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Investments & Finance

Minerals & Petroleum Development Act to be revised

A roadblock to investment in South Africa’s oil and gas sector could potentially be cleared as controversial natural resources legislation is now being reviewed. On Friday President Jacob Zuma sent the country’s new Mineral and Petroleum Resources...

Rockwell announces new acquisition

Rockwell Diamonds has announced that it has entered into a conditional agreement to acquire certain alluvial diamond properties and associated plant and equipment from Bondeo 140 and its affiliates which own and operate alluvial diamond properties...

SA miners faced with shrinking margins

A significant decrease in the mining industry’s profitability fuelled contraction in market capitalisation of South African mining stocks in 2014. In addition, local cost pressures and international demand weakness resulted in shrinking margins and...

Vale sells part of Moatize to Japan firm for $950mn

Brazilian mining group Vale has sold part of its mining and logistics assets in Mozambique to Japanese firm Mitsui & Co in a deal worth about $950 million. Vale Moçambique CEO Pedro Gutemberg said the Brazilian group had signed an investment...

Glencore CEO’s jibe at iron ore giants

Glencore’s chief executive Ivan Glasenberg has once again expressed his frustration with the top three iron producers Vale, BHP Billiton Rio Tinto for their ongoing iron ore production ramp up despite the slump in prices. Glasenberg, speaking to...

Edgewater completes sale of Enchi gold interests

Edgewater has completed the previously announced sale of all of its interest in the Enchi gold project located in southwest Ghana to Pinecrest Resources, said George Salamis, President and CEO of Edgewater Exploration. Under the transaction,...

BHP unveils name of new spinoff company

It’s been almost four months since BHP Billiton announced its new spin-off entity it now names South32, which will comprise of its non-core assets. South32 chief executive Graham Kerr made the announcement on Monday in a conference call with media,...

ARM’s earnings to be 45% lower in H2 2014

JSE-listed African Rainbow Minerals (ARM) anticipates that its headline earnings for the six months ended 31 December were likely to be at least 45% lower than the same period in the prior financial year. The company made the announcement on...

Rio Tinto to spend $350mn at Diavik mine

Rio Tinto announced its plans to spend part of its much reduced capital spending budget expanding the Diavik mine in Canada, in a move that’s reinforces the company’s renewed commitment to its diamonds business, according to reports. The $350...