Tag: Peter Major
Yesterday’s South Africa’s GDP data for the second quarter revealed that The mining and quarrying industry decreased by 73.1 per cent as the demand for mineral products fell as global markets entered into strict COVID-19 lock-downs; contributing to decreased production in platinum , gold and other metals. However we are seeing a glimpse of recovery for South African miners as they are posting above average results and production increases. Peter Major, Mining Director at Mergence Corporate Solutions joins CNBC Africa for more.
Anglo American is offering a R7bn purchase for a UK potash miner and is in serious talks with Sirius Minerals. The multinational mining company is willing to make a 5.5 per share cash offer. Analyst at Mergence Corporate Solutions, Peter Major joins CNBC Africa to discuss if this is the right move.
The first quarter GDP figures for 2019 represent the largest quarterly drop that has occurred in 10 years. The economy declined by 3.2 per cent in the first quarter which is attributed to the declines in manufacturing and mining.
AngloGold Ashanti is considering delisting from the JSE. Speculations are the world's third largest gold producer is currently looking at London and Toronto as an option for listing its shares. Meanwhile the company has declined to comment on these unconfirmed developments.Mining Head at Cadiz Solutions, Peter Major joins CNBC Africa for more.
Yet mining companies are going to find it very difficult and expensive to comply with all of the above in five years at a time when the mines are struggling against rising costs and falling productivity. The empowerment transactions will carry a heavy cost.