To date, 507 of 517 households have been successfully moved 32km to replacement homes in the new purpose-built suburb of Siyathemba. Negotiations continue with the remaining 10 households on the settlement, but also include deliberations with a much more complicated and unforeseen demographic, referred to as “renters”.
The resources company has donated the land to Gamagara local municipality, which will take over the running of the residential complex when the current management company’s contract expires in 2021. Only 54 units are presently occupied. The resettlement process comes with a price tag of R3-billion, which Kumba CEO Themba Mkhwanazi says is considered an associated cost in maintaining the life of the mine. The current lifespan of the mining operations at Sishen is estimated at 13 years, with the option of extending it to 20 years if current exploration projects — including extending blasting and extraction endeavours around the Dingleton — pans out.
At the launch of the new youth centre in the Northern Cape’s newest living establishment on 16 April 2019, to which thewas invited, the Kumba executive didn’t want to get dragged into specifics around the costings of maintaining the life span status quo, or how the R3-billion allocated to the resettlement project fits into the plan, for that matter.
Property values in Kathu are also generally sky high. Dictated by the market, house prices average around R1.5-million — in the small mining town where finding a place to live is not an easy task, especially for the five households which opted to be bought and had to find alternative lodging outside the suburb, for which Kumba will pay for. Some have even moved out of the region.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK – 2019 ELECTIONS: What the manifestos reveal about the parties’ economic policies (Part 1)Unpacking the manifestos of the three main parties contesting the 2019 general elections – the EFF, DA and ANC – it is hard not to come away feeling a bit underwhelmed.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Monday, April 15: Five Things You Need to Know to Start Your DayGlobal finance leaders are concerned but also confident of rebound, Asian equity markets set to open higher, and Draghi defends Fed against Trump. Here’s what’s moving markets.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Newmont Bondholder Revolt May Put Barrick on Hook for DebtBarrick Gold Corp. could find itself partially liable for $600 million in additional debt if some Newmont Mining Corp. bondholders have their way.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Africa’s Amazon Set for New York IPO as Online Retail Takes OffJumia, Africa's largest online retailer, continues to build its profile in the run-up to its New York Stock Exchange listing. The company has now release its customer numbers for 2018, which jumped 48% to just over four million. Its planning to sell 13.5 million American Depository Shares at $13 to $16, raising as much as $216 million.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Apple Puts Need for 5G Ahead of Legal Fight in Qualcomm DealApple Inc. put its flagship product, the iPhone, ahead of distaste for the way Qualcomm Inc. does business in settling a bitter, two-year legal dispute with the chipmaker.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Rico: Cartoon FridaySo no hope for assisting the SA Electricity Grid then?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South Africa’s Rand Held Back by Political Uncertainty, IMF SaysPolitical uncertainty is probably depressing the value of South Africa rand, according to the head of the International Monetary Fund’s Africa department.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Tiger’s Win Costs FanDuel $2 Million as Sports Books Lose BigTiger Woods’s historic Masters title, cheered by fans and celebrities around the world, was a big loss for sports books in Nevada and New Jersey, suggesting other bookmakers may have lost money too.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Wednesday April 17: Five Things You Need to Know to Start Your DayTrump’s trade negotiations stir alarm, US stocks rise, Indonesia goes to the polls. Here are some of the things people in markets are talking about.
Source: dailymaverick - 🏆 3. / 84 Read more »