SA mining industry sees a turnaround in financial performance amid a challenging operating environment
2017 was another challenging year for South Africa’s mining industry in light of a decrease in dividends and market capitalisation, various retrenchments across the industry, and marginal increases in taxes paid. However, spot price increases for bulk commodities supported the industry and resulted in a return to profitability after the first substantial increase in revenues […]
Tanzania’s Mining Giant Acacia to Lay Off Workers – Report
Acacia Mining is laying off about 100 people before the end of this year. That is happening at a time when the company is planning to close down its Buzwagi Gold Mine. An internal memo, released on May 15 (a copy of which The Citizen has obtained), quotes Buzwagi Gold Mine general manager Stewart Hamilton […]
Zimbabwe has incredible potential
ZIMBABWE is poised to be one of the fastest growing economies in Africa and will also become the most advanced in a very short space of time, but only if we have leadership which understands the concept of stewardship. I have been analysing Zimbabwe’s potential in various economic sectors including agriculture, mining, energy and infrastructure […]
Salvaging NRZ, Ziscosteel and Hwange Colliery from total collapse
IN the last three instalments, I have endeavoured to show the historical background and importance of NRZ, Ziscosteel and Hwange Colliery to the economy and its industrialisation bid. I went on to look at the problems these interrelated companies have faced and so in this instalment, I look at the solutions to some of the […]
S.African Govt to Conduct Pre-Colonial Land Audit to Transform The Historic Patterns of Ownership, Use And Occupation
Rural Development and Land Reform Minister Gugile Nkwinti says government will conduct a colonial land audit to transform the historic patterns of ownership, use and occupation. The Minister said this when he participated in day one of the debate on the State of the Nation Address at the National Assembly on Tuesday. He said this […]
Quantum Global named Best Investment Company Angola 2016
African focused investment firm Quantum Global Group were announced as the winners of the Global Banking and Finance Review award for Best Investment Company Angola 2016. The award, which recognises excellence globally within the financial community, operates a strict assessment criterion measuring investment strategies, first-class client-advisor relations through active management and comprehensive services as well […]
Africa Business Forum in Addis Ababa on the 1st of March 2017:10 million views join Africa’s largest network of CEO’s
A global community of 10,000 professionals, 20,000 registered international companies, 60,000 social media followers. 10 million views join Africa’s largest network of CEO’s The panel topics at the 5th Africa Business Forum represent the areas of Finance & Capital Investment, ICT, Agriculture & Mining, Power & Energy, Consumer Goods & General Trade, Logistics & Aviation, […]
DHL Enters Strategic Partnership with Ambatovyin Madagascar
DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL Group , has entered into an initial three-year Global Freight Forwarding agreement with Ambatovy, a joint venture between Sherritt International Corporation, Sumitomo Corporation and Korea Resources Corporation. This agreement was secured and will be managed by the division’s Industrial Projects team which […]
South Africa’s Mining Industry Sees Steep Decline In Financial Performance
The 2015 financial year has proved to be extremely challenging for South Africa’s mining industry. Local cost pressures, labour action, and a continuing downswing in commodity prices have resulted in shrinking margins and impairment provisions. Mining companies are grappling to improve productivity in order to address the demanding global and local mining environment. These are […]
Approval for world’s biggest coalmine overturned by Australian federal court
The federal court has overturned the Abbott government’s approval of Australia’s largest proposed coal project, Adani’s Carmichael mine in north Queensland. The court has ruled the environment minister, Greg Hunt, ignored his own department’s advice about the mine’s impact on two vulnerable species, the yakka skink and the ornamental snake. The decision leaves Adani, which […]
