EXPECTED mergers and acquisitions in a number of gold mining companies could be one of the reasons for the current rally in the gold price. Gold Fields recently announced a $1.83m merger with Franco-Nevada. Barrick Gold, the world’s fourth producer after Gold Fields, has agreed to buy Tanzania’s Pangea Goldfields for R938M. Gold prices have […]
THE Commission on Restitution of Land Rights says over 110000 people have already benefited from the land restitution programme with a further 3.9m set to receive land or compensation before the process runs its course. Having cost R272m so far, the cost is set to escalate substantially over the next few years, chief land claims […]
NATIONAL water and forestry affairs minister, Ronnie Kasrils, may be called to testify before the Truth Commission’s amnesty committee in Northern Province. This is despite his being struck from the committee’s roll of amnesty applicants on Monday. On Tuesday, a landmine victim asked that Kasrils be subpoenaed in his capacity as a former senior member […]
THE government is considering using expropriation to make land available for restitution, new Land Affairs director-general Gilingwe Mayende said on Tuesday. Addressing the Pretoria Press Club, Mayende also announced an imminent crackdown on those who illegally evicted people from their land. Mayende said an over-reliance on market forces and the willing buyer-willing seller principle had […]
IN an attempt to spread its influence further into Southern Africa, the Development Bank of Southern Africa has signed a US$10m loan with Zambia’s Copperbelt Energy Corporation. This is the first loan to a private power company. The 12-year loan will finance the extension of the company’s electricity transmission and distribution infrastructure in the mineral […]
THE world’s largest diamond company, De Beers, has decided to follow a strategic review in marketing and planned acquisitions. It wants to boast its own gems and run more foreign mines. Hence the $175m hostile bid for Canadian miner, Winspear. Although De Beers controls up to 70% of the world trade in rough gems and […]
BELGIAN Prime Minister Guy Verhofstadt arrived at Waterkloof air force base in Pretoria on Thursday morning for his first visit to South Africa. The Department of Foreign Affairs earlier said Verhofstadt would hold discussions with President Thabo Mbeki on the situation in central Africa and the Great Lakes region during his two-day visit. Verhofstadt was […]
FORMER National Party cabinet minister Abe Williams has been denied leave to appeal against his convictions on corruption and theft charges involving more than R500000. He was present during when his application was argued in the Cape High Court on Tuesday, but took ill during the lunch hour and was not in court for the […]
OWN CORRESPONDENT, Johannesburg. MOTOR vehicle sales showed sustained growth during the first six months of 2000 to end the half year 19% up on the same period last year, with a total of 165 678 sales recorded by Naamsa. In June, sales were up a substantial 25,7% over the same month in 1999. The passenger […]
ANALYSTS said Zimbabwe’s refusal to devalue its currency will do further damage to the economy and send negative signals to foreign donors. It is ill-advised and will hurt ordinary people plus underming growth. An economist at the Zimbabwe Chamber of Commerce describes the ruling Zanu-PF party’s decision as a disaster, likely to increase the country’s […]