Mvelaphanda moves into platinum

first_img27 August 2008Black empowered mining group Mvelaphanda Resources has secured funding from Nedbank Capital to increase its stake in Northam Platinum from 22% to 63%, in a R4-billion deal that will create the fourth-largest platinum producer in the world.According to a Nedbank statement last week, the transaction will be done through directly acquiring Anglo Platinum’s 22% stake in Northam Platinum, as well as through the vending-in of a 100% stake in Booysendal – 50% of which was acquired from Anglo Platinum – to Northam Platinum.Mvelaphanda Resources chairman Lazarus Zim said the company was excited by the prospect of becoming a world-class platinum mining business, which will rank behind Anglo Platinum, Impala Platinum and Lonmin, in terms of platinum group metals (PGM) resources.He said that the company was particularly positive about the acquisition of a stake in Booysendal, which still has a life of mine in excess of 100 years. This is as opposed to Northam Platinum, which was only left with a life of mine of 17 years.“Prospects of our continuing presence in the PGM space looks decidedly positive,” said Zim. “This acquisition will strengthen our position both in the western and eastern limbs of the Bushveld where the PGM ore body is mostly found.”A first for platinumAccording to Zim, the acquisition of Booysendal by Northam was a landmark event, creating the first fully integrated, black-controlled platinum mining entity.“This deal reinforces what we envisaged when Mvelaphanda Resources and Afripalm Resources joined forces in 2007, which is to become a pre-eminent black controlled mining house and principal consolidator of key opportunities,” he said.“As we promised at the time, we will continue to unlock value in our operations, diversify our portfolio and achieve a better balance between the existing components of diamonds, gold and platinum as well as pursuing other interests in other commodities.”Nedbank Capital acted as sole arranger and underwriter, as well as advisor to the deal, providing funding of R2.5-billion, with the balance being financed from Mvelaphanda’s own cash resources.Nedbank Capital MD Brian Kennedy said the bank was proud to have structured a deal that would help create an extremely significant BEE player in the platinum mining arena.“This is a continuation of our relationship with Mvelaphanda Resources after Nedbank Capital was involved in financing Afripalm Resources in the acquisition of its stake in Mvelaphanda Resources in 2007,” he said.“This deal marks a historic occasion in the BEE mining space, and we feel honoured to have acted as advisors to the parties involved.”SAinfo reporter Would you like to use this article in your publicationor on your website?See: Using SAinfo materiallast_img read more

Brand South Africa supports Miss Earth South Africa 2015

first_imgJohannesburg, Wednesday 9 September – Miss Earth South Africa will announce its new ambassadors for 2015 at an event on Thursday 10 September at the Palazzo Hotel, Monte Casino. Brand South Africa is proud to be associated with Miss Earth South Africa because of the values the programme espouses. These values include ensuring they build communities and networks based on the principles of sustainability and human development.Brand South Africa Acting Chief Marketing Officer, Sithembile Ntombela: “Like Brand South Africa, Miss Earth aims to ensure that they encourage and uplift the communities within which we work.” Brand South Africa urges South Africans to become active citizens and play their part in addressing environmental, water, energy, conservation and sustainability issues in their communities.Brand South Africa’s Play Your Part Play Your Part programme is a nationwide initiative created to inspire, empower and celebrate active citizenship in South Africa. Its objective is to lift the spirit of our nation by inspiring all South Africans to contribute to positive change.Play Your Part has identified ambassadors who fly the South African flag high by taking responsibility to positively contribute towards nation building and in achieving our vision. Brand South Africa’s Play Your Part ambassadors are ordinary South Africans who have played their part and done the extraordinary for the country.Brand South Africa is honoured to have Catherine Constantinides, South Africa’s young eco-preneur and passionate climate activist, as one of its Play Your Part ambassadors.Catherine is determined to make sure she sees action on the ground and will fight until her continent is one that is food secure, low carbon intensive, economically viable and prosperous, for people and planet. She says: “If we do not urgently address climate change and the affects we can already see taking place, including the displacement of people, water challenges, climate refugees and the food crisis, we further cripple the development of our individual countries and continent.”Brand South Africa would like to congratulate all the 2015 Miss Earth South Africa ambassadors and wish them well on their journey to create an awareness of sustainable development in the country.Media is invited to attend as follows:Date: Thursday 10 SeptemberTime: 14h00 – 16h00Venue: The Rosa, Palazzo Hotel, Monte CasinoRSVP: Please confirm your attendance with Boitumelo Mpete on [email protected] or 011 712 5007last_img read more

The Greenest Beverage? Tap water. But What About Adult Beverages?

first_imgBottles are greener than cans, but is beer the greenest choice?In a quest to discover the most environmentally benign beverage for backyard barbecues, one builder sifted through the options to help us drink greener.I have nothing against water: I make coffee with it, paddle a canoe in it, and I even drink it every day. But it’s not always what my empty hand is looking for when I settle down in the backyard and fire up the Weber. Beer sort of hits the spot at these times. Listening to NPR on the way home from work one day, I heard that recycling 30 beer cans saved the equivalent of a gallon of gas. How many beer bottles, I wondered, would be equivalent to 30 beer cans? I asked my local recycling coordinator who wasted no time in answering me: from an environmental perspective, tap water is my best choice.Tap water wasn’t what I was after, so I refined my query He did some research and we ran the numbers. It turns out that 385 beer bottles have the equivalent embodied energy of 30 beer cans. He pointed out that there was some minimal adjustment needed to account for the transportation cost of imported beer so this calculation would be most accurate if applied to domestic beer in both bottles and cans. Ah-ha! I said, this gives me an environmental rationalization for buying that nice local microbrew!Does this mean I get to invest in a kegerator? Actually he replied, the kegerator idea is a no-go due to the carbon footprint of the refrigerator (regardless of the impact of the increased beer consumption). However, if you consider that there are 22 shots of bourbon in a bottle that likely has the embodied energy content of two beer bottles this gives you an environmental justification for drinking bourbon on the rocks (or mint juleps). If a single beer can equals 12.83 beer bottles it is roughly equivalent to 6 bottles of bourbon in terms of its carbon footprint.I’ll leave it to some one else to assess the relative carbon footprint and green house gas impact of marijuana. That’s just not my cuppa tea.—Michael Chandler is a builder near Chapel Hill, North Carolina. His website is http://www.chandlerdesignbuild.com/ [Ed’s note: for some fun recycling facts go to http://www.oberlin.edu/recycle/facts.html]last_img read more

Indonesia makes 2032 Olympics bid official

first_imgGrace Poe files bill to protect govt teachers from malicious accusations PDEA chief backs Robredo in revealing ‘discoveries’ on drug war SEA Games hosting troubles anger Duterte Tiger Woods, Novak Djokovic, Lindsey Vonn win Laureus World Sports Awards “Indonesia is ready to host the Olympics,” Madang told The Associated Press. “What we need now is support from all the Indonesian people and the international community.”Widodo, who is campaigning for re-election, made a surprise announcement of plans to bid for the 2032 games after the Indonesian cities of Jakarta and Palembang co-hosted the 18th Asian Games in August, and the process has gathered momentum. The Olympics have never been held in Southeast Asia.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesThere were doubts Indonesia could successfully host the Asian Games, an event involving more than 10,000 athletes, but its reasonably smooth execution was praised by the IOC, paving the way for a tilt at even bigger sports events.India is planning to bid for the 2032 games and North and South Korea have confirmed an intention to launch a joint bid. Australia and Russia have also expressed interest. Filipino athletes get grand send-off ahead of SEA Games PLAY LIST 01:27Filipino athletes get grand send-off ahead of SEA Games00:45Onyok Velasco see bright future for PH boxing in Olympics03:04Filipino athletes share their expectations for 2019 SEA Games02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss LATEST STORIES ‘We are too hospitable,’ says Sotto amid SEA Games woes Problems with the 2016 Olympics in Brazil, a developing country that like Indonesia suffers endemic corruption, may count against the chances of the Indonesian bid.By some estimates it cost Brazil about $20 billion to host the Olympics, the kind of bill that is likely to raise objections in Indonesia, despite projections it will be among the world’s 10 biggest economies by 2030 with a population nearing 300 million.Tokyo is hosting the 2020 Olympics. Paris and Los Angeles have already been selected to host the following two games, in 2024 and 2028, respectively.___ADVERTISEMENT FILE – Fireworks explode over the Gelora Bung Karno main stadium during the opening ceremony of the 2018 Asian Games in Jakarta on August 18, 2018. (Photo by Arief Bagus / AFP)JAKARTA, Indonesia — Indonesia has officially joined bidding to host the 2032 Olympics following its success staging the Asian Games last year, the deputy chairman of its national Olympic committee said Tuesday, highlighting the rising ambitions of the giant but perennially underperforming Southeast Asian nation.Muddai Madang said letters from President Joko Widodo and the national Olympic committee were delivered to the International Olympic Committee’s president in Lausanne last week by Indonesia’s ambassador to Switzerland.ADVERTISEMENTcenter_img View comments US judge bars Trump’s health insurance rule for immigrants MOST READ Oil plant explodes in Pampanga town Urgent reply from Philippine ‍football chief Sports Related Videospowered by AdSparcRead Next Private companies step in to help SEA Games hosting Don’t miss out on the latest news and information. last_img read more