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:
Black juniors eye the coal assets of disillusioned foreign companies.
Excessive capex is to blame for low commodities prices, says GlencoreXstrata.
And, Alexkor is set to diversify into coal and limestone.
The current crisis in the South African mining sector is opening up significant opportunities for emerging black junior miners in the coal space, says Wescoal nonexecutive chairperson Robinson Ramaite.
Wescoal chairperson Robinson Ramaite
The newly merged mining giant GlencoreXstrata surprised investors by upping its target for cost cutting from an initial estimate of $500-million to $2-billion. Reuters' Hayley Platt reports.
Video courtesy of Reuters
The Department of Public Enterprises has revealed a “game-changing” plan to diversify State-owned diamond miner Alexkor into a strategic coal and limestone player, as well as a land-mining company, as marine-produced diamond resources waned.
Alexkor CEO Percy Khoza
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