Off The Wires

SA energy firms left in parliamentary limbo

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Energy companies in SA were in limbo after a proposed law that would give the country's government a 20% stake in new ventures remained stuck in Parliament.

Ferrochrome price 11.5% lower for Q1

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First quarter European benchmark ferrochrome prices were settled at $0.92c cents per pound (c/lb), a decline of 11.5% against the fourth quarter prices.

Ivanhoe to plough $61m into Platreef

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Ivanhoe Mines would use $61m of some $412m received from China's Zijin Mining Group for the development of the Platreef project in South Africa.

Mining distress leaves vacuum for private equity

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Distress in the world's mining sector was leaving the door open to private equity which has seen an opportunity to buy assets.

De Beers picks Patel for CFO role

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De Beers appointed former Anglo American head of corporate finance, Nimesh Patel, as its CFO.

Arnot closure would be “a calamity”: NUM

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The possible closure of the Arnot colliery following a dispute between Exxaro and Eskom would be a calamity, said the National Union of Mineworkers.

Rio to cut spending $500m to $5bn in 2016

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Anglo-Australian mining group, Rio Tinto, expected its 2016 capital spending budget to fall by $500m to $5bn.

M&G to buy $3m in Coal of Africa shares

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Coal of Africa said it was fully funded ahead of its $91m bid for Universal Coal after M&G Investment Management agreed to buy $3m worth of CoAL shares.

Coronation bets on SA mining sector prospects

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There was a disconnect between price and value in the mining market currently with the sector offering strong long-term prospects, said the asset manager's CIO.

De Beers to put Snap Lake into mothballs

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De Beers has put its Snap Lake diamond mine in Canada into mothballs with the loss of some 434 jobs, the diamond company said.