Mining in the Mapungubwe area

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iNdlovu
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Re: Mining in the Mapungubwe area

Post by iNdlovu » Thu Dec 13, 2012 11:21 pm

The ANC are having their big conference at a place called Magaung Lis. This conference is their big shake up. The SA voters are fed up, the party itself has all kinds of in fighting going on and they seem to be in a bit of disarray, so who knows what will happen.
Man was placed in charge and given the duty of caring for all creation, are we doing it?

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Sprocky
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Re: Mining in the Mapungubwe area

Post by Sprocky » Fri Dec 14, 2012 7:34 am

Mangaung is better known to us civilised folk as Bloemfontein.
Sometimes it’s not until you don’t see what you want to see, that you truly open your eyes.

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Penga Ndlovu
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Re: Mining in the Mapungubwe area

Post by Penga Ndlovu » Fri Dec 14, 2012 9:54 am

Aha
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Living in the bush is a luxury that only a few have"

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Toko
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Re: Mining in the Mapungubwe area

Post by Toko » Thu Jan 10, 2013 2:29 pm

O/ Further developments at the Vele Colliery on the cards :evil:

Chinese deal boosts CoAL growth plans

Chinese deal boosts CoAL growth plans
BY MONDE MAOTO, JANUAR 10 2013, 07:48

COAL of Africa’s (CoAL’s) plans to develop metallurgical coal mines in Limpopo came closer to realisation on Wednesday after Chinese authorities granted regulatory approval for a $100m investment by Beijing Haohua Energy Resources.

The deal will see the Chinese company acquire 23.6% of CoAL for £0.25 a share. The announcement sent CoAL’s share price up as much as 10.7% to an intraday high of R3.10 on Wednesday. It closed 3.93% higher at R2.91.

Local steel producers ArcelorMittal and Evraz Highveld Steel and Vanadium have traditionally shipped the metallurgical coal they need from Australia because of a lack of rail infrastructure to the regions where the mineral could be mined domestically.

On Monday, CoAL announced that it has appointed Dutch commodities trader Vitol as the exclusive agent for most of its thermal and coking coal for the next eight years. As part of the agreement, the miner will now have access to the Terminal de Carvao da Matola in Maputo, Mozambique, without having to finance part of its construction.

CoAL plans to use the proceeds from Beijing Haohua’s investment to finance further developments at the Vele Colliery, its thermal and metallurgical coal mine close to the Mapungubwe World Heritage Site.

It aims to produce 7-million tons run-of-mine coal a year, of which 1-million tons is coking coal, after it completes the project’s first phase, which is under way.

In a notice issued to shareholders, the miner announced that in addition to developing Vele, it further intended to fund the capital requirements at its other operations.

CoAL CEO John Wallington said funding for the development of the Makhado coking coal project would be done separately from the Beijing Haohua deal. "We will still have to finalise the funding for Makhado once it is approved, and this capital could be raised through various means," Mr Wallington said.

The approval, received from the office of the Beijing Municipal Commission of Development and Reform, is valid for two years.

CoAL has already received $20m of the investment.

Shareholders will vote on January 25 for the conditional placement of shares for the remaining $80m as part of the second phase of the deal.

According to a company spokesman, the deal needs to obtain at least 50% approval of those present and voting at the extraordinary general meeting.

Last year was difficult for CoAL as lower export thermal coal prices and labour unrest prompted the miner to adopt cost-cutting measures at its Mooiplaats thermal coal operation. The mine is now under review.

Although a sale of the mine has not been ruled out, Mr Wallington said the process of evaluating the operations was still under way. The options being considered included the possibility of forming a partnership with its neighbouring operations.

Mr Wallington said that he expected another tough year for commodity prices.

"Although we were hoping for a correction, we envisage the coming six months to be difficult for commodity prices," he said.

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Flutterby
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Re: Mining in the Mapungubwe area

Post by Flutterby » Thu Jan 10, 2013 4:00 pm

0*\

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Mel
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Re: Mining in the Mapungubwe area

Post by Mel » Thu Jan 10, 2013 5:23 pm

Same, Flutts... (0)

But let's face it - we are well developped and more or less conduct/ed the same exploition
to reach the status we got and the Chinese are trying to catch up now. :O^
God put me on earth to accomplish a certain amount of things. Right now I'm so far behind that I'll never die.

iNdlovu
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Re: Mining in the Mapungubwe area

Post by iNdlovu » Thu Jan 10, 2013 6:12 pm

China, the latest colonial power in Africa, I shudder to think what this country will end up giving away to China over the next while.
Man was placed in charge and given the duty of caring for all creation, are we doing it?

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Sprocky
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Re: Mining in the Mapungubwe area

Post by Sprocky » Thu Jan 10, 2013 6:17 pm

Here in Phala, a Chinese company has bought out Rio Tinto's share of PMC. :-?
Sometimes it’s not until you don’t see what you want to see, that you truly open your eyes.

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Flutterby
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Re: Mining in the Mapungubwe area

Post by Flutterby » Fri Jan 11, 2013 8:07 am

They are taking over the whole continent!! :shock:

Image

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Toko
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Re: Mining in the Mapungubwe area

Post by Toko » Fri Jan 11, 2013 2:23 pm

And there is still no information about the possible unauthorised water use activities O/ O/ O/

I can not find anything -O-

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