It should be frowned upon for a minister or proxy to call a CEO of a state entity enquiring about opportunities for comrades, writes Mpumelelo Mkhabela.
More sun than clouds. Cool.
The silvery-white metal primarily found in South Africa and Russia has almost doubled in the past year.
Tharisa, the publicly traded South African platinum and chrome miner run by the Pouroulis family, has the right to take over a platinum mine project in Zimbabwe that could ultimately cost $4.2bn.
When the world’s biggest platinum miners sit down to hammer out a wage deal this week, they’ll hold two potentially winning cards in reserve: the cash and metal stockpiles to endure a strike.
The mining company is giving hundreds of hectares of land to communities living in an area that’s rich with the ore as the ANC seeks to introduce laws that make it easier to expropriate land without paying for it.
In an update to shareholders the platinum miner said Ian Botha had tendered his resignation and would be 'relocating abroad to pursue other career opportunities'.
Anglo American Platinum has released its interim results and has moved to a net cash position of R0.5bn from a R1.8bn net debt as at 31 December 2017.
The 17.3 million shares were sold at a price of R22.50 per placing share.
While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach.
Zimbabwean mining companies have injected $211m in 2017 to sustain operations and ramp up production.
Anglo American Platinum shares have fallen nearly 3% as the miner reported a loss of R1.3bn for the six months to end-June 2016, with no dividend declared.
Sources say the purchase of the claims by the Mimosa mine, which is jointly owned by Impala and Sibanye Gold, could be finalised by the end of the year.
In dollar terms, the JSE has been one of the worst performers in the world this year.
The price of the metal - mainly used in autocatalysts in gasoline vehicles - has almost doubled from a recent low in August.
Platinum prices are languishing near decade lows, yet investors in the number one supplier of the metal haven’t had it this good for years.
Platinum prices are languishing near the lowest in a decade, but the biggest miners are barely cutting production.
Anglo American Platinum says it expects to report a fourfold increase in first-half profit after operations improved and metal prices rose.
Zimbabwe wants miners operating in the country to list the majority of their shares on the local exchange as it seeks to boost investment.
Anglo American Platinum says its results for the year to end-December 2017 will show earnings growth of about 100% on strong operational performance, cost control and higher sales volumes.
Despite a tough economic environment, it is still possible to make considerable returns on the JSE. Werner Erasmus and Brett Birkenstock discuss five winning shares.
Atlatsa Resources has entered into a letter agreement with Anglo American Platinum regarding the Bokoni Mine.
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