May 15, 2008
Daily podcast - May 15, 2008Back
Cape Town|Johannesburg|Mogadishu|BHP|Eskom|Public Enterprises|Standard & Poor's|Sylvania Resources|South Africa|Zimbabwe|Energy Summit|Platinum-from-dumps Producer|South African Government|Alec Erwin|Andrew Etzinger|John Edwards|Mercedes Benz|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
Other Intellectual Property Law News
Updated 24 minutes ago The construction of 22 solar-powered tollgates continues to advance across Zimbabwe, with completion targeted for the first quarter of 2014. The solar power initiative, which fell within the country’s plan to upgrade its road transport services as part of an...
Updated 29 minutes ago As the world edges closer to the deadlines outlined in the Millennium Development Goals (MDGs), it has become apparent that much more needs to be done to sustain and accelerate the gains made since 2000. It is also being argued that more emphasis should probably be...
Updated 29 minutes ago Three cities in Africa have re-emerged as regional leaders in terms of information and communication technology (ICT) maturity, Ericsson’s latest report has found. Of the 31 cities measured for ICT maturity in Ericsson’s latest New City Index, Johannesburg, Cairo...
Recent Research Reports
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
Road and Rail 2013: A review of South Africa's road and rail infrastructure (PDF Report)
Creamer Media’s Road and Rail 2013 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...
Liquid Fuels 2013 (PDF Report)
Creamer Media’s 2013 Liquid Fuels report examines South Africa’s liquid fuels market, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing,...
Projects in Progress - Second Edition (PDF Report)
Creamer Media’s second Projects in Progress supplement considers some of the major project developments under way, including high-profile energy and transport projects, as well as a few of the lower-profile public and private developments. What remains apparent is...
Water 2013: A review of South Africa’s water sector (PDF Report)
Creamer Media’s Water 2013 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.
Canadian Mining Roundup for June 2013 (PDF Report)
The June 2013 roundup includes details of the development of TSX-V-listed Aldridge Minerals’ flagship Yenipazar polymetallic project, in Turkey; the Canadian Nuclear Safety Commission’s renewal of Cameco’s uranium mining licence pertaining to the Cigar Lake...
This Week's Magazine
Johannesburg-based locomotive solutions provider DCD Rolling Stock officially launched Phase 1 of its R240-million recapitalisation programme at its Boksburg manufacturing facility, last month.
Sales of electric cars should pick up once more such vehicles become available on the South African market, says Nissan South Africa (SA) chief marketing manager Ross Garvie. The local arm of the Japanese car company launched the country’s first fully electric...
Denel Land Systems’ (DLS) Mechem division is successfully marketing the latest version of its highly regarded Casspir mine-protected vehicle, the Casspir NG2000 series wide body ambulance. As its description says, this has a notably wider body than standard...
The infrastructure boom in Africa has seen investment in 322 megaprojects reach $222.7-billion, says professional services firm Deloitte in its ‘African Construction Trends’ report. Deloitte Southern Africa infrastructure and capital projects leader André Pottas...
ASME, the international engineering profession’s cooperative, educational and training, research, outreach and codes and standards development organisation (originally the American Society for Mechanical Engineers, founded in 1880), is seeking to improve the...
Next ArticleSA–China relations a basis for economic survival