Agnieszka's Feed
May 24, 2013

Lanxess signs deal with S.African miners to end strike

JOHANNESBURG, May 24 (Reuters) – Striking South African
workers at a chrome mine owned by German chemicals group Lanxess
have signed a deal to end a week-long illegal walkout,
after winning a one-off payment from the latest company to give
in to militant labour pressure.

The dispute at the mine in Rustenburg, 120 km (70 miles)
northwest of Johannesburg, added to long-running friction in the
so-called platinum belt that has caused mining production to
slow, raised concerns about Africa’s largest economy and sent
the rand to four-year lows.

May 19, 2013

S.Africa minister accuses Indian High Commission official in Gupta scandal

JOHANNESBURG (Reuters) – South Africa’s justice minister on Sunday accused an Indian High Commission official and some South Africans of colluding to obtain permission for a plane chartered by a rich family close to President Jacob Zuma to use an air force base to land.

The affair – dubbed “Guptagate” after the influential Indian-born Gupta family – has transfixed South Africa since the private flight landed at Pretoria’s Waterkloof Air Force base last month with nearly 200 guests for a lavish family wedding.

May 19, 2013

South Africa finds collusion, manipulation in Gupta scandal

JOHANNESBURG (Reuters) – South Africa’s justice minister on Sunday accused an Indian High Commission official and some South Africans of colluding to obtain permission for a plane chartered by a rich family close to President Jacob Zuma to use an air force base to land.

The affair – dubbed “Guptagate” after the influential Indian-born Gupta family – has transfixed South Africa since the private flight landed at Pretoria’s Waterkloof Air Force base last month with nearly 200 guests for a lavish family wedding.

May 18, 2013

Workers stage illegal strike at South Africa chrome mine

JOHANNESBURG, May 18 (Reuters) – Operations at a chrome mine
in South Africa owned by chemicals group Lanxess have
been suspended since Thursday after some 470 workers started an
illegal strike over bonus payments, the company said on
Saturday.

The dispute at the mine in Rustenburg, 120 km (70 miles)
northwest of Johannesburg, adds to growing labour tensions
around South Africa’s platinum belt, which are set to intensify
over looming job cuts and wage talks in the sector.

May 18, 2013

Workers on illegal strike at chrome mine in S.Africa-union

JOHANNESBURG, May 18 (Reuters) – Operations at a chrome mine
in South Africa owned by chemicals group LANXESS have been
suspended since Thursday after workers started an illegal strike
over bonus payments, the National Union of Mineworkers (NUM)
said on Saturday.

The dispute at the mine in Rustenburg, 120 km (70 miles)
northwest of Johannesburg, adds to growing labour tensions
around South Africa’s platinum belt, which are set to intensify
over looming job cuts and wage talks in the sector.

Apr 16, 2013

Analysis – Poor railways, ports put brake on Mozambique’s coal rush

DONDO, Mozambique (Reuters) – Mozambique’s transport system offers a cautionary tale to African mining ventures, as investors play poker with the government over fixing links that remain shambolic two decades after its civil war.

Foreign mining companies are betting in Mozambique on one of the world’s largest untapped reserves of premium hard coking coal relatively close to Africa’s east coast, a prime location for feeding hungry markets in Asia.

Apr 16, 2013

Poor railways, ports put brake on Mozambique’s coal rush

DONDO, Mozambique, April 16 (Reuters) – Mozambique’s
transport system offers a cautionary tale to African mining
ventures, as investors play poker with the government over
fixing links that remain shambolic two decades after its civil
war.

Foreign mining companies are betting in Mozambique on one of
the world’s largest untapped reserves of premium hard coking
coal relatively close to Africa’s east coast, a prime location
for feeding hungry markets in Asia.

Apr 10, 2013

Rio Tinto among main bidders for Mozambique rail project

JOHANNESBURG, April 10 (Reuters) – Mozambique has named
miner Rio Tinto as one of six preferred bidders
for a new $3 billion railway and port development project to
boost coal exports, the country’s transport minister said on
Wednesday.

The former Portuguese colony, which emerged from civil war
two decades ago, boasts some of the world’s largest untapped
coal reserves and is expected to become a key source of
sought-after premium, hard coking coal used in steel making.

Apr 10, 2013

Exxaro aims to mine iron ore in Congo this year

JOHANNESBURG (Reuters) – South Africa’s Exxaro (EXXJ.J: Quote, Profile, Research, Stock Buzz) expects to start mining iron ore in the Republic of Congo this year, with an eye to producing up to 10 million metric tons (11 million tons) a year, as the miner diversifies beyond its traditional reliance on coal.

Exxaro’s chief executive Sipho Nkosi told the Reuters Africa Investment Summit he was optimistic it would soon get a permit to begin production at the Mayoko project.

Mar 26, 2013

Deal on development bank eludes BRICS nations at summit

DURBAN, South Africa (Reuters) – BRICS nations failed on Tuesday to resolve differences over funding for and the location of a proposed joint development bank, indicating the emerging powers group would not achieve the goal at a summit in South Africa.

Agreeing on the share of funding contributions for the BRICS bank from each of the members – Brazil, Russia, India, China and South Africa – had already been a thorny issue for a group which brings together vastly disparate economies and governments.