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Latest News

PRASA board to receive summons from Parliament

By: African News Agency      6th February 2018 MPs on Tuesday resolved to summons interim board members of South Africa's Passenger Rail Agency of South Africa to Parliament to account for the failing state of train services in the country. A subpoena will be issued after the board members failed to pitch for a meeting with Parliament's... 

Local Reits achieve double-digit growth for second consecutive year

By: Megan van Wyngaardt     6th February 2018 The FTSE/JSE South African Listed Property Index (Sapy) achieved total returns of 17.2% in 2017, building on its performance of returns of 10.2% in 2016, to deliver double-digit growth to investors for the second year in a row. Last year, listed property outshone cash, which delivered returns of... 

South African grape variant to be launched at German fruit trade fair

By: Dylan Slater     6th February 2018 South African science institution, the Agricultural Research Council (ARC), in partnership with the South African Table Grape Industry (Sati) and Culdevco, plans to launch a seedless red table grape at the South African National Pavilion during the Fruit Logistica Trade Fair, which takes place in... 

Turner & Townsend’s Kenyan business to merge with Nairobi-based firm

By: Dylan Slater     6th February 2018 Global project management consultancy Turner & Townsend’s Kenyan business will merge with Nairobi-based project management firm Mentor Management Limited (MML), after Turner & Townsend acquired a majority stake in MML from growth markets investor Actis.  

Sasol successfully commissions Phase 2 of wax expansion plant

By: Simone Liedtke     6th February 2018 Phase 2 of petrochemicals company Sasol’s Fischer-Tropsch Wax Expansion Plant (FTWEP) has successfully been commissioned at its Sasolburg operation. Valued at R13.6-billion, the plant has successfully started in its entirety and has been running stably for six months. 

Sasol successfully commissions Phase 2 of wax expansion plant

TPT boosts PE port handling volumes, rail use

By: Schalk Burger     6th February 2018 Transnet Port Terminals (TPT) achieved higher than forecast automotive and container handling volumes at the Port Elizabeth port in December, which it attributes to greater demand from local and international markets, along with automotive investments made in the region, TPT Eastern Cape GM Siya... 

Competition Commission exposes alleged collusion in R4.5bn Eskom tender

By: Megan van Wyngaardt     6th February 2018 A Competition Commission investigation has found evidence of alleged price fixing and collusive tendering, involving an Eskom tender worth R4.5-billion, on the part of Waco Africa, acting through its division SGB Cape, as well as Tedoc Industries, Mtsweni Corrosion Control and Superfecta Trading.... 

Stronger rand deals blow to Hulamin's FY17 earnings

By: Megan van Wyngaardt     6th February 2018 Despite achieving record sales volumes of 233 000 t for the 2017 financial year, local aluminium supplier Hulamin's operating profit is expected to dip below that of the prior year, owing to the significantly stronger rand. "The strengthening of the currency had a negative effect on profits,... 

Stronger rand deals blow to Hulamin's FY17 earnings

Buy Local Summit to focus on SMMEs

By: Anine Kilian     6th February 2018 The seventh annual Proudly South African (SA) Buy Local Summit and Expo, taking place next month, will have a strong focus on small-, medium-sized and microenterprises (SMMEs), CEO Eustace Mashimbye said on Tuesday. Promoting the summit at an event in Johannesburg, he stated that Proudly SA’s Buy... 

Plasser agrees to pay R8.4m penalty for collusion

By: Megan van Wyngaardt     6th February 2018 Railway construction and maintenance company Plasser South Africa has agreed to pay R8.4-million in a settlement penalty after admitting to partaking in collusion. The Competition Commission on Tuesday said it reached a settlement agreement with the company, which provides railway line track... 

Upbeat business climate in January sees Sacci BCI improve

By: Megan van Wyngaardt     6th February 2018 The South African Chamber of Commerce and Industry's (Sacci's) Business Confidence Index (BCI) recorded 99.7 in January, the highest level since it measured 102.3 in October 2015. The BCI improved by 3.3 index points in January, following on the improved level of 96.4 in December, while the index... 

Sona is postponed

     6th February 2018 The presiding officers of Parliament on Tuesday announced the postponement of the State of the Nation Address (Sona) which was to have taken place on Thursday evening. The announcement by Speaker Baleka Mbete comes as the ruling African National Congress (ANC) on Tuesday confirmed that its... 

Sona is postponed
Speaker Baleka Mbete

Gordhan lashes out at Denel as it begs for R3bn lifeline

By: African News Agency      6th February 2018 State arms manufacturer Denel on Tuesday pleaded for an equity injection as it briefed MPs on its results for the past year, but former finance minister Pravin Gordhan flatly countered that the company's dire financials were linked to its dealings with the Gupta family believed to have corrupted... 

'Quarteritis’ damaging gold mining – Bristow

By: Martin Creamer     6th February 2018 ‘Quarteritis’ – short-term thinking in a long-term business – is terribly damaging, Randgold Resources CEO Dr Mark Bristow said on Tuesday. Speaking on day-two of the Mining Indaba, Bristow advocated an holistic approach to the mining of gold orebodies and bringing to an end the practice of high... 

'Quarteritis’ damaging gold mining – Bristow
Photo by Martin Creamer
Randgold Resources CEO Dr Mark Bristow

No special Cabinet meeting called by Zuma – Presidency

By: News24Wire      6th February 2018 The Presidency has denied reports that a special Cabinet meeting was called by President Jacob Zuma in Parliament on Tuesday. Speculation was rife that Zuma had called a meeting of his Cabinet, just two days before possibly his last State of the Nation Address. 

Sona delay is being considered – speaker

By: Reuters     6th February 2018 A request from South African opposition parties to postpone the president's State of the Nation Address "is receiving consideration", the parliament's speaker Baleka Mbete said in a letter to the country's main opposition party seen by Reuters. Opposition parties want the state of the nation... 

Sona delay is being considered – speaker
Jacob Zuma & Baleka Mbete

Criminal charges laid against Molefe over R30m pension payout

By: African News Agency      6th February 2018 Trade union Solidarity on Tuesday laid criminal charges against embattled former Eskom chief executive Brian Molefe and former Eskom board chairperson Ben Ngubane over the R30-million pension awarded to Molefe when he left the struggling state-owned power utility. “The charges focus specifically... 

Coal opponents prepare for yet another court battle over Thabametsi power project

By: Terence Creamer     6th February 2018 Civil society organisations opposing the development of new coal-fired power generation capacity in South Africa say they will again approach the courts to challenge the latest environmental authorisation granted for the 557 MW Thabametsi coal-fired power station project, proposed for development... 

Coal opponents prepare for yet another court battle over Thabametsi power project

Fruit farmers opening sluices for Cape Town

By: News24Wire      6th February 2018 The fruit growers of the Groenland Water Users Association (GWUA) in the Western Cape will begin the release of between seven-million to ten-million cubic metres of water on Tuesday to help Cape Town avoid Day Zero, GWUA chief executive Johan Groenewald said. "We were blessed [with rain], even... 

EU steel sector sees demand growth in 2018, import threat

By: Reuters     6th February 2018 European steel demand is set to rise in 2018 with continued strength in most steel-using sectors, European steel association Eurofer said on Tuesday, while warning of a threat of rising imports. Apparent steel consumption, which excludes the impact of inventory changes, is set to rise by 1.9% in... 

Zuma summons ministers to cabinet meeting

By: Reuters     6th February 2018 President Jacob Zuma summoned cabinet ministers to a meeting in Cape Town on Tuesday, eNCA television reported, as pressure builds on the embattled 75-year-old leader to quit. Zuma normally holds cabinet meetings on Wednesdays. It was not immediately clear why Zuma had summoned the meeting a day... 

Zuma summons ministers to cabinet meeting
President Jacob Zuma

GE, Arenko collaborate on building energy storage systems

By: Megan van Wyngaardt     6th February 2018 Digital industrial company GE and flexible energy storage systems operator Arenko Group have entered into a strategic alliance to build grid-scale energy storage systems in the UK. The companies will seek to leverage the advantages of combining GE's battery technology solutions, power electronics... 

GE, Arenko collaborate on building energy storage systems

Unmined gold offers exciting new opportunity – Froneman

By: Martin Creamer     6th February 2018 With more gold in the ground than has been mined in the last 100 years, the South African gold mining industry has a great opportunity to modernise, introduce a social and economic compact, loudly condemn the errant behaviour of the past and eliminate the trust deficit, Chamber of  Mines VP and... 

Unmined gold offers exciting new opportunity – Froneman
Photo by Martin Creamer
Sibanye-Stillwater CEO Neal Froneman

Acceptance of realities prerequisite for gold mining success – DRDGold

By: Martin Creamer     5th February 2018 Acceptance of tough current realities was a prerequisite for gold mining success in South Africa currently, DRDGold CEO Niël Pretorius said on Monday. Speaking on day one of the Mining Indaba at a function to mark the 30th anniversary of the World Gold Council, Pretorius said that the simple... 

Acceptance of realities prerequisite for gold mining success – DRDGold
Photo by Duane Daws
DRDGold CEO Niël Pretorius

South Africa’s 112 000 gold mineworkers earn R30bn yearly

By: Martin Creamer     5th February 2018 Despite South Africa no longer being a significant producer of gold on a global scale, gold mining remained a key part of the South Africa economy by providing jobs for more than 112 000 people who earn R30-billion a year, Chamber of Mines of South Africa CEO Roger Baxter said on Monday. Speaking... 

South Africa’s 112 000 gold mineworkers earn R30bn yearly
Chamber of Mines CEO Roger Baxter

PIC advances R5bn bridging loan to fund Eskom through February

By: Terence Creamer     5th February 2018 The Public Investment Corporation (PIC) announced on Monday that it is advancing R5-billion to cash-strapped power utility Eskom in the form of bridging finance to fund the company’s operations during February. The one-month loan, which has been advanced on behalf of the Government Employees... 

PIC advances R5bn bridging loan to fund Eskom through February

UK car sales fell 6% in January as diesel demand slumps

By: Reuters     5th February 2018 British new car registrations fell 6.3% in January, in part due to customers being put off from buying diesel models which politicians have targeted over air quality concerns, an industry body said. Total new sales stood at 163,615 units with demand for diesel vehicles declining by an annual... 

Steel workers approve Thyssenkrupp-Tata Steel labour deal – source

By: Reuters     5th February 2018 Steel workers at Thyssenkrupp have voted in favour of a labour agreement that will safeguard jobs and plants in a planned joint venture with Tata Steel, a person familiar with the matter told Reuters on Monday. About 20,500 members of German union IG Metall had been asked to vote on the... 

Cape Town’s Day Zero could be moved out to May

By: Natasha Odendaal     5th February 2018 A drop in agricultural water use has pushed out Cape Town’s dreaded Day Zero to mid-May; however, with no significant decline in urban water use, the city has moved forward with its level 6B water restrictions and tariffs to limit water use to 50 ℓ/d per person. The City of Cape on Monday moved... 

Quantum Foods performing well, despite avian flu outbreak

By: Anine Kilian     5th February 2018 JSE-listed Quantum Foods’ South African-based feeds business performed satisfactorily in the four months to January 31, with stable rand-per-tonne margins and profitability compared with the previous year. In a trading update on Monday, the company reported that the favourable feed raw material... 

Sea Harvest to make big arrival with maiden full year results

By: Megan van Wyngaardt     5th February 2018 Seafood processing company Sea Harvest on Monday said it expects to report basic earnings per share (EPS) of between 110c and 124c for the year ended December 31, paired with headline earnings per share (HEPS) of between 99c and 113c apiece. This will be the company's maiden full-year results... 

AfDB boosts ALBC Fund books with R140m loan

By: Megan van Wyngaardt     5th February 2018 To further enhance the African Local Currency Bond Fund (ALCB Fund) portfolio and promote the development of domestic capital markets across the continent, the African Development Bank (AfDB) has approved a loan of R140-million. The senior loan, with a seven-year tenor including a two-year grace... 

Mbazima urges immediate dialogue on rail, port expansion

By: Martin Creamer     5th February 2018 South Africa’s ability to revitalise crucial infrastructure, especially rail and port networks, is among the key actions needed to bring investment back into the South African mining industry, Anglo American South Africa deputy chairperson Norman Mbazima said on Monday. Speaking on first day of... 

Mbazima urges immediate dialogue on rail, port expansion
Photo by Duane Daws
Anglo American South Africa deputy chairperson Norman Mbazima

Capitec defends its loan book as Viceroy takes aim at SARB

By: News24Wire      5th February 2018 Capitec defended the robustness of its loan book on Monday, while US-based short seller Viceroy Research criticised the South African Reserve Bank (SARB) for previously vouching for the bank. Viceroy in late January published a report labelling Capitec a “loan shark” with bad debt that should be... 

 Capitec defends its loan book as Viceroy takes aim at SARB

Total sells 25% stake in South African offshore prospect to Qatar Petroleum

By: Creamer Media Reporter      5th February 2018 International energy group Total announced on Monday that it would sell, subject to regulatory approval, a 25% interest in Exploration Block 11B/12B, offshore South Africa, to Qatar Petroleum. The block is located in the Outeniqua basin, around 175 km off the southern coast of South Africa. It... 

Total sells 25% stake in South African offshore prospect to Qatar Petroleum

Standard Bank PMI remains below 50-point mark

By: Megan van Wyngaardt     5th February 2018 Business conditions in South Africa continue to deteriorate, with activity in the private sector decreasing further amid lower client demand, Standard Bank and IHS Markit's latest Purchasing Managers Index (PMI) revealed on Monday. The index was recorded at 49 points in January, only marginally... 

Standard Bank PMI remains below 50-point mark

Beaufort West municipality to be handed fresh water resource – Zwane

By: African News Agency      5th February 2018 Mineral Resources Minister Mosebenzi Zwane announced on Monday that his department would be handing over the newly-discovered fresh water resource in Beaufort West to the municipality. Last year, the Council for Geoscience (CGS), a statutory science council under the Department of Mineral... 

Mining essential to human progress – Rio Tinto

By: Martin Creamer     5th February 2018 The images of large yellow mine trucks flashed across the big screen at this year’s Mining Indaba looked pretty ordinary. But that misperception was quickly cut short when Rio Tinto CE Energy and Minerals Bold Baatar told the full-house audience: "What you're watching are robots on wheels.... 

Mining essential to human progress – Rio Tinto
Rio Tinto CE Energy and Minerals Bold Baatar

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