Apr 30, 2009
Real Economy ReportBack
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From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week: we ask if the election of a new ANC government will mean new economic policies for the country; an instrumentation company looks to diversify the market; and we look at the impact of the global recession on air freight in Africa.
Tony Twine, senior economist, Econometrix
Ukwazi Mining advert
Chairperson John Barrow says the company is working on entering the oil & gas, the power generation and infrastructure sectors where it sees plenty of growth in future.
B&W Instrumentation, chairperson, John Barrow
Its aim is to secure about R150-million of work in the oil & gas sector, and about R190-million of work in the power generation sector, within the next few months.
Meanwhile, Barrow says the company has experienced delays to projects it was working on, especially outside of South Africa.
International Air Transport Association, Regional Vice-President for Africa, Lance Brogden
We report that South Africa's largest steel merchant, Macsteel, expects the South African steel market to shrink by 30% this year.
Read how South Africa's engineer-to-citizen ratio is worsening, with only 0,5 students produced in engineering and the natural sciences for every 100 members of the population.
And, we report that the world's light vehicle output could fall to its lowest level since 2001.
And in Mining Weekly this week:
We ask what's in store for platinum as the automotive industry declines.
We report that South African gold major Harmony Gold will be debt free by mid-May with 1,5-billion-rand in cash.
And, coal miner Coal of Africa Limited's Vele colliery project faces opposition owing to a likely environmental impact.
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