Anglo American to offload stake in Australian coal mine

Anglo American to offload stake in Australian coal mine

Diversified miner Anglo American has agreed to sell its 83.33% interest in the in the Dartbrook coal mine in the Hunter Valley, New South Wales, Australia. Under terms of the agreement, Australian Pacific Coal (APC) as guarantor and a subsidiary of AQC as purchaser, would pay up to A$50-million ($36-million), comprising an upfront cash payment […]

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Crisis excellent opportunity to rescue mining – Motlanthe

JOHANNESBURG (miningweekly.com) – The current crisis in South Africa’s mining industry should be grasped as an excellent opportunity to introduce material change through an effective joint organising body that gets things done within specified timelines. “We’re in a rut and need to pull ourselves out of it together,” says former President of South Africa and […]

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South Africa preparing for ‘worst-case’ maize import scenario – Transnet

South Africa is laying the groundwork in case it needs to import as much as 4-million tons of maize after successive seasons of drought threaten the crop in Africa’s top producer of the grain, which is usually a net exporter. State-run ports and rail company Transet CEO Siyabonga Gama told Reuters in an interview on […]

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Drought, low prices hit Illovo Sugar H1 profits

South Africa’s Illovo Sugar said on Monday a scorching drought in crucial sugar-producing regions and low prices cut its half-year profit by nearly 60%. Headline earnings per share – the main gauge of profit in South Africa that strips out certain one-off items – for the six months to end-September fell to 71.7 cents from […]

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South Africa’s climate change goals could lead to business uncertainty – PwC Back

South Africa’s goal to close the gap between business-as-usual carbon intensity from 4.7% a year to 1.5% a year is ambitious and is starting from a very high base – the highest of the Group of 20 countries, a PwC report has shown. PwC’s Low Carbon Economy Index outlined that the country’s Intended Nationally Desired […]

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Rush to speed Brazil mine permit may be behind dam disaster

Mining companies often complain endless red tape makes it hard to do business in Brazil but prosecutors and environmentalists say burst dams at an iron-ore mine that triggered massive flooding last week point to gaping lapses in regulation. The floodwaters and mudflow killed at least two people and another 25 are still listed as missing […]

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Lonmin cuts workforce, shrinks capex, lowers unit costs

Platinum mining company Lonmin on Monday reported employee cuts, shrinking capital expenditure (capex), lower unit costs and the highest refined platinum production in eight years. But that did not stop the share price of the London- and Johannesburg-listed platinum-mining company from initially falling by as much as 3.8% to 451c a share before closing the […]

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Smallholder farmers must adapt to survive current times

Focus on improving farm management and exploring high-yield farming methods have never been more important for smallholder farmers than at present, says FNB Agriculture information and marketing head Dawie Maree. In a statement released on Thursday, he stressed that the industry was facing its most severe drought in 23 years, among other economic challenges, therefore, […]

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SA companies should seek more UN business Back

South African businesses have been encouraged to increase their participation in the United Nations (UN) procurement processes. UN Procurement Division Field Procurement Service chief Sean Purcell pointed out recently that the amount of goods bought by the UN from South African companies declined from 2009 to 2012, increased in 2013 and decreased again in 2014 […]

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South Africa needs to increase its R&D budget, says Deputy President

The South African government has recognised the need to increase the country’s research and development (R&D) budget. This was stated by Deputy President Cyril Ramaphosa on Thursday at the Council for Scientific and Industrial Research (CSIR), in Pretoria. He was opening the fifth CSIR Conference. He pointed out that Science and Technology Minister Naledi Pandor […]

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