TEL: +27 (0) 11 622 0908
FAX: +27 (0) 11 622 1312
info@abexsteels.com
Welcome .. Bienvenu .. Karibu .. Khala Wolandiridwa .. Mwalandiridwa .. Mwaiseni .. Chewa .. Tilandile .. Tigashire .. Sethule .. Mauya .. Semukele .. Welkom

PRICE INCREASE NOTICE!!!

Dear Valued Customers,

Please click on the following link for the latest price increase notice:

Price Increase 1st March 2018

Kind Regards,

Ropa Mhlanga

Operations Director – Southern African Region

Anglo takes down SA for sale sign, may even buy

London – Anglo American has raised the possibility that it could start buying assets in South Africa, the latest sign of how much has changed in two years, when the miner was focused on selling.

“We no longer have any for sale sign,” Norman Mbazima, deputy chair of Anglo American’s South African unit, said in an interview on Monday. “It is possible to invest in South Africa. We have got hope right now.”

After a collapse in commodity prices in 2015, the mining blue-chip talked about selling assets in South Africa, the home of its biggest diamond, iron ore and platinum mines. While the company sold some coal and platinum mines, that policy is now dead. Some of the mines are now cash cows for Anglo as commodity prices reach multi-year highs.

“We like everything that we are in right now,” he said. “If there are opportunities to expand in those, we would.”

The company said any purchases in South Africa would have to be competitive, and deliver the right return on investment. Still, the mood in South African mining is starting to change after Cyril Ramaphosa was elected to head the ruling African National Congress.

In Davos, Ramaphosa said urgent action is needed to resolve the impasse between government and business over South Africa’s mining charter.

Anglo’s commitment to South Africa will win support from its biggest shareholders. Billionaire mining executive Anil Agarwal called the country an integral part of Anglo. South Africa’s Public Investment Corporation, the second-biggest shareholder, has also long argued for the creation of a domestic mining champion.

“We have no intentions of spinning off Anglo Platinum to a localised company,” Mbazima said of the company’s platinum unit.

 

Source – Fin24

 

FULL LETTER: Robert Mugabe’s resignation notice

President Robert Mugabe’s resignation letter was read out by Zimbabwe parliamentary Speaker Jacob Mudenda to lawmakers gathered at a conference centre in Harare to discuss an impeachment motion on Tuesday.

 

State House

Harare

Zimbabwe

21 November 2017

The Honourable Jacob Mudenda

Notice of resignation as President of the Republic of Zimbabwe

In terms of the provisions of section 96 (1) of the constitution of Zimbabwe, amendment number 20, 2013. Following my verbal communication with the Speaker of the National Assembly, Advocate Jacob Mudenda at 13:53 hours, 21st November, 2017 intimating my intention to resign as President of the Republic of Zimbabwe, I Robert Gabriel Mugabe in terms of section 96 (1) of the constitution of Zimbabwe hereby formally tender my resignation as the President of the Republic of Zimbabwe with immediate effect.

My decision to resign is voluntary on my part and arises from my concern for the welfare of the people of Zimbabwe and my desire to ensure a smooth, peaceful and non-violent transfer of power that underpins national security, peace and stability.

Kindly give public notice of my resignation as soon as possible as required by section 96 (1) of the constitution of Zimbabwe.

Yours faithfully,

Robert Gabriel Mugabe President of the Republic of Zimbabwe.

December Shut Down 2017

Dear valued customer,

Kindly click on the following link for our Shut Down Letter.

Abexsteels Shut Down Letter 2017

Best regards,

Ropa Mhlanga

PRICE INCREASE NOTICE

Dear Valued Customers,

Please click on the following link for the latest price increase notice:

Price Increase 1st Nov 2017

Kind Regards,

Ropa Mhlanga

Operations Director – Southern African Region

Petra reports strong Q1 performance, despite strike, Tanzania export ban

Despite labour disruptions at LSE-listed Petra Diamonds’ Finsch, Koffiefontein and Kimberley Ekapa Mining (KEM) Joint Venture (JV) operations in late September, CEO Johan Dippenaar says the group achieved a strong start to the 2018 financial year.

Production for the quarter was down 4% year-on-year to 1.05-million carats, mainly as a result of the planned reduction in tailings production at Finsch and the KEM JV.

Run-of-mine (RoM) production, however increased by 17% year-on-year to 842 809 ct, despite the labour disruptions, which reduced RoM production by about 70 000 ct and tailings production by about 10 000 ct.

“The group is continuing its production build-up and it is encouraging to see the increasing contribution of RoM production,” commented Dippenaar.

The Finsch mine’s RoM production increased by 2% year-on-year to 467 795 ct, owing to improved RoM grades as a result of the continued ramp-up of the Block 5 sublevel cave, as well as owing to high-grade RoM surface stockpiles.

RoM production at Cullinan increased by 35% year-on-year to 250 001 ct, owing to the production ramp-up of the new processing plant. The XRL modules of the plant, which recover coarse material greater than 12 mm in size, were put into operation in September. Two diamonds larger than 200 ct have already been recovered.

At Koffiefontein, RoM production decreased by 19% year-on-year to 12 563 ct, as a result of the loss of about 3 000 ct of production during the labour disruption.

Petra on Monday reported that construction of the ore handling infrastructure at Koffiefontein would be completed in the quarter to end December 31, with RoM production to return to planned levels from the second half of the 2018 financial year.

The KEM JV’s attributable production also decreased by 29% year-on-year to 170 014 ct, with RoM treatment having increased as the modifications to the Central Treatment Plantwere completed.

Meanwhile, production at the Williamson mine increased by 66% year-on-year to 85 213 ct.

However, a ban on the export of Petra’s diamonds from Tanzania, which has now been lifted, negatively impacted on the group’s revenues for the first quarter. Revenues decreased by 17% year-on-year to $78.7-million.

The Tanzanian government on September 28 agreed to allow Petra to resume the export and sale of diamonds recovered at the Williamson mine. This followed the seizure, by government officials, of a parcel of diamonds earlier in September, owing to allegations that the company had under declared the value of the diamonds to be exported.

Petra on Monday said it was yet to realise sales from Williamson for the current financial year and that it continued to engage with the Tanzanian government regarding a solution for the 71 654-ct parcel of diamonds that remains blocked for export.

A 40 000-ct parcel of diamonds recovered at the mine has been shipped to Petra’s marketing office for sale in the second quarter of the 2018 financial year.

 

Source: Mining Weekly

Delays at Durban MPT Due to Severe Storm

Dear Valued Customers,

Please click on the following link for the details regarding the delays:

Delays at Durban MPT

Kind Regards,

Management

Rip up charter, provide tax incentives, back junior miners – Maimane

Mining Charter Three should be ripped up, proper tax incentives introduced and junior mining enterprises supported to restore investment in the mining industry, which is a stimulator of the South African economy as a whole, Opposition Democratic Alliance leader Mmusi Maimane said on Wednesday.

Delivering a keynote address on the first day of the fifth Joburg Indaba conference, Maimane said it is an indictment against South Africa and the mining industry that the country’s last significant diamond discovery was at Venetia 40 years ago.

He noted that Canada and Australia had far more listed mining companies than South Africa and the vast majority of these were relatively small mining companies.

He said Johannesburg should be the big mining capital and not Perth, but it was not, because South Africa had shut the door on new mining development through discouraging policy.

New mining developments were virtually non-existent despite thousands of mining rights having been issued to people with no interest or expertise.

“This is how we kill an industry,” he said, adding that in countries other than South Africa investors are able to gain mining right information online.

Ninety per cent of mining students are black and they should be the mining entrants of the future.

In the early eighties, mining contributed 21% to South Africa’s gross domestic product (GDP) but currently both mining and manufacturing have dropped out of the top three, with mining contributing only 5% of GDP.

 

Source: mining weekly

PRICE INCREASE NOTICE

Dear Valued Customers,

Please click on the following link for the latest price increase notice:

Price Increase 1st Oct 2017

Kind Regards,

Ropa Mhlanga

Operations Director – Southern African Region

NUM, Solidarity sign three-year wage agreement with Assmang

Trade unions the National Union of Mineworkers (NUM) and Solidarity have secured a three-year wage agreement with iron-oreand manganese miner Assmang at its operations in the Northern Cape.

Assmang, a joint venture between Assore and African Rainbow Minerals, operates the Khumani iron-ore mine, the Beeshoek iron-ore mine and the Black Rock manganese mines.
The agreement will see lowest-earning mineworkers across the operations receive an 8% increase in the first and second year and 7% in the third year.

The lowest paid employee currently earns R15 284.88 on a total package, which will increase to R16 507.67 on the 8% increase in the first year, the NUM said in a statement on Tuesday.

The agreement also outlined the payment of a one-off R10 000 tax-free cash allowance for the members, an increase in family responsibility leave to five days and maternity and medical-related travel assistance provisions.

Assmang will also pay an underground allowance of R600 a month for the first year, R650 for the second year and R700 for the third year.

 

Source: Mining Weekly