11/05/2012 (On-The-Air)

Yet another black-controlled manganese mine is being built in South Africa’s richly endowed Kalahari Manganese Basin; The first major step has now been taken towards the realisation of an ambitious new South African dream – the local...

Anglo puts State back into steel, competitive bid for Ezulwini, CoAL beating odds at Vele

Diversified miner Anglo American has put the South African State back into steel making;TSX- and JSE-listed gold-and-uranium miner First Uranium is about to face minority shareholder resistance over its recent disposals; and Coal of Africa Limited...

Anglo American sells Scaw to IDC-led group in R3.4bn deal

Diversified miner Anglo American on Tuesday announced the final stage of the $1.4-billion Scaw Metals Group divestment with the sale of integrated steelmaker Scaw South Africa to an investment consortium led by South Africa’s State-owned...

Glencore acquires controlling stake in Optimum Coal

Commodities trader Glencore International said on Tuesday it had acquired a further 36.56% interest in the Optimum Coal, following unconditional approval by the South African competition authorities. The consortium now holds directly and...

Hyperactive Glencore nabs Namibian zinc mine

JOHANNESBURG (miningweekly.com) – The hyperactive London-listed Glencore, headed by the South African-born Ivan Glasenberg, has bought the age-old Namibian zinc mine, Rosh Pinah, in a pair of rapid-fire Southern African transactions.

Pan African announces board changes

Cyril Ramaphosa has resigned as nonexecutive chairperson of Africa-focused precious metals producer Pan African Resources, with immediate effect, the company reported on Wednesday. Keith Spencer, Pan African’s current deputy nonexecutive...

Optimum says Glencore to make offer next year

JSE-listed Optimum Coal said on Wednesday that a Glencore consortium would not pursue a general offer anymore and that it would make a mandatory offer next year. The mandatory offer would be made before the end of the first quarter of 2012,...

Planning commission says rights certainty crucial, takes swipe at nationalisation

South Africa needs to address uncertainties over ownership, tax treatment and allocation of mineral rights if it is overcome the current constraints to mining growth and investment, the National Planning Commission’s (NPC’s) inaugural...

Industrial action hits Optimum Coal output

Industrial action impacted on JSE-listed Optimum Coal’s first-quarter production performance, with output declining by 11%. Optimum Coal, which Glencore and local businessperson Cyril Ramaphosa want to buy, produced 3.755-million tons of...

Optimum Coal says alternative bidder withdraws

JSE-listed Optimum Coal, which Glencore and local businessperson Cyril Ramaphosa want to buy, said on Friday that an alternative bidder has withdrawn its interest in acquiring a controlling stake in the miner. Global commodities trader Glencore,...

Glencore raises stake in Optimum to 23.9%

Global commodities trader Glencore International has increased its stake in South African coal miner Optimum Coal to 23.9%, from 14.2%. Glencore, through its wholly owned subsidiary Piruto, bought 24 628 409 shares in Optimum at a higher average...

Glencore, Ramaphosa propose cash takeover of Optimum Coal

A consortium including global commodities trader Glencore and South African businessperson Cyril Ramaphosa on Tuesday proposed a cash offer of JSE-listed Optimum Coal, which values the company at R8.5-billion. The consortium expressed an interest...