SA economy braced for strike fallout
The South African economy must brace itself for the fallout from the mining industry's strike activity, a development that could be devastating, says the Bureau for Market Research.
Lender avarice drove desperate miners
Driven to desperation by spiralling debt, South Africa's miners had no option but to turn to strike action, according to a study by Unisa's Bureau of Market Research.
Strikes had hurt SA’s credibility: Gordhan
Strike action has cost an estimated R10bn in lost mine output and had led to two credit downgrades, said finance minister Pravin Gordhan in a speech last night.
Leon rails against misunderstood mining charter
The mining charter wasn't only about transfer of mining company ownership, said Peter Leon of Webber Wentzel who added that the charter was also about improving procurement and living conditions.
Anglo declares capex blow out at Minas Rio
More bad news for Anglo American's Minas Rio project with capital costs ballooning to $8bn and analyst expectations first production won't be before 2015.
Motlanthe rails against migrant labour
Deputy president Kgalema Motlanthe has urged mining companies to allow migrant
workers to return to home more frequently.
Shareholder advisories split on Glenstrata
Shareholder advisory services are divided on whether investors should support the
$33bn merger between Glencore and Xstrata that goes to the vote on November 20.
CEOs walk the plank as tide turns against miners
Competition to please investors exacerbates the mining cycle and means the CEOs of
the world’s largest miners face an in-built obsolescence.
BHP begins hunt for Kloppers succession
BHP Billiton is reported by the Financial Times to be starting early in efforts to find a
successor for its CEO, Marius Kloppers.
Marikana tragedy dubbed a “massive policy failure”
Lonmin’s Marikana tragedy has been described by prominent mining industry players
as a massive failure in national and local government policy, as well as corporate
failings.