Tshipi Borwa manganese mine is in a strong position to weather the uncertainties ahead, as the world struggles, probably for years to come, to recover from the devastating economic consequences of the global lockdown, Jupiter Mines nonexecutive chairperson independent Brian Gilbertson said on Thursday. In releasing the Sydney-listed company’s 2020 annual report and audited financial statements for the financial year ended February 29, Gilbertson drew attention to the manganese mine’s scale of operations, low operating costs, lean overhead structure, and ungeared capital structure as being key strengths in these troubled times.

Manganese mine in strong position to weather uncertainties – Jupiter

The Tshipi Borwa manganese mine is in a strong position to weather the uncertainties ahead, as the world struggles, probably for years to come, to recover from the devastating economic consequences of the global lockdown, Jupiter Mines nonexecutive chairperson independent Brian Gilbertson said on Thursday. In releasing the Sydney-listed company’s 2020 annual report and audited financial statements for the financial year ended February 29, Gilbertson drew attention to the manganese mine’s scale of operations, low operating costs, lean overhead structure, and ungeared capital structure as being key strengths in these troubled times.

IDC confirms Kalagadi Manganese business rescue application

The Industrial Development Corporation (IDC) confirmed on Wednesday that it had initiated business rescue proceedings at Kalagadi Manganese (Pty) Ltd. The application, issued out of the Johannesburg High Court on April 29, saw IDC argue that Kalagadi Manganese urgently required the restructuring of its business and its liabilities, as well as a moratorium on debts and other liabilities.