World number six gold-miner Harmony Gold has issued Section 189 notices of restructuring at four more shafts, a Solidarity spokesperson said on Tuesday. "Harmony is restructuring as we have excess labour at the current rand environment," Harmony marketing director Ferdi Dippenaar said.
Shares in retail group Spar rose by 1,4% on the JSE Securities Exchange (JSE) after the company said its saw its earnings increasing during its current interim period. Spar on Monday announced that earnings per share for the six months ending March 31 2005 will be between 20% and 30% higher than earnings for the previous corresponding reporting period.
South Africa’s National Union of Mineworkers on Wednesday in a statement accused the South African mining industry and the government of not paying enough attention to safety. The statement followed Wednesday’s earthquake at DRDGold’s Hartebeestfontein gold mine in the North West province.
South African transport parastal Transnet and mining group Kumba Resources on Monday announced that they had signed a new iron ore contract and had agreed on the expansion of Transnet’s rail and port infrastructure to allow Kumba to expand its iron ore output by 10-million tonnes by 2009.
Global resources group BHP Billiton on Tuesday announced that it has made a $7,3-billion counter-bid for Australian mining group WMC Resources. On November 22 last year, mining group Xstrata announced that it would bid to take over WMC Resources, offering WMC Resources’ shareholders Aus$7 cash per share. BHP Billiton is offering $7,85 per share.
South African oil and chemicals group Sasol on Tuesday touched a fresh high on the continued strength in the dollar oil price and a weaker rand, brokers said. At 11am, Sasol’s shares were quoted at R146,60 on the JSE Securities Exchange, up 60 cents or 0,4% from its previous close. Earlier, Sasol touched R147,50.
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/ 28 February 2005
South African oil and chemicals group Sasol on Monday touched yet another all-time high on bullish sentiment toward the stock driven by the high oil and chemical prices, a re-rating of the stock by foreign investors and positioning ahead of the group’s latest interim results due next Monday, analysts said.
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/ 25 February 2005
World number one diamond-miner De Beers said in a statement on Friday said that its planned restructuring at its seven South African diamond mines could see 1 270 people lose their jobs out of a total of 9 442 people employed by De Beers Consolidated Mines. Global resources group Anglo American has a 45% stake in De Beers.
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/ 22 February 2005
South African oil and chemicals group Sasol on Tuesday touched an all-time high on the JSE Securities Exchange (JSE) on the group’s strong earnings outlook. On Tuesday, Sasol announced that it expects that its headline earnings per share for the half-year ending December 2004 to be about 60% higher than in the previous comparative period.
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/ 16 February 2005
Global resources group BHP Billiton on Wednesday climbed to an all-time high on the JSE Securities Exchange of R80 a share on better-than-expected interim results. At 9.10am, BHP Billiton was quoted at R79,85 rand, up 2,7% or R2,10 from the stock’s previous close of R77,75.