http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.03Change: -0.11
R/$ = 11.67Change: -0.14
Au 1214.92 $/ozChange: -2.58
Pt 1187.50 $/ozChange: -3.00
 
 
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  
 
 
Mar 27, 2009

27/03/2009 (On-The-Air)

Back
podsafm_27032009
 
 
 
Engineering|Gold|Africa|CoAL|Exploration|Flow|Mining|Nuclear|Renewable Energy|Renewable-Energy|Screen|Storage|Water|Africa|Energy|Flow|Nuclear|Power|Water
Engineering|Gold|Africa|CoAL|Exploration|Flow|Mining|Nuclear|Renewable Energy|Renewable-Energy|Screen|Storage|Water|Africa|Energy|Flow|Nuclear|Power|Water
engineering|gold|africa-company|coal|exploration|flow-company|mining|nuclear-company|renewable-energy|renewable-energy-company|screen|storage|water-company|africa|energy|flow-industry-term|nuclear-industry-term|power|water
© Reuse this



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

Modise: In an hour’s time South Africa will be launching its first major onslaught against global warming with the opening on a new clean-coal technology centre. Tell me more.

Creamer: At nine o’clock today the Minister of Minerals and Energy Buyelwa Sonjica will represent South Africa’s first onslaught against global warming. She will be opening this new clean-coal-technology centre called the Centre for Carbon Capture and Storage.

This carbon capture and storage is something that was punted by the new US President, Barack Obama, during his campaign. We also see that the Prime Minister of the UK, George Brown, is saying it must happen. The International Energy Agency wants 200 of these before 2030.

At the G8 Summit that is coming up soon, this is going to be an issue. People are really backing coal. We are a coal-based economy and we can see the world not wanting to move away from coal. Even though this carbon capture-and-storage technology is going to be expensive, they are still backing it ahead of going straight into nuclear.

If it becomes too expensive, nuclear might very much come into its own beforehand. What is envisaged it that the carbon capture and storage is taking that carbon dioxide that is pumped into the air by these power stations, capturing it and then injecting it into the ground.

It is a way of giving a breathing space so all the renewable energy initiatives can come in that will not be carbon forming.

Modise: The pouring of the first commercial gold from under the City of Gold is on track for the middle of this year. I thought mining was taken to other parts of the country and was no longer taking place in the City of Gold.

Creamer: Johannesburg, mining began here 123 years ago. We have forgotten about those days, but they’re returning. We see Central Rand Gold, which is listed on the London Stock Exchange and the Johannesburg Stock Exchange, now coming forward with an announcement that the first commercial gold coming out of there will be mid-2009.

By the end of 2009 they will be producing at a rate of 100 000 ounces a year. Then they want to move in 2010 to 250 000 ounces and eventually a million ounces a year from 2012. There is still a lot a gold under Joburg.

This is now being recognised by this company, Central Rand Gold. They are using techniques that are new, of course. There will be low-noise blasting and no mine dumps. They promise that they won’t pollute any water and they are using mechanised mining techniques more common in coal mining.

So, we see a lot of difference there now coming through. These old names that we remembered like Consolidate Main Reef, which is where they have started mining now, Crown Mines and Village Deep, Robertson Deep, all there old names are starting to come back on to the radar screen.

Modise: Finance Minister Trevor Manual is offering a 100% tax write-off to new small-mining initiatives.

Creamer: Yes, Trevor Manual wanted to emulate Canada. They have the flow-through scheme, which has created a mining investment culture second to none, with big investment in Canada, Toronto and Vancouver.

We thought that we are a mining country and we needed to emulate this. Trevor Manual then got studying this with his Treasury and then decided with the Minerals and Energy that they were going to reject this idea of just copying the Canadians with their flow-through scheme and would introduce a new scheme, which is quite interesting and it actually begins with the investor.

It looks like creating a new class of investor and venture capital companies. So, it is going to require people to come up to the plate to start making sure they benefit from this, but the people that will invest are the investors which are either individuals or listed companies.

They will have a generous 100 % tax right-off, but they have got to invest through funds that have still got to be formed. Venture capital funds and venture capital companies are the companies that will invest in the junior miners. There are a lot of conditions.

If there is any criticism it is perhaps because Trevor Manual is now targeting the very-low, bottom-end of the junior mining spectrum, and some people are a little bit disappointed with that, they wanted it more holistic.

It could be a good starting point and it is a very interesting model and it could create this culture that we have been looking for in investing in miners, particularly in the junior mining fraternity, and in exploration.

Modise: 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