Thursday, June 21, 2018

ArcelorMittal has finalised details of a spin-off of its stainless steel division, which may spark consolidation in a sector burdened by over-capacity.

ArcelorMittal plans to list its stainless steel division in the first quarter of next year, according to a report.

Xstrata has never been approached by its biggest shareholder, Glencore, with a merger proposal, says CEO Mick Davis.

Hundreds of workers at BHP Billiton's aluminium smelter in Richards Bay have gone on strike, demanding better wages and changes in work conditions, a union official says.

Police have arrested 358 illegal miners at Aurora Empowerment System's Grootvlei mine after a shootout at an abandoned shaft.

Hundreds of illegal miners have been arrested at the Aurora Grootvlei Mine in Springs, police say.

Xstrata plans to increase spending on new mines by about 50% next year to $6.8bn as the mining group keeps its main focus on organic growth rather than acquisitions.

Rio Tinto has made a $3.5bn bid approach for Africa-focused Riversdale Mining, sending the target firm's shares surging 16% and setting up a potential takeover battle.

Anglo American has completed the sale of its Skorpion zinc mine to Vedanta Resources.

South African gold mines are the most popular JSE-listed companies in which foreign investors are holding stakes.