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Plans afoot to lay off thousands of mineworkers – Baleni

By: Ilan Solomons     Updated 23 minutes ago National Union of Mineworkers (NUM) general secretary Frans Baleni confirms that local gold producers Sibanye Gold, AngloGold Ashanti and Harmony Gold are undertaking retrenchments at their respective operations across South Africa. “Some of these companies have started offering miners voluntary... 

Plans afoot to lay off thousands of mineworkers – Baleni
JOBS IN JEOPARDY The gold sector is facing “a bloodbath of job losses”

Potash Corp lifts dividend on outlook optimism, reports 75% rise in Q4 profit

By: Henry Lazenby     Updated 46 minutes ago The world’s most significant fertiliser producer PotashCorp of Saskatchewan has lifted its quarterly cash dividend by about 9% on the back of a confident sector outlook as its potash expansion programme was nearing completion. The Saskatoon, Saskatchewan-based miner on Wednesday declared a cash... 

Potash Corp lifts dividend on outlook optimism, reports 75% rise in Q4 profit

FDI flows to Africa fell in 2014, outlook weighed down by weak commodities

By: Terence Creamer     Updated 5 hours ago Foreign direct investment (FDI) inflows to Africa fell by 3% to around $55-billion in 2014, amid an 8% fall in global inflows to an estimated $1.26-trillion, from $1.36-trillion in 2013. In its Global Investment Trends Monitor, the United Nations Conference on Trade and Development (Unctad)... 

 FDI flows to Africa fell in 2014, outlook weighed down by weak commodities

Iron-ore prices at new 5-1/2 yr low as rout takes hold

By: Reuters     Updated 5 hours ago Spot iron-ore prices hit a new 5-1/2 year low on Thursday as more signs emerged of slowing Chinese economic growth, although iron-ore and steel futures in China edged higher on interest from bargain hunters. A deepening iron-ore glut and worries over a sharper economic slowdown in top buyer... 

Global gold output rises, but demand remains muted

By: Natasha Odendaal     Updated 7 hours ago Despite the lower gold price, global mine production continued to grow last year, increasing 2% to an all-time high of 3 109 t, the latest survey by GFMS showed. However, total physical demand fell 19% in 2014 as all areas, with the exception of official sector purchases, registered declines. 

Baobab to select Chinese partner to conduct Tete feasibility study

     Updated 7 hours ago Mozambique-focused miner Baobab Resources was nearing the conclusion of the selection process of a Chinese partner to conclude a feasibility study at its Tete iron project, in Mozambique. The company has been in detailed discussions with steel industry specialists Sinosteel Equipment &... 

NUM ‘shocked’ by Glencore closure plans

By: Natalie Greve The National Union of Mineworkers (NUM) says it is “shocked and saddened” by an announcement this week by diversified mining major Glencore that it was considering the closure of several coal-mining operations in South Africa, including the Optimum coal mine, in Mpumalanga. “The proposed closure... 

Parliament free to decline changes to MPRDA Bill

By: Megan van Wyngaardt Law firm Norton Rose Fulbright South Africa director Lizel Oberholzer says the referral back to the National Assembly of the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill, may potentially result in changes, unrelated to the substantive reservations raised by President... 

Parliament free to decline changes to MPRDA Bill

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