Finance News Archives | Page 7 of 11

Gold Fields Limited Announces CFO Retirement and Leadership Transition

Gold Fields Limited announced the retirement of CFO Mr. Paul Andy Schmidt, effective from April 30, 2024.
Mr. Alex Dall appointed as Interim CFO starting May 1, 2024, ensuring a smooth transition in leadership.
The process to appoint a permanent CFO is in its final stages, with an announcement expected soon.

MC Mining Limited, previously Coal of Africa Limited, underwent a leadership change with Mr. Nhlanhla Nene’s resignation as Chairman.
Challenges during the pandemic led to financial restructuring, including a rights issue that revitalized key coal projects.
The company’s strategic realignment and enhanced stakeholder value position MC Mining for sustained growth and success.

Clicks Group’s interim results demonstrate strong financial growth and resilience in a challenging market environment.
Key highlights include increased turnover, margin expansion, and strategic initiatives for future growth and profitability.
The company’s commitment to shareholders is evident through higher dividends and a positive outlook for earnings growth.

Copper 360 Limited faces suspected market manipulation due to unusual trades, leading to price drops and legal inquiries.
The company takes legal steps, requesting investigations by the FSCA and initiating an inquiry under the Companies Act.
Potential consequences include loss recovery, criminal charges, and implications for investors, regulators, and market integrity.

Trustco Group Holdings Limited acquires additional interest in Legal Shield Holdings Limited, signaling strategic expansion.
The acquisition aims to increase net asset value, benefit from post-Covid capital growth, and simplify investment portfolios.
Legal Shield Holdings’ financial performance and land portfolio contribute significantly to Trustco’s growth strategy.

Hulamin Limited’s Equity-Settled Conditional Share Plan aligns executive compensation with long-term shareholder value creation, fostering sustainable growth.
Recent awards of Performance Shares and Bonus Shares to directors and key executives demonstrate confidence in the company’s prospects.
Adherence to regulatory requirements and a culture of performance-based rewards underpin Hulamin’s commitment to transparency and good governance.

Former Tshwane Mayor Murunwa Makwarela has passed away after a brief illness, as announced by his family.
Makwarela resigned from his mayoral position amid allegations of submitting a fake insolvency rehabilitation certificate.
The city of Tshwane is still in the process of recouping over R1.4 million that was paid to Makwarela while he served as Speaker, highlighting ongoing financial concerns and legal disputes.

Sasol Limited’s mining sector saw a slight decrease in saleable production but an improvement in mining productivity.
The gas sector witnessed growth in production volumes, particularly in Mozambique, and increased sales in South Africa.
Sasol’s financial hedging strategies include zero-cost collar instruments, ethane swap options, and Brent crude oil put options

Terra Nova Technologies, Inc. and Ingeniería y Construcción Sigdo Koppers S.A. secured a US$200 million EPC contract.
The contract includes critical components like a primary crushing facility, an overland conveyor, and a power transmission system.
TNT’s success reflects its expertise, resilience post-COVID, and strategic positioning in the mining industry.

Merafe Resources Limited reported a 26% decrease in ferrochrome production for Q1 2024 compared to the previous year.
The Rustenburg smelter’s non-operation in 2024 due to market conditions significantly impacted Merafe’s production levels.
Market conditions, supply chain challenges, and technological innovations are key factors influencing ferrochrome production in the industry.