R/€ = 15.48 Change: 0.09
R/$ = 13.16 Change: 0.13
Au 1284.50 $/oz Change: -1.61
Pt 977.00 $/oz Change: -2.00


Zimbabwe tightens screws on miners' export earnings in forex crunch

By: Reuters     18th August 2017 The Reserve Bank of Zimbabwe has ordered platinum and chrome miners to surrender 80% of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage. Previously miners in the southern African nation were required to retain 50% of their earnings. 

Comprehensive service support adds value to forklifts

By: Robyn Wilkinson     18th August 2017 Industrial equipment supplier Smith Power Equipment (SPE) is ensuring that the value-add on its range of imported forklifts meets customer requirements while balancing performance and cost to help companies manage the economic challenges. 

Crystal Events Africa

     18th August 2017 Crystal Events Africa, formerly Crystal Events & Incentives, is a leading conference, incentive travel and corporate meeting organiser in South Africa. Its recent expansion into Africa has increased its business capacity to successfully drive intercontinental business through in-bound incentive... 

PPC Q1 trading in line with expectations

By: Creamer Media Reporter      17th August 2017 Cement maker PPC on Thursday said its first-quarter revenue had tracked ahead of the comparative period in the prior year, while group earnings before interest, taxes, depreciation and amortisation (Ebitda) were in line with that of the first quarter of the previous year. However, while the South... 

Caledonia’s Blanket mine on track to deliver 80 000 oz/y by 2021

By: Anine Kilian     14th August 2017 Gold miner Caledonia Mining is confident its Blanket mine, in Zimbabwe, will meet its full year production guidance of 52 000 oz to 57 000 oz, as well as the longer-term output target of 80 000 oz by 2021. The mine produced just over 25 000 oz of gold in the first half of this year, at an all-in... 

Arafak posts strong Q2 results

By: Natasha Odendaal     11th August 2017 Nasdaq- and LSE-listed Afarak Group has delivered another robust second quarter driven by continued higher ferrochrome prices and strong market fundamentals. This followed a positive start to the new financial year after Arafak achieved the highest quarterly gains in the company’s history during... 

Eskom to sell more surplus power in major turnaround

By: Reuters     10th August 2017 South African power utility Eskom is to start selling more of its surplus capacity as new plants come on line, its acting chief executive said on Thursday, marking a shift from two years ago when the company had to conserve power because of shortages. South Africa had regular power cuts in 2015... 

Volvo Car SA ready for hybrid, electric vehicle rollout post-2019, says MD

By: Irma Venter     10th August 2017 Volvo Car South Africa (VCSA) MD Greg Maruszewski is confident the local arm of the Swedish group will be able to thrive under its parent company’s new powertrain policy. Volvo announced last month that all new cars launched globally from 2019 onwards will be partially or completely... 

Transnet to recapitalise Zimbabwe rail firm 

By: Reuters     10th August 2017 South African logistics group Transnet has won a bid to recapitalise the government-owned National Railways of Zimbabwe (NRZ) with $400-million, the company's board chairman said on Thursday. Larry Mavhima said the financially struggling NRZ will begin contract negotiations with Transnet next week. 

SADC urged to liberalise services and improve business environments

By: Keith Campbell     4th August 2017 In addition to making intraregional trade in goods easier, the member countries of the Southern African Development Community (SADC) should facilitate intra-bloc trade in services and improve their business environments, the Organisation of Economic Cooperation and Development (OECD) argued in... 

Zim staves off punitive action by Eskom, again – report 

By: News24Wire      2nd August 2017 Zimbabwe government officials have held "tough negotiations" with managers at Eskom to prevent South Africa’s power utility cutting off supplies over a $40-million debt. Cash-strapped Harare has been given another chance not to default on a repayment plan, which had seen Eskom threatening to cut... 

Zimbabwe asks court to enforce seizure of Zimplats mining ground

By: Reuters     2nd August 2017 Zimbabwe has filed a court application to enforce a previous notice to seize more than half of platinum producer Zimplats' mining land, the company said on Wednesday. Zimplats, which is majority controlled by Impala Platinum in January said President Robert Mugabe's government had made a fresh... 

Parnis Takes Its Engineering Expertise To New Heights

     31st July 2017 As difficult market conditions force companies in many sectors to relook at their cost structures, quality refurbishment is becoming more important as a strategy to contain costs. According to Gary Colegate, general manager of Parnis Manufacturing, such strategies demand that customers find... 

Premier African Minerals secures new funding

By: Natasha Odendaal     31st July 2017 Aim-listed Premier African Minerals on Monday announced a series of funding agreements that will allow the multicommodity mining and natural resources development company to increase its stake in Ethiopia-based Circum Minerals and fast-track exploration efforts at its wholly-owned Zulu lithium... 

Zim piling up gold, diamonds to back new currency – VP

By: News24Wire      31st July 2017 Zimbabwe Vice President Emmerson Mnangagwa says the cash-strapped Zimbabwe government is piling up reserves of gold and diamonds to back a new local currency. But he did not say when the new currency would be introduced. 

Cash-strapped ASA Resource Group suspends trading on Aim

By: Samantha Herbst     28th July 2017 Cash-strapped diversified miner ASA Resource Group has suspended the trading of its ordinary shares on the Alternative Investment Market, with effect from 11:00 on Friday morning. The Africa-focused miner attributed its cash constraints to currency restrictions imposed by the Reserve Bank of... 

Vast pleased with q/q production improvements at Romania, Zimbabwe mines

By: Creamer Media Reporter      28th July 2017 Operations at Aim-listed Vast Resources’ Manaila polymetallic mine, in Romania, and Pickstone-Peerless gold mine, in Zimbabwe, improved significantly quarter-on-quarter in the three months to June 30. During the second quarter, the 100%-owned Manaila mine, achieved a 41% quarter-on-quarter... 

Automotive future positive through telematics 

By: Victor Moolman     28th July 2017 The future for automotive fleet management through telematics is positive, says JSE-listed fleet management, insurance telematics and stolen vehicle recovery service provider Cartrack. 

Comair reports its diversification strategy is working

By: Keith Campbell     28th July 2017 South African airline group Comair Limited’s strategy of countering the weak local air passenger market by diversifying its business is proving successful, reports company CEO Erik Venter. “It’s working very well. About 20% of our profits are coming from our non-airline businesses and we’re... 

UP researchers join fight against avian flu

By: Natasha Odendaal     25th July 2017 With four South African farms having been hit by the current bird flu outbreak, University of Pretoria (UP) researchers have joined the poultry industry and the Department of Agriculture, Forestry and Fisheries (DAFF) to contain the highly pathogenic avian influenza, or H5N8 variant of bird flu.... 

Caledonia to list on NYSE

By: Anine Kilian     24th July 2017 TSX-and Aim-listed Caledonia Mining will list on the NYSE on July 27. The listing on the NYSE is intended to provide the company with greater access to US institutional and retail investors, which, in turn, is hoped will result in better overall trading liquidity, a lower cost of capital and... 

Tongaat Hulett launches R550m sugar refinery project in Mozambique

By: Anine Kilian     24th July 2017 Sugar producer Tongaat Hulett on Monday launched a R550-million 90 000 t/y refinery to process brown sugar into white sugar at its Mozambique-based Xinavane sugar mill. The refinery will produce its first product in September 2018. 

Conservative streak prevailed at ANC policy conference  

By: Aubrey Matshiqi     21st July 2017 At the end of the policy conference of the African National Congress (ANC), President Jacob Zuma declared that the ruling party was more united than it had been when the conference began. In the process of delivering his closing address, he proposed that the loser in the race for the presidency... 

Lessons learned underpin multicontinent sugar strategy

By: Robyn Wilkinson     21st July 2017 Specialised polymer manufacturer Vesconite Bearings believes that the experience it has gained from KwaZulu-Natal sugar mills will prove instrumental in ensuring the success of its multi-continent sugar strategy and grow the company’s revenue from new markets. 

Caledonia lowers FY17 output target on infrastructure constraints

By: Creamer Media Reporter      20th July 2017 Canadian gold miner Caledonia Mining has reduced its full-year production target to between 52 000 oz and 57 000 oz of gold, from the previously targeted 60 000 oz. The company’s Blanket mine, in Zimbabwe, produced 12 522 oz of gold in the quarter ended June 30, compared with the 12 510 oz... 

Amplats own-mine output up, sales down in two-fatality quarter

By: Martin Creamer     20th July 2017 Performance from its own mine operations helped platinum production from Anglo American Platinum (Amplats) to increase in the three months to June 30, but sales volumes fell sharply on technical problems and two mineworkers succumbed to fatal injuries. Full-year production guidance remains... 

Process Pipes

By: Zandile Mavuso     18th July 2017 With 47 years’ expertise in the pipes industry, wholesale carbon and mild steel pipes, fittings and flanges wholesaler Process Pipe has established a national footprint in South Africa, with branches in Gauteng (Alrode), KwaZulu-Natal (Jacobs) and two branches in the Western Cape (Belville and... 

Tokwe Mukosi dam project, Zimbabwe

By: Sheila Barradas     14th July 2017 The Tokwe Mukosi dam is the largest artificial lake in Zimbabwe. 

ASA’s shares surge on takeover offer from Chinese firm

By: Creamer Media Reporter      12th July 2017 The share price of Aim-listed ASA Resources rose more than 45% on Wednesday morning, after it announced that investment company Rich Pro Investments (RPI) has made an offer to acquire the company. RPI, which is owned by Chinese copper processing firm and nonferrous metals trader Hailiang, has... 

Bird Flu confirmed on new locations in Gauteng and Mpumalanga

By: African News Agency      12th July 2017 The Highly Pathogenic Avian Influenza (HPAI) H5N8 virus – commonly known as bird flu – has been confirmed on two new locations on farms in Gauteng and Mpumalanga, the department of agriculture, forestry and fisheries said on Tuesday. “The new locations involved commercial layer chickens on farms... 

Gas ‘would power SA growth’

     12th July 2017 A gas economy could significantly drive South African economic growth, and the discovery of substantial natural gas reserves in the Karoo would be akin to finding gold and sparking a new gold rush, speakers said at the opening of the 4th annual Africa LPG Summit and Natural Gas & CNG Africa Forum... 

Manganese makes list of key tech metals heading for short supply

By: Martin Creamer     11th July 2017 Nothing can stop the proliferation of iPhones, solar panels and Teslas, except perhaps a shortage of key natural resources, comments the latest Fortune magazine, which puts manganese from South Africa on the list of crucial technology metals needed in the US. Fortune’s world map showing the... 

Caledonia reports fatality at Blanket mine

By: Anine Kilian     10th July 2017 An employee at Southern Africa-focused gold miner Caledonia Mining’s Blanket mine, in Zimbabwe, has died in a mining-related accident. The accident occurred at the Number 6 shaft on July 7. 

Musina intermodal terminal expected to improve cross-border trade

By: Schalk Burger     7th July 2017 The Musina Intermodal Terminal (MIT), launched in June, is set to reduce the cost of cross-border trade, especially for bulk commodities, on the North-South trade corridor. The terminal, about 3 km outside Musina and about 13 km from the Beitbridge border post, will serve to move commodities,... 

Zim likely to miss $300m chrome ore export target this year

By: Oscar Nkala     7th July 2017 The Minerals Marketing Corporation of Zimbabwe (MMCZ) has indicated that local chrome producers might not achieve the projected 2017 export target of $30-million, owing to falling international commodity prices and the flooding of the traditionally lucrative Chinese market with cheap-quality ore... 

Wescoal’s Mazarura appointed Kumba CFO

By: Natasha Odendaal     6th July 2017 Wescoal CFO and executive director Bothwell Mazarura has resigned to join Kumba Iron Ore as CFO and executive director, effective September 1. Mazarura, who has worked at Wescoal since July 2016, holds a Bachelor of Accounting Science Degree from the University of South Africa and is an... 

Learning from, replicating land reform successes a better option than land grabs – Hanekom

By: Natasha Odendaal     5th July 2017 Expropriation of land without compensation will result in serious damage to the economy and is fundamentally unjust, Member of Parliament and former Tourism Minister Derek Hanekom reiterated on Wednesday. Speaking at the Agribusiness Africa conference, in Kempton Park, he said that while the... 

Mining Indaba offering new junior zone, boosting interface opportunities 

By: Martin Creamer     4th July 2017 Strong new thrusts are planned for next year’s Investing in African Mining Indaba, which is scheduled to take place at the Cape Town International Convention Centre from February 5 to 8, once again to support investment in mining companies operating in Africa and to provide an effective platform... 

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