South Africa coal giants consider job cuts due to ‘dire’ Transnet rail woes
Glencore Plc and Seriti Resources Holdings Ltd. are contemplating significant job cuts in South Africa due to challenges caused by Transnet SOC Ltd.
Glencore Plc and Seriti Resources Holdings Ltd. are contemplating significant job cuts in South Africa due to challenges caused by Transnet SOC Ltd.
Glencore Plc has been ordered by a federal judge in New York to pay $700 million as a criminal punishment for a global bribery scheme.
Glencore Plc has its investors questioning the climate impact of its top coal mining unit.
A judge handed down a penalty of £276 million for Glencore’s conduct, on top of around $1.1 billion the company has already paid.
Glencore has agreed to sell its stake in Mopani Copper Mines to the Zambian government for $1.5bn (R22.4bn), but will get just $1 (R15) upfront.
As those who bought Amazon in the early days of the internet will attest, the best way to play a megatrend is buy in early and forget you own the stock.
Corruption in high places is Africa’s biggest curse. It is the ultimate mis-allocation of resources and condemns Africans to remain the world’s poorest people.
For the Zupta combine, as with the corrupt ancient Babylonians to whom they have been compared, the writing is now very much on the wall.
South African Finance Minister Pravin Gordhan’s complaint of police “harassment” signaled that a deepening battle over the independence of the Treasury is overshadowing his message of policy stability to investors.
South Africa’s Chamber of Mines is optimistic that it will resolve a dispute with the government about the requirements for black shareholding in mining companies this year.