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Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal

By: Martin Creamer Platinum mining company Northam on Wednesday concluded a fully funded ten-year R6.6-billion black economic-empowerment (BEE) equity transaction underpinned by a R4.6-billion capital raising, which has the potential to position the JSE-listed company as a fully integrated, fully empowered South... 

Strike-hit Northam Platinum slumps to first operating loss since 1998

By: Martin Creamer JSE-listed platinum mining company Northam has recorded its first operating loss since 1998 after its Zondereinde mine was hit by an 11-week strike. The traditionally solid performer, headed by retiring CEO Glyn Lewis, slumped to a total comprehensive loss of R92.7-million for the six months to... 

Strike ends as NUM, Northam ink two-year wage deal

By: Natalie Greve Following the acceptance of a Northam Platinum wage offer by the National Union of Mineworkers (NUM) members on Friday, and the subsequent “cleaning up” of the agreement on Monday, the two parties on Tuesday signed a two-year wage deal that ended an almost three-month wage deadlock. The NUM... 

NUM accepts Northam wage offer

By: Leandi Kolver The National Union of Mineworkers (NUM) on Friday accepted Northam Platinum’s revised wage offer, ending the 11-week strike at the platinum company’s Zondereinde mine, in Limpopo. The company’s two-year offer comprised a 9.5% wage increase for core, and a 8.5% increase for noncore catergory 2 to... 

Implats says AMCU wage talks to resume in 2014

By: Reuters South Africa's Impala Platinum (Implats), the world's second largest producer of the precious metal, said wage talks with the Association of Mineworkers and Construction Union (AMCU) remained deadlocked after the two sides met on Thursday, and negotiations would resume in 2014. Company spokesman... 

SA electro-hydraulic actuators used in Africa

By: Ilan Solomons Since mid-2012, pneumatic and hydraulic equipment supplier Ernest Lowe has been providing a substantial number of its electro-hydraulic actuator (EHA) systems for numerous African mining projects in Namibia, Zimbabwe and Sierre Leone, reports design and project engineer Adam Brown. In June 2011,... 

Afrox receives R70m order for safety product

By: Zandile Mavuso Gases and welding products manufacturer Afrox Self-Rescue Division has secured an order to deliver 26 500 units of AfroxPac 35i self-contained self-rescuers and accessories in a deal valued at R70-million, which will be supplied over the next five months. 

PIC increases shareholding in Northam to 18.9%

By: Natasha Odendaal JSE-listed Northam Platinum reported on Wednesday that the Public Investment Corporation (PIC) has increased its shareholding in the company to 18.9%. The platinum producer also announced that black economic-empowerment (BEE) investor Afripalm Resources subsidiary Newshelf sold its 37.2-million... 

Is decentralised bargaining roiling platinum industry?

By: Martin Creamer During the apartheid era, black labour was more homogenous and unified. In the last 18 years, however, it has seen de-homogenisation and many new challenges to worker unity and thus probably need to adjust to facilitate more voices from organised labour. 

Aquarius places another platinum mine on care and maintenance

By: Natasha Odendaal Johannesburg- and London-listed Aquarius Platinum has placed its Everest mine, in Mpumalanga, on care and maintenance, as ramp-up challenges and the low platinum-group metals (PGMs) price environment render the mine uneconomic. The company, which now had three of its seven operations under care... 

Company Announcement: Improved production at Zondereinde

Northam’s improved results for the half-year emerged largely on the back of Zondereinde’s performance. Metals in concentrate produced at the company’s western limb operation were 27% higher at 4 592kg (147 636oz). The higher rand basket price, averaging R341 725/kg (F2011 H1: R308 886/kg) over... 

NUM declares dispute with Northam Platinum

By: Loni Prinsloo he National Union of Mineworkers (NUM) on Tuesday declared a dispute with miner Northam Platinum, saying the JSE-listed company was reluctant to bargain. “The union has approached the company a number of times for bargaining purposes, but has been sent from pillar to post,” said NUM negotiator... 

NUM begins wage talks with Northam Platinum

By: Loni Prinsloo The National Union of Mineworkers (NUM) is demanding a R1 000 across-the-board wage increase from platinum miner Northam and higher living out allowances, the union said on Tuesday. The NUM claims to represent about 7 000 of the company’s 8 000 employees.  

Northam Platinum to list in New York

By: Martin Creamer Mid-tier South African platinum miner Northam is to list in New York. Northam CEO Glyn Lewis says that the JSE-listed platinum-group-metals (PGM) producer is taking the step to provide its “growing” US shareholder base with a more visible profile. 

Aquarius to pay Northam R1,2bn for Booysendal South mineral rights

By: Brindaveni Naidoo Platinum miner Aquarius has agreed to pay Northam Platinum R1,2-billion to acquire mineral rights on farms adjacent to the Everest mine, on the eastern limb of the Bushveld complex, potentially adding 22 years to the mine’s life. Aquarius, which is listed on the ASX, LSE and JSE, said on... 

Northam to report lower H1 earnings

By: Liezel Hill South African platinum-miner Northam Platinum expects earnings for the six months ended December 31 will be significantly lower than a year earlier, after revenue was hurt by a strike and other output disruptions. The company estimates earnings and headline earnings a share will be between 15... 

Mvela proceeds with unbundling as it wins Khumama arbitration

By: Loni Prinsloo JSE-listed Mvela Resources’ share price rose more than 7% on Friday, after it announced that the arbitration to resolve a long-standing contractual dispute with its former shareholder, Khumama Platinum, went its way. Commercial manager James Wellsted said that the arbitrator had decided against... 

NUM members reject Northam's improved wage offer

By: Creamer Media Reporter Members of the National Union of Mineworkers (NUM) at the Zondereinde mine, where a strike over wages is in its fifth week, have rejected a revised offer from Northam Platinum. JSE-listed Northam said on Wednesday that NUM workers had turned down an average wage increase of between 9% and 9,5%... 

Northam wage strike drags on after CCMA talks end in deadlock

By: Chanel de Bruyn The two-and-a-half week strike by unionised workers at Northam Platinum’s Zondereinde mine, in Limpopo province, continued on Wednesday, as the latest round of wage negotiations failed. The majority of the mine’s 6 800 employees downed tools on September 5 in protest over wage increases.  

Exxaro raises pay offer, Northam strike may be long

By: Reuters South African diversified miner Exxaro raised its wage offer to striking workers at its mineral sands unit on Wednesday, while a union said another strike at Northam Platinum might be long. Exxaro, facing a wage strike since August 23, said it had increased its wage offer to members of the... 

Northam boosts FY sales, sees further cost increases for 2011

By: Loni Prinsloo JSE-listed platinum-miner Northam said on Friday that despite a year of "mixed fortunes", sales revenues were up 23,8% to R3,9-billion for the year ended June 30, 2010, underpinned by a creditable operating performance from its Zondereinde mine in South Africa's North West province. Northam CEO... 

Jubilee studies ConRoast furnace for Northam's Booysendal

By: Chanel de Bruyn Aim- and JSE-listed Jubilee Platinum has signed a memorandum of understanding (MoU) with fellow JSE-listed platinum-miner Northam to study the potential of constructing a new direct current arc furnace to treat a portion of platinum-group metal (PGM) concentrate from Northam’s Booysendal mine.... 

Mvela sells Northam stake to ENRC for R2,2bn

By: Loni Prinsloo JSE-listed Mvelaphanda Resources announced on Monday that it would sell 12,2% of its holding in platinum-miner Northam Platinum to the global diversified mining group Eurasian Natural Resources Corporation (ENRC). The South African black economic-empowerment company would sell 44-million of its... 

Resources Watch

This week: ARM CEO Patrice Motsepe prevaricates on the issue of mine nationalisation. Northam Platinum is likely to go to market for its R3-billion Booysendal mine. And, TGME gold is to go on care-and-maintenance. 

Daily podcast – February 24, 2010

By: Shannon de Ryhove South Africa's Ddepartment of Mineral Resources completes an audit of the State's mining assets; and Goldplat expects to see increased revenues at its Ghanaian gold recovery business in future.  

Northam Platinum likely to go to market for R3bn Booysendal – CEO 

By: Martin Creamer JSE-listed platinum miner Northam was likely to go to the market to finance the proposed R3-billion 1 200-employee Booysendal platinum mine in Mpumalanga province, its CEO Glyn Lewis said on Tuesday. Lewis said in reply to mining analyst Nic Dinham that the timing of the expected equity raising... 

Daily podcast – February 23, 2010

By: Shannon de Ryhove Northam Platinum approves R340-milllion capital expenditure at the Booysendal platinum project; and International Gold Exploration will merge its diamond operations with Pangea DiamondFields. 

Northam expects half-year earnings decline

By: Mariaan Webb South African platinum company Northam would post weaker earnings when it releases its half-year results on February 23, it said on Wednesday. Earnings per share (EPS) and headline EPS could fall by between 42% and 51%, from the 113,5c a share reported in the comparable period. The JSE-listed... 

Platinum – supplies, mining and exploration

By: Mary-Anne O’Donnell South African production of platinum in concentrate rose by 10%, to 1,24-million ounces in the first half of last year from platinum-group metals (PGMs) producer Anglo Platinum (Angloplat). 

NUM demands 25% wage increase from Lonmin

By: Esmarie Swanepoel South Africa’s National Union of Mineworkers (NUM) is demanding a 25% wage increase from platinum producer Lonmin, which is offer a 5% across-the-board increase, the union said on Thursday. Lonmin COO Mahomed Seedat confirmed that negotiations with the NUM had started, but was unwilling to... 

SA union agrees one-year wage deal with Northam

By: Esmarie Swanepoel The National Union of Mineworkers (NUM) on Thursday reported that it had reached a wage agreement with South African platinum producer Northam. Both parties have agreed to an across-the-board wage increase of 11,5%, backdated to July, as well as an additional 1% increment on basic wages for... 

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