Business In The News South Africa

Pallinghurst Resources takes full control of Australian de-listed Gemfields

JOHANNESBURG, August 4 – South African private equity firm, Pallinghurst Resources, on Friday took full control of Australian de-listed gemstone miner, Gemfields plc and commenced a strategic review to revive the company. Pallinghurst said a thorough review and analysis of the operations, including processes, plans, budgets and financial position was underway. The outcome of this analysis […]

Business In The News South Africa

Unions to march on SAA against poor working conditions and corruption

JOHANNESBURG, August 3 – The National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) have joined forces to march against alleged poor working conditions and corruption at South African Airways (SAA). The unions described the situation at the national carrier as an “escalating crisis”. Numsa’s acting spokesperson, Phakamile Hlubi, […]

Business In The News South Africa

Sibanye to begin consultation to save 7,400 jobs threatened by restructuring

JOHANNESBURG, August 3  – Sibanye Gold advised on Thursday that it will enter into consultation with relevant stakeholders in terms of section 189A of the Labour Relations Act regarding restructuring of its gold operations pursuant to ongoing losses experienced at its Beatrix West and Cooke Operations. Sibanye said approximately 7,400 Sibanye employees at all levels […]

Africa Business In The News

Zwane signs MoU on mineral and upstream petroleum development with CAR

JOHANNESBURG, August 3 – Mineral resources minister Mosebenzi Zwane has signed a Memorandum of Understanding (MoU) with his Central African Republic (CAR) counterpart, Leopold Mboli-Fatrane, which commits the two countries to a cooperation agreement on mineral and upstream petroleum development. The MoU was signed on Wednesday based on the friendship and common interests between South Africa and CAR as Zwane was hosted […]

Business In The News South Africa

Chamber of Mines shocked by Zwane’s alleged moratorium on mining right applications

JOHANNESBURG, August 3 – The Chamber of Mines said on Thursday that the Department of Mineral Resources has instructed all its offices to halt the processing of new mining right or prospecting right applications despite a pending court case and a public consultation process. “It has come to the attention of the Chamber of Mines that […]