Sales of BEE shares worrying, says Xingwana
The selling of mining shares granted to blacks is undermining transformation, says Minister of Women, Children and People with Disabilities Lulu Xingwana.
Labat investor seeks $2m from Aurora
A $2m investment intended for JSE-listed IT firm Labat Africa has found its way to the bank coffers of Aurora Empowerment Systems, reads a company statement.
Gold Fields makes hay of price spike
Gold Fields has significantly benefitted from the rising gold price during the June quarter, managing to translate a 5% production increase into 15% earnings growth.
Write-down hurts Aquarius Platinum
A strengthening in the value of the rand, and non-cash write-downs at its Blue Ridge operation, took Aquarius Platinum to a full-year net loss despite better production and higher revenue figures.
No nationalisation, says Gold Fields
Gold Fields CEO Nick Holland remains confident that nationalisation will not happen, although he concedes it is increasingly worrying foreign investors.
Mponeng operations halted after fatality
An AngloGold Ashanti worker has been killed at the Mponeng mine after a seismic event, bringing mining operations to a halt in the affected area.
Big concern over Namibia’s mining tax plans
The Namibian government’s proposals for additional taxes on mining may shake the foundations of the country’s industry, say sector players.
Aurora stuns with R15m refund claim
Aurora Empowerment Systems has stunned unions and drawn the anger of liquidators, saying it should be refunded for losing its preferred bidder status of the Pamodzi Gold assets.
Doubts remain over gold shares
The rand price of gold has risen close to 30% since January, yet analysts are unsure whether higher margins will rally local gold equity prices.
ArcelorMittal furnace out of action
ArcelorMittal SA says a furnace at its Newcastle plant has failed and will be out of service for the next two months.