Kloppers waives bonus as BHP takes $3.3bn hit
BHP Billiton has taken a $3.3bn hit on its nickel and shale gas assets, a decision
that has prompted CEO Marius Kloppers and the group’s head for petroleum to
forego their annual bonuses.
Red tape heaps delay on Anglo’s Minas Rio
Legal and bureaucratic interruptions would delay Anglo’s Minas Rio iron ore
project once again, with an as yet undisclosed cost impact on the $5.8bn
project.
China pull-back poses threat to “frontier mining’
But for how long? According to Deloitte, China’s insatiable need to urbanise, fill
tummies and provide housing means economic growth shrinkage is but a
passing phenomenon.
Zim’s Tsvangirai pleads for Australian investment
Zimbabwe Prime Minister Morgan Tsvangirai has asked Australia to invest in his
country’s mining sector and ease sanctions on the country.
First sparks fly in silicosis battle
The legal action British firm Leigh Day & Co intends to bring against Anglo
American South Africa on behalf of silicosis sufferers is slowly moving towards its
first obstacle.
BHP Billiton enforces stringent clean-office policy
A memorandum on stringent clean-desk practices at BHP Billiton’s Perth offices
has the stamp of CEO Marius Kloppers all over it.
Cherish thy foreign investor
Apathy towards the priorities of "traditional' foreign investors will likely
undermine efforts to increase the contribution of mining to the social
transformation of SA, says a Sims critique.
Iron ore, mineral sands depress Exxaro shares
Shares in Exxaro Resources fell under further pressure this week, registering a
9.4% decline since the beginning of July as the outlook for coal, iron ore and
mineral sands prices looked dim.
Xstrata vote on Glencore bid set for Sept 7
Xstrata has effectively given Glencore and its rival Qatar shareholder the
summer break to hammer out an agreement on the takeover of the UK miner.
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.