http://www.engineeringnews.co.za
R/€ = 15.89 Change: 0.04
R/$ = 14.01 Change: 0.03
Au 1339.20 $/oz Change: 10.72
Pt 827.45 $/oz Change: 17.16
 
Close

Email me free daily news

Email address

R69bn in support for Eskom made conditional on restructuring 

By: Terence Creamer     20th February 2019 Finance Minister Tito Mboweni has turned down a proposal for R100-billion of Eskom’s debt to be transferred across to the National Treasury, but has instead announced R23-billion a year in financial assistance for the debt-laden utility that is directly tied to a restructuring of the business.... 

R69bn in support for Eskom made conditional on restructuring
Photo by Bloomberg
Finance Minister Tito Mboweni

‘No quick fixes’, Mboweni warns as Eskom bail-out widens deficit 

By: Terence Creamer     20th February 2019 Finance Minister Tito Mboweni used his inaugural Budget address on Wednesday to outline the “tough steps” required to fix South Africa’s deteriorating fiscal position and the country’s failing State-owned enterprises (SoEs). He told lawmakers there were “no quick fixes”, while confirming a... 

‘No quick fixes’, Mboweni warns as Eskom bail-out widens deficit
Photo by Bloomberg
Finance Minister Tito Mboweni

Govt revises contingency reserve to support cash-strapped SoEs 

By: Simone Liedtke     20th February 2019 With State-owned entities (SOEs) posing very serious risks to the fiscal framework, Finance Minister Tito Mboweni on Wednesday said that National Treasury was “taking very serious steps to fix the fiscal position and SoEs”. With funding requests from South African Airways (SAA), the South... 

Govt revises contingency reserve to support cash-strapped SoEs

R100bn to be injected into infrastructure fund over ten years 

By: Simone Liedtke     20th February 2019 National Treasury will be reprioritising resources towards President Cyril Ramaphosa’s infrastructure fund and away from the wage bill, Finance Minister Tito Mboweni said on Wednesday, with government committing R100-billion over the next decade towards the building and operation of key... 

R100bn to be injected into infrastructure fund over ten years

Govt allocates R19.8bn to support business incentives

By: Simone Liedtke     20th February 2019 Government has made a three-year allocation of R19.8-billion to support industrial business incentives, 48% of which goes to manufacturing development, the National Treasury announced on Wednesday. The medium-term expenditure framework (MTEF) allocation includes a reprioritised amount of... 

Another fuel levy increase lies ahead, carbon tax to be implemented 

By: Simone Liedtke     20th February 2019 A carbon tax on fuel of 9c/l on petrol and 10c/l on diesel will become effective from June 5, Finance Minister Tito Mboweni said on Wednesday. Further, the general fuel levy will increase by 15c/l for petrol and diesel from April 3, while the Road Accident Fund (RAF) levy will be increased by... 

Industries and municipalities contribute to Vaal river pollution, SAHRC hears

By: Schalk Burger     Updated 1 hour 38 minutes ago There is continued unlawful spillage, mainly sewage, into waterways that run into the Vaal river, the South African Human Rights Commission (SAHRC) was told on Wednesday, during the final sitting of its inquiry into the contamination of the river. South African National Defence Force (SANDF) and... 

VWSA to reach record production this year, says Schäfer

By: Irma Venter     20th February 2019 Volkswagen Group South Africa (VWSA) should this year produce a record number of vehicles at its Uitenhage plant, in the Eastern Cape, says CEO Thomas Schäfer. He says the local arm of the German car maker should produce 161 900 vehicles, of which 108 000 are scheduled to be exported. 

VWSA to reach record production this year, says Schäfer
The VWSA plant in Uitenhage

South African new-vehicle market to decline by 0.4% in 2019, says Toyota

By: Irma Venter     20th February 2019 South Africa’s new-vehicle market should reach roughly 550 000 units this year, 0.4% down from last year’s 552 226 units, says Toyota South Africa Motors (TSAM) president and CEO Andrew Kirby. He says TSAM expects the first half of 2019 to be tough, especially with elections looming in May. 

South African new-vehicle market to decline by 0.4% in 2019, says Toyota

Power pools could benefit Africa’s regions

By: Marleny Arnoldi     20th February 2019 Power pooling is an effective means of mitigating electricity supply risk over a large area served by numerous utilities, information technology services company EOH divisional manager Rob Surtees said during the second day of the Africa Energy Indaba. During a panel discussion on energy trading... 

There is scope for more IPPs in Africa, South Africa – SAPP CEO

By: Tasneem Bulbulia     Updated 6 hours ago There is a need to increase electricity trading to deal with imbalances in the electricity sector, South African Power Pool (SAPP) CEO Stephen Dehwa said at a South African Independent Power Producers Association (Saippa) seminar on Wednesday. To ensure that there is adequate energy at any given... 

Africa still slow to take up EVs, energy storage solutions

By: Marleny Arnoldi     Updated 1 hour 37 minutes ago Globally, there is a rise in the uptake of electric vehicles (EVs) and battery storage systems, especially in regions where there is a lack of constant, reliable energy supply or more economically feasible solutions, Electric Vehicle Industry Association representative Carel Snyman said during a... 

EOH founder and chair resigns

By: Reuters     20th February 2019 South Africa's largest technology group EOH Holdings said on Wednesday its founder and CEO Asher Bohbot would resign from the board, effective Feb. 28. The resignation of Bohbot, who has been at the helm for 19 years, comes days after Microsoft terminated its channel partner agreement with EOH... 

Govt encourages early retirement for up to 30 000 public servants

By: Simone Liedtke     20th February 2019 Given an “unsustainable” wage bill, the National Treasury has shifted expenditure to investment, meaning that national and provincial compensation budgets will be reduced by R27-billion over the next three years. According to Finance Minister Tito Mboweni, who delivered his maiden Budget speech... 

R567bn allocated for social grants to mitigate poverty, inequality

By: Simone Liedtke     20th February 2019 In the fight against poverty and inequality, government has allocated R567-billion for social grant payments. In 2019, grants for old age, disability, war veterans and care dependency grants will increase by R80. 

Single air transport market essential for African air cargo sector

By: Rebecca Campbell     20th February 2019 The Single African Air Transport Market (SAATM) initiative, which has so far been signed by 28 countries, is of great significance for the continent's air transport sector. So affirmed participants in a panel discussion at the Air Cargo Africa 2019 conference and exhibition. "SAATM is a very... 

Tiger Brands posts revenue rise on price inflation, volume growth

By: Reuters     20th February 2019 Tiger Brands on Wednesday reported a one% rise in group revenue from continuing operations for the four months to January 31 on Wednesday helped by overall price inflation and volume growth. South Africa's leading food producer had reported a 5% fall in revenue in the corresponding period last year. 

Bidcorp H1 profit rises on upbeat European market

By: Reuters     20th February 2019 Food producer Bid Corporation Ltd (Bidcorp) reported on Wednesday a 9.2% increase in half-year earnings, supported by positive trading performance in its developed markets. Bidcorp, which operates in Europe, United Kingdom, Australasia and emerging markets, posted headline earnings per share... 

Glencore auditing 140 slimes dams 

By: Martin Creamer     Updated 7 hours ago Diversified mining company Glencore is auditing 140 slimes dams, 65 of them active and 75 of them closed. The company has been undertaking detailed assessments and audits of all material tailings storage facilities (TSFs) over the past three years, after accumulating a TSF significant asset... 

Glencore auditing 140 slimes dams
Photo by Glencore
Fifty-one percent of Glencore's tailings storage faciities are upstream dams.

Coal capped at 150 Mt/y – Glencore 

By: Martin Creamer     Updated 7 hours ago Diversified mining company Glencore has capped its coal capacity at 150-million tonnes of coal a year, a figure that it is close to and which it will not exceed. The company has been working on the cap with its investors since 2016 in the interests of the transitioning to a low carbon global... 

Coal capped at 150 Mt/y – Glencore
Photo by Glencore
Glencore is using wind turbine generated energy in Canada and Australia

South Africa to increase spending on health insurance to R3bn by 2021/22

By: African News Agency      20th February 2019 South Africa will increase spending on its National Health Insurance programme at an average annual rate of 36.6 percent, from R1.2-billion in 2018/19 to R3-billion in 2021/22, the National Treasury said on Wednesday. In its 2019 budget review, the Treasury said the allocations for national... 

South Africa to increase spending on health insurance to R3bn by 2021/22
Finance Minister Tito Mboweni

Eskom bailout a dominant theme in 2019 Budget 

20th February 2019 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Finance Minister Tito Mboweni’s announcement of a R69-billion bailout for Eskom over three years, how this has impacted on the country’s fiscal framework and how it is likely to affect South Africa’s credit... 

Eskom bailout a dominant theme in 2019 Budget. Camerawork and Editing: Creamer Media's Nicholas Boyd.

Budget frees up R1.8bn for urgent land reform projects

By: African News Agency      20th February 2019 The national budget allocates R1.8-billion for 262 priority land reform projects over the next three years, Finance Minister Tito Mboweni announced on Wednesday. A further R3.7-billion will go to emerging farmers seeking to acquire land. 

Budget frees up R1.8bn for urgent land reform projects

State-owned AEMFC awarded PCF bid to the tune of R1bn

By: Nadine James     20th February 2019 A consortium led by State-owned mining company African Exploration Mining and Finance Corporation (AEMFC) has been awarded the post-commencement funding (PCF) bid for Optimum Coal and its associated assets to the value of R1-billion.  PFC is finance granted to a company in business rescue and is... 

State-owned AEMFC awarded PCF bid to the tune of R1bn
From left to right are: Lurco Group COO and co-founder Aubrey Chauke; Lurco Group business development, marketing and capital raising head Lee Stokes; Lurco Group commercial head Richard MacDonald; Lurco Group consultant Errol Salkinder; Ukwazi MD Jaco Lotheringen; the BRP's lead lawyer Bouwer van Niekerk; Optimum BRP Chris Monyela; BRP officer Devon Brikkels; Lurco Group CEO and co-founder Ellington Nxumalo; Optimum senior BRP Juanito Damon; Optimum senior BRP Louis Kloppers; AEMFC legal counsel Nkhangweni Ndou; and Lurco Group legal counsel Khanyi Zungu

Glencore ups low carbon transition, limits coal output

By: Martin Creamer     20th February 2019 Diversified mining company Glencore said on Wednesday that it was furthering its commitment a low carbon transition, following engagement with the investor signatories of the Climate Action 100+ initiative. As one of the world’s largest diversified mining companies, Glencore sees itself as... 

Glencore ups low carbon transition, limits coal output
Glencore CEO Ivan Glasenberg

EOH, buffeted by an anonymous tip, starts whistle-blower app

By: Bloomberg     20th February 2019 EOH Holdings, the South African information technology company reeling after an anonymous complaint prompted Microsoft to abruptly cancel a contract, has created an app that will make that process easier for future whistle-blowers. Expose-It, which was made available for download on Monday,... 

MoU with Mozambique a milestone, says Davies

By: African News Agency      20th February 2019 Trade and Industry Minister Dr Rob Davies says the memorandum of understanding (MoU) between Mozambique and South Africa on economic cooperation is a milestone.  Davies was speaking at a signing ceremony in Cape Town with his Mozambican counterpart, Dr Ragendra Berta de Sousa, who signed on... 

MoU with Mozambique a milestone, says Davies
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Municipalities should not approve building plans which may devalue surrounding properties, ConCourt rules

By: News24Wire      20th February 2019 The Constitutional Court has ruled that municipalities are obliged to consider the possibilities that a new development could devalue nearby properties before approving building plans. The court said that when a proposed building is being considered, the decision-maker should check against... 

South Africa will have to produce 50% more food by 2050 or face crisis – WWF

By: News24Wire      20th February 2019 South Africa faces an impending food security crisis if there isn't urgent action to correct unsustainable practices, says an environmental organisation. According to the World Wide Fund for Nature (WWF), South Africa will have to produce 50% more food by 2050 to feed an estimated population of... 

Makhanda water crisis: Fresh hope as Gift of the Givers strikes water

By: News24Wire      20th February 2019 Makana municipality in the Eastern Cape has declared all its water, except in Riebeek East, free from E. coli as the Gift of the Givers rejoices over the quick discovery of underground water in Makhanda (formerly Grahamstown) that could help the troubled region pull through its water crisis soon.... 

Comair continues to perform well, despite setbacks in Q1 of FY19

By: Simone Liedtke     19th February 2019 Despite the technical recession in the first quarter of its financial year, South African aviation group Comair performed well to deliver a record 12% increase in revenue for the interim period ended December 31, 2018. However, the company said on Tuesday that the revenue growth was offset by... 

Digitalisation could facilitate energy access, efficiency in Africa – panel

By: Marleny Arnoldi     19th February 2019 Digitalisation within the African energy sector is accelerating at a rapid rate, creating demand for innovation and adaptation to new market technologies and the development of new skill sets within organisations, Trade and Industry Policy Strategies executive director Saul Levin told delegates... 

Digitalisation could facilitate energy access, efficiency in Africa – panel

Brazil iron-ore tragedy brings home reality of mining risk – Kumba  

By: Martin Creamer     19th February 2019 Following 58 mineworkers suffering fatal occupational accidents in South Africa in 2018, Kumba Iron Ore CE Themba Mkhwanazi on Tuesday drew attention to 2019 beginning globally with the tragic loss of life at Brumadinho, in Brazil, as a result of an iron-ore tailings dam collapse that killed 170... 

AfDB optimistic about Eskom’s turnaround prospects

By: Terence Creamer     19th February 2019 The African Development Bank (AfDB), which has extended billions of rands in loans to Eskom, says it is optimistic the actions being taken to turnaround the embattled South African power utility will bear fruit. Power, energy, climate and green growth complex VP Amadou Hott told Engineering News... 

AfDB optimistic about Eskom’s turnaround prospects
Photo by Creamer Media
AfDB power, energy, climate and green growth complex VP Amadou Hott

Parliament approves long-delayed Carbon Tax Bill

By: Reuters     19th February 2019 Parliament on Tuesday approved the long-delayed Carbon Tax Bill as it seeks to reduce harmful carbon emissions in Africa's most industrialised and polluting country. Big energy users including Sibanye-Stillwater and ArcelorMittal's local unit have opposed plans by South Africa to enact carbon tax... 

Regional development focus necessary for Africa’s energy future – panel

By: Marleny Arnoldi     19th February 2019 A number of trends and influences are driving change in the energy sector, with the collective drive towards a safer, more environment-friendly, reliable and sustainable future. Leading a panel discussion at the Africa Energy Indaba, on Tuesday, Strategic Concepts chairperson Sean Cleary said the... 

Price premiums boosting quality-focused Kumba Iron Ore  

By: Martin Creamer     19th February 2019 South Africa’s Kumba Iron Ore, which stands head and shoulders above its peers when it comes to iron-ore quality, is achieving major price premiums well above historical heights. Structural change and strong growth in particularly the China steel market has placed the Anglo American group company... 

Mining Weekly Online’s Martin Creamer reports on Kumba Iron Ore. Video: Creamer Media’s Nicholas Boyd.

Retrenchments at South32’s Hillside smelter could affect up to 500 jobs – Solidarity

By: Nadine James     19th February 2019 Trade union Solidarity on Tuesday said it had received a retrenchment notice from South32’s Hillside aluminium smelter, in Richards Bay. The trade union stated that the retrenchment process could impact the lives of up to 30 000 people and, consequently, the entire Richards Bay area. 

Latest News  by  

more

Company Article

more

Latest Videos and Audio

Eskom bailout a dominant theme in 2019 Budget

On-The-Air (15/02/2019)

Eskom’s operational and financial crisis

Pan African’s Elikhulu project ups production

Electrical equipment group aims to penetrate new markets with integrated offering

On-The-Air (08/02/2019)

Ramaphosa confirms Eskom restructuring

Steel group to approach Nersa for power-tariff relief

more

Manufacturing News

Capital Equipment

Chemicals & Pharmaceuticals

Clothing & Textiles

Food & Beverage

Foundries, Forges & Die-Casting

Furniture & Wood products

Hydraulics

Industrial Filters & Filtration

Instrumentation & Control

Manufacturing

Metals & Engineering

Paper, Plastics, Packaging, Printing

Pipes & Tubes

Pumps

Rubber

Valves

Welding & Cutting

Services News

Architecture

Business Process Outsourcing

Consulting Engineers

Corrosion Control

Education & Skills Development

Financial

Legal

Maintenance

Material Handling

Quality Assurance & Standards

Quantity Surveyors

Company Announcements

more

Research Reports

Projects

more

Press Office

more

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close