R/€ = 16.95 Change: -0.06
R/$ = 14.39 Change: -0.01
Au 1202.14 $/oz Change: 3.70
Pt 826.00 $/oz Change: -2.41


South Africa a good representation of a competitive mobile money market

By: Kim Kruger     16th March 2012 South Africa is not only a competitive mobile money market, but is a good representation of the different business models that are transpiring from banks, MNOs*, third party operators, social media and online retailers and payment providers. This is according to Sonum Puri, programme director of... 

Great Basin Gold announces new deal to raise C$50m

By: Henry Lazenby     16th March 2012 Dual-listed Great Basin Gold has terminated its bought deal announced last week, and replaced it a new deal, sweetening the offer price to C$0.75 a share. The junior mining company was aiming to raise C$50-million to carry its Burnstone gold mine, in South Africa, through to the third quarter,... 

Reserve Bank changes tone on inflation 

By: Sapa     16th March 2012 Inflation pressures in South Africa are now likely becoming more generalized, reflecting demand-side pressure rather than only external factors, the central bank warned, seeming to signal an eventual monetary tightening. 


By: Site Administrator     16th March 2012 Tender work arising from state contracts  

South Africa

By: Asha Ramsaran     16th March 2012 What’s On provides you with information about conferences, exhibitions, seminars, training courses and other events pertaining to general industry and the mining sector. To include information about an upcoming event, e-mail with key details. 

UK airline investing billions, augmenting SA service

By: Keith Campbell     16th March 2012 Major international airline British Airways (BA), part of the International Airlines Group (IAG) is investing £5-billion over a five-year period in new aircraft, cabin interiors, cabin crew training and various hardware and software systems designed to benefit its passengers. The programme... 

Nyota Minerals upgrades Ethiopian gold resource

By: Henry Lazenby     15th March 2012 Aim-listed Nyota Minerals has reported an updated resource for its Tulu Kapi gold project in Ethiopia, saying that additional drilling had resulted in a 82% upgrade and increase in the indicated resource to 831 000 ounces of gold, at 3.01 g/t and an inferred resource of 841 000 oz at 2.79 g/t.... 

Firestone raises £14.7m for restructuring, Lesotho development

By: Natasha Odendaal     15th March 2012 Aim-listed Firestone Diamonds is raising £14.7-million as part of the restructuring of the company and the further development of its Liqhobong mine, in Lesotho. This followed a strategic review of the diamond mining and exploration company’s operations during January and February to deal with... 

Wits Gold appoints COO

By: Creamer Media Reporter      15th March 2012 JSE-listed Witwatersrand Consolidated Gold Resources (Wits Gold) appointed Bernard Wessels as COO from March 1, 2012, CEO Philip Kotze announced on Thursday. Bernard, a mining engineer, previously held a number of management positions in both the gold and platinum industries. Since May 2009, he... 

Company Announcement: NERSA’s decision on Transnet Limited Petroleum Pipeline Tariffs for 2012/13

15th March 2012 On 15 March 2012 the National Energy Regulator of South Africa amended Transnet Limited’s licence to operate its petroleum pipeline system by setting tariffs, as a condition of that licence, for the period from 04 April 2012 to 02 April 2013. 

Exxaro secures African Iron 99.75% acceptances

By: Henry Lazenby     15th March 2012 JSE-listed diversified miner Exxaro has received acceptances of about 99.75% of Africa Iron’s issued shares when its cash-offer period closed earlier this week. Exxaro also received acceptances of 98.7% of African Iron’s listed options and acceptances of 74.02% of the separate offers made for... 

Great Basin Gold’s share weakness puts BEE into default

By: Martin Creamer     15th March 2012 The decline in the share price of junior gold miner Great Basin Gold has resulted in the bank loan to its black economic-empowerment (BEE) partner going into default. The share price of the JSE-listed gold miner fell a further 4.76% to R5.99 a share on Thursday. 

NUM strike brings Modikwa production to a standstill

By: Henry Lazenby     15th March 2012 Production at Modikwa platinum mine, a joint venture between African Rainbow Minerals (ARM) and Anglo Platinum, had ground to a halt on Thursday, when about 3 000 members of the National Union of Mineworkers (NUM) downed tools from 06:00. NUM regional secretary for the organisation’s north-east... 

33 000 workers become owners of Harmony Gold

By: Henry Lazenby     15th March 2012 More than 33 000 employees of JSE-listed miner Harmony Gold will become owners of direct shares in the company through its employee share ownership plan (Esop), it announced on Thursday. The Esop is an equity-settled share incentive and share appreciation rights scheme, in terms of which... 

Company Announcement: Innovation Inspired by Nature at the 25th Corobrik Architectural Student of the Year Awards

15th March 2012 Architects, designers, engineers and innovators are going back to nature, according to biomimicry specialist and founder of biomimicrySA, Claire Janisch.  

Real Economy Report  

By: Creamer Media Reporter      15th March 2012 From Creamer Media in Johannesburg, this is the Real Economy Report. South African industrial and mining group Eqstra is sponsoring the Flying Lions aerobatic team. Keith Campbell reports. 

Aveng consolidates mining businesses into one Africa-focused unit 

By: Terence Creamer     14th March 2012 South African construction group Aveng has consolidated its opencast and underground mining business into a single R6-billion-revenue unit, which will pursue the expanding resources-linked opportunities arising globally, but especially in Africa. CEO Roger Jardine says Aveng Mining is already... 

NUM serves strike notice at Modikwa Platinum 

By: Henry Lazenby     14th March 2012 The National Union of Mineworkers (NUM) has served the Modikwa platinum mine, a joint venture between African Rainbow Minerals and Anglo Platinum, with a notice of its intention to down tools over a wage dispute. The NUM said the the company offered 9.5% for the A-band, 8.75% for the B-band and... 

South Africa leads the way in mobile health services which will change healthcare

By: Kim Kruger     14th March 2012 South Africa is leading the way in launching mobile health (mHealth) services with some of the most successful and best known mHealth initiatives having been developed in this country. This is according to Andrea Monteiro, director of Mobile Health Africa, which will gather the leading minds in... 

African defence forces ready themselves for potential future conflicts on the continent

By: Kim Kruger     14th March 2012 A renewed scramble for African resources has led to the continent becoming an arena for strategic and geopolitical competition which requires Africa to ready itself for possible multi-lateral conflicts within the next 10-15 years, says Tracey-Lee Zurcher, director of the upcoming Land Forces... 

Petra encouraged by Botswana diamond exploration results

By: Henry Lazenby     14th March 2012 LSE-listed Petra diamonds on Wednesday reported “highly encouraging” exploration results for its Kukuma East project, in Botswana, citing potential diamond grades of 75 carats per hundred tons (cpht) of ore. The diamond miner said a drilling and microdiamond sampling campaign carried out at the... 

Sylvania books profit, reports progress at tailings operations

By: Henry Lazenby     14th March 2012 ASX- and Aim-listed Sylvania Platinum on Wednesday reported a profit of $447 207 for the six months ended December 31, compared with a loss of $2.46-million for the same period in 2010. Revenue was up by 21% to $23.65-million, compared with the $19.5-million achieved in the first half of 2010.... 

Eqstra sells mining unit to Caterpillar for R475m

By: Natasha Odendaal     14th March 2012 Contract mining and equipment group Eqstra has sold its mining services business units in South Africa and Botswana to mining equipment provider Caterpillar Global Mining. The units, sold for R475-million as a going concern, were responsible for the Bucyrus international distributorship to... 

Implats’ Zimbabwe compensation unlikely at market rate – Liberum

By: Martin Creamer     14th March 2012 South Africa’s platinum major Implats, which has reached an enforced in-principle agreement on indigenising 51% of its Zimplats assets, is unlikely to be compensated by the Zimbabwean government at the market rate, mining analyst Liberum Capital Mining said on Wednesday. Zimbabwe’s... 

Company Announcement: South Africa leads the way in mobile health services which will change healthcare

14th March 2012 South Africa is leading the way in launching mobile health (mHealth) services with some of the most successful and best known mHealth initiatives having been developed in this country. 

Doornkop output to fall on big South Reef intervention

By: Idéle Esterhuizen     13th March 2012 Harmony Gold has redesigned its planned ramp up of the South Reef project at its Doornkop mine, west of Johannesburg, which will result in a sharp fall in production during the March quarter, but should enable the project to accelerate its production build up over the longer term. The JSE-listed... 

SA’s platinum output slumps nearly 20% in January

By: Mariaan Webb     13th March 2012 South Africa’s platinum-group metals (PGMs) production fell nearly 20% year-on-year in January, as the six-week strike at Impala Platinum’s (Implats’) Rustenburg mine hurt output. Compared with December’s production, output declined by 15.3% last month, Statistics South Africa (Stats SA)... 

Threatened ferrochrome eyeing Canada’s potash turnaround model 

By: Martin Creamer     13th March 2012 Stability can be brought to South Africa’s ferrochrome industry by creating a marketing organisation for ferrochrome similar to the Canpotex marketing arm that boosted potash in Canada, the South African ferrochrome industry says in a brochure handed to the media. The stricken ferrochrome... 

Harmony halts Kusasalethu ops after two deaths

By: Idéle Esterhuizen     13th March 2012 Operations at JSE-listed Harmony Gold's Kusasalethu gold mine, near Carletonville, have been halted after the death of two workers, spokesperson Marian van der Walt said on Tuesday. Although details surrounding the incident were still sketchy, it was thought that a mudslide at about 13:34 was... 

Petmin says ready for local, international growth

By: Henry Lazenby     12th March 2012 JSE-listed diversified miner Petmin on Monday reported profit of R47-million for the six months ended December 31, following a period of significant capital investment in its flagship Somkhele metallurgical anthracite mine, in KwaZulu-Natal, and expansion operations abroad. Although the... 

Absa teams up with AFD to fund clean energy projects

By: Idéle Esterhuizen     12th March 2012 Commercial bank Absa has partnered with French development finance institution Agence Français de Developpmente (AFD) to offer R400-million worth of loan financing to companies with commercially viable clean energy or energy efficient projects. Absa head of business markets Marcel de Klerk said... 

CoAL confirms hard coking coal at Makhado, eyes Indian market 

By: Martin Creamer     12th March 2012 Product testing has confirmed hard coking coal at the Makhado project for which the Indian market is being eyed. 

Ferrex declares maiden resource at Malelane

By: Natasha Odendaal     12th March 2012 Aim-listed Ferrex has declared a maiden Joint Ore Reserves Committee- (Jorc-) compliant resource of 139-million tons at 40.1% calcined iron (CaFe) at its Malelane iron-ore project, in Mpumalanga. The iron-ore and manganese company believed the inferred resource would enable an operation with an... 

Sasol says R14bn coal replacement projects will sustain 4 000 jobs

By: Terence Creamer     12th March 2012 South African energy and chemicals group Sasol is moving ahead with its R14-billion coal-replacement programme across three sites in a bid to secure supply to its coal-to-liquids refinery in Secunda, as well as sustain its coal exports through the Richards Bay Coal Terminal (RBCT). CEO David... 

Botswana becomes State diamond trader

By: Nomvelo Buthelezi     12th March 2012 The government of Botswana has established a State diamond trading company that will be responsible for the purchasing, selling and marketing of the State’s portion of Debswana production, Botswana’s daily newspaper Mmegi reports. Mining Weekly Online reported in September that the Botswana... 

Company Announcement: CMG gears up for bigger market share with a range of Geared Motors

12th March 2012 CMG Electric Motors South Africa, well known in Southern African mining and other industry for its class leading electric motors, has added a wide range of flexible transmission solutions to the product portfolio. The off-the-shelf range of worm-geared reducers, helical shaft mounted reducers and... 

Sukari operations resume, stoppage to impact Q1 output 

By: Mariaan Webb     12th March 2012 Operations have resumed at the Sukari gold mine in Egypt, where labour unrest brought the mine to a standstill last week, Centamin reported on Monday. The illegal strike and work stoppage, which started as a result of a disagreement over salary increases and other benefits, would affect... 

First Vele coal sales Q4 - CoAL

By: Martin Creamer     12th March 2012 The first coal sales from the controversial Vele coal project are expected in the fourth quarter of 2012, AIM- ASX- and JSE-listed Coal of Africa (CoAL) said on Monday. CoAL, headed by CEO John Wallington, is winning its battle to mine at Vele, despite the proximity of Mpungubwe, which CoAL has... 

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