Silver miners hit hardest by lockdowns — report

MINING.com discusses the state of private equity investment in mining with Michael Scherb founder of Appian Capital.

Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, reflect on market factors that are driving current fluctuations in the gold price.

Key to closing the deal is Lonmin maintaining its net cash position and achieving certain production targets.

Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.

The World Platinum Investment Council sees oversupply in the platinum market of 180,000 ounces in 2018.

By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye’s were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).

The proposed deal with Sibanye is conditional upon Lonmin retaining a positive cash balance by the time it is to close in the second half of the year.

According to the miner, five other rescued employees remain in a stable condition and are making good progress.

The world’s second-largest platinum producer posted an ad on Friday in the local Mail & Guardian newspaper seeking tenders for the project.