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Mining

Court dismisses AMCU's job loss appeal on Sibanye-Lonmin merger

May 17 2019 15:46

Judge Dennis Davis on Friday dismissed an appeal by the Association of Mineworkers and Construction Union (AMCU) who wanted an aproval by the Competition Tribunal for a merger between mining companies Sibanye-Stillwater and Lonmin set aside.

Mining

Public Investment Corporation said to be concerned by Sibanye offer

May 17 2019 12:16

The Public Investment Corporation, whose 30% stake in Lonmin is enough to block the miner’s planned takeover by Sibanye Gold, is concerned that the value of the all-share deal has been eroded, according to a person familiar with the matter.

Mining

Gold miner sues Zimbabwe central bank for not paying in dollars

May 17 2019 06:00

Zimbabwe’s biggest gold producer sued the country’s central bank for $132m because it has been paying for the metal in a local quasi-currency rather than US dollars.

Mining

Anglo to build a new diamond-mining boat in next growth move

May 16 2019 14:50

Anglo American will build a new diamond-mining boat to operate off the coast of Namibia, where it finds some of its most expensive stones, in the latest sign the company is willing to spend on growth.

Mining

Military stake stymies R57bn Zim platinum project

May 15 2019 12:40

A plan to build Zimbabwe’s biggest platinum mine at a cost of about $4bn, about R57bn, is floundering because a military stake in the project has deterred potential backers, according to people familiar with the funding discussions.

Mining

Lonmin CEO still backs Sibanye offer even as profit rebounds

May 10 2019 14:43

While some analysts have questioned the value of Sibanye’s offer, Lonmin Chief Executive Officer Ben Magara continues to recommend it, saying the rebound in earnings isn’t sufficient to resolve the company’s long-term challenges.

Mining

Drop in demand for gold jewellery - survey

May 11 2019 11:09

Gold jewellery manufacturing in the world declined 4% year-on-year to 2 129 tonnes in 2018, according to the recently released Refinitiv GFMS Gold Survey 2019.

Mining

Race for AngloGold assets may pit Sibanye against rival Harmony

May 10 2019 09:58

Sibanye Gold faces competition from two rivals if it wants to buy South African gold mining assets that AngloGold Ashanti plans to sell.

Mining

SA gold output extends biggest drop in a decade

May 09 2019 13:47

Gold production shrank for an 18th straight month in March, extending the longest run of contractions since the financial crisis.

Mining

Potential sale of AngloGold mine puts jobs at risk - union

May 09 2019 20:03

The announcement by AngloGold Ashanti that it is reviewing the possible sale of its remaining mining operations in SA prejudices job security, claims a union.

Mining

AngloGold to review sale options for SA business

May 09 2019 07:59

AngloGold Ashanti say it’s reviewing options to sell its South African business, including Mponeng - its last underground mine in the country.

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Mining

Sibanye ordered to temporarily shut platinum mine after trapped miners incident

May 02 2019 12:50

Sibanye Gold was ordered to shut down the shaft at its Rustenburg platinum mine where 1 800 workers were trapped for as long as 10 hours on Tuesday due to an accident with an underground transport system.

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