South Africa

Anglo American laying off up to 20% of its staff as investors press for further savings

Cecilia Jamasmie | July 2, 2015
Anglo American laying off up to 20% of its staff as investors press for further savings

Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.

South Africa’s gold workers 'unimpressed' with 13% pay rise offer

Cecilia Jamasmie | June 29, 2015
South Africa’s gold workers unimpressed with 13% pay rise offer

Gold producers offered above-inflation wages, which make up 55% of their mining costs in the country.

South African commission finds police to blame in Marikana deaths

Cecilia Jamasmie | June 25, 2015
South African commission finds police to blame in Marikana deaths

The commission into the deaths at Lonmin's Marikana platinum mine in August 2012 concluded the plan to quell the massive protest was “defective,” and shouldn't have been executed as such.

South African gold sector to table wage offer next week

Cecilia Jamasmie | June 24, 2015
South African gold sector to table wage offer next week

The companies, which bargain collectively under the country’s Chamber of Mines, are already battling low metal prices and mounting electricity costs amid power outages.

South Africa’s gold miners begin wage talks

Wall Street Journal Online | June 23, 2015

Unions are demanding as much as double workers’ current wages.

Amplats axing over 400 jobs in South Africa

Cecilia Jamasmie | June 23, 2015
Amplats axes over 400 jobs in South Africa

Anglo American’s platinum unit cited dark outlook for the sector as main reason for the cuts.

Biggest South Africa gold union says firms can raise pay 80%

Bloomberg | June 22, 2015

According to the National Union of Mineworkers, South Africa’s gold producers are able to afford an increase of more than 80 percent in the basic monthly pay of entry-level underground miners.

US regulator drops probe on Gold Fields’ South Deep BEE deal

Cecilia Jamasmie | June 22, 2015
US regulator drops probe on Gold Fields’ South Deep BEE deal

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.

Platinum, palladium prices pounded again

Frik Els | June 17, 2015
Platinum, palladium prices pounded again

Palladium enters bear market and platinum hits fresh six-and-a-half year low on worries over Greek debt crisis.

Congo mulls suspending Ivanhoe's Kamoa stake sale to Zijin

Cecilia Jamasmie | June 17, 2015
Congo mulls suspending Ivanhoe's Kamoa copper venture sale

It also plans to review the legal status of the joint venture, while it negotiates with Ivanhoe to raise its stake to 20% from the current 5% it holds.

Mining industry inertia will come at a price

Frik Els | June 16, 2015
Mining industry inertia will come at a price

PwC's John Gravelle on the mining industry's austerity drive, price realities and declining exploration spending.

Petra Diamonds shares fall on lower revenue warning

Cecilia Jamasmie | June 12, 2015
Petra Diamonds shares fall on lower revenue warning

The miner said smaller than expected diamonds at its Finsch and Cullinan mines in South Africa have sold at modest prices.

Lonmin shares collapse as Glencore completes stake divestment

Cecilia Jamasmie | June 11, 2015
Lonmin shares collapse as Glencore completes stake divestment

The move may create a group of sellers that want to dispose of their holding, or it could open the door to a buyer, according to analysts.

South32 mulls writing down stake in South African manganese venture

Cecilia Jamasmie | June 9, 2015
South32 mulls writing down stake in South African manganese venture

It may reduce the value of its 60% stake in the Samancor Manganese joint venture, as it keeps furnaces shut due to low prices for the commodity.

Trouble brewing in South Africa’s gold mining sector

Cecilia Jamasmie | June 8, 2015
Trouble brewing in South Africa’s gold mining sector

The country's radical Association of Mineworkers and Construction Union (Amcu) said it would begin a wildcat strike in the sector if its rival union and companies extend wage deal to its members.

AngloGold, Newmont in talks over sale of Colorado mine

Cecilia Jamasmie | June 2, 2015
AngloGold, Newmont in talks over sale of Colorado mine

The sale would be one of the largest of a U.S. gold mine since the price of the precious metal began falling in 2013.

How renewable energy in South Africa is quietly stealing a march on coal

The Guardian | June 1, 2015

The howling wind drives the turbines, their blades bent back from the force as they spin in the evening light and send electricity to local villages in South Africa’s Eastern Cape.

Harmony Gold to cut over 3,000 jobs, union asks Gov’t to intervene

Cecilia Jamasmie | May 29, 2015
Harmony Gold to cut over 3,000 jobs, union asks Gov’t to intervene

The company had warned it planned to restructure several of its mines, producing almost 25% of its gold, when it posted a third consecutive quarterly loss early May.

South Africa doesn’t have enough coal for power plants beyond 2016

Cecilia Jamasmie | May 27, 2015
South Africa doesn’t have enough coal for power plants beyond 2016

Main power utility, Eskom, is struggling to meet demand in a country that depends on coal to generate 85% of its electricity.

Cecilia Jamasmie

China’s Zijin inks deals with two Canadian firms on the same day

Cecilia Jamasmie | May 26, 2015
China’s Zijin grabs stake in two Canadian firms on the same day

Perhaps the most important aspect of today’s agreements is the fact that both aim to form long-term strategic partnerships to collaborate on further ventures, opening new markets for all the firms involved.

Zijin Mining, Gold Fields among final bidders for Barrick's Australian gold mine

Cecilia Jamasmie | May 22, 2015
Zijin Mining, Gold Fields among final bidders for Barrick's Australian gold mine

Analysts believe Cowal mine may be worth at least $400 million, and that Barrick would likely get as much as $1.1 billion from the sale of both, the New South Wales' mine and Papua New Guinea’s Porgera.

Coal of Africa gets the go ahead for its Makhado Project

Tavis Communications | May 19, 2015

The miner was granted a New Order Mining Right (“NOMR”) for its flagship Makhado hard coking and thermal coal project in South Africa's Limpopo Province.

'Skinny' South32 disappoints on debut

Frik Els | May 18, 2015
'Skinny' South32 disappoints on debut

Market valuation at lower end of expectations on worries over dearth of reserves. BHP stock falls 6%.

Platinum price at 6-week high on deficit predictions

Frik Els | May 18, 2015
Platinum price at 6-week high on deficit predictions

New report highlights falling mine supply outside of Southern Africa and increased jewelry demand from China.

S. Africa chamber of mines refutes Govt. data, says members meet black ownership targets

Cecilia Jamasmie | May 15, 2015
S. Africa chamber of mines refutes Govt. data, says members meet black ownership targets

Saying that just over 20% of miners had met the black economic empowerment criteria is to tun a blind eye to the progress members have made so far, claims the ming group.

SA gold miners face repeat of brutal 2014 platinum strike

Frik Els | May 13, 2015
SA gold miners face repeat of 2014's brutal platinum strike

The union that led 2014's bitter five-month strike in South Africa's platinum belt has brought the same demands – doubling of wages – to the gold sector.

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