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RAND: South Africa's rand rattled by power cuts, stocks led higher by Sibanye

  • Date: 16-10-19
  • Category: RAND
  • Source: Financial Post

JOHANNESBURG — The rand fell on Wednesday as power cuts by state utility Eskom highlighted the challenges facing South Africa’s ailing economy.

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WAGE NEGOTIATIONS: Sibanye-Stillwater hits optimistic note saying wage deal with AMCU “not quite there”

SIBANYE-Stillwater expressed optimism it might yet cut a wage deal with the Association of Mineworkers & Construction Union (AMCU) for employees at its platinum group metal (PGM) mines in Rustenburg. This is despite the matter having gone to arbitration – often a sign that strike action is the next, inevitable step.

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PGM PRODUCERS: Royal Bafokeng Platinum secures R2.1bn in cash-streaming agreement

Royal Bafokeng Platinum (RBPlat) has struck a R2.1bn deal to deliver gold to mining financier Triple Flag, the proceeds of which will be used to settle the costs of its recent acquisition of Bafokeng Rasimone Platinum Mine (BRPM).

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ESKOM: Eskom: Load shedding to be implemented on Wednesday 16 October

  • Date: 16-10-19
  • Category: ESKOM
  • Source: The South African

Eskom have treated us to a seven-month reprieve, but load shedding is officially back on the schedule. The lights are going out across the country on Wednesday.

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ESKOM: Zimbabwe Starts Further Power Cuts Due to Eskom Outages

  • Date: 16-10-19
  • Category: ESKOM
  • Source: Bloomberg

The power blackouts announced by South Africa’s Eskom Holdings SOC Ltd. will exacerbate power shortages in neighboring Zimbabwe.

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WAGE NEGOTIATIONS: South Africa’s Amplats CEO “confident we can reach agreement” with AMCU

Although marathon wage negotiations in the platinum sector have hit deadlock, Anglo American Platinum (Amplats) CEO Chris Griffith remains optimistic an amicable resolution is in sight.

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PGM PRODUCERS: RBPlat to settle Amplats debt following R2.1bn gold streaming deal with US investment firm

ROYAL Bafokeng Platinum (RBPlat) has sold gold by-product from its platinum group metal (PGM) operations to US investment firm Triple Flag for $145m in cash – enough to settle its outstanding debt with Anglo American Platinum (Amplats).

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ESKOM: SA’s Eskom to cut 2,000MW from grid as load-shedding makes unwelcome summer return

  • Date: 16-10-19
  • Category: ESKOM
  • Source: Mining MX

LOAD-SHEDDING, or rotational power cuts, returned to South Africa after the country’s power utility said shortages would see it reduce 2000MW in supply from today until about 11pm tonight.

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