Business In The News

Kumba Iron Ore earnings soar

JOHANNESBURG – Kumba Iron Ore pointed to a set of key interventions that reset the cost base and preserved cash as headline earnings per share (HEPS) increased by 131 percent to R27.30 for the year ended in December 2016, compared to R11.82 the previous year. Kumba, a subsidiary of Anglo American, said controllable costs were […]

Gold Bullion
Business In The News South Africa

Chamber of Mines refutes ‘mis-invoicing’, allegedly tantamount to smuggling

CAPE TOWN – The Chamber of Mines published a second report from economic consultancy Eunomix on Tuesday, which has refuted allegations of “mis-invoicing” by South African mining companies put forward last year in an Unctad report. The Unctad report titled “Trade Mis-invoicing in Primary Commodities in Developing Countries: The cases of Chile, Cote d’Ivoire, Nigeria, […]