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Harmony Gold net profit plunges, operational cash soars

By: Martin Creamer     12th February 2019 The net profit of Harmony Gold plunged in the six months to December 31, dropping from R897-million for the corresponding period of last year to R75-million. However, production soared by 34% and operations generated R1.1-billion in free cash flow on the inclusion of the acquired Moab Khotsong... 

Transnet to pursue ‘just and equitable’ settlements with rail OEMs awarded ‘unlawful’ contracts 

By: Terence Creamer     17th January 2019 Having determined the procurement of 1 064 diesel and electric locomotives to be “irregular and unlawful”, Transnet has communicated its intention to review contracts awarded to four original equipment manufacturers (OEMs) in 2015. The State-owned freight logistics group has also indicated that... 

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’ 

By: Terence Creamer     7th November 2018 Transnet acting CEO Tau Morwe is prioritising the restoration of trust, internally and externally, which he acknowledges has been affected by the “turbulence” associated with recent action taken by the board to tackle corruption and recover money “siphoned” from the State-owned company. However,... 

Metric Automotive Engineering

13th September 2018 Metric Automotive Engineering is positioned as a world-class diesel engine component remanufacturer. Well-known in the mining, quarrying, earthworks, construction and railway sectors for its ability to remanufacture diesel engine components to original-equipment manufacturer specifications, and... 

Eureka gold mine to restart production in H1 2019

By: Simone Liedtke     7th September 2018 Aim-listed Vast Resources hopes to restart production at the Zimbabwe-based Eureka gold mine, in which the company’s 25%-owned Dallaglio Investments holds a 95% interest, in the first half of 2019. Multiple work programmes are currently being undertaken at Eureka to restore the mine to... 

Grindrod reports strong recovery in interim earnings

By: Marleny Arnoldi     31st August 2018 Freight and financial services group Grindrod has achieved a strong year-on-year recovery in the six months to June 30, with its earnings a share having increased to 317c, compared with a loss a share of 11.5c in the first half of 2017. Headline earnings a share were 3.8c, compared with a... 

Southern Palace accelerating mining technology development in South Africa

By: Marleny Arnoldi     24th August 2018 Southern Palace Group of Companies has, through its subsidiary Genrec Engineering, put ambitious plans in motion to position South Africa as a leading hub for mining solutions research and development, as well as manufacturing. Genrec’s factory, in Wadeville, is undergoing significant upgrades... 

Transnet results eclipsed by irregular expenditure, qualified audit and State capture

By: Terence Creamer     20th August 2018 A surge in irregular expenditure to over R8-billion triggered a qualification of Transnet’s 2018 financial results, all but eclipsing an otherwise strong financial and operational performance by the State-owned group. The irregular expenditure related primarily to procurement undertaken by... 

CSIR, Mandela Mining Precinct combine forces in push to improve safety and productivity

By: Nadine James     17th August 2018 The Council for Scientific and Industrial Research (CSIR), as part of its collaboration with the Mandela Mining Precinct, has either developed or adapted several technologies that could be applied in mining environments to improve safety, productivity and efficiency. The function of the Mandela... 

CSIR, Mandela Mining Precinct combine forces in push to improve safety and productivity

By: Nadine James     17th August 2018 The Council for Scientific and Industrial Research (CSIR), as part of its collaboration with the Mandela Mining Precinct, has either developed or adapted several technologies that could be applied in mining environments to improve safety, productivity and efficiency. The function of the Mandela... 

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