TSX-V-listed Giyani Metals Corporation has launched a tender process to choose a professional mining contractor for reclamation work at the K.Hill and Otse manganese projects, in Botswana. Giyani has identified six professional mining and mineral processing contractors as potential candidates for the reclamation and processing work at both sites, after the Botswana Department of Environmental Affairs approved the company’s environmental management plans.
Manganese ore producer Tshipi é Ntle Manganese Mining, which operates the the Tshipi Borwa mine, in South Africa’s Northern Cape province, has resolved to pay a further dividend of R600-million to its shareholders, taking the total dividend for the first half of 2020 financial year to R1.7-billion. The increased dividend, which is higher than previously estimated, is mainly owing to additional low-grade product sold in the second quarter of the financial year and currency depreciation.
Aim-listed Keras Resources has raised £350 000 through the placing of 87.5-million ordinary shares of 0.1p each at a price of 0.4p a share. This is the company’s first capital raise since October 2017.
Diversified miner South32’s manganese production increased by 3% year-on-year to 5.5-million tonnes for the financial year ended June 30. In a teleconference on Thursday, the company indicated that, with manganese as a primary resource, South32 would explore opportunities where it could invest in infrastructure improvements and upgrades at its operations, to improve the pace and maximise output –investment that could demonstrate a strong capital return for the company.
A preliminary economic assessment (PEA), undertaken by consultants SRK Consulting, has shown a positive net present value (NPV) of $285-million for TSX-V- and Frankfurt-listed Giyani Metals' K.Hill manganese project, in Botswana. Giyani will have to invest about $141.3-million in capital expenditure on the project, which is expected to produce about 245 000 t of high-purity electrolytic manganese metal (HPEMM) over a nine-year operating life.
ASX-listed Gulf Manganese will acquire a 20% interest in privately-held Iron Fortune, an exploration company focused on Timor-Leste. Under the terms of the agreement, Gulf would pay an initial A$100 000 for exclusivity, while conducting a due diligence. On the completion f the due diligence, Gulf would pay a further A$200 000 and issue A$100 000 worth of shares to secure its 20% interest in Iron Fortune.
Canadian junior explorer Giyani Metals has received final approvals from the Botswana Department of Environmental Affairs (DEA) to implement environmental management plans (EMPs) at its K.Hill and Otse manganese projects. The final approval was granted after the customary one-month public review process, during which the TSX-V-listed company was required to advertise the details of the EMPs in the Government Gazette and local newspapers.
Aim-listed Premier African Minerals on Monday announced a strategic loan to MN Holdings (MNH), the owner and operator of the Otjozondu manganese mining project in Namibia, and the appointment of two key mining executives as consultants to Premier. Premier and Cambrian have jointly agreed to loan to MNH $1.35-million.
ASX-listed Gulf Manganese on Thursday saw a 20% increase in its share price after the acquisition of its first high-grade manganese mine in Timor, and securing direct shipping ore for export from Indonesia. The company has told shareholders that it had vended the Putra Indonesia Jaya high-grade manganese mine to its key Indonesian and Singaporean partners.
Aim-listed mineral resource company Keras Resources plans to distribute its shareholding in exploration company Calidus Resources to Keras shareholders in proportion to their holdings in Keras. The shareholding will be distributed through a capital reduction and demerger process, which requires the approval of shareholders in a special resolution at a general meeting to be held.