Новости за 12.03.2020

Chemicals and energy group Sasol, which has seen its market capitalisation decimated in recent days as a result of a series of adverse developments, including a ratings downgrade, a big slump in the oil price and Covid-19-induced market volatility, broke its silence on Thursday afternoon when it issued a cautionary note to shareholders. In the note, the group indicated that various alternatives were being assessed to manage Sasol’s near-term debt-covenant constraints, including a potential equity issue.

South African mining production increased by 7.5% year-on-year in January, Stats South Africa’s data shows. This was the biggest year-on-year rise in mining output since November 2017 when production increased by 7.8%.

South Africa’s electricity generation crisis has created major opportunities for companies, businesses and individuals to start generating their own power, Exxaro CEO Mxolisi Mgojo said on Thursday when the JSE-listed black-empowered company declared generous dividends following a resilient 2019 performance, despite coal price odds. “That’s a big shift, over and beyond what was originally planned in the IRP 2019. What is becoming very critical now is how we actually fast-track the enabling of self-generation to happen... Читать дальше...

South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as reaction to US measures aimed at curbing the spread of the coronavirus accelerated the sell-off sweeping through global equities. The FTSE/JSE Africa All Share Index sank as much as 9.3% as of 3:34 p.m. in Johannesburg. Naspers, South Africa’s biggest stock, fell 7.1% to weigh heaviest on the overall market. Mining stocks plummeted 14%, set for a record decline. All but three of the benchmark’s 158 members... Читать дальше...

Diversified miner Rio Tinto will pay former CEO Sam Walsh a reported A$6.8-million in deferred payments, as investigations around payments to consultants at the Simandou iron-ore project, in Guinea, continue. Walsh, who was CEO of Rio at the time the $10.5-million payments were made in 2011, had initially reached an agreement with Rio to defer incentive plan awards.

Global mining group BHP has retained the title of the world’s most valuable mining, iron and steel brand, despite recording a 3% drop in brand value to $5.8-billion. This is according to the latest report by brand valuation consultancy Brand Finance, which highlights that BHP’s brand value was affected by several events last year, including negotiating a $5-billion lawsuit related to the Samarco disaster, batting the repercussions of the Australian bushfire and its exposure to fluctuating global trade. Читать дальше...

The Australian Securities and Investment Commission (ASIC) has revoked an interim stop order in relation to ASX-listed TerraCom’s bid for South Africa-focused coal miner Universal Coal. The Australian watchdog at the end of February imposed the stop order, impeding TerraCom’s ability to transfer shares under its takeover offer for Universal.

The financial turmoil crushing industrial-metals equities has a silver lining: lower energy prices can be a boon to miners. “It’s a big positive,” said David Harquail, CEO of streaming and royalties company Franco-Nevada. Fuel is a key operating cost for miners because it’s needed to run the giant machines that drill and process massive volumes of ore. Mining companies are “big energy consumers and to the extent their costs are lower, that helps their margins", Harquail said in a phone interview. Читать дальше...

Black-controlled diversified resources group Exxaro, which created 746 jobs and supported 30 small, medium-sized and microenterprises in the twelve months to December 31, reported a R235-million top-line 2019 increase, raised its dividend payout and lifted headline earnings a share. Core earnings declined by 20%, mainly on the impact of the 27% drop in the export API4 coal price, local inflationary cost pressures and higher rehabilitation costs at its closed operations. The strong performance of... Читать дальше...

This week Mining Weekly Editor Martin Creamer unpacks details about the production base for South Africa’s high-flying platinum group metals (PGMs), PGMs mining and marketing company Anglo American Platinum's double processing setback and growth in the adoption of fuel cell electric vehicles in China.