Latest news with #SouthAfrica-headquartered
eNCA
23-05-2025
- General
- eNCA
79 miners rescued from shaft, over 100 still underground
JOHANNESBURG - Rescuers have hoisted 79 miners who were stuck in a gold mine outside Johannesburg but more than 100 were still trapped underground, the mine's operator said on Friday. At least 260 miners were trapped underground on Thursday at the Kloof gold mine, 60 kilometres west of Johannesburg, after a hoist used to access the shaft was damaged in an accident, the mining company Sibanye-Stillwater said. The first phase of the rescue had brought 79 people to the surface by 1:30 pm (1130 GMT), it said in a statement. "Employees still underground have been provided with food and will be hoisted to surface as soon as the shaft safety examination has been completed," it added. The gold mine is one of the deepest operated by the South Africa-headquartered company. Desperate relatives of the miners waited outside the site on Friday evening, images broadcast on local television showed. The National Union of Mineworkers said the incident had occurred around 10:00 am (0800 GMT) on Thursday and expressed concern for the miners who had been "underground for almost 20 hours". Sibanye-Stillwater had earlier said the miners would be brought to surface around midday Friday. "The employees are not trapped; it was decided to keep them at the sub-shaft station for now," spokesperson Henrika Ninham said. Mining employs hundreds of thousands of people in South Africa -- the biggest exporter of platinum and a major exporter of gold, diamonds, coal and other raw materials -- and accidents are common. Dozens of mineworkers are killed each year, though numbers have been falling as safety standards have been stepped up over the past two decades. According to industry group Minerals Council South Africa, 42 miners died in 2024, compared to 55 the previous year.
Zawya
18-03-2025
- Business
- Zawya
Africa: MTN's annual profit hammered by Nigeria currency devaluation
MTN Group suffered a 69% slump in full-year earnings, Africa's biggest telecom operator reported on Monday, hit by devaluation of the Nigerian naira and operational challenges in Sudan. South Africa-headquartered MTN said its reported headline earnings per share (HEPS) - one of the main profit measures in the country - fell to 98c in the year to 31 December, down from 315c in 2023. Nigeria has suffered chronic dollar shortages that have forced authorities to devalue the naira as part of the government's measures to stabilise the currency and attract investment. Coupled with high inflation and interest rates, this has driven up costs and widened MTN Nigeria's pretax loss by more than 200% to ₦550.3bn ($355.76m). In Sudan, the group's operational and financial performance was hampered by ongoing armed conflict in the country, Group CEO Ralph Mupita said in a statement. MTN Group, which has 291 million customers across 16 markets in Africa, said its group service revenue decreased by 15% to R177.8bn ($9.78bn). In constant currency, group service revenue rose 14%. It declared a final dividend of 345c per share, up from 330c.
Reuters
17-03-2025
- Business
- Reuters
South Africa's MTN annual profit slumps as Nigeria currency devaluation weighs
JOHANNESBURG, March 17 (Reuters) - MTN Group (MTNJ.J), opens new tab on Monday reported a 68.9% tumble in full-year earnings as Africa's biggest telecom operator grappled with devaluation of the local currency and operational challenges in Sudan. South Africa-headquartered MTN said its headline earnings per share - one of the main profit measures in the country - fell to 98 cents in the year ended on December 31, from 315 cents in 2023. It declared a final dividend of 345 cents per share, up from 330 cents.
