Merafe earmarks 2013 budget for chrome export levy
South Africa would know by the National Treasury’s 2013 budget whether its
chrome exporters would face levies, says Merafe Resources.
Xstrata pulls back $1bn on capex
Xstrata will cut $1bn from its original capital expenditure planned for 2012, and
has so far cut unit costs by a net $105m, taking "pre-emptive action' to defend
its margins in volatile market conditions.
Xstrata takes $500m hit on Lonmin stake
Xstrata has taken an impairment charge of $514m against its 24.6% stake in
platinum producer Lonmin; an asset it is likely to dispose of should it merge
with Glencore International.
Alarm as Northam forced to rehash BEE deal
Northam Platinum said its empowerment partners had sold up to 10% of their
26% stake to meet bank covenants. However, the same BEE partners will
benefit from the new deal sparking outrage.
CoAL takes broom to board, raises $44.8m
Former Impala Platinum CEO, David Brown, promises to weigh all strategic options as he takes up the chairmanship of embattled coal firm, Coal of Africa.
AngloGold lifts lid on Mine Waste Solutions plan
AngloGold Ashanti sees itself becoming an annual producer of five million
pounds of uranium after incorporating First Uranium’s Mine Waste Solutions
into its asset portfolio.
Keaton to raise funds as it eyes growth
Keaton Energy is aiming to raise around R80m in the near future,
notwithstanding poor market conditions for coal producers, as it remains
convinced about its growth strategy.
Kloppers waives bonus as BHP takes $3.3bn hit
BHP Billiton has taken a $3.3bn hit on its nickel and shale gas assets, a decision
that has prompted CEO Marius Kloppers and the group’s head for petroleum to
forego their annual bonuses.
Gold Fields may axe 2,384 South Deep jobs
This is the worst-case scenario if the company and the NUM can’t agree on
changes to continuous operations at its West Wits mine, which is aiming for
700,000 oz in run-rate production by 2015.
First Uranium delivers final insult
Shareholders in First Uranium have to endure one last stomach blow as the
company revises down its earlier guidance on distributions from the sale of all
its key assets.