Natalie Greve

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Natalie Greve

Natalie Greve is Creamer Media Senior Contributing Editor Online for Engineering News and Mining Weekly.

Tel: +2711 622 3744

Email: natalie@engineeringnews.co.za

African Potash secures 4.74% slice in mining investor Blenheim

17th December 2015 Aim-listed exploration company African Potash has subscribed for 8.75-million ordinary shares at a price of 0.8 pence per ordinary share in the enlarged share capital of Blenheim Natural Resources, securing a 4.74% stake in the mining investment group. As part of this placing, African Potash... →

Sentula looks to market to raise R105.58m

17th December 2015 Diversified miner Sentula has announced its intention to raise R105.58-million through a partially underwritten rights offer of 586.5-million shares. This came amid discussions with its existing lenders with a view to concluding a debt restructuring agreement. →

New Resgen board reviews Boikarabelo architecture

17th December 2015 Following a successful board spill by three major shareholders last month, dual-listed Resource Generation (Resgen) says its new executive management and board, which included a new chairperson, deputy chairperson, interim CEO and company secretary, have reviewed the project architecture of the... →

DiamondCorp kicks off diamond production at Lace mine

17th December 2015 Southern African diamond mining, development and exploration company DiamondCorp has started production ramp-up from the Upper K4 Block (UK4) of its Lace diamond mine, in the Free State. The first UK4 production would be recovered from the 310-m level, where the slot was being opened up to the... →

Jubilee inks deal with Hernic Ferrochrome to process tailings

15th December 2015 Mine-to-Metals company Jubilee has executed a cooperation agreement with Hernic Ferrochrome on the processing of the platinum-containing surface chrome tailings currently stockpiled and generated by Hernic, in the North West, to produce chromite and platinum-group metals (PGM) concentrate. The... →

Africa’s colonial history has disadvantaged its ability to trade, Davies asserts

15th December 2015 Africa’s integration into international markets has been largely dictated by the continent’s history of colonialism, having been drawn into the world economy as producers and exporters of primary products, mineral commodity or agricultural commodity, Trade and Industry Minister Dr Rob Davies has... →

Weatherly updates Tschudi copper ore reserves to 24.4Mt

15th December 2015 London-listed Weatherly International has announced updated ore reserves of 24.4-million tons at 0.85% copper for 214 000 t of contained copper metal after mining depletion of 8 000 t at its Tschudi mine, in northern Namibia. This represented an increase over the revious reserve estimate of 215... →

Hummingbird lifts probable reserves at Yanfolila

15th December 2015 Aim-listed Hummingbird Resources has announced gross maiden probable reserves of 6.82-million tons @ 3.03 g/t for 665 600 oz of gold at its Yanfolila project, in Mali – an increase of 118 600 oz of gold from the in-pit mineral resource inventory reported in the March optimisation study mine plan.... →

Zuma signs new infrastructure crime prevention Act into law

15th December 2015 President Jacob Zuma has signed into law the Criminal Matters Amendment Act, which is intended to help to curb infrastructure-related crimes, government’s online news service reported on Tuesday. The act amends the Criminal Procedure Act of 1977 and would see the introduction of harsher... →

70% of S Africans concerned about possible social, economic collapse – poll

15th December 2015 A mobile survey conducted by information and consultancy group TNS on December 11 – following President Jacob Zuma’s axing of Finance Minister, Nhlanhla Nene – has revealed that 70% of those polled were concerned that South Africa was heading for a social and economic collapse. The results of the... →

Balwin to acquire Waterfall Kyalami development rights for R1.5bn

15th December 2015 Residential property builder Balwin has concluded a nonbinding conditional agreement with Portimix that will see it acquiring development rights for 232.8 ha in Johannesburg’s Kyalami Waterfall node for some R1.5-billion. Development rights were expected to be developed over an 8- to 10-year... →

Lucara terminates share purchase deal with Paragon

15th December 2015 Aim-listed Paragon Diamonds has received a notice of termination for its share purchase agreement with the Lucara Diamond Corporation with regards to the acquisition of the Mothae kimberlite resource, in Lesotho. Paragon said on Tuesday that it maintained the view that the development of Mothae... →

Public hearings on Eskom tariff hike application set for January

15th December 2015 Public hearings on energy utility Eskom’s Regulatory Clearing Account (RCA) application for the first year of the third multiyear price determination (MYPD 3) will take place between January 19 and February 4, 2016, after which the National Energy Regulator of South Africa (Nersa) will announce... →

Diamond producers may need to cut prices to boost demand – Moody’s

15th December 2015 Diamond producers may have to cut prices further to revive dampened demand, with rough diamond prices likely to remain under pressure over the next 12 to 18 months, Moody’s Investor Services noted in a sector paper on Tuesday. Prices dropped by about 18% during the first eleven months of 2015... →

Investments, concessions cluster expected to boost Group Five’s interim showing

15th December 2015 A weaker-than-expected performance by construction major Group Five’s engineering and construction division has been offset by an improved performance by its investments and concessions cluster, with underlying projects continuing to deliver strong operating results, the company said on Tuesday.... →

Aquarius shareholders to vote on Sibanye deal in January

15th December 2015 Aquarius Platinum will this week distribute to shareholders information related to the proposed acquisition of Aquarius by Sibanye Gold for a cash consideration of $0.195 a share. The transaction, which was to be implemented by way of an amalgamation under Bermuda law, needed to be approved by a... →

Fitch questions S Africa’s economic policy following Finance Minister debacle

15th December 2015 The replacement of a second Finance Minister in South Africa within five days has not enhanced confidence in government effectiveness and leaves questions over the direction of economic policy, Fitch Ratings cautioned in a statement on Tuesday. In this context, the agency held that February's... →

Black business calls on Gordhan to rework ‘disabling’ procurement policy

15th December 2015 The Black Business Council (BBC) has called on newly reappointed Finance Minister Pravin Gordhan to ensure that the Preferential Procurement Policy Framework Act (PPPFA), which it views as a disabler to transformation, is replaced with a more suitable instrument. “Minister Gordhan is an... →

#ZumaMustFall protest planned for Joburg

14th December 2015 In a bid to mobilise popular opinion in favour of ousting President Jacob Zuma, who has come under fire in recent days for a series of controversial Cabinet hirings and firings, the Unite Against Corruption (UAC) campaign has confirmed that it will hold a #ZumaMustFall protest along... →

Gordhan's statement following reappointment

14th December 2015 I return to a portfolio that was assigned to me for five years between 2009 and 2014. I have been associated with the 'finance family' for almost two decades. I am relatively familiar with the terrain and its challenges. The facts about the developments that took place last week and the response... →

Photo by Duane Daws
Pravin Gordhan

AMSA CEO resigns, but to stay on as nonexecutive director

14th December 2015 ArcelorMittal South Africa (AMSA) CEO and executive director Paul O’Flaherty has resigned, citing a wish to “pursue other interests”. He would step down after the announcement of the 2015 year-end results on February 12, 2016, after which he would be appointed as a nonexecutive director, with... →

Photo by Duane Daws
Paul O’Flaherty

Muthambi readies for delivery of first digital terrestrial set-top boxes

14th December 2015 As part of the Broadcasting Digital Migration project, Communications Minister Faith Muthambi will, on Thursday, deliver the first batch of government-subsidised set-top boxes (STB’s) to the community of Keimoes, in the Kai Garib Municipality, in the Northern Cape. Keimoes is located within the... →

Fitch downgrades Eskom’s default rating to ‘BBB’

14th December 2015 Ratings agency Fitch has downgraded South African utility Eskom’s long-term local currency issuer default rating (IDR) to 'BBB' from 'BBB+', reflecting the recent downgrade of South Africa's long-term local currency IDR to 'BBB.' This as the company said it continued to consider the links between... →

PIC snaps up unsold shares in Lonmin to secure 29.99% stake

14th December 2015 Delivering the beleaguered platinum miner a market lifeline, the Public Investment Corporation of South Africa has taken up the unsold shares offered under Lonmin’s Friday rights issue, leaving the pension fund a 29.99% shareholder in the company. Dual-listed Lonmin’s shares were trading lower on... →

Zuma lauds S African contribution to COP21 treaty

14th December 2015 President Jacob Zuma has congratulated the delegation representing South Africa at the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) in France, following the adoption of the new Paris Agreement on climate change. Late on Saturday evening,... →

Tshipi to slash manganese exports, labour force amid depressed market

14th December 2015 Tshipi é Ntle Manganese Mining will reduce exports over the the next three months by at least 35%, and by 30% in 2016, and has also started with a restructuring process that could see it cutting its workforce by up to 60%, it said on Monday. The company noted in a statement that it sought to... →

West African Resources raises $2.1m through share placement

14th December 2015 Gold developer West African Resources (WAF) has completed a capital raising of $2.1-million to accelerate the development of high-grade oxide mineralisation at the M1 and M3 prospect, at its 100%-owned Tanlouka gold project, in Burkina Faso. The capital-raising received support from major... →

Hulamin, Nampak ink new supply deal

14th December 2015 Aluminium supplier Hulamin has agreed terms with Nampak for the supply of some 110 000 t of rolled aluminium can end, can body and can tab stock over a three-year period, starting in April next year. The previous supply agreement totalled about 50 000 t and terminated in March 2016. The new... →

High-grade gold mineralisation confirmed at Sula’s Sierra Leone play

14th December 2015 A recent drilling campaign at multicommodity exploration company Sula Iron & Gold’s Sierra Leone-based Ferensola gold project has intersected high-grade gold mineralisation, the company said on Monday. One drill hole returned assay results of up to 13.25 g/t of gold from four separate mineralised... →

R3bn Mozambique power station commissioned

14th December 2015 Following the successful completion of acceptance tests for its 120-MW gas-fired power plant on December 10, independent power producer Gigawatt Mozambique reports that it has successfully commissioned its power station at Ressano Garcia, on the border of South Africa and Mozambique. Financing... →

Basil Read readies for hefty FY earnings jump

11th December 2015 Construction major Basil Read expects earnings a share for the year ending December 31 to be at least 100% higher than the loss of 599.87c a share posted in the prior fiscal period. The group advised shareholders in a trading statement on Friday that headline earnings a share for the 12 months... →

Lonmin rights issue undersubscribed

11th December 2015 Dual-listed Lonmin’s shares were trading lower on the JSE and LSE on Friday morning, after it announced that its $407-million rights issue had been undersubscribed. The platinum miner had received valid acceptances in respect of 19.15-billion new shares, representing 70.93% of the total number of... →

Supreme Court of Appeal upholds Aurecon’s appeal against City of Cape Town

11th December 2015 Global engineering, management and specialist technical services group Aurecon welcomes the judgment of the Supreme Court of Appeal (SCA) of South Africa in the matter between the company and the City of Cape Town which, according to MD Albert Geldenhuys, vindicates the company from any... →

Training PPP aims to plug key technical skills gap

11th December 2015 A public–private partnership (PPP) between electronics manufacturer Samsung Electronics, the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) and the Department of Higher Education and Training is hoping to plug the skills gap in the technical... →

As drought bites, call made for new water consumption culture

11th December 2015 As South Africa battles water restrictions precipitated by the El Niño phenomenon, aged infrastructure, above-average temperatures, below-average rainfall and climate change, industry stakeholders have called for a collaborative water stewardship approach that will look to protect dwindling water... →

Makhura casts eye over work of The Innovation Hub

10th December 2015 Hoping to draw parallels between the work being done at Africa’s first accredited science and technology park and the vision of the province’s overarching Transformation, Modernisation and Reindustrialisation (TMR) strategy, Gauteng Premier David Makhura on Thursday undertook a half-day tour of... →

R1bn telecoms deal referred back to CompComm

9th December 2015 The Competition Tribunal has referred back to the Competition Commission (CompComm) the cases involving the sale of Altech Autopage’s subscriber bases to telecommunications giants MTN, Vodacom and Cell C for some R1-billion, asking the commission for further investigation, after certain concerns... →

Agri industries, food stability under threat, warns Agbiz

9th December 2015 A perfect storm of subdued local economic growth prospects, financially constrained consumers, as well as weather, policy and labour uncertainty is likely to continue to challenge farmers and agribusinesses into the new year, the Agbiz Outlook 2015 has cautioned. “In a deteriorating economic,... →

Hearing test app wins R200 000 Philips innovation prize

9th December 2015 Philips South Africa has named the hearScreen mHealth solution as the first winner of its South African Innovation Fellows Competition – an initiative it launched in August in collaboration with the Innovation Hub to unlock local talent and address regionally relevant challenges in healthcare.... →

Swanepoel de Wet

Moody’s warns of ‘deep and long’ commodity price downswing

9th December 2015 Based on its revised, weaker global growth expectations for 2016, softening demand, the strength of the dollar and continued uncertainty surrounding metal demand in China, Moody’s Investor Service expects base metals prices to remain under pressure to the downside, warning that an impending... →

Petra sells 23 ct pink diamond for $10.05m

9th December 2015 An “exceptional” 23.16 ct pink diamond uncovered at Petra Diamonds’ Williamson mine, in Tanzania, in November, has been sold into a partnership arrangement for $10.05-million, or $433 938/ct for the rough stone. Petra would also retain a 20% interest in the sales proceeds of the polished diamond,... →

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