South African miner reported lower production for the March quarter and flagged more challenges at its problematic South Deep mine on Wednesday, sending its share price sharply lower.
Gold Fields Ltd. Mining News
Gold Fields Ltd.’s local unit to dismiss more than 2,000 staff as it starts the process of hiring a contractor to operate its biggest mine.
The miner flagged headline earnings per share of $0.23 to $0.26 per share for the year ended Dec. 31, 2017.
The probe focused on a 2010 deal through which the company gave a 9% of its South Deep mine to a group of black investors in order to meet government’s regulations aimed to boost black ownership.
They will look at compensation and medical care for workers with occupational lung disease or "silicosis."
Harmony Gold, Sibanye Gold Ltd., and AngloGold Ashanti named among the top candidates to consider deals.
Gold Fields Ltd. (GFI) seeks to buy mines already in production to boost cash flow, said the South African producer of the metal with operations from Australia to Peru.
Body is trying to determine whether the black economic empowerment (BEE) deal helped Gold Fields to secure its mining license for the South Deep operation.
Workers for four of the seven companies affected by the labour action had accepted a new pay offer, believed to be about 8%
Shutdown in gold production costs the country more than US$34 million a day.
Gold sector workers to down tools from the nightshift of Sept. 3.
Decision follows an inspection that showed the company did not have all the necessary land permits.
Project review will consider options to boost shareholder value, without necessarily resulting in a transaction, the company said.
Ghana now accounts for about 42% of the company's gold output.
Mamphela Ramphele's resignation fuels local rumours indicating she is planning to create a new political party to challenge the ruling African National Congress (ANC).
The company warned Monday it would report lower production figures for the October-December quarter, mainly due to the strikes that hit its South African operations last year.
South Africa’s Gold Fields (NYSE:GFI) the world’s 4th largest miner, announced Thursday it would spin off two of its more troubled operation into a new company, Sibanye Gold.
South African miner Gold Fields (NYSE, JSE:GFI) revealed its initial plan to develop a gold deposit into an open-pit mine in southern Peru isn't feasible.
South African Mineral Resources Minister Susan Shabangu today warned mining companies against taking "unilateral action" and retrenching workers due to the costs of recent wage hikes for mining employees.
South Africa’s Anglo American Platinum (Amplats), the world’s largest platinum producer, has offered to reinstate 12,000 miners fired in early October for illegally striking and pay them a $230) “hardship allowance” if they return to work by Tuesday morning.
The South African National Union of Mineworkers and two other unions signed Thursday a deal with industry body the Chamber of Mines (CoM), agreeing to a new pay structure for the strike-hit gold mining sector.
AngloGold Ashanti Ltd. (NYSE:AU), South Africa's largest gold miner by output, said Wednesday it has began to dismiss about 12,000 of its striking workers, joining this way an increasing list of mining companies that have sacked workers in an effort to end crippling strikes.
Almost all the 15,000 Gold Fields Ltd. (NYSE, JSE:GFI) miners at risk of being fired for going on an illegal strike reported for duty, but striking workers at the company’s KDC East operations received a final ultimatum from the company Friday.
Village Main Reef Gold Mining Co. said today that striking workers at its Blyvoor mine have returned to work after having accepted a wage increase proposal from the company's management.
Gold Fields Ltd. (NYSE, JSE:GFI) said Tuesday it will dismiss all miners who fail to return to work by Thursday at its KDC West and Beatrix plants, as the company has lost over 65,000 ounces of gold production because of strikes at its South African operations.