R/€ = 14.28
R/$ = 11.07
Au 1226.44 $/oz
Pt 1349.00 $/oz
Aug 21, 2008
Daily podcast – August 21, 2008Back
And|Cape Town|Gold|Johannesburg|Diesel|Eskom|Housing|Johannesburg Stock Exchange|Pallinghurst Resources|Platinum|PROJECT|Resources|T-Sec|Georgia|Russia|Environmental|Brian Gilbertson|Mercedes Benz|Mike Schussler|Power|Robert Mugabe|Thabo Mbeki|Diesel
© Reuse this This podcast is brought to you by Mercedes Benz Commercial - the right partner.
Thursday, August twenty-one, 2008.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
T-Sec economist Mike Schussler said on Wednesday that a "big drop" in the petrol price is expected in September.
Schussler said he saw petrol dropping around R1 a litre - or even more. He expected diesel to drop by R1,45 a litre.
However, even if the decrease in the petrol price is as large as expected in September, petrol would still be up 38% compared with a year ago.
He expected petrol to drop month-on-month by 9,6%. This would be the largest month-on-month drop in the last ten-and-a-half years.
Diesel would see a month-on-month drop of 14,1% - the biggest month-on-month decrease in two decades.
Pallinghurst Resources CEO Brian Gilbertson said on Wednesday that Platinum-group metals were a "very much misunderstood" group of metals that "the world just wouldn't operate without".
He was speaking at the listing of his new company on the main board of the Johannesburg Stock Exchange.
Gilbertson said the metal was a critically vital element, with 80% of the world's reserves being in the Southern African region.
DME chief inspector of mines Thabo Gazi said on Wednesday that Government had completed audits on all the 300-plus high-risk mines. He said the report would be released "soon".
The audit was ordered by President Thabo Mbeki late last year, following an incident in which 3 200 workers were trapped underground at a Harmony Gold mine
Gazi would not commit to a time when the findings would be released, or if the DME had delivered the report to Mbeki yet.
Also making headlines:
Cape Town's largest-ever housing project seeks to cut reliance on Eskom power
Eskom says an environmental delay is unlikely to move the PBMR's final project deadlines
Chevron opens its R107-million wastewater treatment plant in Milnerton
Minefinders chief says the Mexican government and miners need to take a firm stand against 'extortion'
Kimberley Consolidated Mines gets government's go-ahead for bulk diamond sampling
And, DRDGold says its Ergo section contains 1,7-million ounces of gold
In political news:
The Johannesburg High Court hears the Hlope case
Floor-crossing is to be swept under the carpet
Robert Mugabe is to open parliament on Tuesday despite a warning that such a move would endanger crucial power-sharing talks
And, Russia says its troops are to leave Georgia
That's a round up of news making headlines today. For more on these and other stories, visit engineeringnews.co.za, miningweekly.com and polity.org.za
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
Other Intellectual Property Law News
Pharmaceutical companies typically invest substantial amounts of money into research and development. Their research, however, is not only aimed at discovering new active pharmaceutical ingredients (APIs). Instead, some companies make small modifications to existing...
A controversial patent process known as ‘ever-greening’ is being carried out by many pharmaceutical brands, and is preventing medications from being made available as generics, affecting many South Africans who are struggling to keep up with the cost of medication....
It has been over six years since the government began developing the draft policy on intellectual property (IP) that has been the focus of major public controversy following the PharmaGate scandal, which involved a leaked pharmaceutical industry email by Knowledge...
Updated 2 hours 45 minutes ago Despite apparent legitimate reasoning behind State-owned power utility Eskom’s electricity tariff increases, increased costs would undoubtedly hurt those in the lower portion of South Africa’s income distribution, consulting firm Frost & Sullivan Africa energy and...
Updated 2 hours 52 minutes ago The detailed feasibility study into a $4.5-billion, two-phase steel project planned for development by the Hebei Iron and Steel Group, of China, and South Africa’s Industrial Development Corporation (IDC) should be completed in the first quarter of 2015, IDC CEO...
Updated 2 hours 54 minutes ago Infrastructure development on the continent has gained momentum, with a special office to be set up soon, to champion this cause. Cabinet on Thursday announced that it has approved the establishment of the Project Management Office for the African Union Presidential...
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
This Week's Magazine
The board of UD Trucks Southern Africa (UDTSA) has announced the resignation of MD Jacques Carelse. Long-time UD employee, corporate planning and marketing GM, Rory Schulz, has been appointed as acting MD while the process started to appoint a new MD. The Japanese...
There is a need to start planning another pumped storage scheme in South Africa. Much work has already been done at a site in the Limpopo province and the project was very close to being put out to tender at one stage. In 2008/9 the National Energy Regulator of South...
The Coega Development Corporation (CDC) is preparing to leverage its strategic coastal position to develop the Eastern Cape economy through proposed aquaculture development zones (ADZs), with a proposed R2-billion project aiming to contribute $278-million to the...
Completion of the ongoing construction of the 102 km Zomba–Jali–Phalombe–Chitakale road, in southern Malawi, has been extended from June to December 15 because of persistent rains and difficulties in paying the contractor. The project is being undertaken by Kuwait's...
The Malawi government has awarded South African firm Fischer Consortium the contract to upgrade the Malawi Road Traffic Information System. The Directorate of Road Traffic and Safety Services at Malawi's Ministry of Transport and Public Works says Fischer...