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CoAL continues to progress Makhado development

By: Megan van Wyngaardt     30th September 2016 Coal of Africa Limited (CoAL) on Friday reported that an optimisation study and the front-end engineering and design have been completed for its Makhado project. 

Gemfields auction nets $11.1m

By: Creamer Media Reporter      30th September 2016 Aim-listed Gemfields’ latest auction of emerald and amethyst has netted revenue of $11.1-million. The auction, held in Jaipur, India, from September 26 to 29, included commercial-quality rough emerald extracted at Gemfields’ 75%-owned Kagem mine, in Zambia, and higher-quality amethyst mined by... 

Eskom’s role and outstanding generation plan key to nuclear RFP delay

By: Terence Creamer     30th September 2016 The issue of Eskom’s role in the procurement process for South Africa’s nuclear new build programme is said to lie at the heart of Cabinet’s surprise decision to delay the release of the controversial nuclear request for proposals (RFP), which was due for dissemination on September 30. However,... 

Wesizwe concludes early termination of Bakubung contract with Aveng

By: Natasha Odendaal     30th September 2016 Emerging miner Wesizwe Platinum concluded an amicable agreement with appointed shaft sinking contractor Aveng Mining for an early termination at its Bakubung platinum mine, in Rustenburg. The agreed handover will be concluded by May 2017, when Phase 1 main shaft commissioning, which was initially... 

Exxaro concludes Mayoko disposal

By: Natasha Odendaal     30th September 2016 Diversified resources group Exxaro Resources has concluded the exit of its Congo-based iron-ore assets. The transfer of ownership of the Mayoko iron-ore project to Congolese company Sapro SA was concluded last week. The JSE-listed South African group, which acquired the project in 2012, put the... 

Govt calls for elimination of mining deaths, halt to spread of occupational diseases

By: Ilan Solomons     30th September 2016 The mining sector must strive to achieve zero harm by doing everything possible to prevent fatalities, injuries and the spread of diseases among workers at South African mines. This is the plea of Department of Mineral Resources (DMR) acting mines chief inspector Xolile Mbonambi, who spoke at the... 

Movement, at last, to extend WiFi into unconnected communities

By: Natasha Odendaal     30th September 2016 WiFi is starting to shift into the limelight as the disruptive technology that is increasingly a critical element of the ‘always-on’, connected society; however, townships and citizens in the living standards measure (LSM) five and below category are, for the most part, being sidelined. New... 

Challenges facing South Africa’s labour market

     30th September 2016 The challenges facing South Africa's labour market in 2016 have been evident in a number of recent judgments and in ongoing processes of engagement between social partners.  The introduction of a national minimum wage remains high on the policy agenda, but its relationship with job losses and job... 

Darryl Campbell

     30th September 2016 This week we feature Darryl Campbell, MD of The Fastener Factory, an importer of Heico-Lock wedge lock washers and distributor of SKF power transmission, seals and mechatronics products, as well as distributor and seller of leading brands of fasteners, tools, abrasives, bearings and engineering... 

Ethical conduct relies on values and capability

By: Terence Creamer     30th September 2016 The fact that the main lecture hall at the Gordon Institute of Business Science (Gibs), in Johannesburg, was bursting at the seams last week for a discussion on ethics and its importance in driving trust in society and business is a strong reflection of the ‘signs of our times’. While attendance... 

Joburg ICT lab seen as catalyst for African tech revolution

By: Schalk Burger     30th September 2016 The information technology (IT) company IBM’s second research laboratory in Africa in Braamfontein, Johannesburg, is a “seed for change and a catalyst for the technology revolution” taking place, says IBM Research - Africa director Dr Solomon Assefa. The laboratory is located at the University of... 

Movement, at last, to extend WiFi into unconnected communities

By: Natasha Odendaal     30th September 2016 Wi-Fi is starting to shift into the limelight as the disruptive technology that is increasingly a critical element of the ‘always-on’, connected society; however, townships and citizens in the living standards measure (LSM) five and below category are being, for the most part, sidelined. New... 

VescoPlastics

     30th September 2016 South Africa-based self-lubricated polymer bearings and bushes manufacturer VescoPlastics produces its proprietary brand of Vesconite bushings and wear plates that operate in dusty, dirty or wet conditions and still last longer than other products on the market. These products do not require... 

Wescoal lifts black ownership to 59% in ‘transformational milestone’

By: Anine Kilian     29th September 2016 JSE-listed Wescoal has entered into a subscription agreement that will raise its black ownership to about 59%. The company’s long-term coal supply agreement with State-owned Eskom requires it to increase its black economic empowerment (BEE) ownership to more than 51% by end December 2016. 

Lily mine inspection aborted, conditions deemed unsafe

By: Creamer Media Reporter      29th September 2016 Attempts to inspect the localised geological conditions underground at the troubled Lily gold mine, in Barberton, have been aborted. A Mine Rescue Service (MRS) risk assessment this week revealed deterioration along the 600 mm rescue shaft and the original ventilation shaft, rendering it unsafe... 

SAA offers more flights to Mauritius

By: Megan van Wyngaardt     29th September 2016 Embattled South African Airways (SAA) has added capacity on its Mauritius route, with the introduction of the bigger Airbus A330-200. From October 1, the airline will use the new aeroplane, which adds extra capacity of 200 seats a week, operating flights SA190/SA191 on Mondays, Wednesdays and... 

Talisman Hire Kya Sand wins an Atlas Copco RTEX breaker!

     29th September 2016 On 14 September 2016 Atlas Copco Construction Technique handed over a RTEX handheld pneumatic breaker to Dries Fouché and Shaun Sirchia, franchise owners of Talisman Hire in Kya Sand, Johannesburg, which they won in a lucky draw during the Talisman Suppliers Day held in August 2016. The... 

Unique MOR diamond deposits offer ‘considerable potential’ 

By: Anine Kilian     29th September 2016 The Middle Orange River (MOR) alluvial diamond deposits between Hopetown, Douglas and Prieska, along with deposits along the Riet river and the Vaal river, in the Northern Cape, represent three unique sinks or repositories of high-quality gem diamonds, says geologist Lyndon de Meillon. Speaking... 

Cash-strapped S African miners look internally to ride out lower-for-longer downcycle

By: Natasha Odendaal     29th September 2016 South African mining companies are increasingly shifting their focus from maximising volumes to ensuring more profitable production to remain sustainable as margins continue to shrink. PwC's latest ‘SA Mine’ report, released on Thursday, shows that mining companies have experienced flat revenues... 

S Africa's political uncertainty, reform of State firms a concern – S&P

By: Reuters     29th September 2016 The slow reform of South Africa's state-owned firms and the upheaval swirling around the Finance Minister pose risks to the country's investment grade credit rating, an executive from Standard & Poor's said on Thursday. "We have said before that we take comfort from the targets set by the... 

25th school bridge building competition demonstrates value of hands-on engineering training 

     29th September 2016 From Creamer Media in Johannesburg, this is the Real Economy Report. Sashnee Moodley: The South African Institute of Civil Engineering has held its 25th yearly school bridge building competition, which sees pupils from across Southern Africa competing and aims to get children to apply engineering... 

Not all diamonds enjoy recovery as budget stones get left behind

By: Bloomberg     29th September 2016 The recovery in diamond prices is leaving out the smallest and lowest-quality gems. For the smallest diamonds, prices are down 15% this year, data compiled by Bloomberg show. That compares with an average 7% increase for all stones yet to be cut and polished. The overall market is recovering... 

Wescoal enters R211m deal to lift black ownership to 59%

     29th September 2016 JSE-listed Wescoal has entered into a subscription agreement that will raise its black ownership to about 59%. A black economic empowerment (BEE) special purpose vehicle (SPV), whose shareholders comprise a consortium of existing Wescoal shareholders – Muthanyi Robinson Ramaite, Simeka Capital... 

Lynas warns on debt in low-price environment

By: Mariaan Webb     29th September 2016 The high level of debt on Lynas’s balance sheet continues to be a challenge in the low-price environment, the loss-making rare earths miner said on Thursday. The company raised caution about its ability to meet its financial obligations and stated that it would require either amendments to the... 

TradeCore Holdings is a privately owned integrated trading house based in Johannesburg...

     29th September 2016 TradeCore Holdings is a privately owned integrated trading house based in Johannesburg, but with a footprint that extends throughout Africa. TradeCore Holdings links buyers with the right suppliers, leveraging economies of scale, cross-border logistics expertise and a large network of storage and... 

Edenville raises £500 000

By: Natasha Odendaal     29th September 2016 Aim-listed Edenville Energy has raised £500 000 through an oversubscribed placing to new and existing shareholders to advance commercial mining operations at its Rukwa coal-to-power project, in south-west Tanzania. The raising will also be used to continue the project’s technical and regulatory... 

StratMin secures $1.5m loan

By: Anine Kilian     28th September 2016 Aim- and ASX-listed StratMin Global Resources has arranged a $1.5-million nonrecourse loan facility secured against the company's holding of 75-million ordinary shares of Bass Metals. Working with a corporate investor that is an existing stakeholder in ASX-listed Bass, StratMin has agreed to... 

Armadale, AMS to form JV to develop DRC project

By: Anine Kilian     28th September 2016 Aim-listed Armadale has entered into a binding heads of agreement (HoA) with African Mining Services (AMS) to form a joint venture (JV) to develop and operate the Mpokoto gold project in the Democratic Republic of Congo’s (DRC's) Katanga province. Mpokoto has an established resource of 678 000 oz... 

PPPFA to be repealed

By: Anine Kilian     28th September 2016 The Preferential Procurement Policy Framework Act (PPPFA) will be repealed in favour of a Public Procurement Act owing to various shortcomings in the existing Act, President Jacob Zuma has said. Speaking at the Black Business Council Awards in Johannesburg, this week, he said that in the past... 

Wescoal secures long-term coal export business

By: Martin Creamer     28th September 2016 Coal mining and marketing company Wescoal has finalised a series of coal contracts in line with its stated intention of supplying a million tonnes of coal a year into the export market. The coal purchase confirmations, which involve the supply of more than five-million tonnes of coal from... 

Firestone Diamonds one step away from completing Lesotho diamond mine

By: Megan van Wyngaardt     28th September 2016 Aim-listed Firestone Diamonds has “one more item” left before its one-million-carat-a-year Liqhobong project, in Lesotho, enters production in the fourth quarter. During a media briefing, in Johannesburg, on Wednesday, CEO Stuart Brown said the company had around 90 000 t of ore stockpiled and... 

Project house DRA appoints new CEO

By: Martin Creamer     28th September 2016 Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

SABMiller shareholders comfortably back AB InBev takeover offer

By: Reuters     28th September 2016 SABMiller shareholders backed the brewer's $100-billion-plus takeover by rival Anheuser-Busch InBev by a large majority on Wednesday, paving the way for one of the biggest corporate mergers in history. The £79-billion deal was comfortably passed by the SAB shareholders who voted. It had required... 

Regional integration key to bolster local diamond industry, beneficiation 

By: Megan van Wyngaardt     28th September 2016 The importance of regional integration within the Southern African Development Community as a means to advance the region’s diamonds industry was a recurring topic at the South African Diamond Indaba, held in Midrand earlier this week, with industry stalwarts, such as De Beers Consolidated Mines... 

White Rock unveils ‘game-changer’ equity raising to advance NSW, Alaska projects

By: Mariaan Webb     28th September 2016 Minerals explorer White Rock is seeking to raise $5.74-million through the placement of shares and an entitlement offer to fund studies and exploration at projects in New South Wales and in Alaska. The company will raise $1.62-million in a placement of ordinary shares to investors and up to... 

Lucapa and partners sell Lulo diamonds for $4.1m

By: Creamer Media Reporter      28th September 2016 Australia-based Lucapa Diamond Company and its partners in the Lulo mine have netted $4.1-million from the sale of diamonds recovered at the Angolan mine. The parcel of 2 209 ct of Lulo diamonds sold at an average sales price of $1 868/ct, 40%-owner Lucapa said in a statement on Wednesday. 

Property sector contributes significantly to South Africa’s economy

By: Anine Kilian     27th September 2016 Recent figures show the South African property sector contributes as much as R191-billion to the country’s gross domestic product (GDP) and R46-billion to the fiscus, Property Sector Charter Council CEO Portia Tau-Sekati said on Tuesday. Addressing an audience at the sixteenth Rode-REIM Property... 

Greater investment needed in inner city development

By: Anine Kilian     27th September 2016 Inner cities are important nodes for local economic development and investing in them is necessary for future growth, inner city property financier TUHF CEO Paul Jackson said at the Rode-REIM Property Conference in Johannesburg on Tuesday. He noted that urban living was often associated with... 

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