Telkom considering impairment of legacy assets

Analysts have viewed Telkom’s announcement that its board of directors is considering impairing the carrying value of its legacy network as a positive move. Telkom group CEO Sipho Maseko on Wednesday morning told shareholders in a statement that...

Centamin to pursue further opportunities in Ethiopia

Egypt-focused gold miner Centamin, which is facing ownership challenges at its flagship Sukari mine, could diversify geographically and was considering further opportunities in Ethiopia. Aim-listed exploration and development company Alecto...

DoE to review electricity roadmap once bigger energy plan finalised

The Department of Energy (DoE) will work towards finalising an Integrated Energy Plan (IEP) for South Africa during the current financial year, Energy Minister Dipuo Peters said on Tuesday. Speaking at a media briefing prior to her Budget Vote...

Tough trading conditions mute Cashbuild’s revenue growth

Building materials retailer Cashbuild reported marginal year-on-year revenue growth of 1% during the third quarter of its 2013 financial, as tough trading conditions continued. Nine new stores opened by the company since July 2011, contributed 2%...

Goldplat to start development on third recovery operation by year-end

With its two existing gold recovery operations in Africa performing “solidly”, Aim-listed Goldplat was planning to start development on a third such operation by the end of this year. In a statement to shareholders, CEO Russell Lamming said...

Botswana Diamonds granted exclusivity period extension

Aim-listed Botswana Diamonds has been granted an extension to an agreement, signed in February, providing it with a three-month exclusivity period to review data on 13 licence blocks in the Gope region, in the southwest of the Orapa region of...

Gem Diamonds Q1 output down 38% on lower grades

LSE-listed Gem Diamonds’ output for the first quarter of 2013 fell by 38% to 18 775 ct, compared with the 30 181 ct in the fourth quarter of 2012, mainly owing to the lower quality diamonds mined at the Letšeng mine during the quarter. The...

Harmony to report lower output for March quarter

Multi-listed Harmony Gold on Monday warned that its gold output for the quarter ended March 31, 2013, would be about 15% lower than the 291 734 oz produced in the quarter ended December 2012. The temporary closure of Harmony’s Kusasalethu mine...

Range River offer ‘inadequate, opportunistic’ – Firestone

Dual-listed Firestone Energy again on Monday advised its shareholders to reject the hostile takeover offer by ASX-listed Range River Gold. In a statement to shareholders, Firestone CEO David Knox said the offer “remains inadequate, highly...

Centamin sets 320 000 oz output target for Sukari

Egypt-focused gold miner Centamin expects to produce 320 000 oz of gold, at a cash operating cost of $700/oz, at its Sukari mine this year. This would represent a 22% increase on the 262 958 oz produced in 2012, which had been above guidance of...