Tawanda Karombo

Job losses in the mining industry have become prevalent recently as the industry is struggling against lower commodity prices, and Sibanye has already cut about 2 600 jobs at its platinum group metals operation in South Africa this year.

SA companies have to contend with regulatory scrutiny, heavy tax bills and penalties, in addition to currency woes and dividend repatriation hold-ups in African markets.

The fibre internet link between Johannesburg to Europe will help reduce connectivity latency to 123 milliseconds.

Goldway now controls about 83% of MC Mining, whose shares slumped by 2.60% to R1.87 in afternoon trade despite being 7.26% stronger in the past three months.

Ster-Kinekor added that the Hollywood writers and actors strike in 2023 had resulted in content scheduled for release in 2023 and 2024 being moved out to 2025.

Production from the BMA joint venture was 16% lower at 17.4 million tonnes over the nine-month period to end March on a 50% accounting basis.

The Fair Steel Coalition, representing affected communities from areas where Amsa has steel manufacturing operations in South Africa, Liberia and elsewhere, will be staging protests at the local operations of the Luxembourg-headquartered company.

Shares in Zeder slumped 2.70% to R1.80 in afternoon trade on the JSE yesterday.

Anglo American glittered 13% more, with analysts saying this had erased sentiment against the resource giant’s losses of the past 12 months.

Implats said the labor force reduction at Rustenburg, Marula and Impala Bafokeng operations will reduce 9% of its workforce, in addition to a cost 30% cost reduction exercise at its head office.