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Aug 27, 2009

Real Economy Report

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From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week:

We look at South Africa's opportunity to boost its manganese business with the help of the world's biggest mining company;
the Airports Company reports on its readiness for the 2010 World Cup;
and we look at South African gold major Harmony, which has declared its first dividend in five years.

This week, Mining Weekly captures the views of the topmost BHP Billiton executives on the need for South Africa to build a bigger and better rail system to the coast for the export of manganese. More from Martin Creamer

Martin Creamer:
BHP Billiton's South African CEO Marius Kloppers and the company's manganese head Peter Beaven both put the case for a logistics partnership with Transnet to lower the cost of manganese exports from the Northern Cape.

Marius Kloppers
BHP Billiton CEO

Peter Beaven
Manganese Head, BHP Billiton

Marius Kloppers

Peter Beaven

Martin Creamer:
The view of Mining Weekly is that South Africa should take up BHP Billiton's investment offer to pave the way for greater manganese exports at lower cost.

Mariaan Webb:
In less than 300 days, South Africa will be hosting the 2010 FIFA World Cup. Dennis Ndaba spoke to Airports Company South Africa managing director Monhla Hlahla about its 2010 preparations.

Dennis Ndaba:
Acsa has revised its 2010 World Cup-related infrastructure expenditure down to R17,8-billion, from R19-billion, owing to the prevailing economic squeeze.

However, Acsa is adamant that it will complete essential 2010-related projects for the efficient facilitation of the soccer World Cup, which is a strategic investment for the company and the country.

Monhla Hlahla
MD, Airports Company South Africa

Dennis Ndaba:
Has the current economic meltdown affected any of these plans?

Monhla Hlahla

Mariaan Webb:
Martin Creamer spoke to Harmony Gold's CEO Graham Briggs, who has managed to turn a R4-billion deficit into R1,6-billion in cash.

Martin Creamer

Graham Briggs
Harmony Gold CEO

Mariaan Webb:
And now for a sneak preview of this week's Engineering News magazine:

Read our cover story on the embattled South African property market, where signs of green shoots are starting to emerge;
We report that the environmental study into a 1,5-billion rand Western Cape wind farm project will start next month;
And State-owned defence industrial group Denel aims to return to profitability by 2012.

And in Mining Weekly this week:
Our cover story looks at the role that carbon capture and storage plays in transforming coal into a cleaner technology;
Simmer & Jack Mines warns it may have to close more shafts to stop a cash bleed;
And diversified-miner Exxaro says a new rail link between the Waterberg and Mpumalanga is needed to ensure South Africa's energy security.

Mariaan Webb:
That's Creamer Media's Real Economy Report. Join us again next week for more news and insight into South Africa's real economy.

 

Edited by: Creamer Media Reporter
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