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CHARTER THREE HIT FOR SIX:

By: Martin Creamer     22nd September 2017 Mineral Resources Minister Mosebenzi Zwane, who has upset all stakeholders with his Mining Charter Three, is facing a barrage of stakeholder resistance to his deleterious document. The Chamber of Mines has stopped unfettered Ministerial comment on Mining Charter Three until a full bench of judges... 

CHARTER THREE HIT FOR SIX:

TOUGH TO TICK

By: Darlene Creamer     22nd September 2017 Finance Minister Malusi Gigaba faces the most daunting Medium-Term Budget Policy Statement yet to be delivered by a South African finance minister. Not only has government’s credibility taken a nosedive under President Jacob Zuma, but there is now even a deep lack of trust surrounding the Finance... 

TOUGH TO TICK

FICTION AND FIBS IN FOREIGN FIELDS:

By: Martin Creamer     15th September 2017 Mineral Resources Minister Mosebenzi Zwane has been globe-trotting again instead of taking to mining stakeholders at home. He got away with distorting the realities of his aberrant Mining Charter Three at the LatAm Mining Cumbre in Chile, but thankfully he was prevented from dishing out more... 

FICTION AND FIBS IN FOREIGN FIELDS:

MISSING IN ACTION

By: Darlene Creamer     15th September 2017 The interventions made by certain corporations following the #GuptaLeaks, as well as the expulsion of Bell Pottinger by the UK’s Public Relations and Communications Association, stand in stark contrast to the total lack of action by South Africa’s National Prosecuting Authority. The National... 

MISSING IN ACTION

DEMOLITION DEPARTMENT

By: Martin Creamer     8th September 2017 If South African mining continues to be damaged the way it is, it is likely to disappear altogether. Already mining company equity risk has soared along with the cost of capital, which puts South Africa at an increasing disadvantage. Mining Charter Three, if not stopped, will the heaviest... 

DEMOLITION DEPARTMENT

NEW MERGER MIX

By: Darlene Creamer     8th September 2017 Cement producers PPC and Afrisam abandoned their most recent merger negotiations late last month. However. Afrisam insisted that it had not abandoned the consolidation plan entirely and that a third approach could yet be made. Bloomberg reports that AfriSam is in negotiations with an equity... 

NEW MERGER MIX

STRANGULATION OF MINING

By: Martin Creamer     1st September 2017 Mining Charter Three is already in the throes of strangling the mining industry, which provides virtually half of South Africa’s foreign currency from a quarter of its exports. Without these foreign currency earnings, South Africa’s participation in global trade stands to be decimated. Yet the... 

STRANGULATION OF MINING

CATASTROPHE IN THE MAKING

By: Darlene Creamer     1st September 2017 A recent Centre for Development and Enterprise (CDE) report confirmed just how big a crisis South Africa has in the area of youth unemployment. The CDE found that, the country’s 20-million citizens aged between 15 and 34, 7.5-million were not in employment, education or training at the end of... 

CATASTROPHE IN THE MAKING

LOCAL MINING NEEDS URGENT POLICY ATTENTION

By: Martin Creamer     25th August 2017 It is very sad that the mining industry is receiving toxic Mining Charter Three and mineral rights moratorium treatment at a time when the South African economy is in desperate need of stimulation. Even after more than a century of mining, it remains core to defining the entire South African... 

LOCAL MINING NEEDS URGENT POLICY ATTENTION

NUCLEAR NON-DIPLOMACY

By: Darlene Creamer     25th August 2017 The world in 2017 is already a troubled place, with rising inequality, uncertainty over the future of employment as technology displaces people, mass migration from conflict zones, lone-wolf terror attacks and signs of an increasing intolerance for difference and diversity. However, nothing is... 

NUCLEAR NON-DIPLOMACY

SOUTH AFRICA BURNS WHILE DMR FIDDLES

By: Martin Creamer     18th August 2017 The Department of Mineral Resources (DMR) is too inexperienced to realise that mining continues to define the South African economy, despite its errant behaviour. The lenience South Africa is showing to the department and its Ministry is doing South Africa no good at all. The DMR remains... 

SOUTH AFRICA BURNS WHILE DMR FIDDLES

DOMINO EFFECT

By: Darlene Creamer     18th August 2017 The most recent no-confidence vote may have failed to unseat Jacob Zuma as South Africa’s President, but the pressure is undoubtedly mounting on him and his faction. There is no question that the so-called #GuptaLeaks emails have been something of a game changer in throwing the faction off its... 

DOMINO EFFECT

VINDICTIVE MORATORIUM

By: Martin Creamer     11th August 2017 Mineral Resources Minister Mosebenzi Zwane and his Department of Mineral Resources (DMR) should be brought to book for the shocking hand they have dealt to an industry that remains core to defining the South African economy. The African National Congress is correct to instruct the Minister and... 

VINDICTIVE MORATORIUM

EATING AN ELEPHANT

By: Darlene Creamer     11th August 2017 The #GuptaLeaks emails have provided incredible insight into just how ambitious the Gupta family and its surrogates were in their efforts to secure mind-bogglingly large revenue steams from South Africa’s State-owned companies (SoCs). In the absence of a commission of inquiry, the Parliamentary... 

EATING AN ELEPHANT

MORONIC MORATORIUM

By: Martin Creamer     4th August 2017 One week the Department of Mineral Resources (DMR) signs a written undertaking not to apply the controversial Mining Charter Three and the next week it pulls the carpet from under that signed agreement and imposes a moratorium on the corporate and transactional activity that underpins the growth... 

MORONIC MORATORIUM

UNRAVELLING

By: Darlene Creamer     4th August 2017 News reports written since the media came into procession of the so-called #GuptaLeaks emails have been both confirmatory and alarming. Most startling has been the brazenness of the family and their surrogates in efforts to repurpose government policy and public procurement for their own... 

UNRAVELLING

LOOK WHO'S UNDER PRESSURE NOW

By: Martin Creamer     28th July 2017 Notwithstanding last week’s second gazetting, the South African mining industry has won the first round of its fight against the errant by Mineral Resources Minister Mosebenzi Zwane by getting him to provide a written undertaking that neither he nor his equally errant Department of Mineral... 

LOOK WHO'S UNDER PRESSURE NOW

POLITICAL HEADWINDS

By: Darlene Creamer     28th July 2017 On paper, many of the 14 points outlined in Finance Minister Malusi Gigaba’s stimulus plan appear to be supportive of the ambition lift South Africa out of it recession. However, business confidence is undoubtedly the key to any attempt at reigniting growth. Sadly, the current noxious political... 

POLITICAL HEADWINDS

CROSSING SWORDS

By: Martin Creamer     21st July 2017 The urgent interdict application brought by the Chamber of Mines to halt the implementation of Mining Charter Three is likely to succeed, says Webber Wentzel partner Rita Spalding. The Mineral Resources Ministry gazetted the controversial new charter on June 15 without the widespread stakeholder... 

CROSSING SWORDS

WEIGHING ON CONFIDENCE

21st July 2017 While entrepreneurs see opportunity where others see problems, investors nevertheless are notoriously shy of uncertainty. Sadly, South Africa’s toxic political environment has served to increase uncertainty levels, which, in turn, is holding back investor confidence. The North-West University... 

WEIGHING ON CONFIDENCE

LOSING OUT ON POTENTIAL ABUNDANCE

By: Martin Creamer     14th July 2017 South Africa has a mining industry that employs 495 000 people. It pays these employees more than R102-billion a year. It contributes R18-billion a year to the government in taxes. It has been a flywheel that has assisted economic development for 140 years. It is considerably more transformed... 

LOSING OUT ON POTENTIAL ABUNDANCE

WRONG HEADED

By: Darlene Creamer     14th July 2017 For South Africa to truly – and radically – address the triple scourge of poverty, inequality and unemployment, quality education is an essential ingredient. Therefore, it is more than a little disturbing to learn that the authorities may scrap mathematics as a compulsory requirement for... 

WRONG HEADED

ECONOMIC LUNACY

By: Martin Creamer     7th July 2017 What the Mineral Resources Ministry and its Department of Mineral Resources (DMR) are doing to the South African economy is tantamount to economic sabotage. The way the Ministry and the DMR are dictatorially going about Mining Charter Three has already dealt a severe blows. For the common good,... 

ECONOMIC LUNACY

EXPLOSIVE INFORMATION

By: Darlene Creamer     7th July 2017 The court case surrounding the award, by Eskom, of a R4-billion tender to Dongfang, of China, to repair the Duvha Unit 3 boiler, catastrophically damaged in 2011, has some deeply disturbing elements. While Dongfang’s bid was based on a fixed price, it was nevertheless more expensive than ones... 

EXPLOSIVE INFORMATION

SMASH AND GRAB

By: Martin Creamer     30th June 2017 Mineral Resources Minister Mosebenzi Zwane has unleashed havoc on the already battered local mining industry by adopting a short-term smash-and-grab approach to a long-term industry that can only yield economic inclusivity if it grows. To grow, mining needs investment and to get investment it has... 

SMASH AND GRAB

PUNCH DRUNK

By: Darlene Creamer     30th June 2017 South Africa’s toxic politics has left business, as well as potential investors, punch drunk. Besides the irrational ‘night of the long knives’ Cabinet reshuffle, business confidence has been further knocked by the unilateral release of a Mining Charter that cannot be implemented and is probably... 

PUNCH DRUNK

IN THE CROSSHAIRS

By: Martin Creamer     23rd June 2017 ‘BHP board in hedge fund's crosshairs’, ran one headline, along with ongoing reportage of the once-hallowed BHP being downgraded left, right and centre by fund managers and analysts. It is almost as if BHP has gone back to being the Broken Hearted People company it was in the late Nineties,... 

IN THE CROSSHAIRS

ELECTRIC STORM

By: Darlene Creamer     23rd June 2017 News that electricity utility Eskom will be seeking a shocking 19.9% tariff hike from April 1, 2018, is not at all welcome, despite the fact that utility absorbed a 2.2% increase this year. To make things worse, the application has been made amid worrying claims of corruption at the State-owned... 

ELECTRIC STORM

COBALT CAPTURE

By: Martin Creamer     16th June 2017 While the cobalt in platinum group metals (PGM) ore is destroyed in during conventional PGM processing, the new Kell technology can put an end to all that. The lower temperature hydrometallurgical process developed by the Pallinghurst group saves cobalt from destruction at a time when the cobalt... 

COBALT CAPTURE

GRAVY TRAIN

By: Darlene Creamer     16th June 2017 One of the most startling stories to emerge out of the #GuptaLeaks trove is about how a Gupta-family surrogate inserted himself between Transnet and China South Rail (CSR) to earn startling commissions. The story by amaBhungane and Scorpio suggests that a company owned by Salim Essa is pocketing... 

GRAVY TRAIN

REMOVING THE SPARKLE

By: Martin Creamer     9th June 2017 Mineral Resources Minister Mosebenzi Zwane has once again thrown consultation to the four winds and dumped the long-standing practice of granting exemption to rough diamonds being sent to neighbouring Botswana so that they can be like-for-like sorted with diamonds mined in Botswana, Namibia and... 

REMOVING THE SPARKLE

TROUBLING TIMES

By: Darlene Creamer     9th June 2017 For South Africans living through the current African National Congress civil war, with its associated fog, it’s hard to believe things could be as bad elsewhere. The sad reality is that the world, more generally, is not in great shape. Terror threats abound, traditional sources of employment are... 

TROUBLING TIMES

REBRANDING UNDER WAY

By: Martin Creamer     2nd June 2017 South Africa’s 128-year-old Chamber of Mines is changing its name and heading for a new identity, motivated by the need to toss the apartheid past into the dustbin of history and rebrand the organisation as a new modern entity that stimulates economic growth. The changes being introduced will... 

REBRANDING UNDER WAY

SALE SCANDAL 

By: Darlene Creamer     2nd June 2017 The illegal sale of the country’s oil stocks by the Strategic Fuel Fund may well go down in history as one of the most brazen thefts of public resources yet committed in democratic South Africa. The fact that both internal governance rules at the Central Energy Fund and the Public Finance... 

SALE SCANDAL

PLATINUM’S ROYAL RECEPTION

By: Martin Creamer     26th May 2017 PLATINUM’S ROYAL RECEPTION – The Royal Mint will in a few weeks issue 1 oz ‘Queen’s Beasts Lion of England’ platinum coinage, which has rekindled hopes that the South African Mint will wipe the dust off its plans to issue a Mandela coin in platinum. Every effort needs to be made to improve the... 

PLATINUM’S ROYAL RECEPTION

EXCESS LOAD

By: Darlene Creamer     26th May 2017 South Africans have become somewhat numb to outrageous developments at State-owned companies. But the decision of the Eskom board to reinstate Brian Molefe as CEO was sufficient to shock just about all of society – government, business, labour, civil society and even the governing African... 

EXCESS LOAD

PGM PAIN AND GAIN

By: Martin Creamer     19th May 2017 Palladium this month reached its most expensive price in 15 years when it rallied to within $100/oz of its platinum group metals (PGM) stablemate. The price divergence is the result of dalliance in the automotive industry, with the diesel vehicle market, where platinum features strongly, facing... 

PGM PAIN AND GAIN

PROTECTION OFFSET

19th May 2017 Trade and Industry Minister Dr Rob Davies has signed off on a hot-rolled coil safeguard duty, which will offer further protection to South Africa’s primary steel producer ArcelorMittal South Africa. However, he has also promised a new incentive for the downstream industry, which is equally under... 

PROTECTION OFFSET
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