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.
Gold Fields in lashing over mine deaths
Deputy Minister of Mineral Resources, Godfrey Oliphant, has singled out Gold
Fields as the biggest contributor to mine deaths in the year so far.
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.
Modder East strike hits Gold One output
Gold One International’s second-quarter production has come in lower than
guidance, mainly due to labour-related disruptions at its flagship Modder East
mine.
Aurora boss baffles with surety notice
Aurora Empowerment Systems director Zondwa Mandela wants the company’s
liquidators to come up with a R1m surety for its court application against him.
Lonmin faces tough choices
Platinum producer Lonmin’s long walk back to respectability is being seriously
threatened by the sector’s mounting woes.
Platinum Kruger Rand “may help stop the rot’
Platfields CEO Bongani Mbindwane says the introduction of a platinum coin may
create a new long-term source of demand for the beleaguered sector.
Red tape done in Anglo’s De Beers buyout
Anglo American says its $5.1bn buyout of the Oppenheimer family’s 40% stake
in De Beers has received all the necessary regulatory approvals.