HK investor backs Universal Coal
17th Jul 2012
JULY 17 – Hong Kong resources investor Ning Yat Hoi will inject about $A10M into Australian-based, South African-focused miner Universal Coal through a private placement that will result in it holding up to a 19.9% shareholding.
Power Origin Developments BVI, a special purpose vehicle set up by Ning, will invest in two tranches priced at a 12% premium to Universal’s 60-day value-weighted average price. Ning may nominate as a director on completion of the investment.
Universal says the investment equals almost 50% of its equity needs for the 70.5%-held Kangala thermal coal project in the Witbank coalfield in Mpumalanga province, 65km east of Johannesburg.
Also in the July 11 - 17, 2012 edition
- AFRICA
- Centamin bounces back
- Energetic junior cites Nigeria iron ore advantages
- ASIA DESK
- Philippines changes welcomed, but not by everyone
- Stock rally may follow Ito win
- EDUCATION
- Research, student numbers boost school’s growth outlook
- ENGINEERING
- Medal recognises process optimisation research
- EUROPE
- Here they go again
- Land ahoy!
- EXPLORATION
- Horseshoe investors look for more Fotios luck
- FROM THE CAPITAL
- Please, don’t just blame the Greeks
- GOLD
- Rubianna set to get on the map in De Grussa country
- INTERCEPTS
- $US2B Indon coal dispute escalates
- 28 escape NZ mine fire
- 5BT birthday present for Vale
- A1 maiden JORC resource in 1400 Zone
- ABG moves into Kenya
- Alacer postpones South Kalgoorlie expansion
- Alecto builds its African landholdings
- Andina closer to 300,000oz pa Chile gold project
- Anglo unveils new South African leadership team
- Aquarius hails Kroondal performance
- Arian milling dispute takes toll
- Ashmont opens bids for Colombian mines
- Atlanta accepts $US2M fine over mine water discharge
- AuRico cuts Ocampo mine forecast
- Australian arbitrator to hear seafloor mining dispute
- Avenue widens Brazilian tin exploration
- Azumah weighs stand-alone Ghana mine
- Bannerman gains Namibian uranium approval
- Benton edges closer to spin out
- BHP seeks a Mount Nimba buyer: report
- Big gold production jump for St Barbara
- Big Russian shuts S African steel/vanadium mills
- Big upgrade for Rosemount copper project
- Blackthorn raises $40M for African projects
- Blackwater gold resource upgrade
- Blowout no deterrent to FMG
- Burma goes looking for resource investment
- Cameron gold production closer
- Canberra clears Chinese coal bid
- Carrick exceeds 1Moz gold resources
- CEO stays on for Harmony restructure
- CICP produces first Shanba gold
- Colombian coal project wins approval
- Commodities price crunch stops Fox deal
- Community agreement secured for Picha
- Congress supports US permit changes
- Copper Fox wins funds for Schaft Creek study
- County Coal increases US coal holdings
- DeGrussa copper reserve revealed, production next year
- Development works slow GRC’s Mexican gold output
- Didipio gold/copper project costs up $35M
- Diploma wins Rio Tinto housing contract
- Drilling brings good news for MetroCoal
- Eastplats sticks with CRM revamp plan
- Egyptian group wins La Mancha auction
- Ema settles Mulga Rock litigation
- Endeavour to outline plans for new mines
- Excellon responds to disclosure breach allegations
- Exco gears itself for a royalty battle
- Falling sales, prices hit Freeport-McMoRan profits
- Fatality halts Unisel mine
- Final tick for Grange’s Southdown project
- First Majestic boosts Mexican silver production
- First silver poured at Wonawinta
- First Uranium tailings recovery project sold
- Forbes lifts profit on strong demand
- Foreign business alarm at permit delays
- Fortuna on track for a big year
- Glencore-Viterra tie up gets Canadian approval
- Glory granted approval for Sapes PEIS
- Gold Fields takes 100% of Talas project
- Golden Camel set for the toll way
- Good half underpins Rio confidence
- Grange works around pit slip
- Iron ore leads BHP to new records
- Jupiter cashes up for expansion
- Lincoln setback on Gum Flat mine plans
- London ramps up Marampa mine production
- Macarthur hit with shareholder law suit
- Magnesium co-products to add revenue at Wynard
- Maiden resource secures Segue’s 30% of Emang
- Matilda moves to Keysbrook design
- Meekatharra gold contracts executed
- Mixed bag for Anglo American quarter
- MMK opens giant Russian steel plant
- More resources on way for ZYL
- New Argentine laws cut silver production
- New MD to lead Philippines exploration
- New study underpins Latin’s Peruvian project
- Newcrest promotes projects leader
- Nord Gold going for the rest of High River
- Norseman ups capital raising to $25M
- Northern Star set for more Paulsens growth
- NovaGold/Barrick’s Donlin gold monster closer
- Ord River cuts costs with Xstrata deal
- PanTerra lines up Lagunas funding
- Perseus downgrades current half gold production
- Petmin set to expand Somkhele operations
- PhosAgro and Acron settle phosphate fight
- Pike River sale completed
- Placement funds Talga’s Swedish drilling
- Rambler makes first Ming copper sales
- RCR lifts profit forecast again
- REG tightens hold on Chinese rare earths plant
- Rio launches driverless truck fleet
- Rio layoffs at Clermont coal mine
- Rockdale remains on diamond expansion target
- Sandfire seals first copper concentrate sales deal
- Shaft damage to cut Palabora production
- Shaw seeks funds for Namibia project
- Silver Mines eyes Albion technology
- Sylvania drops PGM production guidance
- Tanami’s Groundrush shaping as 1.3Moz deposit
- Teck moves on Connemara prospects
- The battle to stop Congo blood minerals
- THEMAC study finds true value
- Thiess extends Lake Vermont tenure
- Tinkler back for another Whitehaven bid
- TNG goes hi-tech in copper search
- Vector wins Chinese backing for WA mine
- Wescoal gets Intibane colliery permit
- Western Areas reveals new nickel discovery
- Xstrata Alloy chief retires
- ISSUES
- Helping mining families
- MINING INTELLIGENCE
- Is there really a shortage of people?
- MINING IT
- Engineer fishes for answers to contrasting FMS use
- FMS deployment on the rise
- IT notebook: Micromine, Leica/Guardvant, MIPAC, ABB, Trolex
- PEOPLE
- People on the move: CSA Global, IMX Resources, BC Iron, MetroCoal
- Re-think required
- SOUTH AMERICA
- Twist in the plot takes junior deeper into Chile
- TECHNOLOGY
- CRCMining switches research focus to power
- Dust control expertise spreads to Asia, Africa
- VIEW FROM THE WEST END
- Taxing times
