Gold Fields, the world’s number four gold producer, said on Friday it would fight fraud claims against a unit of the group totalling R11-billion.
South Africa’s giant mining companies were badly hit by a strike on Wednesday over rising power, food and fuel prices.
South African mine workers started striking on Wednesday as part of a mass action over rising power, food and fuel prices.
State-owned power utility Eskom said on Thursday it was confident South Africa could get through the winter months without power cuts.
South Africa’s biggest miners’ union said on Wednesday it would down tools on August 6 in a national strike that could halt production.
Gold Fields said on Monday it would invest in its own emergency power generation for its South African operations at a cost of R200-million.
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/ 22 February 2008
Eskom wants the country’s energy regulator to raise a 14,2% tariff hike it granted the utility last year, citing escalating coal prices as it battles a nationwide power crisis. Eskom, which generates most of its electricity from coal, said on Friday it wants tariffs hiked even more than the 18,7% it had initially requested last year but which was rejected by the regulator.
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/ 7 February 2008
Zimbabwe’s draft mining Bill will not force firms to give a stake to the government for free as previously feared, and will be debated by Parliament after elections next month, a senior official said on Thursday. The government of President Robert Mugabe, who is running for another five-year term, published the Bill last November.
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/ 29 January 2008
The world’s third-biggest gold producer said on Tuesday it had restarted production at one of its mines, although a power shortage that has curbed output from South Africa’s mining sector remained largely unresolved. AngloGold Ashanti said it had diverted its power-supply allocation to resume full production at one of its seven South African mines.
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/ 28 January 2008
South African mining companies hope to resume production later this week after being allowed to carry out underground maintenance work in mines across the country that have been crippled by a power crisis. Analysts estimated that hundreds of millions of rand had already been lost as the halt on mining entered its fourth day on Monday.