27 Nov 2012

Mining

 



Let's support the little guy

Not only large corporates need to engage in CSI / CSR, says MD of PR Worx, Madelain Roscher, SMEs need to get involved as well. According to Roscher, companies will see benefits in terms of brand recognition, increased sales, return on investment (ROI), tax benefits, and, most importantly, fostering trust with employees and the general public - all that while contributing to a greater good... What are you waiting for?!

Remember the ladies in orange at the 2010 FIFA World Cup who were accused of ambushing marketing for Bavaria? Well, Trade and Industry Minister Rob Davies has warned that he'll be having none of that during AFCON 2013. Davies plans to designate the sporting event as a "protected event" to ensure stringent advertising laws are enforced.

Former MTN CEO Phuthuma Nhleko is a wanted man - wanted by Anglo American that is, to take the helm. While chairman John Parker sings his praises, a London-based mining analyst doesn't believe him to be the right man for the job, citing lack of operational mining experience.

It's not often that the big guy lends a helping hand to the little start-up, but here's a little heart-warmer for you; as part of its Enterprise Development Initiative, Cape Town's Protea Hotel Victoria Junction has signed a "twinning" agreement with a local guest house in Thornton. In order to help the guest house owner, Khanyisa Balfour, put her best foot forward and realise her life-long ambition, the Protea Hotel Victoria Junction management team will provide expertise and training to the guest house owner.

Let's all put our best foot forward into what's left of 2012!

Sindy Peters: Group Head, Content

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Mining


Anglo board shortlists former MTN CEO
According to BDLive, Phuthuma Nhleko, ex MTN CEO is one of the front-runners to take over the reins at Anglo American. Read more >>

Collectively, Amplats‚ Kumba and Exxaro lose R40b in market value
Independent Online reports that according to a report from professional services firm PwC, a tough year lies ahead for the mining industry in the wake of recent industrial action‚ mounting cost pressure and shrinking profit margins. While the 2009-2011 period was characterised by a recovery in overall commodity prices from the lows of the 2008 financial crisis‚ the reports says, 2012 saw a slowdown in this recovery with gold the only commodity gaining value. Read more >>

Industrial unrest in mines may affect Eskom's yearly results
According to Allafrica.com, Eskom has announced that its profits for the six-month period beginning on April 1 and ending 30 September 2012 dropped to R12.6 billion from R12.8 billion a year ago. Read more >>

Anglo American to contribute towards Transformation Indaba
Anglo American's commitment to concerted transformation, both within its own business and within broader South African society, has resulted in the company supporting the 2012 Transformation Indaba. Read more >>

Obligation to rezone land and its impact on mining and prospecting rights in SA
[Jennifer de Vos] The necessity to rezone land for mining or prospecting purposes has been confirmed by a series of recent judgements. If this obligation is ignored by holders of mining rights, mining permits or prospecting rights, it could have severe consequences for the holder, such as the forced legal closure of operations by municipal authorities or other affected persons, including local communities. Read more >>

91% support for Lonmin's balance recovery
According to mineWeb, shareholders in South African platinum miner Lonmin voted in favour of an $817m rights issue to repair the platinum miner's strike-battered balance sheet and fund its recovery. Read more >>

Health & safety


Two dead, one injured in Kusasalethu union turf war
Harmony Gold said on Friday that operations at its Kusasalethu mine have not been affected by recent clashes between rival unions in which two miners were killed and a third injured, The New Age reports. Read more >>

Mines


Miners face retrenchment
[Paul Vecchiatto] The mining industry will retrench thousands‚ possibly as many as 10‚000 people or more in the first quarter of next year‚ says Chamber of Mines chief executive Bheki Sibiya. Read more >>

First manganese railed from Tshipi
Tshipi announced on Thursday (22 November) that it has mined‚ loaded and railed its first manganese to Port Elizabeth from its new R1.7bn manganese mine near Kathu in the Northern Cape. Read more >>

Mining services


Barloworld operating profit up by 31%
Barloworld yesterday (20 November) delivered "a very pleasing result" for the year ended September, with operating profit up 31% and headline earnings per share increasing by 46%. Read more >>


International
Sierra Leone's Koroma promises jobs
FREETOWN, SIERRA LEONE: Sierra Leone's President Ernest Koroma vowed to transform the fortunes of the war-scarred nation with more jobs and development after his convincing re-election victory. Read more >>

Coal rich Mozambique plans USD12bn rail, ports upgrade
MAPUTO, MOZAMBIQUE: Mozambique plans US$12bn schemes to overhaul its dilapidated railways and upgrade ports to boost exports from one of the world's largest untapped coal fields, an official said on Wednesday (21 November). Read more >>

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