Amid worst slump in over six years, ruling party of South Africa calls shaft closures and layoffs "unpatriotic" as unions gear up for another brutal fight.
“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”
This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.
The Arkyd 3 Reflight (A3R) will spent its three-month orbiting mission sending back data to a group of scientists based at the firm’s headquarters in Redmond, WA.
It would be the first time since 2009 that Anglo has to cut dividends.
"I think in general the investor who are interested in a development stage company tend to be the same group of investors. But if they are looking for that allocation in PGMs, they don't have many options to look at outside of South Africa or Russia. It means there are small group of companies who are our peers."
Data showing South African production up 88% in May from a year ago pushes platinum to levels last seen in 2008 while palladium falls to 2-and-a-half year low.
Billions wiped from mining sector as gold, silver prices fall and copper, iron ore prices plummet to 2009 levels amid Chinese stock market collapse.
Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.
Letter of intent signed with Orion Mine Finance
Palladium enters bear market and platinum hits fresh six-and-a-half year low on worries over Greek debt crisis.
PwC's John Gravelle on the mining industry's austerity drive, price realities and declining exploration spending.
The move may create a group of sellers that want to dispose of their holding, or it could open the door to a buyer, according to analysts.
One of the most frequent questions I get is regarding how and where asteroid mining will happen. As in golf, asteroid miners “will play it as it lays.”
I really don’t care if gold rises or falls, I just read the charts while some people get so emotionally attached.
Across history, human development has relied upon the finite resources available on Earth. But the moon – a seemingly barren rock – may actually be a treasure trove of rare resources vital to Earth’s future.
New report highlights falling mine supply outside of Southern Africa and increased jewelry demand from China.
The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.
The incident happened when South African police allegedly clashed with protesters near Atlatsa Resources’s Bokoni platinum mine.
Stillwater Mining Company TV Spot "Generations" With contract talks underway, Stillwater Mining is running a TV spot that the union says overstates their take home pay. At the 17 second spot, there is a graphic that shows average worker pay …
The Arkyd 3 Reflight (A3R) will spent three month in orbit trying to identify subsystems to explore and prospect for valuable resources on asteroids.
Quebec's $1 billion Capital Mines Hydrocarbures fund is close to buying equity stakes in mining projects outside iron ore worth as much as $200m a shot.
Until Mick Davis pulls the trigger on X2's $5.6 billion, wishful thinking and unhealthy skepticism will pervade talk around private equity and mining.
The greenback is increasingly viewed as a safe haven, and I expect it to go even higher in 2015.
I am always optimistic in my views and look for the best outcome but I am not blinded by it.
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