Anglo culls dividend, plans 60% asset reduction
Anglo American would slash its asset base by 60% and cut capital spending a further $1bn as it redoubled its efforts to survive the metal downturn.
Cutifani grilled in solvency vs. liquidity debate
Mark Cutifani, CEO of Anglo American, said investors liked his strategy and that Minas Rio, an iron ore mine, could be sold as it was not a priority one asset.
South32 Duvha coal supply mine ‘challenging’
South32's head of South Africa, Mike Fraser, said the Wolverkrans Colliery was a "challenging" operation that would be focused to break even.
Clever, ruthless & lucky: the Froneman factor
Neal Froneman, CEO of Sibanye Gold, has cut a wide swathe in the South African mining market since listing his firm in 2013. And he's only just started.
Gold miners “paying up” to sustain output
The cost of buying gold production is increasing even though the dollar traded price of gold continues to slide, an irony related to the dearth in exploration.
Pan African reluctant to buy deep level gold
Cobus Loots, CEO of Pan African Resources, said the company won't look at new investments in deep-level gold mining.
Petra wins plaudits but diamond prices worry
Analysts liked Petra Diamonds' deal to buy De Beers Kimberley Mines, but the short term price pressure in rough diamonds continued to be "a headwind".
CoAL signs MoU to sell $114m stake in Makhado
Coal of Africa has signed a memorandum of understanding to sell a 34% stake in its Makhado project for $114m to China's Qingdao Hengshun Zhongsheng Group.
Exxaro mine in peril after Eskom coal talks fail
Eskom will seek a new coal supply agreement for its Arnot power station after failing to reach terms with Exxaro - a development that could imperil Arnot mine.
Exxaro claims Eskom ordered Arnot closure
Exxaro Resources said it had been instructed by Eskom to shut the 1.4 million tonne/year Arnot coal mine and that the utility was the owner of the operation.