RIO - Exploring Mining Podcast: News from (NYSE: RIO) (NYSE American: GPL) (TSXV: ZON)
Point Roberts, WA and Delta, BC - December 31, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring Mining Podcast: News from (NYSE: RIO) (NYSE American: GPL) (TSXV: ZON)
Rio Tinto Group (NYSE:RIO) will be resuming operations at Richards Bay Minerals (RBM) in South Africa following discussion regarding community and environmental stability. Operations are expected to resume in early January with consequent production to follow in early 2020. Bold Baatar, chief executive, Energy & Minerals, commented:
"The safety and security of our people is always our first priority and we are pleased that we will now be able to get back to work creating value for our people, our communities, South Africa and RBM's shareholders.
I would like to thank the Government of South Africa and the Premier of KwaZulu-Natal for their support and assistance in getting us to a position where we can restart operations at RBM. I would also acknowledge the work of community leaders and the police over the previous few weeks."
Minera Mexicana el Rosario, S.A. (MMR), a wholly-owned subsidiary of Great Panther Mining Limited (NYSE American:GPL), has entered into a $10 million USD concentrate prepayment agreement with the Geneva, Switzerland-based IXM Group (IXM), described in the press release as "one of the world's largest physical metal traders". Jeffrey Mason, the compay's Interim President and CEO, said:
"We are pleased to be partnering with IXM in Mexico for our GMC concentrates over the next two years. Securing the sale of this off-take at competitive market terms, while strengthening our balance sheet with US$10 million at an attractive cost of capital, positions us well to achieve our strategic objectives as we move into 2020."
Zonte Metals Inc. (TSXV:ZON) has increased the size of its previously-announced non-brokered private placement from $1.25 million to $1.4 million consisting of 4,183,167 flow through shares at a price of $0.30 and 723,044 Units at a price of $0.23 for total proceeds of $1,421,250, subject to TSX Venture Exchange approval. According to the press release, "the Company intends to use the net proceeds of the Offering for exploration at Cross Hills Iron Oxide Copper Gold Property, in Newfoundland and Labrador and general corporate purposes".
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