Sentula looks to market to raise R105.58m

Diversified miner Sentula has announced its intention to raise R105.58-million through a partially underwritten rights offer of 586.5-million shares. This came amid discussions with its existing... 

New Resgen board reviews Boikarabelo architecture

Following a successful board spill by three major shareholders last month, dual-listed Resource Generation (Resgen) says its new executive management and board, which included a new chairperson,... 

DiamondCorp kicks off diamond production at Lace mine

Southern African diamond mining, development and exploration company DiamondCorp has started production ramp-up from the Upper K4 Block (UK4) of its Lace diamond mine, in the Free State. The first... 

Jubilee inks deal with Hernic Ferrochrome to process tailings

Mine-to-Metals company Jubilee has executed a cooperation agreement with Hernic Ferrochrome on the processing of the platinum-containing surface chrome tailings currently stockpiled and generated... 

Africa’s colonial history has disadvantaged its ability to trade, Davies asserts

Africa’s integration into international markets has been largely dictated by the continent’s history of colonialism, having been drawn into the world economy as producers and exporters of primary... 

Weatherly updates Tschudi copper ore reserves to 24.4Mt

London-listed Weatherly International has announced updated ore reserves of 24.4-million tons at 0.85% copper for 214 000 t of contained copper metal after mining depletion of 8 000 t at its... 

Hummingbird lifts probable reserves at Yanfolila

Aim-listed Hummingbird Resources has announced gross maiden probable reserves of 6.82-million tons @ 3.03 g/t for 665 600 oz of gold at its Yanfolila project, in Mali – an increase of 118 600 oz of... 

Zuma signs new infrastructure crime prevention Act into law

President Jacob Zuma has signed into law the Criminal Matters Amendment Act, which is intended to help to curb infrastructure-related crimes, government’s online news service reported on Tuesday.... 

70% of S Africans concerned about possible social, economic collapse – poll

A mobile survey conducted by information and consultancy group TNS on December 11 – following President Jacob Zuma’s axing of Finance Minister, Nhlanhla Nene – has revealed that 70% of those polled... 

Balwin to acquire Waterfall Kyalami development rights for R1.5bn

Residential property builder Balwin has concluded a nonbinding conditional agreement with Portimix that will see it acquiring development rights for 232.8 ha in Johannesburg’s Kyalami Waterfall... 

Lucara terminates share purchase deal with Paragon

Aim-listed Paragon Diamonds has received a notice of termination for its share purchase agreement with the Lucara Diamond Corporation with regards to the acquisition of the Mothae kimberlite... 

Public hearings on Eskom tariff hike application set for January

Public hearings on energy utility Eskom’s Regulatory Clearing Account (RCA) application for the first year of the third multiyear price determination (MYPD 3) will take place between January 19 and... 

Diamond producers may need to cut prices to boost demand – Moody’s

Diamond producers may have to cut prices further to revive dampened demand, with rough diamond prices likely to remain under pressure over the next 12 to 18 months, Moody’s Investor Services noted... 

Investments, concessions cluster expected to boost Group Five’s interim showing

A weaker-than-expected performance by construction major Group Five’s engineering and construction division has been offset by an improved performance by its investments and concessions cluster,... 

Aquarius shareholders to vote on Sibanye deal in January

Aquarius Platinum will this week distribute to shareholders information related to the proposed acquisition of Aquarius by Sibanye Gold for a cash consideration of $0.195 a share. The transaction,... 

Fitch questions S Africa’s economic policy following Finance Minister debacle

The replacement of a second Finance Minister in South Africa within five days has not enhanced confidence in government effectiveness and leaves questions over the direction of economic policy,... 

Black business calls on Gordhan to rework ‘disabling’ procurement policy

The Black Business Council (BBC) has called on newly reappointed Finance Minister Pravin Gordhan to ensure that the Preferential Procurement Policy Framework Act (PPPFA), which it views as a... 

#ZumaMustFall protest planned for Joburg

In a bid to mobilise popular opinion in favour of ousting President Jacob Zuma, who has come under fire in recent days for a series of controversial Cabinet hirings and firings, the Unite Against... 

Gordhan's statement following reappointment

I return to a portfolio that was assigned to me for five years between 2009 and 2014. I have been associated with the 'finance family' for almost two decades. I am relatively familiar with the... 

AMSA CEO resigns, but to stay on as nonexecutive director

ArcelorMittal South Africa (AMSA) CEO and executive director Paul O’Flaherty has resigned, citing a wish to “pursue other interests”. He would step down after the announcement of the 2015 year-end... 

Muthambi readies for delivery of first digital terrestrial set-top boxes  

As part of the Broadcasting Digital Migration project, Communications Minister Faith Muthambi will, on Thursday, deliver the first batch of government-subsidised set-top boxes (STB’s) to the... 

Fitch downgrades Eskom’s default rating to ‘BBB’

Ratings agency Fitch has downgraded South African utility Eskom’s long-term local currency issuer default rating (IDR) to 'BBB' from 'BBB+', reflecting the recent downgrade of South Africa's... 

PIC snaps up unsold shares in Lonmin to secure 29.99% stake

Delivering the beleaguered platinum miner a market lifeline, the Public Investment Corporation of South Africa has taken up the unsold shares offered under Lonmin’s Friday rights issue, leaving the... 

Zuma lauds S African contribution to COP21 treaty

President Jacob Zuma has congratulated the delegation representing South Africa at the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) in... 

Tshipi to slash manganese exports, labour force amid depressed market

Tshipi é Ntle Manganese Mining will reduce exports over the the next three months by at least 35%, and by 30% in 2016, and has also started with a restructuring process that could see it cutting... 

West African Resources raises $2.1m through share placement

Gold developer West African Resources (WAF) has completed a capital raising of $2.1-million to accelerate the development of high-grade oxide mineralisation at the M1 and M3 prospect, at its... 

Hulamin, Nampak ink new supply deal

Aluminium supplier Hulamin has agreed terms with Nampak for the supply of some 110 000 t of rolled aluminium can end, can body and can tab stock over a three-year period, starting in April next... 

High-grade gold mineralisation confirmed at Sula’s Sierra Leone play

A recent drilling campaign at multicommodity exploration company Sula Iron & Gold’s Sierra Leone-based Ferensola gold project has intersected high-grade gold mineralisation, the company said on... 

R3bn Mozambique power station commissioned

Following the successful completion of acceptance tests for its 120-MW gas-fired power plant on December 10, independent power producer Gigawatt Mozambique reports that it has successfully... 

Basil Read readies for hefty FY earnings jump

Construction major Basil Read expects earnings a share for the year ending December 31 to be at least 100% higher than the loss of 599.87c a share posted in the prior fiscal period. The group... 

Lonmin rights issue undersubscribed

Dual-listed Lonmin’s shares were trading lower on the JSE and LSE on Friday morning, after it announced that its $407-million rights issue had been undersubscribed. The platinum miner had received... 

Supreme Court of Appeal upholds Aurecon’s appeal against City of Cape Town

Global engineering, management and specialist technical services group Aurecon welcomes the judgment of the Supreme Court of Appeal (SCA) of South Africa in the matter between the company and the... 

Training PPP aims to plug key technical skills gap

A public–private partnership (PPP) between electronics manufacturer Samsung Electronics, the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) and... 

As drought bites, call made for new water consumption culture

As South Africa battles water restrictions precipitated by the El Niño phenomenon, aged infrastructure, above-average temperatures, below-average rainfall and climate change, industry stakeholders... 

Makhura casts eye over work of The Innovation Hub

Hoping to draw parallels between the work being done at Africa’s first accredited science and technology park and the vision of the province’s overarching Transformation, Modernisation and... 

R1bn telecoms deal referred back to CompComm

The Competition Tribunal has referred back to the Competition Commission (CompComm) the cases involving the sale of Altech Autopage’s subscriber bases to telecommunications giants MTN, Vodacom and... 

Agri industries, food stability under threat, warns Agbiz

A perfect storm of subdued local economic growth prospects, financially constrained consumers, as well as weather, policy and labour uncertainty is likely to continue to challenge farmers and... 

Hearing test app wins R200 000 Philips innovation prize

Philips South Africa has named the hearScreen mHealth solution as the first winner of its South African Innovation Fellows Competition – an initiative it launched in August in collaboration with... 

Moody’s warns of ‘deep and long’ commodity price downswing

Based on its revised, weaker global growth expectations for 2016, softening demand, the strength of the dollar and continued uncertainty surrounding metal demand in China, Moody’s Investor Service... 

Petra sells 23 ct pink diamond for $10.05m

An “exceptional” 23.16 ct pink diamond uncovered at Petra Diamonds’ Williamson mine, in Tanzania, in November, has been sold into a partnership arrangement for $10.05-million, or $433 938/ct for...