Off The Wires

Petmin to continue share buy-back

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Petmin said it would continue to buy-back shares in its 2016 financial year as the firm's management believed the share was under-valued.

Zuma to discuss job losses in urgent forum

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The government has called an urgent meeting with labour and business leaders to discuss the impact of low commodity prices on jobs in the mining sector.

Platinum market too small to be reserve asset

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The platinum market was too small to support the metal's use as a reserve asset, said an analyst.

Optimum strikes coal deal with Eskom

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Optimum Coal Mine reached an interim agreement with Eskom to continue supplying its Hendrina power station whilst the mine was in business rescue.

Chinese interest in CRG may be cooling

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Central Rand Gold said talks with Chinese suitors was changing with progress slowing in one instance while another bidder did not contemplate a takeover.

No SARB plans for platinum as reserve asset

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There were no talks among central bankers in the South African Reserve Bank about upgrading platinum to a recognised reserve asset.

Kumba to depart Top 40 as iron ore tumbles

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Kumba Iron Ore, the Anglo American subsidiary, will depart Johannesburg's Top 40 Index following a collapse in the price of iron ore to $50/t from $160/t in 2013.

Keaton restructures BEE shareholding

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Keaton said its empowerment partner, Rutendo Mining, had exchanged shares worth 26% in a subsidiary company for just under 22% stake in the listed entity.

Sibanye confirms Amplats negotiations

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Sibanye Gold confirmed it was in negotiations with Anglo American Platinum regarding the potential acquisition of the platinum firm's Rustenburg operations.

Somkhele fires Petmin to 60% earnings rise

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Petmin said headline earnings for the year ended June 30 would be about 60% higher coming in at some 24 cents per share.