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End to Eskom ‘stalemate’ will unleash wind market in 2017 – GWEC

By: Terence Creamer     Updated 51 minutes ago The Global Wind Energy Council (GWEC) expects a recovery in the deployment of wind projects in South Africa, following a hiatus in 2016 brought about by Eskom’s refusal to enter into power purchase agreements (PPAs) for renewable-energy projects procured in 2015. In its ‘Global Wind Report:... 

End to Eskom ‘stalemate’ will unleash wind market in 2017 – GWEC

LNG-focused energy aspirant plans June listing on AltX

By: Terence Creamer     Updated 5 hours ago A black-empowered energy company, with a specific focus on liquefied natural gas (LNG), intends listing as a special purpose acquisition company on the JSE’s AltX board in June. African Energy Partners Limited (AEP) will seek to raise up to R500-million to help fund its first “viable... 

Zuma again stresses drive for ‘radical economic transformation’ at launch of Free State SEZ

By: Anine Kilian     Updated 58 minutes ago The 103 ha Maluti-A-Phofung Special Economic Zone (MAP-SEZ) in Harrismith, in the Free State, forms an important part of government’s SEZ Programme, which is aimed at ensuring excluded areas of the country are developed and able to contribute to the country’s economic growth. Speaking at the... 

Zuma again stresses drive for ‘radical economic transformation’ at launch of Free State SEZ
Photo by Duane Daws
President Jacob Zuma and Trade and Industry Minister Dr Rob Davies

DA launches court bid to force Zuma to reveal reasons for Cabinet reshuffle

By: African News Agency      Updated 42 minutes ago The Democratic Alliance on Tuesday filed an urgent application with the Pretoria High Court to compel President Jacob Zuma to reveal his reasons for last month’s sweeping Cabinet reshuffle. The head of the party’s federal executive, James Selfe, said the application went hand in hand with the... 

Reserve Bank’s leading business cycle indicator up 1.1% in February

By: African News Agency      Updated 2 hours 29 minutes ago The South African Reserve Bank said on Tuesday its composite leading business cycle indicator increased by 1.1% on a month-to-month basis in February 2017. “Six of the ten component time series that were available for February 2017 increased, while four decreased,” the bank said. 

Rosatom to aid IAEA in developing atomic infrastructures in new nuclear countries

By: Keith Campbell     Updated 1 hour 46 minutes ago Russia’s national atomic energy group Rosatom and the International Atomic Energy Agency (IAEA) have concluded a Contribution Agreement, under which the group will help fund IAEA nuclear infrastructure development programmes, Rosatom announced on Tuesday. These programmes assist countries seeking... 

Ekurhuleni sets aside R12bn to assist youth owned businesses and SMMEs

By: African News Agency      Updated 2 hours 42 minutes ago The Mayor of Ekurhuleni Mzwandile Masina on Tuesday said the city has set aside R12-billion to ensure youth owned businesses and small, medium-sized and microenterprises (SMMEs) to reposition themselves as capable and preferred service providers to government. “The money will be ring-fenced to... 

Herbert Smith Freehills to launch legal learnership programme in Johannesburg

By: Megan van Wyngaardt     Updated 6 hours ago Global law firm Herbert Smith Freehills (HSF) is set to extend its innovative Alternative Legal Services (ALT) business to Johannesburg. The business will combine a mix of legal expertise, process efficiency and technology to handle high-volume or document-intensive work more efficiently and cost... 

Herbert Smith Freehills to launch legal learnership programme in Johannesburg

Tsogo Sun invests R220m in new Maputo hotel

By: Creamer Media Reporter      Updated 5 hours ago Construction has started on Tsogo Sun’s new R220-million, 125-room StayEasy Maputo hotel, in Mozambique. The hotel, which will be completed by April 2018, is being built as part of a mixed-use development and will be located above the new Baia Mall that is under construction. 

Tsogo Sun invests R220m in new Maputo hotel

Eskom connects more households to the grid

By: Megan van Wyngaardt     Updated 6 hours ago State-owned electricity provider Eskom has connected 47 402 more households across the Eastern Cape to the electricity grid during the financial year ended March 31, at a cost of R830-million. Further, in Mpumalanga, over 120 households in kaMajika near Hazyview received electricity in their area... 

Metrobus implements improved operating hours on OR Tambo-Joburg CBD route

By: African News Agency      Updated 2 hours 12 minutes ago Johannesburg Metrobus announced on Tuesday that it has implemented improved operating times on the OR Tambo International Airport route during off-peak hours to connect commuters with airlines. “Passengers travelling to and from OR Tambo International Airport will find the additional bus services... 

Afrimat expects higher FY earnings

     Updated 6 hours ago Construction materials producer Afrimat expects its earnings a share to rise by 22% to 27% to between 190.6c and 198.4c for the financial year ended February 28. Headline earnings a share are also expected to rise by 22% to 27% to between 191.1c and 198.9c. 

SAA, Hawaiian Airlines strike deal

By: African News Agency      Updated 2 hours 39 minutes ago South African Airways on Tuesday said it had struck a deal with Hawaii’s largest and longest serving carrier, providing new, convenient flight options for travel between the Hawaiian Islands and Southern Africa. “This new interline partnership enables SAA and Hawaiian Airlines to broaden their... 

Africa urged to transform dependence on commodities

By: African News Agency      Updated 6 hours ago Even as the world emerges from the worst of the global commodity price meltdown, African countries were urged on Tuesday to make the most of the next upward cycle to diversify and industrialise away from over-reliance on exports of raw materials. In a statement, Dr Martyn Davies, Deloitte... 

Sibanye’s Stillwater buy wins strong shareholder support

By: Martin Creamer     Updated 6 minutes ago JOHANNESBURG (miningweekly.com) – Shareholders have voted overwhelmingly in favour of Sibanye acquiring Stillwater, the US platinum group metals (PGMs) company. The number of shares that voted in favour of the proposed deal made up 83% of Sibanye’s total issued share capital. 

Sibanye’s Stillwater buy wins strong shareholder support
Photo by Duane Daws
Sibanye CEO Neal Froneman

Anglo commits to innovative mining that’ll keep people out of harm’s way

By: Martin Creamer     Updated 1 hour 12 minutes ago Keeping people out of harm’s way, extracting more precious ore and less waste rock, recycling all the required water and producing only dry tailings are among the innovative steps diversified mining company Anglo American is firmly committed to taking.  “The real future of mining lies in turning... 

Anglo commits to innovative mining that’ll keep people out of harm’s way
Anglo American Chairperson Sir John Parker

Cairo 'cargotecture' company transforms shipping containers into homes

By: Reuters     Updated 3 hours ago An Egyptian design duo has begun re-purposing old steel shipping containers, transforming them into living spaces, shops and restaurants in an effort to introduce residents of overcrowded Cairo to cheaper and more versatile properties. Qubix, a year-old company founded by Youssef Farag and Karim... 

Six new prospecting licences awarded to Botswana Diamonds

By: Martin Creamer     Updated 5 hours ago London Aim-listed Botswana Diamonds on Tuesday announced that its joint venture (JV) with the large Russian diamond company, Alrosa, had been awarded of six new prospecting licences in Botswana.   Four are in the Central Kalahari Game Reserve (CKGR) and two are in the Orapa kimberlite province... 

Six new prospecting licences awarded to Botswana Diamonds
Botswana Diamonds chairperson John Teeling

DA wants National Treasury to blacklist companies involved with Nkandla upgrades

By: African News Agency      Updated 7 hours ago The leader of the Democratic Alliance (DA) Mmusi Maimane on Tuesday said not a single one of the 14 companies involved in the scandalous upgrades at Nkandla has been blacklisted, or “placed on the restricted supplier database”. “The Minister of Public Works Nathi Nhleko has revealed that 8 of the... 

DA wants National Treasury to blacklist companies involved with Nkandla upgrades
Photo by Duane Daws
DA leader Mmusi Maimane

Western Cape to grow business ties with incoming French government

By: African News Agency      25th April 2017 The Western Cape Investment and Trade and Promotion Agency (Wesgro) said on Monday it was closely monitoring the remaining leg of the first round of France’s most contested and controversial election with the aim of growing business ties with France and the European Union (EU). Widely considered... 

88 days of water left in Cape Town

By: News24Wire      25th April 2017 The City of Cape Town on Monday said the city's feeder dams only have enough water for another 88 days. The city asked residents to decrease city water usage to 600-million litres per day. Previously the city’s target was to have consumption below 700-million litres per day. 

ANC to introduce amended land claims bill in May

By: Reuters     25th April 2017 The African National Congress (ANC) will introduce an amended land rights bill in parliament in May after the top court declared invalid a law that re-opened a process for blacks to make claims on land taken from them during white-minority rule. The Restitution of Land Rights Bill, allowing state... 

ANC to introduce amended land claims bill in May

Construction of M1 Oxford, Federation bridges to enter final phase

By: Anine Kilian     24th April 2017 The Johannesburg Roads Agency (JRA) on Monday said construction upgrades on the M1 freeway’s Oxford and Federation bridges will enter the third and final phase in May. The R127-million project is 75% complete, with the majority of fill and stabilisation of underground conditions completed on the... 

Construction of M1 Oxford, Federation bridges to enter final phase

LPG industry urged to act on non-binding market inquiry findings 

By: Terence Creamer     24th April 2017 South Africa’s Competition Commission has made far-reaching, yet non-binding, recommendations for dealing with prevailing “market distortions” in the domestic liquid petroleum gas (LPG) sector following its first-ever market inquiry, which took nearly three years to complete. The report... 

LPG industry urged to act on non-binding market inquiry findings
Photo by Duane Daws
Commissioner Tembinkosi Bonakele and Minister Ebrahim Patel

Auditor General findings on water department disturbing – Outa

By: Megan van Wyngaardt     24th April 2017 The Organisation Undoing Tax Abuse (Outa) is investigating alleged abuse of capital grants, which were intended to address the dire situation of South Africa’s increasingly threatened natural water resources, following “disturbing” findings by the Auditor General (AG) in a special performance... 

Competition Commission approves buyout of ASA Metals' ferrochrome production assets

By: Megan van Wyngaardt     24th April 2017 The Competition Commission has recommended that the Competition Tribunal approve the proposed merger between ferrochrome producer ASA Metals and Newco. Newco is a newly created joint venture between Sinosteel and Samancor. Sinosteel operates globally in the production, supply and procurement of a... 

Global steel production reaches 410Mt in Q1

By: Megan van Wyngaardt     24th April 2017 South Africa produced an estimated 1.56-million tonnes of steel in the first quarter of the year, the World Steel Association (worldsteel) said on Monday. This was roughly the same as the 1.54-million tonnes  produced in the first quarter of 2016 and came on the back of flat year-on-year... 

CIG uncertain about local outlook, but sees growth potential in Africa

By: Megan van Wyngaardt     24th April 2017 Pan-African infrastructure group Consolidated Infrastructure Group (CIG) on Monday posted revenue growth of 29% to R2.7-billion for the six months to February 28, owing to its strategy to expand across Africa’s energy markets. The company further reported a 20% year-on-year increase in its... 

BlueNova launches production facility as lithium battery bug bites in South Africa  

By: Kim Cloete     24th April 2017 Energy storage solutions company Blue Nova has launched a new production facility in Somerset West, near Cape Town, to keep up with rising demand for lithium-iron-yttrium-phosphate (LiFeYPO4) batteries. Lithium-ion batteries, of which LiFeYPO4 batteries are a type, are seen as an excellent... 

AfDB welcomes Zambia, Ghana to bond index

By: Megan van Wyngaardt     24th April 2017 The African Development Bank (AfDB) has added Zambia and Ghana to its African Bond Index (ABI), expanding the index to the eight most liquid sovereign bond markets in Africa. The ABI provides investors with a tool with which to measure and track the performance of Africa’s bond markets. 

LafargeHolcim CEO to depart in wake of Syria controversy

By: Reuters     24th April 2017 LafargeHolcim CE Eric Olsen will leave the company in July, the world's largest cement maker said on Monday, in the wake of an investigation into allegations the company paid armed groups in Syria to keep a plant operating. The company admitted in March that its plant in Jallabiya probably paid... 

More than 2 million tertiary students get NSFAS funding – Nzimande

By: African News Agency      24th April 2017 More than two million students studying at South Africa’s public Universities and Technical and Vocational Education and Training (TVET) colleges have been funded by the National Student Financial Aid Scheme (NSFAS) since 2013, the Minister of Higher Education and Training Dr Blade Nzimande said... 

More than 2 million tertiary students get NSFAS funding – Nzimande
Higher Education Minister Blade Nzimande

Aspen welcomes DA-initiated price-fixing probe

By: African News Agency      24th April 2017 Aspen Pharmacare on Monday issued a statement welcoming reports that South Africa’s Competition Commission had agreed to take up a request from the country’s official opposition to investigate alleged anti-competitive conduct by the company. The South African pharmaceutical company said it... 

Nigerian minister asks builders to construct better after spate of collapsing buildings

By: African News Agency      24th April 2017 Nigeria is concerned after a spate of collapsing buildings, which a government minister blamed on a lack of commitment to quality by some builders. In 2014, some 84 South Africans were killed during one of these collapses, at a church in Lagos run by prominent pastor TB Joshua. The pastor denied... 

Acquisitions add value to Rebosis’s interim results

By: Megan van Wyngaardt     24th April 2017 Despite the tough domestic economic environment, JSE-listed property company Rebosis declared a dividend of 60.80c apiece for the six months to February 28. This amounted to a 7.1% year-on-year growth, within the company’s 7% to 9% guidance for the full year. 

Japan steel industry head says concerned at Trump 'protectionism'

By: Reuters     24th April 2017 Japanese steelmakers are concerned at "protectionism" by US President Donald Trump, Japan Iron and Steel Federation chairperson Kosei Shindo said on Monday, following Trump's first shot across China's bows over steel exports. Japan is the world's second-largest steel producer, although Shindo... 

Syrah awards logistics contract to Grindrod

By: Esmarie Swanepoel     24th April 2017 Graphite developer Syrah Resources has awarded the graphite distribution and logistics services supply contract at its Balama project, in Mozambique, to JSE-listed Grindrod Mauritius. The contract includes the provision of long haul trucking services for graphite concentrate from the Balama site... 

Outa welcomes Brown’s decision to refuse Molefe’s R30m pension payout 

By: Megan van Wyngaardt     24th April 2017 The Organisation Undoing Tax Abuse (Outa) on Monday welcomed Public Enterprises Minister Lynne Brown’s decision to decline State-owned electricity provider Eskom’s proposal to pay its former CEO Brian Molefe a R30-million pension payout, noting that it was setting a precedent by placing an end to... 

Outa welcomes Brown’s decision to refuse Molefe’s R30m pension payout
Photo by Duane Daws
Brian Molefe

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