http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.17Change: 0.03
R/$ = 11.07Change: 0.01
Au 1238.28 $/ozChange: -4.47
Pt 1258.00 $/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  
 
 
May 15, 2008

Daily podcast - May 15, 2008

Back
May 15 2008
Cape Town|DRC|Johannesburg|Mogadishu|Africa|BHP|CoAL|Eskom|Exploration|Flow|Platinum|PROJECT|Public Enterprises|Resources|Standard & Poor's|Sylvania Resources|Africa|DRC|South Africa|Zimbabwe|Energy|Energy Summit|Flow|Maintenance|Platinum-from-dumps Producer|South African Government|Alec Erwin|Andrew Etzinger|John Edwards|Mercedes Benz|Power|Richard Rossiter|Terry McConnachie
DRC||Africa|CoAL|Eskom|Exploration|Flow|Platinum|PROJECT|Resources||Africa|DRC||Energy|Flow|Maintenance|||Power|
cape-town|drc|johannesburg|mogadishu|africa-company|bhp|coal|eskom|exploration|flow-company|platinum|project|public-enterprises|resources|standard-poors|sylvania-resources|africa|drc-country|south-africa|zimbabwe|energy|energy-summit|flow-industry-term|maintenance|platinumfromdumps-producer|south-african-government|alec-erwin|andrew-etzinger|john-edwards|mercedes-benz|power|richard-rossiter|terry-mcconnachie
© Reuse this This podcast is brought to you by Mercedes Benz Commercial, the right partner.



Thursday, May fifteen, 2008.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

Struggling State-owned power utility Eskom on Wednesday remained "cautiously optimistic" that it would squeeze through the winter months without serious load shedding, but warned that its power supply remained in a precarious position.

Demand-side manager Andrew Etzinger said that Eskom was in a better position now than what it was in January, or before winter last year, after having completed maintenance, as well as adding new generation capacity and improving coal stockpiles.

He said that Eskom's average coal stockpile level now stood at 16,2 days, compared with the average ten days in January.

(audio clip)

It is increasingly likely that the South African government, which is the sole shareholder in power utility Eskom, would set out a "smoothed" tariff-increase scenario at the energy summit that will convene in Johannesburg on Friday.

But a high-placed Eskom official said that there still appeared to be a desire to safeguard the utility's BBB+ credit rating with Standard & Poor's, which placed the corporation on a negative credit watch in January.

This implied that the funding shortfall would most probably have to be met through a combination of a debt-raising exercise, as well as from a scaled-up shareholder injection from National Treasury.

At a media briefing in Cape Town on Wednesday, Public Enterprises Minister Alec Erwin gave the strongest indication yet that a smoothed tariff scenario would indeed be pursued.


The biggest challenge for platinum-from-dumps producer Sylvania Resources, was how to spend the "mountain of cash" it had started generating, as the company reported a 34% increase in production to 4 802 ounces of platinum group metals, or PGMs, in the March quarter, and looked set to produce 70 000 ounces a year of PGMs by 2010.

Nonexecutive chairperson Richard Rossiter said that the situation was atypical to any of the junior exploration companies, in that it was producing a mountain of cash flow in the beginning part of its life, instead of asking the shareholders for more cash to drill another hole. The challenge the company has now, is how to spend that cash flow, he said.

The company boasted a margin of 84%, and its pre-tax profit at March 2008 was up 146% quarter-on-quarter to R56-million.

Sylvania CEO Terry McConnachie:
(audio clip)

Also making headlines:

Eskom reveals its pricing hand in tender for near-term capacity
Airbus offers mixed fleet for SAA future requirements
South Africa is right to raise interest rates says the International Monetary Fund
Uranium One posts loss as sales decline
Optimum Coal plans listing as it concludes agreement to buy BHP's colliery
And, Katanga arranging 550-million dollar loan to fund DRC project

In political news:

Zimbabwe presidential runoff vote delayed says government
SADC says Zimbabwe not yet set for fair vote
Ethiopian troops distribute food aid in Mogadishu
And, John Edwards backs Barack Obama's White House bid

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
A former employee of the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) and his accomplice have each been sentenced to 20 years imprisonment after being found guilty of fraud by the Specialised Commercial Court, in...
The Richards Bay Bulk Terminal, in KwaZulu-Natal, loaded 1.49-million tons of cargo in September, exceeding its monthly target of 1.32-million tons, Transnet Port Terminals (TPT) said on Monday. TPT said the reaching of vessel targets ahead of deadline created...
Judge Dennis Davis
The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted on Monday that recommendations were being considered to “detect and...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
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.
 
 
 
 
 
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
IAN EVANS AirWatch file synchronisation and sharing system was initially designed for a large airline company
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...
 
 
 
 
 
 
 
 
 
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