R/€ = 15.86 Change: 0.01
R/$ = 14.00 Change: 0.00
Au 1327.20 $/oz Change: 0.92
Pt 841.00 $/oz Change: 10.84


High-flying Amplats sets ‘next wave of strategy’ in motion 

By: Martin Creamer     18th February 2019 Anglo American Platinum (Amplats), which shot the lights out with a set of stupendous cash-splurging, debt-negating, high-dividend-yielding 2018 results, on Monday set its “next new wave of strategy” in motion, which involves extracting the full potential from its operations through people and... 

Vergelegen wine estate in Somerset West completes South Africa’s largest private alien vegetation clearing environmental project after 14 years

26th October 2018 Two eucalyptus trees were ceremoniously felled at Vergelegen wine estate in Somerset West this week (25 October) – and the crash that resounded through the picturesque valley marked the completion of South Africa’s largest private alien vegetation clearing project. A vast area of 2200 hectares of... 

Amplats lifts FY18 production, sales guidance after robust Q3 performance 

By: Nadine James     23rd October 2018 Anglo American Platinum (Amplats) has again revised its full-year platinum group metal (PGM) production guidance upwards and now expects to produce between 5.1-million and 5.2-million ounces on the back of robust third-quarter production. The company initially expected to produce between... 

Anglo completes sale of New Largo to Seriti

By: Simone Liedtke     1st August 2018 Anglo American subsidiary Anglo American Inyosi Coal has completed the sale of the New Largo thermal coal project and the closed Old New Largo colliery, in South Africa, to New Largo Coal, which is co-owned by Seriti Resources, Coalzar and the Industrial Development Corporation. The cash... 

Anglo American, department launch ambitious education programme

By: Marleny Arnoldi     13th April 2018 Diversified miner Anglo American on Friday launched a new education programme, in partnership with the Department of Basic Education (DBE), which will improve outcomes for learners in 100 early childhood development sites and 100 primary and secondary schools that are local to the company’s... 

Transnet rejects claim of no significant mining-linked rail and port investment in 15 years

9th March 2018 Anglo American South Africa deputy chairperson Norman Mbazima argues that a revitalisation of South Africa’s rail and port networks will be key to ensuring a recovery in mining investment. Speaking at the Investing in African Mining Indaba, he lamented that he had not seen any significant rail... 

Anglo concludes R2.3bn sale of Eskom-tied mines to Seriti

By: Anine Kilian     1st March 2018 Anglo American has completed the sale of its Eskom-tied thermal coal operations to broad-based, majority black-owned and -controlled South African mining company Seriti Resources, which is led by CEO Mike Teke, for R2.3-billion. The acquisition includes the New Vaal, New Denmark and Kriel mines,... 

Mbazima urges immediate dialogue on rail, port expansion

By: Martin Creamer     5th February 2018 South Africa’s ability to revitalise crucial infrastructure, especially rail and port networks, is among the key actions needed to bring investment back into the South African mining industry, Anglo American South Africa deputy chairperson Norman Mbazima said on Monday. Speaking on first day of... 

Anglo to sell New Largo assets to Seriti, partners for R850m

By: Anine Kilian     29th January 2018 LSE- and JSE-listed Anglo American is making further progress with its strategy of disposing of its Eskom-tied coal assets, announcing on Monday that it will sell its New Largo thermal coal assets, which are owned by its 73%-held subsidiary Anglo American Inyosi Coal, to New Largo Coal, for... 

CoM should stay away from ‘crook’ Zwane – Pityana 

By: Anine Kilian     4th October 2017 AngloGold Ashanti chairperson Sipho Pityana has urged South Africa’s mining lobby, the Chamber of Mines, to stay away from Mineral Resources Minister Mosebenzi Zwane, whom he accused of not being committed to South Africa’s mining industry. “I fully endorse that the Chamber of Mines stays away... 

Unions back Seriti's purchase of Anglo coal mines

By: Martin Creamer     11th April 2017 Two labour unions on Tuesday publicly backed the sale by Anglo American of coal assets to Seriti, the new black-owned start-up with aspirations to be South Africa’s next mining champion. Both the National Union of Mineworkers (NUM) and the Solidarity union put out statements welcoming the... 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag 

By: Martin Creamer     10th April 2017 A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity... 

Anglo sells coal mines to Mike Teke’s Seriti

By: Martin Creamer     10th April 2017 Diversified mining company Anglo American on Monday announced the sale of its Eskom-tied domestic thermal coal operations in South Africa to a wholly owned subsidiary of Seriti Resources Holdings, a company majority owned by historically disadvantaged South Africans and led by a management team... 

A 300% rally that has investors questioning Anglo’s plan to sell

By: Bloomberg     26th October 2016 When a company quadruples in value over nine months, it’s unusual for the biggest investors to say management has the wrong strategy. But that’s exactly what’s happening with  Anglo American Plc, the mining company that is the U.K.’s best-performing blue-chip stock this year. In February, Anglo... 

Anglo’s top shareholder wants more South African control

By: Bloomberg     6th October 2016 Anglo American’s biggest shareholder wants South African investors to follow its lead and increase their holdings in the century-old miner as it pushes for the creation of a domestic commodities “champion.” “Our role is to make Anglo more South African-owned and controlled,” Public Investment... 

Resources Watch 

18th August 2016 This week: Attractive returns expected from quick-pay iron-ore projects And, Sibanye firming up funding for gold-from-dumps project 

Attractive returns expected from quick-pay iron-ore projects 

By: Martin Creamer     5th August 2016 Keep a look out for the five letters UHDMS, which stand for ultrahigh dense media separation. Outgoing Kumba Iron Ore CEO Norman Mbazima tells Mining Weekly Online that they translate into “mouth-watering” financial metrics. (Also watch attached Creamer Media video). 

Resources Watch  

4th August 2016 World heading for shortage of physical gold; Fuel cell thrust continuing; And, supply and demand fundamentals remain challenging 

Supply, demand fundamentals remain challenging – Kumba Iron Ore 

By: Martin Creamer     26th July 2016 While iron-ore prices seem to have stabilised, supply and demand fundamentals remain challenging, outgoing Kumba Iron Ore CEO Norman Mbazima said on Tuesday. Speaking at the Anglo American group company's presentation of interim results for the six months to June 30, Mbazima said that the global... 

Ndlovu to head Anglo coal

By: Martin Creamer     26th July 2016 Anglo American Platinum (Amplats) operational processing executive head July Ndlovu has been appointed CEO of Anglo American’s coal business in South Africa. This follows the appointment of Themba Mkhwanazi as CEO of Kumba Iron Ore, following Norman Mbazima’s decision to step down after four... 

Kumba generates cash in tough half-year

By: Martin Creamer     26th July 2016 Anglo American company Kumba Iron Ore on Tuesday reported 20% higher headline earnings of R3-billion in the six months to June 30, when its financial performance was supported by strong cash generation. On a normalised basis, the R9.41 headline earnings a share were 4% lower on 11%-less... 

Kumba Iron Ore changes guard

By: Martin Creamer     26th July 2016 Anglo American company Kumba Iron Ore on Tuesday announced the appointment of Themba Mkhwanazi as CEO with effect from September 1, following Norman Mbazima’s decision to step down after four years to focus on his role as deputy chairperson of Anglo American South Africa. Mbazima will remain a... 

Kumba Iron Ore sales down

By: Martin Creamer     21st April 2016 Output from Kumba Iron Ore has tumbled considerably, along with exports. First-quarter production has taken both a quarter-on-quarter and a year-on-year plunge, owing to the Sishen iron-ore mine transitioning to a lower-cost pit configuration. 

Kumba prepares to fight R5.5bn Sars tax assessment

By: Natasha Odendaal     29th February 2016 JSE-listed Kumba Iron Ore on Monday vowed to fight a R5.5-billion South African Revenue Service (Sars) tax assessment. The group said its 73.9%-owned subsidiary Sishen Iron Ore Company (SIOC) had been slapped with the multibillion-rand assessment for the tax years 2006 to 2010, which included... 

Resources Watch  

18th February 2016 This week: Kumba fiscal year earnings down on lower iron-ore price And, Harmony back in black 

Sishen iron-ore mine begins workforce reduction process

By: Martin Creamer     28th January 2016 The Sishen Iron Ore Company on Thursday started its retrenchment consultation process, which affects 3 933 employees and contractors. The Labour Relations Act Section 189 and 189A consultation on workforce reductions – which has already begun for 1 300 contractors – will now be extended to 2 633... 

Anglo halves business units, axes divi, cuts 3 850 plat jobs, halts plat projects as Kumba trembles 

By: Martin Creamer     8th December 2015 The share price of Anglo American fell by more than 12% on Tuesday after the diversified major set out radical portfolio restructuring, further material cost savings, more capital expenditure (capex) reductions, a reduction of the total number of employees to 50 000 and a retention of 20 to 25... 

Amendment of the ArcelorMittal Supply Agreement

6th November 2015 Shareholders are advised that Kumba Iron Ore Limited and ArcelorMittal SA Ltd have agreed to amend the pricing mechanism of the long term supply agreement (for Kumba to supply ArcelorMittal with up to 6, 25Mtpa of iron ore) that they entered into on 5 November 2013.  Kumba and ArcelorMittal have... 

Cape Orchid merchant vessel arrives in Saldanha for Kumba Iron Ore

By: Megan van Wyngaardt     25th September 2015 The first merchant vessel to be registered under the South African flag since 1985 arrived in Saldanha Bay this week to transport 170 000 t of iron-ore from mining giant Anglo American company Kumba Iron Ore’s  Sishen mine, in Kathu, the Northern Cape, to China. The Cape Orchid, a 300-m-long,... 

Resources Watch  

By: Creamer Media Reporter      30th July 2015 This week: South Africa’s new JSE-backed oil and gas code is globally aligned. And, low iron-ore prices are killing jobs at Kumba. 

Low iron-ore price killing jobs at Kumba 

By: Martin Creamer     21st July 2015 South African iron-ore major Kumba Iron Ore has taken the knife to 1 772 jobs as low iron-ore prices cut a swathe through the industry. Out of a previous complement of 572, only 221 permanent and fixed-term employees remained at head office, with the 351 head office jobs cut by the Anglo American... 

Kumba Iron Ore earnings plunge, dividend dumped, mines rejigged

By: Martin Creamer     21st July 2015 The earnings of South African iron-ore major Kumba plummeted in the six months to June 30 accompanied by a shattering of the iron-ore price, the closing of Thabazimbi mine, a rejigging of the remaining mines and a decision not to declare an interim dividend in a company that has been a... 

Kumba starts Thabazimbi closure procedures, 1 200 jobs on the line

By: Creamer Media Reporter      16th July 2015 Kumba Iron Ore has started a Section 189 consultation process with unions regarding the closure of its Thabazimbi mine, in Limpopo, which will affect about 800 employees and 360 contractors. The mine was more than 80 years old and its closure had been postponed six times over the past 15 years... 

Andile Sangqu to head Anglo South Africa 

By: Martin Creamer     28th May 2015 Andile Sangqu, former Xstrata and current Impala Platinum executive and new VP of the Chamber of Mines of South Africa, has sprung to further prominence as the new executive head of Anglo American South Africa. Anglo American plc also announced on Thursday that Kumba Iron Ore CEO Norman Mbazima... 

Kumba sees production increase, but outlook remains cautious

By: Megan van Wyngaardt     23rd April 2015 JSE-listed Kumba Iron Ore’s production for the first quarter ended March increased 7%, to 12.2-million tons, on the 2014 comparative period, declining 2% quarter-on-quarter. The company highlighted that its total export sales volumes increased by 22% year-on-year, but also fell 2% compared with... 

Kumba Iron Ore opens clinic as Minister visits award-winning housing complex

By: Martin Creamer     9th April 2015 Kumba Iron Ore top brass and Mineral Resources Minister Ngoako Ramatlhodi on Thursday launched a new R8.8-million clinic and visited the Anglo American company’s award-winning 718-employee-house complex in the Northern Cape. “We believe that these projects will go a long way in addressing the... 

Resources Watch 

By: Creamer Media Reporter      19th February 2015 Kumba exceeds its 2014 production target, but feels the export price crunch. South Deep hits a ‘low point’ in 2014 as skills deficit and downtime bite. And, Universal aims for midtier status through a portfolio expansion. 

Kumba could close, sell Thabazimbi mine

By: Megan van Wyngaardt     10th February 2015 In light of low iron-ore prices, JSE-listed Kumba Iron Ore was reviewing options for its Thabazimbi mine. Speaking at the company’s year-end results, in Sandton, on Tuesday, Kumba CE Norman Mbazima said that, under the circumstances, the mine was “just not making money”, adding that the company... 

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