R/€ = 18.42 Change: 0.02
R/$ = 16.27 Change: 0.01
Au 1792.60 $/oz Change: -9.55
Pt 955.49 $/oz Change: -15.63


Kumba fights Faleme battle on two fronts

By: Mariaan Webb     1st November 2006 Diversified-miner Kumba Resources told Business Day that Canadian mining company Lithos Corporation, which was suing the South African group for a breach of contract over an iron-ore project in Senegal, based its $196-million claim on what it believed it could have earned from the Faleme project. 

Mittal confirms fatality and output knock following Vanderbijl mill fire

By: Mariaan Webb     31st October 2006 South Africa's largest steelmaker Mittal Steel South Africa on Tuesday said that it had lost about 100 000 t of liquid steel production at its Vanderbijlpark plant, following a fire seven days ago, which led to the death of one contract worker. Spokesperson Tami Didiza said that a fire, which... 

Kumba rejects $196m Senegal legal claim

31st October 2006 South African iron-ore producer Kumba said that Lithos Corporation had served the company a legal summons, claiming $196-million for breach of contract in Senegal, West Africa. 

Spoornet gears up to meet 47Mt iron-ore target

By: Mariaan Webb     23rd October 2006 Railway utility Spoornet has entered into a R1,12-billion three-year locomotive-acquisition deal with Venus Railway Solutions for the supply of 32 new class 15E electric locomotives for the Sishen-Saldanha iron-ore line, CEO Siyabonga Gama announced on Monday. Venus is a special-purpose vehicle... 

Spoornet cuts iron-ore rail tempo to reduce Saldanha ship loader strain

By: Mariaan Webb     23rd October 2006 State-owned rail utility Spoornet has cut down the rail tempo of iron-ore from Sishen to Saldanha, in the Northern Cape, to 600 000 tons a week and CEO Siyabonga Gama said that it would only move back to 700 000 tons a week early next year. 

New draft incorporates exemptions and builds in 'flexibility' for small-medium firms

By: Terence Creamer     20th October 2006 The South African government is set to confirm broad-ranging exemptions form the broad-based black economic-empowerment (BBBEE) codes of good practice for micro and small businesses, as well as more flexible compliance thresholds for small-medium enterprises. 

Indian group rejects 'corruption cesspit'

By: Keith Campbell     20th October 2006 Reports from Zimbabwe increasingly suggest that the Indian company, Global Infrastructures, part of the Indian multinational group, Global Steel Holdings Ltd (GSHL), abandoned its contract to run the Zimbabwe Iron and Steel Company (Zisco) because of massive corruption at the State-owned... 

Sphere advances African iron-ore project

17th October 2006 ASX-listed Sphere Investments says its latest drilling campaign at the Guelb el Aouj east deposit, in Mauritania, has upgraded the mineral resource for to 701-million tonnes, from 450-million tons announced a year ago. 

Kumba disappointed by two-tier royalty on iron-ore

By: Mariaan Webb     13th October 2006 Africa's largest iron-ore producer Kumba Resources says it is “naturally disappointed” with the revised draft of the Mineral and Petroleum Resources Royalty Bill, arguing that an increase on royalties on unrefined iron from 2% to 4% would “significantly” affect the... 

DTI concerned about impact of higher steel prices, lower rebates

By: Terence Creamer     12th October 2006 The Department of Trade and Industry (DTI) says it is concerned about a possible double negative effect on those domestic steel users that manufacture steel products for export given news that South Africa's largest steel producer has not only raised prices three times in the past five months but... 

Mining industry pleased with cuts on royalty rates, but still has concerns

By: Mariaan Webb     12th October 2006 The revised draft of the Royalty Bill, released by Finance Minister Trevor Manuel on Wednesday, was welcomed by South Africa's mining industry, but the Chamber of Mines chief economist Roger Baxter said that the were still some areas of concern. In an interview on Thursday, he said that... 

Refractories giant set to move ahead with R65m SA smelting project

By: Terence Creamer     10th October 2006 The world's largest refractory-materials manufacturer, RHI Group of Austria, has approved an initial R65-million project for the construction of a new fusion plant at Isithebe, Kwazulu-Natal. In an announcement made on Tuesday, the company said it would establish a smelting plant, comprising two... 

Reworked BEE codes to incorporate small-firm exemptions and build in 'flexibility' for small-medium firms

By: Terence Creamer     9th October 2006 The South African government is set to confirm broad-ranging exemptions form the broad-based black economic-empowerment (BBBEE) codes of good practice for micro and small businesses, as well as more flexible compliance thresholds for small-medium enterprises. 

As steel sales reach 1981 levels, supply concerns grow

By: Terence Creamer     6th October 2006 Domestic carbon steel sales rose 23,9% to 2 581-million tons during the first six months of 2006, the highest first-half sales since 1981, the South African Iron and Steel Institute (Saisi) reports. 

Mittal SA buys two steel mills in Mozambique

6th October 2006 Africa's largest steel manufacturer Mittal Steel South Africa acquired two steel mills in Mozambique, for $11,45-million, it announced on Friday, when it also said that it planned produce 104 000 t/y, within two years, from the plants. 

Mittal-project Chinese contractors keen on more SA work

By: Matthew Hill     5th October 2006 Chinese companies Acre Coking and Refractory Engineering and Citic Project Managers were negotiating various other capital projects in South Africa, following their construction and commissioning of the new R470-million coke-oven battery in Kwazulu-Natal for steel producer Mittal Steel South... 

Mpahlwa concerned about steel-price hike, says engaging with Mittal

By: Mariaan Webb     4th October 2006 South Africa’s Trade and Industry Minister Mandisi Mpahlwa on Wednesday said that government was concerned about the trend of high input costs and made specific reference to the steel and chemicals sectors. 

New SA steel chief prioritises security of supply as SA demand surges to record levels

By: Terence Creamer     29th September 2006 The decision by the world’s largest steel producer to appoint a South African to the top job at Mittal Steel South Africa should be viewed as a vote of confidence, newly appointed CEO Rick Reato argues. 

SA steel users face third 2006 price increase in November

By: Terence Creamer     29th September 2006 Africa's largest steel producer Mittal Steel South Africa will raise flat- and long-steel prices by a weighted average of 5% from November 1, its third price increase for the year. In a note to customers, a copy of which Engineering News has seen, Mittal says the adjustment is in line with price... 

SA steel sales reach 1981 heyday levels

By: Terence Creamer     22nd September 2006 Domestic carbon steel sales rose 23,9% to 2 581-million tons during the first six months of 2006, the highest first-half sales since 1981, the South African Iron and Steel Institute (Saisi) reported at the weekend. Many observers believe South African steel demand could rise to a record... 

Mittal battling to keep pace with demand, fend off capital creep

By: Terence Creamer     18th September 2006 Africa's leading steel producer, Mittal Steel South Africa, admits to being seriously challenged by faster-than-anticipated domestic demand growth, which is likely to see consumption reaching record levels of 5,5-million tons this year. The company, which traditionally sold about half of its... 

Metals sector welcomes new strategy, but concerned that import-substitution opportunities are going begging

By: Terence Creamer     8th September 2006 A metals-industry working group, which met last week to discuss a newly-released Department of Trade and Industry draft metals-sector development strategy, welcomed the initiative, but called for particular emphasis to be given to local-content in South Africa’s R372-billion... 

Mittal SA extends wage deal with unions

4th September 2006 Africa's largest steel group Mittal Steel South Africa and its three major unions, the National Union of Metal Workers of South Africa, Solidarity and the United Association of South Africa, reached an agreement to extend the long-term wage agreement by a further year to June 2008. 

Russian steelmaker still assessing Highveld's strategic fit

By: Terence Creamer     1st September 2006 Russian mining and steel group Evraz is engaged in a thoroughgoing analysis of South Africa’s Highveld Steel & Vanadium in a bid to assess whether it meets its criteria for a so-called “value” investment. 

Tata promises yet more projects as R670m ferrochrome investment gets going

By: Helene Le Roux     1st September 2006 Indian diversified industrial giant Tata is keen to expand its operations in South Africa. 

Macsteel announces sale of 25,5% of SA unit to empowerment consortium

By: Terence Creamer     30th August 2006 Africa's largest steel merchant, Macsteel Service Centres South Africa (MSCSA) announced its much-anticipated black economic-empowerment (BEE) transaction on Wednesday, involving a consortium comprising staff and a series of well-known empowerment companies, led by Kagiso and Cyril Ramaphosa's... 

Reato appointed to replace Chugh at Mittal SA

By: Terence Creamer     30th August 2006 Africa's largest steel group, Mittal Steel South Africa, has appointed Enrico “Rick” Reato as its new CEO to take over from Davinder Chugh, who it leaving to play a role in the bigger Arcelor Mittal group, the world's largest steel company. 

New metals strategy unveiled, stakeholders meet on 45 000-job action plan

By: Terence Creamer     28th August 2006 A working group of metals-industry participants would meet on Tuesday (August 29) to refine an action agenda aligned to a newly-released metals-sector development strategy, which would seek to create 45 000 new and sustainable jobs in the industry over the next five years. It was estimated that... 

Structural steel JV offers full turnkey solution

18th August 2006 South African companies Cosira Group and Tubular Holdings have established a joint venture, Cosira Tubular, which now offers a cost-effective solution to large infrastructure projects, providing significant fabrication and plant resource capacity for site construction. “The companies have a... 

Still going strong

18th August 2006 The Andrew Mentis guardrail, known as Mentrail, has been used by the mining and road-construction industries since the com-pany started manufacturing it some 15 years ago, the firm reports. 

Inverter ensures ease of operation

18th August 2006 Local manufacturer Bearing Man’s electric and gear motors, Power Drives, has installed Nord drive equipment for de-centralised control at a new steel coil banding and packing line in Mpumalanga. 

Portable punch offers weighty solution

18th August 2006 A local subsidiary of the Becker Group of companies, Bellambie’s range of Simplex hydraulic and mechanically powered tools and equipment includes a 35 ton portable punch, designed for easy operation, portability and efficient punching of steel. 

‘Development will continue well after 2010’

18th August 2006 Pretoria-based A Leita Steel Construction is optimistic about the next few years in the steel industry and disregards the general perception that 2010 is the deadline for all major projects. 

Mittal Steel South Africa mulls Sub-Saharan Africa acquisition prospects

By: Terence Creamer     18th August 2006 Africa’s largest steel producer, Mittal Steel South Africa, defended its decision to retain its dividend-distribution policy despite its cash pile rising to R6-billion, by stressing that its already-confirmed R9-billion capital-expenditure programme to 2010 excluded possible expenditure... 

SA domestic steel sales showing real strength

By: Helene Le Roux     18th August 2006 South Africa is on the way to setting new records for carbon-steel sales. 

Abramovich completes purchase of 41,3% of Evraz

By: Bloomberg     10th August 2006 Roman Abramovich, Russia's richest man, bought 41,3% of Evraz Group SA, the country's biggest steelmaker, as mergers accelerate in the world's fourth-biggest supplier of the metal amid rising prices. 

R1,1bn Coega stainless offset gets enviro green light

10th August 2006 A proposed R1,1-billion stainless-steel precision strip mill for the Coega Industrial Development Zone has received environmental authorisation from the Eastern Cape's Department of Economic Affairs, Environment and Tourism, the Coega Development Corporation (CDC) reports in a statement. 

SA steel prices won't rise again in September, but outlook uncertain

By: Terence Creamer     2nd August 2006 South African steel prices would not rise again in September, after successive increases in July and August, despite a positive steel-price outlook elsewhere in the world and extremely strong domestic demand, Mittal Steel South Africa CEO Davinder Chugh told Engineering News on Wednesday.... 

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