Along with other changes, Zarina Bassa has informed Kumba of her intention to step down as an independent non- executive director at the Company’s forthcoming AGM on 11 May 2017, after serving eight years.
Anglo American Mining News
It has acquired the 50% interest French luxury goods group LVMH had in De Beers Diamond Jewellers for an undisclosed amount.
The Russian miner said profit attributable to shareholders totalled $2.25 billion (131.39bn roubles) last year, versus $530K (30.67bn) roubles in 2015.
Anglo American today published its 16th annual Sustainability Report, entitled ‘Delivering Change, Building Resilience, Working in Partnership’.
Gahcho Kué, owned by De Beers Canada and Mountain Province Diamonds, is expected to produce around 54 million carats of rough gems over its 12-year lifetime.
The miner reported a 25% fall in diamond sales during the second cycle of the year, compared with the traditionally stronger first cycle, in line with its expectations.
The world's number five diversified miner posted its first annual net profit in five years.
Forevermark, the diamond brand from The De Beers Group of Companies, today announced it has passed 2,000 retail doors globally, following the opening of the Zen Diamond Anatolium store in the city of Bursa in Turkey. The milestone consolidates Forevermark’s position as one of the world’s fastest-growing diamond brands.
The Anglo American's unit logged earnings of $607 million for 2016, basically double the $304 million it recorded in 2015.
Until 2014 Thabazimbi was a captive mine owned and run by SIOC, but supplying ore exclusively to and funded by AMSA.
While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.
The world's top diamond producer by output in carats fetched $358 million in rough gems and $7.28 million in polished rocks last month.
The 67.87-carat gem quality octahedron diamond, unearthed during production ramp-up, is the largest of its kind recovered to date at the remote mine.
The miner, Africa's largest iron ore producer, will pay R2.5 billion, considerably less than the original R6.5 billion it had been asked to cough up.
Chile closes ports servicing some of the world's biggest copper mines due to rough seas while Escondida strike looms.
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.
The company, Africa's largest iron ore producer, expects profits to more than double this year on the back of higher iron ore prices and a weak rand.
INTERACTIVE MAP: Together reserves at the global top 10 copper mining projects are worth more than $360 billion.
The world's top diamond producer sold $720 million of rough gems at its January offering as retailers restocked after the holidays.
Takeover would make of Sibanye Gold the world's third largest palladium producer and fourth biggest platinum group metals miner.
The company plans to invest a $308 million (R$1 billion) this year to allow the iron ore mine reach a 26.5 million tonnes a year capacity.
The diamond producer by value sold $418 million of gems in its 10th cycle, compared with $476 million at its previous offering, which shows demand has slowed since India's withdrawal of high-value bills.
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.
While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.