R/€ = 15.52 Change: 0.02
R/$ = 13.92 Change: -0.06
Au 1416.90 $/oz Change: -10.80
Pt 852.80 $/oz Change: 2.32

Brindaveni Naidoo

Brindaveni Naidoo

Electricity utilities move to collaborate on climate change threat

16th December 2011 The Global Electricity Initiative (GEI) was launched in Durban last week, bringing together 25 utilities from around the world to collaborate on climate change, while the international negotiations on climate change continued in parallel. The utilities, including South Africa’s Eskom, represent... 

Shanduka ups stake in coal venture

14th December 2011 Cyril Ramaphosa’s Shanduka Group and Glencore International will share control of their coal joint venture in South Africa, after the black-owned group increased its stake. CEO Phuti Malabie said that the decision to increase its shareholding in Shanduka Coal from 30% to 50.1% was in line with... 

Trans Hex makes R180.6m from SA diamond sales

13th December 2011 Miner Trans Hex made R180.6-million from its October to December tender sales of South African production, the TSX- and JSE-listed miner reported on Tuesday. The company sold 20 270.74 ct at an average price of $1 116/ct and an average exchange rate of R7.98 to the dollar.  

Italy's Tenova buys Bateman Engineering

13th December 2011 Italian engineering group Tenova said on Tuesday it has acquired Bateman Engineering, a global engineering project house with its main operational office in Johannesburg. Tenova CEO Gianluigi Nova said the acquisition would enable the company to strengthen its global netwo 

Paragon recovers first diamond from new Lesotho project

13th December 2011 Aim-quoted Paragon Diamonds said on Tuesday that the positive results emanating from a field exploration programme reflected the potential of the Motete dyke in Lesotho. Earlier this month, its 85%-owned subsidiary Botle Mining acquired the kimberlitic prospecting for the Motete dyke, a... 

Aquarius confirms Mimosa ownership deal

13th December 2011 Aquarius Platinum confirmed on Tuesday that local communities have acquired a stake in the Mimosa mine in Zimbabwe, which it jointly owns with world number-two platinum miner Impala Platinum (Implats). The transaction is part of the final indigenisation plan on which Mimosa and the government of... 

SA supports carbon capture technology but costs a concern

1st December 2011 South Africa was fully committed to carbon capture and storage (CCS) technology, but the cost of CCS remained "prohibitively high" for developing countries like South Africa, which have a myriad of socioeconomic challenges to deal with, Energy Minister Dipuo Peters said on Thursday. The Minister... 

Global Witness welcomes UK MP’s statement on DRC asset sale

25th November 2011 Nongovernmental organisation Global Witness has welcomed the recent statement by UK Member of Parliament Eric Joyce raising concerns over the sale of what appear to be billions-of-dollars-worth of mining assets in the Democratic Republic of Congo (DRC). Joyce, chairperson of the All-Party... 

Northam seals two-year wage deal with NUM, Solidarity

25th November 2011 The National Union of Mineworkers (NUM) and Solidarity have reached a two-year wage agreement with JSE-listed Northam Platinum this week, following wage negotiations over the past five months. The average wage increases ranged from 9% to 9.5% in both years. The increases will be backdated to... 

Kenya issues gold mining lease to Goldplat

23rd November 2011 Aim-listed Goldplat has been issued with a 21-year mining lease for the Kilimapesa gold mine, making it Kenya’s first gold project to receive a mining lease since independence in 1963. Environment and Mineral Resource Minister John Michuki issued the lease.  

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