Sibanye Gold won’t capitulate; prepared for three month strike, has resources for longer – Froneman

South Africa’s gold mining industry has been its own worst enemy. As richer seams were worked out and profit margins squeezed, corporate managers rarely grabbed the nettle. Instead of adapting to new realities by addressing the underlying issue of continuously declining productivity, every year they buckled to excessive trade union demands. So the labour:capital ratio … Read more

SA’s platinum sector’s outlier: A company that’s expanding and holding costs

Royal Bafokeng Platinum is near the epicenter of South Africa’s labour relations minefield . But in contrast to its peers, the Black owned and run business has negotiated skillfully enough to avoid any explosions. As CEO Steve Phiri explains in this interview, that’s been helped by the dominance which the more mature NUM has at … Read more

Sandton penthouse, a snip at R60-m – with pics of what it looks like inside

“Paul is a real estate novelist…” sang Billy Joel in his classic Piano Man, the perfect description for those who turn wrecks into renovator’s dreams; broom cupboards into cosy. But at R60m for a penthouse, you might expect more than a line opening with “Refrigerated walk-in wine room, 4 palatial bedrooms with the wooden floor … Read more

GPI demands closer look: dominance in LPMs and strong moves into fast food

There’s been a lot of noise around talented jockey S’Manga Khumalo becoming the first black to pilot a winner of the Vodacom Durban July. Rightly so. But in the excitement, an even bigger breakthrough is forgotten – 2011’s J&B Met when the Hassen Adams-owned Past Master made him  the first black owner to win South Africa’s … Read more