South Africa

Sibanye confirms talks with Anglo over platinum mines for sale

Cecilia Jamasmie | September 3, 2015
Sibanye confirms talks with Anglo over platinum mines for sale

This the first time in over 15 months that Sibanye officially confirms its interest in Amplats’ Rustenburg assets.

South Africa seals mining jobs deal, proposes platinum plan

Reuters | August 31, 2015

South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs.

South Africa's mining industry to sign jobs pact – govt

Reuters | August 25, 2015

The country's mining ministry hopes to clinch a deal with mining companies and trade unions next week aimed at saving jobs.

Gold Fields offers $10k for new algorithm to classify gold ore

Cecilia Jamasmie | August 25, 2015
Gold Fields offers $10k for new algorithm to classify gold ore

The goal is to develop an image algorithm that can classify material in a gold mine as high, medium or low grade ore, or waste.

Anglo American sells copper mines in Chile to UK investment firm

Cecilia Jamasmie | August 24, 2015
Anglo American sells copper mines in Chile to UK investment firm

The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.

South32 survives mining sector slump, to cut $350m in costs until 2018

Cecilia Jamasmie | August 24, 2015
South32 survives mining sector slump, to cut $350m in costs until 2018

The company said is not keen on Rio Tinto's thermal coal assets, currently up for sale.

Glencore plans to shut Eland platinum mine in South Africa, union says

Cecilia Jamasmie | August 18, 2015
Glencore plans to shut Eland platinum mine in South Africa, union says

The company had said in June it lacked the inside edge to make owning the precious metal worthwhile.

South Africa’s platinum miners start over

Wall Street Journal Online | August 13, 2015

Companies turn to shallow, highly mechanized new mines to keep costs low.

South Africa’s Zuma asks mining companies to limit job cuts

Bloomberg | August 9, 2015

South Africa President Jacob Zuma asked mining and steel companies to limit job cuts as falling commodity prices put profits at risk.

British investment fund to buy Anglo’s mines in Chile

Cecilia Jamasmie | August 9, 2015
British investment fund to buy Anglo’s mines in Chile

According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.

Aluminium-Intensive XE is most fuel efficient Jaguar ever

Jaguar | August 9, 2015
J2

The innovative new Jaguar XE is the only car in the class to use an aluminium-intensive monocoque, with lightweight aluminium accounting for 75% of the structure.

South Africa’s main gold union snubs final pay offer

Cecilia Jamasmie | August 7, 2015
South Africa’s main gold union snubs final pay offer

Talks are set to resume on Wednesday, Aug. 12.

South Africa lets Glencore resume operations at Optimum coal mine

Cecilia Jamasmie | August 7, 2015
South Africa lets Glencore resume operations at Optimum coal mine

Mining Minister Ngoako Ramatlhodi has decided to conditionally withdrew a licence suspension ordered earlier this week.

South African union rejects 13% pay hike; president threatens strike

Andrew Topf | August 2, 2015
South Africa’s main union rejects gold firms wage offer

The union representing about a third of nearly 100,000 gold miners in South African labour talks, has rejected an offer of a 13-percent pay rise.

Wage negotiations in S. Africa’s gold sector to end next week

Cecilia Jamasmie | July 31, 2015

South Africa’s top gold producers believe it is highly likely that unions agree to take the latest pay offer presented to them, marking the end of almost 5 weeks of negotiations.

Platinum price: New round of industrial action

Frik Els | July 30, 2015
Platinum price: New round of industrial action

Amid worst slump in over six years, ruling party of South Africa calls shaft closures and layoffs "unpatriotic" as unions gear up for another brutal fight.

The cheapest entry point into cheap gold

Frik Els | July 29, 2015
The cheapest entry point into cheap gold

Wall Street legend Jim Grant says it's a Krugerrand and he's "very bullish indeed" on the gold price.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

Cecilia Jamasmie | July 24, 2015
Anglo American to axe 53,000 jobs, put 15 assets up for sale

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Glencore to slash 380 coal jobs in South Africa

Cecilia Jamasmie | July 22, 2015
Glencore to slash 380 coal jobs in South Africa

It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.

Kumba grapples with double whammy

Business Report | July 21, 2015

Kumba Iron Ore’s board has put a halt to paying a dividend in the half year to June and has moved to overhaul its operations as it grapples with a double whammy of tumbling iron ore prices and rising costs.

Anglo American to write down up to $4bn on weak commodity prices

Cecilia Jamasmie | July 16, 2015
Anglo American to write down up to $4bn on weak commodity prices

This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.

Graham Briggs to retire as the CEO of Harmony Gold

Cecilia Jamasmie | July 16, 2015
Graham Briggs to retire as the CEO of Harmony Gold

A geologist by training, the 62 year old executive has been with the company for 20 years.

Anglo American likely to cut dividend amid commodities collapse

Cecilia Jamasmie | July 15, 2015
Anglo American likely to cut dividend amid commodities collapse

It would be the first time since 2009 that Anglo has to cut dividends.

Platinum, palladium price drop accelerates

Frik Els | July 9, 2015
Platinum, palladium price drop accelerates

Data showing South African production up 88% in May from a year ago pushes platinum to levels last seen in 2008 while palladium falls to 2-and-a-half year low.

S. Africa campaigners jump all over Marikana killings report

Cecilia Jamasmie | July 8, 2015
S. Africa campaigners jump all over Marikana killings report

They claim the official report on the police killing of 34 striking miners in 2012 is a "gross defamation" of those who died.

South Africa’s main union rejects gold firms wage offer

Cecilia Jamasmie | July 6, 2015
South Africa’s main union rejects gold firms wage offer

Companies are keen to avoid a repeat of last year’s five-month platinum strike, but their ability to raise salaries is limited.

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