Anglo to quit iron ore, coal in $4bn sale plan
The UK group adds Kumba and its South African coal mines to non-core assets in a $4bn disposal plan aimed at taking net debt down to less than $10bn this year.
DRDGold enters era of “aggressive” returns
DRDGold CEO, Niel Pretorius, promised shareholders there was more to come from the gold retreatment firm at current rand gold prices.
Kumba spin-out is Anglo’s ‘base case’ option
Mark Cutifani, CEO of Anglo American, said the unbundling of its 69% stake in Kumba Iron Ore was the base case option the group was currently studying.
Harmony Gold unveils $2.6bn Golpu giant
Harmony said the first stage of its Golpu project would produce 500,000 gold equivalent ounces at peak production and cost $2.5bn to build on an 100% basis.
Anglo’s SA coal mines tough to get away
Anglo American has long stated it wants to sell its Eskom dedicated coal mines, but the transactions may be complex and not major money spinners.
ARM buys R650m in shares to refinance BEE
African Rainbow Minerals will use precious cash to protect the financial position of its empowerment partner, ARM BBEE.
Moody’s lowers Anglo credit to junk status
The credit rating agency also said Anglo would struggle to lower net debt through disposals.
Kumba’s fate to be unveiled on Feb. 16
Norman Mbazima, Kumba CEO, referred queries about the future of the firm to Anglo American's Mark Cutifani who is due to unveil more restructuring next week.
Zuma fails to bring certainty to mining regulation
In his State of the Nation Address, SA president Jacob Zuma failed to bring more certainty to the passage of mining legislation than his mines minister.
Harmony sticks to its guns on PNG
New CEO Peter Steenkamp is singing from the same hymn sheet as predecessor Graham Briggs saying Harmony's future lies in Papua New Guinea.