Latest news with #Lourens
IOL News
06-05-2025
- Business
- IOL News
South African gold miners grapple with rising costs despite record prices
For Gold Fields, which operates the South Deep mine in South Africa, all-in-costs have been spiking. All-in-costs for South Deep AIC increased by 6% to R1,032,462 per kilogram in the March 2025 quarter from R974,315 per kilogram in the December 2024 quarter. Tawanda Karombo South African gold miners are being weighed down by elevated costs, with the Minerals Council of South Africa saying on Tuesday that the sector recorded the highest increase in input costs. This comes as Gold Fields recently said all-in-costs for the 2025 March quarter grew by 6%. Bullion prices have been surging to record highs in the past few weeks although South African producers of the precious metal have largely not raised production due to higher costs. Andre Lourens, an economist with the Minerals Council said the gold sector has been experiencing higher input cost inflation. 'In March, the gold sector recorded the highest average increase in input cost inflation, although benefiting from strong market prices - with gold averaging $2 986 per ounce. This underscores the ongoing cost pressures linked to mining deep-level, lower-grade ore bodies,' said Lourens. For Gold Fields, which operates the South Deep mine in South Africa, all-in-costs have been spiking. All-in-costs for South Deep increased by 6% to R1 032 462 per kilogram in the March 2025 quarter, up from R974 315 per kilogram in the December 2024 quarter. Gold Fields attributed this to 'lower gold sold in the current quarter, partially offset by lower capital' expenditure. Total capital expenditure for the South Deep operation fell by 42% to R431 million in the March 2025 quarter from R741m in the December 2024 quarter. 'The main expenditure items relate to a decrease in major component spend, UG mobile equipment replacement and refurbishments, surface infrastructure maintenance and new UG Infrastructure and maintenance,' said the company. Its production for the quarter decreased by 8% to 2 244kg due to ore phasing and lower volumes processed despite an increase in mined volumes. It was not just the gold sector that experienced higher mine input costs as the Minerals Council said South Africa's overall mining input costs rose by 3.6% in the first quarter of 2025. 'The increase in mining input costs moderated to 3.4% year-on-year in March, down from 3.8% in February, marking a continuation of the downward trend that began late last year,' said Lourens. 'While this is higher than the subdued 2.7% recorded in the fourth quarter of 2024, the outcome is unsurprising given volatility in both the domestic and global economy, much of which has intensified since January.' This comes as a 'complex set of pressures continues to shape the cost landscape' including global trade frictions, pressure on the rand, and fluctuating Brent crude oil prices, which have all raised input cost volatility. On the domestic front, 'political and economic uncertainty have further dampened sentiment, weighing on capital markets and prompting the South African Reserve Bank to maintain a cautious monetary stance,' necessitating a delay in much-needed interest rate relief. Chemical prices and intermediate industrial inputs also stayed high relative to last year, reflecting persistent pricing pressure in key upstream supply chains, explained the Minerals Council. Other mining sectors that took a big input cost include the chrome sector, with the third-highest increases recorded in iron ore, manganese, and other metallic minerals. Nonetheless, the coal sector experienced the lowest input cost inflation of the major commodities - offering some relative stability in the cost of producing coal. BUSINESS REPORT
Washington Post
24-02-2025
- Washington Post
First passengers in overturned Delta flight sue, alleging negligence
After Delta Connection Flight 4819 crashed onto a Toronto airport's tarmac and flipped over last week, Marthinus Lourens hung upside down, dangling from his fastened seat belt. Lourens released himself and fell to the ceiling of the aircraft, which seconds earlier had been above his head. By then, he was 'drenched with jet fuel,' according to a new lawsuit.
Yahoo
22-02-2025
- General
- Yahoo
Passengers on Delta flight file suit after fiery crash-landing in Toronto
At least two passengers on Delta Flight 4819, which caught fire and flipped over during a crash-landing at Toronto Pearson International Airport this week, are suing the airline and its subsidiary Endeavor Air. In the first lawsuit, filed in Georgia federal court late Thursday, Marthinus Lourens claims he was 'drenched with jet fuel' as the 'burning plane' rolled over and then went belly up. He was left with injuries to his head, neck, back, knees and face as a result, as well as additional injuries caused when he released his seatbelt and fell to the ceiling of the upside-down aircraft, according to the complaint. Lourens says he has also been struggling with 'severe emotional distress and mental anguish' in the days since the crash. He's seeking more than $200,000 in damages. Another suit from passenger Hannah Krebs was filed in Minneapolis federal court on Friday, accusing the flight crew of 'gross negligence and recklessness' and 'inadequate training and supervision' by Delta. She recalls how she was 'violently thrown' around in the plane's cabin alongside the other passengers as the Mitsubishi CRJ-900LR jet attempted to touch down in Toronto. As a result, Krebs says she suffered extreme physical and emotional injuries, leading to economic losses. She's seeking an unknown amount in compensation. 'This was a preventable accident that never should have occurred,' attorney Jim Brauchle said in a statement to NBC News. 'The passengers on Delta Flight 4819 had their lives forever changed having endured such a traumatic experience.' The pair of lawsuits comes after Delta offered those passengers $30,000 each, telling them it 'has no strings attached and does not affect rights.' Lourens and Kerbs were among 80 people — 76 passengers and four crew members — on Delta Flight 4819 when it took off from Minneapolis/St. Paul International Airport on Monday. Operated by Endeavor Air, the aircraft started to falter as it neared Toronto Pearson. Videos shared online show the plane touching down and skidding across the snow-covered tarmac, then bursting into flames before it flips overs and come to a stop. Everyone onboard survived the chaos, though 21 people were hospitalized. They have all since been released, airline officials said. As of Saturday, the cause of the crash was still unclear. The Transportation Safety Board of Canada is investigating the incident alongside a team of U.S. investigators with the National Transportation Safety Board. _______
Yahoo
22-02-2025
- General
- Yahoo
Passengers on Delta flight file suit after fiery crash-landing in Toronto
At least two passengers on Delta Flight 4819, which caught fire and flipped over during a crash-landing at Toronto Pearson International Airport this week, are suing the airline and its subsidiary Endeavor Air. In the first lawsuit, filed in Georgia federal court late Thursday, Marthinus Lourens claims he was 'drenched with jet fuel' as the 'burning plane' rolled over and then went belly up. He was left with injuries to his head, neck, back, knees and face as a result, as well as additional injuries caused when he released his seatbelt and fell to the ceiling of the upside-down aircraft, according to the complaint. Lourens says he has also been struggling with 'severe emotional distress and mental anguish' in the days since the crash. He's seeking more than $200,000 in damages. Another suit from passenger Hannah Krebs was filed in Minneapolis federal court on Friday, accusing the flight crew of 'gross negligence and recklessness' and 'inadequate training and supervision' by Delta. She recalls how she was 'violently thrown' around in the plane's cabin alongside the other passengers as the Mitsubishi CRJ-900LR jet attempted to touch down in Toronto. As a result, Krebs says she suffered extreme physical and emotional injuries, leading to economic losses. She's seeking an unknown amount in compensation. 'This was a preventable accident that never should have occurred,' attorney Jim Brauchle said in a statement to NBC News. 'The passengers on Delta Flight 4819 had their lives forever changed having endured such a traumatic experience.' The pair of lawsuits comes after Delta offered those passengers $30,000 each, telling them it 'has no strings attached and does not affect rights.' Lourens and Kerbs were among 80 people — 76 passengers and four crew members — on Delta Flight 4819 when it took off from Minneapolis/St. Paul International Airport on Monday. Operated by Endeavor Air, the aircraft started to falter as it neared Toronto Pearson. Videos shared online show the plane touching down and skidding across the snow-covered tarmac, then bursting into flames before it flips overs and come to a stop. Everyone onboard survived the chaos, though 21 people were hospitalized. They have all since been released, airline officials said. As of Saturday, the cause of the crash was still unclear. The Transportation Safety Board of Canada is investigating the incident alongside a team of U.S. investigators with the National Transportation Safety Board. _______
CBC
22-02-2025
- CBC
2 passengers file lawsuits after Delta plane crash in Toronto
Two people who were on a plane that crash landed at Toronto's Pearson airport on Monday are suing Delta Air Lines and its subsidiary Endeavor Air. The lawsuits were filed separately in U.S. District Court in Georgia and Minnesota and allege negligence. The Georgia lawsuit, filed Thursday on behalf of Marthinus Lourens of Texas, alleges he was drenched with jet fuel as the plane rolled upside down, and that he suffered significant injuries and emotional distress. DJC Law said in a news release that lawsuit alleges the defendants were negligent in the operation, maintenance and management of the flight, which it alleges directly contributed to the crash. It said the lawsuit is demanding a jury trial and seeks compensatory and punitive damages. The complaint says that under the Montreal Convention, which requires airlines to pay damages when passengers are hurt or killed, the defendants are liable to Lourens for provable damages of up to roughly US$200,000, along with additional damages due to alleged negligence. "DJC Law is committed to ensuring full accountability and justice for Mr. Lourens as he seeks compensation for his suffering and losses," lawyer Andres Pereira said in a statement. The other complaint, which also lists Delta and Endeavor as defendants, alleges Hannah Krebs of Minneapolis suffered extreme bodily and mental injuries and economic losses because of Monday's crash. Motley Rice LLC, which filed the lawsuit on behalf of Krebs on Friday, said in a news release that it was seeking compensation including damages for physical and emotional injuries. The lawsuit does not specify an amount. Video shows moment Delta plane crashed, flipped at Toronto's Pearson airport 3 days ago Duration 6:30 New cellphone video emerges showing the moment a Delta Air Lines plane crashed and flipped over on landing at Toronto's Pearson International Airport as an investigation gets underway into what went wrong. The lawsuit alleges Delta and Endeavor were negligent, the flight crew failed to adhere to standard landing procedures, and inadequate training and supervision contributed to the crash. "As a former U.S. air force navigator, I understand the challenges that flight crews often face in the moment, but adhering to established protocols is critically important to ensure passenger safety," lawyer Jim Brauchle, who represents Krebs, said in a statement. "This suit seeks to hold Delta and Endeavor Air accountable for actions we believe led to a preventable catastrophic event." None of the allegations in the lawsuits have been tested in court. A spokesperson for Delta said it was declining to comment on pending litigation. Delta has offered US$30,000 in compensation to passengers who were on the plane, saying the money "has no strings attached and does not affect rights." On Monday afternoon, a Delta plane hit the tarmac and then tipped over, creating a fireball as its wing scraped along the ground before it rolled over and came to a stop in a cloud of smoke. All 76 passengers and four crew members survived Monday afternoon's crash landing, though 21 were taken to local hospitals to be treated for injuries. All have since been released.
