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Gemfields confirms $60m full-year loss 

By: Simone Liedtke     25th March 2019 JSE-listed Gemfields on Monday confirmed that it had posted a $60.4-million net loss for the year ended December 31, 2018, compared with a $45.1-million profit in 2017. As set out in a trading statement published on Friday, the group attributed the loss to impairment charges and fair value loss... 

Gemfields mulls London listing, looks back on challenging 2018 

By: Simone Liedtke     25th March 2019 JSE-listed Gemfields is considering an additional listing on the LSE during this year, without an associated capital raise, in an effort to address the lack of broker research and share trading liquidity. Paying a maiden distribution to its shareholders remains a key ambition for the miner for... 

Sheppard appointed Konkola CEO – Business Day

By: Tasneem Bulbulia     22nd March 2019 Business Day on Friday reported that Chris Sheppard had been appointed CEO of Vedanta Resources’ Konkola Copper Mines (KCM) subsidiary, in Zambia. Sheppard was the former head of AngloGold Ashanti’s South African business. 

Jubilee set to acquire Sable Zinc refinery  

By: Nadine James     22nd March 2019 Dual-listed Jubilee Metals on Friday announced that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe, Zambia. The refinery is situated immediately adjacent to the large stockpiles of zinc, lead and vanadium that Jubilee has contracted from BMR Group. 

Impairments, fair value losses to push Gemfields to a loss for 2018

By: Tasneem Bulbulia     22nd March 2019 Gemfields expects to report a net loss of $60.4-million for the year ended December 31, 2018, compared with the net profit of $45.1-million reported for 2017. In rand terms, the net loss is expected to be R801-million, compared with a R600-million net profit the year before. 

Localisation seen as key to stimulating struggling capital equipment sector

By: Natasha Odendaal     22nd March 2019 The growth of the capital equipment sector, and the manufacturing sector in general, is being stifled by South Africa’s heavy reliance on imports, and its inability to deliver on its localisation promises. The manufacturing sector has the potential to significantly accelerate South Africa’s... 

Partnerships to be key in addressing Africa’s power deficit

22nd March 2019 In this opinion article, Wikus Kruger argues that public-private partnerships, access to financing and targeted skills development will be crucial in addressing Africa’s chronic power shortage 

Localisation seen as key to stimulating struggling capital equipment sector

By: Natasha Odendaal     22nd March 2019 The growth of the capital equipment sector, and the manufacturing sector in general, is being stifled by South Africa’s heavy reliance on imports, and its inability to deliver on its localisation promises. The manufacturing sector has the potential to significantly accelerate South Africa’s... 

Two killed in accident at Glencore's Zambian mine

By: Reuters     19th March 2019 Two workers died in an accident at Glencore's Zambian operation Mopani Copper Mines (MCM) on Tuesday, prompting it to suspend production pending investigations, the company said. "All operations at the South Ore Body (shaft) have been suspended until further notice," the company said in a... 

World Water Day on 22 March: “Leaving no one behind”

15th March 2019 Water a key focus at African Utility Week and POWERGEN Africa in Cape Town in May A Cape Town bottling plant has managed to reduce its waste water by over 60%, saving more than 90 million litres of municipal water since January 2017. The Epping-based The Beverage Company produces over 1.5... 

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