Anglo American Platinum Mining News

Amplats warns H1 profits to fall on impairments, rand

South Africa's Anglo American Platinum (Amplats) expects half-year profits to fall by as much as 67 percent due to a stronger rand, lower sales and post-tax impairments, the company said on Tuesday.

South Africa halts new black ownership rules for mines

The suspension follows a pending a judgement in an urgent interdict application by the country's Chamber of Mines.

More than 1,500 workers fired at Sibanye’s Cooke mine over strike

Workers at the mine downed tools over a week ago, angered by the company’s actions to eradicate illegal miners from its operations.

South Africa just hiked black ownership rules, miners getting crushed

The country will require local miners to be 30% black-owned and has set a 12-month deadline for them to comply with the new rules.

Anglo American appoints takeovers expert as new chairman

Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.

Sibanye Gold investors OK $2.2bn acquisition of Stillwater

Shareholders voted overwhelmingly in favour of the cash takeover, which will make the South African firm the world's No.3 palladium producer and No.4 platinum group metals miner.

More iron ore comes to the market as Anglo’s output soars in Q1

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

Anglo American not selling assets any more as it returns to profit

The world's number five diversified miner posted its first annual net profit in five years.

South Africa blames AngloGold, Sibanye of refusing to comply with safety laws

Mines minister Mosebenzi Zwane noted that 19 of the 73 miners who died in South Africa last year lost their lives at operations run by those companies.

Copper takes some shine off Anglo American’s results

The miner reported broadly higher output in the fourth quarter across all divisions, except for copper, which suffered from lower grades and strikes.

Sibanye $2.2bn acquisition of Stillwater passes antitrust conditions

Takeover would make of Sibanye Gold the world's third largest palladium producer and fourth biggest platinum group metals miner.

Sibanye Gold expands platinum assets by buying Stillwater in $2.2bn deal

Together with reducing Sibanye’s dependence on its aging South African assets, the deal will make the company the world's third largest palladium producer, the company said.

Anglo Platinum sells resources to Northam Platinum for $72 million

The company remains confident the sale of its Rustenburg mines in South Africa to Sibanye Gold will clear its last regulatory hurdle before the end of the year.

Anglo American narrows debt despite posting steep first-half loss

The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.

Heavy snowfall in Chile forces Anglo to cut annual copper target

Shares plunged after miner revealed that output fell almost across the board in the April – June period.

Anglo shareholders revolt against Cutifani’s $4.9 million pay

Full voting results will be released on Friday.

South African government, mining firms agree to delay 16,000 job cuts

The deal also proposes facilitating the sale of struggling mines.

Anglo American risks eviction from FTSE 100

FTSE 100 reweighting to take place in March.

Sibanye Gold shopping for new mines, possibly including base metals

The gold miner is expanding its portfolio to platinum, coal and uranium, as it also mulls an incursion in the base metals sector.

Anglo American may fully exit Brazil — report

The company is said to be wanting to offload its Barro Alto nickel mine and the vast Minas-Rio iron ore complex.

Anglo American shares rally on iron ore output hike, cost-cutting measures

The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.

Anglo American officially out of the Middle East

The miner has finally completed the sale of assets from its Tarmac joint venture to a subsidiary of French engineering and construction group Bouygues.

Anglo American to cut 85,000 jobs, dividend and assets in sweeping restructuring

The job cuts, part of a major overhaul, are far greater than the 53,000 positions the miner said it would cut in July.

Anglo American set to announce dividend cut next week

One of the miner’s worst kept secret may be revealed as soon as Tuesday.

Anglo American shares close at lowest in 16 years on HSBC note

HSBC downgraded the company to 'reduce' from 'hold' and highlighted that Anglo's precarious cash flow situation may force it to cancel its dividend.