http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.13Change: 0.17
R/$ = 10.90Change: 0.13
Au 1235.26 $/ozChange: 0.51
Pt 1366.00 $/ozChange: 3.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Jul 18, 2008

Daily podcast – July 18, 2008

Back
July 18 2008
Johannesburg|Africa|Aim Resources|CoAL|Diesel|Eskom|Flow|Potash Corp|PROJECT|Projects|Resources|Road|Africa|Burkina Faso|South Africa|Zimbabwe|ZAR|Mine Development|Perkoa Zinc Mine|Energy|Flow|Logistics|Maintenance|Mining|Steel|Bongani Nqwababa|Jacob Maroga|Mercedes Benz|Power|Diesel
|Africa|CoAL|Diesel|Eskom|Flow|PROJECT|Projects|Resources|Road|Africa|Burkina Faso|||Mine Development||Energy|Flow|Logistics|Maintenance|Mining|Steel|Power|
johannesburg|africa-company|aim-resources|coal|diesel-company|eskom|flow-company|potash-corp|project|projects|resources|road|africa|burkina-faso|south-africa|zimbabwe|zar|mine-development|perkoa-zinc-mine|energy|flow-industry-term|logistics|maintenance|mining|steel|bongani-nqwababa|jacob-maroga|mercedes-benz|power|diesel
© Reuse this This podcast is brought to you by Mercedes Benz Commercial, the right partner.



Friday, July eighteen, 2008. Happy 90th birthday, Madiba!

From Creamer Media in Johannesburg, I'm Fatima Gabru.

Making headlines today:

State-owned power utility Eskom has provided fresh insight into its much-anticipated funding plan for a 343-billion rand, five-year capital expenditure programme, which is viewed as essential if South Africa is to add some 19 000 mega watts of much needed generation capacity by 2017 and restore a reserve margin of 15%. The margin is currently standing at a paltry 8%.

The utility will go on an international road show next week to map out how it plans to close a 150-billion rand funding gap through borrowings on the South African and international capital markets, with CEO Jacob Maroga expecting clarity on the promised 60-billion rand shareholder injection from National Treasury ahead of that tour.

Finance director Bongani Nqwababa says he is unable to provide details on the precise nature of the injection, which many of the credit rating agencies have indicated will be crucial to stabilising Eskom's rating, but he confirms that the transfer will be ‘front-loaded'. In other words, the bulk of the injection would flow in the first few years, as opposed to the initial plan, which would have seen National Treasury injecting the bulk of the money in the last two years of a five-year rolling injection.


Demand for primary energy at Eskom rose massively in 2007/2008 with the utility's coal burn rising to 125,3-million tons from 119,1-million tons, and its diesel consumption spiking to 346-million litres from just 11,3-million litres in the previous year.

This trend is also unlikely to be reversed in the current financial year, with Eskom expecting to burn between 135- and 140-million tons of coal during 2008/2009.

Much of the additional coal is also being sourced outside of the confines of the State-owned group's favourable long-term contracts with tied collieries, dramatically increasing the direct cost of primary energy and its associated logistics, and placing strain on its financial ratios.

Eskom CEO Jacob Maroga:
(audio clip)


Burkina Faso's largest mine development, the Perkoa zinc mine, as been put on care-and-maintenance, after its owner, Aim Resources, could not secure funding for the project.

Aim Resources attributed its funding woes to the current zinc prices and forecasts, which made it difficult for zinc projects to secure funding, as well as a downturn in both debt and equity markets.

The company said on Thursday that spot zinc prices had fallen "well below" the level required to provide an adequate return, and below the predicted cash break-even point.


Also making headlines:

Raids on steel companies may have unearthed cartel
Quality of life improves in South Africa, but inequality worsens
Public Works target of 1-million jobs by 2009 has been achieved says Minister
Ridge Mining seeks partners to help fund Sheba's Ridge project
Potash Corp plans additional capacity, to 18-million tons a year by 2012
And, Mwana's Zimbabwe mines continue to operate despite ‘difficulties'

In political news:

EU to widen Zimbabwe sanctions say diplomats
EU faces revolt over Africa aid and fish funds
South African to replace UN rights chief
And, Relief group criticizes new US Africa command


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....
HIGH COST FOR GOOD HEALTH Linezolid, one of the only effective treatments for drug resistant tuberculosis, is priced at R676 a pill in South Africa
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...
More
 
 
Latest News
Updated 5 hours ago Construction on the bus rapid transport stations for Phase 1A of the Rustenburg Rapid Transport (RRT) project was likely to start before the end of the year, with the construction tenders currently being adjudicated, RRT said on Tuesday. Phase 1A of this four-phase...
Updated 6 hours ago Hundreds of innovators and entrepreneurs have gathered in Cape Town to discuss how to support more innovation in South Africa in a bid to drive the economy forward. Venture capitalists, dealmakers, entrepreneurs and academics have been mingling at the South African...
Updated 6 hours ago South African business leaders were more likely than their global counterparts to encourage creative behaviours and “disruptive processes” to drive innovation, the South African results of the GE Global Innovation Barometer, released on Tuesday, have shown. The 2014...
More
 
 
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...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks