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

exports

PRICE NOTICE INCREASE!!!

Dear Valued Customers,

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

Price Increase Notice

Kind regards,

Ropa Mhlanga

Operations Director – Southern African Region

PRICE NOTICE INCREASE!!!

Dear Valued Customers,

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

Price Increase Notice

Kind regards,

Ropa Mhlanga

Operations Director – Southern African Region

LONG WEEKEND AHEAD!!!

Dear Valued Customer,

Abeyla Exports would like to inform you, that we will be closed for business on 9th and 10th August 2018 for Women’s Day in South Africa.

We will resume business on Monday the 13th August 2018.

Abeyla Exports wishes you and your family safe travels and a restful weekend.

Thank you for your continued support.

PRICE INCREASE NOTICE!!!

Dear Valued Customers,

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

Price Increase Notice

Kind regards,

Ropa Mhlanga

Operations Director – Southern African Region

PRICE INCREASE NOTICE!!!

Dear Valued Customers,

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

Price Increase Notice

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

 

Kenya reviews mining laws as industry struggles to grow

NAIROBI – Kenya is reviewing its mining code, a year after enacting new legislation, as it seeks to attract investment into an industry that’s barely grown over the past five years.

The government is working with the UK Department for International Development-funded Extractives Hub to come up with a revised law that balances investor returns with government-revenue needs and international best practice, Mines SecretarDan Kazungu said. The review is expected to be submitted to the ministry in the next few weeks, he said.

“We want to be attractive, but we also want to get the most out of our resources, based on the spirit of win-win,” Kazungu said in an interview June 30 in the capital, Nairobi. “The investor must get a good return on their investment, but win for government, and win for the community as well.”

Mining companies are facing similar legislative disruption in other African countries. In South Africa, the main industry lobby group is going to court to challenge new rules that seek to give the black majority a bigger stake in the country’s mineral wealth. Tanzania’s parliament is debating new laws that will allow it to renegotiate contracts, while the Democratic Republic of Congo plans to overhaul its mining code to increase the state’s share of revenue from the industry.

Mining contributed 1.1% to Kenya’s total gross domestic product in 2016, compared with 1% in 2012, according to data published by the Kenya National Bureau of Statistics. The country has lagged behind neighbours like Tanzania, where the industry contributed about 4.8% to GDP in 2016, according to the country’s statistics agency.

MINERAL ROYALTIES
Kenya’s existing code imposes royalty rates ranging from 1% of the gross sales value of industrial minerals such as gypsum and limestone, to 5% for gold, 8% for coal, 10% for titanium ores, niobium and rare-earth elements, and 12% for diamonds.

Kenya last reviewed its mining royalties in 2013, when then-Mines Minister Najib Balala cancelled all mining licences and raised royalties.

The Treasury is working on a new income tax act, as part of its long-running review of tax legislation, that is receiving “considerable” input from the Mines Ministry, Kazungu said. Issues being addressed include cross-border mineral trading, he said.

Corporate income tax rates for mining firms operating in Kenya vary from 30% for companies domiciled in the East African country to 37.5% for non-residents.

“We obviously are starting from the position that we want to be competitive,” Kazungu said. “Investors have options. If you frustrate them here, they will probably go somewhere else.”

Kenya is the world’s third-biggest producer of soda ash, used to make glass, and ranks seventh in output of fluorspar, used in steel, according to the US Geological Survey. It also has deposits of rubies and sapphires.

 

Source: Mining Weekly

Sibanye says production resumes at strike-hit Cooke mine

JOHANNESBURG – Production has resumed at the Cooke mine of South African precious metals producer Sibanye Gold following the conclusion of a wildcat strike at the operation which erupted almost a month ago, a company spokesperson said on Monday.

The strike, which saw incidents of violence aimed at miners who did not support it, was sparked by worker resentment at Sibanye’s drive to root out illegal miners, which included the sacking of employees for collusion and a ban on taking food into the shafts.

Last week the company said that 461 illegal miners had been arrested at Cooke since the strike began after they were forced to come to the surface because the stoppage deprived them of sources of food and water provided by employees.

 

Source: Mining Weekly

New Mining Charter a catalyst for more inclusive economy, says Zwane

JOHANNESBURG – Mineral Resources Minister Mosebenzi Zwane has said the controversial 2017 Mining Charter gazetted last week was meant to be a catalyst that provides practical expression to the country’s goal of a more inclusive economy.

“We encourage the young people who are the future of this country to embrace the Mining Charter by exploiting the opportunities to be unleashed by this instrument of change,” Zwane said.

“We will be embarking on provincial roadshows in the next two weeks to raise awareness and to take the Charter to the people.”

Zwane said this when he was tabling the R1.779 billion Budget Vote of the Mineral Resources Department in the National Council of Provinces on Wednesday.

The reviewed Mining Charter has caused a lot of uncertainty for stakeholders and the markets by setting new black ownership targets for the industry.

The Chamber of Mines vehemently rejected it, saying that the department had not held meaningful consultations before the introduction of some of the items, and thus it would approach the courts to interdict its implementation.

The targets include new mining rights, holders having 30% black ownership to be shared among employees, communities and black entrepreneurs. Mining rights holders who have complied with the previous target of 26% have to “top up” to 30% within 12 months.

Those applying for prospecting rights would be required to have a “minimum of 50% plus one black person shareholding”. These shareholders must have voting rights.

The National Union of Mineworkers (NUM), on the other hand, welcomed the reviewed Mining Charter, saying that it appreciated the increase from the initial 26% to the 30% minimum BEE shareholding in the industry.

Zwane said the majority of the people of South Africa who make up 90% of the population remained excluded from the economy. He said the economy remained lopsided, unequal and non-inclusive because of the legislative framework.

Zwane said this was a huge detriment to South Africa’s socio-economic growth efforts, adding that the need for radical economic
transformation was more imperative than ever before because it sought to redress the institutionalised monopoly of the economy.

“Economic reforms are needed to ensure broader and inclusive participation to enable the attainment of a far more inclusive and competitive economy,” Zwane said.

“Our primary legislation, the Mineral and Petroleum Resources Development Act (MPRDA), is designed to facilitate easier access to the minerals beneath the soil by the people of South Africa.

“This piece of legislation is being strengthened in order to ensure that the majority of South Africans benefit from the country’s mineral resources sector.”

Over R900 million of the allocated R1.779 billion will be transferred to the department’s entities, who are responsible for work in research and development, skills development and beneficiation.

Zwane also said the rehabilitation of derelict and ownerless mines was ongoing, with a total of 45 sites rehabilitated in Limpopo and KwaZulu-Natal in the previous financial year.

Source : Mining Weekly

South32 awards R158m coal contract to 100% black-owned mining firm

JOHANNESBURG – Diversified mining company South32 has awarded a three-year, R158-million contract at the Wolvekrans Middelburg Complex to 100% black-owned Modi Mining, which aims to source up to 90% of its labour from the nearby communities.

The award marks an advance on the ASX- and JSE-listed company’s plans for a more inclusive supplier landscape.

“Transformation is central to our efforts to make a meaningful contribution to the social and economic development of South Africa,” said South32 president and COO Africa Mike Fraser in a release to Mining Weekly Online.

In an Investing in African Mining Indaba address in February, Fraser emphasised the need for a supportive legislative, regulatory and administrative environment for inclusive growth solutions to realise their full potential.

He expressed the view at the Indaba that while mining still represented a significant vehicle for driving inclusive growth, it remained legislatively challenged, with above-inflation costs rendering high-quality resources less accessible.

“If we don’t get on the same playing field and face the same goal, then regardless of the country’s natural endowments, South Africa’s mining industry is at risk of not realising its potential,” Fraser warned in his pre-Mining Charter Three address.

The triple-listed South32, with operations in Australia, Southern Africa and South America, produces coal, manganese ore, manganese alloy and aluminium locally.

Source : Mining Weekly