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Feb 5, 2014

South Sudan is medium-term frontier of choice for Randgold -CEO

CAPE TOWN, Feb 5 (Reuters) – Africa-focused bullion producer
Randgold Resources says South Sudan is its first choice
as a country to explore and mine for gold, chief executive Mark
Bristow said, estimating that the conflict there will be over in
four to five years.

Since secession from Sudan in 2011, the country has been
wracked by a power struggle between the government and rebels,
and thousands of people have been killed and 800,000 displaced
since last December.

Feb 5, 2014

South Africa hard sell at its own mining bash

CAPE TOWN, Feb 5 (Reuters) – South Africa hosts the annual
Africa mining conference but the country is a hard sell at its
own party.

Outside investors are increasingly wary of South Africa’s
mining sector and extra salt is being rubbed into its
reputational wound as the conference coincides with a massive
strike in its platinum shafts.

Feb 4, 2014

Higher stocks give Lonmin breathing space during strike -CEO

CAPE TOWN, Feb 4 (Reuters) – Higher stocks than usual are
helping South African platinum producer Lonmin to cope
with mining strikes that are paralising its production, its
chief executive said on Tuesday.

The world’s No. 3 platinum producer is losing about 3,100
ounces of refined output a day due to a strike over wages, which
started almost two weeks ago and has also hit bigger rivals
Anglo American Platinum and Impala Platinum.

Feb 4, 2014

Somaliland blessed by dodging aid “curse” – minister

CAPE TOWN, Feb 4 (Reuters) – The breakaway territory of
Somaliland cannot access foreign aid because it has not yet been
recognised internationally as a state, and that suits it just
fine.

“That is a blessing in disguise. Aid never developed
anything,” Hussein Abdi Dualeh, Somaliland’s minister of energy
and minerals, told Reuters on the sidelines of an African mining
conference.

Jan 30, 2014

Potatoes for a week: a South African platinum miner on strike

MERITING, South Africa, Jan 30 (Reuters) – South African
miner Venter Mulutsi has one food item in his small fridge: a
bag of potatoes that he hopes will last a week.

Beyond that, the Impala Platinum miner who has been
on strike for a week with around 100,000 of his comrades from
the Association of Mineworkers and Construction Union (AMCU),
has a bag of maize meal and a loaf of bread.

Jan 30, 2014

S.Africa platinum union rebuffs pay offer, rand falls again

RUSTENBURG, South Africa, Jan 30 (Reuters) – South Africa’s
AMCU union rejected a 9 percent wage offer on Thursday from
leading platinum producers, prolonging a week of industrial
action that has combined with a severe emerging market sell-off
to push the rand to five-year lows.

The strike has hit around 40 percent of the global supply of
platinum, used in catalytic converters in cars, and magnified
concerns about the trade deficit in Africa’s largest economy due
to its impact on a big source of foreign exchange.

Jan 24, 2014

Striking South African miners meet with platinum firms

RUSTENBURG, South Africa (Reuters) – South Africa’s main platinum miners union opened government-brokered talks with the world’s top three platinum companies on Friday to end a wage strike that started to turn violent on its second day.

Union leaders representing as many as 100,000 miners who walked off work on Thursday sat down with officials of the three firms that produce more than half the world’s platinum, a metal used in catalytic converters in cars.

Jan 24, 2014

Striking South African miners open talks with platinum firms

RUSTENBURG, South Africa (Reuters) – South Africa’s main platinum union started government-brokered talks with the world’s top three platinum companies on Friday to end a wage strike that risked turning violent.

As many as 100,000 members of the Association of Mineworkers and Construction Union (AMCU) walked out at Anglo American Platinum, Impala Platinum and Lonmin on Thursday, hitting more than half of world platinum production.

Jan 23, 2014

South African strike hits world’s top platinum producers

RUSTENBURG, South Africa (Reuters) – South Africa’s hardline Association of Mineworkers and Construction Union (AMCU) began a strike over pay in the platinum sector on Thursday, bringing mines that produce half the world’s platinum to a standstill.

Members of AMCU, the platinum sector’s main union, downed tools at Anglo American Platinum (AMSJ.J: Quote, Profile, Research, Stock Buzz), Impala Platinum (IMPJ.J: Quote, Profile, Research, Stock Buzz) and Lonmin (LMI.L: Quote, Profile, Research, Stock Buzz), the top three producers of the metal used in emissions-capping catalytic converters in cars.

Jan 23, 2014

World’s top platinum producers to be hit by South African strike

RUSTENBURG, South Africa, Jan 23 (Reuters) – Half of world
platinum production is set to grind to a halt on Thursday as
South Africa’s hardline Association of Mineworkers and
Construction Union (AMCU) vowed to press ahead with a strike
over pay under the battle cry of a “living wage”.

AMCU, the platinum industry’s main trade union, plans to
strike from Thursday at Implats, Anglo American Platinum
and Lonmin, the top three producers of the
metal used in emissions-capping catalytic converters in cars.

    • About Ed

      "I cover commodities in southerrn Africa, a region that I have returned to after spending over four years covering religion, politics and the Great Recession in America. I am a Canadian citizen and grew up in Nova Scotia."
      Joined Reuters:
      1995
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