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.
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.
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.
Amsa shows appetite for more litigation
ArcelorMittal SA CEO, Nonkululeko Nyembezi-Heita, is surprisingly sanguine
about the prospects of a speedy conclusion to the iron ore supply dispute
between her company and Kumba Iron Ore.
Merafe earmarks 2013 budget for chrome export levy
South Africa would know by the National Treasury’s 2013 budget whether its
chrome exporters would face levies, says Merafe Resources.
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.
CoAL takes broom to board, raises $44.8m
Former Impala Platinum CEO, David Brown, promises to weigh all strategic options as he takes up the chairmanship of embattled coal firm, Coal of Africa.
AngloGold lifts lid on Mine Waste Solutions plan
AngloGold Ashanti sees itself becoming an annual producer of five million
pounds of uranium after incorporating First Uranium’s Mine Waste Solutions
into its asset portfolio.
Alarm as Northam forced to rehash BEE deal
Northam Platinum said its empowerment partners had sold up to 10% of their
26% stake to meet bank covenants. However, the same BEE partners will
benefit from the new deal sparking outrage.
Keaton to raise funds as it eyes growth
Keaton Energy is aiming to raise around R80m in the near future,
notwithstanding poor market conditions for coal producers, as it remains
convinced about its growth strategy.