The world's number five diversified miner posted its first annual net profit in five years.
Anglo American Platinum Mining News
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.
The miner reported broadly higher output in the fourth quarter across all divisions, except for copper, which suffered from lower grades and strikes.
Takeover would make of Sibanye Gold the world's third largest palladium producer and fourth biggest platinum group metals miner.
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.
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.
The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.
Shares plunged after miner revealed that output fell almost across the board in the April – June period.
Full voting results will be released on Friday.
The deal also proposes facilitating the sale of struggling mines.
FTSE 100 reweighting to take place in March.
The gold miner is expanding its portfolio to platinum, coal and uranium, as it also mulls an incursion in the base metals sector.
The company is said to be wanting to offload its Barro Alto nickel mine and the vast Minas-Rio iron ore complex.
The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.
The miner has finally completed the sale of assets from its Tarmac joint venture to a subsidiary of French engineering and construction group Bouygues.
The job cuts, part of a major overhaul, are far greater than the 53,000 positions the miner said it would cut in July.
One of the miner’s worst kept secret may be revealed as soon as Tuesday.
HSBC downgraded the company to 'reduce' from 'hold' and highlighted that Anglo's precarious cash flow situation may force it to cancel its dividend.
With the changes, Anglo’s chief Mark Cutifani is trying to turn around the company’s fortunes following years during which it has underperformed its peers.
Given that ousted minister Ramatlhodi is considered the main person that helped end a five-month strike in the country’s platinum sector last year, Zuma's decision is being questioned.
Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSX: ATL; JSE: ATL) advises that it, together with its joint venture partner, Anglo American Platinum Limited, has determined to implement a restructure plan at Bokoni Platinum Mine Proprietary Limited ("Bokoni Mine").
The move aims to reduce the gold producer's dependence on unreliable electricity supply from state-run utility Eskom Holdings.
The announcement comes only days after Anglo announced a $330m deal to sell lossmaking South African platinum mines to Sibanye Gold.
The deal involves an upfront payment of 1.5 billion rand, with a minimum deferred payment of 3 billion rand, equal to 35% of cash flow generated by the operation.
The companies are expected to make an official announcement on Wednesday.