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.
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.
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.
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.
Ironveld appoints Kristoffer Andersson CEO
London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, has appointed Kristoffer Andersson CEO. He succeeds Martin Eales, who stepped down as CEO in February.
Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM
Anglo American’s chair will meet its top 30 shareholders to hear views on BHP’s $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing the spurned offer by takeover regulations.
Anglo rejected the offer on Friday, saying it was opportunistic, significantly undervaluing the company and its future prospects.
Anglo’s copper assets worth $35bn, report shows
Anglo American’s copper assets are valued at about $35-billion and, if BHP aims to clinch these prized operations, the miner must substantially enhance its offer for its competitor.
This is according to a report by CreditSight analysts Wen Li and Michael O’Brien, who estimate Anglo’s enterprise value at $63-billion.
Barrick CEO ‘can’t see any reason’ for in-person AGMs
Barrick Gold’s CEO says the gold miner will continue to host virtual-only annual general meetings despite calls for public companies to return to an in-person format.
After Barrick hosted its latest virtual-only AGM on Tuesday, CEO Mark Bristow said he “can’t see any reason” to return to in-person sessions. Back when the company was holding in-person annual meetings, they were routinely attended by activists and non-governmental organizations, such as MiningWatch Canada, that have accused Barrick of human rights abuses in Africa.