http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.69Change: -0.05
R/$ = 12.32Change: -0.01
Au 1168.78 $/ozChange: -0.02
Pt 1083.00 $/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
 
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  
 
 
Dec 02, 2011

02/12/2011 (On-The-Air)

Back
safmpod_24122011
 
 
 
Engineering|Africa|Botswana|Building|CoAL|Diamonds|Environment|Gas|Mining|Africa|Service|Services|Environmental|Iron Ore|Iron-ore|Power
Engineering|Africa|Botswana|Building|CoAL|Diamonds|Environment|Gas|Mining|Africa|Service|Services|Environmental|Iron Ore|Iron-ore|Power
engineering|africa-company|botswana|building|coal|diamonds|environment|gas|mining|africa|service|services|environmental|iron-ore|iron-ore-person|power
© Reuse this



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

De Gouveia: Some very interesting news coming through, good news for some 6 200 iron-ore workers.

Creamer: I call it the pretty face of black-economic empowerment. It has come shining through for 6 209 iron-ore workers who have become half-millionaires over night.

This is thanks to Kumba Iron Ore. Five years ago they gave share options to their workers, everybody below management from the cleaners to the tea makers and across the board, they offered these shares. It was only 3% of the company, which looks a very meagre amount, but that 3% over 5 years has become worth nearly R3-billion.

They have seen a magnificent uplift in the value of the shares and they have also been getting their dividends along the way.

Now this first ESOP as they call it, which is an employee share ownership plan, has matured. So, before Christmas you will have 6 209 shareholder workers from Kumba Iron Ore becoming half-millionaires pre-tax.

De Gouveia: That is the kind of bonus we are talking just ahead of Christmas. They certainly are leading the way setting quite a high bar if one can put it that way for other companies.

Creamer: We hear of CEOs and top management and MDs getting these share options, that is why a guy becomes a CEO, he wants those share options. You don’t hear of workers getting share options.

Just look at what it has done for this company, their productivity is huge, their unions have backed this all the way. It is from the ordinary workers share in this without any discrimination and you see that it has set an example for the world.

De Gouveia: Certainly is good and I’m sure they are all going to be have a fantastic Christmas.
Moving on to some other news this week. Canada prepares to take on Botswana in the new fight for world diamond dominance. Tell us more about that.

Creamer: In Southern Africa, we just look across the border and we see Botswana as a diamond giant, almost what Saudi Arabia is to oil, Botswana is to diamonds.

You think that they are going to dominate this without a fight, because they are up at 27% of the world diamonds by value. You start forgetting about other countries, where there is also a lot of diamond mining. I must say that Canada is popping up very sharply.

There is a lot of new diamond mines coming up there. They are not only saying that they are going to diamond mine, they are starting to go through the rhetoric that Botswana has taken a long time to go through.

Botswana is now saying that it wants to cut and polish, make jewellery, wants to have financial services and all the other aspects of diamond aggregations that people come to Botswana and Gaborone to select their diamonds.

Canada is now talking the exact same language that they also want to do this. You say to them but how are you going to compete on the cutting side with countries like China and India. The advantage of China and India is slipping away very fast because of technology.

The new technology that is coming through enables people to do it at a very high level. Because the wage inflation is rising dramatically in India and China and wage inflation is very low in Canada, it is becoming a different story.

I think Botswana, when they muscled De Beers into taking the centre of gravity of diamonds from London and putting it in Gaborone – and they succeeded in doing it and that process is taking place – I hope they never got the idea that they have got a monopoly there.

De Gouveia: There is nothing quite like good competition to motivate people to work harder.

Creamer: Yes, lets hope they do.

De Gouveia: COP 17 dominating headlines this week and some interesting news coming through that the South African Weather Service has now got a dual job – it must now also blow the whistle on air pollution transgression.

Creamer: This is very interesting. The new legislation that is coming through, the South African Weather Service Amendment Bill, which has been Gazetted, adds a new weapon to the arsenal of the services and gives them a new job.

They become pollution watchdogs. It is coming just at the COP 17 time and we see that one of their phases, and they are going to go through various phases of this monitoring process, the first phase is to actually set the building blocks in place and get all the legislative framework right. Part of the second phase is actually to also deal with not only the normal air pollution, but also the greenhouse gasses that they are talking about in Durban, the carbon dioxide emissions.

They are over time going to take over the role – we have got 94 monitoring stations around the country and we build new ones quite regularly – they are in the process now of taking over these air quality monitoring stations around the country from the Department of Environmental Affairs.

They are working with them on this new issue where almost in real time in the third phase, they will move towards a real time monitoring of air pollution and greenhouse gas emissions, so that they can actually see in real time what is happening and if these people transgress then you can move much faster.

We see that the whole idea is to improve South Africa’s situation with regards to clean air and environment. Interestingly you see them also setting up now these air quality monitors being built in Limpopo province.

You know, Mpumalanga is the pollution hot spot at the moment, everything from greenhouse gas emissions to Nox and Sox and nitrogen oxides and sulphides coming into the air, but it is going to happen one in Limpopo, because we see the big Medupi power station going up there and talk of other coal-fired power stations.

This is being prepared through new legislation coming through Parliament now where the South African Weather Service won’t only just forecast weather, but they will also forecast pollution.

De Gouveia: 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
An end to wage negotiations within the local government sector could be in sight as a conciliator’s proposal, setting out a number of settlement suggestions to resolve the deadlock, was expected on Monday. The Independent Municipal and Allied Trade Union (Imatu)...
Development financier Eastern Cape Development Corporation (ECDC) executive Noludwe Ncokazi on Friday said the organisation had the “huge responsibility of ensuring business continuity”, following the resignation of ECDC subsidiary Automotive Industry Development...
South Africa’s second-largest oil refinery, Engen Refinery (Enref), is set to undergo a three-day planned maintenance outage from July 9 as part of an ongoing maintenance programme to ensure that the facility, which delivers a significant portion of South Africa’s...
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
NHLANHLA NENE The main constraints to economic growth are domestic
Finance Minister Nhlanhla Nene earlier this month stated that, while South Africa’s 2015 economic growth target of 2% was achievable, it was not enough to deliver the tax revenue needed to combat the country’s challenges.
The World Steel Association has published the 2015 edition of the World Steel in Figures report, which shows an increase in steel production as well as provides an overview of steel industry activities from crude steel production to apparent steel use.
The 25-year master plan for Gauteng’s Aerotropolis project will go through a process of approval and adoption during June and July, says Aerotroplis project manager Jack van der Merwe. “We are also in the process of putting together a special purpose vehicle (SPV) to...
SOLAR PANELS The existing buildings in the Coega Industrial Development Zone lent themselves well to rooftop solar panel installations
The Coega Development Corporation (CDC) plans to fit 15 of its buildings, totalling 127 000 m2 of roof space, in the Coega Industrial Development Zone (IDZ), in the Eastern Cape, with solar panels.
The Supreme Court of Appeal’s (SCA’s) November 2014 judgment, ordering steel producer ArcelorMittal South Africa (AMSA) to hand over the 2003 Environmental Master Plan for its Vanderbijlpark steel plant to environmental pressure groups, confirmed the right of civil...
 
 
 
 
 
 
 
 
 
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