Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry.
This week:
A billion-rand cash burn at Amplats’ loss-making mine.
And, Kumba Iron Ore feels the tailwind of a two-year wage agreement.
Anglo American Platinum suffered a R1-billion negative cash outflow at its loss-making Rustenburg platinum mine in the six months to June 30, while it’s Union Section, which is the other part of its restructure request that has led to the prolonged consultations with government and labour, 'burnt' R350-million in the same period.
Anglo American Platinum CEO Chris Griffith
Iron-ore miner Kumba Iron Ore is feeling the tailwind of its two-year wage agreement, which means it won’t have to negotiate remuneration at a time when the employee relations in the mining sector remain difficult.
Kumba Iron Ore CEO Norman Mbazima
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