Business In The News South Africa

Amplats H1 earnings hampered by post-tax impairments, stronger rand and lower PGM sales volumes

JOHANNESBURG, July 24 – Anglo American Platinum (Amplats) on Monday reported declined earnings as a result of an impact of an attributable post-tax impairments of R2.2 billion, stronger rand and lower platinum group metals (PGM) sales volumes in its interim results for the six months ended 30 June 2017. Of the R2.2 billion post-tax impairment, R0.3 billion […]

Business In The News South Africa

Sibanye Gold appoints COO for the United States Region

JOHANNESBURG, July 24  – Sibanye Gold on Monday announced the appointment of Ken Kluksdahl as chief operating officer for the United States region. This comes as Sibanye earlier this month appointed Chris Bateman as executive vice-president of the United States region to head and lead the team at the Stillwater Operations. Kluksdahl, who originally hails from Montana, […]

Business In The News South Africa

Zwane to visit Tau Lekoa mine in NWest following seismic incident trapping four miners

ORKNEY, July 23 – Mineral Resources Minister Mosebenzi Zwane will on Sunday afternoon visit the Tau Lekoa gold mine in Orkney, in the North West following a “serious seismic” incident, his department said. The incident on Saturday afternoon left four mine workers trapped underground, the department said in a statement. The bodies of two of […]

Business In The News South Africa

Eskom ‘galloping’ towards financial distress, says NUM

JOHANNESBURG, July 20 – The National Union of Mineworkers (NUM) on Thursday said Eskom was heading for financial distress despite the power utility’s assurances this week that it was on firm financial footing. Eskom released its 2016/17 financial results on Wednesday in which it said earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 14.4 percent to […]

Business In The News South Africa

Vodacom minority shareholders in favour of Safaricom acquisition

JOHANNESBURG, July 20 – Vodacom Group said on Tuesday that minority shareholders overwhelmingly voted in support of its proposed acquisition of a 35 percent stake in Safaricom, clearing an important hurdle for the transaction. Safricom is Kenya’s leading integrated communications company, serving over 28 million customers with over 100 different product offerings under its portfolio. As the biggest communication company in East and […]

Business In The News South Africa

Amplats Q2 production hikes 5% despite challenges

JOHANNESBURG, July 20 – Anglo American Platinum (Amplats) reported on Thursday a five percent total platinum production increase to 617,000 ounces in the second quarter ending 30 June, with strong performances from Mogalakwena, Amandelbult and Unki mines. Amplats said Mogalakwena production increased by 15 percent to 113,900 ounces due to a strong increase in built-up head grade. Amandelbult production […]

Business In The News South Africa

NUM concerned about ‘intimidation’ of workers at PMG Mine

JOHANNESBURG, July 18 – The National Union of Mineworkers (NUM) on Tuesday said it was “deeply worried” about intimidation, harassments, suspensions and assaults of its members by the mine management at the PMG Mine in the Northern Cape. “The company has employed the services of heavily armed security guards to harass, intimidate and assault NUM members at the mine,” alleged the […]