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PLATINUM

Implats warns of lower EPS, HEPS

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Platinum miner Impala Platinum (Implats) on Thursday warned that its earnings a share (EPS) and headline earnings a share (HEPS)  for the 2014 financial year would be more than 20% lower than those of the prior year. The five-month strike by...
24th July 2014
 
 
Strategic Framework

S African Cabinet approves five-year plan for NDP implementation

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Jeff Radebe Cabinet approved the five-year Medium-Term Strategic Framework (MTSF) of government on Wednesday, which would serve as the “building block towards the 2030 vision in the National Development Plan (NDP)”. The MTSF, which covers the period 2014...
24th July 2014
 
 
BENEFICIATION

Local beneficiation industry will create global competitive advantage – Davies

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Trade and Industry Minister Dr Rob Davies has re-emphasised government’s commitment to the creation of a viable local minerals beneficiation industry, saying the country could establish a competitive advantage in global markets by leveraging...
24th July 2014
 
 
OIL & GAS

Minister launches drill operation for first SA offshore deep-water well

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Mineral Resources Minister Advocate Ngoako Ramatlhodi on Thursday officially launched the drill operation for South Africa’s first offshore deep-water well, south of Mossel Bay. The well, which would be operated by petroleum company Total, gave...
24th July 2014
 
 
IRON-ORE

Kumba’s cash return to black shareholders

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Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Kumba Iron Ore subsidiary Sishen Iron Ore Company's R1.8-billion return to its black economically empowered entities.
24th July 2014
 
 
DIVERSIFIED MINING

Teck Resources' profit falls as coal prices remain weak

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Canadian diversified miner Teck Resources reported a 44% drop in quarterly earnings, mainly due to "significantly" lower coal prices. Teck said coal prices fell to $111/t in the second quarter from $156/t a year earlier. The company said it sold...
24th July 2014
 
 
MINING EQUIPMENT

Caterpillar posts higher quarterly profit

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Caterpillar on Thursday reported higher-than-expected second-quarter earnings as a rebound in sales to builders offset a continued slump in the mining sector. The company, the world's largest maker of earth-moving equipment, posted a...
24th July 2014
 
 
IRON

Brazil's Usiminas posts profit short of expectations

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Brazilian steelmaker Usiminas on Thursday reported a lower-than-expected quarterly profit as iron-ore prices fell and flat steel demand faltered. Usinas Siderúrgicas de Minas Gerais, as the company is formally known, posted second-quarter net...
24th July 2014
 
 
PLATINUM GROUP METALS

Sylvania beats full-year output guidance, achieves Q4 record

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Sylvania CEO Terry McConnachie Low-cost platinum-group metals (PGM) processor Sylvania Platinum produced 53 808 oz of PGMs in the 2014 financial year, beating its forecast of 51 000 oz. Output for the year also represented a 22% increase on the 44 095 oz produced in the...
24th July 2014
 
 
LABOUR

Ramaphosa hints at labour reforms in wake of strikes

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Deputy President Cyril Ramaphosa South Africa should adjust labour laws so union members have to vote before striking, Deputy President Cyril Ramaphosa said on Thursday, suggesting the government may push ahead with reforms to curb damaging industrial action. The longest and...
24th July 2014
 
 
 
 
 
 
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