30 Oct 2012

Mining

 



e-toll uncertainty - we can't stand it either

Minister of Finance Pravin Gordhan has said that the fiscus can't sustain the uncertainties around e-tolls. Well, a great many motorists and companies are also uncertain of what impact e-tolling is going to have on their monthly costs. After much to-ing and fro-ing, the monthly bill was capped at R550 per month for light vehicles, but in this report, Gordhan is reported as saying "statistics derived from the gantries on the highway showed that people would not be paying more‚ on average‚ than R150 or R100 a month. He said inflated numbers were being put out to the public." Clear as mud?

These tolls are going to impact on every one of us, everywhere in the country, because every company based in Gauteng, having operations in or through Gauteng or dealing with any such company, will face increased costs. And guess who will have to pay...

On the mobile front, Lax Faure discusses the technology tsunami... No other development in the history of the world has caused so much change, in such a short time period, he writes.

Food-crop improvement by conventional plant breeding, without resorting to GMO (Genetically Modified Organism) technology, is the goal of the African Centre for Crop Improvement (ACCI) and its work has borne fruit and African farmers can now select seeds for their needs.

Thinking of travelling to the US? Think again... Travel chaos is looming as the US cancels flights thanks to Cyclone Sandy. Air France, British Airways, Virgin and other European airlines cancelled all flights into New York, Baltimore, Washington, Boston and Philadelphia on Monday, while US airlines called off thousands of domestic flights and diverted planes away from Sandy's path. There is likely to be a knock-on effect, so check with your travel agent or airline if you're due to travel to the US.

Rod Baker, content director

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Mining


Labour unrest: SA Coal Holdings loses 30,000 tons of coal
According to BDlive, mineworkers represented by the National Union of Mineworkers (NUM) at South African Coal Holdings's Umlabu colliery in Mpumalanga went on a protected strike following a wage dispute. Read more >>

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HMC Seswa lands Mineworkers Investment Trust
HMC Seswa Corporate Communications has been appointed to handle the marketing and communications of the Mineworkers Investment Trust (MIT). The National Union of Mineworkers established MIT in 1995, as a wealth-creating entity to assist retrenched workers and empower union members. Read more >>

'It's all quiet there' - Gold Fields spokesman says
Mineweb reports that there were no further developments or reported incidents relating to recent wildcat strikes which have swept across South Africa's mining sector. "... we're obviously hoping all the workers, including those from KDC East, will go back to work," said Gold Fields spokesman Sven Lunsche, adding that both KDC West and Beatrix mines are working again and that "it's all quiet there." Read more >>

Investors support Friedland's bullish plans for SA's Ivanplats
According to The New Age, persistent rumours that local exploration and development company Ivanplats is planning to build the world's biggest platinum mine in South Africa may be true - after Ivanplats listed in Toronto last week, raising more than Can$300m and achieving a market value of about Can$2.5bn (R21.7bn). Read more >>

Mines


Marikana has dented confidence in SA
The Marikana shooting in August and the industrial action which has followed in its wake, have dented confidence and lowered growth prospects for the remainder of the year, the Minister of Finance Pravin Gordhan said. Read more >>

Amplats loses R1bn in output, cuts 2012 budget by R800m
BDlive Online reports that Anglo American Platinum (Amplats) has lost 138,000oz, worth over R1bn, in production, and has scaled down capital expenditure plans for this year by a further R800m, due to the continuing strike at its mines. On Thursday, the Treasury said that wildcat strikes at platinum and gold mines have cost South Africa R10bn, more than the R8.7bn spent on basic education in the 2010-11 financial year. Read more >>

When the call comes... Pick up
[Marion Scher] The phone call that no CEO wants to get is the one with the name Carte Blanche attached to it. Immediately the antennae go up - why do they want to talk to us? What do they know we don't? Read more >>


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