Loucas Pouroulis bows out 15-year stint at Tharisa
THARISA founder Loucas Pouroulis is stepping down from the board after more than 15 years as chair, handing the role to lead independent director Carol Bell. Pouroulis, who has…
Mining majors chase scale despite failed megadeals
MINING companies are doubling down on mergers, joint ventures and partnerships as soaring project costs and geopolitical pressure make scale increasingly critical, Reuters…
Botswana rules out reckless De Beers spending
BOTSWANA will not compromise its financial stability to increase its stake in De Beers, said Bloomberg News citing the country’s vice president Ndaba Gaolathe. The country, whose…
Former Anglo boss Cutifani joins Northern Star
AUSTRALIA’S Northern Star Resources has appointed former Anglo American CEO Mark Cutifani to its board, Bloomberg reported. Cutifani and mining engineer Peter Rozenauers will…
MMG pushes EU to clear Anglo nickel deal
CHINESE-backed miner MMG has urged European Union regulators to approve its $500m purchase of Anglo American’s Brazilian nickel assets, despite concerns the deal would hand…
Can this lowly priced uranium project make big bucks?
A largely unknown mining junior listed on the London Stock Exchange – Neo Energy Metals, whose current share price is less than 1 pence – is on the point of finalising a deal…
Exxaro sells Moranbah South to Aussie miner for R1.68bn
EXXARO Resources has sold its stake in Australian metallurgical coal mine Moranbah South to Stanmore Resources, a Brisbane-based coal producer, for $105m (R1.68bn). The South…
How Anglo American squandered De Beers’ brand power
QUESTION: What would you call a company valued at $18bn in 2001, $12.75bn in 2011, that is now finding no buyers at $1bn? Something to ponder. Allow me to take a step back.…
Glencore holds whip hand in Anglo-Teck copper JV
GLENCORE is emerging as the pivotal, and potentially obstructive, party in Anglo American’s attempt to unlock the full value of its $50bn tie-up with Teck Resources, as talks…
Can De Beers make diamonds forever again?
So … diamonds are forever, you say. Are we sure about that? The diamond market has, over the past few years, seen a cataclysmic shift that threatens its foundations to the core…
Northam Platinum finally secures “rock star” status
IT has taken some 40 years but Northam Platinum has finally achieved the “rock star” status that the former Gold Fields of South Africa envisaged when it decided to develop the…
Valterra asset level deals most logical option for Northam
IMPALA Platinum and Sibanye-Stillwater distanced themselves from an offer for Northam Platinum on Tuesday, which means Valterra Platinum is the only one likely to have an…
Tighter scrutiny won’t derail mining M&A, execs say
REGULATORY scrutiny of major mining mergers is intensifying as governments focus more closely on critical minerals and security of supply amid geopolitical uncertainty, Reuters…
Diamonds to stay in Anglo Teck until anti-trust approval
IT was goodbye. As chair Stuart Chambers opened the interim results presentation recently for Anglo American, which is due to merge with Canada’s Teck Resources, he said: “I have…
Junior miners find an audience among SA investors despite the risks
IF you think about the number of the JSE’s listed junior miners as a beauty pageant, they’d look more like a turnout from a high school, perhaps, than Miss Universe. Fewer than…
Kumba seals China iron ore deal
Anglo American’s Kumba Iron Ore has agreed a year-long supply deal with China’s state-backed iron ore buyer, China Mineral Resources Group (CMRG), Bloomberg reports. The…
Metals of war: why US Govt has weaponised mining
Eighteen mining companies went public in the past 12 months with one aim in common: an ambition to supply the US government’s defence industry. Assisted by US President Donald…
Petra to sell Finsch after failing to save diamond mine
PETRA Diamonds is to close Finsch mine in South Africa’s Northern Cape after business rescue practitioners found there was no way to save the business. As part of a five-point…
Bokoni Platinum reboot could knock ARM’s cash flow
AFRICAN Rainbow Minerals (ARM) has a colourful track record picking capital projects. It sold its 40% stake in Zambia’s 70-year-old Lubambe copper mine (formerly Konkola North)…
South32’s long road from ‘crapco’ to copper
MATT Daley, the Australian-born CEO of South32, takes over a company far simpler in structure than the demerged assets bequeathed to his compatriot, Graham Kerr. When Kerr made…