R/€ = 16.41 Change: -0.02
R/$ = 14.18 Change: -0.02
Au 1225.15 $/oz Change: -4.40
Pt 841.50 $/oz Change: -2.64

Kim Cloete

Numsa head calls for nationalisation of mines

11th February 2014 The National Union of Metalworkers (Numsa), which is in the midst of a battle against the union federation it ostensibly falls under, the Congress of South African Trade Unions (Cosatu), has called for the nationalisation of mines and the financial sector in South Africa. Numsa general secretary... 

R370m shot in arm for vaccine research

7th February 2014 South African researchers committed to developing vaccines and new medicines and biotechnologies to tackle malaria, TB and HIV/Aids have received a boost with a R370-million partnership with the Bill and Melinda Gates Foundation (BMGF). The BMGF says it is funding innovative, African-led research... 

Tormin mineral sands project kicks off, to inject R1bn a year

6th February 2014 Tormin, the West Coast-based mineral sands project of Mineral Commodities (MRC), is up and running, with the first product already shipped to China. Speaking to an investor gathering at the Investing for African Mining Indaba in Cape Town on Wednesday, CEO Andrew Lashbrooke said the Tormin... 

SA gold industry faces tough year

6th February 2014 The South African gold mining industry faces uncertainty this year, as a combination of risks of further strikes and regulatory challenges loom, according to the just-released JP Morgan report on the gold industry. “The risks of further industrial unrest and regulatory challenges in South Africa... 

Mathunjwa confirms platinum strikers holding firm to wage demands

5th February 2014 The Association of Mineworkers and Construction Union (AMCU) is holding firm to its R12 500-a-month wage demand for workers in the platinum sector, AMCU President Joseph Mathunjwa said on Wednesday. He told the Cape Town Press Club the union would keep pushing its demands to double the current... 

Nigeria sets sights on re-emerging as key mining destination

5th February 2014 Nigeria is hoping to become a much bigger player in African mining, following years of neglecting the industry in favour of oil. A Nigerian government delegation said it had introduced a range of incentives to investors and was keen to re-emerge as a key mining destination on the continent. 

Crunch time for gold mining industry

5th February 2014 Industry leaders have said the tumble in the gold price, as well as concerns about the regulatory environment and tax regimes in gold-producing countries in Africa, have cranked up the pressure over the past year. “After ten years of a bull market, the gold price dropped 17% last year, leaving... 

Lonmin takes stock, highlights focus on improving living conditions

4th February 2014 About 80% of the global reserves of platinum are in South Africa, but the market share has dwindled to 53% currently, owing to a fall in mining production, subdued platinum prices and social and economic unrest. A battery of challenges has hit the industry, including labour unrest, the rise in... 

Platinum strikes costing SA R400-million a day

4th February 2014 The strikes in South Africa’s platinum sector are costing South Africa R400-million a day, taking into account the multiplier effect on the economy, says Chamber of Mines (CoM) COO Roger Baxter. “The strikes are costing the industry about R197-million a day. That is just the direct revenue costs... 

'Return to gold invevitable'

4th February 2014 An expert in gold has forecast that the true worth of gold will be recognised far more if the money bubble pops in 2014. “The writing is on the wall for the dollar and other currencies. The monetary system is breaking down and central banks are serving their own interests. The return to gold is... 

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