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Feb 12, 2013

Kumba’s Sishen mine still recovering from strikes

JOHANNESBURG, Feb 12 (Reuters) – South Africa’s Kumba Iron
Ore said on Tuesday its flag-ship Sishen mine was not
back to full production months after an illegal strike ended,
underscoring the long-term impact of last year’s mine protests.

The company, a unit of global mining company Anglo American
, said the labour unrest contributed to a 28 percent fall
in headline earnings. Rising costs and lower prices also hit.

Feb 7, 2013

Anglo says threats over mining licenses “out of order”

CAPE TOWN (Reuters) – Threats by South African politicians to review mining licenses are “out of order”, the incoming head of mining group Anglo American said on Thursday, after its plans to cut jobs triggered a fierce response from the government.

Anglo’s struggling platinum business wants to cut 14,000 job cuts as it mothballs two mines and sells another, part of a plan it hopes will restore it to profit amid rising costs, weak demand and workforce unrest.

Feb 6, 2013

S.Africa mining to shed jobs in troubled times

CAPE TOWN, Feb 6 (Reuters) – The 14,000 jobs on the line in
an Anglo American plan to bring profits back to its
South African platinum arm are the just the first of many the
sector is about to bleed.

Once an engine of job creation, South Africa’s mining
industry faces soaring costs, labour unrest and falling
production that is threatening other mines with closure.

Feb 5, 2013

Anglo could bring in partner for Minas Rio-CEO

CAPE TOWN, Feb 5 (Reuters) – Global mining group Anglo
American could bring a partner into Minas Rio, a
flagship iron ore asset in Brazil that has been battered by
delays and cost overruns, outgoing chief executive Cynthia
Carroll said on Tuesday.

The Minas Rio project was intended as a move to diversify
Anglo from its South African base and boost its presence in iron
ore.

Feb 1, 2013

China’s Africa resource scramble goes platinum

LEDIG, South Africa, Feb 1 (Reuters) – China’s scramble for
resources is breaking new ground on South Africa’s platinum
belt.

As older and less profitable shafts face closure, Chinese
money is bank rolling one of a handful of new platinum mines
being built in South Africa, which sits on about 80 percent of
known global resources of the white metal.

Jan 16, 2013

Striking Amplats miners agree to return to work

JOHANNESBURG (Reuters) – Anglo American Platinum (AMSJ.J: Quote, Profile, Research) (Amplats) miners will end an illegal walkout from Wednesday night and want talks to prevent further action against the world’s largest producer of the precious metal, a labour leader said.

Workers at three of Amplats’ South African mines went on a wildcat walkout from Tuesday’s overnight shift, hours after the company, a unit of London-listed Anglo American (AAL.L: Quote, Profile, Research), announced plans to mothball shafts and cut 14,000 jobs.

Jan 16, 2013

Workers down tools at South Africa’s Amplats

JOHANNESBURG (Reuters) – Workers at three of Anglo American Platinum’s (AMSJ.J: Quote, Profile, Research) South African mines went on an illegal strike on Wednesday, the day after the world’s top producer of the precious metal announced plans to mothball shafts and cut 14,000 jobs.

A spokeswoman for Amplats, a unit of London-listed Anglo American (AAL.L: Quote, Profile, Research), said an unspecified number of employees at its Khomanani, Thembelani and Tumela mines, in the heart of South Africa’s platinum belt, had refused to go underground.

Jan 16, 2013

Workers at South Africa’s Amplats down tools: labor leader

JOHANNESBURG (Reuters) – Miners at the Rustenburg operations of South Africa’s Anglo American Platinum refused to work overnight shifts in protest at company plans to close mines, a labor leader said on Wednesday.

“They didn’t go underground,” Evans Ramogka, an activist at an Amplats mine in Rustenburg, about 120km (70 miles) northwest of Johannesburg, told Reuters.

Jan 16, 2013

Workers at S.Africa’s Amplats down tools -labour leader

JOHANNESBURG, Jan 16 (Reuters) – Miners at the Rustenburg
operations of South Africa’s Anglo American Platinum
refused to work overnight shifts in protest at company plans to
close mines, a labour leader said on Wednesday.

“They didn’t go underground,” Evans Ramogka, an activist at
an Amplats mine in Rustenburg, about 120km (70 miles) northwest
of Johannesburg, told Reuters.

Jan 15, 2013

South Africa’s Amplats to shed mines and 14,000 jobs

JOHANNESBURG (Reuters) – Anglo American Platinum (AMSJ.J: Quote, Profile, Research, Stock Buzz), the world’s top platinum producer, said it will mothball two South African mines, sell another and cut 14,000 jobs in moves to restore profits that may provoke a repeat of last year’s strikes when about 50 people died.

In a long-awaited review announced on Tuesday that is seen as crucial to the flagging fortunes of Anglo American (AAL.L: Quote, Profile, Research, Stock Buzz), which owns about 80 percent of Amplats, the platinum producer said it aimed to cut output by around a fifth or 400,000 ounces.

    • 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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