Two SA gold shares making hay as rand slips
Gold companies lucky enough to have avoided strike action sweeping the sector have
found the weakening in the rand somewhat helpful to operating cash flows.
Gold One likely to delay Hong Kong listing
Gold One International, which on Tuesday dismissed 1,435 striking workers, is likely
to push back its proposed listing on the Hong Kong Stock Exchange.
Pan African Resources bucks the trend
Over the last 12 months the gold index has shrunk about 13%, but Pan African
Resources, run by former Harmony Gold manager Jan Nelson, has moved the other
way, gaining about 61%.
Chamber, Cosatu agree on labour framework
Gold mining companies make some significant concessions as they and trade
federation Cosatu discuss ways to bring the current spate of wildcat strikes to an
end.
Gold Fields, NUM solve South Deep impasse
Gold Fields and the National Union of Mineworkers have settled their differences over
working conditions and an operational model at the company’s South Deep mine.
Cutifani warns of tears at ‘knife-edge’ mines
AngloGold Ashanti’s CEO sketched a grim scenario for South Africa’s mining industry
which was on a knife-edge amid illegal strikes in which some 80,000 mineworkers
were participating.
Pan African eyes gain from SA’s pain
Upheavels in South Africa’s mining industry will not deter Pan African Resources
from growing its asset portfolio, even though the company claims to have enough on
its plate for now.
Strike contagion shuts down 40% of SA gold
AngloGold Ashanti confirmed its South African production had been interrupted as
strike action spread, a development that could prove catastrophic and involve
catalysing downsizing.
Why Harmony should rethink Golpu options
Harmony Gold will not produce enough gold in South Africa to fund its share of the
$5bn Golpu development costs.
Great Basin granted $35m loan
Great Basin Gold has been granted a $35m working capital loan by its existing
lenders.