Palabora expects big jump in FY earnings

JSE-listed copper producer Palabora said on Friday its headline earnings for the 12 months to the end of December could more than double. Headline earnings could rise to between R1.44-billion and R1.56-billion, compared with R594-million reported...

Magnetite dump project unhindered by Palabora sale

JOHANNESBURG (miningweekly.com) – The decision of mining majors Rio Tinto and Anglo American to dispose of Palabora Mining is not hindering the building of a pilot plant to convert stockpiled magnetite fines at the operation into metallic iron.

Rio and Anglo to sell Palabora shareholding

Mining majors Rio Tinto and Anglo American on Monday announced that they planned to sell the nearly 75% that they hold in South African copper producer Palabora. Rio Tinto decided to sell its 57.7% shareholding in Palabora owing to the “limited...

Palabora Q1 refined copper production down 15%

South African copper producer Palabora said on Tuesday that first-quarter refined copper production fell by 15% to 14 800 t. Production was impacted by winder slowdowns at the company’s underground mine in Limpopo in January. Palabora replaced...

Rio-BHP venture in SA gets new MD, McRae moves to Oyu Tolgoi

South Africa's Richards Bay Minerals (RBM), joint-venture company between BHP Billiton and Rio Tinto, on Friday said that Dr Elaine Dorward-King would replace Cameron McRae as MD of the company in December. McRae will leave RBM to become the...

Palabora posts 60% earnings decline, 'cautiously optimistic' for 2010

JSE-listed Palabora Mining earned R284-million in 2009, a decrease of 60% compared with net profit a year earlier, because of lower copper prices. Headline earnings for the year declined R5,98 a share, compared with R14,93 a share in the previous...

Palabora reports lower Q4 output

JSE-listed copper-miner Palabora Mining on Wednesday reported that production for the fourth quarter was 13% lower than the previous quarter, and 14% lower than the previous corresponding period. Daily production from the underground mine...

New initiative sees Palabora’s staff turnover decline from 42% to 10% in two years

The rising consumption of commodities in a shrinking global village brought with it some business challenges, with the retention and attraction of key skills in the mining sector being a focus point in maintaining a competive edge, states...

Daily podcast – August 5, 2009

Barrick Gold eyes global M&A opportunities; and Zambia's Baluba copper mine will resume operations in December.

Debt-free Palabora declares dividend, net cash up by R400m

Debt-free JSE-listed copper-miner Palabora, which increased magnetite sales by 47%, has declared a dividend and increased its net cash position by R401-million in the six months to June 30. The Rio Tinto-managed and Anglo American-coowned company...

Palabora expects earnings to fall 70%

JSE-listed copper producer Palabora on Thursday warned shareholders interim basic earnings and headline earnings could fall by around 70% in the six months ended June 30. Basic earnings and headline earnings were likely to be between R134-million...

Palabora Q2 copper concentrate output down 14% on ’08

JSE-listed copper producer Palabora’s daily production from its underground mine in South Africa averaged 33 066 t for the second quarter, the Rio Tinto subsidiary reported on Tuesday. The production during the quarter was slightly above the...