|
|
 |
|
|
30 July 2010
|
|
|
|
|
 |
|
Together for the long haul
|
|
Charlotte Mathews
|
|
Mining minister Susan Shabangu expresses the desire to improve SA’s allure to foreign investors, but her out-of-the-blue statement at a press conference last week — that mining companies will get no credits for empowerment if their black partners sell — provoked a recoil. Another cause for alarm could be a clause in the “Declaration on Strategy for the Sustainable Growth & Meaningful Transformation of SA’s Mining Industry”, signed last week by industry, government and labour.
|
Financial Mail
Friday, July 09, 2010
|
|
|
|
Experience where it counts
|
|
Charlotte Mathews
|
Patience and diplomacy are needed to reconcile the sometimes hotly divergent interests of government, labour and mining companies. As new CEO of the Chamber of Mines, Bheki Sibiya’s long career in business, human resources and heading various industry organisations will come in handy. Sibiya started work at the Chamber this week, but outgoing CEO Mzolisi Diliza, who turns 61 this year, will remain with the chamber until the end of the year for a hand-over period.
|
 |
|
Financial Mail
Friday, July 09, 2010
|
|
|
|
|
Drawn-out process
|
|
Charlotte Mathews
|
Arbitration will extend into this week and next between Mvelaphanda Resources and black empowerment group Khumama on splitting the value of the rich Booysendal platinum mine now being developed by Northam. After the hearings are concluded, it is likely to take about four weeks for the arbitrator to make a ruling — putting pressure on Mvela Resources’ plans to unbundle its assets and delist from the JSE by the end of this year.
|
|
|
|
Financial Mail
Friday, July 09, 2010
|
|
|
|
|
|
Anglo offloads Australian coal assets for R3,76bn
|
|
Simon Mundy
|
Anglo American yesterday announced the sale of Australian coal assets worth A$580m (R3,76bn), as part of a continuing drive to shed noncore assets. The move follows two months of controversy around a proposed new mining tax in Australia but Anglo denied that this had played any part in the decision, pointing out that the proposed sale had been made public in February.
|
|
|
|
Business Day
Tuesday, July 06, 2010
|
|
|
|
|
Knee on his neck
|
|
Charlotte Mathews
|
Every now and then, Anglo Platinum’s attempt to project a more amiable image under current management than it maintained during the 1990s starts to falter. The group, which makes about R50bn revenue in a good year, and Patrice Motsepe’s African Rainbow Minerals (revenue: R10bn) are still pursuing human rights lawyer Richard Spoor for R3,5m damages over comments he made in 2006 about their treatment of Limpopo communities.
|
|
|
|
Financial Mail
Friday, July 02, 2010
|
|
|
|
|
|
Flaws in the process
|
|
Charlotte Mathews
|
The credibility of the Kimberley Process for rough diamond certification hangs by a thread. For the first time in its seven-year history, members were unable to reach consensus at a meeting when they gathered in Tel Aviv last week to decide on Zimbabwe’s compliance. Reports of abuses of civilians at the Marange diamond mine in Zimbabwe have been filtering out for four years. Marange is controlled by the army, allegedly for the profit of a few politicians. If human rights organisations withdraw from the Kimberley Process because of Zimbabwe — as some have hinted they might — the initiative might as well close its doors.
|
|
|
|
Financial Mail
Friday, July 02, 2010
|
|
|
|
|
New twist in ‘snatched’ Sishen mine rights saga
|
|
Tim Cohen
|
Evidence has emerged that suggests the application by Imperial Crown Trading 289 for a prospecting right over Kumba Iron Ore’s Sishen mine, potentially worth billions of rands, may be tainted by malfeasance, complicating intense behind the scenes negotiations over the status of the right. Documents viewed by Business Day suggest inconsistencies between the dates on which the application for the prospecting right was signed by the applicant, and the receipt date stamp of the Department of Mineral Resources.
|
|
|
|
Business Day
Wednesday, June 23, 2010
|
|
|
|
|
|
|
|
|
contact us | add to favourites |
| |
|
BDFM Publishers (Pty) Ltd disclaims all liability for any loss, damage,
injury or expense however caused, arising from the use of,
or reliance upon, in any manner, the information provided through
this service and does not warrant the truth, accuracy or completeness
of the information provided. The publisher's permission is required to
reproduce the contents in any form including, capture into a database,
website, intranet or extranet.
(c) BDFM Publishers
|
|
|
|
|
|
|
|
|
|
Black Economic Empowerment (“BEE”) was meant to have found itself on more certain ground with the gazetting of the Codes of Good Practice in 2007. After all the years of anticipating an end to the moving targets and constantly shifting playing fields, the South African business community had cause to celebrate the birth of a decade of BEE certainty as the Codes superseded the plethora of sector charters and corporate self regulation.
|
|
|
|
|
|
|
|
|