The SAIMM is a professional institute with local and international links aimed at assisting members source information about technological developments in the mining, metallurgical and related sectors.
Impala Platinum (Implats) expects to narrow its headline loss a share for the six months ended December 31 to between 17c and 26c, compared with the headline loss a share of 71c reported for the six months to December 31, 2016. Its loss a share is also expected to improve to loss of between 19c and 28c, compared with a loss of 52c in the prior comparable period.
Precious metals producer Sibanye-Stillwater on Monday reported that its South African gold reserves had decreased by 10% year-on-year to 25.74-million ounces as at December 31, while its total platinum, palladium, rhodium and gold, or 4E, platinum group metal mineral reserves had declined by 4% year-on-year to 22.36-million ounces.
The Institute for Accountability in Southern Africa has written to Eskom chairperson Jabu Mabuza requesting a detailed written explanation as to why the current board believes the State-owned utility can be rescued from its current financial distress, cautioning that Eskom may currently be trading “recklessly” in terms of the legislation governing companies in South Africa. Campaigning as Accountability Now, the institute asserts that Eskom is both insolvent and illiquid, making it unlikely that it will be able to meet operational costs and long-term debt obligations.