South32 profits surge as reshaped portfolio delivers
South32 cracked it in the year to end-June more than doubling operating profit from continuing operations and declaring a 5.4 US cents final dividend which boosted the total…
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…
SA miners fear the worst in mineral cadastre rollout
IN May 2024, then Orion Minerals CEO Errol Smart gushed: “I’m coming off an all-time high on hearing this news.” A day earlier, the South African government had signed an…
South32 too risky for predators, says outgoing CEO
AN estimated $34bn in deals has gripped the mining sector since 2024, according to Canadian law firm Dentons. Efforts to consolidate ownership and strip back complicated…
Gold on G20 agenda is key in fight against illegal trade
GOLD’S record-breaking gains have generated joy among its miners — but also worry. Looking beyond the outsized financial gains for investors, the explosion in demand for a…
Colombia to purchase gold from informal miners
COLOMBIA will begin buying gold directly from small-scale producers next month in an effort to combat illegal mining and formalise a booming unregulated sector driven by soaring…
Thungela CEO upbeat despite coal price slide
THUNGELA Resources level-pegged on coal export volumes for the six months to end-June but earnings were clobbered by lower export prices which dropped 11% for South African…
South32 sells Colombian nickel operations amid price collapse
AUSTRALIAN diversified miner South32 has announced it will incur an impairment charge of $130m related to the sale of its Cerro Matoso ferronickel operations in northern Colombia…
Clearly, Mike Fraser didn’t join Gold Fields to play safe
SO much for Africa’s largest gold mine, the sobriquet given to a joint venture (JV) in Ghana between Gold Fields and AngloGold Ashanti. Unveiled in March 2023, the aim was for…
Zambia suspends 15% export duty on emeralds
ZAMBIA has suspended a 15% export duty on emeralds following meetings with the country’s mining sector. Effective on January 1, the export duty would almost certainly have sunk…
Hope for Gemfields as emerald duty “may be revoked”
GEMFIELDS Group said it could resume exports of emeralds from Zambia as a duty on gemstones re-imposed by the southern African country in January “may be revoked”. Commenting in…
Zambia’s debt cover fears may be behind gemstones tax hike
GRIZZLY by name, grisly by nature. Senegalese-owned family business Grizzly Mining flooded the Zambian emerald market to such an extent last year that it forced South Africa’s…
B2Gold cuts dividend as growth strains balance sheet
B2GOLD said on Tuesday it would reduce its quarterly dividend rate in order to improve balance sheet flexibility as it pays for three years of aggressive expansion. The rate…
Gemfields hit by shock 15% export duty on Zambian emeralds
ZAMBIA has imposed a shock 15% export duty on precious gemstones adding further pressure on Gemfields which operates the country’s Kagem emerald mine. Sean Gilbertson, CEO of…
How WGC’s Tait plans to disrupt tyranny of illegal gold trade
TERRORIST groups are tapping into $95bn worth of gold mined by artisanal and small-scale miners, says the World Gold Council (WGC) in a report launched in November. This illegal…
Target kingpins behind illegal mining, says Froneman
NEAL Froneman, CEO of Sibanye-Stillwater said law enforcement authorities should target crime kingpins if they want to stamp out illegal gold mining. Froneman, who is also chair…
South32 backs future with $200m share repurchase plan
SOUTH32 CEO Graham Kerr says the company is well-positioned after its full-year financial results beat market expectations. For the 12 months to June 30, the ASX-listed company…
Illawarra coal sale unconditional, says South32
SOUTH32 said the sale of its Illawara Metallurgical Coal operations in Australia would be concluded in early September after announcing today the $1bn deal was unconditional.…
South32 manganese record eclipsed by $818m write-down
SOUTH32 said on Monday manganese ore production from its Northern Cape mines hit a record 2.18 million tons for the group’s 2024 financial year ended June. But this was small…
South32 gives nod to $2.16bn US polymetallic project Hermosa
SOUTH32 approved a $2.16bn zinc-lead-silver project in the US, as it released first-half results that saw it take a battering from a slump in nickel prices. Citing the group’s…