Pan-African lifts dividend, targets 250koz/year
Pan African Resources posted lower headline earnings but lifted the dividend in a signal it remained confident in its growth aspirations kept at 250,000 ounces/year.
NAMF II closed after failure to “gather traction”
One of the principals behind the New Africa Mining Fund, the Development Bank of Southern Africa, said the venture capital initiative had been shut down.
AngloGold abandons $2.1bn right issue
The gold producer also said that it would not press ahead with plans to restructure into two separate companies.
Zimbabwe cuts gold levy to assist revival
Zimbabwe fiinance minister, Patrick Chinamasa, acknowleged the crucial role mining could make in the southern Africa country's revival.
Sibanye confirms Cooke 4 may restructure
Sibanye Gold hoped to avoid large scale retrenchments at its Cooke 4 shaft as it had avoided significant losses when restructuring at Beatrix West in 2013.
Petmin up as market shakes off write-downs
Petmin's Somkhele anthracite and thermal coal operation lifted volumes and helped stave off lower prices, but elsewhere write-downs continue to dog the firm.
Sibanye may cut 2,500 jobs at Cooke
Unconfirmed speculation is that Sibanye Gold will start restructuring efforts at its newly acquired Cooke operation situated west of Johannesburg.
AngloGold to raise $2.1bn, float NewCo
AngloGold Ashanti is to raise $2.1bn in a rights issue and the partially demerge its international assets leaving a local company free to invest in other commodities.
Trans Hex hails market “momentum”
Trans Hex said sales from the first three tenders of this year were up a fifth on owing to positive momentum in the rough diamond market.
CCMA could have ended platinum strike sooner
The five-and-a-half-month strike in South Africa's platinum sector could have been ended months earlier, said Jan de Lange writing in Rapport.