Congo mining code revision not retroactive
A proposed revision of the Democratic Republic of Congo’s mining code, which could
see Government take a 35% stake in projects, would not be applied to existing
mining projects.
SA mine trouble to linger as tension bubbles
Some strikes have been resolved; many continue. What is certain, however, is that
the labour discontent of 2012 is set to be a long-standing feature of the industry.
CoAL ends Mooiplaats strike, but market bites
Coal of Africa said a six-week strike at its Mooiplaats colliery in Mpumalanga
province was over, but the lower production and poor markets will make to a tough
first half of its financial year.
Toronto diamond firm mulls JSE listing
Toronto-listed Afri-Can Diamonds, which digs for diamonds off Namibia’s coastline, is
considering a secondary listing in Johannesburg.
Anglo needs more SA managers: Gordhan
Pravin Gordhan, South Africa’s finance minister, says Anglo American has an
"umbilical cord' to the country and ought to draw more of its executive from South
Africa.
West Rand Ergo one step closer
Posting an otherwise dire quarterly update on operations, Gold One
International says the scoping study of a proposed surface venture has shown
promising results.
Transnet in R100bn public, private capital effort
Transnet, the state-owned transport and logistics utility, said its R300bn capital
expenditure programme could be extended by at least R100bn if it could persuade
the private sector to invest.
Congo plans 35% mines grab
The Democratic Republic of Congo is to consider proposals that would see a radical
change in its mining code as it seeks to lift the mining industry’s contribution to the
country’s economy to 25% by 2016.
Lonmin seeks $800m in rights issue
UPDATED: Lonmin has proposed a rights issue of $800m, likely to take
place
before the end of the year, as part of a strategy to refinance its balance
sheet.
Battle weary Lonmin slashes capex further
Lonmin has reined in capital expenditure for the next two years by another
23% as the company seeks to map its way forward following the events at
Marikana.