Consulting analysts in tomorrow’s commodities and technologies

News

SOUTH AFRICA: Platinum sector seals pay deal

  • Date: 17-11-19
  • Category: SOUTH AFRICA
  • Source: Business Live

The world's largest platinum producers have sealed a pay agreement with the sector's biggest labour union in SA, concluding negotiations that started in July and putting workers' remuneration on the back burner for the next three years.

View full story

SOUTH AFRICA: Moody’s changes SA’s outlook to negative from stable

  • Date: 02-11-19
  • Category: SOUTH AFRICA
  • Source: Eye Witness News

JOHANNESBURG - Ratings agency Moody’s has kept the country one notch above investment grade but has changed the outlook from stable to negative.

View full story

SOUTH AFRICA: NUM member shot dead in Marikana as Platinum Belt tensions heat up

  • Date: 01-11-19
  • Category: SOUTH AFRICA
  • Source: Daily Maverick

Kaizer Lungisa Madiba, a member of the National Union of Mineworkers (NUM) and Sibanye-Stillwater employee, was shot and killed on Friday morning in Marikana, by unknown assailants, NUM has confirmed. This suggests tensions are rising again on the Platinum Belt.

View full story

SOUTH AFRICA: Confusion over platinum wage talks and murder on the Platinum Belt

  • Date: 01-11-19
  • Category: SOUTH AFRICA
  • Source: Daily Maverick

There is more confusion than clarity as wage talks in the crucial platinum mining sector approach a tipping point. In the case of Amplats, the sides are very close, with sources saying NUM and Uasa have accepted its latest offer in principle. But Amcu is keeping its cards close to its chest. And a NUM member has just been gunned down.

View full story

SOUTH AFRICA: Eskom power plan; Rand fizzles; unemployment high; Sibanye eyes NY; scientists discover early man in Bots

The government issued its big plan to save Eskom, but the details were a disappointment for many hoping to see faster, firmer action. In particular, Eskom’s debt burden hasn’t been dealt with, worry analysts. As Bloomberg reports, the plan includes exposing Eskom to greater competition, lowering fuel costs, increasing renewable-energy output and selling non-core assets. A policy paper released by Public Enterprises Minister Pravin Gordhan envisions Eskom Holdings SOC Ltd. relinquishing its almos

View full story

SOUTH AFRICA: Water restrictions hit PGM belt

JOHANNESBURG - South Africa's platinum producers have been asked to reduce water usage, following restrictions that were implemented by the Rustenburg Municipality in the North West this month.

View full story

SOUTH AFRICA: The lost platinum sector jobs are not coming back

  • Date: 24-10-19
  • Category: SOUTH AFRICA
  • Source: Daily Maverick

Should companies bear the burden of protecting unprofitable jobs, or should the government bear the burden of protecting the people? This question is now palpable in the platinum sector. It’s a hard question because it’s unlikely that jobs in the sector will return. Ultimately, the government should shoulder the burden on re-skilling because training is demand-driven, not supply-driven.

View full story

SOUTH AFRICA: Eskom: We paid Deloitte R60-million for three weeks of work in two corrupt contracts

  • Date: 23-10-19
  • Category: SOUTH AFRICA
  • Source: Daily Maverick

Eskom implies in court papers that its own employees may have stolen McKinsey’s ideas and offered them to Deloitte, which then charged Eskom inflated fees for their implementation. Of course, this is not to say McKinsey might be a victim of corruption. Quite the contrary. It might just be a case of there being no honour among thieves — the scammers being scammed.

View full story