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.
DMR calls for controls over coal price increases
Mosa Mabuza, DMR deputy director-general, said the government had prioritised the control of coal costs while a coal policy would be formuated this year.
South32 writes down $1.7bn, cuts manganese
The group also announced it would write down its South African energy coal book for $400m and that it would cut 620 jobs at its Northern Cape manganese mine.
Eskom tariff hike will cost 40,000 jobs: CoM
Another 8% hike in the tariff power would have a massive effect on jobs in the platinum and gold industry and merely rewarded Eskom for under-performance.
GEM slows Ghaghoo to protect balance sheet
GEM Diamonds said it was on track to pay dividends for 2015 but that it would slow the ramp-up of its Botswana project Ghaghoo until the market revived.
Rand fall saves Harmony from ADR change
The turnaround in the share price of Harmony Gold has delivered the company from changing the ratio at which its ADRs trade to its ordinary shares.