Jul 21, 2008
Daily podcast – July 21, 2008Back
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From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
South Africa's National Treasury unveiled the much-anticipated details of its 60-billion rand capital injection into embattled State power utility Eskom on Friday, confirming earlier reports by Engineering News Online that the transfer would be ‘front loaded'.
Further, Finance Minister Trevor Manuel hinted to possible additional support beyond the initial loans, which was also in line with a statement made last Thursday by Public Enterprises Minister Alec Erwin.
"In addition to the deeply subordinated loan, government will consider providing guarantees to enable Eskom to access funding otherwise not available," National Treasury said in a statement.
AfriSam deputy chairperson Mofasi Lekota said that the AfriSam Consortium, which bought 85% of the cement producer for 16,4-billion rand last year, had spoken to a number of local and international financiers, but the PIC had been the most supportive.
Of the 6-billion rand that the State-owned investor was injecting into AfriSam, 4,3-billion rand would earn it a 20% stake in the company, while the rest was in the form of a loan, the terms of which Lekota said had not yet been finalised.
Repair work has begun at Equinox Minerals' Lumwana copper project, in Zambia, after a fire on July 7 damaged a 20-MVA transformer and adjacent 11-kV substation at the process plant facility.
The first concentrate was originally scheduled to be produced this month at Lumwana, but the company now expects that the engineering, procurement and construction contractor, a joint venture between Bateman and Ausenco, will only have the project ready for hand over in December, Equinox said on Friday.
Assessments had been conducted by independent experts, insurance loss adjusters and engineers from the Ausenco Bateman JV, to identify equipment that would require replacement, and the ordering of the necessary replacement items had begun.
Renault-Nissan alliance invests 1-billion rand in South Africa
In political news:
Robert Mugabe threatens to seize foreign firms over sanctions
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
Creamer Media Senior Deputy Editor Polity & Multimedia
Other Intellectual Property Law News
Pedestrian Door Solutions specialists, ASSA ABLOY Entrance Systems South Africa (Pty) Ltd., have supplied and installed a number of Besam entrance systems to medical facilities both in South Africa and outside the country’s borders that offer fast, convenient and...
Rubber-in-compression couplings, from Renold Hi-Tec, provide fail-safe operation on applications such as mine winders, hoists, draw-works on drilling rigs and industrial overhead cranes. The intrinsically fail-safe construction of the couplings protects both people...
Engineering, management and specialist technical services company Aurecon achieved a first in Tshwane in 2011 when its Lynnwood Bridge Office Park building, situated just off of the N1 highway, achieved a 4 star GreenStar SA – [Office Design v1, Office Design v1]...
Updated 15 minutes ago David Lewis‚ head of the country's leading non-governmental anti-graft agency‚ Corruption Watch‚ has criticised Police Minister Nathi Nhleko's report exonerating President Jacob Zuma of having to pay anything for the upgrades to his Nkandla home. Nhleko yesterday...
Updated 1 hour 26 minutes ago While transformational efforts have succeeded in boosting black representation at a managerial level in the metals and engineering sector, these individuals appear to stagnate in middle management positions rather than progressing to senior or top management...
Updated 1 hour 45 minutes ago JSE-listed Afrox has appointed Dorian Devers CFO and Bernd Eulitz chairperson. Devers, who was also Linde Group Africa and UK region FD, took up the position of CFO and executive director on May 28.
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
This Week's Magazine
While strongly welcoming the promulgation of the new Part 101 of South Africa’s civil aviation regulations, governing the commercial operation of civil remotely piloted aircraft (RPAs) in South Africa, the Commercial Unmanned Aircraft Association of Southern Africa...
LSM Distributors has contracted engineering consultancy WSP | Parsons Brinckerhoff Africa to undertake the R100-million restoration of the 54-year-old Kyalami racetrack, situated in Midrand. The restoration will assist in re-establishing it as a venue for...
South African Defence Minister Nosiviwe Mapisa-Nqakula has expressed the hope that the defence budget will be significantly increased over the next five years. She did so while addressing the media in her recent budget vote media briefing. The 2015/2016 defence...
The African Development Bank (AfDB) has been an implementing agency for the Global Environment Facility (GEF) since 2008. The relatively young portfolio has 28 projects over 30 countries on the continent according to the 2014 AfDB and GEF annual report released...
Investment in South African youth through apprenticeships and learnerships will not only create direct benefits for businesses but will also contribute significantly to job creation and socioeconomic transformation in the country.