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Sars concerned about falling tax compliance

By: Reuters     12th December 2017 The South African revenue service (Sars) is concerned about falling tax compliance as some tax payers have stopped paying their taxes over unhappiness with the government, the agency said on Tuesday. Finance Minister Malusi Gigaba shocked markets in October when he said tax revenue for the... 

Sars concerned about falling tax compliance

October manufacturing output up 2.2% y/y

By: Reuters     12th December 2017 South Africa's manufacturing output rose 2.2% year-on-year in October, beating market expectations, after falling by a revised 1.7% in September, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would rise by 0.75% year-on-year in October. 

October manufacturing output up 2.2% y/y

TPT unveils locally assembled diesel-electric straddle carriers

By: Shirley le Guern     12th December 2017 State-owned freight transport company Transnet Port Terminals (TPT) on Tuesday unveiled 23 locally assembled diesel-electric straddle carriers at the Durban Container Terminal Pier 2, marking an important milestone in fostering local procurement and laying the foundation to supply cargo handling... 

TPT unveils locally assembled diesel-electric straddle carriers
One of 23 straddle carriers unveiled at Pier 2 in Durban being put through its paces

Heartland-to-heartland linkages sought in China-driven industrial superproject

By: Schalk Burger     12th December 2017 The China-driven superproject, the Belt and Road Initiative (BRI), which is a conceptual redevelopment of the ancient global tradeways of the Silk Road, aims to link the heartlands of countries by land, sea and air routes, said Renmin University School of International Studies Professor Wang... 

DTI to probe Steinhoff compliance with companies law

By: African News Agency      12th December 2017 South Africa’s trade and industry department said on Tuesday it would launch an investigation into the alleged governance failures and financial irregularities at retailer Steinhoff, to determine any non-compliance with the Companies Act and Regulations. “The Department of Trade and Industry and... 

Eskom study on the Integrated Resource Plan (IRP) (2017)

     12th December 2017 The Integrated Resource Plan (IRP) 2010-30 was promulgated in March 2011. It was indicated at the time that the IRP should be a "living plan" which would be revised by the Department of Energy (DoE) every two years. The IRP is the over-arching energy plan for the country of which the IRP forms an... 

Eskom study on the Integrated Resource Plan (IRP) (2017)

South African poultry group calls for probe of forced labour in Brazil

By: Reuters     12th December 2017 South Africa's poultry industry body has asked the government to investigate allegations of forced labour in the sector in Brazil, the world's largest poultry exporter. The South African Poultry Association (SAPA) said it had asked its government to seek "urgent comment" after a report said... 

Metrorail must provide alternative transport for Cape Town commuters – Sanco

By: African News Agency      12th December 2017 The South African National Civic Organisation (SANCO) on Tuesday called on rail service provider Metrorail to provide alternative transport for commuters left stranded by the suspension of its service on the key Central Line in Cape Town. The civic organisation said that the inconvenience and... 

Morocco announces auto industry deals worth $1.45bn

By: Reuters     12th December 2017 Morocco said on Monday it had signed deals for 26 auto industry projects worth a total of €1.23-billion ($1.45-billion) as it seeks to build its position as an international hub for the sector. The deals include six agreements with French company Renault to expand an "industry ecosystem" allowing... 

New JV to develop small-scale Zambian hydropower projects

By: Schalk Burger     12th December 2017 The New Africa Power joint venture (JV) plans to develop a 65 MW portfolio of small-scale, run-of-the-river hydropower projects in Zambia. The JV, established by Nairobi-based energy holding company responsAbility Renewable Energy, international finance institution Norfund and investment company... 

Siemens to build two gas-powered electricity plants in Libya

By: African News Agency      12th December 2017 Germany’s Siemens says it has signed contracts worth some €700-million ($824-million) to build two gas-powered electricity plants in Libya, AP reports. The plants are to be constructed in Misrata and Libya’s capital Tripoli, according to the Munich-based industrial conglomerate. 

SA power plant listed 4th dirtiest in world's 'Dirty Dozen'

By: News24Wire      12th December 2017 South Africa’s Thabametsi project has been listed as one of the “Dirty Dozen projects”, twelve fossil fuel projects worldwide environmental groups say exemplify the massive volumes of public finances still flowing to fossil fuel projects, which are driving climate change. The list comes as world... 

 SA power plant listed 4th dirtiest in world's 'Dirty Dozen'

Glencore guiding soaring 2018 earnings

By: Martin Creamer     12th December 2017 Diversified mining and marketing company Glencore sees itself as being best placed for the electric vehicle revolution through its ‘tier 1’ copper, cobalt, nickel, zinc and thermal coal assets. The company said in an investor day update on Tuesday that sustainably low-cost and long-life first... 

Glencore guiding soaring 2018 earnings
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

China steel futures steady, mill output cuts continue

By: Reuters     12th December 2017 Chinese steel futures held steady on Tuesday, but prices for steelmaking raw material iron ore dropped as steel mills in the world's top producer cut output. China's government has vowed to clear its air, ordering 28 cities to curb industrial production, prompting a shortage of supplies in some... 

Germany favours Eurofighter as it seeks to replace Tornado

By: Reuters     12th December 2017 The German Defence Ministry said on Monday that the European fighter jet was the leading candidate to replace its Tornado jets, which it wants to start phasing out in 2025. The ministry’s position appears to contradict that of the German air force, whose chief indicated last month that he... 

Kosmos Energy to plug offshore Mauritania well

By: Reuters     12th December 2017 Kosmos Energy said it would plug one of its exploration wells offshore Mauritania after it failed to find significant amount of oil and gas. Evaluation of logs and samples collected during drillingand wireline operations suggests the Campanian reservoir objective was water-bearing with some... 

Court action to stop PRASA 'conspiracy'

By: News24Wire      12th December 2017 The Passenger Rail Agency of South Africa (PRASA) has missed a deadline to respond to demands by the UniteBehind coalition. Legal action will now be taken against the agency responsible for Metrorail, GroundUp reports. 

Mahlobo: Corruption is corruption

By: News24Wire      12th December 2017 The African National Congress's (ANC's) subcommittee on peace and stability said corruption was a "cancer" and it would be one of the issues discussed at the party's upcoming national elective conference. Subcommittee member and Minister of Energy David Mahlobo said on Monday that the party was... 

Mahlobo: Corruption is corruption
Minster of Energy David Mahlobo

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

DA consulting lawyers on legality of energy blueprint

By: African News Agency      11th December 2017 The Democratic Alliance said on Monday it was taking legal advice on the approval of government’s new Integrated Resource Plan (IRP), which envisions nuclear procurement. Democratic Alliance energy spokesperson, Gavin Davis, said the apparently rushed approval of the policy blueprint with no... 

Cyril Ramaphosa calls for mining sector action

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Blue Label concludes 3G acquisition after Competition Tribunal thumbs up

By: Natasha Odendaal     11th December 2017 JSE-listed Blue Label has secured Competition Tribunal approval for the acquisition of the remaining 52.63% of mobile device distributor 3G Mobile. The local telecommunications firm had, through its The Prepaid Company subsidiary, acquired 3G Mobile for R1.9-billion, with the initial acquisition... 

AMSA appoints new CEO

By: Natasha Odendaal     11th December 2017 ArcelorMittal South Africa (AMSA) has appointed former Aveng CEO Hendrik ‘Kobus’ Verster to succeed Wim de Klerk, who will step down on January 31, as CEO. Verster will join the company on January 2 as CEO designate to ensure a smooth handover and will assume the position of CEO and executive... 

Rosatom says planned Egypt nuclear plant to cost $21bn

By: Reuters     11th December 2017 Russian state nuclear company Rosatom said on Monday a power station it will build in Egypt will cost up to $21-billion and is expected to be finished by 2028/29. Russian President Vladimir Putin and his Egyptian counterpart Abdel Fattah al-Sisi will sign an agreement on the project on Monday,... 

Metal workers union continues strike action at Agni Steel in South Africa

By: African News Agency      11th December 2017 Liberated Metalworkers Union of South Africa (Limusa) said on Monday that it will proceed indefinitely with its strike at Agni Steel South Africa in Port Elizabeth due to protracted wage negotiations that started in 2016 with the company. This comes as the protected industrial action entered a... 

Fluor secures Vopak EPCM contract for Durban fuel storage terminal

By: Creamer Media Reporter      11th December 2017 Vopak Terminal Durban has awarded NYSE-listed Fluor Corporation an engineering, procurement and construction management contract to deliver the Vopak Growth 4 Project, in Durban. The project forms part of Vopak’s expansion programme to increase the capacity of fuel storage at its Durban terminal... 

AfDB grants loan support to two African renewable energy projects

By: Dylan Slater     11th December 2017 The African Development Bank (AfDB) has approved $324-million in loan support to two renewable energy projects in Morocco and Côte d’Ivoire that are expected to significantly increase power supplies and boost economic growth in those countries.  

AfDB grants loan support to two African renewable energy projects
The Noor concentrated solar power project’s Phase 1

Fairfax exits PPC partial acquisition bid

By: Natasha Odendaal     11th December 2017 Fairfax Africa Investments has withdrawn its intention to acquire R2-billion worth of shares in cement producer PPC. In an update to shareholders on Monday, JSE-listed PPC said it had received formal notification on Friday that Fairfax would no longer pursue the partial offer. 

Gibela factory on track for March completion, says new CEO

By: Irma Venter     11th December 2017 Construction of the Gibela plant, in Dunnottar on the far East Rand, is on track for completion in March next year, says Gibela Rail Transport Consortium CEO Thierry Darthout. Darthout, former Gibela operations VP, took over the reins from Marc Granger on August 1. The 53-year-old is a mechanical... 

Gibela factory on track for March completion, says new CEO
Thierry Darthout

Steinhoff continues trade, appoints subcommittee

By: News24Wire      11th December 2017 Disgraced retail international holding company Steinhoff has established a board subcommittee to bolster independent governance following the resignation of CEO Markus Jooste over accounting irregularities which are being investigated. In a note to shareholders issued on Monday morning, the group... 

Metrorail suspends all train services on Cape Town central line

By: News24Wire      11th December 2017 Metrorail Western Cape announced its decision on Monday to suspend all trains running on the central line, which services areas such as Khayelitsha, Philippi, Mitchells Plain, Bishop Lavis and Langa, until further notice. "Stations will be closed and no tickets will be on sale until further... 

Brimstone says subsidiary Sea Harvest in acquisition talks

By: African News Agency      11th December 2017 South African investment holding company Brimstone said on Monday its subsidiary Sea Harvest had entered into negotiations to acquire the entire fishing business of Viking Fishing. Brimstone, which has a 54.9% stake in Sea Harvest, said a consortium of broad-based black economic empowerment... 

Political will needed to maintain South Africa growth momentum

By: Reuters     11th December 2017 South Africa's economy needs political support to maintain upward momentum into next year, a Reuters poll found on Monday, just days before a conference of the ruling African National Congress. Medians in the poll of 26 economists, surveyed by Reuters last week, suggested the economy will grow... 

Political will needed to maintain South Africa growth momentum
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Gift of the Givers to unveil aquifer project in drought-stricken Beaufort West

By: News24Wire      11th December 2017 The Gift of the Givers is expected to unveil its Beaufort West Witperd aquifer development project in the drought-stricken town on Monday afternoon. Last month, the Western Cape government denied that the town of about 37 000 residents had reached "Day Zero" with water supply. 

Khoza to continue as Eskom chair

By: Anine Kilian     8th December 2017 Zethembe Khoza will continue in his position as chairperson of State-owned power utility Eskom until the 2018 annual general meeting, according to Public Enterprises Minister Lynne Brown, who announced the State-owned power utility’s new board on Friday. The new board – comprising Khoza, Dr Pat... 

Khoza to continue as Eskom chair
Eskom chairperson Zethembe Khoza

SAPVIA launches ‘bold’ 5-point plan for solar industrialisation

By: Mia Breytenbach     8th December 2017 The South African Photovoltaic Industry Association (SAPVIA) has announced a “bold” five-point plan for the solar photovoltaic (PV) industry to drive industrialisation, create jobs, and contribute to economic growth. Speaking at the Energy Indaba held at Gallagher Estate in Midrand, on Friday,... 

SAPVIA launches ‘bold’ 5-point plan for solar industrialisation

Ballistic firearms ‘fingerprinting’ futile, wasteful – SA Hunters

By: Dylan Slater     8th December 2017 Recent proposals by the South African Police Service (Saps) to establish a national “ballistic fingerprint” database of legally owned firearms in South Africa and for this database to be used as a forensic tool in criminal investigations is a largely futile and wasteful exercise in Saps’... 

M&R acquires a further 17% of Bombela

By: Anine Kilian     8th December 2017 JSE-listed engineering and construction group Murray & Roberts (M&R) has completed the acquisition of a further 17% shareholding in the Bombela Concession Company (BCC) for a total consideration of R405-million.  BCC is a special-purpose vehicle that was appointed in 2006 by the Gauteng... 

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