More cash as SA gold firms make “final offer”
South African gold producers promise to pay R12,500 and R13,200 per month for entry-level workers in three years as a key concession in its "final offer".
BEE partners should be allowed to fail: Cutifani
Mark Cutifani, CEO of Anglo American, said black-owned mining partners should be allowed to fail instead of having companies such as his prop them up.
Cutifani lights touch paper on SA failings
Anglo American's Mark Cutifani issued his sternest warning yet that policy uncertainty and labour strife would toll the end of the South African mining sector.
Major platinum cuts unlikely, says Griffith
Anglo American Platinum CEO, Chris Griffith, said major restructuring in the South African platinum sector was unlikely "at these levels".
Kumba supportive of Exxaro in BEE restructure
Kumba Iron Ore CEO, Norman Mbazima, said the company would be supportive of Exxaro as it sought to restructure its BEE structure at a time of price lows.
Acacia sticks to 5-year plan despite lower gold
Acacia Mining, which posted a 63% fall in interim profit, said a five-year plan to generate free cash flow would not be changed even if the gold price sank lower.
Transnet roll-out a reminder the pain will stop
Transnet has increased its infrastructure roll-out to R337bn even though the mining industry it is supposed to support continues to reel under market forces.
Lonmin sinks as restructuring fails to inspire
Pressure on Lonmin's share price continued apace with analysts saying its restructuring would fail to make it cash flow positive without a higher metal price.
Anglo maintains interim dividend, cuts staff 46%
Anglo American unveiled a brutal 46% reduction in employee numbers in order to save $300m of a $500m cost saving drive over and above productivity targets.
Exxaro BEE in R400m loan deal to pay lenders
The decline in Exxaro's shares and income has forced its 52% empowerment partner to seek a R400m loan to settle part of a R3.8bn preference share facility.