Better H2 predicted for Anglo subsidiaries
The weaker earnings guidance from Anglo American’s listed subsidiaries is a
pointer to a likely trend in results from other listed mining companies, says a
mining analyst.
Accounting, not emotion, guides valuations
Governments are fooling themselves if they think there is more than simple,
objective figures behind the negative responses of rating agencies, says auditing
group Ernst & Young.
Transnet sticks to 75Mt coal target
Transnet will ask its freight division to meet an average monthly railage target
of 66 million tonnes - never achieved before - to convince the coal industry its
improvements are permanent.
Safety task team seeks Section 54 arbiter
Former Chief Inspector of Mines, May Hermanus, has been touted as an
independent arbiter in disputes over the application of Section 54s.
Silicosis case comprises 1,500 claimants
The number of silicosis sufferers who want to sue Anglo American in London
now totals more than 1,500 according to Richard Meeran, the lawyer who is
driving the case.
Xstrata asks for vote delay on Glencore deal
Global miner Xstrata has asked to postpone the July 12 special shareholder
meeting on its proposed merger with commodities trader Glencore.
More delays to mining law revision
A member of parliament’s portfolio committee on mineral resources has poured
cold water on expectations that the long-anticipated revision of SA’s mining
legislation will be finalised by year-end.
ANC fails to end regulatory confusion
The ANC policy conference has failed to end uncertainty over policy and
regulatory issues that the mining industry was hoping would be put to bed.
Business warns ANC: be clear!
Business leaders attending the ANC’s policy conference have appealed for
certainty and warned that a lack of clarity may lead to a plunge in business
confidence.
Watchdog approves Petmin’s SamQuarz sale
The Competition Tribunal has approved Petmin’s R259m transaction to dispose
of the SamQuarz silica mine.