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Airliner purchase agreement signed by Tanzanian government

     Updated 3 hours ago The government of Tanzania has signed a firm purchase agreement for two Q400 turboprop airliners, multinational aerospace and transport company Bombardier Commercial Aircraft announced late in July. The aircraft will be delivered with a 76-seat, dual-lavatory configuration and will be used for... 

Francophone Africa seen as untapped market for South African firms

By: Mia Breytenbach     Updated 3 hours ago Despite significant opportunities across a range of sectors, the Francophone African markets remain relatively untapped from South Africa, speakers stated at the ‘Doing Business in Francophone Africa’ business forum. Speaking at the forum in Johannesburg at the end of June, Africa House strategy... 

Law firm launches practice focused on infrastructure

By: Dylan Slater     Updated 3 hours ago International law firm Pinsent Masons announced at the end of July plans to launch an infrastructure-focused practice in Johannesburg, South Africa, with the appointment of two founding partners to launch the office.  

Rising vigilance

By: Terence Creamer     Updated 3 hours ago In all spheres of South African public life, the level of civil-society engagement and vigilance is rising. Increasingly, too, citizens are not merely tackling issues at the level of principle, but are also taking into account the minutiae of procedural fairness, executive responsibility and... 

Still tough, but Group Five says pace of decline is easing

By: Irma Venter     Updated 3 hours ago The momentum of decline in the South African construction environment has finally shown signs of slowing, says construction company Group Five CEO Eric Vemer. Speaking at the company’s annual results presentation in Johannesburg, Vemer said the outlook for the market is by no means “rosy, but at... 

Safety dominates Sibanye results presentation as 125% profit surge takes back seat 

By: Martin Creamer     25th August 2016 Top performing precious-metals mining company Sibanye Gold, dismayed by an uncharacteristic spate of mineworker fatalities, began its presentation of high-cash results for the half-year with a safety moment as a mark of its determination to up its safety performance. The 125% surge in profits in... 

Grindrod records R1.1bn loss, ready to develop Coega liquid-bulk terminal

By: Irma Venter     25th August 2016 A depressed commodities market continued to takes its toll on shipping and logistics group Grindrod in the six months ended June 30. Grindrod on Thursday reported a drop in revenue to R11-billion in its management income statement – which included the company’s share in joint ventures – compared... 

Bayer opens first SeedGrowth Centre in Africa

     25th August 2016 The SeedGrowth Centre has the potential to help farmers in the region to not only secure, but significantly increase their yields in key crops   Bayer South Africa has opened its first multi-million rand SeedGrowth Centre, the first of its kind for the company in Africa, at its Production... 

South32’s local coal expansion projects progressing to feasibility stage

By: Samantha Herbst     25th August 2016 While diversified mining major South32’s South Africa-based thermal coal expansion projects are yet to be approved, CEO Graham Kerr remains optimistic about developments at its South Africa Energy Coal operation, noting that both proposed expansion projects are progressing well into the... 

South32 to pay inaugural dividend despite significant revenue drop

By: Samantha Herbst     25th August 2016 Despite a 25% drop in revenue for the 2016 financial year, diversified mining major South32 announced on Thursday that it would pay an inaugural shareholder dividend of $0.01 a share, reflecting the company’s belief in its operations and the flexibility of its balance sheet. With revenue down... 

Bushveld raises cash for Vametco costs, other projects

By: Creamer Media Reporter      25th August 2016 Diversified mineral development company Bushveld Minerals has raised £580 000 through the issue of 38.67-million shares at 1.5p apiece. The proceeds will be used for general working capital purposes, continuing costs associated with the Vametco transaction, ongoing work in respect of subsidiary... 

Nickel price hurts Western Areas' 2016 results

By: Mariaan Webb     25th August 2016 A significant reduction in the nickel price has dented Perth-based miner Western Areas’ revenue in the 2016 financial year, pushing the company into an after tax loss of A$29.78-million. The 2016 loss compares with a profit of A$35.01-million in the 2015 financial year, Western Areas, which is... 

Barloworld stands the test of 75 years 

     25th August 2016 Industrial brand management company Barloworld celebrated its 75th year on the JSE earlier this month, making it one of only nine companies to have achieved the milestone. Megan van Wyngaardt tells us more. 

Syrah awards construction contract for Mozambique project

By: Creamer Media Reporter      25th August 2016 Engineering and construction company Kentz Engineers and Contractors has won the structural, mechanical and piping construction contract at Australian firm Syrah Resources’ Balama graphite project, in Mozambique. Kentz, which is a member of the SNC-Lavalin Group, has successfully operated in... 

Mineral sands miner Iluka sinks to half-year loss

By: Mariaan Webb     25th August 2016 Mineral sands miner Iluka Resources plunged to a net loss of $20.9-milllion in the first half of 2016, compared with a profit of $20.4-million a year earlier, owing to lower revenue growth. Mineral sands revenue dipped from $349.6-million in the six months ended June 30, 2015, to $338.4-million... 

DoL to host workshop on explosives regulations amendments

By: Anine Kilian     25th August 2016 The Department of Labour (DoL), in partnership with the University of South Africa (Unisa), will, on August 29, host a day-long workshop to sensitise explosives industry stakeholders to explosives regulations amendments. DoL deputy director of explosives Rudzani Ramabulana says the regulations... 

Middle Island sets timetable for restarting WA gold mine

By: Megan van Wyngaardt     25th August 2016 Australian gold miner Middle Island is set to restart operations at the Sandstone project, in Western Australia, by September 2017. The company acquired the 480 000 oz project from Black Oak Minerals in May for A$2.5-million. The project includes a 600 000 t/y carbon-in-pulp processing plant,... 

Newcrest, Harmony JV apply for Wafi-Golpu special mining lease

By: Megan van Wyngaardt     25th August 2016 The Wafi-Golpu joint venture (WGJV) on Thursday submitted an application for a special mining lease (SML) for its gold/copper/silver project in Papua New Guinea. The WGJV is one of three unincorporated JVs between subsidiaries of Australia’s Newcrest (50%) and South Africa’s Harmony Gold (50%),... 

Neighbours Pilbara, Altura formalise cooperation agreement

By: Megan van Wyngaardt     25th August 2016 Australian lithium developer Pilbara Minerals has signed two agreements with ASX-listed Altura Mining, formalising a framework for ongoing cooperation in the development of their adjoining lithium/tantalum deposits. This access agreement will assist Pilbara in its strategy to fast-track the... 

Kibo, Sepco ink new contractual deal on Mbeya

By: Natasha Odendaal     25th August 2016 AltX- and Aim-listed Kibo Mining has signed a new, redefined agreement with China-based contractor Sepco III, which can now earn the right to become the sole bidder for the engineering, procurement and construction (EPC) contract to build the power plant component of Kibo’s Mbeya coal-to-power... 

Investors keen to spend money but Australia should give them reason to invest – QRC

     25th August 2016 The green shoots that are sprouting in the resources sector should signal a green light for governments to weed out the red tape and grow investment opportunities, says Queensland Resources Council CEO Michael Roche. Speaking at the 2016 Mining Convention in Brisbane, on Thursday, he said that... 

Sibanye Gold declares R785m dividend

By: Martin Creamer     25th August 2016 Johannesburg- and New York-listed precious metals mining company Sibanye Gold on Thursday reported strong financial results for the six months ended June 30, driven mainly by a higher rand gold price and underpinned by solid production from both the gold and platinum divisions. Sibanye's... 

Section 52 of MPRDA a ticking time bomb in terms of labour, say lawyers

By: Megan van Wyngaardt     24th August 2016 Section 52 of the Mineral and Petroleum Resources Development Act (MPRDA), which states that the holder of a mining right is required to give notice to the Mineral Resources Minister “in the prescribed manner” in terms of downscaling of operations, is a ticking time bomb. Speaking during a... 

Exxaro’s sale of Inyanda given green light

By: Natasha Odendaal     24th August 2016 The Competition Commission on Wednesday gave an unconditional green light for the buyout of diversified miner Exxaro Coal’s Inyanda colliery business, in Mpumalanga, by joint venture (JV) partners Lurco Group and Burgh Group. The JV, Inyanda Mining Holdings, also titled Main Street, will take... 

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Liquidation order against Platfields set aside

     24th August 2016 The High Court of South Africa has set aside a provisional liquidation order against JSE-listed Platfields. The company on Wednesday said it, however, remained in settlement negotiations with the company that had implemented the liquidation proceedings against it. 

Kenmare sees H1 revenue decrease

By: Anine Kilian     24th August 2016 LSE-listed Kenmare Resources’ half-year revenue fell 24% to $56.2-million for the six months ended June 30. In a statement released on Wednesday, the company attributed its revenue decrease to lower average heavy minerals prices, owing to pricing and subsequent contracts occurring at the bottom... 

Tenderpreneurship the root of South Africa’s economic problems – Madonsela

By: Megan van Wyngaardt     24th August 2016 Tenderpreneurship is one of the biggest contributors to corruption and unemployment in South Africa, as it encourages businesspersons to be corrupt, outgoing Public Protector Advocate Thuli Madonsela said on Wednesday. She outlined to delegates attending the twenty-ninth yearly Labour Law... 

Gold price could appreciate once growth in Asia recovers – investment firm

By: Samantha Herbst     24th August 2016 Asia’s seemingly imminent economic recovery could spark an increase in gold prices, according to investment management firm Allan Gray portfolio manager Sandy McGregor, who connects the gold price decline, which started in 2012, with Asia’s economic woes and its reputation as the world’s biggest... 

Labour reforms needed to bolster employment – Kganyago

By: Megan van Wyngaardt     24th August 2016 Removing unusually high barriers to entry for new business, while lowering costs in network industries such as telecommunications, energy and transport, will counter strong wage, salary and price pressures. This would, in turn, add to growth in employment and the economy, Reserve Bank Governor... 

Gauteng government receives clean bill of health from Auditor General 

By: African News Agency      24th August 2016 All 12 Gauteng provincial departments and public entities have received clean audit status for the 2015/16 financial year, a first for the province in 13 years, provincial Premier David Makhura said on Wednesday. Makhura was speaking during a release of the audit outcomes of the provincial... 

Capital raising helps Sheffield maintain momentum at Thunderbird

By: Creamer Media Reporter      24th August 2016 Mineral sands developer Sheffield Resources has received commitments to raise up to $17.1-million, through a placement of 23.9-million shares at 52c a share, to complete a bankable feasibility study (BFS) at its Thunderbird project, in Western Australia. The funds raised will also be used for... 

Lucara to invest $30m on more XRT diamond recovery units

By: Creamer Media Reporter      24th August 2016 Vancouver-based Lucara Diamond Corp will install four more X-ray transmission (XRT) diamond recovery units at its Karowe mine, in Botswana, to process finer-size fractions. The new units, along with associated conveying and screening infrastructure, will target the recovery of diamonds in the 4... 

Australian silver outlook strong as global supply falls – Investigator Resources

     24th August 2016 The outlook for Australian silver development and production has risen to its best in years with the owner of one of the country’s highest grade discoveries pointing to a 35% price increase in the commodity in just the past 12 months. Addressing a mining forum in Brisbane on Wednesday,... 

Panoramic hikes Savannah North resource

By: Mariaan Webb     24th August 2016 ASX-listed base metals company Panoramic Resources has upgraded the Savannah North resource to 175 100 t of nickel, 74 400 t of copper and 15 300 t of cobalt, representing a 60% increase in the contained nickel on the maiden resource estimate. The combined resource at the Savannah project, in... 

Buxton and Independence Group form Fraser Range JV

By: Mariaan Webb     24th August 2016 ASX-listed junior Buxton Resources has granted fellow listed Independence Group (IGO) the sole and exclusive right to acquire a 90% interest in the Zanthus and Widowmaker tenements, in the Fraser Range, Western Australia, for $1.5-million in cash. Under a joint venture (JV) announced on... 

Edenville appoints new chair

By: Creamer Media Reporter      24th August 2016 Aim-listed Edenville Energy, which is developing the Rukwa coal-to-power project, in Tanzania, has appointed Dr Jeff Malaihollo nonexecutive chairperson, effective September 1. He succeeds former chairperson Sally Schofield who resigned in April, citing personal reasons. 

Moody’s upgrades Fortescue’s credit ratings

     24th August 2016 Perth-based Fortescue Metals’ efforts to reduce its debt have won it an improved credit rating from ratings agency Moody’s, which this week upgraded the iron-ore miner’s corporate family rating to Ba2 from Ba3, while the senior unsecured and senior secured ratings were upgraded to B1 and Ba1 from... 

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