Despite being superseded by the manufacturing and services sectors in terms of contribution to the country’s GDP, South Africa’s mainstream mining industry still accounts for more than 30% of the market capitalisation on the JSE, and is characterised by its high degree of technical expertise and the facility with which it is able to mobilise capital for new ventures.
A number of developments in South Africa’s mining industry will enhance the suitability of the sector as an attractive investment target. That is according to MG Diliza, chief executive of the Chamber of Mines, who was speaking last week at the Mining Investment Conference in London. “South Africa is the world’s richest and most diverse repository of mineral commodities."
When Maggie leaves her township home to catch a bus to work in the mornings, she stops to buy a newspaper. It’s a new experience for her. Ten or 15 years ago, she did not bother. Then she occasionally listened to news reports broadcast by radio but, she admits, she wasn’t particularly interested. The news did not affect her.
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The University of KwaZulu-Natal (UKZN) has informed two of its mechanical engineering professors that they are under investigation. In a statement on Monday, the university said the two men were informed that ”investigations are under way and charges relating to misconduct are being prepared”.
The government had by Monday afternoon made no new offer at a special bargaining council meeting with public-sector unions called to discuss the current wage dispute. Some union negotiators, who did not want to be identified because negotiations were ongoing, said there was ”no new offer on the table” and that it was likely that strike action planned for June 1 would proceed.
The United States urged Iran on Monday to stop supporting militias in Iraq in the most high-profile meeting between the two countries in almost 30 years, which both sides later described as positive. The rare talks in Baghdad were narrowly focused on Iraq’s spiralling sectarian violence and did not touch on Iran’s controversial nuclear programme.
Heavy storms, landslides, flash floods and lightning have killed at least 23 people in Europe and Turkey, officials said on Monday. Nine people died in eastern Turkey, including six killed in severe flooding in mountainous Agri province near the Iranian border, where river waters were swollen by melting snows. Two more people were missing.
England inflicted the West Indies’ worst Test defeat of all time, breaking a 50-year-old record, as they won the second Test by an innings and 283 runs to go 1-0 up in the four-match series on Monday. West Indies, 137-6 at tea on the fourth day, lasted just 25 balls after the resumption, losing their last three wickets on 141 after being made to follow on.
A scandal-tainted minister in Prime Minister Shinzo Abe’s Cabinet committed suicide on Monday, compounding problems for the Japanese leader whose support has slumped ahead of a July election. It was the first suicide by a Japanese Cabinet minister since the days after Japan’s defeat in World War II, according to officials at the national library.