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De Beers cuts workforce by 4 700 this year
Diamond Giant De Beers has cut its global workforce by 23%, or 4 700 positions, this year so far.
Lonmin suspends all opencast operations
Lonmin on Tuesday said it planned to suspend all its opencast operations from the end of this year as it scales back on unprofitable ounces.
Stratton won’t return to SA, denies bribing Selebi
Australian businessman John Stratton is fighting South Africa’s plans to have him extradited in connection with the murder of mining magnate Brett Kebble. Currently living in…
Eskom tariff decision quietly postponed
The National Energy Regulator of South Africa has quietly postponed its final decision on Eskom’s application for a 53% tariff hike to June 18. By Thursday the regulator had not…
Mitsubishi mulls Pebble Bed investment
Japanese engineering and heavy machinery maker Mitsubishi Heavy Industries is reportedly considering a ¥10-billion (R746,5-million) investment in South Africa’s Pebble Bed…
Sasol shareholders okay R25,9bn BEE deal
Petrochemicals giant Sasol on Friday said its shareholders had approved its planned R25,9-billion black economic empowerment (BEE) transaction. The world’s largest producer of…
Replacing petrol pumps to take ‘several months’
The South African Petroleum Industry Association said the replacement of older petrol pumps, which are unable to reflect a price of more than R9,99, would take several months.…
SACP threatens mass action over Eskom price hikes
The South African Communist Party (SACP) on Friday threatened to "take to the streets" in protest against South African power utility Eskom’s proposed electricity hikes. "We will…
Standard Bank loses $1,2bn Zambian oil-import deal
Zambia has ended negotiations with Standard Bank, Africa’s largest bank by assets, to finance a $1,2-billion (R9,7-billion) oil-import deal after the two parties failed to reach…
SA mines to get 5% more power to stem job losses
The South African government has moved to stem the haemorrhaging of jobs in the mining industry by allowing mines to increase their power consumption to 95% of normal usage.…
Platinum price tops $1 900 on supply worries
Platinum cleared the $1 900-an-ounce mark on Monday for the first time in its history as concerns of further supply disruptions due to power shortages continued to plague…
Permanent solutions to energy crisis being sought
Permanent solutions to South Africa’s energy crisis are being sought, Minerals and Energy Minister Buyelwa Sonjica said on Tuesday. "I concede that this situation impacts…
Eskom prunes power supply to mines
In a surprise move, South African electricity utility Eskom has withdrawn its authorisation for the mining industry to increase its electricity use from 80% to 90% on Thursday.…
Gold Fields may close shafts due to power crisis
Gold Fields, the world’s fourth-largest gold producer, on Thursday warned that it may be forced to close shafts and restructure as a result of Eskom’s request that the mining…
Mining losses could hit GDP by R5,6bn
South Africa’s mining industry could lose up to R9,2-billion in revenue and the country’s GDP could take a knock of up to R5,6-billion as a result of the power restrictions…