Eastplats hits Q4 wall, impairs for $46.3m
Shares in Eastplats slumped 7% on the JSE as it posted a horror decline in
year-on-year profits, suffered a $46.5m write-down, and said projects might be
rescoped permanently unless third-party funding was acquired.
Impala’s Rustenburg resumes production
Impala had rehired 14,950 workers at its key Rustenburg mine which was ready to
restart production following a crippling six week strike which cost the operation
120,000 ounces of output.
Tharisa secures R1bn funding for plant
Tharisa Minerals has raised R1bn for a chrome and platinum group metal mine and
concentrator from HSBC Holdings.
Implats lost revenue escalates to R2.5bn
Impala Platinum said some 120,000 oz in production had been lost following a
crippling strike equal to R2.4bn in lost revenue.
Implats’ Brown says no exit from Zimbabwe
Impala Platinum CEO, David Brown, said the company has no intention of exiting its
Zimbabwean investments despite intense pressure from the country's indigenisation
minister, Saviour Kasukuwere.
Kasukuwere lashes out at talkative Brown
Saviour Kasukuwere, minister for Youth Development, Indigenisation and
Empowerment has said he is 'sick and tired' of Impala CEO David Brown's 'delaying
tactics'.
Implats says strike over, mining to resume March 5
However, not all parts of the Impala Lease Area would return to operation with
the company taking the opportunity to permanently shut sections where
closure was imminent.
RB Plats may not tap market for R1.7bn
Royal Bafokeng Platinum says project savings and capital raised from its initial
public offering might mean shareholders won’t have to pitch in to fund the
R11.8bn Styldrift project.
Implats warns of job losses, R2bn in lost revenue
Impala Platinum warned of dire consequences flowing from the six-week strike
at its Rustenburg mine, and said the strike was an attempt to destabilise the
company.
ARM has Modikwa takeover, expansion in sights
African Rainbow Minerals said it could dilute Anglo American Platinum’s stake
in the Modikwa mine, or buy it if considered surplus to requirements by Anglo
American.