South32 Ltd will provide up to $250 million in funds to smooth the sale of its South African energy coal business to mining group Seriti Resources.

Gold producers have in the past argued that above-inflation wage hikes cannot be sustained unless prices also rise.

After being in the doldrums for a decade, South Africa’s platinum miners are increasing payouts as they reap windfall profits from near-record prices.

Sibanye-Stillwater CEO Neal Froneman this month floated the idea of a merger with peers AngloGold and Gold Fields.

La Mancha holds an interest of about 19% in Endeavour Mining.

The project will be carried out at Gara Djebilet iron mine, in the southern province of Tindouf.

Africa’s biggest fund manager and a key investor in South African gold companies said any consolidation in the sector must benefit the country as well as shareholders.