Gold crunch to test DRDGold’s capex strategy
Almost seven years of capital investment by DRDGold will boil down to this year with the gold price collapse testing the resilience of the gold treatment firm's model.
Gordhan inches SA to new mining tax regime
It wasn't the clarity investors had been seeking, but at least there has been a modicum of progress on a new national tax regime that will include mining.
Equatorial unveils $231m RoC mine plan
Equatorial Resources plans to build a 2 million tonne/year iron ore mine in the Republic of Congo at a capital cost of $231m including rail and port infrastructure.
Investors won’t support CPI+ wages: Froneman
Neal Froneman, CEO of Sibanye Gold, said shareholders had told him to resist above inflation wage increases or capital markets will close.
AngloGold cuts output, spend, impairs $2.6bn
AngloGold responded sweepingly to a $220/oz fall in the average gold price cutting output 300,000 oz, lopping project spend, and booking a $2.6bn impairment.
NUM court decision to assist Lonmin stability
The National Union of Mineworkers failed in its attempt to have its recognition agreement at Lonmin extended, a development that is positive for stability at Lonmin.
Rand weakness boosts Amplats interims
The weaker rand provided some respite to Anglo American Platinum which said interim share earnings would be nearly double those of the same period in 2012.
Exxaro, GDF SUEZ to build 600MW plant
Exxaro Resources is to build a 600MW power station in joint venture with France’s GDF SUEZ and will supply the venture with 3.8mtpa of coal from Thabametsi.
Chasm opened as chamber offers 4% wage hike
The Chamber of Mines has offered unions a 4% wage and benefits increase opening a chasm in expectations and economic reality.
Lenders loosen Sibanye Gold R6bn debt leash
Lenders to Sibanye Gold say the firm can pay an interim dividend provided it has agreed wage increases with unions that include AMCU and NUM.