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Latest News

South African defence industry group beleaguered by financial woes

By: Keith Campbell     13th December 2017 Trade union Solidarity on Wednesday reported that State-owned defence industrial group Denel might not be able to pay its staff their salaries for December. It did so in a press release, following a meeting with Denel management, and expressed its “shock and concern” at the situation. The union... 

Novovoronezh NPP Unit 7 nearing completion

By: Nadine James     13th December 2017 The construction of a 1 200 MW water-to-water energetic reactor (VVER) for Unit 7 at Russian State-owned nuclear company Rosatom’s Novovoronezh nuclear power plant (NPP) is nearing completion, Novovoronezh NPP information and public relations head Yuri Molotov told a delegation of African media... 

High court orders Zuma to pay costs for challenging Madonsela

By: Reuters     13th December 2017 South Africa's High Court ordered President Jacob Zuma on Wednesday to pay for an attempt to block an inquiry into claims of influence-peddling in his government, describing the lawsuit he filed as an abuse of the judicial process. In the latest in a series of judicial blows to Zuma's... 

High court orders Zuma to pay costs for challenging Madonsela
President Jacob Zuma

Mozambique President sacks energy and foreign ministers

By: Reuters     13th December 2017 Mozambican President Filipe Nyusi has sacked four ministers, including those with the foreign affairs and energy portfolios, his office said in a statement late on Tuesday. No reasons were given for the dismissal of Mineral Resources and Energy Minister Leticia da Silva Klemens, Foreign Affairs... 

Macron: World is losing battle against climate change

By: News24Wire      13th December 2017 French President Emmanuel Macron delivered a stark warning on climate change at a meeting in Paris, urging political and business leaders to launch an urgent new phase in the fight against global warming. "We are losing the battle," Macron said at Tuesday's " One Planet " summit.  "We must all... 

Decreasing employment in South Africa a sign of ‘deeply troubled economy’ – Seifsa

By: African News Agency      13th December 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Tuesday that South Africa’s employment statistics showed signs of a “deeply troubled economy” and was a serious cause for concern. This comes after Statistics South Africa released its Quarterly Employment... 

CGS discovers fresh water resource in Beaufort West

By: African News Agency      13th December 2017 An unprecedented discovery of a fresh water resource has been found in Beaufort West, Western Cape, the Department of Mineral Resources said on Tuesday.  According to the department, the resource was discovered by the Council for Geoscience (CGS), a statutory science council reporting to the... 

Day Zero moved forward as Cape Town water consumption increases to 'dangerous levels'

By: News24Wire      13th December 2017 Cape Town's "Day Zero" has moved forward by two days after water consumption increased to "dangerous levels" from an average of 611-million litres per day last week to 628-million litres this week, Mayor Patricia de Lille said on Tuesday. "This means that many people have relaxed their... 

Day Zero moved forward as Cape Town water consumption increases to 'dangerous levels'

TPT unveils locally assembled diesel-electric straddle carriers

By: Shirley le Guern     12th December 2017 State-owned freight transport company Transnet Port Terminals (TPT) on Tuesday unveiled 23 locally assembled diesel-electric straddle carriers at the Durban Container Terminal Pier 2, marking an important milestone in fostering local procurement and laying the foundation to supply cargo handling... 

TPT unveils locally assembled diesel-electric straddle carriers
One of 23 straddle carriers unveiled at Pier 2 in Durban being put through its paces

SA power plant listed 4th dirtiest in world's 'Dirty Dozen'

By: News24Wire      12th December 2017 South Africa’s Thabametsi project has been listed as one of the “Dirty Dozen projects”, twelve fossil fuel projects worldwide environmental groups say exemplify the massive volumes of public finances still flowing to fossil fuel projects, which are driving climate change. The list comes as world... 

Glencore guiding soaring 2018 earnings

By: Martin Creamer     12th December 2017 Diversified mining and marketing company Glencore sees itself as being best placed for the electric vehicle revolution through its ‘tier 1’ copper, cobalt, nickel, zinc and thermal coal assets. The company said in an investor day update on Tuesday that sustainably low-cost and long-life first... 

Glencore guiding soaring 2018 earnings
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

China steel futures steady, mill output cuts continue

By: Reuters     12th December 2017 Chinese steel futures held steady on Tuesday, but prices for steelmaking raw material iron ore dropped as steel mills in the world's top producer cut output. China's government has vowed to clear its air, ordering 28 cities to curb industrial production, prompting a shortage of supplies in some... 

Germany favours Eurofighter as it seeks to replace Tornado

By: Reuters     12th December 2017 The German Defence Ministry said on Monday that the European fighter jet was the leading candidate to replace its Tornado jets, which it wants to start phasing out in 2025. The ministry’s position appears to contradict that of the German air force, whose chief indicated last month that he... 

Kosmos Energy to plug offshore Mauritania well

By: Reuters     12th December 2017 Kosmos Energy said it would plug one of its exploration wells offshore Mauritania after it failed to find significant amount of oil and gas. Evaluation of logs and samples collected during drillingand wireline operations suggests the Campanian reservoir objective was water-bearing with some... 

Gibela factory on track 

     12th December 2017 Creamer Media Senior Deputy Editor Irma Venter recently met with the new CEO of Gibela Rail Transport Consortium Thierry Darthout to discuss the latest developments with regard to the construction of the company’s train manufacturing plant in Dunnottar, Gauteng. She speaks to Creamer Media’s... 

Gibela factory on track
Gibela factory on track

Siemens to build two gas-powered electricity plants in Libya

By: African News Agency      12th December 2017 Germany’s Siemens says it has signed contracts worth some €700-million ($824-million) to build two gas-powered electricity plants in Libya, AP reports. The plants are to be constructed in Misrata and Libya’s capital Tripoli, according to the Munich-based industrial conglomerate. 

New JV to develop small-scale Zambian hydropower projects

By: Schalk Burger     12th December 2017 The New Africa Power joint venture (JV) plans to develop a 65 MW portfolio of small-scale, run-of-the-river hydropower projects in Zambia. The JV, established by Nairobi-based energy holding company responsAbility Renewable Energy, international finance institution Norfund and investment company... 

Sars concerned about falling tax compliance

By: Reuters     12th December 2017 The South African revenue service (Sars) is concerned about falling tax compliance as some tax payers have stopped paying their taxes over unhappiness with the government, the agency said on Tuesday. Finance Minister Malusi Gigaba shocked markets in October when he said tax revenue for the... 

Sars concerned about falling tax compliance

Court action to stop PRASA 'conspiracy'

By: News24Wire      12th December 2017 The Passenger Rail Agency of South Africa (PRASA) has missed a deadline to respond to demands by the UniteBehind coalition. Legal action will now be taken against the agency responsible for Metrorail, GroundUp reports. 

October manufacturing output up 2.2% y/y

By: Reuters     12th December 2017 South Africa's manufacturing output rose 2.2% year-on-year in October, beating market expectations, after falling by a revised 1.7% in September, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would rise by 0.75% year-on-year in October. 

October manufacturing output up 2.2% y/y

DTI to probe Steinhoff compliance with companies law

By: African News Agency      12th December 2017 South Africa’s trade and industry department said on Tuesday it would launch an investigation into the alleged governance failures and financial irregularities at retailer Steinhoff, to determine any non-compliance with the Companies Act and Regulations. “The Department of Trade and Industry and... 

Metrorail must provide alternative transport for Cape Town commuters – Sanco

By: African News Agency      12th December 2017 The South African National Civic Organisation (SANCO) on Tuesday called on rail service provider Metrorail to provide alternative transport for commuters left stranded by the suspension of its service on the key Central Line in Cape Town. The civic organisation said that the inconvenience and... 

Heartland-to-heartland linkages sought in China-driven industrial superproject

By: Schalk Burger     12th December 2017 The China-driven superproject, the Belt and Road Initiative (BRI), which is a conceptual redevelopment of the ancient global tradeways of the Silk Road, aims to link the heartlands of countries by land, sea and air routes, said Renmin University School of International Studies Professor Wang... 

Eskom study on the Integrated Resource Plan (IRP) (2017)

     12th December 2017 The Integrated Resource Plan (IRP) 2010-30 was promulgated in March 2011. It was indicated at the time that the IRP should be a "living plan" which would be revised by the Department of Energy (DoE) every two years. The IRP is the over-arching energy plan for the country of which the IRP forms an... 

Eskom study on the Integrated Resource Plan (IRP) (2017)

South African poultry group calls for probe of forced labour in Brazil

By: Reuters     12th December 2017 South Africa's poultry industry body has asked the government to investigate allegations of forced labour in the sector in Brazil, the world's largest poultry exporter. The South African Poultry Association (SAPA) said it had asked its government to seek "urgent comment" after a report said... 

Morocco announces auto industry deals worth $1.45bn

By: Reuters     12th December 2017 Morocco said on Monday it had signed deals for 26 auto industry projects worth a total of €1.23-billion ($1.45-billion) as it seeks to build its position as an international hub for the sector. The deals include six agreements with French company Renault to expand an "industry ecosystem" allowing... 

Mahlobo: Corruption is corruption

By: News24Wire      12th December 2017 The African National Congress's (ANC's) subcommittee on peace and stability said corruption was a "cancer" and it would be one of the issues discussed at the party's upcoming national elective conference. Subcommittee member and Minister of Energy David Mahlobo said on Monday that the party was... 

Mahlobo: Corruption is corruption
Minster of Energy David Mahlobo

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

DA consulting lawyers on legality of energy blueprint

By: African News Agency      11th December 2017 The Democratic Alliance said on Monday it was taking legal advice on the approval of government’s new Integrated Resource Plan (IRP), which envisions nuclear procurement. Democratic Alliance energy spokesperson, Gavin Davis, said the apparently rushed approval of the policy blueprint with no... 

Cyril Ramaphosa calls for mining sector action

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Blue Label concludes 3G acquisition after Competition Tribunal thumbs up

By: Natasha Odendaal     11th December 2017 JSE-listed Blue Label has secured Competition Tribunal approval for the acquisition of the remaining 52.63% of mobile device distributor 3G Mobile. The local telecommunications firm had, through its The Prepaid Company subsidiary, acquired 3G Mobile for R1.9-billion, with the initial acquisition... 

AMSA appoints new CEO

By: Natasha Odendaal     11th December 2017 ArcelorMittal South Africa (AMSA) has appointed former Aveng CEO Hendrik ‘Kobus’ Verster to succeed Wim de Klerk, who will step down on January 31, as CEO. Verster will join the company on January 2 as CEO designate to ensure a smooth handover and will assume the position of CEO and executive... 

Rosatom says planned Egypt nuclear plant to cost $21bn

By: Reuters     11th December 2017 Russian state nuclear company Rosatom said on Monday a power station it will build in Egypt will cost up to $21-billion and is expected to be finished by 2028/29. Russian President Vladimir Putin and his Egyptian counterpart Abdel Fattah al-Sisi will sign an agreement on the project on Monday,... 

Metal workers union continues strike action at Agni Steel in South Africa

By: African News Agency      11th December 2017 Liberated Metalworkers Union of South Africa (Limusa) said on Monday that it will proceed indefinitely with its strike at Agni Steel South Africa in Port Elizabeth due to protracted wage negotiations that started in 2016 with the company. This comes as the protected industrial action entered a... 

Fluor secures Vopak EPCM contract for Durban fuel storage terminal

By: Creamer Media Reporter      11th December 2017 Vopak Terminal Durban has awarded NYSE-listed Fluor Corporation an engineering, procurement and construction management contract to deliver the Vopak Growth 4 Project, in Durban. The project forms part of Vopak’s expansion programme to increase the capacity of fuel storage at its Durban terminal... 

AfDB grants loan support to two African renewable energy projects

By: Dylan Slater     11th December 2017 The African Development Bank (AfDB) has approved $324-million in loan support to two renewable energy projects in Morocco and Côte d’Ivoire that are expected to significantly increase power supplies and boost economic growth in those countries.  

AfDB grants loan support to two African renewable energy projects
The Noor concentrated solar power project’s Phase 1

Fairfax exits PPC partial acquisition bid

By: Natasha Odendaal     11th December 2017 Fairfax Africa Investments has withdrawn its intention to acquire R2-billion worth of shares in cement producer PPC. In an update to shareholders on Monday, JSE-listed PPC said it had received formal notification on Friday that Fairfax would no longer pursue the partial offer. 

Gibela factory on track for March completion, says new CEO

By: Irma Venter     11th December 2017 Construction of the Gibela plant, in Dunnottar on the far East Rand, is on track for completion in March next year, says Gibela Rail Transport Consortium CEO Thierry Darthout. Darthout, former Gibela operations VP, took over the reins from Marc Granger on August 1. The 53-year-old is a mechanical... 

Gibela factory on track for March completion, says new CEO
Thierry Darthout

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