Anglo’s Cutifani playing for time; praying for relief
Analysts emerged from a robust and sometimes brutal question and answer session after Anglo's investor day sceptical the restructuring went far enough.
Tharisa to chase down 10% cost reduction
Tharisa produced a maiden full-year profit but said for the current year it would seek a 10% reduction in costs and overheads.
Lurco-Burgh buy Exxaro’s Inyanda colliery
Lurco-Burgh, a joint venture between unlisted businesses, intends to beneficiate 25 million tonnes of coal in five years through the Inyanda Beneficiation Complex.
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.
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.