South Africa

South Africa's Valterra Platinum said that the Zimbabwean government owes it $100 million for 2025 export proceeds. The Zimbabwean government has begun making payments to settle these arrears. Zimbabwe only allows exporters to keep 70% of their foreign currency proceeds, and convert the rest into local currency. According to the Zimbabwean mining chamber, Valterra and other companies in the platinum industry have been delayed payments by the government due to the retention rule. The government has cited cash-flow constraints as the reason for the delays. Zimbabwe's Ministry of Finance and Reserve Bank didn't immediately respond to an inquiry for comment....

South Africa's Energy Regulator said that after recognizing errors in earlier calculations, it had granted Eskom a larger increase on its electricity rates for the next two years than originally set. Eskom prices will rise by 8.76% this April and 8.83% next April, instead of the?5.36% or 6.19% that were previously announced. Eskom's financial stability and customer affordability were balanced by the revised tariff increases, it was added. Eskom, the former monopoly which still supplies the majority of electricity to Africa's largest economy, has been mired in a financial crisis since years. It blames this partly on Nersa tariff decisions....

Investors became cautious in anticipation of the U.S. Federal Reserve interest rate announcement, and UK blue-chips index fell on Wednesday. It was weighed down by banks and healthcare companies, as it missed a 'tech-led rally' that had boosted Wall Street's indexes. The FTSE closed down by 0.5% while the domestically focused FTSE 250 ended little changed. Axel Rudolph is a senior financial analyst with IG. He said that there was a shift away from European and U.K. stock to U.S. tech stocks before earnings, which weighed down the FTSE 100. The FTSE 100 is a relatively smaller technology share compared...

South African miners have increased thermal coal exports after Colombia, the top supplier, banned shipments to Israel in August. Data from Kpler LSEG, and DBX Commodities revealed this. Colombia and South Africa are among Israel's loudest critics. The South American nation issued a presidential decree that enacted the export ban, after accusing Israel for killing tens-of-thousands in Gaza, including children. South Africa accused Israel of genocide before the International Court of Justice. Israel's Prime Minster Benjamin Netanyahu rejected this claim. Data from Kpler shows that Colombian coal exports into Israel fell to zero during the three-month period ending November after...

Investors said that BHP should focus on its own growth strategy and move away from Anglo American, following the Australian firm's last minute appeal to the London listed company, which is close to a $60 billion deal with Canada's Teck Resources. In recent days, the world's biggest miner contacted Anglo's board to determine if there was any interest in a merger. This was reported by Sunday. BHP announced on Monday that it would not pursue the bid, but instead focus its efforts on growth. The decision to leave comes before the votes of Teck and Anglo shares - scheduled for...

Anglo American offered to purchase ferronickel for resale to Europe from MMG, for a period of up to 10 year to alleviate EU antitrust concerns over the sale of their nickel business to an unit of Hong Kong listed company. This was revealed by a source with direct knowledge on Wednesday. Anglo American, a London-listed company, announced in February the $500 million sale of its nickel business to a unit of MMG. The European Commission has now begun to examine the sale. Source: The remedy offered would alleviate any regulatory concerns about the deal cutting off some metal supply to...

Eskom, the South African utility company, said it would not expect any power outages during the summer months in southern hemisphere, barring an increase in breakdowns. Eskom's problems supplying electricity to Africa’s largest economy have slowed economic growth by more than 10 years. But a change in performance at the power plants has reduced outages from 176 to 13 days during last summer, down from 176 the previous year. At a press event on the electricity outlook between September 2025 to March 2026 (roughly equivalent to the summer in South Africa), company executives stated that they were confident of providing...

Sasol, a South African petrochemical company, announced on Monday that it had achieved an annual profit due to higher chemical prices and tighter cost control. The company that produces fuels and chemicals out of coal and gas posted basic earnings per shares of 10.60 rand ($0.6070), compared to a loss per share 69.94 rand last year. Sasol received a payout of 4.3 billion rands from Transnet after claiming in a lawsuit that the state-owned logistic firm overcharged oil transport over a period of several years. The company reported a 9% drop in its revenue, due mainly to a reduction in...

Anglo American, a global miner, reported on Thursday a $1.9billion loss for the first half of this year, cut its dividend and continued its restructuring efforts, which included divesting its coal and diamond units. Since BHP failed to acquire it last year, the London-listed company has sold or spun off non-core assets in order to concentrate on its core copper and ore. Anglo demerged their platinum business in May, and announced on Thursday that they had sold off their nickel and coking-coal assets but have not yet finalized the sale. The company declared a $0.07 interim dividend per share. This...

Valterra Platinum CEO Craig Miller stated on Monday that the platinum price rally in the first half 2025 helped most mines to recover from losses, but the industry was still far away from adding new production. South African miners, who account for 70% of the world’s platinum supply cut unprofitable production in the last two years, after metal prices crashed, amid warnings about the terminal decline of the industry. The price of metal used in catalytic converters to reduce vehicle emissions soared by 36% during the second quarter. This was due to the increase of Chinese imports as well as...

Anglo American, a global miner, reported on Thursday a 13% drop in copper production for the first half of this year, to 342,200 tons. It also reported a 26% decline in rough diamonds as the demand remains weak. The London-listed company still expects 690,000-750,000 tonnes of copper to be mined this year. This is down from 773,00 tons in 2024. Metal is used for electrical wiring, and demand will increase as electric vehicles and renewable infrastructure are developed. After BHP failed to acquire the miner last year, it is now restructuring its business, focusing mainly on iron ore and copper....

Sithandekile Nyathi, a confident woman, climbs into the compact loader and lowers the metal cage around the vehicle. She then drives to large mounds wood chips. The chips are then transported by conveyer belt to a converter where they're heated up and transformed into activated carbon, a form of "biochar" that can store carbon and help reduce the planet-warming carbon dioxide emissions. "I was a maid before, and I never imagined I would be working in an industry which also benefits lives and the environment," said Nyathi. She is a controller in the Brakpan plant of Adsorb, South Africa's manufacturer...

Angola wants to buy a 20-30% stake in Anglo American De Beers' diamond division. This proposal is currently being discussed with other African diamond producing nations, according to a senior official of the Angola mining ministry. Anglo has put De Beers up for sale amid the falling prices of diamonds and the rise of synthetic diamonds. Angola made a bid in October 2025 for a majority share in De Beers, although it originally sought a minor stake. Paulo Tanganha is the national director for mineral resources in Angola. He said at the African mining conference held in Cape Town that...

Anglo American, a global miner, announced on Thursday a 10% decline in its?copper output last year, to 695,000 tons. This is the lower end of their guidance. They also cut their 2026 forecast for?the transitional metal. The London-listed company now expects copper production in 2026 to range between 700,000- 760,000 tons. This is down from the previous forecast of 760,000-820,000 tonnes, due partly to lower production at its Chilean mine, Collahuasi. Anglo expects to record charges of around $200 million for the second half 2025 in relation to "rehabilitation provisions" at its Chile copper operation. The London-listed company announced in...

BHP Group, the mining company, has renewed its takeover bid for rival Anglo American, according to a source with knowledge of the situation. This comes just months after BHP and Teck Resources, the Canadian miner, agreed to merge to form a global heavyweight in the copper industry. Anglo American refused to comment. BHP didn't immediately respond to an outside normal business hours request for a comment. Bloomberg News, citing sources familiar with the situation, reported that BHP made overtures to Anglo American recently. The report added that discussions are still ongoing and a deal is not certain. Anglo American has...

According to delegates, no consensus was reached in Geneva during the talks on the first legally-binding treaty for combating plastic pollution. "South Africa regrets that this session was unable to reach a legally binding agreement and the positions are still far apart", its delegate said at a meeting on Friday morning. After a failed meeting of the Intergovernmental Negotiating Committee in South Korea at the end of last year, more than 1,000 delegates gathered in Geneva to begin the sixth round. The United Nations Environment Assembly established the INC in 2022. Its mandate was to create a global, legally-binding treaty...

Peabody Energy announced on Monday that if it is not satisfied with the resolution of issues surrounding Anglo American's Moranbah North Mine, then they may terminate their pending agreement to purchase some Australian steelmaking coal assets from this British mining company. Peabody shares rose over 4% at the opening of trading. An underground fire at Anglo American’s Moranbah North Coal Mine, located in Queensland, Australia's Bowen Basin, has caused the suspension of production. The assets agreement signed by the two companies last year includes the mine. Peabody has informed Anglo American that it has sent a Material Adverse Change notice...

Anglo American, a global miner, reported on Thursday a 15% drop in its production of copper for the first three months of the year. However, the company left the yearly forecast unchanged. The London-listed company said that copper production dropped to 169,000 tons in the first quarter of this year. It attributed the drop in production in Chile. The copper production in 2025 is expected to range between 690,000 - 750,000 tonnes. As the world shifts to cleaner energy sources, it is expected that metals will be used more for electric vehicles and renewable facilities. Prices for industrial metals have...

The environment minister announced on Monday that South African coal-fired electricity stations had received some exemptions from the air quality laws, and regulations aimed at reducing harmful emissions. However, he stressed that these measures were not a "blanket respite". The government struggles to find a balance between the calls to reduce carbon emissions and to stop them and the need to supply electricity to Africa's largest economy which is stagnant due to power outages. Eskom, the power utility that generates South Africa's majority of electricity from its fleet of coal-fired plants, applied to exempt 8 of these plants from air...

A South African government agency that is influential recommended Thursday that the country phase out its coal-fired energy stations. It published a study over ten years which showed people who lived near these power plants were 6% more susceptible to dying than those living elsewhere. South African officials, as well as citizens, are arguing over how quickly the country should implement a programme partly funded by donors to move away from coal and towards solar and wind power. The fossil fuel is responsible for three-quarters of the country's power, and 90,000 jobs are supported by it. The South African Medical...

Anglo American CEO Duncan Wanblad stated on Monday that the company is working hard to maximize its value in case a new M&A bidder comes along. He also expects significant progress on a much-anticipated spin-off of De Beers' diamond business this year. Anglo American, a London-listed company, rejected a hostile bid of $49 billion from BHP in May. BHP was focusing on Anglo’s copper assets. Anglo has since streamlined its operations by selling coal assets and agreeing on the separation of its platinum business. It still needs to find partners for the UK fertiliser project, which requires massive amounts of...

South Africa's mining market reported 42 deaths last year, the lowest number to date and a 24% improvement on the previous year, official stats showed on Thursday. The stats did not include deaths from prohibited mining. Mines Minister Gwede Mantashe repeated the government's. position that unlawful mining is a criminal activity and not part. of his department's remit. Recently the bodies of 78 miners were pulled from an. unlawful gold mine after a heavily-criticised authorities operation. lasting numerous months that attempted to require them to the surface. Of the deaths caught in last year's official stats,. 11 were in the...

South African coal miner Exxaro Resources stated on Wednesday its board had actually placed CEO Nombasa Tsengwa on preventive suspension pending an independent probe into allegations related to work environment conduct and governance practice. The Board takes any such allegations and resultant examinations very seriously but makes no presumption as to its conclusion. The company will be assisted by the result of examination before taking the proper action, if any, Exxaro stated in a declaration. Tsengwa was not instantly readily available for remark. Exxaro said that the inquiry will be performed by law office ENS, including that the business's long-time...

The UK's FTSE 100 index edged higher on Wednesday as investors evaluated the fallout of U.S. Presidentelect Donald Trump's tariff dangers, while reducing federal government bond yields supported interest ratesensitive real estate and property stocks. The blue-chip FTSE 100 and the midcap FTSE 250 both increased 0.2%, stabilising after the prior day's. sell-off on Trump's threat of large tariffs on a few of its secret. trading partners. Housebuilders and real estate. stocks climbed 0.9% and 1.5%, respectively, as UK government. bond yields was up to their least expensive considering that Finance Minister Rachel. Reeves announced her first budget on Oct....