Off The Wires

Lonmin CEO Magara’s salary cut in three years

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The salary of Lonmin CEO, Ben Magara, was 2.5% higher in 2015 than in the previous year but 18% lower than three years ago when he replaced Simon Scott.

Grace Mugabe is in control of Zimbabwe

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Grace Mugabe is rumoured to have led "a palace coup" by replacing her husband, the 91-year old Robert Mugabe whose health was failing.

Zimbabwe to adopt Yuan as China cancels debt

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Zimbabwe is to adopt the Chinese Yuan as legal tender after the southern African country had some $40m in debt cancelled.

Aquarius buys back $125.4m in bonds

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Aquarius Platinum, the R3.7bn platinum producer, said today it had bought back $125.4m in convertible bonds.

CoAL publishes offer document for Universal Coal

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Coal of Africa said shareholders representing 62.63% of its total issued share capital supported its R1.25bn bid for Universal Coal.

Guptas have “undue influence” over Zuma: report

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The Gupta family had captured political authority in South Africa through its undue influence over President Jacob Zuma.

Zwane hails Impala, NUM agreement

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South African mines minister, Mosebenzi Zwane, welcomed an agreement in which mineworkers dismissed by Impala Platinum during a strike in 2012 .

Vale receives $300m Nacala railway boost

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The African Development Bank approves a $300m loan enabling Vale to finance a railway from a coal mine to Nacala port in Mozambique.

Lace mine production ramp-up begins

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The ramp up of production at DiamondCorp's Lace mine has begun with full production of 30,000 tonnes per month expected from July.

Competition Commission approves CoAL deal

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Coal of Africa's proposed reverse takeover of Universal Coal has been approved by South Africa's Competition Commission.