Kumba Iron Ore

The fallout from the mining strikes in South Africa has already made a dent or two in the economic statistics. It has also had repurcussions for several companies – Lonmin in particular. Now Kumba Iron Ore, majority owned by Anglo American, has issued a profits warning.

Shares in Kumba fell nearly 3 per cent in Johannesburg on Tuesday. The company said in a statement that full year earnings for 2012-13, to be announced in February, could be 20 per cent lower than in the previous year. Read more

Who will blink first in the South African mining standoff? On Tuesday, Gold Fields, the gold miner, delivered a “final ultimatum” to the workers still on strike at two of its mines, who face dismissal if they aren’t back at work by Thursday.

But one of the main unions said dismissals were “not the way to go” and urged mine bosses to withdraw the threat. Read more