Since 2004, complaints have piled up against Hlophe. The list is filled with allegations you don't want a senior judge to face, writes Adriaan Basson.
Morning clouds. Cool.
The silvery-white metal primarily found in South Africa and Russia has almost doubled in the past year.
These include Sibanye, Angloplat, Gold Fields, Harmony, African Rainbow Minerals and Implats, which already jumped 290% in 2019.
The Public Investment Corporation has increased its shareholding in mining giant Sibanye-Stillwater from 9.3% to 10%.
Sibanye Stillwater - the world's biggest producer of platinum, the second-largest palladium producer and a major gold miner – plans to restructure its holding structure.
Mining stock Sibanye has a significantly higher target having broken out of a large, bullish chart pattern.
South Africa, which led global gold production for a century and extracted about half the bullion ever mined, is now Africa’s second-largest gold producer.
The state-owned asset manager faces a tough choice: back Sibanye Gold’s takeover of Lonmin, and take a hit on its investment, or scupper the deal and risk having to pony up more cash for the platinum miner.
Judge Dennis Davis on Friday dismissed an appeal by the Association of Mineworkers and Construction Union (AMCU) who wanted an aproval by the Competition Tribunal for a merger between mining companies Sibanye-Stillwater and Lonmin set aside.
While some analysts have questioned the value of Sibanye’s offer, Lonmin Chief Executive Officer Ben Magara continues to recommend it, saying the rebound in earnings isn’t sufficient to resolve the company’s long-term challenges.
Gold production shrank for an 18th straight month in March, extending the longest run of contractions since the financial crisis.
Mining Group Sibanye-Stillwater [ has completed the restructuring of its Marikana operations, in a process that saw 1 142 workers lose their jobs.
Some of the world’s biggest investment banks are leaving or scaling down their operations in SA.
In dollar terms, the JSE has been one of the worst performers in the world this year.
Implats has been in and out of the Top 40 index over recent years.
South Africa’s Association of Mineworkers and Construction Union is making “slow, steady” progress on wage talks, but the offer from the former Lonmin operations was provoking a strike, its president said.
With the acquisition of Lonmin, Chief Executive Officer Neal Froneman has completed Sibanye’s transformation to a giant of SA's key platinum sector.
Lonmin plans to cut 4 100 workers at mines that have run out of profitable ore and are being closed.
The Public Investment Corporation, whose 30% stake in Lonmin is enough to block the miner’s planned takeover by Sibanye Gold, is concerned that the value of the all-share deal has been eroded, according to a person familiar with the matter.
Sibanye Gold faces competition from two rivals if it wants to buy South African gold mining assets that AngloGold Ashanti plans to sell.
One of the most polarizing figures in South African mining, union leader Joseph Mathunjwa has never hesitated to go head-to-head with powerful CEOs. Now he may have to face down the government.
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