Changes to the Kumba Board

Kumba is pleased to announce the appointments of Ms Nonkululeko Dlamini (nee Veleti) and Mr Seamus French as non-executive directors to the Board, with effect from 1 November 2016, in compliance with Section 3.59 of the JSE Limited Listing Requirements. Ms Dlamini is being appointed as a full director and is the shareholder representative of the[…]

Mining jobs finally picking up in Australia

The great unwinding of the once-in-a-century mining boom may finally be coming to an end in Australia as recent figures show that job vacancies across the sector — a top economic indicator on employment growth — are beginning to rise. According to data supplied to Business Insider by economists at the Commonwealth Bank, the coal sector is[…]

Equity markets all but closed for mining IPOs

Management consultants E&Y’s latest report on mergers and acquisition and financing in the mining industry shows the environment for raising capital has been in steady decline since 2013 and the trend is likely to continue. Total capital raised during the quarter was $49.9 billion, down 17% from $60 billion in Q2. Capital raised was also[…]

Anglo American plots £2bn South African mines spin-off

Anglo American is sounding out investors about a multi-billion pound spin-off of its South African operations in an attempt to pacifiy growing pressure from its biggest shareholder to consider a radical break-up. The FTSE-100 giant, which wants to focus on diamonds, platinum and copper, is looking at packaging up its “non-core” thermal coal and iron ore[…]

Clinton, Australian anti-coal activists, and Wikileaks

A series of emails made public by Wikileaks shows that activists opposing Adani Group’s $12 billion Carmichael coal mine and rail project in Queensland, Australia have been receiving funding from an American organization and were not keen to disclose who was financing their activities. Although the electronic correspondence dates back to 2015, it was circulated[…]

Activists urge Congo government to pass new mining code

Activists in the Democratic Republic of Congo are pressing the government to revive plans for a new mining code, claiming the country, which is Africa’s top copper producer and the world’s largest source of cobalt, needs the higher revenues a revised legislation would generate. Congo began reviewing the 2002 mining code in 2012 and last[…]