South Africa

Top gold refinery missing 87,000oz

Frik Els | July 29, 2014
Top gold refinery missing 87,000oz

Rand Refinery blames software glitch for discrepancy between actual inventory and accounts. Owners, including Anglogold, provide new loan just to be safe.

China's war on pollution to push palladium higher still

Frik Els | July 29, 2014
China's pollution problem to push palladium higher still

China produces 20 million vehicles a year and has to double the average palladium load to catch up with US emissions standards.

Anglo American platinum names mines to be sold

Cecilia Jamasmie | July 21, 2014
Anglo American platinum names mines to be sold

The mines account for over half of the company's workforce but only a quarter of production.

Key mining houses look online to sell variety of assets

Clear Asset | July 17, 2014
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Exxaro, Harmony, Anglo, Diesel Power and SA Taxi will take a variety of assets to auction during late July. The assets will be sold via a leading online mining auctioneering platform.

Anglo American platinum production down 40% after S. Africa strike

Cecilia Jamasmie | July 17, 2014
Anglo American platinum production down 40% after S. Africa strike

Output from the rest of Anglo's diversified mining assets rose, but it wasn't enough to offset underperformance at its platinum mines.

Amplats expects severely lower profits after five-month strike

Cecilia Jamasmie | July 15, 2014
Amplats expects severely lower profits after five-month strike

The firm warned first-half profit may drop as much as 96%.

Cecilia Jamasmie

BHP sell-off could undo Billiton historic deal

Cecilia Jamasmie | July 13, 2014
BHP sell-off could undo Billiton historic deal

As BHP considers the sale of almost all of the businesses that Billiton brought to the 2001 merger deal, experts say the firm is likely to end up leaving London.

South African metal workers 'to escalate' strike

Cecilia Jamasmie | July 13, 2014
South African metal workers 'to escalate' strike

The National Union of Metalworkers in South Africa (NUMSA) has rejected the latest offer because it didn't include a double-digit wage increase for all three years.

Africa’s largest iron ore miner hit hard by weak prices

Cecilia Jamasmie | July 11, 2014
Africa’s largest iron ore miner hit hard by weak prices

While final results will be released on July 22, Kumba Iron Ore expects first-half profit to slide by as much as 19%.

Gold industry admits fix must be fixed

Jeffrey Richmond | July 7, 2014
wgc meets to fix london fix feat

Debate focused on modernizing or replacing century-old pricing process.

Top South African miners leave the World Gold Council

Cecilia Jamasmie | July 4, 2014
Top South African miners leave the World Gold Council

As members pay per ounce of metal produced, both companies said they had to look at the cost-benefits of staying in the organization.

KTI erects jumbo ice plant at Harmony’s Phakisa gold mine in 10 days

KTI-Plersch GmbH | July 2, 2014
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Structural steel for walkways, container supports pre-manufactured and delivered ahead of time.

Sibanye Gold mulling move into platinum industry by year-end

Cecilia Jamasmie | June 30, 2014
Sibanye Gold fine-tunes details for Anglo’s platinum assets buyout

South Africa’s top gold producer is said to be going ahead with plans to expand into the country’s platinum sector before the end of the year.

Anglo American goes ahead and puts platinum mines, other assets up for sale

Cecilia Jamasmie | June 30, 2014
Anglo American goes ahead and puts platinum mines, other assets up for sale

The firm is offloading some of its historic South African platinum mines as part of a $4bn sale of under-performing assets.

Strike is over but platinum, palladium prices have plenty upside

Frik Els | June 28, 2014
Strike is over but platinum, palladium prices have plenty upside

New report says risks to supply remain substantial.

Glencore appoints Canadian as its first ever female director

Cecilia Jamasmie | June 26, 2014
Glencore appoints Canadian as its first female director

Patrice Merrin, 65, is a veteran to the industry.

South African central bank chief forgoes salary hike

Reuters | June 25, 2014

Gill Marcus received a 0.4% pay rise this year, indicating that one of the most prominent opponents of excessive executive pay in Africa's most advanced economy practises what she preaches.

South Africa’s platinum miners to resume working

Cecilia Jamasmie | June 24, 2014
South Africa’s platinum miners to resume working

The three-year agreement ends the country's longest and costliest strike.

South African court rules gold miners not allowed to strike

Cecilia Jamasmie | June 23, 2014
South African court rules gold miners not allowed to strike

The union leading the five-month strike in the platinum sector take any industrial action affecting gold producers.

Platinum, palladium prices slide despite stalled strike deal

Frik Els | June 20, 2014
Platinum, palladium prices slide despite stalled strike deal

Palladium falls 2% while platinum retreats to pre-strike levels.

South Africa divided over controversial mineral law reforms

Cecilia Jamasmie | June 19, 2014
South Africa divided over controversial mineral law reforms

The country's ’s new mineral resources law, which is awaiting the President’s signature, faces growing opposition as the mines minister, industry and opposition seek review.

Anglo to sell platinum mines in South Africa next year— report

Cecilia Jamasmie | June 17, 2014
Anglo to sell platinum mines in South Africa next year— report

Deutsche Bank has put a $1.4 billion price tag on the operations.

South Africa teeters towards recession on labour dispute

The Northern Miner | June 15, 2014

The latest attempt to end South Africa’s 21-week platinum strike has failed, pushing the country towards a recession and increasing the odds the sector will be smaller and more mechanized when it eventually resumes operations.

Petra unveils largest-ever blue diamond found at Cullinan mine

Cecilia Jamasmie | June 13, 2014
Petra unveils largest-ever blue diamond found at Cullinan mine

The 122.52-carat blue diamond won't be sold before the end of Petra's current financial year on June 30.

Platinum, palladium prices tank on strike deal

Frik Els | June 12, 2014
Platinum, palladium prices tank on strike deal

Unions representing 70,000 workers and the three largest platinum mines in the world reach wage deal to end almost 5-month long strike.

Report: Thermal coal price forecasts too pessimistic

Frik Els | June 11, 2014
Report: Thermal coal price forecasts too pessimistic

Macquarie says sub-$65 unlikely because first Indonesian and then Australian producers will drop out of the market around these levels.

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