David McKay

Johannesburg

Owner and Publisher at Miningmx

Writer and Editor at Freelance

Owner of Miningmx

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Articles

Omnia's BME can benefit from Trump disruption, says CEO

3 days ago | miningmx.com | David McKay

OMNIA Holdings’s international push will most likely define the term of Seelan Gobalsamy, who became CEO of the chemicals, agribusiness and mining explosives company nearly six years ago. Shares are 200% higher over that time. Growth has come from its explosives subsidiary BME, whose profit in the 2025 financial year could be the best yet for Omnia. The question is how long this can continue, especially given the threat posed by the administration of US President Donald Trump.
PTM restores empowerment stake with $1m share issue to HCI

3 days ago | miningmx.com | David McKay

PLATINUM Group Metals (PTM) is to issue 800,000 shares to its major shareholder Hosken Consolidated Investments Limited (HCI). The share issue, priced at $1.26 per share, will generate gross proceeds of $1m. This pricing represents a 3.1% premium to the company’s five-day volume weighted average trading price as of May 9. Upon completion, the transaction will restore HCI’s ownership stake to 26% in the company. The placement will be subject to a four-month and one-day trading restriction.
Lucara Diamond calls on emergency fund to remain liquid

3 days ago | miningmx.com | David McKay

PRESSURE is growing on Lucara Diamond which said it will draw on additional financing facilities to remain liquid. Commenting in notes to its first quarter results, the company’s CEO William Lamb said the firm’s lenders approved the drawdown of $28m from emergency funding account known as the cost overrun reserve account. The $61.7m Cora is supplied by Lucara’s largest shareholder Nemesia, which represents the Lundin Group.
Anglo appoints Tom McCulley has new technical director

3 days ago | miningmx.com | David McKay

ANGLO American said Tom McCulley would become its new technical director, following Matt Daley’s decision to pursue a senior executive role outside the company. Daley is to join South32 as deputy CEO from February next year before replacing the Australian firm’s current CEO Graham Kerr later in 2026. McCulley, who will retain his current responsibilities for Anglo American’s Crop Nutrients business, will continue serving as a member of the company’s executive leadership team, said Anglo American.
South32 appoints Anglo executive Matthew Daley to replace Kerr

3 days ago | miningmx.com | David McKay

SOUTH32 has appointed Matthew Daley, an Anglo American executive with extensive copper experience, as its new CEO to succeed Graham Kerr, who has led the company since its spin-off from BHP in 2015. The Perth-based diversified miner announced that Daley will join as deputy CEO in February before assuming the top position later in the year.
Caledonia lifts first quarter profit 500%

3 days ago | miningmx.com | David McKay

CALEDONIA Mining Corporation produced strong financial and operational results for the first quarter of 2025, with net profit surging nearly 500% year-on-year amid robust gold prices and increased production. The Zimbabwe-focused gold producer reported first quarter revenue of $56.2m, a 46% increase from the same period last year, while gross profit nearly doubled to $26.9m. Net profit attributable to shareholders reached $8.9m, a dramatic 493% increase compared to the first quarter of 2024.
AngloGold explores other avenues for returns after stellar Q1

6 days ago | miningmx.com | David McKay

ANGLOGOLD Ashanti would consider additional shareholder returns if the gold price remained at current levels for the remainder of the financial year. This was after a barnstorming performance in the first quarter in which the company increased free cash flow sevenfold owing to higher production and good control over cash costs, up only 4% year-on-year. The spark in the performance, however, was the gold market. AngloGold collected a staggering $800 more per ounce in revenue than a year ago.
Mantengu claims share price manipulation targeted PGM deal

6 days ago | miningmx.com | David McKay

MANTENGU Mining, a R171m chrome miner, today published incendiary allegations its share price had been manipulated and that the Johannesburg Stock Exchange (JSE) had turned a blind eye to its complaints as it was protecting an illegal trading syndicate. The JSE denies the allegation contained in a detailed affidavit which forms the basis of a formal criminal complaint, signed off by Mantengu CEO Mike Miller.
Sibanye-Stillwater marks promising turnaround as Q1 Ebitda surges

6 days ago | miningmx.com | David McKay

A SURGING gold price and restructuring efforts in its platinum group metal (PGM) mines powered Sibanye-Stillwater to a much improved first quarter. The precious metals miner reported on Friday adjusted Ebitda of R4.1bn, 86% higher than adjusted Ebitda in the first quarter of 2024 which came in at R2.17bn. The group’s gold mines comprised R1.16bn of the Ebitda improvement after the price received for Sibanye-Stillwater’s mines increased to R1.68m per kilogram, a year-on-year increase of 34%.
Mantengu cries foul on possible share price manipulation

1 week ago | miningmx.com | David McKay

MANTENGU Mining, a small cap chrome miner, warned shareholders its share may have been the victim of manipulation. In an announcement to the JSE it described a series of events regarding attempted trades with two shareholders who subsequently alerted Mantengu’s board. The company concluded one of two potential events may have occurred.