Home News Markets Page 214

Markets

Gordhan sets aside R230m for acid mine water

The government has budgeted R225m over the next two years to design and build an acid mine water treatment facility in the Vaal water management area.

Govt accepts mine drainage advice

The government says it can prevent rising acid effluent in the Central Basin of the Witwatersrand from reaching environmentally critical levels next year.

AEMFC under fire over special treatment

More industry players are raising concerns that state-owned miner AEMFC is receiving preferential treatment from the department of mineral resources.

Anglo ‘paid too much’ for Minas Rio

Cost increases at Minas Rio may indicate that Anglo American CEO Cynthia Carroll has overpaid for the controversial iron ore project.

Anglo doubles profit, announces new JV

UPDATED: Anglo American has almost doubled its operating profit on the back of higher commodity prices as well as improved efficiencies, and will resume paying a final dividend.

BHP goes on $80bn expansion spree

BHP Billiton plans to pour $80bn into expansions and return cash to investors rather than chase takeovers, after nearly doubling its first-half profit.

Public enterprises to house state miner

The state-owned mining company that will spearhead the government's foray into the mining sector will be located in the department of public enterprises, says ANC secretary-general Gwede Mantashe.

Australia mining tax to in $60bn less

Australia will collect an estimated A$60bn less in a new mining tax over the next decade than originally predicted, according to the Sydney Morning Herald.

Acid water report reaches cabinet

A report on how to tackle the threat of rising underground acid mine water will be discussed by cabinet this week, says Water Affairs Minister Edna Molewa.

BHP backers pin hopes on further buybacks

BHP Billiton is expected to nearly double its first-half profit to a record, with investors focused on the group's strategy for its bulging cash pile.