Anglo, Codelco shake hands on Los Bronces
Anglo American and Codelco have agreed to a deal that would see the Chilean copper producer take up a 29.5% stake in Anglo’s flagship Los Bronces mine for $2.9bn.
Gold Fields warns of gold output downgrades
Gold Fields said production would be no higher than 3.4 million oz and could fall lower as supply disruptions took hold, but it would not compromise on its position as a high yield gold payer.
Naive to think labour ructions isolated: Holland
Gold Fields CEO, Nick Holland, said labour unrest on the country’s platinum
mines was a national issue and suggested the labour landscape was changing.
Zuma threatens to seize mining licences
President Jacob Zuma, speaking in the North West province, said miners ought to provide decent housing to miners or risk losing their mining licences, comments he made in the wake of the Marikana disaster.
Chamber, Amcu to talk as strike spreads
UPDATED: The Chamber of Mines will meet trade union Amcu for the first time
on Wednesday. Meanwhile, some workers at Royal Bafokeng Platinum have
reportedly downed tools.
SA platinum faces “toxic mix’ as it plots union talks
The platinum sector’s relations with labour have been described as a toxic mix
of politics, union complacency and management failure.
BHP to review Olympic Dam project as China slows
BHP Billiton put the brakes on its $20bn Olympic Dam project and could halt up
to $60bn more as it books its first profit decline in three years on slowing China
demand.
Implats postpones NUM, Amcu count as tensions rise
Impala Platinum’s plans to verify the support that controversial union Amcu has
on its Rustenburg mine has been postponed two weeks as the atmosphere there
is tense.
Market to focus on BHP’s capex guidance
Having already addressed the market’s concerns over writedowns of its shale
business, focus will turn to BHP’s capex plans and whether any of its large
projects will be deferred.
Idle Lonmin to plea with bankers
Lonmin will have to ask its bankers for some leniency on its loan conditions, or
request shareholders for a capital injection, while its main operating asset is
standing still.