Northam has “legal imperative’ to Mvela Holdings
Mvelaphanda Holdings will receive "free’ A shares from Northam despite having sold
down its stock in the company because it has a "legal imperative’ to do so.
Implats HEPS down by as much as 41%
Impala Platinum says its headline earnings for the past financial year may be down
by as much as 41%.
Randgold Resources ready to pounce
Randgold Resources sees an opportunity to make hay from the woes of distressed
exploration juniors in West Africa, saying the current dynamics of the industry may
produce some targets.
Trans Hex, De Beers rewrite Namaqualand deal
De Beers will continue to hold one mining right and the majority of the
environmental liability once its transaction with Trans Hex over the sale of
Namaqualand Mines is concluded.
Aquarius: Kroondal is safe, for now
Aquarius Platinum’s Kroondal mine can withstand a further fall in PGM prices and is
unlikely to be placed under care and maintenance, says CEO Stuart Murray.
TFR lifts RBCT deliveries, but still falls short
Transnet Freight Rail delivered 500,000 tonnes more coal to the Richards Bay Coal Terminal in July but fails to meet the 7.7 million tonnes forecast by the transport and logistics utility.
Woeful financials spark Aquarius sell-off
Aquarius Platinum’s financials all but confirmed the bleak situation CEO Stuart
Murray previously warned the company was facing, yet still achieved to rip another
10% from the group’s share price.
Xstrata takes $500m hit on Lonmin stake
Xstrata has taken an impairment charge of $514m against its 24.6% stake in
platinum producer Lonmin; an asset it is likely to dispose of should it merge
with Glencore International.
Amsa shows appetite for more litigation
ArcelorMittal SA CEO, Nonkululeko Nyembezi-Heita, is surprisingly sanguine
about the prospects of a speedy conclusion to the iron ore supply dispute
between her company and Kumba Iron Ore.
Merafe earmarks 2013 budget for chrome export levy
South Africa would know by the National Treasury’s 2013 budget whether its
chrome exporters would face levies, says Merafe Resources.