Breaking News
CONSTRUCTION
Aveng Group opens Maputo office
JSE-listed construction firm Aveng Group officially opened an office in Maputo this week in a move to strengthen the group’s overall offering in Mozambique. “The step we are taking today formalises our long-standing relationship with...
15 May 13
CORPORATE ACTIVITY
UK's Lonrho gets buyout offer at nearly double its value
British industrial group Lonrho Plc said it received a £174.5-million ($266.2-million) buyout offer at a premium of 97.1% from a company controlled by Swiss billionaire Thomas Schmidheiny and investor Rainer-Marc Frey.
Africa-focussed...
By: Reuters
15 May 13
OIL AND GAS
Tanzania to offer oil/gas exploration blocks in October
Tanzania plans to offer seven deep offshore blocks and one onshore block in October for oil and gas exploration, state-run Tanzania Petroleum Development Corporation (TPDC) said, in a region that has become a hotbed for gas discoveries.
TPDC said...
By: Reuters
15 May 13
Newsletter - Roundup
Creamer Media publishes African Mining Roundup for April 2013 research report
This month’s report includes details of Canadian gold miner Kinross Gold’s prefeasibility study to expand its Tasiast gold mine, in Mauritania; Aim-listed Weatherly International’s environmental clearance for its Namibian Tschudi copper...
15 May 13
INFRASTRUCTURE
Public sector challenges halt private sector involvement in infrastructure ambitions
A lack of public sector capacity, poor procurement and project implementation, as well as corruption were the main impediments for the roll-out of the public sector’s infrastructure programme, said Consulting Engineers South Africa CEO Graham...
By: Natasha Odendaal
14 May 13
MANUFACTURING
SA tool-making sector to get boost
The Tooling Association of South Africa (Tasa) and the Gauteng Tooling Initiative (GTI) were “on the verge” of launching a “formal cluster” aimed at providing the South African tooling sector access to large automotive tooling contracts....
By: Natasha Odendaal
14 May 13
ECONOMIC GROWTH
IMF sees growth of 5.7% in sub-Saharan Africa in 2014
The IMF on Tuesday forecast economic growth of 5.4% in 2013 and 5.7% in 2014 for the economies of sub-Saharan Africa on the back of rising investment and booming extractive industries. "Sub-Saharan Africa will be among the fastest growing places...
By: Reuters
14 May 13
ENERGY
DoE to review electricity roadmap once bigger energy plan finalised
The Department of Energy (DoE) will work towards finalising an Integrated Energy Plan (IEP) for South Africa during the current financial year, Energy Minister Dipuo Peters said on Tuesday. Speaking at a media briefing prior to her Budget Vote...
By: Chanel de Bruyn
14 May 13
ELECTRICITY
Eskom CEO calls for ‘super grid’ to power up sub-Saharan Africa
The CEO of South African power utility Eskom, Brian Dames, said on Tuesday that countries in sub-Saharan Africa should work together to establish a “super grid” to boost electricity supply in the power-starved region.
Dames told several...
By: Kim Cloete
14 May 13
COMPETITION TRIBUNAL
Sasol customers say lower prices will boost export competitiveness
Despite being called to testify against Sasol Chemical Industries (SCI) during the first week of the Competition Tribunal hearings into allegations of excessive pricing of propylene and polypropylene, Usabco purchasing director Julius Lebi...
14 May 13
NUCLEAR
Chinese companies unveil their nuclear energy offers to SA
China's interest in South Africa's proposed new nuclear power plant (NPP) programme was made manifest on Tuesday when three Chinese nuclear companies held a joint public briefing on their capabilities and technologies at the Energex Africa 2013...
By: Keith Campbell
14 May 13
CONSTRUCTION
Poor building performance, Comp Comm fine see Stefanutti record R162m loss
The biggest culprit in Stefanutti Stocks’ R162-million loss for the year ended February 28, is the building division’s dismal performance, said Stefanutti Stocks CEO Willie Meyburgh on Tuesday.
While the proposed R323-million penalty imposed...
By: Irma Venter
14 May 13
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