http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.09Change: -0.10
R/$ = 10.74Change: -0.08
Au 1264.65 $/ozChange: -22.53
Pt 1410.00 $/ozChange: -14.00
 
 
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 Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 01, 2010

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

Back
podsafm_1102010
Antwerp|Engineering|Africa|Engineering News|Johannesburg Stock Exchange|Mining Weekly|Petra Diamonds|Platinum|Roads|Xstrata|Africa|South Africa|GIBS University|Energy|Logistics|Mining|Product|Transport|Diamonds|Northern Cape|Caesar Molebatsi|Martin Creamer|Engineering News
Engineering|Africa|Platinum|Roads||Africa|||Energy|Logistics|Mining|Transport|Diamonds|||
antwerp|engineering|africa-company|engineering-news|johannesburg-stock-exchange|mining-weekly-company|petra-diamonds-company|platinum|roads|xstrata|africa|south-africa|gibs-university|energy|logistics|mining|product|transport-industry-term|diamonds|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 (150 word limit)
 
 
 
 
 
 
 
 
Other SAFM
More
 
 
Latest News
Updated 3 minutes ago Despite various challenges related to the extraction of shale oil and gas, as countries became grow accustomed to the idea, the use of shale as a form of energy will be more widely pursued, international oil and gas market analyst Michael Lynch said on Tuesday....
Updated 6 minutes ago A consortium led by two Kenyan firms won a government tender to build a 1 000-MW, coal-fired power plant, company officials said on Tuesday, part of moves to satisfy rising demand for energy in East Africa's biggest economy. Kenya suffers from regular blackouts due...
TNPA CEO Tau Morwe
Updated 12 minutes ago The announcement of the successful bidder for the construction of Durban’s long-awaited passenger cruise terminal was imminent, Transnet National Ports Authority (TNPA) CEO Tau Morwe told delegates at the African Ports Evolution Conference in Durban on Tuesday. ...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
South African State-owned defence industrial group Denel has announced its fourth consecutive year of profits. The group's results for the financial year 2013/2014 were recently announced at its head office in Centurion, south of Pretoria. Revenues grew by 17%, net...
There is little opportunity for JSE-listed infrastructure company Group Five to grow shareholder value in the domestic market, says CEO Mike Upton. He says value can still be found in the private sector, in the renewable and industrial power sector, as well as in...
The National Association of Automobile Manufacturers of South Africa (Naamsa) has announced the event dates of the 2015 Johannesburg International Motor Show (JIMS). The event will take place from October 14 to October 25, 2015, at the Johannesburg Expo Centre, Nasrec.
UK engineering support services provider Babcock is set to deliver the largest order of global truck manufacturer DAF’s truck tractors in Southern Africa to bulk carrier road-based logistics company Ngululu Bulk Carriers (NBC), with 133 trucks to be delivered in...
Digital radio communications in the African local government space can open up the world, but have many challenges to overcome, notes integration and migration of legacy radio communications infrastructure with digital mobile radio company Emcom Wireless head of...
 
 
 
 
 
 
 
 
 
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