Embattled but resilient platinum mining company Lonmin, which is enthusiastically embracing the Sibanye-Stillwater’s offer made to it, did all its stakeholders proud in the fatality-free first quarter of its new financial year by putting in a sturdy operational performance that saw sales rise 9%, refined production soar 17% and tailings retreatment generate hard cash. The 33 000-employee Lonmin, which in recent years has had to stave off challenges ranging from police massacres to community protests and severe cash burn, has irrepressibly taken every possible step to keep itself financially liquid, including entering into synergistic and opportunistic transactions with rival producers.
The newly appointed Eskom board will provide the reassurance markets have been seeking around issues of corporate governance at the power utility, said spokesperson Khulu Phasiwe. Speaking to Fin24 by phone on Monday, Phasiwe explained Eskom and Treasury would be approaching financial institutions to secure R20bn for the state-owned enterprise.
Former Statistician-General Dr Pali Lehohla has joined 22 on Sloane as a research resident adviser, effective March 1. Following a 17-year career as Statistician-General of Statistics South Africa, Lehohla will settle into his new role of training, guiding and mentoring the team of researchers working with start-ups at Sloane.
Two days of high drama in the 2018 Dakar Rally saw Toyota Gazoo Racing South Africa (TGRSA) take second and third spot in the marathon South American race. The race, which concluded on the weekend, was won by Peugeot’s Carlos Sainz and co-driver Lucas Cruz, with TGRSA’s Nasser Al Attiyah and Mathieu Baumel in second place, and team mates Giniel de Villiers and Dirk von Zitzewitz in third place.
Ethiopia's Prime Minister Hailemariam Desalegn has rejected a call by Egypt for World Bank arbitration in a dispute over a hydroelectric dam Addis Ababa is building along its share of the Nile. The two countries are at odds over the construction of the Grand Ethiopian Renaissance Dam, with Cairo fearing the project would restrict waters flowing down from Ethiopia's highlands and through the deserts of Sudan to its fields and reservoirs.