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Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa (LON:MWA) has told investors that non-executive director Ning Yat Hoi and China International Mining Group Corporation (CIMGC) have disposed of around half their shareholdings. In a stock market statement Mwana said that Ning and CIMGC had sold 81.4mln and 106.2mln shares respectively at a price of 1.8p per…

South Africa faces backlash over xenophobic attacks on migrant workers

South Africa faces backlash over xenophobic attacks on migrant workers

South Africa is facing a backlash from the rest of the continent over the targeting of immigrants in a wave of xenophobic violence. South African vehicles were pelted with stones in Mozambique on Friday and South African companies are reportedly being threatened with closure in Nigeria. Protests have been held…

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa (LON:MWA) made steady progress at its gold, nickel and diamond producing assets in the first quarter of 2015. At the Freda Rebecca gold mine in Zimbabwe, gold production increased quarter-on-quarter by 0.42% to 14,358 ounces, as the recovery rate increased to 83% from 78%. The need to work…

Caledonia Mining continues churning out dividends

Caledonia Mining continues churning out dividends

Caledonia Mining Corporation (LON:CMCL) continues to belie the reputation of AIM-listed mining companies by churning out the dividends. The Canadian company has declared its sixth quarterly dividend, worth 1.5 Canadian cents per share. The ex-dividend date will be April 16, 2015 and for those shareholders who still receive their divis…

Corruption remains an Achilles Heel for SSA despite improvements

Corruption remains an Achilles Heel for SSA despite improvements

Most African countries are still perceived to suffer from “endemic corruption,” according to an annual survey of perceptions of public sector corruption in nations across the world. The 2014 edition of the corruption survey, published by the campaign group Transparency International, says that five of the 10 countries of the…

Caledonia could triple money from Blanket expansion, external study suggests

Caledonia could triple money from Blanket expansion, external study suggests

Caledonia Mining’s plan to double output at its Blanket mine in Zimbabwe could pay back more than three times its cost, according to a new external study. Consultant Minxcon estimates a net present value for Blanket of US$147mln and an internal rate of return of 267% through the US$70mln expansion…