Source: Business Day
Posted: 15/05/2008 BHP BILLITON has finally concluded the sale of its Optimum Colliery as well as an entitlement to export 6.5m tons of coal a year. The sale was made to a BEE consortium although spokesperson Maredi Mogodi refused to give the value of the deal.
Source: Finance24.com
Posted: 14/05/2008 OANDO has said it is still in discussions, which if successfully concluded, may have a material effect on the price of OANDO'S securities. The shareholders were also advised to be careful when dealing with the company securities.
Source: Business Report
Posted: 14/05/2008 The newly appointed CE of ANGLO PLATINUM Neville Nicolau has said his first and main mission would be accomplishing a zero harm and safe working environment. Nicolau also said he is also looking to improve relations with neighbouring communities as well as improving the company's operational performance. In 2007, 28 people died at ANGLOPLAT mines, a drastic hike from the 18 accidents reported in 2006.
Source: Business Report
Posted: 14/05/2008 ANGLOAMERICAN is still negotiating with workers at the Namibian Skorpion mine. The strike by the workers at Africa's largest zinc operation is entering into its fourth day. According to the Mineworkers Union of Namibia, workers at the mine are paid 3 000 Namibian dollars a month and are demanding a 14% rise as well as higher housing allowances. The company has offered workers a 12% increase.
Source: Finance24.com
Posted: 13/05/2008 BHP BILLITON has drawn a line under its exposure to diamond exploration in Angola and will hand over its 75% stake in the Alto Cuilo joint venture to its partner PETRA DIAMONDS. The decision will clear the way for another company to possibly come in on the projects. According to PETRA chairperson Adonis Poroulis, the company will shift the focus away from the search for classic kimberlites that BHP BILLITON was hunting for to shallower deposits on the ancient volcano crater rim. BHP is also leaving the Luangue project. The value of the transaction between BHP and PETRA, which includes BHP transferring its 25% stake in the Luangue exploration project, was not revealed.
Source: Finance24.com
Posted: 13/05/2008 Another appointment has been made at an ANGLO AMERICAN division. Duncan Wanbald has been appointed as CEO of Copper in the BASE METALS division of ANGLO AMERICAN from 1 July. Wanbald takes over from newly appointed CEO of ANGLO PLATINUM Neville Nicolau.
Source: Finance24.com
Posted: 13/05/2008 Norman Mbazima has been appointed CEO of SCAW METALS, the international diversified steel products business belonging to ANGLO AMERICAN. Mbazima will continue as CFO of ANGLO PLATINUM until a successor is found.
Source: Finance24.com
Posted: 13/05/2008 ANGLO PLATINUM has given notice that Neville Nicolau will take over as Chief Executive Officer, as of 1 June. Nicolau has nearly 30 years of gold mining experience, including eight years with ANGLOGOLD ASHANTI. Nicolau said "ANGLO PLATINUM has a unique, world class portfolio of assets with exciting growth and development potential in the near, medium and long term. I am really looking forward to the challenge of leading the company and its people to achieve the goal of optimal performance, with safety at its core".
Source: Business Report
Posted: 13/05/2008 RIO TINTO, still fighting off a $177bn hostile offer from BHP BILLITON, might bid in excess of $50bn for another mining concern; it was reported by ERNEST & YOUNG yesterday. VALE from Brazil is also considering an acquisition of a similar size after ending talks to buy XSTRATA in March.
Source: Business Report
Posted: 13/05/2008 BHP BILLITON has agreed to purchase ANGLO POTASH for C$284m to gain access to a project in Canada. BHP BILLITON will be paying C$8.15 a share for the company. The deal has received the nod from board members, shareholders and advisers.
Source: Business Report
Posted: 13/05/2008 DRD GOLD rose 2.4% to R6.75 after saying that cost cuts and record high prices for the precious metal boosted earnings.
Source: Finance24.com
Posted: 12/05/2008 The directors of SALLIES have announced that the results of the rights offer pertaining to the issue of 151 483 358 new unsubordinated unsecured convertible debentures of R0.50 each at a subscription price of R0.50 per convertible debenture, in the ratio of 24 convertible debentures for every 100 ordinary shares held at close of business. When the rights offer closed on Friday, 139 467 427 convertible debentures, being 92.1% of the convertible debentures offered, were subscribed for by existing SALLIES shareholders and their renouncees. The underwriters to the rights offer subscribed for the remaining 12 015 931 convertible debentures and a total amount of R75 741 679 was raised.
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