4 Dec 2012

Mining

 



Labour unrest: SA faces decisive choices

Agri SA says that the choices on labour unrest will be decisive for South Africa. It says in a statement that it is evident that the wage and related challenges are not exclusively, but mainly that of seasonal workers who have to earn their annual income over a period of a few months.

On the education front, something really needs to be done to jack up our education system after the latest results show that maths and science skills remain poor, with grade nine pupils recording a dismal average score of 12.7% in mathematics and 35% in first additional language in the Department of Basic Education's second annual national assessments of pupils' mathematics and literacy abilities.

Such results will have a massive impact on school-leavers' ability to find employment.

On the tourism front, Chris Moerdyk asks: Is SA being priced out of the tourist market? As comments on the article seem to have it, the answer could be a big "Yes!" and remember, once tourists have been ripped off - or feel they have been ripped off - they will never come back, and they will tell everyone they know.

Finally, Amelia Jones reckons that the proposed BEE amendments are nonsensical, immoral and counter-productive and will hamper social development efforts in the Western Cape and elsewhere.

Rod Baker: Content Director

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Editorial news

Mining


Trendsetting Gold Fields unbundling may set the tone for other miners
According to BDLive, Gold Fields' unbundling of a large portion of its local assets could start a wave of similar actions by mining companies in a bid to ring-fence their local operations and keep investors happy. In one of the strongest votes of no-confidence in domestic investment to date, Gold Fields formed Sibanye Gold - a new gold company, into which it will spin off its old deep-level, narrow-vein underground operations Beatrix and KDC. Read more >>

Well prepared Harmony brushes aside doom and gloom predictions
Brushing aside comments from Gold Fields that the sector could be in serious trouble in five years' time if changes are not made to the way South African mines are operated, Harmony Gold CEO Graham Briggs said on Wednesday that Harmony has gone through a restructuring and investment process to line its mines up for growth over the next five years, BDLive reports. Read more >>

Holland: unreformed, SA gold industry will be gone by 2017
After lowering their production forecast for this year by 200,000oz due to wildcat strikes, a fire and operational problems, Gold Fields executives warned the gold industry in South Africa will no longer exist in five years if conditions stay the same, BDLive reports. Read more >>

Anglo should examine Gold Fields' spin-offs
According to BDLive's Ron Derby, miners looking to reduce their exposure to South Africa's mining industry may follow the example set by Gold Fields, who decided to spin off part of its local business. As of February 2012, Gold Fields will have shed about 90% of its current South African work-force without sending out a single retrenchment notice and with possibly no strike action. Read more >>

First production from Continental Coal's Penumbra mine
Menafn.com website reports that South African thermal coal producer Continental Coal has achieved first production from Penumbra - the company's third operating - and its first underground - coal mine. Read more >>

Mines


Sibanye, Gold One may co-operate
[Allan Seccombe] Gold One is highly likely to crop up in the future of new gold group‚ Sibanye Gold‚ created by Gold Fields spinning off two of its mines. Read more >>


International
Marange monitoring to end
WASHINGTON, USA: A UN-mandated global watchdog on Friday (30 November) agreed to end year-long monitoring controls on Zimbabwe's diamond trade, after it found the government had allayed concerns over its Marange mines. Read more >>

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