|Bid||67,176.00 x N/A|
|Ask||71,800.00 x N/A|
|Day's Range||67,795.00 - 70,899.00|
|52 Week Range||31,554.00 - 84,583.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||450.67|
Anglo American Platinum is contemplating the sale of its Bokoni and Twickenham mines in South Africa, a move which would mostly complete the group's divestment strategy, its chief executive told Reuters. The precious metals producer has sold many of its mines as it pivots from the labour-intensive methods that have defined South African platinum mining to more mechanised operations, but struggled to dispose of loss-making Bokoni. Higher prices for the basket of precious metals sold by South African miners and a weaker rand currency have improved operating conditions for companies struggling to make profits.
Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts lasting up to 10 hours per day, blaming low water levels at the dam that supplies the biggest hydro plant and creaking infrastructure at ageing coal-fired generators. Mining generated most of Zimbabwe's $4.8 billion of export earnings last year and the cuts have raised the risk of further damage to an economy already experiencing a severe dollar crunch, soaring inflation and shortages of fuel and medicines.
Anglo American said on Thursday technical problems dragged first-quarter production down 6 percent, but copper output rose, as did that of iron ore from its Minas-Rio mine in Brazil, which ramped up operations after a leak last year. The stock extended losses from the prior session, when JPMorgan warned of a $900 million cut to 2020 core profit if Minas-Rio failed to obtain a Brazilian tailings permit by the end of the year. JPMorgan downgraded the stock to "neutral" from "overweight", saying the share no longer looked cheap.
A hardscrabble patch of South Africa disputed between black farmers and tribal leaders working with platinum mining interests is legal ground zero in a battle to loosen the chiefs' grip on communal lands. Land rights are a hot-button issue ahead of elections in 2019 as the African National Congress (ANC) moves forward with a constitutional amendment aimed at a more equitable distribution of land, including possibly expropriating land from whites without compensation.
South Africa is proposing raising black ownership in existing rights holder companies to 30 percent from 26 percent within five years, a draft of new rules showed on Friday. The government and miners have ...
South Africa's rand weakened in cautious trade on Friday as investors took profits from a rally in the previous session ahead of a ratings review decision by S&P Global Ratings. At 1522 GMT the rand was 0.62 percent weaker at 12.5000 to the dollar. S&P publishes its review of the country's credit rating after local markets close.