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Death toll rises to six at South Africa coal mine gas explosion

By: News24Wire      7th February 2019 The number of people killed by a gas explosion in an unused coal mine in South Africa's eastern province of Mpumalanga has risen to six, and several others remain trapped, an official at the mine said on Thursday. The representative of the creditor protection team at the mine, Michael Elliot,... 

Project Halo stakes claim to buy Guptas' Optimum coal mines

By: Bloomberg     1st February 2019 Project Halo, a South African group that bid R3.05-billion for Tegeta Exploration & Resources' coal assets after it was placed under administration, said it expects the deal to go ahead and it’s unaware other offers will be entertained. “As things stand today we are the preferred bidder,” Project... 

Eskom should be split, experts to tell president – sources 

By: Reuters     24th January 2019 South Africa's Eskom could be split into three separate firms under proposals from experts President Cyril Ramaphosa has hired to help revive the ailing state power company, two sources familiar with the matter told Reuters. Reforming Eskom is vital to get Africa's most industrialised economy... 

Ramaphosa treads 'softly-softly' in South Africa power play 

By: Bloomberg     11th October 2018 President Cyril Ramaphosa is caught in an intricate game of political chess as he seeks to stamp his authority on the government while maintaining a semblance of party unity before elections next year. While his finance minister and political ally, Nhlanhla Nene, resigned Tuesday after lying... 

Dladla steps down as CEO of Eskom Rotek Industries

By: Creamer Media Reporter      9th October 2018 Eskom Rotek Industries CEO Johnny Dladla, who served a short stint as the group's CEO in 2017, has resigned and will leave Eskom at the end of October to "pursue private business interests".   The State-owned utility said in a statement that Dladla's successor would be announced in due course.... 

Cabinet’s approval of new Mining Charter a ‘positive’ step – law firm

By: Marleny Arnoldi     20th September 2018 Multinational law firm Herbert Smith Freehills on Thursday welcomed Cabinet’s approval of the new Mining Charter, as well as of the withdrawal of the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill, as proposed by Mineral Resources Minister Gwede Mantashe earlier this... 

CEO Initiative to support government’s investor outreach at October summit

By: Terence Creamer     18th September 2018 The CEO Initiative is putting its weight behind President Cyril Ramaphosa’s plans for increasing levels of investment and stimulating growth in the recession-afflicted South African economy. The CEO Initiative draws in business leaders from various sectors and rose to prominence during Pravin... 

Hawks investigate cases related to Gupta-loot worth more than R40bn

By: News24Wire      16th August 2018 The Hawks are investigating cases related to the Guptas' state capture project that involves more than R40 billion which has been plundered from state coffers. Lieutenant General Godfrey Lebeya presented the Hawks' progress in several cases of state capture to the Portfolio Committee on Police on... 

Ramaphosa embarks on Eskom overhaul

By: Reuters     12th July 2018 A month after Cyril Ramaphosa took the helm of South Africa's ruling African National Congress (ANC) in December, he called an urgent meeting with then-President Jacob Zuma and senior ministers to save state power firm Eskom. Ramaphosa understood sweeping changes were needed at the struggling... 

McKinsey overhauls South African office after graft scandal 

By: Reuters     9th July 2018 McKinsey has made sweeping changes to its South Africa business to try to rebuild its reputation following an ill-fated deal with friends of scandal-plagued former President Jacob Zuma. Kevin Sneader, who started as McKinsey's global managing partner last week, announced on Monday that the firm... 

Seriti Resources interested in Optimum Coal as it looks to export

By: Reuters     6th June 2018 South African miner Seriti Resources wants to move into exporting coal and would be interested in buying the assets and quotas of the Gupta family's Optimum Coal, its CEO said. Bidding for Optimum Coal would pit Seriti, which has ambitions to become a black-owned mining champion, with bigger... 

Plan for mining community development levy scrapped

By: Bloomberg     6th June 2018 South Africa’s government has scrapped plans to compel mining companies to contribute 1% of their annual turnover to a new community development agency because it feared the funds could be abused, the nation’s mining minister said. The levy was proposed in a draft of the nation’s new Mining... 

Probe into influence peddling to start hearings in August

By: Reuters     24th May 2018 An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

South Africa to cut 'Gupta Clause' in Mining Charter, Minister says

By: Bloomberg     23rd May 2018 South Africa will remove a clause from its Mining Charter that includes naturalized citizens in the group of people who should benefit from attempts to more evenly redistribute the country’s mineral wealth. Mineral Resources Minister Gwede Mantashe is in talks with companies, unions and mining... 

Nuclear industry urged to address business case

By: Rebecca Campbell     16th May 2018 Decisions on the future energy mix for South Africa need to be forward looking, not backward looking. So affirmed EE Publishers MD Chris Yelland in his keynote address to the National Nuclear Regulator's second Nuclear Regulatory Information Conference on Wednesday. "Nuclear power in South Africa... 

Eskom says facing coal shortages at seven power plants

By: Reuters     17th April 2018 South African power utility Eskom, which is battling to recover from a financial and leadership crisis, said on Tuesday that it was facing coal shortages at seven power stations. Eskom supplies around 95% of South Africa's electricity, predominantly by burning coal. The state-owned utility has... 

Troubled Gupta coal mines threaten South Africa with power cuts

By: Bloomberg     17th April 2018 South Africa’s State-owned power utility is working with the National Treasury to source more coal for seven of its plants that don’t have adequate supply, raising the specter of a return to rolling power cuts that have periodically slowed the economy since 2008. Eskom Holdings is diverting coal... 

Burgh picked to keep Gupta coal mines going

By: Bloomberg     12th April 2018 South Africa’s Burgh Group Holdings won a temporary contract to keep mines linked to the Gupta family afloat, according to a business-rescue manager for the assets. Other parties offered financing, but Burgh “came without conditions,” Louis Klopper, a bankruptcy-proceedings manager at Coronado... 

Glencore is said to mull buying back Gupta-linked coal mine

By: Bloomberg     27th March 2018 Glencore is considering a bid for the Optimum coal operations in South Africa, which it sold in 2015 to a company part-owned by the politically connected Gupta family, according to two people familiar with the matter. Optimum supplies fuel to state power utility Eskom Holdings and became a... 

Oliphant talks up Mantashe's mining pedigree in Toronto

By: Henry Lazenby     15th March 2018 South Africa's Deputy Mineral Resources Minister Godfrey Oliphant talked up the mining pedigree of newly installed Minister Gwede Mantashe during the recent Prospectors and Developers Association of Canada's annual convention, held in Toronto. "His previous mining experience is an advantage for... 

Legal challenge a hurdle, but 'not end of the road' for renewables

By: Terence Creamer     13th March 2018 The excitement associated with Energy Minister Jeff Radebe’s move to end two years of confidence-sapping uncertainty in South Africa’s independent power producer (IPP) market, turned to frustration on Tuesday when the signing of agreements for 27 renewable-energy projects was voluntarily delayed... 

South Africa's future 'just got a lot more positive', Anglo American CEO says

By: Reuters     7th March 2018 South Africa's future is looking "a lot more positive" since President Cyril Ramaphosa succeeded scandal-plagued Jacob Zuma last month, Anglo American's Chief Executive Mark Cutifani said on Wednesday. Mining companies and South Africa's government have been at loggerheads for years over... 

Building trust between miners, host governments a prerequisite to foster economic prosperity

By: Henry Lazenby     6th March 2018 Endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union's African Mining Vision, an audience attending the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference heard on... 

Optimum workers paid but questions raised about future sale

By: African News Agency      28th February 2018 There was no reason to place Optimum Coal Mine into business rescue other than the financing woes of Tegeta Exploration and the now fugitive Gupta family, Parliament's portfolio committee on mineral resources heard on Wednesday. Goodwill Mthombeni, the chairperson of the Optimum branch of the... 

BLSA welcomes Cabinet reshuffle

By: African News Agency      27th February 2018 Business Leadership South Africa (BLSA) on Tuesday welcomed the changes to the national executive announced on Monday night by newly appointed President Cyril Ramaphosa, but urged him to speedily review the size of his Cabinet as promised. BLSA applauded the return of Nhlanhla Nene as Finance... 

NUM says members not paid at Gupta-owned Optimum mine

By: Reuters     23rd February 2018 The National Union of Mineworkers (NUM) said on Friday that its members had not been paid on time at the Optimum coal mine, which is owned by the Gupta family, and would not return to work at the operation which has started business rescue proceedings. "The guys were not paid and they want a... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in South Africa

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring for new opportunities worldwide and countries scrutinised for their investment attractiveness and moni- tored in terms of economic growth, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining industry... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in SA

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring worldwide for new opportunities and countries scrutinised for their investment attractiveness and monitored in terms of economic growth, currently, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining... 

Sense of urgency needed to revive South Africa’s mining industry, condemn evil past in strongest terms

By: Martin Creamer     23rd February 2018 A sense of urgency is needed to pull South Africa's mining industry back from the brink, set it on a course to success and for the industry to be scathing about condemning its evil past in the strongest of terms. The country has fallen badly behind other mining jurisdictions and the strong... 

'Off to the races' for South African assets as Ramaphosa steps in

By: Bloomberg     15th February 2018 Stocks surged the most since December 2014, the rand rallied to a three-year high and bond yields fell to a level last seen more than two years ago as market favorite Cyril Ramaphosa took the helm of Africa’s most industrialized economy. “This is the Cyril bonus,” said Wayne McCurrie, the head of... 

Zuma quits as President of South Africa

By: Reuters     14th February 2018 Jacob Zuma resigned as President of South Africa on Wednesday, heeding orders by the ruling African National Congress (ANC) to bring an end to his nine scandal-plagued years in power. In a 30-minute farewell address to the nation, 75-year-old Zuma nonetheless said he disagreed with the way the... 

Botswana Diamonds starts exploration work at Botswana JV, maintains exploration optimism

By: Mia Breytenbach     13th February 2018 Aim-listed Botswana Diamonds has started exploration work on the Sunland Minerals joint venture (JV), which it shares with Russian diamond producer Alrosa, in Botswana. The objective of the exploration programme is to follow up on 15 previously identified priority geophysical targets in PL232-235... 

Political shifts lift investor mood in Southern African mining

By: Reuters     8th February 2018 Mining is a long-term game, but in Southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year. Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of... 

South African mining seen a winner as Ramaphosa woos investors

By: Reuters     26th January 2018 South Africa's embattled mining industry could be first in line to benefit from a boost in foreign direct investment (FDI) if the new leader of the ruling party Cyril Ramaphosa implements measures seen as vital to draw in more cash, analysts said. The governing African National Congress (ANC)... 

Legal expertise advances local gas investment

By: Robyn Wilkinson     26th January 2018 Law firm Norton Rose Fulbright has helped Norwegian oil and gas company Statoil navigate South Africa’s myriad legislative requirements to acquire a participating interest in two gas exploration blocks offshore of South Africa’s east coast.  

State capture commission must investigate all State corruption, focus on Guptas

By: News24Wire      25th January 2018 President Jacob Zuma wants the State capture commission of inquiry to investigate all forms of government corruption, including allegations against him, his Cabinet ministers, the Gupta family and State-owned entities. In the terms of reference seen by News24, Zuma says the commission must... 

A strong rand is ruining the gold rally for South African mines

By: Bloomberg     25th January 2018 For South African gold miners, it’s both the best and worst of times. The metal started the year with a bang, rising 4% so far and trading near the highest since August 2016. But an equally impressive rally in the rand means that South Africa-focused producers are likely to miss out on the party. 

Suspended Eskom CFO resigns

By: African News Agency      23rd January 2018 Suspended Eskom chief financial officer (CFO), Anoj Singh, resigned on Monday, South Africa's power utility said. "Eskom has today [on Monday] received, through Mr Anoj Singh’s attorneys, a formal letter of resignation by Mr Singh from his position as the Chief Financial Officer, in line with the... 

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