Sibanye Gold LtdNYSE
Mon, Nov. 28, 9:57 AM
- South Africa's mining industry is at risk of collapse due to political unrest and labor instability which have negatively impacted investment into the country, Sibanye Gold (SBGL +1.2%) CEO Neal Froneman tells Reuters.
- "We sit on a knife edge as an industry. It could well collapse, and that means it's unlikely that Africa's potential will be realized because resources will be sterilized," the CEO says at the Investing in African Mining seminar in London.
- South Africa's mining sector, which accounts for ~7% of GDP, opposes the introduction of regulations and laws that could see the powers of the mining minister increase and black ownership commitments of companies rise.
- Ratings agencies Fitch and Moody's on Friday kept their ratings on South Africa unchanged but Fitch cut its outlook for the economy to negative, citing concerns over political risk and low growth.
- Other relevant tickers include GFI, GOLD, AU, HMY, OTCPK:AAUKF, OTCPK:AAUKY.
Wed, Nov. 9, 10:51 AM
- Gold has pared early gains approaching 5%, now just +1% at $1,287.70/oz., with silver +1.5% at $18.64/oz., but precious metals mining stocks continue to enjoy strong gains.
- “The market is telling you that the mining sector is the biggest beneficiary of a Trump election, particularly precious metals,” says Investec Securities analyst Jeremy Wrathall.
- Among precious metals miners today: ABX +3.5%, NEM +4.3%, GG +5.6%, AEM +4.2%, SLW +3.4%, KGC +4.2%, RGLD +5.1%, EGO +3.8%, NG +5.8%, GOLD +5%, GFI +5.5%, AU +4.5%, HMY +5.9%, SBGL +7.1%, FNV +3.8%, AUY +5.3%, IAG +4.6%, BTG +6.3%, NGD +7.6%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, DUST, PSLV, SIL, PHYS, USLV, SIVR, SGOL, ZSL, GLDX, UGL, DGP, GTU, UGLD, GLL, DZZ, SLVO, SGDM, GLDI, ASA, DSLV, OUNZ, SLVP, DGL, RING, DBS, DGZ, DGLD, PSAU, TGLDX, GYEN, USV, GEUR, UBG, GDXX, GDXS
Thu, Oct. 13, 2:16 PM
Tue, Oct. 11, 11:22 AM
- Sibanye Gold (SBGL -4.3%) considered a combination with Impala Platinum (OTCQX:IMPUY) this year but later decided a deal would be too expensive to pursue, Bloomberg reports.
- The companies’ shares have moved in opposite directions in recent months - with Impala surging 45% as SBGL slipped 14% since the beginning of June - making any stock-based deal pricier, but SBGL remains open to revisiting the deal if conditions improve in the future, according to the report.
- Impala is said to have been just one of many companies that SBGL analyzed as part of a strategy to expand mining assets in South Africa.
Wed, Oct. 5, 11:17 AM
- Sibanye Gold (SBGL -3.2%) shares begin to bounce off three-month lows after the miner suspended operations yesterday at its Cooke mine in South Africa, which produces 10%-15% of the company's gold.
- Four workers were assaulted, with two in critical condition, following violence related to illegal industrial action after a union membership verification process.
- SBGL says Cooke now has resumed normal operations after the industrial action was called off yesterday.
Tue, Oct. 4, 2:20 PM
- Precious metals miners are slammed as gold prices dip well below $1,300/oz. to settle at $1,269.70, its lowest since the U.K.'s Brexit vote in June, as upbeat U.S. manufacturing data yesterday has stoked expectations of higher interest rates.
- Gold is “falling off the cliff,” says Naeem Aslam, chief market analyst at ThinkMarkets. “Traders are buying the equity market with both hands, especially over in the U.K.” as the British pound declines.
- Among precious metals miners today: ABX -9.2%, KGC -10.4%, GG -7.8%, NEM -8.7%, EGO -7.4%, RGLD -7.8%, AEM -8.9%, NG -9.7%, SLW -9.1%, FNV -5.6%, IAG -11.2%, GOLD -8.1%, AU -9.3%, GFI -6.4%, SBGL -8.1%, HMY -9.9%, AUY -11.6%, BTG -9.3%, NGD -6.6%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, SILJ, RING, PSAU, SGDJ, TGLDX, GDJJ, GDXX, GDXS
Tue, Oct. 4, 9:24 AM
Wed, Sep. 21, 5:55 PM
- Newmont Mining (NYSE:NEM) was today's best-performing stock in the S&P 500 and precious metals miners gained across the board, enjoying a big boost from the Fed’s decision to keep interest rates unchanged.
- NEM even outperformed the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) - +7.5% vs. +7% - and Credit Suisse analysts say business in looking up for the miner, as NEM continues to meet or beat cost and production targets, as well as strengthen its portfolio.
- The firm adds that NEM believes shareholders appreciate its predictability, discipline and defining growth based on free cash flow rather than production.
- Also today: ABX +8.6%, GG +7%, AEM +7.1%, EGO +5.7%, KGC +7.6%, SLW +7.8%, FNV +4.8%, RGLD +9.6%, IAG +7.9%, GOLD +4.7%, AU +10.4%, GFI +9%, SBGL +9.5%, HMY +11.8%, AUY +7.6%, BTG +6.3%, NG +8.1%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Fri, Sep. 16, 5:46 PM
Fri, Aug. 26, 5:35 PM
Wed, Aug. 24, 2:30 PM
- Shares of gold miners are sharply lower as gold futures fall 1.2% to settle at a one-month low $1,329.70/oz., closing below its 50-day moving average for the first time since June 7.
- The top gold miners ETF (GDX -6.3%) trades well below its 50-day moving average of $29.09 and is on pace for its first four-day losing streak since early November.
- Investors are dialing down bullish bets on gold ahead of Friday's scheduled remarks from Janet Yellen, says Peter Hug, global trading director at Kitco Metals.
- Among top mining stocks: ABX -8.4%, NEM -6.7%, GG -8.7%, KGC -9%, AEM -6.3%, SLW -7.3%, RGLD -7.3%, EGO -7.2%, GFI -5.1%, AUY -8.8%, GOLD -5%, HMY -5.7%, SBGL -4.9%, IAG -8.7%, BTG -6.9%, NG -7.3%, FNV -6%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, UGL, DGP, UGLD, GLL, DZZ, SGDM, ASA, SLVP, DGL, RING, DGZ, DGLD, PSAU, TGLDX, UBG, GDXX, GDXS
Thu, Jul. 28, 12:59 PM
- Barrick Gold (ABX -1.5%) believes it could fetch as much as $1B for its 50% stake in the Kalgoorlie Super Pit mine in Australia, Bloomberg reports.
- ABX, which announced plans to sell its stake alongside its Q2 earnings, reportedly aims to sell in the next few months, and expects to attract interest from Australian, Chinese and other global miners in addition to Newmont Mining (NEM -0.3%), which has signaled it would be wiling to buy ABX's stake at the right price.
- However, Sibanye Gold (SBGL -2.2%) says it will not make an offer for the assets of ABX's Acacia Mining unit; Reuters reported earlier this week that ABX is weighing a sale of its majority stake in Acacia and has approached several South African miners.
Tue, Jul. 26, 12:52 PM
- Barrick Gold (ABX +2.6%) is considering a sale of its 64% stake in African unit Acacia Mining and has approached several South African miners, Reuters reports.
- ABX has reached out to South African miners Harmony Gold (HMY +4.4%), Sibanye Gold (SBGL +5.3%), AngloGold Ashanti (AU +2.6%), Randgold Resources (GOLD +1.3%) and Gold Fields (GFI +5.4%), as well as some Australian and North American miners, according to the report.
- Acacia owns three producing gold mines in Tanzania, as well as exploration projects in the country and other parts of Africa.
Thu, Jul. 14, 5:36 PM
Wed, Jul. 6, 9:16 AM
Fri, Jul. 1, 9:13 AM