DiamondCorp finalises funding package for Lace mine

JOHANNESBURG (miningweekly.com) – Southern African diamond development and exploration company DiamondCorp has finalised the £23-million finance package for the 47-level block cave development at... 

SA mining output up 7% year-on-year in February, reflecting low 2012 base

JOHANNESBURG (miningweekly.com) – Mining production in South Africa increased in February, growing 7% year-on-year, following the downwardly revised 6.7% growth in January, Statistics South... 

Continental Coal finalises Mashala Resources deal

ASX- and Aim-listed Continental Coal on Thursday said its 74%-owned South African subsidiary had completed the acquisition of the outstanding minority interests in coal mining junior Mashala... 

RBPlat reports higher production despite tough market conditions

Notwithstanding a challenging business environment, black-empowered platinum producer Royal Bafokeng Platinum (RBPlat) reported a 4% year-on-year increase in total tonnes delivered to concentrators... 

SA miners most exposed to risk of tumbling gold prices – Fitch

South African miners had the biggest exposure to the risk of falling gold prices, owing to high production costs that were rising further at a fast pace, ratings agency Fitch said on Thursday. The... 

Rebosis expects Comp Commission approval of Sunnypark Centre deal soon

JSE-listed black-managed Rebosis Property Fund expected the Competition Commission to approve its acquisition of the Sunnypark Centre, in Pretoria, within the next week, while transfer was... 

Fading confidence in collective bargaining could lead to job cuts, warns law firm

The apparent opting out of labour union membership in South Africa amid a wave of wildcat strikes, could mark a rise in employee terminations, should companies lose confidence in collective... 

Hospitality to buy 100% stake in Radisson Blu Gautrain hotel for R443m

Hospitality Property Fund’s (HPH’s) wholly owned subsidiary HPF Properties (Propco) has entered into a new sales agreement with Savana to acquire 100% of the Radisson Blu Gautrain hotel and... 

Zeder agrees to buy Capespan for R285m

Investment company Zeder, through its wholly owned subsidiary Zeder Financial Services, on Wednesday said it had reached an agreement to acquire the entire shareholding held by Total Produce in... 

N1-N2 Winelands improvements to benefit surrounding communities, create jobs

The South African National Roads Agency Limited (Sanral) spokesman Vusi Mona has rejected reports that the N1-N2 Winelands toll highway project would adversely affect members of impoverished... 

Davis agrees to step down as Glencore-Xstrata merger clears last major hurdle

Xstrata CEO Mick Davis has agreed to not take up the six-month role of CEO and executive director of the combined Glencore Xstrata group – one of the conditions set by China’s Ministry of Commerce... 

Preparations for construction of Air Products’ R300m ASU plant to start in June

Site clearance and preparation for the construction of industrial gas supply company Air Products’ R300-million air separation unit (ASU) in the Coega Industrial Development Zone (IDZ) would start... 

Amcu indicates it will reject CoM collective bargaining proposal

Although the Chamber of Mines (CoM) was expecting to receive a formal response from the Association of Mineworkers and Construction Union (Amcu) regarding its proposed formation of a centralised... 

Firestone enters into talks with interested funders

ASX- and JSE-listed Firestone Energy has entered into discussions with interested parties regarding future funding. The company, which is currently the takeover target of fellow ASX-listed Range... 

Construction on Bronkhorstspruit biogas plant to start in June

Construction on the Bronkhorstspruit Biogas Plant (BBP) would start in June and be completed in the first quarter of next year, the project developer Bio 2 Watt says. Founder Sean Thomas told... 

Textiles competitiveness programme creates over 12 000 permanent jobs – DTI

The Clothing and Textiles Competitiveness Programme (CTCP) had, to date, created more than 12 000 new permanent jobs in South Africa’s clothing, textiles, leather and footwear sectors, Department... 

IMF recognises new Somali federal government

The International Monetary Fund (IMF) on Monday announced that it now recognised the new Federal Government of Somalia, which took office in September last year, paving the way for the resumption... 

Bühler South Africa launches compact mobile maize-milling plant

Food processing plant and equipment supplier Bühler South Africa on Friday launched its 2 t/h mobile Isigayo compact mill, aimed at tackling government’s mandate of developing the small-scale... 

Afrimat makes offer to remaining Infrasors investors

JSE-listed construction materials supplier Afrimat has offered remaining shareholders of South African resources group Infrasors 35c a share to acquire their shareholding in the company, the same... 

Africa’s focus on ‘new’ infrastructure contributing to maintenance deficit

The emphasis on building new infrastructure in South Africa, as well as the rest of Africa, was to the detriment of the continent’s existing infrastructure, creating a maintenance deficit,... 

Randgold ‘rapidly advancing’ growth projects – Bristow

JOHANNESBURG (miningweekly.com) – Africa-focused miner Randgold Resources is rapidly advancing its further growth projects and examining new joint-venture opportunities, CE Mark Bristow said on... 

Cutifani says he’ll initially focus on value creation

JOHANNESBURG (miningweekly.com) – Diversified miner Anglo American’s new CEO Mark Cutifani has indicated that his initial focus would be to find ways to improve value creation within the company.... 

Third licence added to Botswana Diamonds/Morminas agreement

Aim-listed Botswana Diamonds on Thursday said a third license block would now be evaluated on the Save river, in Mozambique, as part of its recently signed option agreement with a Mozambican... 

SA mining output up 7% y/y in February, reflecting low 2012 base

Mining production in South Africa increased in February, growing 7% year-on-year, following the downwardly revised 6.7% growth in January, Statistics South Africa’s (Stats SA’s) preliminary... 

Sable Platinum buys 4% stake in Global Initiatives for $4m

Platinum exploration company Sable Platinum on Thursday said it had entered into an agreement to acquire a 4% equity interest in Botswana-based mining company Global Initiatives for $4-million. In... 

Zondereinde strike persists despite interdict

Striking rock drill operators at JSE-listed Northam Platinum’s Zondereinde mine have still not returned to work, despite being served with an interdict issued by the Labour Court, which ruled that... 

DiamondCorp finalises funding package for Lace mine

Southern African diamond development and exploration company DiamondCorp has finalised the £23-million finance package for the 47-level block cave development at its Lace mine, in the Free State.... 

Infralink opens Zim’s first toll plaza

Construction consortium Infralink on Wednesday officially opened Zimbabwe’s first toll plaza – Ntabazinduna – 20 km outside Bulawayo. The plaza was the first of eight to be constructed as part of... 

Southern Africa’s reserve margin to stabilise as power capacity is added

The Southern African Power Pool (SAPP) member countries planned to commission about 18 000 MW of additional power generation capacity by 2016, which would improve the current negative reserve... 

DoE to approach small power producers for REIPPPP before year-end

The Department of Energy (DoE) will, before the end of this year, advertise for small power producers, with projects under 5 MW, to participate in its small-generator programme under the Renewable... 

Gas key to SA’s future power mix

Gas would form a key part of South Africa’s future power generation mix, with the focus to fall on liquefied natural gas (LNG) in the short term and on shale gas in the long term, Standard Bank... 

Zondereide strike continues

JSE-listed platinum producer Northam Platinum confirmed on Monday afternoon that the roughly 500 rock drill operators at its Zondereinde mine, who downed tools on April 4 in demand of a 38%... 

Scharrighuisen, trusts to pay R40m to settle claims

As per a settlement agreement that was concluded on April 4, the Marinvia Trust, the CIMS Trust, Sylco, Clasina Scharrighuisen and Marcel Scharrighuisen have agreed to, jointly and seperately, be... 

Source Africa 2013 trade show to kick off in Cape Town

The quality, reliability and sophistication of African textiles and apparel suppliers, and service providers to prospective international buyers, will be showcased at the Source Africa 2013 trade... 

Sierra Rutile markedly improves production in Q1

Aim-listed mineral sands producer Sierra Rutile recorded improved production during the first quarter of 2013, with rutile output growing by 21% to 25 087 t and ilmenite production increasing by... 

Northam loses R46.2m in Zondereinde strike

JSE-listed platinum producer Northam Platinum on Friday said it had lost about R46.2-million in revenue since rock drill operators at its Zondereinde mine have refused to go underground since April... 

Cable theft, faulty train cause major Metrorail service halts in Gauteng

Commuter rail operator Metrorail said a power failure, following the theft of about 55 m of overhead power cable at Centurion on Friday morning had halted the train service on the... 

Umgeni Water seeks contractor for 55 Ml/d raw water treatment works

State-owned water utility Umgeni Water has called on competent contractors to tender for the construction of the 55 Ml/d Lower Thukela Bulk Water Supply Scheme (LTBWSS) adjacent to the Thukela... 

Africa’s inability to meet energy demand is costing jobs and growth

It is estimated that at least $40-billion a year is required to meet future demand in the African power sector, compared with current yearly investment of less than one-quarter this amount, New... 

Growthpoint launches R150m Gauteng industrial expansion

Property development firm Growthpoint Properties has launched a R150-million client-driven industrial property development and redevelopment programme in Gauteng. In Meadowbrook, Germiston,...