Leandi Kolver

https://staging1.creamermedia.com/

Leandi Kolver

Leandi Kolver is Creamer Media Deputy Editor Features for Engineering News and Mining Weekly.

Tel: +2711 622 3744

Email: newsdesk@engineeringnews.co.za

BCX reports higher full-year profit

18th November 2014 JSE-listed Business Connexion (BCX) on Tuesday reported a profit of R301-million for the financial year ended August 31, up from R233-million in the prior financial year. This translated into an increase in diluted earnings a share, from 44.5c in 2013, to 64.5c for the 2014 financial year. →

Eskom UCG commercialisation date ‘slips’ amid permitting delays

18th November 2014 State-owned power utility Eskom was no longer targeting 2017 for the commercialisation of underground coal gasification (UCG) at its Majuba power station, in Mpumalanga, owing to delays in receiving regulatory approvals. The utility said in October last year that it would start work on a... →

Gulfstream, Tipublox create new company to deliver Transnet fuel

17th November 2014 Petroleum products supplier Gulfstream Energy and independent wholesaler Tipublox Petroleum have formed a new company G&T Tsela to focus on logistics within the South African fuel industry. Gulfstream noted that, as one of the nine companies collectively awarded a R15.5-billion five-year fuel... →

Mining equipment market recovery expected from 2016 onwards – Barloworld

17th November 2014 JSE-listed Barloworld delivered a solid performance in the year ended September 30, with headline earnings a share from continuing operations having increased by 10% to 857c, CE Clive Thomson reported on Monday. Baloworld’s operating profit increased by 16% to R3.83-billion, while revenue was up... →

Photo by Duane Daws
Barloworld CE Clive Thomson

International sugar price still depressed – Imara

14th November 2014 The international sugar price remained depressed over the past year, with high month-on-month volatility, Imara Africa Securities (IAS) said in its 2014 sub-Saharan Africa (SSA) Sugar Sector Report, which was released on Friday. IAS stated that, as at the end of August, the sugar price was... →

Atlatsa delivers record Q3 performance

14th November 2014 Platinum miner Atlatsa Resources achieved record quarterly performance in the three months ended September 30, narrowing its net loss by 96.4% year-on-year to C$560 000 from C$15.45-million in the quarter ended September 2013. Atlatsa CEO Harold Motaung said this performance was driven by higher... →

Anglo Zimele countrywide roadshow to launch November 19

14th November 2014 Mining major Anglo American’s enterprise development arm Zimele would, next week, launch the first leg of its countrywide roadshow aimed at showcasing the Zimele Sebenza Fund, which provided equity and loan financing at preferential rates of up to 6% a year to economically viable entrepreneurs... →

Anglo American Zimele MD Hlonela Lupuwana

Sisulu presses Transnet for pledge of unused land for housing developments

14th November 2014 Human Settlements Minister Lindiwe Sisulu on Friday at a business breakfast, in Sandton, put pressure on State-owned freight and logistics company Transnet to pledge its unused land to be transferred to government for housing development. “Perhaps we will have a pledge here that any land they are... →

Photo by Duane Daws
Human Settlements Minister Lindiwe Sisulu

‘Giant Flag’ construction to start next year

14th November 2014 Construction of the R170-million Giant Flag project, in the Camdeboo municipal area of the Karoo, is scheduled to start early next year, creating more than 700 jobs in the area. The 66 ha South African flag would be made up of 2.5-million coloured succulents and a 4 MW solar field. The novelty... →

Affordability, cooperation key to housing development

14th November 2014 Affordability was the key issue facing South Africa in terms of human settlements and housing development, South African Affordable Residential Developers Association committee member and Basil Read Developments MD Yusuf Patel said on Friday. Speaking at the Banking Association South Africa’s... →

Sanral commits to enviro-friendly development

14th November 2014 The South African National Roads Agency Limited (Sanral) is committed to environment-friendly development but is faced with a number of challenges, which it is striving to overcome through various initiatives. →

First Parkhurst homes go live on Vumatel fibre-to-the-home network

14th November 2014 Telecommunications start-up Vumatel announced late last month that the first homes in Parkhurst, Johannesburg, had gone live on its fibre-to-the-home (FTTH) network, providing residents with connection speeds of up to 1 Gb/s. The Vumatel network provided fibre to homes on an open-access basis,... →

Time for Africa to increase its contribution to space economy

14th November 2014 The African continent had to move away from being a “client” in terms of accessing scientific information to rather having customers coming to the continent to access its information, Science and Technology Minister Naledi Pandor said on Monday. Speaking at the opening of the tenth African... →

Wescoal to be a vastly different company by end of FY, H1 profit up

14th November 2014 JOHANNESBURG (miningweekly.com) – Junior coal miner and supplier Wescoal would be a vastly different company at the end of the current financial year as new developments came on stream, Wescoal CEO Andre Boje said on Tuesday during a presentation on the company’s results for the six months ended... →

Harmony narrows Q1 2015 loss

14th November 2014 JOHANNESBURG (miningweekly.com) – Gold miner Harmony Gold narrowed its losses by 78% quarter-on-quarter to R226-million, on the back of higher production, in the first quarter of the company's 2015 financial year, ended September 30. The company’s output increased 6% quarter-on-quarter to 303 341... →

$70m investment to increase Blanket mine’s output by up to 75 000 oz by 2021

14th November 2014 JOHANNESBURG (miningweekly.com) – Increased investment in triple-listed Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, as set out in the mine’s revised plan, was expected to give rise to yearly production from inferred resources of about 70 000 oz to 75 000 oz by 2021, the company said... →

Solidarity, NUM sign agreements with Sibanye to soften job cuts

13th November 2014 Trade union Solidarity on Thursday announced that it had signed a cooperation agreement with gold producer Sibanye Gold to limit the impact of job cuts at the company’s Cooke 4 shaft, on the West Rand. The agreement, in terms of which the company undertook to implement various measures and... →

Stellar targeting 2 000 ct/m from Baoulé in 2015

13th November 2014 Aim-listed Stellar Diamonds aims to increase its production at its Baoulé kimberlite project, in Guinea, to 2 000 ct/m during 2015, Stellar CE Karl Smithson said on Thursday. He noted that the company had managed to establish a trial mining operation at Baoulé over a short period, with the... →

Ipsa CEO dies

13th November 2014 Independent power producer Ipsa on Thursday announced the sudden death of its CEO Phil Metcalf. Ipsa said former CEO Peter Earl had agreed to take on the role of acting CEO in the interim. →

Caledonia Q3 profit down on lower Blanket production

13th November 2014 TSX- and Aim-listed Caledonia Mining on Thursday reported reduced profit for the three months and nine months ended September 30 on the back of lower-than-expected gold production at its Blanket gold mine, in Zimbabwe. Caledonia reported a net profit of C$1.1-million for the quarter ended... →

Amec, Foster Wheeler merge to create £5.5bn company

13th November 2014 Engineering and project management company Amec has completed its merger with Switzerland-headquartered global engineering and construction company and power equipment supplier Foster Wheeler. The newly created company, called Amec Foster Wheeler, had an annualised scope revenue of £5.5-billion... →

Photo by Amec Foster Wheeler
Amec Foster Wheeler CEO Samir Brikho

Stefanutti confident about collusion case, reports improved H1 performance

13th November 2014 JSE-listed construction company Stefanutti Stocks was confident that it would suffer no further financial exposure as a result of the Competition Commission’s case of collusive tendering that has now been referred to the Competition Tribunal, with CEO Willie Meyburgh stating on Thursday that the... →

September mining production up 5.3%

13th November 2014 South African mining production increased by 5.3% year-on-year in September, the latest data from Statistics South Africa (Stats SA) has shown. Stats SA on Thursday said the main contributors to the increase were iron-ore, which showed the highest positive production growth rate of 38.3% and... →

Dipula grows distributable income, outperforms guidance

12th November 2014 Real estate investment trust Dipula Income Fund increased its distributable earnings by 16% year-on-year to R249.12-million during the year ended August 31, translating into a 7.2% growth in distributions a unit, exceeding management’s guidance of between 6% and 7%. Dipula’s total distribution... →

Dipula Income Fund CEO Izak Petersen

Construction starts on 4.5 MW FS hydropower plant, Aurecon awarded EPCM contract

12th November 2014 Construction has started on the 4.5 MW Stortemelk hydropower plant, in the Free State, with engineering, management and specialist technical services company Aurecon having been appointed as the engineering, procurement and construction management (EPCM) services provider for the implementation... →

Eskom says Westinghouse withdraws urgent High Court application

12th November 2014 Power utility Eskom on Tuesday said Westinghouse Electric Belgium had withdrawn its urgent High Court application, which charged the utility with contempt of court, owing to what it said was Eskom’s failure to deliver documentation, as ordered by the court, to Westinghouse within five calendar... →

Photo by Duane Daws
Koeberg power station

Centamin Q3 gold production up 15%

12th November 2014 Dual-listed Centamin increased its gold production by 15% quarter-on-quarter and 10% year-on-year to 93 624 oz in the three months ended September 30. "The ramp-up in productivity from the process plant [at the Sukari mine, in Egypt] continued during the quarter, and achieved the expanded... →

Sukari gold mine

BCX expects higher full-year EPS, lower HEPS

12th November 2014 JSE-listed Business Connexion (BCX) on Tuesday said it expected its earnings per share (EPS) for the year ended August 31, to be between 38.7% and 49.9% higher than that of the prior year. Headline earnings per share (HEPS) were, however, expected to be between 21.1% and 35.7% lower than the HEPS... →

Platinum exchange could benefit SA economy, advance beneficiation objectives

11th November 2014 If South Africa was serious about platinum beneficiation it had no choice but to put in place a platinum exchange, investment company Pan-African Capital Holdings CE Dr Iraj Abedian said on Tuesday. Speaking at a workshop convened by the Mapungubwe Institute for Strategic Reflection (Mistra),... →

Arrowhead reports 17.9% full-year distribution growth

10th November 2014 JSE-listed real estate investment trust (REIT) Arrowhead Properties achieved distribution growth of 17.9% to 113.24c per combined A and B unit for the financial year ended September 30. Arrowhead’s revenue, excluding straight line rental income, also increased from R423.25-million at the end of... →

Nedbank takes stake in R450m Alberton value centre

10th November 2014 Banking group Nedbank’s corporate property finance division has entered into a partnership with Rejem Property Development and Moolman group company Style Star Investments for the development of the R450-million Newmarket Value Centre, in Alberton. Nedbank’s corporate property finance division,... →

Artists impression of Newmarket Value Centre

Firestone raises $5m for Waterberg coal project development

10th November 2014 Coal developer Firestone Energy on Monday announced that it had raised $5-million through the issue of convertible notes to advance the development of its Waterberg coal project, in Limpopo. The funds, to be provided by Four Oaks Credit Fund, were proposed to be drawn down over two tranches of... →

Rukwa power plant PFS to be completed early Dec

10th November 2014 The prefeasibility study (PFS) for Tanzania-focused Kibo Mining’s planned 300 MW power plant at its Rukwa coal-to-power project (RCPP), in Tanzania, would start immediately, with the full study to be completed early next month, the company announced on Monday. Kibo CEO Louis Coetzee said that,... →

Vodacom H1 HEPS down 5.5%, medium-term Ebitda guidance revised downwards

10th November 2014 Telecommunications group Vodacom on Monday reported a 5.5% decline in headline earnings a share to 415c for the six months ended September 30, mainly owing to the mobile termination rate (MTR) cuts, as well as increased depreciation as a result of accelerated capital investments. Vodacom’s... →

Photo by Duane Daws
Vodacom CEO Shameel Joosub

ABG shareholders to vote on name change

10th November 2014 Gold miner African Barrick Gold (ABG) has scheduled a general meeting for November 26 during which shareholders would consider and potentially approve changing the company’s name to Acacia Mining. ABG stated that its core objective was to develop a business that was recognised as a leading... →

Transnet advances railway safety with new technology

7th November 2014 Freight and logistics company Transnet on Friday unveiled its new automated, level-crossing traffic-control mechanism, which would improve railway safety by making it impossible for a vehicle to go through a level crossing when a train was approaching. The system, which had already been installed... →

Richards Bay, Dube TradePort IDZs on growth path

7th November 2014 The Richards Bay industrial development zone (IDZ) and the Dube TradePort IDZ, which was opened last month, were steadily expanding and growing support for KwaZulu-Natal’s manufacturing sector. Speaking to Engineering News Online following a Frontier Forum on the topic ‘Special Economic Zones and... →

PPC vote set for Dec 8, company maintains Gordhan should not be reinstated

7th November 2014 Cement producer PPC would has set December 8 for holding a general meeting to consider the proposed removal of the entire board of the company, as well as the proposed election to the board of certain other persons. The company had resolved to convene the meeting following a requisition from... →

Former PPC CEO Ketso Gordhan

Mining starts as Tschudi project remains on track to deliver first copper in Q2 2015

7th November 2014 Mining has started at Aim-listed Weatherly International’s Tschudi copper project, in Namibia, with the project on track to produce its first copper in the second quarter of next year. “In recent weeks, we have continued to make significant advances with the development of the plant, especially... →

Gestamp Wind remains committed to South Africa

7th November 2014 European wind energy company Gestamp Wind still had strong confidence in the South African Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) despite tender process delays, CEO Dionisio Fernandez said on Thursday. He said the group was continuing to invest in the country,... →

Foster Wheeler completes acquisition of MDM Engineering

7th November 2014 Global engineering and construction company Foster Wheeler announced earlier this month that an indirect wholly owned subsidiary of the company had completed its acquisition of metallurgical engineering company MDM Engineering. →

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