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Latest News

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Storm forces TNPA to suspend vessel movements at Durban port

By: Creamer Media Reporter      10th October 2017 Transnet National Ports Authority (TNPA) has suspended all vessel movements in the Port of Durban owing to a storm lashing parts of KwaZulu-Natal. “Transnet’s marine services team and tugboats are assisting with several emergencies. These include the grounding of three vessels in the Port of... 

Kenya Power sees slower grid expansion as electricity access reaches saturation

By: Reuters     10th October 2017 Kenya Power expects the expansion of its grid to slow down as the number of people with access to electricity reaches saturation, its chief executive said on Tuesday, adding that its capital expenditure for this year would rise slightly. Ken Tarus, who is also its managing director, said the... 

Global steel recovery at risk from capacity ramp-ups outside China

By: Reuters     10th October 2017 The global steel sector's recovery from a glut-fuelled slump, driven by Chinese capacity cuts, is being put at risk by surplus capacity being built in the Middle East and Asia, sources and experts say. Figures from China show it has cut nearly 100-million tonnes of legal steel capacity and... 

Energy Minister Kubayi denies her secondment of Zulu to fuel fund was illegal

By: African News Agency      10th October 2017 Energy Minister Mmamoloko Kubayi on Tuesday told MPs she had no doubt about the legality of her secondment of former director general Thabane Zulu to the Strategic Fuel Fund as its acting chief executive officer, but stopped short of assuring them it had been approved by the board of the entity.... 

Toyota halts production, reports ‘unprecedented flooding' at Durban plant

By: Irma Venter     10th October 2017 "Unprecedented flooding" arising from a massive storm which lashed the KwaZulu-Natal coast on Tuesday has closed Toyota Motors South Africa’s (TSAM’s) manufacturing plant in Prospecton, south of Durban.  The plant is located near the old Durban airport, an area heavily affected by Tuesday's storm. 

 Toyota halts production, reports ‘unprecedented flooding' at Durban plant
The Toyota plant in Durban

Gamsberg zinc prestrip close to halfway mark – Vedanta

By: Martin Creamer     10th October 2017 The prestripping of waste rock at the Gamsberg zinc mine project in the Northern Cape is close to the halfway mark, Vedanta Resources reported on Tuesday, when its interim CEO Kuldip Kaura described as “strong” the quarterly production performances of the London-listed, India-rooted mining... 

Gamsberg zinc prestrip close to halfway mark – Vedanta
Photo by Duane Daws
Activity at the Gamsberg zinc mine project.

IMF cuts South Africa growth forecasts as politics takes it toll

By: Reuters     10th October 2017 The International Monetary Fund cut its South African economic growth forecast for this year on Tuesday, saying rising political uncertainty has dented consumer and business confidence. The IMF said it expected South Africa's economy to grow by 0.7% this year, down from an earlier projection of... 

IMF cuts South Africa growth forecasts as politics takes it toll

Public comments on gas exploration to close soon

By: African News Agency      10th October 2017 The South African public has at least eight days left to comment on the environmental authorization that the department of mineral resources (DMR) recently granted to Rhino Oil and Gas Exploration South Africa (Rhino) for natural gas exploration across four provinces. The area affected by these... 

City of Cape Town wants to get Metrorail back on track

By: News24Wire      10th October 2017 The City of Cape Town says it wants to take control over the beleaguered Metrorail in order to bring it back on track. Councillor Brett Herron said on Tuesday that the City was seeking permission from the Department of Transport (DoT) to fast-track the devolution of control over the rail network,... 

August manufacturing output up 1.5% y/y

By: Reuters     10th October 2017 South Africa's manufacturing output rose by a surprise 1.5% year-on-year in August after contracting by 1.1% in July, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would contract by 0.05% year-on-year in August. 

August manufacturing output up 1.5% y/y

Urgent need to explore alternative water sources in Western Cape to avoid day zero

By: Schalk Burger     10th October 2017 Department of Water and Sanitation Western Cape regional head Rashid Khan on Tuesday highlighted the urgent need to explore the use of alternative water sources to decrease reliance on surface water systems (rainfall) in the province. Recycling the partially treated final effluent through... 

Transport megaprojects stand on four legs – Gautrain CEO

By: Keith Campbell     10th October 2017 The successful implementation of transport infrastructure megaprojects rests on four equally important “pillars”. So affirmed Gautrain Management Agency CEO Jack van der Merwe to the recent sixth Council for Scientific and Industrial Research Conference, in Pretoria. These pillars are: political... 

Transport megaprojects stand on four legs – Gautrain CEO
Photo by Duane Daws
Gautrain CEO Jack van der Merwe

DTI calls for resolution on outstanding Doha issues

By: Schalk Burger     10th October 2017 Trade and Industry Minister Dr Rob Davies on Tuesday called for outcomes to be developed for the outstanding issues of the Doha Development Agenda (DDA). Davies was in Morocco attending the World Trade Organisation (WTO) Informal Ministerial Gathering, which was attended by Ministers from the 164... 

BCX to sell Netcampus subsidiary

     10th October 2017 End-to-end digital solutions provider BCX will sell its information and communications technology (ICT) training solutions subsidiary Netcampus. Netcampus managing executive Tebogo Makgatho will buy a 70% interest and Telkom enterprise development programme Telkom FutureMakers will acquire the... 

McKinsey says will pay back fees if South African court finds Eskom deal illegal 

By: Reuters     10th October 2017 McKinsey will repay fees it earned for six months' work last year at South African State utility Eskom if a high court finds the deal was unlawful, the global consultancy said on Tuesday. Eskom had given McKinsey and its local partner Trillian until Tuesday to repay R1.6-billion ($117-million) in... 

McKinsey says will pay back fees if South African court finds Eskom deal illegal

Mercedes-Benz Vans, Matternet and Siroop start pilot project for drone deliveries

By: Irma Venter     10th October 2017 Mercedes-Benz Vans, US drone systems developer Matternet and Swiss online marketplace Siroop have started a pilot project in Zurich, Switzerland, to test a van-and-drone-based system for on-demand delivery of e-commerce goods. The pilot project is the first time that extensive beyond-line-of... 

Mercedes-Benz Vans, Matternet and Siroop start pilot project for drone deliveries

Tharisa reports best production year

By: Martin Creamer     10th October 2017 Platinum group metals (PGM) and chrome co-producer Tharisa on Tuesday reported a record fourth quarter, which nudged the company to its best yearly production performance to date in the 12 months to September 30. The JSE-listed company, headed by CEO Phoevos Pouroulis, said in a release to... 

Tharisa reports best production year
Tharisa CEO Phoevos Pouroulis

Taps slow down to trickle as water rationing starts in Cape Town

By: News24Wire      10th October 2017 The City of Cape Town has rolled out Phase One of its Critical Water Shortages Disaster Plan and pre-selected suburbs can expect dry taps during peak hours. Water rationing through extreme pressure reduction is underway, the City said on Monday. 

Brazil revives African ties, eyes expanding market

By: Reuters     10th October 2017 Agricultural powerhouse Brazil aims to revive ties with Africa after a lull and sees a vast export market for food and manufactured goods in a continent whose population is surging, its foreign minister said. Brazil's presence in Africa surged during the government of former President Luiz Inacio... 

Johannesburg ranked most visited city in Africa

By: African News Agency      10th October 2017 South Africa’s most-populated city, Johannesburg, has emerged as the most popular destination city in Africa in 2016 followed by Cape Town, according to the annual Mastercard Global Destination Cities Index released on Tuesday. The Mastercard Global Destination Cities Index showed that... 

Johannesburg ranked most visited city in Africa

Strike looms at Road Accident Fund, Numsa granted certificate

By: African News Agency      10th October 2017 A strike looms at the cash-strapped Road Accident Fund (RAF), where workers have lodged several complaints including malfunctioning air conditioning units, poor sanitation and assets such as computers being attached to pay creditors. The National Union of Metalworkers of South Africa (Numsa) on... 

Wolseley residents complain of no refuse collection for 5 years

By: News24Wire      10th October 2017 Residents who moved to Zakhele in Wolseley five years ago, say the municipality hasn't provided any basic services despite them paying for it. After GroundUp sent questions to Witzenberg Municipality about the absence of refuse removal for all these years, the municipality sent out a small truck... 

Hopes for Liberia’s first diamond mine rise on general election 

By: Martin Creamer     9th October 2017 This year's discovery of two new additional diamond-bearing pipes that are satellites to an earlier-discovered main diamond-bearing kimberlite pipe have boosted hopes for the establishment of the first diamond mine in Liberia, where artisanal activity has been the mainstay of diamond recovery in... 

Hopes for Liberia’s first diamond mine rise on general election
Florida International University distinguished research professor Stephen E Haggerty outlines Liberia’s diamond prospects to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva

Transnet locomotive corruption probe extended as Parliament gears up for inquiry

By: Terence Creamer     9th October 2017 Democratic Alliance (DA) Shadow Minister of Trade and Industry Dean Macpherson is preparing a list of witnesses to appear before a Parliamentary Portfolio Committee for Trade and Industry inquiry into the failure of China South Rail (CSR) to meet local-content obligations as part of its supply of... 

Transnet locomotive corruption probe extended as Parliament gears up for inquiry

SACPCMP to host fifth Project and Construction Management Professions conference

By: Anine Kilian     9th October 2017 The South African Council for the Project and Construction Management Professions (SACPCMP) will host its Project and Construction Management Professions conference on October 18 and 19 at the Birchwood hotel in Boksburg. Following four successful conferences, this year’s event is a continuation... 

China steel rises as market eyes winter cuts; iron-ore, coal slide

By: Reuters     9th October 2017 Shanghai steel rebar futures jumped nearly 3% on Monday as Chinese markets reopened after a week-long holiday, with investors anticipating production cuts in the world’s top steel producer as the country fights smog. Prices of steelmaking raw materials iron-ore and coking coal fell, reflecting... 

Airbag, seat belt manufacturer pays R150m penalty on collusion charge

By: Irma Venter     9th October 2017 One of the world’s largest manufacturers of airbags, seatbelts and steering wheels has agreed to pay an administrative penalty of almost R150-million following its admission of having contravened the Competition Act. Autoliv has concluded a settlement agreement with the Competition Commission for... 

 Airbag, seat belt manufacturer pays R150m penalty on collusion charge

Sonangol aims to slash oil production costs with board revamp

By: Reuters     9th October 2017 Angola's State oil company Sonangol is aiming to slash breakeven costs on new oil production to as low as $20/bl $30/bl and make its contracts more attractive to investors and oil and gas companies, the company's chief Isabel dos Santos told Reuters. On the sidelines of the FT Africa Summit in... 

High level talks around Western Cape water crisis continue

By: Anine Kilian     9th October 2017 The Western Cape provincial government is again calling on all stakeholders and the public to do everything possible to reduce water use. The average level for dams across the province for the week starting October 9 is 36%, compared with 63% last year. 

Cornubia held up as vision for future, socially-minded developments

By: Anine Kilian     9th October 2017 Sugar producer Tongaat Hulett has won acclaim for transforming the landscape north of Durban by creating South Africa’s largest mixed-use integrated human settlement project. Tongaat Hulett Developments was named Visionary Client of the Year at the annual Consulting Engineers South Africa Aon... 

Bank of Baroda ordered to keep Gupta accounts open for now

By: News24Wire      9th October 2017 The high court ordered the Bank of Baroda on Monday to keep the accounts of Gupta-linked companies open, pending a final application which must be launched in 15 days. Pretoria high court judge Tati Makgoka granted the requested interdict against the bank, prohibiting the bank from deactivating... 

 Bank of Baroda ordered to keep Gupta accounts open for now

Eicher trucks to be assembled in SA in 2018

By: Irma Venter     9th October 2017 Eicher trucks will be assembled in South Africa in less than 12 months, says VE Commercial Vehicles South Africa (VECV SA) country head Surender Singh. “The project has a one-year lead time. We are currently in discussions to make it happen.” 

New 500 series to grow Hino SA’s market share significantly, says Trautmann

By: Irma Venter     9th October 2017 The new Hino 500 series should assist Hino South Africa (SA) to increase its share of the South African heavy commercial vehicle (HCV) market from 18% to around 22%, 23%, says Hino SA VP Ernie Trautmann. A new 6 X 4 model should also allow the new 500 series to “play in the extra-heavy commercial... 

New 500 series to grow Hino SA’s market share significantly, says Trautmann
The Hino 500 Wide Cab

Eqstra unveils cold trailer powered by truck engine

By: Irma Venter     9th October 2017 Eqstra Flexi Fleet, a division of Eqstra Fleet Management and Logistics, has partnered with New Way, Ice Cold Bodies, and Javgro Transport Refrigeration Solutions to design a cold trailer that will run “80% to 90% of the time” using power from the truck engine, says Javgro MD Kenan Gröss. In... 

Eqstra unveils cold trailer powered by truck engine

Tribunal approves settlement agreements with two chemicals companies

By: Anine Kilian     9th October 2017 The Competition Tribunal has approved settlement agreements between the Competition Commission and Investchem and Akulu Marchon/Chemical Initiatives (CI), with regard to price fixing and dividing of markets for key chemical input materials used to make detergents, cosmetics and toiletries. Akulu... 

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence 

By: African News Agency      9th October 2017 The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at State-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information... 

Sasol changes funding option to settle old BEE scheme debt

By: African News Agency      9th October 2017 Sasol on Monday announced that it would explore different funding options to settle the financing obligations of its failed broad-based black economic empowerment (BBBEE) ownership structure. Sasol said it will no longer pursue the preferred funding option of issuing up to 43-million ordinary... 

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