JOHANNESBURG (Reuters) - South Africa’s Sibanye-Stillwater expects to swing to a profit in the first half of 2020, boosted by higher precious metals prices and a weaker rand currency, the...
South Africa’s rand rose against the dollar on Tuesday, boosted by the promise of unlimited dollar funding from the U.S. Federal Reserve, which helped sentiment globally, even as an impending 21-day lockdown threatened the local economy.
Precious metals miner Sibanye Stillwater reported a group revenue increase of 44 per cent year-on-year in 2019 to R73 billion due to rising metals prices and an improved operating performance. The company also relisted on the JSE today with Sibanye Gold now trading under Sibanye Stillwater Limited. CEO of Sibanye-Stillwater, Neal Froneman joins CNBC Africa for more.
Sibanye-Stillwater says it managed to save about 500 jobs from the projected 5,270 it initially planned. The CEO Neal Froneman joins CNBC Africa for more.
Sibanye-stillwater, a 38 per cent shareholder in DRDgold, has exercised its option to acquire an additional 12 per cent interest in the company. The mining giant now has a majority stake of just over 50 per cent in DRDGold. Neil Pretorius, CEO of DRDgold joins CNBC Africa for more.
Following gruelling negotiations in the world’s largest platinum producing country that unearths nearly 70 per cent of world supply. South Africa’s new platinum pay deal was sealed today after last minute postponements. Joseph Mathunjwa leader of Labour Union AMCU says his organisation will continue to keep a beady eye on the Platinum producers. CNBC Africa’s Kopano Gumbi, spoke to AMCU President, Joseph Mathunjwa.
It took many months of tough negotiation in the world’s largest platinum producing country that unearths nearly. 70 per cent of world supply. South Africa’s new platinum pay deal was sealed this morning after last minute postponements. It all ended without a damaging strike like the one that cost the industry dear in 2014. The dominant union in the platinum industry AMCU inked a new pay deal with top producers Amplats, Implats and Sibanye-Stillwater.
Sibanye-Stillwater announced its plan to cut 5 270 jobs at its Marikana platinum mines as part of the company’s restructuring plans. Joining CNBC Africa to discuss South Africa’s job crisis is Solidarity’s General Secretary Gideon du Plessis.