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Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Johannesburg - South African diversified miner Exxaro Resources plans to spend R28bn on expansion by 2018 to become the country's top coal producer, Business Day quoted the chief executive as saying.
Exxaro's expansion plans include projects in the country's Waterberg area to the north of South Africa, mooted to become the country's next coal hub after reserves in the Witbank area now used by most coal miners are on course to be depleted.
Projects include a new open pit coal mine at Thabametsi, a brownfield development at its Grootegeluk mine to supply an additional 14 million tonnes of coal to power utility Eskom , a greenfield mine in a joint venture with petrochemicals group Sasol and other downstream projects.
"If you add up all the expected investments in all these projects, you are looking at a total amount in the region of R28bn between now and 2018," chief executive Sipho Nkosi was quoted as saying.
Nkosi said, however, that lack of adequate water and electricity supply as well as rail transport would remain a concern and proper investments in new logistical capacity were required to meet rising demand in the region.
- Reuters