Giant miner Xstrata has set Sep. 7 as the day for its shareholders to vote on the $26 billion takeover by Glencore, giving the commodities trader six weeks to reach an agreement on the conditions.
Botswana is setting out to lower the fiscal burden on resources investors in a charm offensive that separates it from the mining jurisdictions that are currently looking to increase mining taxes.
Vancouver-based Eastern Platinum was forced to issue a clarification over contained platinum resources at its South African PGM properties following a review by the British Columbia Securities Commission.
The Oppenheimer family, controller of giant diamond miner DeBeers since 1927, has officially let go of its 40% stake in the company after South Africa’s Mineral Resources Minister approved the acquisition by Anglo American.
Xstrata has delayed voting on a merger with Glencore as investors continue to dictate the offer and unions become more vocal about their concerns over the deal.
On Wednesday, a day after after all three major global ratings agencies – Fitch, Moody's and Standard & Poor's – placed South Africa's credit rating on negative outlook, home affairs minister Nkosazana Dlamini-Zuma became the latest senior figure in the ruling ANC party to join a growing chorus calling for state control of mining.