African Rainbow Minerals has agreed to purchase Anglo American Platinum’s mothballed Bokoni platinum mine (BPM) in South Africa's Limpopo Province for US$221 million (R3.5 billion). The deal comes after a collection of the world’s biggest platinum miners declared record dividends this year based on rebounding demand...
Northam Platinum Holdings has trumped fellow JSE-listed miner Impala Platinum’s (Implats) agreement to buy out Royal Bafokeng Platinum (RBPlat) with its own US$1.1 billion deal for a major 33.3% stake in the South African PGMs producer. The controversial new sale of shares agreement between Northam and...
The chief executive of Sibanye-Stillwater has floated the idea of South Africa’s biggest mining companies merging to rival the world’s largest gold producers Newmont and Barrick Gold. Neal Froneman said he believed that combining Sibanye with fellow JSE-listed miners Gold Fields and AngloGold Ashanti would be...
Trading analysts are anticipating further gains for precious metals in 2021, with silver set to deliver the strongest price rise against a backdrop of the global economic recovery from the COVID-19 crisis. The pandemic compelled investors to protect their wealth by pouring funds into ‘safe haven’...
As South Africa’s platinum giants continue wage talks with labour unions, it has emerged that producers could push towards a pay settlement figure given to gold miners by Sibanye-Stillwater earlier this year. Sibanye agreed to increase the pay of workers at its three gold mines by...
The world’s biggest platinum mining companies will meet with South Africa’s labour unions this month to negotiate a three-year wage deal, in one of the first tests of Cyril Ramaphosa’s new presidency. Tensions are rising in the platinum sector on both sides and there are...
Anglo American has reported a 6% year-on-year production rise for the second quarter of 2018, driven by higher copper and metallurgical coal output. Copper production increased by 12% to 158,000 tonnes, driven by higher grades, while coking coal soared by 33% to 5.3 million tonnes, but...
Anglo American has released positive third quarter results including an increase in production guidance for its Kumba Iron Ore subsidiary. The world’s fifth-largest miner has lifted Kumba’s production guidance by an additional 1 million tonnes (Mt) to between 42-44Mt for 2017. The overall rise is based on...
South Africa-focused miner Lonmin (LSE:LMI) will move its head offices from Johannesburg to its Marikana operations in a cost-cutting strategy. The platinum producer reported a half year operating loss of US$199 million, compared to a loss of $21 million the previous year, as the firm was...
Shareholders of Sibanye Gold have approved the company’s US$2.2 billion buyout of US-based Stillwater Mining, which was agreed back in December 2016. Following a recent shareholder meeting, the South African miner announced that 82% of the firm’s shareholders voted in favour of the deal. This conclusive vote...