http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.69Change: -0.13
R/$ = 10.64Change: -0.09
Au 1284.44 $/ozChange: 1.07
Pt 1402.00 $/ozChange: -1.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Nelson Mandela 1918 - 2013   Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science & Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 01, 2010

01/10/2010 (On-The-Air)

Back
podsafm_1102010
Antwerp|Energy|Engineering News|Johannesburg Stock Exchange|Mining Weekly|Petra Diamonds|Xstrata|South Africa|GIBS University|Energy|Transport|Northern Cape|Caesar Molebatsi|Martin Creamer|Engineering News
antwerp|energy-company|engineering-news|johannesburg-stock-exchange|mining-weekly-company|petra-diamonds-company|xstrata|south-africa|gibs-university|energy|transport-industry-term|northern-cape|caesar-molebatsi|martin-creamer|engineering-news-published-medium
© Reuse this



Every Friday morning, SAfm's AMLive's radio anchor Caesar Molebatsi speaks to Martin Creamer, publishing editor of Engineering News and Mining Weekly. Reported here is this Friday's At the Coalface transcript:

Molebatsi: At last, the Bafokeng community are listing their very own platinum company on the Johannesburg Stock Exchange.

Creamer: The Bafokeng community have been a model of how to develop themselves economically and now they no longer going to be the passenger in the plane, they are not even going to be co-pilot, they are going to be the pilot.

They have now got their own platinum assets and it is going to be under Royal Bafokeng Platinum. It is going to be listed on the Johannesburg Stock Exchange before the end of the year. We have seen them have interests in other companies and we've seen them build up their wealth and now they are going to be an owner and operator and manager with their own people in.

They are actually going to produce and market that platinum. So, a tremendous achievement for what will be RB Platinum.

Molebatsi: Now, of course, this is a real BBBEE investment. How many people benefit from this and how do they actually keep it up?

Creamer: There are about 300 000 people from this. You can see the visible demonstrable wealth creation when you go into Phokeng and you see the roads and the schools and the houses and even the sport stadiums.

One thing they do is that they hold their leadership to account. They even have mass meetings within the sports stadiums where they robustly ask questions of their leadership as to what they are doing with the wealth.

Molebatsi: A hundred years ago they made a wise investment didn't they?

Creamer: Well that King a hundred years ago realised the importance of title deeds. You must get title to the property and he sent a regiment down to Kimberley to earn some cash from the diamond mines.

Then they came running back and gave him that cash and he was able to buy this property, which has leveraged enormous wealth for the community.

Molebatsi: Well continue with matters related to diamonds, we understand that De Beers is to sell off another two of its South African diamond mines.

Creamer: De Beers has become a serial seller of diamond mines after being a pioneer here and it now can pass on the mines that no longer fit its criteria to others. We see that one persons poison may be another persons meat.

We saw Petra Diamonds take over five of their assets and doing very well with their assets. We saw this week Jagersfontein is going to a broad based BEE company and there is still more to sell. De Beers is still going to sell Namaqualand and also Finsch.

Finsch is an historic mine that has done very well in the Northern Cape, but it is no longer meeting those strict criteria, particularly commercial criteria, that De Beers have. So it is offering them to others and those negotiations are taking place as we speak.

Molebatsi: Mining has a major role to play to grow South Africa's economy, says global company Xstrata.

Creamer: You know, it seems like something that we shouldn't have to repeat, but Xstrata took the trouble to present at GIBS University this week to reemphasise the fact that actually the way South African economy is going to grow needs the mining industry, it needs that mining and beneficiation.

We see how much we lost out during the last boom. Most other mining countries grew by 5% during that 2001 to 2008. We shrunk by 1%, which means we lost 45 000 permanent job opportunities plus an injection of more then R50-billion into our economy.

We are seeing another boom starting to appear, because that economic meltdown was a financial meltdown that involved banks. It never actually changed the fundamentals of the commodities business, where demand is still strong and supply is static.

So, you know again we are moving into another bubble period for commodities and South Africa mustn't lose this time round. The last time we lost was mainly because of energy and transport constraints. We are still in those positions where we can not really beneficiate without energy.

You need energy and you can't export without getting your product to markets. So you need those two, logistics and energy.

Molebatsi: Now the President has been in Antwerp as you know and I was astounded that Antwerp has been dealing with diamonds for 500 years. The President was saying that after 500 years that surely they should be prepared to help us beneficiate.

Creamer: We need to beneficiate and things like diamonds wouldn't be an energy intensive situation, so there is more prospect for doing that.

But, if you want to beneficiate across the broad spectrum, of course, you need strong energy and we still haven't got all the answers out of the people who run our energy business and strong logistics and we still need some answers from the transport people.

Molebatsi: Thanks very much. Martin Creamer is publishing editor of Engineering News and Mining Weekly, he'll be back with us at the same time next week.

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other SAFM
More
 
 
Latest News
Updated 15 minutes ago Corobrik has secured the Diamond Arrow Award for the fourth consecutive year after survey respondents in the construction industry rated the brick supplier ahead of the pack. Last week, PMR.africa presented the award to Corobrik after the supplier achieved the...
Updated 17 minutes ago South African producer price inflation (PPI) again surpassed expectations in March, registering growth of 8.2% year-on-year from the 7.7% recorded in February, climbing to its highest level since February 2012 on the back of rising domestic price pressures, BNP...
More
 
 
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
 
 
 
 
 
This Week's Magazine
The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
MORE IN SA Phase 2 should see local content on the mainline locomotive increase from 65% to 80% by the end of 2014
The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
South Africa’s sole nuclear power station Koeberg, which is located in the Western Cape, breached a major operations milestone on April 4, which marked the thirtieth anniversary of Unit 1 having been connected to the grid. Eskom, which operates the two-unit plant,...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks