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Tribunal confirms Plasser’s R8.43m settlement with Competition Commission
Published: 22 Feb 18
The Competition Tribunal has confirmed an R8.43-million settlement agreement between railway construction and maintenance company Plasser South Africa and the Competition Commission.    On February 2014, the commission initiated a complaint against Lennings DEC Rail, a subsidiary of Aveng Africa, and Plasser over allegations of market division and cover pricing arrangements, which resulted in collusive tendering.   Plasser South Africa had admitted to colluding with Lennings in respect of tenders for railway construction and maintenance issued by Transnet between 1997 and 2013. The companies agreed to allocate railway construction and maintenance tenders among themselves.   Lennings had been granted leniency in line with the commission’s corporate leniency policy.
Jabu Moleketi nominated as PPC chairperson
Published: 22 Feb 18
South African cement producer PPC said Jabu Moleketi has been nominated for the position of chairman of the board to succeed its current chairman Peter Nelson, as it aims to align the board with its strategic priorities. Moleketi is currently chairman of mobile phone network operator Vodacom Group and has served on numerous boards such as the Development Bank of Southern Africa, Brait SE, Remgro, Nedbank Group and MMI Holdings.
Families of slain Marikana miners call on Ramaphosa to turn his promises into action Families of slain Marikana miners call on Ramaphosa to turn his promises into action
Published: 22 Feb 18
Following President Cyril Ramaphosa’s promise of atonement for the Marikana massacre, 36 families of the striking miners who were killed have said that reparations should include a formal apology from the police minister and criminal charges against the police officers involved. During Ramaphosa's response to the debate over his first State of the Nation Address (Sona) this week, he said he was determined to play whatever role he could in the process of healing and atonement in relation to the Marikana massacre.
Tribunal approves sale of Genrec to Southern Palace
Published: 22 Feb 18
The Competition Tribunal has unconditionally approved Southern Palace Group’s (SPG’s) acquisition of Genrec from Murray & Roberts (M&R). M&R in October last year agreed to sell Genrec to SPG for R185-million.
De Beers sets higher output target for 2018
Published: 22 Feb 18
Global diamond miner De Beers has set a production target of as high as 36-million carats for 2018. In its 2017 results announcement the Anglo American subsidiary reported a production guidance of 34-million carats to 36-million carats, which compares with 33.45-million carats produced in 2017.
Solidarity still seeking payment for former Aurora employees from liquidators
Published: 22 Feb 18
Trade union Solidarity on Thursday raked up old grievances when it directed a letter to the joint liquidators of Aurora Empowerment Systems expressing its dissatisfaction with the delays in payment to its members and other former Aurora gold mineworkers. General secretary Gideon du Plessis noted that those employees had already submitted their claims in the prescribed format but they were still waiting for compensation. "Our members are at their wit's end, are despondent and have been under tremendous financial pressure since March 2010," he said.
Afrox rises above weak environment, achieves strong FY17 results Afrox rises above weak environment, achieves strong FY17 results
Published: 22 Feb 18
JSE-listed African Oxygen (Afrox) on Thursday reported yet another year of strong results, with revenue for the 12 months to December 31 up 6% to R5.69-billion. Headline earnings a share rose by 32.3% year-on-year to 201c and basic earnings a share by 30.7% to 203.6c.
Avesoro set to acquire $10.3m in heavy mining equipment
Published: 22 Feb 18
TSX- and Aim-listed Avesoro Resources’ Bea Mountain Mining subsidiary has entered into equipment finance agreements to acquire $10.3-million in heavy mining and additional auxiliary equipment for the New Liberty gold mine, in Liberia. The equipment finance facility agreements with Mapa İnşaat ve Ticaret will allow for the purchase of two Komatsu PC1250 excavators, eight Komatsu HD785 haul trucks and auxiliary support equipment, including a Komatsu GD655 grader and Komatsu D155A 6R dozer.
AfriForum, WSSA implement emergency water plan in Cape Town
Published: 22 Feb 18
Civil rights organisation AfriForum and Water Shortage South Africa (WSSA) have teamed up to implement an emergency water plan – the establishment of emergency water points in Cape Town to ensure the vulnerable have access to water should Day Zero occur. Three water points are planned across the city, with the first being set up at AfriForum’s sister organisation Solidarity Helping Hand’s donation offices in Cape Town, said AfriForum head Marcus Pawson.
Finnish authority obliges Koncar to launch takeover bid for Afarak
Published: 22 Feb 18
The Finnish Financial Supervisory Authority (FIN-FSA) has obliged Afarak CEO Danko Koncar to launch a takeover bid for Afarak Group shares, and imposed a running conditional fine to enforce the obligation.   LSE- and Nasdaq-listed Afarak on Thursday published a statement issued by the FIN-FSA, which states that the authority considers that Koncar and entities controlled by him have acted together with Hino Resources, Finaline Business and Koncar's spouse Jelena Manojlovic to exercise control in Afarak.
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