De Beers guarantees Ponahalo deal
De Beers has guaranteed about 56% of the preference shares held by Ponahalo Investments in an effort to stop its R3.7bn, 2006 empowerment transaction from collapse.
De Beers’ Penny quits firm
De Beers CEO, Gareth Penny, ended a five year reign at the helm of the diamond group on Friday even as it unveiled a doubling in pretax earnings, an 84% increase in sales and a doubling in production.
Eastplats lifts output despite dismissals
Eastern Platinum dismissed 15 contract stoping crews in May but still managed to keep production in the period on an even keel quarter-on-quarter.
Lonmin to meet platinum sales target
Lonmin will meet its forecast of selling 700,000 oz of platinum in the year to September but at an additional cost of $17.5m because some 20,000 oz of platinum will be toll-smelted by a competitor.
Kumba arbitration could take two years
It could take between one and two years for arbitration proceedings over the disputed iron ore contract between Kumba Iron Ore and ArcelorMittal to reach a decision.
Marikana yields higher output for Lonmin
Lonmin said third quarter output from its Marikana underground operations yielded a 10.2% increase compared to the same period last year.
Kumba’s interim profits soar
Kumba Iron Ore has reported a 90% surge in profits for the first six months of 2010 but sounded a note of caution on expected trading conditions in the second half which could show a modest slowdown.
Kumba strikes interim deal with ArcelorMittal
UPDATED - Kumba Iron Ore and ArcelorMittal have reached an interim pricing agreement which will keep iron ore supplies flowing to the steel producer.
Northam halts ops at Zondereinde after accident
Northam Platinum says it has halted production at its Zondereinde mine in Rustenburg after two miners were killed, the latest in a spate of accidents.
Shabangu must act on Sishen dispute
Top rated analyst David Pleming of Macquarie First South Securities has called for mining minister Susan Shabangu to take a leadership role in dealing with the mining rights dispute at Sishen.