Tuesday, June 19, 2018

South Africa's largest steel maker ArcelorMittal SA posts a strong rise in profits as it fights a number of competition-related battles and tries to restore a cheap supply of iron ore.

China's steel industry body will allow mills to sign individual supply deals with global miners, as it seemed to abandon efforts to preserve annual pricing that for months had appeared doomed.

Brian Gilbertson's successful courting of two sovereign funds into the little known Platmin provides further evidence the commodity bull run is intact, and raring to go again.

The IDC has shed some light on its involvement in a series of transactions that led to the sale of Wesizwe platinum shares belonging to the Bakubung community.

Hulamin will conduct a R750m rights issue to cut debt levels and ensure growth for the semi-finished and fabricated aluminium products company.

ENRC is to buy a 12.2% stake in Northam Platinum from Mvelaphanda Resources for R2.2bn in cash, leaving the way clear for the latter to begin an unbundling process.

Wesizwe and Platinum Group Metals have cleared the final hurdle that will allow them now to finalise deals to finance their platinum mines, which may include bringing in strategic partners.

Anglo Platinum maintains its full-year production target of 2.5 million oz despite a quarter-on-quarter fall in output. It expects the platinum market to show a deficit this year on the back of strong demand.

Gold Fields Mineral Services (GFMS) predicts continued strength in both platinum and palladium prices this year driven by investment demand and economic recovery.

Platinum surges to a two-year- high on strong auto demand and investor interest.