Kumba Iron Ore’s board has put a halt to paying a dividend in the half year to June and has moved to overhaul its operations as it grapples with a double whammy of tumbling iron ore prices and rising costs.

AngloGold Ashanti, the world’s third-largest gold producer, climbed its most in seven months after selling its Cripple Creek & Victor mine to Newmont Mining.

Last week, the firm announced operating profits had increased 36% to $1.4 billion.

South Africa's gold mining companies have been hit by union demands for wage hikes but the industry has little room to budge as current collective agreements do not expire until the middle of next year, the country's chamber of mines said.

Anglo American is looking for thermal coal assets in Australia and Indonesia, especially as prices of potential targets have come down, the head of its thermal coal unit said in an interview.