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 […]

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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, […]

Business In The News

2017 the year of action for mining industry, says SA Minerals Minister Zwane

CAPE TOWN, February 6 (ANA) – South African minister of Mineral Resources, Mosebenzi Zwane, assured investors and stakeholders on Monday that the government would act on finalising outstanding mining legislation and deal with uncertainty in the mining industry. Delivering a keynote address at the opening of the “Investing in African Mining Indaba” in Cape Town, […]