Africa Business In The News

Randgold finalises full commissioning of DRC Kibali gold mine

JOHANNESBURG, July 18 – Randgold Resources on Tuesday said completion of two remaining components – an underground shaft system and third hydropower plant – at the Kibali gold mine in the Democratic Republic of Congo (DRC), remain on track despite uncertainty caused by possible changes to that country’s mining legislation. Randgold chief executive Mark Bristow […]

Business In The News South Africa

Competition Commission calls for submissions into public transport market inquiry

JOHANNESBURG, July 17 – Competition between the traditional metered-taxi industry and ride-hailing app Uber will come under scrutiny when the Competition Commission begins a market inquiry into the public passenger transport sector. The market inquiry comes after the Commission received numerous complaints relating to public transport in the country. The metered taxi industry has been […]

Business In The News

Servest Group grows its cleaning business at Clicks

JOHANNESBURG, July 17 – Integrated facilities management company, Servest Group, on Monday completed a contract to clean an additional 40 stores of leading healthcare and pharmaceutical retailer, Clicks, in the Western Cape. This contract means that Servest will now provide cleaning services to all 500 Clicks stores in South Africa. Servest is a 51-percent majority black-owned facilities […]

Business In The News South Africa

Lonmin maintains 3Q production improvement despite stoppages

JOHANNESBURG, July 17 – Lonmin PLC, the third largest primary platinum producer in the world, said on Monday that it had sustained improvement in mining production since March as it announced its results for the third quarter ended 30 June. The Marikana mining operations in North West, including Pandora, produced 2.7 million tonnes during the third quarter, an increase […]

Business In The News South Africa

Zwane halts implementation of controversial Mining Charter, for now

JOHANNESBURG, July 14 –  The Chamber of Mines said on Friday that Mineral Resources Minister, Mosebenzi Zwane, has given a written undertaking that his department will not implement or apply the provisions of the Mining Charter in any way, pending judgement in an urgent interdict application brought by the industry. The 2017 Reviewed Mining Charter has been vehemently […]

Business In The News South Africa

Public Protector’s Absa report ‘reckless’ – Reserve Bank Governor

CAPE TOWN, July 14 – Public Protector Busisiwe Mkhwebane’s report directing Parliament to change the mandate of the South African Reserve Bank (Sarb) was “reckless” and “damaging” to the country. This is according to Reserve Bank governor Lesetja Kganyago in an affidavit filed in the high court in Pretoria after Mkhwebane earlier informed the court […]

Business In The News South Africa

Zuma directs Masutha to act on black lawyers’ complaints

PRETORIA, July 14 -The Black Lawyers Association (BLA) urged President Jacob Zuma to urgently set up a commission of inquiry to establish why they get sidelined on the lucrative South African government’s numerous court cases, which they say are specifically given to white attorneys and law firms. “We demand the following … that the president [Zuma] […]

Business In The News South Africa

Chamber of Mines says it was not consulted on Gigaba’s 14-point action plan

JOHANNESBURG, July 14 – The Chamber of Mines has welcomed National Treasury’s inclusive growth action plan, but raised concerns that the plan does not address the critical challenges facing the mining sector, and that the Chamber was not consulted before the plan was developed. This comes after Finance Minister Malusi Gigaba on Thursday unveiled a 14-point action […]