Parliament to probe mining rights issue

Parliament's portfolio committee on trade and industry will in the next two weeks begin investigating mining rights issues concerning ArcelorMittal SA, Kumba Iron Ore and Imperial Crown Trading.

Committee chairman Joanmarie Fubbs said it would call in experts from the Competition Commission as well as manufacturing owners, economists, academics and other key people to share views on the strategic iron ore and manufactured steel sector.

Kumba is contesting the awarding of prospecting rights to ICT in the courts after the company was awarded the rights over the 21.4% interest in the Sishen iron-ore mine that was previously held by AMSA. - I-Net Bridge

Garage attendants 'intimidated'

ISOLATED cases of the intimidation of fuel service station workers who had not joined the motor industry strike had been received, Fuel Retailers Association CEO Reggie Sibiya said yesterday.

"We have experienced pockets of intimidation, mainly in the East Rand area of Gauteng," he said. "We've had a discussion with the National Union of Metalworkers of South Africa on the matter, and they've given us their word that they will address it."

Some 4600 fuel service stations across the country employ 56000 workers. Most of these workers are members of Numsa. - I-Net Bridge

New business rises 15% for life insurers

SOUTH African life insurers reported a 15% increase in new individual business for the first half this year versus that of the corresponding period last year.

In this first half, new individual premium income of R32.8-billion was collected, while R28.5-billion was received in the first half of last year. Compared with the second half of last year, however, the long-term insurance industry experienced a slight drop of 2% in new individual business.

Peter Dempsey, deputy CEO of the Association for Savings and Investment South Africa, said the slight decline in new business is as a result of lower sales. - I-Net Bridge