Magnus News Wrap

Aug

27


The steel industry is one which we know and love so well for many reasons. The main reason for this is the fact that our world and the way humanity moves forward is designed and determined by steel. Steel is the integral part of our make-up as human beings, for some of us steel is a very part of us. This makes life quite difficult when walking through the security at an airport, but that’s for you and your steel kneecaps to worry about.

This is why we love to bring you the steel news this week, and every week. Remember that if you need a quicker fix then this Wednesday wealth, join us on LinkedIn, where we try to deliver news as it happens.

Platinum mineworkers at Lonmin's mine in Marikana after the resolution of the five-month strike in the sector. Photograph: Denis Farrell/AP

Platinum mineworkers at Lonmin’s mine in Marikana after the resolution of the five-month strike in the sector. Photograph: Denis Farrell/AP

Platinum producer Lonmin to shed 20% of its South African workers
Lonmin aims to increase profits after lengthy strike by closing at least four of the company’s 11 shafts…(read more)

South Africa’s Mandela-Zuma Mining Case Postponed Until March
A civil case against directors of collapsed South African miner Aurora Empowerment Systems Ltd., including the grandson of Nelson Mandela, has been postponed until March, lawyers said…(read more)

State team ponders another Eskom rise
ESKOM may be pushed to request a further electricity tariff increase for the next three years, as a key part of the immediate solution to its financial crisis…(read more)