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Seifsa, Numsa conclude three-year metals, engineering sector wage agreement
Published: 13 May 24
After three formal engagements, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and trade union the National Union of Metalworkers of South Africa (Numsa) have concluded the terms of a three-year wage agreement for the metals and engineering sector. The agreement is for the period from July 1 to June 30, 2027.
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Death toll in George building collapse rises to 27
Published: 13 May 24
The George municipality has reported that, as at 15:00 on May 13, 25 people still remain unaccounted for following last week's building collapse. The death toll has risen to 27, while 13 people remain in hospital.
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Contractors, sub-contractors battling as late payments accelerate – MBA North
Published: 13 May 24
The construction industry value-chain is at risk of collapsing as shrinking margins, unfair practices and payment issues continue to undermine the sector. This is according to members of the Master Builders Association (MBA) North, who warn that “urgent dialogue and change” are needed to address industry issues and avoid further job losses and bankruptcies.
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Raubex sees 28% bounce in its order book despite challenging environment
Published: 13 May 24
Raubex saw a 28% jump in its order book for the financial year ended February 29, to R25.55-billion, compared with R20-billion in the previous financial year. “This is testimony to our diversified business model,” said CEO Felicia Msiza on Monday as the group released its financial results.
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Anglo rejects BHP's revised £34bn proposal
Published: 13 May 24
Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion.
The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an all-share offer for Anglo, with a requirement to complete two separate demergers of the South African units, Anglo American Platinum (Amplats) and Kumba Iron Ore.
The all-share offer and required demergers will be inter-conditional.
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China takes advantage of cheap gas and coal to rebuild stocks
Published: 13 May 24
China is taking advantage of lower international prices for coal and natural gas to replenish stockpiles of power fuels ahead of another long, hot summer.
Gas imports through the end of April jumped 21% from the previous year, while coal purchases climbed 13%. The increase in coal in particular has defied predictions that imports would moderate from last year’s record-setting pace, and comes after domestic production posted its first quarterly drop since the third quarter of 2020.
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Lexington renews Jelani prospecting right to 2026
Published: 13 May 24
Aim-listed Lexington Gold has announced that the prospecting right owned by Jelani Resources has now been formally renewed until May 29, 2026. This follows on the back of announcements made on May 15 and September 7 last year regarding Lexington’s acquisition of White Rivers Exploration (WRE).
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Goldplat’s third quarter buoyed by strong performance of its Ghanaian operations
Published: 13 May 24
Aim-listed Goldplat’s gold recovery operations in South Africa and Ghana achieved a combined operating profit for the third quarter, ended March 31, of £1.6-million (excluding listing and head office costs and foreign exchange losses), a 10% increase on the operating profit for the third quarter in the previous financial year. During the period, the two recovery operations achieved a combined profit before tax of £890 000, after they incurred £430 000 in interest costs and £350 000 in foreign exchange losses, which mainly related to trading activities.
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Kefi nears construction start at Tulu Kapi
Published: 13 May 24
London-listed Kefi Gold and Copper says the remaining finance syndicate approval process in respect of the Tulu Kapi project, in Ethiopia, is on track for final approvals this month.
The company has started with launch preparations on site ahead of construction, which is earmarked to start by midyear.
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Caledonia starts year with higher output, profit
Published: 13 May 24
Gold miner Caledonia Mining says its production and profit was supported by a favourable gold price in the first quarter of the year, which has continued through April and into May.
The company’s Blanket and Bilboes mines, in Zimbabwe, recorded a 6% increase in production to 17 476 oz, compared with 16 141 oz produced in the same quarter of last year.
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