Sherilee Bridge

DTI concerned over Sasol’s BEE deal

South Africa's Department of Trade and Industry (DTI) said on Friday that it was concerned that the proposed Employee Share Ownership Scheme (ESOP) proposed under Sasol's R17,9-billion black economic empowerment (BEE) deal "falls short of the level of empowerment envisioned in the Codes [of Good Practice]".

Mixed reactions to Sasol’s R18bn BEE deal

Petrochemical giant Sasol's announcement that it plans to transfer 10% of its issued share capital, worth close on R18-billion, into black hands has inspired mixed messages from trade unions. The Chemical, Energy, Paper, Printing, Wood and Allied Workers' Union on Tuesday "cautiously welcomed" the news.

Report: Verification shows mystery gem is diamond

The mystery gem discovered in the North West last week has been certified as a diamond, according to a report in the <i>Mining Weekly</i> on Thursday morning. According to the weekly trade publication, verification of the gem, which is believed to be the largest diamond discovery in the world, has been completed and a certificate was expected to be available by 1pm.

End strike or else, Lonmin tells miners

Lonmin, the world's third-largest platinum producer, on Friday told employees taking part in a strike at its Marikana operations in the North West to return to work or face dismissal. The company said in a media statement that it had issued the ultimatum on Friday morning.

Govt to create industry around nuclear energy

The Department of Minerals and Energy said on Monday that it wants to create a new industry around nuclear energy. Speaking at the release of the draft Nuclear Energy Policy and Strategy for public comment, the department's director general, Sandile Noxina, said such a new industry would lead to the creation of jobs.

Government mulls steel plant

South Africa's Department of Trade and Industry this week indicated that it was considering building a state-backed, but privately operated, steel mill to compete with ArcelorMittal South Africa and Highveld Steel and Vanadium. According to the National Industrial Policy Framework, the department aims to finalise the feasibility study by March 2008.

Safety first as AngloPlat reviews output

Anglo Platinum, the world's largest platinum producer, has been forced to lower its expected 2007 production figures following the introduction of strict new safety measures being implemented across its mines. The surprise resignation of Anglo Platinum CEO Ralph Havenstein has been directly linked to the new safety strategy.

Petroleum-sector strike averted … for now

A possible strike in the petroleum sector has been temporarily averted after employers made a provisional offer of 8% to trade unions, it was announced on Tuesday. Negotiations in the chemical bargaining council on Monday saw trade unions reduced their demand to 9%, while employers increased their original offer from 7% to 7,5%.

South African appointed CEO of BHP Billiton

Mining giant BHP Billiton said on Wednesday that Cape Town-born Marius Kloppers is to succeed Chip Goodyear as its CEO from October this year. A chemical engineer by training, Kloppers is currently group president of non-ferrous materials including copper, lead, zinc and nickel, as well as diamonds.

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