http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.04Change: -0.16
R/$ = 12.07Change: -0.10
Au 1204.60 $/ozChange: 1.40
Pt 1170.50 $/ozChange: 4.00
 
 
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  
 
 
Jul 20, 2012

20/07/2012 (On-The-Air)

Back
safm20july2012
 
 
 
Engineering|Africa|Engineering News|Exploration|Mining|Mining Weekly|Platinum|Projects|Resources|Systems|Africa|Energy|Systems|Martin Creamer|Operations|Engineering News
Engineering|Africa|Exploration|Mining|Platinum|Projects|Resources|Systems|Africa|Energy|Systems||Operations|
engineering|africa-company|engineering-news|exploration|mining|mining-weekly-company|platinum|projects|resources|systems-company|africa|energy|systems|martin-creamer|operations|engineering-news-published-medium
© Reuse this

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

Gwala: An exciting new China/Africa investment fund throws its full weight behind the local beneficiation of South Africa’s metals and minerals.

Creamer: Mine and escape, that used to be the thing, get the metals and minerals and then do things with them elsewhere. Africa is not allowing this at the moment and that is fantastic. They are all singing from the same hymn sheet and we find countries like China wanting to collaborate.

This new fund is an example of collaboration where the Chinese say that we want the metals and minerals and Africans say that we want to add some value to them in Africa, so create a fund that can facilitate that.

This new fund is exciting from that point of view. It is the China Mining United Fund and it is the second version of it. It is a private equity fund and they want to come in near production stage, which may be a bit of a fault of the fund, because you like to get them also at exploration stage where the risk is there.

But, what they are saying is that they will also come behind the whole concept of reindustrialisation and industrialisation, which is exactly what our Ministers are saying. They are in China this week and talking about this whole thing and we see it manifested in the fund.

But, what is so great about this is that we had people in government that have now moved into business and one of them is Dr Alistair Ruiters who spent 11 years as the director-general of the Trade and Industry. So he understands this and now he is leading this new fund in Africa. That sort of depth is also important where a person gets good exposure in government then comes into business.

He is the Ruukki South Africa CEO at the moment, which is part of a much bigger Kermas group, Croatia-linked, and it is strange that the Croatians see the whole picture clearer then the South Africans, again this foreign involvement, and get this Chinese involvement. I think the China United Mining Fund has potential to help us reindustrialise with funding from China.

Gwala: One mining job in South Africa benefits 26 other people, a new 370-page research document – paid for by the Bafokeng community – finds.

Creamer: The Bafokeng, so dependent on mining. They have got their own operations now and they are the biggest shareholder in the world’s second biggest platinum company Impala Platinum.

They have obviously got to take any interference in mining very seriously and with the calls for nationalisation they have set up a massive study and it has ended up as a 370-page study. I

t has inputs from all over the world like Harvard University of the US, Lulea of Sweden and our three universities here Wits, Stellenbosch and Cape Town giving the thumbs down to nationalisation, but not in strident way. Acknowledging that there is popular anger that has to be dealt with, but saying that the way to do this in a developmental way is not through nationalisation.

Just look at how the mining spreads. One mining job underpins the livelihood of 26 other people. So, if you interfere with mining industry and you are unsuccessful the risk is huge because you are now dealing with 500 000 people are employed directly in our mines, that is 13-million people you are interfering with their lives. So, be very careful how you interfere with this.

They are also saying the dialogue is now urgent because they have linked up not only with all these international organisations and universities but they also linked up with the Southern Africa Institute of Mining and Metallurgy to be non-political to look at this in a non-ideological way. They say that dialogue is now urgent ahead of Mangaung.

They are using this document to set the scene for what needs to be done, because the big issue coming up is the resource rents tax. They are saying let’s not make South Africa uncompetitive by that, let’s really discuss that and make sure that it is not another serious impediment to investment which we already see slowing down very badly.

Gwala: New UK research could be a massive boost to South Africa’s treasure trove of platinum riches.

Creamer: We’ve got these platinum riches, we know the platinum price is down, now that is just a short term hiccup in the whole history of this.

Platinum is hugely valuable and the rest of the world sees it. We also, through our Science and Technology Ministry, and the Trade and Industry Ministry, and Mineral Resources Ministry, put up R100-million behind the research of the new hydrogen economy and to fuel-cells which we have been talking about here. If we don’t move fast, you find that the others get ahead of us.

Five major government-backed research and development projects are now underway in UK to speed up the adoption of energy systems using hydrogen and fuel-cell technologies to bring them in to everyday use. We’ve also got our Ministries going, but the Ministries must realise that there is competition here. We talk about our platinum value and we’ve got this great opportunity, we don’t want to end up sending this platinum out again, we want to use it within our country, a sort of Silicon Valley.

But it is too many words at the moment and not enough action. We do see the Department of Trade and Industry with the special economic zones, but they need to move a bit faster on how they do this and what sort of climate you create for developing fuel-cell technology and the new hydrogen age. Here we have got this opportunity because there is no substitute for platinum.

So, why not use this as a window of opportunity which the Anglo American CEO Cynthia Carroll she told COP17 in Durban last year that the window is wide open. We must get through this because it can create hundreds of thousands of jobs, if we do it correctly. So again let’s see that we can get ahead in developing a Silicon-type Platinum Valley for our platinum treasure trove so that we can do a lot of the value additions here.

Gwala: 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
South African mining and energy adviser Ted Blom has raised a litany of concerns about the state of power utility Eskom and has warned of runaway costs and shortfalls in coal and water, as well as rail capacity. Blom was surprised by the recent buoyancy shown by...
JSE-listed Astrapak will sell specialised packaging systems manufacturer Knilam to Mapflex SA for R17.7-million. The proceeds would be used to reduce Astrapak’s current level of gearing.
The last of the 26 mooring units comprising the Port of Ngqura’s automated mooring system (AMS) have arrived at the port and are expected to improve port efficiency and safety, further driving the Transnet National Ports Authority’s (TNPA’s) objective of establishing...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in 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...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
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.
 
 
 
 
 
This Week's Magazine
Sappi Southern Africa CEO Alex Thiel
Forest products group Sappi has confirmed the selection of its 25 MW biomass-to-power project, to be erected at its Ngodwana mill, in Mpumalanga, as a preferred bidder under the South African government’s Renewable Energy Independent Power Producer Procurement...
Information and communications technology (ICT) distributor DCC is making Windows- and Android-operating systems tablets available through retailers and education equipment suppliers to provide school children with affordable, high-performance education tools. The...
Another cement manufacturer is set to enter the Ugandan market, raising hopes that prices will come down and spur growth in the construction industry. National Cement, a Kenyan manufacturer, has unveiled plans to invest $195-million in a new manufacturing plant in...
With growth rates exceeding that in the developed world – at an average of between 4% and 5% between 2002 and 2014 – African countries provide investors with ample reason to tap into booming consumer demand says Manufacturing Circle executive director Coenraad...
The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) decreased by 3.7 index points month-on-month to 89.1 in March.
 
 
 
 
 
 
 
 
 
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