Idéle Esterhuizen

https://staging1.creamermedia.com/

Idéle Esterhuizen

ABG moving to adapt to lower price environment – CEO

30th July 2013 Tanzania-focused gold miner African Barrick Gold (ABG) delivered a strong operational performance in the first half of 2013, with production tracking ahead of guidance and cash costs below the bottom of the guidance range, CEO Greg Hawkins said on Tuesday. But the company announced an interim... →

Villagers sue African Barrick Gold over 2011 deaths, injuries

30th July 2013 London law firm Leigh Day on Tuesday served gold producer African Barrick Gold (ABG) with legal proceedings in a UK High Court, claiming that the company was liable for the deaths and injuries of villagers that lived close to its North Mara gold mine, in Tanzania. The claims relate to incidents... →

Delta Property Fund raises R190m in inaugural commercial paper issuance

29th July 2013 Property loan stock group Delta Property Fund has completed its debut commercial paper issuance. The black-managed and substantially black-owned group indicated that its notes were issued off a newly established R2-billion Domestic Medium Term Note Programme that was registered with the JSE. The... →

Copper theft index records first significant rise since Sept

29th July 2013 The South African Chamber of Commerce and Industry’s (Sacci’s) Copper Theft Barometer, in June, registered its first significant increase since September last year when it rose to R11.1-million, up from R9-million in May and R9.9-million in April. While the index has been showing downward... →

Gem Diamonds lowers production guidance for 2013

29th July 2013 London-listed Gem Diamonds on Monday lowered its 2013 production guidance for the Letšeng mine, in Lesotho, to between 95-million carats and 105-million carats recovered and sold, as tons of ore treated were lower than planned, owing to the installation of the secondary and tertiary cone crushers... →

Anglo unveils group shake-up, profit plunges 28%

26th July 2013 Mark Cutifani, the new CEO of Anglo American on Friday announced various high-level management changes to create a “more efficient and agile” organisation. The management changes, which includes the recruitment of AngloGold Ashanti executive Tony O’Neill, come as the diversified group posted 28%... →

Basil Read Matomo starts construction of R550m wind farm

26th July 2013 Engineering and construction has started on the R550-million, 27 MW MetroWind Van Stadens wind farm, about 30 km from Port Elizabeth, in the Eastern Cape, one month after the docking of the components at the Port of Ngqura. Lead engineering, procurement and construction (EPC) contractor Basil... →

Iliad Africa to sell lossmaking ceramics business for R50m

26th July 2013 JSE-listed Iliad has agreed to sell its ceramics business Ferreiras as a going concern to Portion 140 Springs Properties for R49.64-million. “The strategy developed after reviewing Iliad’s business in the midst of the macro financial crisis has been steadily unfolding, underscoring the company’s... →

SA trade conditions may tighten during second half

26th July 2013 Trade conditions in South Africa remained positive, despite the tightening of international and retail trade, the South African Chamber of Commerce and Industry (Sacci) said earlier this month. The industry body’s Trade Conditions Survey for June showed that the seasonally adjusted trade... →

New auto components JV set up in East London

26th July 2013 Luxembourg-headquartered International Automotive Components (IAC) reported earlier this month that it had formed a joint venture (JV) with South African automotive flooring, acoustics and trim components supplier Feltex Automotive, which marked IAC's initial entry into the growing South African... →

Zambia’s Mining Ministry keen to see more local procurement

25th July 2013 Zambia’s Ministry of Mines, Energy and Water Development chief mining engineer Derick Chilumbu, said on Thursday that significant opportunities existed for investors to set up engineering businesses to supply the country’s mining industry. Speaking at an investment symposium hosted by auditing... →

Zambia seeks investors for mini hydro projects

25th July 2013 Zambia’s energy sector offers ample opportunities for investors, Rural Electrification Authority (REA-Zambia) community mobilisation officer Naomi Sidomo said on Thursday, highlighting the particular potential for pubic–private partnerships in developing mini hydropower plants. With about 40% of... →

British Airways opens SA ticket sales for new A380

24th July 2013 Global airline British Airways (BA) on Wednesday opened South African ticket sales for its new Airbus A380 superjumbo aircraft, which it plans to fly to Johannesburg from February 2014. The company was offering discounts of up to 40% from South Africa to London, with World Traveller fares... →

DWA reports good progress in eradication of unlawful irrigation from Vaal River System

24th July 2013 The Department of Water Affairs (DWA) has, to date, prevented 51-million cubic meters a year of unlawful water use in the Vaal River System through its Reconciliation Strategy, which was aimed at eliminating 175-million cubic meters a year of unlawful water use by 2014. The DWA completed the... →

Aquarius ‘uniquely positioned to survive winter of wage negotiations' – analyst

24th July 2013 Platinum-group metals (PGM) producer Aquarius Platinum on Wednesday delivered another increase in quarterly production and reminded investors that it had successfully concluded wage negotiations without any operational interruptions. The world’s fourth-largest platinum producer reported a 22%... →

Carbon pricing idea gaining steam as global leaders recognise climate risks

23rd July 2013 In three years time, the vast majority of global carbon dioxide (CO2) emissions would come from jurisdictions with carbon pricing, as more former sceptics are reinventing themselves as contributors to the carbon pricing infrastructure of the future and global leaders recognise the risk that... →

Tribunal confirms Aveng, Guiricich settlements

23rd July 2013 The Competition Tribunal on Wednesday confirmed the last of the settlement agreements between the Competition Commission and 15 major construction firms which had admitted to collusive tendering in contravention of the Competition Act. This came as the tribunal confirmed the R306.58-million... →

MTN CFO resigns

22nd July 2013 Telecommunications group MTN on Monday announced that its group CFO and executive FD Nazir Patel had resigned with immediate effect. The group stated that Patel had indicated that he did not wish his continued employment to prejudice the company in respect of certain allegations made against him.... →

Tribunal confirms 13 construction settlement agreements

22nd July 2013 The Competition Tribunal on Monday confirmed all but two of the construction settlement agreements between the Competition Comission and 15 major construction firms. Last week, the tribunal heard the settlement agreements between the commission and the construction firms, which, in June, agreed... →

Gold Fields initiates drilling campaign in Quebec

22nd July 2013 South Africa-headquartered Gold Fields has initiated an exploration campaign at TSX-listed Yorbeau Resources’ Rouyn property, in Quebec, Canada, as part of an option and joint venture (JV) agreement. Gold Fields, which is carrying out the two-phase drilling programme through an indirect... →

Cockerill appointed African Minerals vice-chairperson

22nd July 2013 Former Gold Fields CEO Ian Cockerill has joined the board of West African iron-ore miner African Minerals as an independent director and vice-chairperson, the company announced on Monday. Cockerill, whose appointment is in line with African Minerals’ objective of having a majority of independent... →

African Copper Q1 concentrate output up 91%

22nd July 2013 Aim-listed African Copper lifted copper in concentrate production from its Botswana mines by 91% to 3.08-million tons in the first quarter of its 2014 financial year, the company reported on Monday. During the quarter, ore processed increased by 5% to 181.23-million tons, compared with... →

Gemfields nets $31.5m in Lusaka auction

22nd July 2013 The 583 448 ct of rough emerald and beryl that Gemfields put on auction in Lusaka last week have earned the Aim-listed junior $31.5-million in revenue. The company reported on Monday that 37 companies had attended the auction, which was moved to Lusaka from Singapore at the request of the Zambian... →

MRI secures financing to complete briquetting project

19th July 2013 AltX-listed Mine Restoration Investments (MRI) on Friday said it planned to commission its coal briquetting project in the next two weeks after securing financing for the project. The company said that Octavovox, in which it held 51% through its Western Utilities Corporation (WUC) subsidiary, had... →

Tribunal to resume hearing into CompCom’s complaint against SAB

19th July 2013 The Competition Tribunal would on Monday resume its hearing into a complaint, brought by the Competition Commission against South African Breweries (SAB), in December 2007, regarding the company’s distribution system and claims that it abused its market dominance. The hearing would run from July... →

Nxesi vows to take steps to rid construction of ‘criminal tendencies’

19th July 2013 The combined fine of R1.46-billion imposed on the group of 15 construction companies admitting to collusive tendering, was viewed in many quarters as merely a “slap on the wrist” and sent out the message that large firms could get away with fraud and corruption, Public Works Minister Thulas Nxesi... →

SA prepares to roll out new ID smart cards

19th July 2013 It would take between six and eight years for all South Africans to get smart identification document (ID) cards, which would replace green ID books, Home Affairs Minister Naledi Pandor said earlier this month, when she introduced the first stages of the implementation of the new cards. “We will... →

New water resources strategy published amid new challenges

19th July 2013 Water and Environmental Affairs Minister Edna Molewa has launched the final version of the Second National Water Resources Strategy (NWRS2), following Cabinet’s approval of the plan in early July. The draft NWRS2 was published in the Government Gazette for public comment in September last year... →

Bristow calls for cooperation between governments, miners amid tumbling gold price

19th July 2013 JOHANNESBURG (miningweekly.com) – The falling gold price in recent months has emphasised the need for governments of mineral-rich countries to cooperate with mining companies in the optimal development of their resources, Randgold Resources CEO Mark Bristow has urged. At the end of June, the gold... →

Management of construction firms in collusion case express regret

18th July 2013 Construction firm Wilson Bayly Holmes-Ovcon (WBHO) CEO Louwtjie Nel on Thursday said the company accepts responsibility for its actions with regard to collusive tendering, but emphasised that this was something of the past. He was speaking during Competition Tribunal hearings in Pretoria where... →

Tribunal confirms Telkom, CompCom settlement

18th July 2013 The Competition Tribunal on Thursday confirmed the settlement agreement reached between telecommunications group Telkom and the Competition Commission. Telkom admitted to anticompetitive behaviour and agreed to pay a fine of R200-million over three years. →

Tribunal rejects Salga, Gauteng govt applications to intervene in construction hearings

17th July 2013 The Competition Tribunal on Wednesday dismissed applications by the South African Local Government Association (Salga) and the Gauteng provincial government to intervene in the hearings of the settlement agreements between the Competition Commission and 15 construction firms, which have admitted... →

Telkom, Competition Commission settlement a 'turning point'

17th July 2013 The settlement agreement between Telkom and the Competition Commission represented a “turning point” in how the telecoms group would engage with the commission going forward, Telkom's legal representative Paul Coetser said Wednesday. "It will introduce heightened corporate governance, which will... →

EPA negotiations to be focus point at SA–EU Summit – Davies

16th July 2013 Trade and Industry Minister Dr Rob Davies on Tuesday said the negotiations regarding the Economic Partnership Agreement (EPA) between the European Union (EU) and the African, Caribbean and Pacific Group of States (ACP) would be one of the focus points at this year’s South Africa–EU Summit, to be... →

Oger Telecom invests additional R3.5bn in Cell C

16th July 2013 Mobile operator Cell C on Tuesday received a $350-million (R3.5-billion) equity investment from its majority shareholder Oger Telecom and announced that it had concluded a long-term financing package of R2.2-billion with key lenders, including Nedbank and the Development Bank of Southern Africa.... →

Mwana’s BNC considering new mine plans to improve cash flow

16th July 2013 Aim-listed Mwana Africa’s 76.5%-owned Bindura Nickel Corporation (BNC) mining operation, in Zimbabwe, is examining alternative mine plans with the objective of improving short-term cash flow and reducing its funding requirement. Mwana Africa said on Tuesday that BNC’s new mine plans would use the... →

Firestone raises $6m for diamond mine in Lesotho

16th July 2013 Aim-listed Firestone Diamonds on Tuesday announced a share placing to raise about $6-million (£3.97-million) before expenses, which would be used for, among others, working capital at the company's flagship Liqhobong diamond mine, in Lesotho. The group owns a 75% interest in Liqhobong, with the... →

Gold producers table 4% opening offer

15th July 2013 Gold producers engaged in this year’s centralised wage negotiations on Monday tabled their opening offer, proposing a 4% increase in basic pay and a 4% increase in the living-out or housing allowance, which was notably below union demands. Negotiations between gold producers, represented by the... →

Pickstone-Peerless DFS completed

15th July 2013 Aim-listed African Consolidated Resources (AFCR) on Monday said the definitive feasibility study (DFS) on the initial phase of its 3.2-million-ounce Pickstone-Peerless gold project, in Zimbabwe, had been completed on time and within budget, with a maiden reserve of 136 000 oz at 2.06 g/t having... →

Kentz awarded $38m Nacala corridor contract

12th July 2013 Corredor Logistico Integrado de Nacala (CLIN) has awarded Kentz Engineers and Constructors the $38-million contract to build the Nacala corridor project, in northern Mozambique. CLIN is a joint venture between Vale Moçambique and Mozambique’s port and railways authority, Portos e Caminhos de... →

Ruukki commissions Limpopo chrome mine

12th July 2013 London-listed Ruukki Group on Friday said its Mecklenburg chrome mine, in Limpopo, had been fully commissioned. The Mecklenburg mining right is held by Ruukki’s 37.74%-owned subsidiary Chromex Mining Company and was valid until June 2018. →

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Newsletters

Sign up for our FREE daily email newsletter

Receive daily sector news alerts

More

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options

Subscribe