Sappi posts record full-year Ebitda, resumes dividend payment

Renewable resources company Sappi achieved record earnings before interest, taxes, depreciation and amortisation (Ebitda) of $1.34-billion for the financial year ended September 30 – exceeding the... 

Sibanye's South African PGMs output falls on power curtailments, copper cable theft

Battery and precious metals producer Sibanye-Stillwater has maintained its full-year production guidance for its South African platinum group metals (PGMs) operations at between 1.75-million and... 

Tongaat Hulett enters voluntary business rescue

Agroprocessing group Tongaat Hulett's board has determined that the company is in financial distress and has decided to start voluntary business rescue proceedings. The company reiterates in an... 

De Beers' third-quarter output rises on higher grades, strong production in Namibia

Diamond miner De Beers – a subsidiary of diversified mining group Anglo American – increased its rough diamond production by 4% year-on-year to 9.6-million carats for the third quarter ended... 

Amplats' third-quarter refined output falls on Polokwana smelter rebuild, loadshedding

Platinum group metals (PGMs) miner Anglo American Platinum (Amplats) reported a 6% year-on-year decrease in total PGM production to 1.05-million ounces for the third quarter. Production was,... 

Kumba lowers full-year export sales guidance following Transnet strike

South African iron-ore miner Kumba Iron Ore has revised its full-year export sales guidance lower to between 36-million and 37-million tonnes, compared with the previously guided 38-million to... 

Jubilee sees ‘tremendous’ growth potential after completing expansion programme

London- and Johannesburg-listed Jubilee Metals Group has met its production targets for the financial year ended June 30, after having completed its capitalisation and expansion programme. Over the... 

Bushveld considering renewable self-generation options for Vanchem

Vertically integrated primary vanadium producer Bushveld Minerals achieved “solid” production for the quarter ended September 30, despite the negative impact of loadshedding on its Vanchem... 

Thungela says Transnet strike unlikely to have significant impact on export sales

Coal miner Thungela Resources says it does not expect a strike by State-owned Transnet's rail and port employees to have a significant impact on its coal sales for the fourth quarter, unless the... 

Buffalo Coal confirms $27m loan will soon transfer to new owner Belvedere

TSX-V- and JSE-listed Buffalo Coal has advised that private investment fund Resource Capital Fund (RCF) has concluded, for the most part, the sale of convertible debt of $27-million to Belvedere... 

Anglo inks deal to accelerate roll-out of nuGen zero emissions haulage solution

Diversified miner Anglo American is in exclusive negotiations with specialist engineering technology company First Mode Holding and has agreed nonbinding terms to establish a combined business to... 

Anglo enters deal to accelerate rollout of nuGen zero emissions haulage solution

Diversified miner Anglo American is in exclusive negotiations with specialist engineering technology company First Mode Holding and has agreed nonbinding terms to establish a combined business to... 

Gordhan says Eskom, unions reach wage agreement; hopes second day of Stage 6 load-shedding can be avoided

Public Enterprises Minister Pravin Gordhan on Tuesday evening said he was hopeful that Eskom would be able to avoid implementing Stage 6 load-shedding for a second day on Wednesday, after the power... 

South African PGMs explorer raises $19m in IPO ahead of listing on ASX, JSE

South Africa-based minerals explorer Southern Palladium, which is focused on platinum group metals (PGM) and which is headed up by MD Johan Odendaal and chairperson Terence Goodlace, has raised... 

Contango's Zimbabwe coal project starts production

Production has started at London-listed natural resource development company Contango Holdings' Lubu coking coal project, in Zimbabwe. Production is under way on Block 2, which was selected given... 

Wescoal puts Vanggatfontein on care and maintenance as it struggles to secure Eskom CSA extension

Coal miner Wescoal has decided to put its Vanggatfontein Colliery on care and maintenance while it tries to secure an extension to a coal supply agreement (CSA) with power utility Eskom. Wescoal... 

Strong diamond market pushes Lucara's full-year revenue, Ebitda higher

Vancouver-headquartered Lucara Diamond Corporation achieved a more than five-fold year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to... 

Community protests halt construction at Wesizwe's Bakubung mine

Platinum group metals (PGMs) development company Wesizwe Platinum on February 8 informed shareholders that community protests have interrupted the development of its Bakubung mine. It noted that... 

Educatum, Educare – Mediocris

“There are two kind of statistics: the kind you look up and the kind you make up,” so said Rex Stout. For their part, Mark Twain and Milton Friedman stated that “facts are stubborn, but statistics... 

Construction starts on renewable energy project for Rio Tinto's Madagascar mine

The government of Madagascar and Rio Tinto QIT Madagascar Minerals (QMM) on December 10 celebrated the start of construction of a solar and wind energy project that will supply the ilmenite mine... 

Tongaat's shares fall on equity raise plans

JSE-listed Tongaat Hulett's share price fell by nearly 43% on Wednesday after it announced a proposed equity raise to reduce its debt to a more sustainable level. As part of the company's ongoing... 

Sars encouraged by rebuilding efforts

The South African Revenue Service (Sars) was encouraged by the measured progress in rebuilding Sars as an institution, transforming itself into a smart, modern service, Sars commissioner Edward... 

Sibanye advances buyout of Sandouville asset

Precious and green metals company Sibanye-Stillwater has signed a share purchase agreement (SPA) to acquire the Sandouville nickel hydrometallurgical processing facility from French mining and... 

Lucara reports strong third-quarter production, revenue growth

Diamond miner Lucara Diamond Corp's Karowe mine, in Botswana, produced 97 412 ct of diamonds in the third quarter ended September 30, compared with the 88 909 ct produced in the third quarter of... 

Lower PGM, gold prices result in 5% y/y decrease in Sibanye's third-quarter Ebitda

Despite a solid operational performance in the third quarter ended September 30, lower average platinum group metal (PGM) and gold prices resulted in a decrease in precious and battery metals... 

Gem lowers full-year production guidance

London-listed Gem Diamonds, which operates the Letšeng mine, in Lesotho, has lowered its production guidance for the full-year to December 31 to between 110 000 ct and 114 000 ct, compared with the... 

Sibanye expands tailings retreatment exposure through 20% stake in Australian company

JSE- and NYSE-listed Sibanye-Stillwater has entered into investment agreements to acquire a 19.99% shareholding in ASX-listed New Century Resources, which owns the Century tailings zinc retreatment... 

RBPlat's shares rise on buyout offer from Implats

Platinum group metals (PGMs) miner Royal Bafokeng Platinum's (RBPlat's) share price on the JSE rose by more than 23% on Wednesday morning after shareholders were informed that fellow PGMs miner... 

Petra records good first-quarter revenue growth

London-listed Petra Diamonds achieved good revenue growth of 48% year-on-year  to $114.9-million for the quarter ended September 30 – the first quarter of Petra's 2022 financial year. "The company... 

De Beers tightens full-year output guidance at 32m carats

Diamond miner De Beers expects to produce about 32-million carats for the full-year, which is at the lower end of its initial guidance of 32-million to 33-million carats. Reporting on its... 

Amplats reports 'strong' Q3 performance, remains on track to meet FY guidance

Platinum group metals (PGMs) miner Anglo American Platinum (Amplats) remains on track to meet its full-year production and sales targets after a strong third-quarter performance.... 

Kazera to acquire a controlling interest in South African mineral sands company

Aim-listed investment company Kazera Global will acquire a 60% interest in Whale Head Minerals (WHM), which owns two heavy mineral sands (HMS) opportunities in the Port Nolloth/Alexander Bay area... 

DNG welcomes postponement of hearing into Karpowership's RMIPPPP award

Gas-to-power solutions provider DNG Energy has welcomed the decision of the Hight Court in Pretoria to grant its request for the postponement of an application to have the selection of Karpowership... 

Enoch Godongwana appointed Finance Minister; water, human settlements Ministries to be split

In a long-awaited Cabinet reshuffle, President Cyril Ramaphosa on August 5 announced the appointment of Enoch Godongwana as Finance Minister. This follows the resignation of Tito Mboweni. 

Sappi returns to profit in Q3 but expects $16m Ebitda impact from unrest for Q4

Pulp and paper producer Sappi has posted a profit of $18-million for the quarter ended June 30 – the third quarter of its 2021 financial year – compared with a loss of $73-million recorded in the... 

Mkango restores full ownership of Songwe Hill, raises £5.52m

Aim- and TSX-V-listed Mkango Resources will restore its ownership of the Songwe Hill rare earths project, in Malawi, to 100%, which chairperson Derek Linfield says will strengthen the company's... 

Govt renews alcohol ban, announces school closures

Amid a massive resurgence in Covid-19 infections, President Cyril Ramaphosa has announced a renewed ban on the sale of alcohol as the the country moves to an adjusted Alert Level 4 lockdown. In an... 

Botswana delivers another diamond larger than 1 000 ct

Diamond miner Lucara Diamond Corp has recovered a 1 174.76 ct diamond from its Karowe mine, in Botswana. It is the third diamond weighing more than 1 000 ct to be recovered from South Lobe of the... 

Kibo, IGES to develop portfolio of waste-to-energy projects in South Africa

The share price of JSE- and Aim-listed Kibo Energy rose by more than 7% and 3% on the JSE and LSE, respectively, on May 18, after the company announced that it had entered into an agreement with... 

Thousands register for job opportunities at NMP's Sandpiper project

More than 6 000 people have registered for future job opportunities at emerging marine phosphate miner Namibian Marine Phosphate's (NMP's) Sandpiper project, in Namibia. NMP in October launched a...