May 15, 2008
Daily podcast - May 15, 2008Back
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
© Reuse this This podcast is brought to you by Mercedes Benz Commercial, the right partner.
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.
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.
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:
Also making headlines:
Eskom reveals its pricing hand in tender for near-term capacity
In political news:
Zimbabwe presidential runoff vote delayed says government
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
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]...
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....
Updated 7 hours ago Dual-listed oil and gas company SacOil has completed Phase 1 of the field development operations at the Lagia oilfield in Sinai, Egypt. The South African-based independent company, through its subsidiary Mena International Petroleum Company, also completed hydraulic...
Updated 7 hours ago The City of Johannesburg, whose environmental policy innovations include an integrated waste management plan that covers all relevant environmental legislation, has been named the country’s most environment-friendly metropolitan municipality in the Department of...
Updated 7 hours ago The South African Renewable Energy Council (Sarec) has welcomed the conclusions of the Council of Scientific and Industrial Research’s (CSIR’s) ‘Financial benefits of renewables in South Africa in 2014’ report, published on January 21. “The results of this study...
Recent Research Reports
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.
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.
This Week's Magazine
Three-dimensional (3D) printers being sold in South Africa by electronics distributor Rectron currently print in two types of plastic, but have a clear upgrade path over the next five years to eventually print in wood, ceramics and metal-alloy materials, says Rectron...
The world’s two dominant commercial aircraft manufacturers, Airbus of Europe and Boeing of the US, both recently announced that they had made record aircraft deliveries in 2014. Boeing set a global record for the industry with 723 commercial aircraft delivered, while...
The Western Cape is shifting further into the renewable-energy space with the official opening of a factory specialising in solar inverters, a key component of solar photovoltaic (PV) plants. The investment in the manufacturing facility in Cape Town aims to boost the...
Business Leadership South Africa (BLSA) last month welcomed Cabinet’s establishment of a technical team war room to undertake various interventions to improve electricity supply security over the short- and medium-term, but added that the private sector also had a...
Despite a rapid rise in mobile connections and the economic and social benefits of such connectivity, more than half of the world ended 2014 unconnected. For this reason, industry commentators believe the biggest impact of mobile technology is still to come –...