Anglo-American perceived as "the most likely of the diversified mining majors to go bust" even if it "goes down fighting".
Platinum Group Metals Mining News
Orion's Oskar Lewnowski: "For a long time, metals were driven by financial flows... With those guys out, we are back to fundamentals."
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.
While the law lets citizens mine, sell and own riches mined in space, it does not grant sovereignty, ownership, exclusive rights or jurisdiction over any celestial body.
Platinum remains at record discount to gold.
HSBC downgraded the company to 'reduce' from 'hold' and highlighted that Anglo's precarious cash flow situation may force it to cancel its dividend.
The move will allow the platinum miner to restructure its debt and, it hopes, weather an ongoing decline of platinum prices.
CHARTS: South Africans can't liquidate ETF holdings fast enough, sending platinum to fresh 7-year low and palladium down 20% within only two weeks.
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.
Until now, there was no legislature clarifying issues such as whether resources mined from celestial bodies could be sold on Earth.
Learn in today's infographic how the "Industrial Internet", or the convergence of the global industrial sector with big data and the internet of things, is ushering in a new age of efficiency in mining.
The company has priced its $407 million share sale at a discount of 94% as it fights for survival after a near-collapse in the commodity's price.
Consulting engineering company, SRK, raised the risk that South Africa's platinum firms may start to run short of water next year if the country's drought persisted.
With these agreements in place, the Company has initiated the second phase of its 2015 exploration drill program at Wellgreen and expects to undertake a comprehensive metallurgical testing program starting in Q1 2016.
The radical decision would make of the platinum producer the biggest casualty of the ongoing commodity rout that is hurting miners worldwide.
The world’s third-largest platinum producer is also planning layoffs, cutting capex and lowering unit costs.
At fifth plenum Beijing recommits to high economic growth rates, faster urbanization and indicates it's willing to step in to make it happen.
In 2011, during the peak of the so-called “mining boom”, the sector was worth nearly US$2.5 trillion.
This week Volkswagen stopped selling diesel vehicles in Europe while top producer Anglo American announced a 14% surge in output.
Commodity Sentiment Index shows it's always coldest before the dawn.
All you need to know about mining and metals and the role the sector plays in key industries of the global economy in one simple table.
Platinum price up 14% in two weeks gets further boost as Toyota unveils big push into fuel cell cars where PGM loadings are typically 7 times higher.
The National Union of Mineworkers (NUM) and the Chamber of Mines, which has been negotiating on behalf of the country’s main coal producers, will sign the agreement later today.
After the best week for commodity prices in more than three years, sentiment towards metals and mining may finally be turning.