Off The Wires

Lonmin hit by perfect storm

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Lonmin had been hit by a perfect storm of conditions including problems with its empowerment structure, tax evasion accusations and a collapsed platinum price.

Kibo finalising power purchase agreement

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Kibo Mining said it had finalised the terms of reference for its power purchase and a grid connection agreements with the Tanzanian government.

Amplats CFO Bongani Nqwababa jumps ship

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Amplats CFO swaps the stress of South Africa's platinum industry for the gas, oil and petrochemical interests of Sasol.

AngloGold tipped for asset clear-out

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AngloGold Ashanti would seek asset sales in order to reduce debt which at $3.2bn was more than any of the major gold producers.

Vedanta founder Agarwal to give up wealth

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Vedanta founder Anil Agarwal is to donate 75% of his $3.3bn fortune to charity after meeting Bill Gates, the Microsoft founder.

Amplats sales to support platinum price

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Proposals by Anglo American Platinum to sell four shafts in Rustenburg would force new owners to think more cost effectively about them.

Glencore owed $200m by Zambia

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Glencore is owed $200m from the Zambian tax authorities who want the group to provide papers of importation from the countries in which clients are headquartered.

Zille fears Russia nuclear deal corrupt

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Helen Zille, leader of the Democratic Alliance, said the proposed $10bn nuclear deal with Rosatom could contain corruption "on a grand scale".

Aquarius Pt appoints new chairman

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Aquarius Platinum has appointed Nigel Rudd as its new chairman effective from March 1, the company said.

Universal to apply for RBCT entitlement

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Universal Coal said it had started exports from its Kangala colliery via a deal with Exxaro and had applied for more direct export entitlement through Richards Bay.