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ICT gets sweet deal from ArcelorMittal

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Sources say Imperial Crown Trading will get R200m from ArcelorMittal even if it loses the action against Kumba Iron Ore over the prospecting right it has been awarded to part of the Sishen mine.

Eskom contracts independent power producers

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ESKOM has contracted five independent power producers to commission privately generated electricity to boost its energy supply.

Zim poised for billion dollar diamond sale

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Zimbabwe's state coffers are poised for a huge cash injection as 4.5 million carats of diamonds, worth up to $1.7bn according to the government, go on sale in the capital Harare.

Work stops on CoAL’s Vele mine

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Development work on Coal of Africa's Vele coking coal mine in Limpopo Province has been stopped while the company negotiates with the Department of Environmental Affairs

ArcelorMittal seeks “holistic solution”

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ArcelorMittal CEO Nonkululeko Nyembezi-Heita says the acquisition of ICT is part of a strategy to improve the steel group's chances of coming out on top in the fight with Kumba Iron Ore.

Lonmin to get base metal rights

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Lonmin was likely to receive approval to sell base metals over areas it successfully received mining licence conversions several years ago, a government official says.

No major Northam earnings fluctuations

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Platinum producer Northam Platinum expects its full year earnings per share and headline earnings per share to be between 170 and 190 cents.

ArcelorMittal buys Imperial Crown Trading

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ArcelorMittal has agreed to buy Imperial Crown Trading for R800m in what could be viewed as a desperate attempt to recover the mining rights it lost in Kumba's Sishen iron ore mine.

Uranium One lifts output target

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Uranium One upgrades its annual production guidance to seven million pounds amid a year-on-year improvement in June quarter financial results.

Lonmin ‘to account’ for Keysha’s minerals

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The South African government has said Lonmin may have to account for minerals sold from land over which empowerment firm, Keysha, now has a prospecting right.