Real Economy Report
From Creamer Media in Johannesburg, this is the Real Economy Report. JSE-listed Wesizwe Platinum continues to advance the development of its flagship Bakubung mine, in the North West province, with the headgear construction some three-quarters complete and the primary shaft at a depth of 120 m at the end of the presink stage. Natalie Greve visited the site to find out more.
Natalie Greve:
The Bakubung platinum mine is expected to have a life span of some 35 years and will produce 350 000 oz/y of platinum-group metals (PGMs), which will be accessed by a twin independent vertical shaft system, comprising a main shaft for miners and materials, envisaged to reach 1 000 m below ground, and an additional ventilation shaft.
Bakubung project executive Jacob Mothomogolo told Mining Weekly that the headgear construction would be completed by the end of May, after which the main shaft would enter the slow-sink phase.
Bakubung project executive Jacob Mothomogolo
Natalie Greve:
Once completed, the Bakubung complex will include a processing plant located adjacent to the mine shafts, to treat and produce a concentrate, as well as four underground crushers.
Jacob Mothomogolo
Shannon de Ryhove:
Other news making headlines this week: South Africa’s carbon tax policy proposal aligns with international trends, but gaps remain; Government’s Gautrain bill shrinks to R70-million a month as ridership jumps; and York Timbers moves ahead with its plan to integrate its Sabie site.
As South Africa moves to become a carbon-taxed economy by 2015, gaps are emerging in the proposed policy as to how the country will account for its emissions and who will be responsible, says carbon advisory firm Promethium Carbon.
Promethium Carbon director Robbie Louw
The patronage guarantee that government pays to Bombela, the operator of the Gautrain system, has dropped from between R80-million and R85-million a month last year, to between R70-million and R75-million a month this year.
Gauteng MEC for Roads and Transport Ismail Vadi
Forestry and forest products group York Timbers is hoping to break ground early next year on its R1.5-billion site integration project at its Sabie facilities, in Mpumalanga, once it receives a record of decision from the Department of Environmental Affairs on its environmental-impact assessment submission.
York Timbers CEO Pieter van Zyl
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.