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Numsa lodges wage dispute with AMSA
Published: 17 Jul 18
The National Union of Metalworkers of South Africa said on Tuesday it had lodged a dispute at the Commission for Conciliation, Mediation and Arbitration (CCMA) against ArcelorMittal South Africa (AMSA) after reaching a deadlock in wage talks. The union is demanding an 11% wage increase across the board, a rise in the company's medical aid contribution from 60% to 80%, and a one% increase in the provident fund contribution, among others.
Anglo Asian’s production remains on upward trajectory
Published: 17 Jul 18
Production from Azerbaijan-focused Anglo Asian Mining’s Gedabek gold, copper and silver mine is continuing on an upward trajectory, instilling confidence that the full-year guidance of 78 000 oz to 84 000 oz of gold equivalent will be achieved. The Gedabek mine produced 19 042 oz of gold equivalent in the June quarter, which is a 4% quarter-on-quarter increase and a 19% year-on-year improvement. Half-year production rose by 22% to 37 349 oz of gold equivalent.
Britain unveils progress in high technology combat aircraft project Britain unveils progress in high technology combat aircraft project
Published: 17 Jul 18
The UK unveiled a full-scale mock-up of a sixth-generation combat aircraft on the first day of the Farnborough airshow on Monday. This, described as a “concept aircraft”, is the result of the work of a consortium called Team Tempest, which is made up of British aerospace firms and the Royal Air Force Rapid Capabilities Office. The major companies concerned are BAE Systems, Rolls-Royce, Leonardo UK (the British subsidiary of the Italian Leonardo Group, previously Finmeccanica) and MBDA UK (part of the pan-European MBDA Group). The sixth-generation will be the next generation of combat aircraft. The current leading-edge technology generation of combat aircraft is the fifth-generation, of which only two types, both American, are full operational service: the Northrop Grumman B-2 Spirit bomber and the Lockheed Martin F-22 Raptor fighter. Other fifth-generation types are just entering service (the Lockheed Martin F-35 Lightning II and China’s Chengdu J-20) or are still under development (such as Russia’s Sukhoi Su-57). The mock-up is the first public display of progress being made in Britain’s Future Combat Air System Technology Initiative (FCAS TI), which was launched in 2015. Team Tempest is implementing the FCAS TI, which is being funded to the tune of £2-billion over ten years (2015-2025). Within the team, BAE Systems is responsible for advanced combat air systems and integration, Roll-Royce of advanced propulsion and power systems, Leonardo for advanced avionics, electronics and sensors, and MBDA for advanced weapon systems. However, the programme is most certainly open to participation by international partners.
R2.6bn boost for platinum demand R2.6bn boost for platinum demand
Published: 17 Jul 18
Platinum demand received a R2.6-billion boost on Tuesday when South Africa’s State-owned Public Investment Corporation (PIC) joined forces with Anglo American Platinum (Amplats) to promote the development of innovative and competitive technological uses of platinum-group metals (PGMs). By each committing R1.3-billion to the first venture capital fund of its kind specialising in pioneering technologies and businesses that make use of PGMs, the PIC and Amplats have become cornerstone investors in the new, independent AP Ventures, which is led by a specialist global investment team that previously formed part of Amplats’ earlier investment in PGMs opportunities.
Trade conditions worsen – Sacci
Published: 17 Jul 18
Trade conditions deteriorated further in June, says the South African Chamber of Commerce and Industry (Sacci). Sacci’s Trade Activity Index (TAI), which measures present trade conditions, moved further into negative territory, at 37, compared with 40 in May. It was also 11 points lower than in June 2017.
Equinox Gold sees California project as second cornerstone mine
Published: 17 Jul 18
TSX-V-listed Equinox Gold will significantly increase its future gold production if it develops its project in California, with output from the company’s two cornerstone mines – Castle Mountain, in the US, and Aurizona, in Brazil – estimated at almost 200 000 oz/y by 2020, increasing to 350 000 oz/y. Announcing the outcomes of a prefeasibility study (PFS) for the Castle Mountain project, Equinox Gold CEO Christian Milau said on Monday that the mine increased the firm’s gold reserves by more than 350% to 4.5-million ounces.
Grit to seek LSE listing, raise $120m for acquisitions
Published: 17 Jul 18
Pan-African real estate company Grit Real Estate Income Group plans to list on the LSE. The company, which is focused on real estate investment assets in selected African countries, is already listed on the JSE, as well as the Stock Exchange of Mauritius.
 Transforming public transport hubs key to better city living, says US professor Transforming public transport hubs key to better city living, says US professor
Published: 17 Jul 18
Creating transit-oriented developments (TODs) is one way to build a more sustainable city with lower car use and higher density, says University of California, Berkeley, city and regional planning professor emeritus Robert Cervero. TODs refer to public transport hubs evolving into a “place to be”,  compared with a “place to pass through”.
NT govt reveals fracking framework
Published: 17 Jul 18
The Northern Territory government has unveiled plans to implement the recommendations from an independent scientific inquiry into unconventional hydraulic fracturing, in a bid to unlock reserves. “This is a plan to protect our environment, create local jobs and ensure the actions of government and industry are transparent and accountable,” Chief Minister Michael Gunner said.
ANC support at comfortable 60% – poll ANC support at comfortable 60% – poll
Published: 17 Jul 18
A poll undertaken by global market research and consulting firm Ipsos revealed that the African National Congress (ANC) could enjoy a comfortable margin in next year’s national election as it has a possible support base of 60%, compared with other parties. Ipsos randomly polled 3 738 adult South Africans between April 20 and June 7, as part of its ‘Pulse of the People’ study.
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