Off The Wires

Transnet faces R85bn class action

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Transnet faces an R85bn class action from members of its pension funds who claim the firm stripped the funds of assets.

Glencore may consider cash return

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Glencore may return surplus cash earned from the $7bn sale of its Las Bambas asset to shareholders.

Gold miners will put assets up for sale

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Portfolio rationalisation at the world's largest gold producers would continue, said AngloGold Ashanti.

GEM on course for maiden dividend

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GEM Diamonds was on course for a maiden dividend after producing best ever production results from its Letseng mine in Lesotho.

Petra shares under pressure after sale

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Shares in Petra Diamonds have been under pressure since July 28 after a major shareholder sold a large portion of its stake in the company.

Kumba, NUM/Solidarity sign wage deal

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Kumba Iron Ore signed a three-year wage deal with the NUM and Solidarity providing increases of between 7.5% and 10%.

Amplats won’t sell mines on the cheap

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Anglo American Platinum told unions last week that it wouldn't sell its non-core assets if they did not meet the group's price targets.

AECI operating profit hit by platinum strike

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The platinum sector strike that earlier this year cost AECI, a chemicals and explosives maker, about R250m in operating profit.

Eskom to appoint permanent CEO mid-August

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South Africa's government is to appoint a permanent CEO to its power utility, Eskom, by mid-August, said public enterprises minister, Lynne Brown.

Petra may mothball Helam mine

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Petra Diamonds, the UK-listed diamond company, may put its Helam fissure mine on care and maintenance.