http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.29Change: -0.09
R/$ = 11.70Change: -0.05
Au 1207.85 $/ozChange: 1.57
Pt 1174.50 $/ozChange: -1.50
 
 
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  
 
 
Jun 04, 2010

04/06/2010 (On-The-Air)

Back
podsafm_04062010
 
 
 
© Reuse this



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

Letoaba: Chinese investors have made two bids in as many weeks for gold and platinum mines.

Creamer: Chinese investors in Africa have been very active, in South Africa, not as active, particularly in mining. Now we see them moving through and they go to stressed situations, and they look for bargains.

So, we see in the case of platinum, which is a fantastic world metal at the moment with a great future, they are looking at Wesizwe Platinum where there has been a problem with funding because of the international global meltdown, they found themselves in a funding problem.

Also, there have been problems with the community there, who are part owners. The Chinese are coming in with what you can add up to being R7-billion in all and this is Jinchuan, which is quite a big nickel company backed by Cadfund, which is a big Chinese Development funder.

They are wanting 51%, so that is another thing about it, they will get control if this deal goes through and it should take about three months. They will be prepared to fund the project, which will take many billions to do. Also, on the gold side we see now the Chinese making a bid for the troubled Aurora mines.

There is Orkney and Grootvlei and there has been a funding delay and now the Chinese have moved in there and want to possibly bid slightly more for Orkney and match what was bid for Grootvlei and buy Aurora, which is led by Zondwa Mandela and Khulubuse Zuma and possibly wrest control of that from people who are also having funding problems.

Letoaba: South Africa's new mineral beneficiation strategy will be handed in for Cabinet approval any day now. What can we expect to hear?

Creamer: Well, we can expect a new strategy in terms of adding value. When we look at beneficiation we add value. We haven't been doing that to any great extent in South Africa.

We mine a lot of minerals and metals, but we then export them. It is a very important thing to do, because you are earning foreign exchange and it earns about half our foreign exchange. But, for a long time now the governments of the bay have been looking at adding value and now Susan Shabangu has come forward with a strategy, which she is going to pass on to the cabinet.

This, I understand, is going to look at ten metals and minerals, so they won't look at everything, and they will create five value chains from those metals. The idea will be to create the value chains that build up a local demand for those metals and minerals, which normally go out of the country.

We can just look at chrome, for instance, we have a lot of chrome, I think most of the chrome in the world and we do beneficiate that to some extent, we take it to ferrochrome. But, we haven't done much in the stainless steel front although we produce about 1% of the world's stainless steel that is now owned by a Spanish company, no longer South Africa.

What we want to do is take it even further and develop more the autocatalysis side, which can also take in platinum. So, there is a lot of cross linkages that they want to do, but the big idea is to go downstream and create more jobs and more wealth.

Letoaba: Of course, on a lighter note, the Gautrain goes commercial from Tuesday. Exciting news.

Creamer: Exciting news. We thought that the Gautrain may not be ready for the World Cup, but people put their best foot forward and they've come in slightly ahead of their official schedule but definitely not below budget.

It is a R25,4-billion project which started off in the year 2000 where it was going to be R4-billion, then it went to R7-billion, but the reality ten years later is that it is R25,4-billion. The good news is that people coming in now to OR Tambo will be able to from 05h30 in the morning on Tuesday it will go commercial and they will be able to get on that and in 14 minutes be in Sandton.

They will be R100 and the R100 is for the casual users. So, it can go down to R16,50 when you actually have multiple use and you also use parking. It is linked to bus services as well, so you can get your one ticket, it is a smartcard, and you can get your bus backing, parking backing and also the train.

That will take you into Sandton at this point in time, only that one section of the line ready, but it is important for it to be ready because of the World Cup coming in.

Letoaba: Well, I must tell you Mr Creamer that I am getting on that Gautrain that very Tuesday and I'm very excited. 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
Salani Sithole
International consulting engineering company Royal HaskoningDHV (RHDHV) has appointed Salani Sithole as South African MD, effective March 1. Sithole has been with the company for six years and, prior to joining RHDHV, held various positions in engineering consulting,...
The Gauteng Provincial Government has outlined plans to develop a handful of “mega” human settlements as part of an ambitious long-term housing development strategy aimed at narrowing the housing backlog, with plans afoot to replace informal settlements with...
Eskom power stations
While State-owned power utility Eskom was unable to cut off electricity supply to some of its neighbouring trade partners, it was able to reduce energy exports by 10% when load shedding was implemented locally. The Department of Public Enterprise explained that Eskom...
More
 
 
Recent Research Reports
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
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 road...
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.
 
 
 
 
 
This Week's Magazine
National flag carrier South African Airways (SAA) is in an advanced stage of renegotiating its deal with European airliner manufacturer Airbus to acquire A320 single-aisle (or narrow body) aircraft. The aim is to replace ten of the aircraft still on order with five...
Worldwide, the main thrust in the ports industry over the past decade or more has been to increase efficiency. Traditionally, ports have been run by engineers and mariners and, in the past, increasing a port’s capacity was achieved by expanding the harbour. “That has...
What do you do when an elephant has a toothache? You call Dr Gerhard Steenkamp from the University of Pretoria’s (UP’s) faculty of veterinary science, Onderstepoort, one of only two elephant ‘dentists’ in the world.
The 2015 Sanlam/Business Partners Entrepreneur of the Year (EOY) competition was launched earlier this month in Johannesburg, with the main focus on creating and inspiring entrepreneurs to create jobs and boost the economy.
In a recent letter to the editor that I sent to Engineering News (Concerns regarding South African portion of Square Kilometre Array) and in a follow-up article elaborating further (We must start preparations to build our own synchrotron light source), I stated my...
 
 
 
 
 
 
 
 
 
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