Kerr’s South32 to join hunt for new assets
South32 has joined other mining companies in looking for acquisitions and would consider speciality metals such as lithium and graphite.
South32 amps up $350m cost out programme
South32 would more aggressively cut costs achieving $300m in reductions by the close of its 2016 financial year.
2016 dubbed ‘survival of fittest’ for miners
With nearly two months of 2016 down, it's clear that the remainder of calendar will be a test of survival for the world's mining stocks.
Anglo to quit iron ore, coal in $4bn sale plan
The UK group adds Kumba and its South African coal mines to non-core assets in a $4bn disposal plan aimed at taking net debt down to less than $10bn this year.
ARM buys R650m in shares to refinance BEE
African Rainbow Minerals will use precious cash to protect the financial position of its empowerment partner, ARM BBEE.
Moody’s lowers Anglo credit to junk status
The credit rating agency also said Anglo would struggle to lower net debt through disposals.
Zuma fails to bring certainty to mining regulation
In his State of the Nation Address, SA president Jacob Zuma failed to bring more certainty to the passage of mining legislation than his mines minister.
South32 writes down $1.7bn, cuts manganese
The group also announced it would write down its South African energy coal book for $400m and that it would cut 620 jobs at its Northern Cape manganese mine.
Eskom tariff hike will cost 40,000 jobs: CoM
Another 8% hike in the tariff power would have a massive effect on jobs in the platinum and gold industry and merely rewarded Eskom for under-performance.
Weak rand to add billions to miner revenues
The slide in the rand will add billions of rands to the revenues of some of South Africa's mining firms with analysts marking the currency for further weakness.