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SOUTH AFRICA: Eskom rescue heightens SA’s downgrade risk

  • Date: 24-07-19
  • Category: SOUTH AFRICA
  • Source: Business Live

Finance minister Tito Mboweni says the state might have to increase borrowing to fund an extra R59bn in aid for utility

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SOUTH AFRICA: The plight of the average middle class South African

The average middle class South African has run out of runway – having already depleted savings – and is now tapping into whatever credit facilities they may have.

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LITHIUM: $22 m placement secures Ningbo Shanshanas cornerstone shareholder

  • Date: 23-07-19
  • Category: LITHIUM
  • Source: Altura Mining

Altura Mining Limited (ASX: AJM) (“Altura” or the “Company”) is pleased to advise that it has expanded its relationship with current key shareholder Ningbo Shanshan Co. Ltd (“Shanshan”) with an equity investment to raise A$22.4 million.

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PGM PRODUCERS: Amplats to seek support for PGM downstream investment at industry’s August strategy meeting

ANGLO American Platinum (Amplats) CEO, Chris Griffith, hopes a meeting next month of the South African industry’s primary platinum group metal (PGM) producers will see the industry formulate a concerted plan to fund the market development of PGMs.

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PGM PRODUCERS: Amplats to seek support for PGM downstream investment at industry’s August strategy meeting

ANGLO American Platinum (Amplats) CEO, Chris Griffith, hopes a meeting next month of the South African industry’s primary platinum group metal (PGM) producers will see the industry formulate a concerted plan to fund the market development of PGMs.

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ESKOM: Restructuring of Eskom debt inevitable

  • Date: 23-07-19
  • Category: ESKOM
  • Source: Herald Live

A restructuring of Eskom's more than R440bn debt load is inevitable and the only issue is deciding on the distribution of the costs, according to one of the country’s top business people.

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WAGE NEGOTIATIONS: Amplats warns Amcu on ‘unsustainable’ wage hikes

Anglo American Platinum drew a clear line on wage hikes as it kicks off its response to its majority union’s demand for a 45% rise in basic salaries.

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PGM PRODUCERS: Implats to approach bondholders in effort to take 2022 bond conversion to 99%

IMPALA Platinum (Implats) said it had received acceptances for 88% of its $250m convertible bond repayment, equal to $220m, and was hopeful of increasing acceptances to 99% by approaching bondholders unable to participate for “administrative reasons”.

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