Ted Black: A starry night on the JSE
Ted Black says Rainbow’s critical number is the one that many firms should focus on but don’t attach enough importance to.
Kumba Iron Ore
More pain? Kumba to fight SARS on R5.5bn tax assessment
Kumba will defend itself against a R5.5 billion tax assessment by the South Africa Revenue Service.
Anglo’s SA mine sales: This is no slam dunk, even for State-assisted buyers
As Anglo American scales back its operations in South Africa, the government says this could encourage the emergence of “new black economic empowerment champions.”
Anglo hits 4th straight loss ($5.6bn). Jumps coal ship, seeks to offload Kumba.
Anglo American, which reported that losses doubled to $5.62 billion in 2015, will accelerate its exit from coal and may sell or spin off its South African iron ore division.
Jobs bloodbath. Kumba, Lonmin downsizing. Minister sees 32 000 cuts.
Lonmin and Kumba Iron Ore plan to scale back operations, cut costs and reduce jobs at key mines as the slide in commodity prices bites further.
SA’s mining crisis: Fuming Froneman urges ANC to take lessons in economics
South Africa’s largest mining union said on Thursday that 11,000 of its members could lose their jobs under planned cost cutting by mining companies.
Transnet shipping record levels of iron ore despite price glut
South African logistics group, Transnet, said that lower global iron ore prices had not hurt its rail business.
Lower iron ore prices hit Exxaro shares
Shares in Exxaro Resources fell Tuesday after SA’s second-biggest coal miner said lower export iron ore prices hit its earnings.
Anchor Capital: Essential market review, 4 May
Anchor Capital provides a comprehensive market review covering everything you need to know about local and global markets.
Anchor Capital: Essential market review, 28 April
Anchor Capital provides a comprehensive market review covering everything you need to know about local and global markets.