State-owned Transnet Freight Rail (TFR) has embarked on a ramp up of GF-class coal trains from 21 a week to 28 a week, supported by an injection of locomotives. This is part of Transnet’s recovery plan initiatives, and a commitment made to the City of uMhlathuze leadership and other stakeholders during the Stakeholder Collaboration on Truck Congestion Solutions meeting held in the Port of Richards Bay, in KwaZulu-Natal, on November 21 last year.
Epiroc acquires South African rock drilling parts maker Weco
Swedish equipment manufacturer Epiroc has successfully acquired Weco, a South African manufacturer of precision-engineered rock drilling parts.
Weco has been operating in Krugersdorp, Gauteng, for more than 40 years, serving mainly underground mining customers in the Southern Africa region.
Anglo American boosts London’s FTSE 100 to near record high
Britain’s FTSE 100 opened near record highs on Friday, boosted by Anglo American after Reuters reported Glencore is exploring an approach for the miner, while Diageo advanced after naming a new chief financial officer. The blue-chip FTSE 100 was up 0.3% by 0709 GMT, a whisker away from a record high, and is set for a second straight week of gains.
Glencore studying an approach for Anglo American, sources say
Commodities group Glencore is studying an approach for Anglo American, two sources said, a development that could spark a bidding war for the 107-year old mining company.
Glencore has not yet approached Anglo, one of the sources said. The discussions are internal and preliminary at this stage and may not result in an approach, the source added.
Thungela announces passing of Thero Setiloane
Johannesburg Stock Exchange-listed coal mining company Thungela Resources has announced the passing of Thero Setiloane, who served as an independent nonexecutive director of the company. “His contribution to the group, his in-depth knowledge of the mining sector, and his warm personality will be missed,” Thungela stated in a Stock Exchange News Services announcement on Thursday.
Anglo bidder BHP intends maintaining long-standing JSE listing
Diversified mining major BHP, which has made a rejected proposal to combine with Anglo American by way of a scheme of arrangement, confirmed on Thursday that it intended maintaining its multi-decade listing on the Johannesburg Stock Exchange (JSE). BHPalso emphasised that, under its Anglo proposal, South Africa would continue to benefit from Anglo American Platinum and Kumba Iron Ore operating as independently listed South African companies investing in local operations, communities, and jobs.
Opinion: The MPRDA and its impact on future mining investments in South Africa
In this article, Webber Wentzel partner Bruce Dickinson writes that the implications of the Mineral and Petroleum Resources Development Act (MPRDA) on investment dynamics in South Africa have come under scrutiny.
Discovery, development are mining’s only true value creation drivers, Barrick highlights
Discovery and development are the only true drivers of value creation in the mining industry, Barrick president and CEO Dr Mark Bristow highlighted on Wednesday, when this standout gold and copper mining company once again declared a dividend in reporting its first quarter results that position the company well to meet its full year targets. The year-on-year net earnings per share of the New York- and Toronto-listed company headed by South African-born Bristow increased by 143% for the quarter, while adjusted first-quarter net earnings per share grew by 36%. (Also watch attached Creamer Media video.)
BHP woos South Africa in pursuit of $39bn Anglo takeover
BHP Group has deployed a team of senior executives to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American. The executives have already begun conversations with key stakeholders, focusing on explaining the detail of the existing $39-billion proposal – currently back on the drawing board after it was rapidly rejected by its target – and its benefits, according to people familiar with the matter.
Rick Menell joins Perseus board as nonexec director
Mining veteran Rick Menell has joined the board of Africa-focused gold producer Perseus Mining as a nonexecutive, independent director.
“I am extremely pleased to welcome Rick Menell to the board of our company. Rick is a very high calibre individual whose diverse work and life experiences will bring new perspectives that will be invaluable in helping Perseus reach its full potential.
“His deep understanding of the people and the mining industry on the African continent is perfectly suited to joining the leadership team of a growing, Africa-focused company like Perseus, that has ambitions to become a leader of the gold mining industry on the continent,” says Perseus chairperson and CEO Jeff Quartermaine.