The major challenge of the mining industry is the imperative of growth, African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Wednesday, when the 25 000-employee ARM reported record financial results.
Former Eskom CEO Brian Molefe has told the Judicial Commission of Inquiry into State Capture that the allegations he made against President Cyril Ramaphosa should not be swept under the carpet, as he continued to pick at the business links the president once had with Glencore.
Diversified miner Glencore says the suggestion that it had involved President Cyril Ramaphosa, who used to be the chairperson of the Optimum coal mine, in the acquisition of Optimum Coal Holdings (OCH) with a view to, or with the expectation of leveraging his influence to achieve amendments to OCH's coal supply agreement (CSA) with power utility Eskom is "false and baseless"
Despite Covid-19-related global economic challenges and uncertainty, African Rainbow Minerals (ARM) on Wednesday reported record headline earnings of R5 039-million for the six months to December 31.
ASX-listed Armour Energy on Wednesday announced plans for a demerger and separate ASX listing for its Northern basin oil and gas business. Armour holds six granted exploration permits and seven exploration permit applications in the McArthur basin, covering some 89 000 km2 in the Northern Territory, along with its 7 900 km2 holdings in Queensland.
JSE-listed coal miner Wescoal has advised that RBFT Investments has extended the timeframe of its offer to increase its shareholding in the company from 56.87% to 85%.
RBFT is a consortium that has the Industrial Development Corporation and Simeka Capital Holdings among its investors.
The federal government’s A$50-million Carbon Capture, Use and Storage Development Fund has officially been launched.
Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the most-active investment bank in the industry.
Barrick Gold CEO Mark Bristow said on Monday that a combination with copper miner Freeport McMoRan "had a lot of logic to it" even though a deal between the companies did not pan out.
Freeport CEO Richard Adkerson told Reuters on Thursday he has no desire to combine Freeport with Barrick or another gold producer.
Coal miner Resource Generation (Resgen) reports that Phase 1 of its two phase strategic review that is considering alternatives for progressing development of its Boikarabelo project, in South Africa's Waterberg, has recently been completed.
The review was initiated in November.