Moody’s lowers Anglo credit to junk status
The credit rating agency also said Anglo would struggle to lower net debt through disposals.
Harmony Gold unveils $2.6bn Golpu giant
Harmony said the first stage of its Golpu project would produce 500,000 gold equivalent ounces at peak production and cost $2.5bn to build on an 100% basis.
Anglo’s SA coal mines tough to get away
Anglo American has long stated it wants to sell its Eskom dedicated coal mines, but the transactions may be complex and not major money spinners.
ARM buys R650m in shares to refinance BEE
African Rainbow Minerals will use precious cash to protect the financial position of its empowerment partner, ARM BBEE.
Kumba’s fate to be unveiled on Feb. 16
Norman Mbazima, Kumba CEO, referred queries about the future of the firm to Anglo American's Mark Cutifani who is due to unveil more restructuring next week.
Zuma fails to bring certainty to mining regulation
In his State of the Nation Address, SA president Jacob Zuma failed to bring more certainty to the passage of mining legislation than his mines minister.
Harmony sticks to its guns on PNG
New CEO Peter Steenkamp is singing from the same hymn sheet as predecessor Graham Briggs saying Harmony's future lies in Papua New Guinea.
DMR calls for controls over coal price increases
Mosa Mabuza, DMR deputy director-general, said the government had prioritised the control of coal costs while a coal policy would be formuated this year.
South32 writes down $1.7bn, cuts manganese
The group also announced it would write down its South African energy coal book for $400m and that it would cut 620 jobs at its Northern Cape manganese mine.
Eskom tariff hike will cost 40,000 jobs: CoM
Another 8% hike in the tariff power would have a massive effect on jobs in the platinum and gold industry and merely rewarded Eskom for under-performance.