Glencore approaches Xstrata with merger of equals

Diversified miner Xstrata said on Thursday it was in discussions with its major shareholders Glencore about a possible all-share merger of equals. Under UK takeover rules, the Ivan Glasenberg-led Glencore has until March 1 to announce whether it...

Goodlace a ‘good choice’ for Implats

Platinum mining company Impala Platinum’s (Implats') choice of Terence Goodlace, from Metorex, as CEO and executive director was described as a ‘good’ appointment by company watchers on Tuesday. Vestact analyst Sasha Naryshkine told Mining...

Chinese seen as most likely rival suitor eyeing Metorex

A Chinese consortium is seen as the “most likely” party to make a counteroffer for JSE-listed base metals miner Metorex, analysts speculated on Monday. Brazil’s Vale announced a R7.5-billion offer for Metorex in April, but the South...

R&E expects big spike in half-year earnings

JSE-listed Randgold & Exploration (R&E) said in a trading statement on Tuesday that the company expected to report earnings of between R10,50 a share and R11,05 a share for the six months ended June 30. This is about a 1 000% rise compared with...

Anglo Platinum's 2009 earnings to take a knock

South Africa’s Anglo Platinum (Angloplat), the world’s largest producer of the precious metal, expects to report significantly lower full-year earnings when it releases its 2009 results early next month. The company warned shareholders on...

Daily podcast – December 11, 2009

Oryx Investment Management calls for an EGM of shareholders of Simmer & Jack Mines gold company; and SA's mining production for October decreased by 8,5%.

SA mining output down 8,5%, platinum drops 19,3%

South Africa’s mining production for October decreased by 8,5%, compared with the same month in 2008, official statistics showed on Thursday. Copper production decreased by 32,9% year-on-year, while diamond production plunged by 43,4%. Gold...

Daily podcast – May 28, 2009

In today's podcast: Fortescue Metals Group says Chinese steel mills are unlikely to get a better deal for iron-ore purchases than the 33% reduction agreed by rivals; and the settlement between Rio Tinto and Japanese steelmakers to cut iron-ore...

Global iron-ore price cut does not bode well for Kumba – analyst

A settlement between Rio Tinto and Japanese steelmakers to cut iron-ore prices by one-third might not bode well for South African producer Kumba Iron Ore (KIO) when it negotiates prices with its customers later in the year, analysts said on...

Daily podcast – May 15, 2009

In today's podcast: Australia appears to be put under pressure to clear the stalled Rio Tinto-Chinalco transaction; and South Africa's mining output figures are still not looking good, but some sort of a base is starting to build.

SA’s first-quarter mining output down 12,8%

While South Africa’s mining output figures were still not looking good, some sort of a base was starting to build, fund manager Vestact director Sasha Naryshkine said on Thursday. South Africa’s total mining production for March was down 4,6%...

Absa Capital mulling suite of commodity-linked ETFs

The investment banking arm of Absa, Absa Capital, was planning the launch of a series of commodity-linked products, one of which would be an exchange-traded fund (ETF) linked to platinum. Absa Capital head of ETFs Vladimir Nedeljkovic confirmed...