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/ 25 October 2007
A 12-day-long strike at Sasol Mining in Secunda has come to an end with both Sasol and employees represented by the newly recognised United People’s Union of South Africa trade union agreeing that work would resume on Thursday afternoon. An estimated 2 000 employees embarked on the strike almost two weeks ago.
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/ 17 October 2007
The National Union of Mineworkers (NUM) said on Wednesday that it had struck a double-digit wage deal with platinum miner Lonmin. The trade union said it had signed a new two-year wage agreement with Lonmin that would see workers getting 10% in the first year and 8% in the second year.
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/ 17 October 2007
South Africa’s retail trade sales picked up again in August, increasing by 6,9% year-on-year, in comparison to July’s 4,9% year-on-year rise, according to data released by Statistics SA on Wednesday. Total retail sales at constant 2000 prices reached R24,5-billion in August, up from R24,1-billion in July 2007.
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/ 16 October 2007
While the mining industry continues to acquire a high degree of technical expertise, local people in mining-dependent economies have not acquired all the skills they need to grow and sustain vibrant economies beyond mining, Minister of Minerals and Energy Buyelwa Sonjica said on Tuesday.
South Africa’s department of trade and industry said last week that it was concerned the Employee Share Ownership Scheme (Esop), proposed under Sasol’s R17,9-billion BEE deal, "falls short of the level of empowerment envisioned in the codes". "The BEE Act and its accom-panying Codes of Good Practice were specifically intended for the benefit of black South African citizens," the department said.
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/ 28 September 2007
AltX-listed independent power producer the Ispa Group on Friday said it intends to bring its 1 600MW combined cycle gas turbine power plant in Coega on stream as fast as possible "to meet the desperate need for power in South Africa".
The United Kingdom-based company is expected to spend more than R2-billion on the plant.
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/ 25 September 2007
The deregulation of South Africa’s liquid-fuels industry seemed no closer on Tuesday as the Department of Minerals and Energy kicked off the first Energy Summit in Sandton, Johannesburg, which is expected to set the tone for the review of the country’s energy policies.
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/ 18 September 2007
The Department of Trade and Industry (DTI) on Tuesday reiterated that it was "not at odds" with petrochemical giant Sasol over its proposed R7-billion employment share-ownership scheme. "Media reports about the Sasol … black economic empowerment [BEE] deal would seem to indicate that there is some confusion about the department’s position," the DTI said in a statement.
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/ 14 September 2007
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]".
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/ 12 September 2007
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.
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/ 6 September 2007
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.
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.
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.
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.
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.
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%.