South Africa's National Union of Mineworkers (NUM) signed a three-year wage deal with AngloGold Ashanti, inking the same agreement that other unions reached with the company earlier in the week.
South Africa Mining News
South African withdrew its long-delayed draft legislation for the mining and petroleum industries and plans to come up with separate laws to govern the two.
The mining charter was introduced to redress the exclusion of black people in the mining sector under apartheid.
Sibanye and Lonmin said in a joint statement they remained fully committed to the deal, which is expected to close by the end of the year.
Ramaphosa revealed highlights of the plan at a Sept. 14 meeting and the full package should be announced at the Oct. 24 midterm budget.
Eskom said on Monday that it had fewer than 20 days of coal supplies at 10 of its 15 coal-fired power stations, posing a threat to national power supplies.
The transaction would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.
Three-year wage deal may inch the country's gold industry a closer to ending a standoff over pay.
Johan Dippenaar has held the top position since 2005, when Petra merged with Crown Diamonds.
In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.
Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount.
Implats is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider full-year loss.
South African miner Gold Fields Ltd aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240 million.
The railway line stretches up to 861 km (534 miles) from iron ore mines at Sishen in the Northern Cape to the Saldanha port in the Western Cape.
South32’s South Africa Energy Coal unit, the country’s third-biggest exporter of the fuel, was split into a standalone business earlier this year.
The mining industry is an integral contributor to the South African economy, especially in terms of employment.
After more than two decades of improving mine safety since the end of apartheid, South Africa’s progress has stalled with an increase in gold-mining deaths.
An agreement has been reached on separating laws for the country’s oil industry and dropping a bill to govern the two sectors.
Assore reported a 1.9 percent fall in annual profit on Thursday as a strong rand currency offset favourable commodity prices and higher sales.
Acacia — Tanzania's No.1 gold miner— will retain a net smelter return production royalty over the project, capped at $15 million.
Sibanye said in a statement that it would fund the tender offer from existing cash resources.
This is a rare move by De Beers, which is famous for requiring buyers to take what’s offered.
Lonmin has been the biggest casualty in South Africa's platinum mining industry.
Some in the industry see this move as a prelude to a potentially broader deal with bigger miner Anglo American.
South Africa plans to publish a final version of its new Mining Charter for implementation by November.