R/€ = 13.28
R/$ = 12.14
Au 1188.45 $/oz
Pt 1116.50 $/oz
Nov 24, 2006
© Reuse this Every Friday morning, SAfm's AMLive's radio anchor John Perlman speaks to Martin Creamer, publishing editor of Engineering News and Mining Weekly. Reported here is this Friday's At the Coalface transcript:
Perlman: South Africa's first black-controlled gold-mining company will be listing on the Johannesburg Stock Exchange (JSE) in December. Tell us more about that.
Creamer: Pamodzi Gold, part of the Pamodzi group, which is already in food, technology and financial services, is now also significant in resources. It will be the first black-owned gold company - black-empowerment no longer good enough and black-controlled and black-ownership the in thing. It is not just a nice to have, as Pamodzi explained, it is an integral part of strategy, because, by being black-controlled and black-owned, Pamodzi can confer empowerment on others, and there are a lot of other stranded assets around, companies needing further empowerment, which means it is a growth vehicle. It will go on to the main board of the stock exchange in the gold sector and will be listed on December 11 and it will be debt free as it goes on. It is already producing 200 000 oz and in the 12 months hence, Pamodzi believes it will be doubling that to 400 000 oz a year. The big opportunity around that this black-owned company can then confer empowerment on others and then gain new assets, both from stranded assets and also from the majors, who have non-core assets, and, if they sell them to a black-owned company, the majors can score points in terms of the Mining Charter.
Perlman: Martin, we haven't talked about the arms industry for a while, but I believe you've got some news.
Creamer: There has been a breakthrough in anti-missile technology. As we know, a foot soldier with a portable rocket launcher can bring down an aircraft with heat-seeking missiles that they launch from surface. This has been counteracted for some time now by aircraft that fire back flares and this way misdirect oncoming missiles that are being shot at them from the ground. This has been successful for some time, but, the new launchers now also have an infrared capability, which means that they don't only seek the heat, but they also seek the shape of the aircraft. So now both heat and shape have to be counteracted and this is what the South African researchers have now successfully been able to do with the use of lasers and jamming software, which is quite complex. The system first detects and tracks the incoming missile, locks a laser on to it, and then fires a laser pulse, with jamming codes dazzling the missile, which is called 'software kill'. This steers the missile away from the aircraft, as a successful demonstration has shown using a South African Air Force Oryx helicoper. This has resulted in South Africa being invited to take part in further exercises with the North Atlantic Treaty Organisation.
Perlman: Not such good news to finish off with.
Creamer: Yes, no-one will be held liable for the Injaka bridge collapse. We can throw our minds back to July 6, 1998: the 300 m Injaka bridge in Mpumalanga was in the process of construction and, in mid-construction, it collapsed. It killed 14 people, it injured 19 others and now, eight years and four months later, the office of the senior public prosecutor in Tshwane has decided that no-one will be held liable for the collapse of the Injaka bridge, on the grounds that its collapse “was not brought about by any act or omission involving or amounting to an offence on the part of any person”. This follows the Department of Labour recommending in 2002 that both the companies and individuals be prosecuted. This is not going to happen now so it could be the end of the road for the Injaka bridge case, although the Engineering Council of South Africa (Ecsa), which is responsible for upholding engineering standards, may still continue with its own case, but that would involve individuals alone and not companies.
Perlman: 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: Yolande Botes© Reuse this Comment Guidelines (150 word limit)
Creamer Media Assistant Chief Operating Officer and Personal Assistant to the Publishing Editor
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
Updated 1 hour 39 minutes ago While strongly welcoming the promulgation of the new Part 101 of South Africa’s civil aviation regulations, governing the commercial operation of civil remotely piloted aircraft (RPAs) in South Africa, the Commercial Unmanned Aircraft Association of Southern Africa...
Updated 1 hour 39 minutes ago LSM Distributors has contracted engineering consultancy WSP | Parsons Brinckerhoff Africa to undertake the R100-million restoration of the 54-year-old Kyalami racetrack, situated in Midrand. The restoration will assist in re-establishing it as a venue for...
Updated 1 hour 39 minutes ago South African Defence Minister Nosiviwe Mapisa-Nqakula has expressed the hope that the defence budget will be significantly increased over the next five years. She did so while addressing the media in her recent budget vote media briefing. The 2015/2016 defence...
Updated 1 hour 39 minutes ago The African Development Bank (AfDB) has been an implementing agency for the Global Environment Facility (GEF) since 2008. The relatively young portfolio has 28 projects over 30 countries on the continent according to the 2014 AfDB and GEF annual report released...
Updated 1 hour 39 minutes ago Investment in South African youth through apprenticeships and learnerships will not only create direct benefits for businesses but will also contribute significantly to job creation and socioeconomic transformation in the country.