LONDON (Reuters) – Global mining and commodity trading company Glencore said it was cutting 124 jobs, or about 20 percent of the staff, at its Rosh Pinah zinc and lead mine in Namibia to control costs. Glencore bought an 80.1 percent stake in Rosh Pinah zinc and lead mine, in southwestern Namibia, 800 kilometers south of the capital Windhoek, in 2011 fromSouth Africa’s … Read more
The seasonally adjusted Kagiso Purchasing Manager’s Index fell to 44.3 index points in May from 47.4 in April. The PMI is made up of a number of indices, these indices refer to business activity, employment, new sales orders, prices and expected business activity. When the PMI is above 50 it indicates a healthy, expanding manufacturing industry … Read more
* Group is only FTSE 100 company with all-male board * Issue has drawn criticism from shareholders * Female representation on FTSE 100 boards now up to 20 pct * Single Glencore appointment not enough, says fund adviser By Silvia Antonioli LONDON, May 20 (Reuters) – Glencore Xstrata plans to appoint a female board member … Read more
LONDON (Reuters) – Miner Glencore Xstrata met market forecasts with a 24 percent increase in copper production in the first quarter of 2014 mainly due to output expansion at its African operations and to higher grades at its South American mines. Glencore said the performance of its marketing division was overall “strong and in line … Read more
Glencore Xstrata has released its 2014 Q1 production report, here are some key highlights – Own source copper production up 24% to 382,000 tonnes, driven by the expansions at Mutanda and Ernest Henry and improved production at Collahuasi and Antamina. Own source zinc production was 306,000 tonnes, down 18% due to Perseverance and Brunswick reaching … Read more
Vestact’s Sasha Naryshkine shares his views on deals involving JSE-listed companies, starting with  Steinhoff (JSE: SHF) which plans a stock market listing for its European business this year. Europe is recovering, so the move looks well-timed. Sasha also discusses telecommunications companies, which are being squeezed. The focus is Nashua Mobile – subsidiary of listed ICT company … Read more
Paul Whitburn, a team member of deep value investment house Re:CM, shares the forthright approach of company founder and chairman Piet Viljoen. Whitburn, our market watcher on CNBC Africa’s Power Lunch today, dispensed with diplomacy in a conversation which ranged from BHP Billiton’s bearish view on South Africa through to a view on why companies … Read more
A“buy” rating by a prominent investment house is a big deal for a company. It can open the way for big, conservative investment trusts to acquire its shares, can lead to a run in the price, and can help smooth the way for management salary and bonus increases. So it’s no surprise that companies and … Read more
Piet Viljoen has much in common with Sage of Omaha Warren Buffett – which is hardly surprising considering Piet has made a study of Buffett’s investment strategy. He has also made the pilgrimage to the Berkshire Hathaway annual shareholders’ meeting. Like Buffett, Piet has a rare ability to cut through jargon and complexity to explain … Read more
I have no empirical evidence. But my gut-feel is  were you to ask the smartest young people in South Africa to name their preferred corporate employer, right now Allan Gray, Glencore and Discovery would be at or near the top of the list. Of the three, I’ve had the longest relationship with Allan Gray, first … Read more