Northam has “legal imperative’ to Mvela Holdings
Mvelaphanda Holdings will receive "free’ A shares from Northam despite having sold
down its stock in the company because it has a "legal imperative’ to do so.
ContiCoal targets Q4 output from Penumbra
Continental Coal said production from its third mine, Penumbra, would begin in the
fourth quarter of 2012.
Randgold Resources ready to pounce
Randgold Resources sees an opportunity to make hay from the woes of distressed
exploration juniors in West Africa, saying the current dynamics of the industry may
produce some targets.
Implats HEPS down by as much as 41%
Impala Platinum says its headline earnings for the past financial year may be down
by as much as 41%.
Aquarius: Kroondal is safe, for now
Aquarius Platinum’s Kroondal mine can withstand a further fall in PGM prices and is
unlikely to be placed under care and maintenance, says CEO Stuart Murray.
Woeful financials spark Aquarius sell-off
Aquarius Platinum’s financials all but confirmed the bleak situation CEO Stuart
Murray previously warned the company was facing, yet still achieved to rip another
10% from the group’s share price.
TFR lifts RBCT deliveries, but still falls short
Transnet Freight Rail delivered 500,000 tonnes more coal to the Richards Bay Coal Terminal in July but fails to meet the 7.7 million tonnes forecast by the transport and logistics utility.
Trans Hex, De Beers rewrite Namaqualand deal
De Beers will continue to hold one mining right and the majority of the
environmental liability once its transaction with Trans Hex over the sale of
Namaqualand Mines is concluded.
Xstrata pulls back $1bn on capex
Xstrata will cut $1bn from its original capital expenditure planned for 2012, and
has so far cut unit costs by a net $105m, taking "pre-emptive action' to defend
its margins in volatile market conditions.
Xstrata takes $500m hit on Lonmin stake
Xstrata has taken an impairment charge of $514m against its 24.6% stake in
platinum producer Lonmin; an asset it is likely to dispose of should it merge
with Glencore International.