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Latest News

Western Cape reiterates need to save water as dam levels reach 31%

By: Anine Kilian     Updated 1 hour 24 minutes ago The average water level for dams across the Western Cape has reached 31% following recent rainfall, compared with a level of 58% at the same time last year. Western Cape Local Government, Environmental Affairs and Development Planning Minister Anton Bredell has cautioned the public about the... 

Tokyo Steel raises product prices for first time in 7 months

By: Reuters     Updated 1 hour 26 minutes ago Tokyo Steel Manufacturing Co , Japan's top electric-arc furnace steelmaker, said on Monday it will raise its product prices in September by up to 5.4% to reflect strong demand at home and abroad as well as higher materials costs. The company will boost prices of 11 products by 2 000 yen to 3 000... 

Gambia presidency says blocks claimed by African Petroleum open for bids

By: Reuters     Updated 1 hour 27 minutes ago African Petroleum's rights to explore in two offshore Gambian oil blocks have expired and are currently "open for licensing", presidential spokeswoman Amie Bojang said on Monday. The Oslo-listed firm's CEO met with President Adama Barrow last month after oil officials in the West African nation... 

Tlou secures mining licence for Lesedi CBM project

By: Anine Kilian     Updated 1 hour 46 minutes ago Aim- and ASX-listed Tlou Energy has been granted a mining licence for its Lesedi coal-bed methane (CBM) gas project, in Botswana. “The mining license for the Lesedi CBM project was the first application of its kind to be lodged in Botswana. The awarding of the licence by the Ministry [of Mineral... 

Infrastructure initiative garners support from nine African presidents

By: Natasha Odendaal     Updated 1 hour 47 minutes ago Spearheaded by South Africa’s President Jacob Zuma, the Presidential Infrastructure Champion Initiative (PICI), aimed at accelerating regional trade and unlocking the economic potential of the continent, now has nine African presidents on board, with ten projects in the spotlight as Africa... 

Infrastructure initiative garners support from nine African presidents

Sasol review may result in sale or closure of assets, but no ‘fire sale’ 

By: Terence Creamer     Updated 1 hour 51 minutes ago Chemicals and energy group Sasol has announced that an asset-review process is under way that could result in the sale, closure or growth of certain assets. However, the JSE-listed company has also stressed that there will be no “fire sale”. Joint president and CEO Bongani Nqwababa reports that... 

Sasol review may result in sale or closure of assets, but no ‘fire sale’
Sasol joint president and CEO Bongani Nqwababa speaks to Terence Creamer about the group's results, asset review, tax shock and strategic outlook. Camera Work & Editing: Nicholas Boyd & Duane Daws. Recorded: 21.8.2017

Tanzania’s 55% share of mine revenue ‘pretty generous’ – AngloGold

By: Martin Creamer     Updated 2 hours 9 minutes ago The share of revenues that the government of Tanzania has received from the Geita gold mine is “pretty generous” when compared with what shareholders have received, AngloGold Ashanti CEO Srinivasan Venkatakrishnan said on Monday when the company reported an adjusted headline loss of $93-million,... 

Tanzania’s 55% share of mine revenue ‘pretty generous’ – AngloGold
Photo by Creamer Media
AngloGold Ashanti CEO Srinivasan Venkatakrishnan

Basil Read to swing to H1 loss

By: Anine Kilian     Updated 2 hours 14 minutes ago JSE-listed Basil Read expects to report a headline loss a share of between 290c and 300c for the six months ended June 30, compared with headline earnings a share of 48.92c in the first half of 2016. It further expects to report a basic loss a share of between 359c and 365c for the six months... 

SEZ board members undertake study tour to China

By: Anine Kilian     Updated 2 hours 27 minutes ago Members of South Africa’s Special Economic Zones (SEZs) Advisory Board are participating in a week-long study tour in China to learn from the Chinese experience in the planning, development and management of SEZs.   The group will gain insight into the implementation and impact of the SEZ model... 

Sasol turns to courts after Sars slaps it with tax bills worth R12.8bn 

By: Terence Creamer     Updated 3 hours ago JSE-listed energy and chemicals group Sasol will approach the Supreme Court of Appeal (SCA) to resolve a tax dispute with the South African Revenue Service (Sars), which has slapped it with assessments for outstanding tax liabilities and penalties worth R12.8-billion. The company made a... 

Sasol turns to courts after Sars slaps it with tax bills worth R12.8bn
Sasol CFO Paul Victor on the group's tax dispute with the South African Revenue Service. Camera Work & Editing: Nicholas Boyd. Recorded: 21.8.2017

Infrastructure deficit shaves 40% off Africa’s competitiveness

By: Natasha Odendaal     Updated 5 hours ago Africa’s multibillion-dollar infrastructure deficit is not only severely hampering seamless regional integration, industrialisation and efficiencies, but is also detrimental to the overarching competitiveness of the emerging continent. It is believed that Africa could be losing in excess of 40%... 

Infrastructure deficit shaves 40% off Africa’s competitiveness
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

Balwin, Transcend partner to deliver 8 900 affordable rental apartments in Gauteng

By: Anine Kilian     Updated 5 hours ago JSE-listed Balwin Properties and Transcend Residential Property Fund have entered into a strategic alliance to bring to market up to 8 900 quality, affordable rental apartments across five developments in key Gauteng nodes over the next six years.   Balwin will be responsible for the design and... 

Robotics surgery offers peace of mind to more men with prostate cancer

By: Kim Cloete     Updated 6 hours ago As the field of robotics advances, South Africans are increasingly opting for robotics surgery for prostate cancer as an alternative to conventional procedures. Urological and robotics surgeon Dr Greg Boustead says medical schemes are beginning to appreciate the long-term, overall benefits of the... 

Robotics surgery offers peace of mind to more men with prostate cancer

Cell C appoints new chairperson, deputy chairperson

By: Anine Kilian     Updated 6 hours ago Telecommunications giant Cell C has appointed Kuben Pillay and Larry Nestadt to its board. The appointments follow the recent recapitalisation of Cell C whereby telecommunication company’s Blue Label Telecoms and Net1 respectively acquired 45% and 15% of the company’s share capital.   “We are... 

Hyundai SA mulls heavy truck introduction, awaits 2019 small SUV

By: Irma Venter     Updated 6 hours ago Hyundai Automotive South Africa (HASA) is testing the Xcient heavy-duty truck for possible introduction into the South African new-vehicle market. HASA CEO Niall Lynch says the truck, with a gross vehicle mass of 36.6 t, is undergoing road tests within Imperial Logistics. 

Hyundai SA mulls heavy truck introduction, awaits 2019 small SUV
The Xcient

Guptas sell ANN7 and The New Age to Mzwanele Manyi

By: News24Wire      Updated 7 hours ago A firm owned by Mzwanele Manyi has bought Gupta-owned media units ANN7 and The New Age, it was announced on Monday. Gupta-owned Oakbay Investments said in a statement that Manyi-owned Lodidox bought ANN7 (Infinity Media) for R300-million and The New Age (TNA Media) for R150-million. 

 Guptas sell ANN7 and The New Age to Mzwanele Manyi

Sasol FY earnings fall 15%

By: Reuters     21st August 2017 South African petro-chemicals group Sasol reported a 15% drop in full-year headline earnings on Monday, hit by a stronger rand, a provision for tax litigation and labour action. Headline earnings per share (HEPS), the main profit gauge in South Africa which strips out certain one-off items, fell... 

Sasol FY earnings fall 15%

Strong operating recovery as AngloGold sets new safety record

By: Martin Creamer     21st August 2017 Production of 1.748-million ounces after strong second-quarter recovery has put AngloGold Ashanti virtually at the halfway mark to meet full year guidance, CEO Srinivasan Venkatakrishnan said on Monday in presenting the company’s half-year results that also saw full-year cost guidance remain... 

Strong operating recovery as AngloGold sets new safety record
Photo by Duane Daws
AngloGold Ashanti CEO Srinivasan Venkatakrishnan

Zambia restores full power supply to First Quantum mines

By: Reuters     21st August 2017 Zambia has restored full electricity supply to the mines of First Quantum Minerals, the ministries of finance and energy said on Saturday, after reducing power to the mines earlier this week in a dispute over new, higher prices. Zambia's state power company reduced electricity supply to two First... 

WTO mixed ruling in Indonesia steel import duties case

By: Reuters     18th August 2017 Duties imposed by Indonesia on imports of certain flat-rolled iron or steel products do not constitute WTO safeguard measures, a World Trade Organization (WTO) panel said on Friday, rejecting the key argument of complaints brought by Taiwan and Vietnam. Safeguard duties are emergency tariffs that... 

Competition Commission sets sights on high data costs 

By: Natasha Odendaal     18th August 2017 The Competition Commission has initiated a market inquiry into data services following widespread calls by consumers for lower data costs and subsequent queries from at least three Ministers over high data costs and data affordability. With the gazetting of the terms of reference (ToR) of the... 

Cesa Aon Engineering Excellence Awards winners for 2017 announced

     18th August 2017 Consulting Engineers South Africa (Cesa), supported by Aon South Africa, on Thursday announced the winners of this year’s Cesa Aon Engineering Excellence Awards, which recognise outstanding achievements in the engineering industry and celebrate innovation, quality, outstanding workmanship and... 

Cabinet approves coastal tourism plan

By: Anine Kilian     18th August 2017 Cabinet has approved a coastal and maritime tourism implementation plan. In a statement released on Friday, Tourism Minister Tokozile Xasa said the implementation plan was developed by the Department of Tourism in partnership with various tourism stakeholders.   

Cabinet approves coastal tourism plan

Latest technology promises to solve drone/manned aircraft interaction problem

By: Keith Campbell     18th August 2017 The latest generation of aircraft transponder technology, known as ADS-B, offers to provide the safety and security necessary to prevent collisions between manned aircraft and civil unmanned aerial vehicles (UAVs, popularly known as drones) and so will allow drones to be operated in controlled... 

Latest technology promises to solve drone/manned aircraft interaction problem

Discovery CE scoops innovation award

By: Kim Cloete     18th August 2017 Discovery Group CE Adrian Gore has been awarded the 2017 Growth, Innovation and Leadership (GIL) Visionary Innovation Award: Africa 2017. He received the award from global research and consulting organisation Frost & Sullivan, which, this week, hosted its yearly GIL Africa summit, in Cape Town.... 

ARB lifts FY profit, despite flat revenue

By: Anine Kilian     18th August 2017 JSE-listed ARB Holdings has maintained its revenue at R2.5-billion for the year ended June 30, while gross profit rose 8.4% year-on-year, owing to disciplined trading practices. The company on Friday said its electrical division's revenue remained constrained as a result of the limited government... 

Afrox anticipates higher interim earnings

By: Anine Kilian     18th August 2017 Higher sales volumes and improved operational efficiencies have contributed to an expected 20% to 32% year-on-year rise in JSE-listed Afrox’s earnings per share (EPS) for the six months to June 30. EPS are likely to be between 93c and 103c, compared with 77.8c in the first six months of 2016. 

Ten injured after Metrorail train derails near Bellville station

By: African News Agency      18th August 2017 At least ten people suffered minor to moderate injuries when a train carriage derailed near Bellville station in Cape Town on Friday morning. Emergency services provider ER24 said that at about 08.15, paramedics from ER24, Metro EMS and Rescue Services, police, as well as other services, arrived... 

Gordhan declaratory relief application dismissed

By: News24Wire      18th August 2017 A court has ruled that former finance minister Pravin Gordhan's application seeking declaratory relief from having to intervene with the banks has been dismissed. Judge Aubrey Ledwaba read out the order at the North Gauteng High Court on Friday. 

Gordhan declaratory relief application dismissed
Photo by Reuters
Former Finance Minister

Cost of disintegration to thwart de-globalisation efforts, Lamy avers 

By: Terence Creamer     18th August 2017 Former World Trade Organisation director-general Pascal Lamy sees no turning back from globalisation, despite the current rise in political nationalism and trade protectionism. Speaking in Johannesburg this week, Lamy argued that the cost of “disintegration” would simply be too high for countries... 

Cost of disintegration to thwart de-globalisation efforts, Lamy avers
Pascal Lamy

Opinion: Turning the chicken war into a trade war

     18th August 2017 In this opinion article, XA director Donald Mackay questions why legitimate legal processes are being overlooked in the dispute over European Union chicken imports. Mackay acknowledges that his consultancy is not a disinterested party in the matter. I read the recent fiery opinion piece by... 

Opinion: Turning the chicken war into a trade war
Donald Mackay

South Africa rate cut likely in November; possibility of September

By: Reuters     18th August 2017 South Africa's Reserve Bank is expected to cut interest rates again in November and possibly even September given the relatively tame inflation outlook, a Reuters poll found on Friday. The central bank unexpectedly cut its repo rate by 25 basis points to 6.75% for the first time in five years in... 

Cape Town reveals sites of proposed new water desalination plants

By: News24Wire      18th August 2017 Cape Town's Granger Bay, Hout Bay and Dido Bay may soon be home to three proposed new desalination plants that the city intends commissioning to make extra drinking water for its residents and visitors, according to tender documents issued this week. Earlier on Thursday Cape Town Mayor Patricia... 

Still much uncertainty as LPG stakeholders grapple with market inquiry findings

By: Mia Breytenbach     18th August 2017 In the findings and recommendations of the first-ever market inquiry into the local liquefied petroleum gas (LPG) industry, the Competition Commission urges public and private organisations to improve performance in the sector, yet much uncertainty remains in the wake of the report’s publication.... 

Still much uncertainty as LPG stakeholders grapple with market inquiry findings

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      18th August 2017 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers an Engineering News Online app for iPhone and Android users.  These apps... 

Engineering News iPhone and Android Apps available for free download

Africa can benefit from global volatility

By: Kim Cloete     17th August 2017 Despite major global challenges, including global trade, Africa has the opportunity to step up to global change and benefit from the volatility that is shaking up the world, says Thomson Reuters Africa MD Sneha Shah. “Africa has the richest resource pool in the world, but we always lose, because... 

RAL, Northam partner to upgrade road in Waterberg district

By: Anine Kilian     17th August 2017 Roads Agency Limpopo (RAL) and platinum producer Northam Platinum have signed a R60-million strategic partnership to upgrade the P20 road that links Sataria to the road artery that goes to Koedoeskop, in the Waterberg district. Under the terms of the agreement, RAL will contribute R37.5-million... 

Business leaders facing the wave of digital transformation

By: Kim Cloete     17th August 2017 Business leaders are urgently trying to keep pace with the surging pace of digital transformation globally.   Frost & Sullivan senior partner Dorman Followwill told delegates at the Growth, Innovation and Leadership (GIL) Africa 2017 summit, in Cape Town, on Thursday that the world was faced with... 

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