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:
Harmony keeps the Kusasalethu mine shut, but hopes to resume production by July.
Amplats strike impacts on 2013 supply.
And, the distressed platinum sector offers merger and acquisition opportunities.
South Africa’s third-largest gold producer Harmony Gold says its Kusasalethu gold mine will remain closed until it is able to operate safely and profitably. The company last week delayed the post-festive-season reopening of the Carletonville-based mine to review its financial and operational status after a series of strikes at the operation.
Harmany Gold CEO Graham Briggs
Prolonged wildcat strikes at Anglo American Platinum’s projects in the last quarter of 2012 will contribute to an estimated 191 359 oz platinum deficit, with South Africa’s largest platinum provider having lost about 3 613 oz/day during protest action that continued for longer than eight weeks.
Johnson Matthey principal analyst Alison Cowley
The South African platinum industry may be in distress, but it does present opportunities for companies that are intent on acquisitive growth and have a good balance sheet.
Deloitte executive Ebrahim Takolia
For mining news as it breaks, stay logged onto Mining Weekly.com and register for our free daily newsletter.