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/ 5 December 2003
South African steel group Iscor on Friday welcomed the lifting of United States tariffs on imported steel and didn’t expect the change to threaten the group’s niche steel product exports into the US, Iscor’s head of corporate affairs Phaldie Kalam said.
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/ 27 November 2003
Politician-turned-businessman Tokyo Sexwale on Wednesday hailed the deal between his empowerment group Mvelaphanda Resources (Mvela) and world number-four gold group Gold Fields as an industry-changing deal. Earlier, Gold Fields and Mvela announced the exact terms and structure of the R4,1-billion deal.
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/ 24 November 2003
Following the rally in the United States maize price, South Africa is facing the prospect of a zero import tariff triggering for maize. South Africa currently has a maize import tariff of R16,50 a ton. "We will keep a close eye to see if a new maize import tariff triggers," said National Chamber of Milling executive director Jannie de Villiers.
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/ 11 November 2003
Empowerment is a business imperative that South African companies need to embark upon as black economic empowerment (BEE) accreditation will allow them to maintain their existing positions, executive chairman of industrial group Bidvest (BVT) Brian Joffe said on Monday.
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/ 4 November 2003
The Oppenheimer family’s Brenthurst Initiative got a thumbs-down from some delegates at a debate on the plan on Monday as the proposal is seen unlikely to allow more of South Africa’s population to become economically active.
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/ 31 October 2003
Ghana’s Ashanti Goldfields on Thursday welcomed the support given earlier this week by the Ghana government for world number two gold miner AngloGold’s bid for Ashanti.
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/ 28 October 2003
South Africa’s central maize and sunflower growing areas are extremely dry and as a result sales of sunflower and maize seed for the 2003/04 season are going poorly, Advata Africa Seeds marketing director Fanie le Roux said on Tuesday.
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/ 24 October 2003
Nasdaq and London-listed Randgold Resources is set to announce early on Friday afternoon that it is increasing its offer for Ghana’s Ashanti Goldfields, sources familiar with the matter said on Friday.
Serious funding shortages are threatening to undermine efforts by the United Nations to save the lives of millions of people in Southern Africa as well as destroy the fragile gains made over the past 12 months, says James T Morris, the UN secretary general’s special envoy for humanitarian needs in Southern Africa.
South African banking group Absa chief economist Christo Luus is forecasting that the rand will move to R6,50 to the United States dollar in 2004. The South African rand remained below R7 per dollar in early trade on Wednesday, after breaking this level on Tuesday for the first time in three years.
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/ 30 September 2003
Canadian aluminium group Alcan’s move to take over France’s Pechiney, given conditional approval by the European Commission (EC) on Monday, poses a risk for the proposed Coega aluminium smelter as Alcan may take a different view on the project.
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/ 22 September 2003
Southern Africa is set to increase its annual output of aluminium from 1,1-million tons to 1,384-million tons, or 7% of global output, once the expansion of the Hillside and Mozal smelters is complete in 2004, BHP Billiton Aluminium South Africa president Mahomed Seedat said on Monday. At present, Southern Africa has three aluminium smelters — […]
The big risk for rough diamond sales during the second half of 2003 is that the US recovery could abort, De Beers Managing Director Gary Ralfe said on Monday.
South Africa’s three major gold miners AngloGold, Gold Fields and Harmony experienced small stay-away incidents by their workforce on the Sunday night shift but everything was back to normal on Monday, said company representatives.
African agriculture is seen as a key part of the New Partnership for Africa’s Development (Nepad) in terms of its role in achieving economic advancement and poverty alleviation, said Nepad secretariat agricultural adviser Dr Richard Mkandawire, a citizen of Malawi, on Monday.
There are pitfalls in South Africa’s draft Royalty Bill, especially the section dealing with when mines can apply and be granted exemption from royalty payments, Michael Schottler, a lawyer from Leppan Beech Attorneys, told a mining conference on Thursday.
The South African government is likely to miss the deadline of August 1 for the publication of the second draft of the Royalty Bill, which deals with mining royalties, said Webber Wentzel Bowens lawyer Peter Leon on Wednesday.
A successful bid by Canadian aluminium group Alcan for French aluminium player Pechiney is likely to affect the establishment of an $2,1-billion aluminium smelter at South Africa’s Coega port.
South African empowerment Mvelaphanda Resources will hold 10,5% in Gold Fields and 15% of the gold miner’s South African operations once a R4,1-billion deal between the two companies has been concluded.
The South African government is looking at a mechanism to stabilise prices of staple foods, such as maize or wheat, at times of high prices such as during food crises or drought.
Members of the National Union of Mineworkers have been on strike since Tuesday evening at South African junior gold miner Durban Roodepoort Deep’s Bufflesfontein mine.
South African gold heavyweight AngloGold’s merger talks, announced Friday, with Ghana-based miner Ashanti Goldfields puts it in striking distance of recapturing its status as the world’s number one gold miner by output.
UK listed platinum miner Lonmin, which is looking at the possibility of diversifying out of platinum, is most likely to go into commodities that China is demanding, analysts say.
The South African abhors "fronting" or window dressing in mining empowerment deals and such practices will be punished in the future by yet to be determined measures, the Department of Minerals and Energy warned on Wednesday.
A website has been established to keep an eye on the environmental impact South African oil and chemicals group Sasol’s operations has on communities in South Africa and the US.
The programme of black economic empowerment in South Africa will go a long way to ensuring that South Africa doesn’t see a revolution like that in the US in 1775, France in 1789, and Russia in 1917.
The South African mining industry’s progress on ending the single sex hostel system is too slow, Minerals and Energy Minister Phumzile Mlambo-Ngcuka said on Tuesday.
Almost all of the miners that embarked on a nine-day work stoppage at world number two platinum miner Impala Platinum have returned to work on the Sunday night shift.
The strike at South African platinum miner Impala Platinum on Tuesday continued for the eighth consecutive working day at the company’s Impala Lease Area in North West Province.
The management expertise of South African food and catering group Nandos could be used to make UK restaurant operator PizzaExpress more efficient if Nandos’ controlling shareholder Capricorn wrests control of the ailing pizza chain.
South African trade union the National Union of Mine workers on Tuesday spoke out against the government’s move to sell off 30% of state-run electricity utility Eskom with 10% earmarked for empowerment interests.
South African oil and chemicals group Sasol is putting on hold major acquisitions in the half-year to June 2003 as the company is in a consolidation phase, Sasol chief executive Pieter Cox said on Monday