Ramatlhodi implores sector to save jobs
Mines minister, Ngoako Ramatlhodi, said at a two-day emergency meeting that he would implore the mining sector to find new ways of limiting retrenchments.
New Mining Charter in 2016, sanctions raised
The SA government would have a new charter ready by March 2016 and would lift sanctions for non-compliance to 10% of income from current R500,000 charter.
BEE partners should be allowed to fail: Cutifani
Mark Cutifani, CEO of Anglo American, said black-owned mining partners should be allowed to fail instead of having companies such as his prop them up.
Cutifani lights touch paper on SA failings
Anglo American's Mark Cutifani issued his sternest warning yet that policy uncertainty and labour strife would toll the end of the South African mining sector.
Kumba supportive of Exxaro in BEE restructure
Kumba Iron Ore CEO, Norman Mbazima, said the company would be supportive of Exxaro as it sought to restructure its BEE structure at a time of price lows.
Transnet roll-out a reminder the pain will stop
Transnet has increased its infrastructure roll-out to R337bn even though the mining industry it is supposed to support continues to reel under market forces.
Anglo maintains interim dividend, cuts staff 46%
Anglo American unveiled a brutal 46% reduction in employee numbers in order to save $300m of a $500m cost saving drive over and above productivity targets.
Exxaro BEE in R400m loan deal to pay lenders
The decline in Exxaro's shares and income has forced its 52% empowerment partner to seek a R400m loan to settle part of a R3.8bn preference share facility.
Lonmin woe one of many pickles in the debt jar
Miners are struggling to tap capital markets because it's so hard to tell which way the wind is blowing, although Lonmin may have left a rights issue too late.
Mining shares capitulate on day of heavy selling
A difficult day for the major mining shares in a selling action described by analysts has "a capitulation" as market prices outweighed efforts by management.