CEOs walk the plank as tide turns against miners
Competition to please investors exacerbates the mining cycle and means the CEOs of
the world’s largest miners face an in-built obsolescence.
AngloGold cuts capex, launches projects review
AngloGold Ashanti would conduct a two to four-month review of its South African and
African projects amid a credit downgrade and lost production.
Harmony lands solid profit despite R325m strike hit
Harmony Gold estimated a strike at its Kusasalethu mine carried a total opportunity
cost of R325m, but nonetheless produced impressive September quarter figures.
Bristow sympathetic to Congo code revamp
Mark Bristow, CEO of Randgold Resources, said he was in sympathy with the efforts
of the Democratic Republic of Congo and other African countries to give themselves
a larger slice of profits.
BHP begins hunt for Kloppers succession
BHP Billiton is reported by the Financial Times to be starting early in efforts to find a
successor for its CEO, Marius Kloppers.
Marikana tragedy dubbed a “massive policy failure”
Lonmin’s Marikana tragedy has been described by prominent mining industry players
as a massive failure in national and local government policy, as well as corporate
failings.
SA’s mining permit slippages widen in 2012
It’s taking longer to process mining and prospecting permits in South Africa with
more deadline slippages occuring in 2012 than in 2011.
Gold Fields’ KDC East ends 23-day strike
Some 8,100 workers were reinstated at Gold Fields KDC East mine after a 23-day
strike at the mine was ended, the company said.
Strike costs Wescoal R10m in Eskom deliveries
A truckers’ strike knocked revenues and profits of Wescoal in the first six months of
its financial year, but the junior still managed solid results.
SA’s latest gold ETN strips out rand risk
It’s bad enough trying to forecast gold without having to factor in the effect the rand
will have on your investment, says Investec of its newly-launched gold product.