Business In The News South Africa

Sibanye Gold secures two-year wage agreement at Stillwater operations

JOHANNESBURG, June 19 – Sibanye Gold announced on Monday that it has secured a two-year wage agreement with the United Steel Workers of America, International Union, the representative union at its Stillwater Operations in Montana, USA. Last month, Sibanye completed the acquisition of Stillwater, the United State’s sole provider of platinum and palladium, for $2.2 […]

Business In The News

Tharisa splashes out R300mln for mining fleet and converts to owner-operator model

JOHANNESBURG – Tharisa Minerals announced on Thursday that it has entered into a R303.3 million deal to purchase a portion of mining fleet and transfer employees from its mining contractor in a bid to transition to an owner mining model. Tharisa said it would purchase certain existing equipment, strategic components, site infrastructure and spare parts […]

In The News South Africa

Minister Zwane’s Lily Mine promises ‘a publicity stunt’ – NUM youth

JOHANNESBURG – The National Union of Mineworkers Youth Structure (NUM-YS) on Tuesday said it was concerned by Mineral Resources Minister Mosebenzi Zwane’s “continuous failure” to assist workers at Lily Mine, saying his promises were a “populist stunt”. Mine workers Solomon Nyerende, Pretty Nkambule and Yvonne Mnisi were buried alive when the lamp-room container in which […]

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 […]