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New-look Kyalami to host first race in October

By: Irma Venter     Updated 4 hours ago The Kyalami Grand Prix Circuit on Friday announced that the first race event to be held on the refurbished, new-look track would take place from October 21 to 23. The October race meeting would form part of the Motorsport South Africa Extreme Festival National Racing Roadshow, and would feature... 

New-look Kyalami to host first race in October

DTI hopeful of continental free trade area agreement conclusion in two years

By: Natasha Odendaal     Updated 1 hour 44 minutes ago South Africa’s Department of Trade and Industry (DTI) is hopeful of concluding the continental free trade area agreement within two years to facilitate Africa-wide ease of trade among country peers. Speaking on the final day of the Southern African Metals and Engineering Indaba, held in Sandton,... 

DTI hopeful of continental free trade area agreement conclusion in two years
Photo by Duane Daws
DTI chief director for Africa multilateral economic relations Wamkele Mene

SA won't end up like Venezuela – Gordhan

By: News24Wire      Updated 5 hours ago South Africa will not turn into “another Venezuela”, Finance Minister Pravin Gordhan said in Parliament on Thursday. “We are miles away from Venezuela. We are a well-managed fiscus,” Gordhan said at the end of a long debate on South Africa's economy. 

SA won't end up like Venezuela – Gordhan
Finance Minister Pravin Gordhan

Audi, VW owners happiest new-car buyers, shows survey

By: Irma Venter     Updated 4 hours ago Audi and Volkswagen new-car buyers are happiest with their purchasing experience, while much the same is true for new Isuzu, Nissan, Toyota and Volkswagen light commercial vehicle (LCV) owners in South Africa. The newest annual Ipsos customer satisfaction survey also awarded Audi the top customer... 

Audi, VW owners happiest new-car buyers, shows survey

Disused Saldanha quarry emerging as new liquid petroleum gas hub

By: Dylan Slater     Updated 6 hours ago A liquid petroleum gas (LPG) terminal and import infrastructure is being constructed by energy infrastructure company Sunrise Energy in Saldanha Bay, in the Western Cape, to curb historical LPG shortages and meet potential future requirements for gas-fired power plants and other industrial energy... 

Disused Saldanha quarry emerging as new liquid petroleum gas hub

Bruce Cleaver new De Beers CEO

By: Martin Creamer     Updated 5 hours ago Bruce Cleaver, 51, is the new CEO-designate of De Beers. He will take over from Philippe Mellier on July 1. After a half-decade at the helm, Mellier, who is ten years Cleaver’s senior, has honoured his commitment to step down as CEO after five years. 

‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge

By: Terence Creamer     26th May 2016 Government would, within weeks, finalise a “fair pricing” agreement with steel producer ArcelorMittal South Africa (AMSA) and establish a “steel committee” to monitor implementation of the formula, which would be based on a basket of selling prices in Europe, Asia and North America. Department of... 

‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge
Photo by Duane Daws
DTI deputy director-general for industrial policy Garth Strachan

Metals sector forfeiting billions as imports capture 55% domestic market share

By: Terence Creamer     26th May 2016 The share held by South African metals and engineering producers of the domestic market fell to just 45% last year as imports continued to rise, representing a material decline from a peak of over 65% in 2002. In fact, Steel and Engineering Industries Federation of Southern Africa chief economist... 

Huge Group lifts FY headline earnings 45%

By: Anine Kilian     Updated 1 hour 37 minutes ago The headline earnings a share of JSE-listed Huge Group increased by 45% year-on-year to 18.5c for the year ended February 29. Revenue increased by 6% to R216.5-million, compared with R204.6-million in the prior period. The group’s Huge Telecom division was its biggest revenue and profit generator. 

Huge Group lifts FY headline earnings 45%

Truck market to drop 13% in 2016; 2017 to offer little reprieve – ITSA

By: Irma Venter     26th May 2016 The South African new-truck market will probably drop 13.2% in 2016, to 26 500 units, compared with 2015, says Isuzu Trucks South Africa (ITSA) COO Craig Uren. Next year holds little promise for recovery, with the market currently forecast at around 27 500 units or less, he adds. 

Truck market to drop 13% in 2016; 2017 to offer little reprieve – ITSA
Craig Uren

mLab partners with CSIR to foster mobile health development

By: Anine Kilian     Updated 1 hour 22 minutes ago Mobile solutions laboratory mLab Southern Africa has joined forces with the Council for Scientific and Industrial Research (CSIR) to stimulate more open innovation and development within the mobile health (mHealth) and wellness sector. The partnership, announced Friday, would include a number of... 

mLab partners with CSIR to foster mobile health development

Gibb upgrades Mkuze water treatment facility

By: Anine Kilian     26th May 2016 The northern KwaZulu-Natal town of Mkuze’s water treatment facility will be upgraded by engineering firm Gibb, resulting in a larger output of clean water and improved water quality. Gibb announced on Thursday that the upgrading of the plant was earmarked to unlock growth and development within... 

Gibb upgrades Mkuze water treatment facility

Report finds World Heritage sites threatened by climate change

By: David Oliveira     26th May 2016 Climate change is fast becoming one of the most significant risks for World Heritage sites, according to a report released by the United Nations Educational, Scientific and Cultural Organisation (Unesco), the United Nations Environment Programme and the Union of Concerned Scientists (UCS).... 

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Wind power potential in South Africa on par with solar – CSIR 

By: Anine Kilian     26th May 2016 The potential to produce electricity from wind turbines in South Africa is more widely spread than initially thought, a study by the Council for Scientific and Industrial Research (CSIR) has determined. The study conducted by the CSIR in collaboration with the South African Energy Development... 

Wind power potential in South Africa on par with solar – CSIR

Repp, Opic team up for renewable-energy project development

By: Creamer Media Reporter      26th May 2016 The Renewable Energy Performance Platform (Repp) and the US development finance institution Overseas Private Investment Corporation (Opic) have inked a memorandum of understanding that supports the development of renewable-energy projects in sub-Saharan Africa. The parties would jointly identify... 

Repp, Opic team up for renewable-energy project development

Sasol begins drilling of Mozambique PSA licence

By: Anine Kilian     26th May 2016 Drilling is under way at Sasol’s production sharing agreement (PSA) licence in Inhambane province, Mozambique, in terms of its field development plan (FDP), which was approved earlier this year,  the petroleum giant announced Thursday. Adjacent to Sasol’s current producing petroleum production... 

Sasol begins drilling of Mozambique PSA licence

Transnet launches bursary drive

By: Anine Kilian     26th May 2016 State-owned Transnet has invited eligible students to apply for 171 bursaries, as well as for a training programme for chartered accountants.   This was in line with the company’s commitment to expand and strengthen its skills base, with a particular focus on scarce skills in the engineering and... 

Transnet launches bursary drive

Vukile delivers 7% growth in FY distributions

By: Anine Kilian     26th May 2016 JSE-listed real estate investment trust (Reit) Vukile Property Fund grew its distributions for the year ended March 31 by 7% to 146.35c a share. Locally, most of Vukile’s activity was inward focused, improving vacancies across its portfolio from 4.6% to 3.9% of gross lettable area.   In addition,... 

Vukile delivers 7% growth in FY distributions
Vukile CEO Luarence Rapp

Cabinet optimistic about ratings prospects

By: African News Agency      26th May 2016 Government was optimistic about South Africa’s prospects ahead of a review by ratings agency Standard & Poor (S&P) being published next week, Minister in the Presidency Jeff Radebe said on Thursday. Briefing journalists on cabinet’s fortnightly meeting, Radebe said government was confident it had... 

Cabinet optimistic about ratings prospects
Photo by Duane Daws
Minister in the Presidency Jeff Radebe

Democratic Alliance wants AG to probe fuel stock sale

By: African News Agency      26th May 2016 The Democratic Alliance will ask the Auditor-General to investigate the Strategic Fuel Fund’s sale of most of the country’s crude oil stock pile without permission from National Treasury. DA MP Pieter van Dalen said the sale of ten-million barrels of crude breached section 54 (2d) of the Public... 

Competition Commission sets sights on paper packaging companies

By: Creamer Media Reporter      26th May 2016 The Competition Commission on Thursday said it was investigating packaging paper products producers Mpact and New Era Packaging over allegations of collusion. A search and seizure operation of the parties’ Gauteng and Free State premises got under way on Thursday after warrants were obtained from... 

Competition Commission sets sights on paper packaging companies

Pan African raising cash for BEE toughening, funding headroom

By: Martin Creamer     26th May 2016 Gold-, platinum- and coal-mining company Pan African Resources told shareholders on Thursday that it would be raising equity capital to cement its black economic-empowerment (BEE) compliance and provide it with financial headroom for swift access to organic and acquisitive growth opportunities.... 

Pan African raising cash for BEE toughening, funding headroom
Photo by Duane Daws
Pan African CEO Cobus Loots

Fitch warns South Africa of 'quick fixes' in run up to local elections

By: Reuters     26th May 2016 South African authorities should avoid populist measures such as introducing a minimum wage in the run up to local elections in August, ratings agency Fitch said on Thursday. Fitch, which rates the debt of Africa's most industrialised country at BBB-, one notch above speculative grade, is... 

Fitch warns South Africa of 'quick fixes' in run up to local elections

South Africa sold 10m barrels of oil to traders in December

By: Reuters     26th May 2016 South Africa defended the sale of ten-million barrels of crude oil from its strategic reserves at below market prices in December, saying on Thursday it still had reserves for 90 days. The state-run Strategic Fuel Fund (SFF) sold ten-million barrels of crude at $28 a barrel to a unit of Glencore,... 

Esor returns to FY profitability

By: Natasha Odendaal     26th May 2016 Civils and construction group Esor on Thursday posted a return to profitability for the year ended February 29, 2016, after a “painful” restructuring that set the JSE-listed group on a more stable path for recovery and growth. Esor swung to a profit of R3.7-million for the year under review, from... 

Famous Brands buys Western Cape potato processor

By: Tracy Hancock     26th May 2016 Although the South African potato processing industry is growing rapidly to meet increasingly strong demand fuelled by the brisk growth in food services and the convenience market, JSE-listed Famous Brands says it lagged its peer industries in developed countries, illustrating the growth... 

Famous Brands buys Western Cape potato processor

Massmart to open 13 new stores in 2016 despite tough conditions

By: News24Wire      26th May 2016 Massmart said it will open 13 stores in 2016, despite tough economic trading conditions caused by high inflation and low economic growth in South Africa. Massmart CEO Guy Hayward told investors on Thursday that the new stores are in addition to the seven stores they have opened since 2015, “most... 

Massmart to open 13 new stores in 2016 despite tough conditions

Gordhan says cannot predict S&P, Fitch ratings outcomes – report

By: Reuters     26th May 2016 Finance Minister Pravin Gordhan has said it was still unclear whether South Africa's debt could be downgraded by Standard & Poor's and Fitch after holding discussions with the rating agencies last week, the Financial Mail reported on Thursday. A team from S&P met officials in Africa's most... 

Gordhan says cannot predict S&P, Fitch ratings outcomes – report

China the promised land for South African winemakers

By: Reuters     26th May 2016 South African tycoon Koos Bekker sells wine from his vineyard all over the world, but a small detail offers a clue as to where his priorities may lie - all the bottles are labelled in Mandarin. Other producers along the Stellenbosch wine routes where his 

China the promised land for South African winemakers

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      26th May 2016 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers an Engineering News Online app for iPhone and Android users.  These apps... 

Engineering News iPhone and Android Apps available for free download

Ministers stall on banks intervention over Gupta blacklisting

By: News24Wire      26th May 2016 The ministers tasked with intervening in the ongoing stand-off between South Africa’s big four banks and the Gupta-owned Oakbay Investments have missed their deadline. Minister in the Presidency Jeff Radebe told Parliament via a written reply to the Democratic Alliance on Wednesday that the... 

Ministers stall on banks intervention over Gupta blacklisting

The role of gas in SA’s energy mix

By: Creamer Media Reporter      26th May 2016 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about plans to increase the role of gas in South Africa’s energy mix. 

No way to avoid buying Zuma a new jet – Minister 

By: News24Wire      26th May 2016 Getting a new presidential jet seems to be unavoidable, Defence Minister Nosiviwe Mapisa-Nqakula said in Parliament on Wednesday. "It seems to me, honourable members, this is a matter we have to talk about and agree on and close it,'' she said in Parliament. 

No way to avoid buying Zuma a new jet – Minister
Defence Minister Nosiviwe Mapisa-Nqakula

Quantum Foods reports H1 loss

By: Anine Kilian     25th May 2016 Citing unfavorable trading conditions and a challenging economic environment, JSE-listed Quantum Foods reported a loss in headline earnings a share decreased to 15c for the six months ended March 2016, down 11c from the 26c a share reported in 2015. Cash outflow from operations amounted to... 

Quantum Foods reports H1 loss

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

Manufacturing sector sentiment tumbles in Q1

By: Natasha Odendaal     25th May 2016 Falling sales, rising unsold inventory levels and increased costs marred the sentiment of the manufacturing sector during the first quarter of the year. The Manufacturing Circle’s 2016 first quarter manufacturing survey, released on Wednesday, showed a deterioration in sentiment over the past... 

Political uncertainty, corruption drive financial distress – survey

By: Anine Kilian     25th May 2016 Political uncertainty, high unemployment rates, slow economic growth and severe drought have created a perfect storm of economic and political events for South Africa, according to advisory firm Deloitte, which published its South African Restructuring Outlook Survey 2016 on Wednesday.... 

Political uncertainty, corruption drive financial distress – survey

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