South Africa mining output drops most in 39 years

Sibanye and Lonmin said in a joint statement they remained fully committed to the deal, which is expected to close by the end of the year.

The transaction would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.

In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.

Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount.

Implats is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider full-year loss.

The original sale of the stake was disputed in a London court by aluminium producer Rusal, which owns a stake in Nornickel.

Drilling at new projects up 57% as spending on gold exploration reaches 21-year high.

Unlike US space agency NASA, Luxembourg Space Agency (LSA) will not carry out research or launches. Its purpose is to boost exploration, mining and commercial utilization of resources extracted from near earth objects.

Lonmin has been the biggest casualty in South Africa's platinum mining industry.