Creamer Media’s Resources Watch highlights some major events that took place during the year.
1. New Anglo American CEO Mark Cutifani to focus on value creation (RW 133)
Diversified miner Anglo American’s new CEO Mark Cutifani has indicated that his initial focus will be to find ways to improve value creation within the company.
2. No need to go deeper to grow company – Sibanye Gold (RW 128)
The newly listed, proudly-South African Sibanye Gold, unbundled out of Gold Fields, doesn’t have to go deeper to grow the business, says CEO Neal Froneman.
3. Struggling SA is now smallest piece of Gold Fields’ Australia-heavy production (RW 151)
Gold Fields – which was once South Africa’s second-largest gold producer – says that it has “improved its sovereign risk profile” by cutting its South Africa production, which is the smallest of its four global regions, and dramatically increased its Australian production base to its biggest by far.
4. Transnet holds its R307.5bn investment line despite sluggish economy (RW 142)
State-owned freight logistics group Transnet has made only marginal adjustments to its R307.5-billion Market Demand Strategy, despite South Africa’s slower-than-expected economic recovery, a modest growth outlook and softening volumes. It’s also extended the rolling seven-year investment plan by a further year to 2020.
5. Bakubung is ‘absolutely viable’ despite a challenging market (RW 127)
JSE-listed Wesiswe Platinum’s new COO Paul Smith said he had confidence in the viability of the company’s flagship Bakubung platinum project, in the North West province, despite the volatile nature of South Africa’s platinum sector.
6. Patrice Motsepe says SA must instil new confidence in global investors (RW 130)
African Rainbow Minerals executive chairperson Patrice Motsepe says that South Africa will benefit greatly if it succeeds in instilling new confidence in the global investment community.
7. Coal of Africa prepares to offload its Mpumalanga thermal coal mines (RW 131)
Aim-, ASX- and JSE-listed coal junior Coal of Africa Limited is going all out to dispose of its non-core thermal coal mines in Mpumalanga, which are diverting attention away from the company's higher-value coking coal projects.
8. Harmony keeps the Kusasalethu mine shut, hopes to resume production by July (RW 124)
South Africa’s third-largest gold producer Harmony Gold said in January this year its Kusasalethu gold mine would remain closed until it was able to operate safely and profitably. The company had delayed the post-festive-season reopening of the Carletonville-based mine to review its financial and operational status after a series of strikes at the operation.
9. Wesizwe Platinum advances the development of its flagship Bakubung mine (RW 136)
JSE-listed Wesizwe Platinum continues to advance the development of its flagship Bakubung mine, in the North West province, with the headgear construction some three-quarters complete and the primary shaft at a depth of 120 m at the end of the presink stage. Natalie Greve reports.
10. AngloGold Ashanti could cut $500-million in costs (RW 137)
Gold major AngloGold Ashanti is to remove $500-million of operating costs, seek to dispose of Navachab mine before year-end and dress up another mine for a possible further asset sale this year.
That’s a roundup of some of the headline makers for 2013. Stay logged on to MiningWeekly.com to see which industries will steal the show in the coming year.