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…
Anglo American shares jump on copper cost cut
ANGLO American shares climbed 5% on Thursday after the group trimmed its 2026 copper cost forecast and stuck by its production targets for its newly streamlined business, News24…
Worst rain in decades dampens Kumba Iron Ore earnings
RAIN and a stronger rand weighed on Kumba Iron Ore in the six months ended June, the Johannesburg-listed miner said in a trading update today. Headline earnings would come in…
Merafe’s Eskom deal: Government needs it more
THE Glencore-Merafe Chrome Venture’s proposed 62c per kWh electricity tariff deal with Eskom, far below the standard tariff of around 234c per kWh, could determine whether its…
Exxaro Resources is breaking from its iron shackles
THERE has always been a tight correlation between the share prices of Exxaro and Kumba Iron Ore. That’s because Exxaro’s 20% stake in Kumba subsidiary Sishen Iron Ore Company…
Still no firm date for the divestment of De Beers by Anglo American
Anglo American expects to agree the sale of its steelmaking coal business within the next three months but still has not provided a specific target date for the disposal of De…
From millstone to option value: How SA has changed for Anglo
THE perceived regulatory and social risks of South Africa used to weigh heavily on Anglo American’s investment rating. Known as the ‘South African discount’, Anglo executives…
Iron ore heads for biggest weekly gain
IRON ore is heading for its biggest weekly gain in more than a year after China’s state-backed buyer moved to expand restrictions on BHP products, said Bloomberg News in an…
SA coal exports flat in 2025 despite Transnet progress
COAL railed for export from South Africa so far this year implied total volumes for 2025 of 56.4 million tons, less than last year’s 56.9Mt. Commenting in his pre-close…
SA iron ore exports could face margin squeeze
A PILLAR of Kumba Iron Ore’s business case is that about two-thirds of its 35 to 37 million tons in annual production is sold as lumpy iron ore. Steelmakers pay a premium for…
Exxaro has turned the corner. So where to from here?
EXXARO Resources CEO Ben Magara is hoping a one-fifth improvement in Exxaro’s share price in following its half-year results August is the beginning of something greater.…
De Beers to post interim loss as discounts inventory diamonds
ANGLO American on Thursday said its diamond and steelmaking coal businesses would be loss-making in the first half of its financial year. This was owing to poor market conditions…
Chris Griffith confirms resignation from Vedanta
CHRIS Griffith has confirmed his resignation from Vedanta, the Indian company where he was appointed about two years ago to lead its base metals division. “I can confirm I have…
Mkhwanazi to leave Anglo as group streamlines executive
ANGLO American said its regional director for Australia and Africa, Themba Mkhwanazi would leave the company following the disposal of group assets in the past 12 months.…
A year after unveiling its restructure, Anglo has surprised the market
Voicemail is on the decline globally, 8% lower since 2020, according to US company Vonage. Coca-Cola removed it from its corporate headquarters three years ago. Yet for Ken…
Anglo American confident of full-year targets despite weak Q1 production
ANGLO American’s copper, iron ore, manganese, platinum group metals (PGMs) and diamonds businesses all posted flat or lower quarter-on-quarter output in the three months to…
Anglo starts consultation to cut jobs
ANGLO American has begun a consultation process in the United Kingdom and South Africa to cut jobs, amid a broader restructuring aimed at refocusing its operations on copper and…
Exxaro targets “first” manganese deal this year
EXXARO Resources said on Thursday it hoped to convert “interesting conversations” with South African manganese miners into an investment during this year. “We have been engaging…
New Exxaro boss Ben Magara commits to battery metals
EXXARO Resources said on Thursday it had appointed the former Lonmin boss Ben Magara as its new CEO, effective April 1. Magara, currently a non-executive director at Exxaro,…
Hefty De Beers write-down takes Anglo into headline loss
A $2.9BN write-down of De Beers took parent company Anglo American into a $3.1bn headline earnings loss for the 12 months ended December. Anglo CEO Duncan Wanblad said in a media…