In election year, South African mines bleed cash, jobs

The country's biggest mining investors are halting plans to spend billions of rand on new projects in response to a slump in profits.

Reuters | February 21, 2024 | 7:54 am

Amplats plans to cut thousands of jobs after profit plunge

Anglo American Platinum's profit plunged by 71% last year.

Reuters | February 19, 2024 | 7:56 am

Nornickel’s 2023 profit slumps 51% on falling metal prices

Nornickel expects a further decline in its nickel and palladium output this year, due to geopolitical risks and postponed furnace repairs.

Reuters | February 9, 2024 | 7:54 am

Zimbabwe takes full control of controversial state miner

Kuvimba holds some of Zimbabwe’s best mining assets, which were once owned by a company controlled by US- and UK-sanctioned tycoon Kudakwashe Tagwirei.

Bloomberg News | February 8, 2024 | 11:07 am

Palladium price drops below platinum for first time in five years

Palladium fell by 39% in 2023 after rising prices from 2018 to 2022 caused the auto sector, accounting for 80% of demand, to start replacing it with cheaper platinum in autocatalysts.

Staff Writer | February 8, 2024 | 8:30 am

Scientists develop solution to avoid gold particle corrosion

Gold is generally resilient but if it’s in the form of tiny particles, it suffers negatively from heat, pressure, corrosion, oxidation and other conditions.

Staff Writer | February 7, 2024 | 6:06 am

Sibanye CEO pushes on with copper hunt after failed Zambian bid

The precious metals producer is still looking for copper assets to buy across the African copper belt.

Reuters | February 5, 2024 | 7:13 am

South African platinum industry could shed up to 7,000 jobs to cut costs

South African PGM miners, home to around 70% of global mined platinum output, are discussing the need to restructure unprofitable production.

Reuters | February 5, 2024 | 7:04 am

Activists, Hollywood take down top 50 mining company

The ranks of the most valuable mining companies in the world were throughly scrambled in 2023 as governments intervened, lithium and nickel prices tumbled, gold hit records and a new listing went ballistic.

Frik Els | January 31, 2024 | 8:31 am

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Last

Sibanye-Stillwater to cut 2,600 jobs in South Africa

Sibanye-Stillwater flags $2.5bn write-down on metals prices collapse

Sibanye-Stillwater, Heraeus team up to save palladium

Palladium price heads for biggest one-day gain in two months on short covering

Alaska Energy boosts contained nickel at Nikolai project to 8 billion lb.

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