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Zimplats to focus on beneficiation as profit drops

Aug 31 2015 14:39

Impala Platinum's Zimbabwean unit Zimplats has announced a 29% and 56% revenue and pre-tax profit fall for its full year, and is now focusing on mineral beneficiation.


SA seals mining jobs deal, proposes platinum plan

Aug 31 2015 12:40

With 12 000 jobs on the line, the mining industry, unions and government have signed a broad plan to stem a wave of job losses triggered by falling commodity prices.


Ailing Lonmin brings down operational costs

Aug 27 2015 12:58

Battling from an ever decreasing share price, Lonmin says it has managed to stem the cost of mining the platinum group of metals.


Iron ore, coal hit mining output

Aug 25 2015 11:16

A 21% slump in iron ore production has placed a dampener on overall mining output, which increased by 4% in June, says Statistics SA.


BHP cuts China steel forecast as profits plunge

Aug 25 2015 12:02

BHP Billiton says its full-year profit has plunged as commodity prices tumbled and has cut its forecasts for steel demand and output in China, its largest customer.


Impala Platinum sees lower full-year earnings

Aug 25 2015 17:39

Impala Platinum has flagged lower full-year earnings, mainly due to efforts to ramp up output at its SA mines following a five-month strike in Zimbabwe mine.


AngloGold offers to buy back bonds to cut debt

Aug 24 2015 20:00

AngloGold Ashanti has offered to buy back $810m of high-yield bonds to cut the third-largest gold producer’s interest payments by almost a third.


Anglo American sells copper unit for $300m

Aug 24 2015 11:41

Anglo American has agreed to sell its Norte copper unit in northern Chile to a group of investors led by hedge fund Audley Capital Advisors.


Tough times ahead for foundries

Aug 23 2015 15:00

The country’s 170 foundries face a tough road ahead if they are to remain in business. At least 100 companies in the sector have closed shop since 2003 and production has slowed by 43% since 2007.


Glencore coal supply deal with Eskom suspended

Aug 21 2015 12:03

Administrators for Glencore's Optimum Coal Mine have suspended the firm's supply deal with Eskom while the mining unit undergoes a financial rescue plan.



Gold Fields showcases foreign assets to lure in ‘believers’

Aug 20 2015 12:38

Gold Fields CEO Nick Holland says investors are missing the quality of the miner’s foreign operations by focusing on delays and high costs at its South Deep project.


Exxaro first half earnings drop 62%, cuts dividend

Aug 20 2015 10:56

Mining company Exxaro has posted a 62% fall in half-year earnings and cut its interim dividend following a drop in commodity prices.

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