http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.93Change: 0.00
R/$ = 12.67Change: -0.01
Au 1095.49 $/ozChange: 0.31
Pt 984.00 $/ozChange: 2.00
 
 
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
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 01, 2010

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

Back
podsafm_1102010
 
 
 
Engineering|Africa|Diamonds|Export|Mining|Platinum|Roads|transport|Africa|Energy|Logistics|Product
Engineering|Africa|Diamonds|Export|Mining|Platinum|Roads|transport|Africa|Energy|Logistics|
engineering|africa-company|diamonds|export|mining|platinum|roads|transport|africa|energy|logistics|product
© 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 (150 word limit)
 
 
 
 
 
 
 
 
Other SAFM
More
 
 
Latest News
Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for...
Telecommunications group Telkom on Friday said it had posted a 1.7% uptick in net revenue for the three months to June 30, on the back of a strong performance by mobile on data revenue and higher fixed-line subscription revenue. Mobile net revenue for the first three...
Dangote Cement revised its 2015 spending plans to $1-billion from the $700-million estimated nine months ago after it commissioned two new African plants this June, Nigeria's biggest listed company said on Friday. The company, majority owned by billionaire Aliko...
More
 
 
Recent Research Reports
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Road and Rail 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Daimler truck test engineer Dirk Stranz pushes one button, and then retracts his hands from the steering wheel of the Mercedes-Benz Future Truck 2025. “And now the truck is driving itself.”
The statutory body responsible for skills development and support in the banking sector, BANKSETA, was investing R68-million in the capacity building project of the University of Venda (UniVen), announced Bankseta company secretary Caroline King at a media event in...
LIONEL MOYAL Cloud services providers must compete against other cloud services providers for business by providing up-to-date systems and services
Legacy information technology (IT) systems are becoming increasingly obsolete because of the maturity, efficiencies and cost effectiveness of cloud-based IT services, says information and communication technology major T-Systems subsidiary Intervate head Lionel...
ARMANDÉ KRUGER Balancing the collection and processing of data must be aligned to strategy
Many complementary services enable companies to derive broad value from data inside and outside them. The complexity of data management means that companies’ strategies determine the various data systems and functions they will use, says PBT Group regional sales...
The South African Civil Aviation Authority (SACAA) has announced that it had awarded the country’s first remotely piloted aircraft systems (RPAS) pilot’s licence. It was issued on Friday, July 10, to SACAA employee and qualified commercial pilot Nicole Swart,...
 
 
 
 
 
 
 
 
 
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
Subscribe Now for $96 Close
Subscribe Now for $96