Off The Wires

BHP defends iron ore growth strategy

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BHP Billiton's strategy of increasing iron ore production and cutting costs as the price for the mineral plummeted increased Australia's competitiveness.

African Minerals slides into administration

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African Minerals is to appoint administrators after failing to repay Shandong Iron and Steel Group, its main lender and partner in the Tonkolili project.

Eskom to buy Optimum export coal

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Eskom is to buy export quality coal from Glencore's Optimum coal mine in which it will then blend down at signficant cost - an arrrangement dubbed as "crazy".

Low oil price no panacea, Nick Holland

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The low oil price might give companies operating in Africa a boost, but it was unlikely to stay at its current levels, said Gold Fields CEO, Nick Holland.

Gemfields turns in hefty profit increase

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Gemfields reported an hefty increase in interim net profit and said steady demand for its products would continue for the foreseeable future.

Gold recycling set to be subdued: WGC

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Gold recycling would be subdued after hitting a seven year low, according to the World Gold Council.

Amplats trials safer explosives technology

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Amplats has started trialling a new underground blasting technique employing emulsion explosives to improve safety as well as productivity.

Assmang, Rockwell plan jobs cuts, says NUM

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Four mining companies operating in the Northern Cape province, including Assmang, were planning to cut 1,031 jobs, according to the NUM.

X2 Resources completes capital raising at $5.6bn

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X2 Resources said it had raised $5.6bn in private capital and added that it was assessing a number of opportunities, but was under no pressure to deal as yet.

Value of mining deals higher in 2014 vs 2013

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There was an increase in the value of merger and acquisition transactions in the global mining sector in 2014 compared to 2013, said Grant Thornton.