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Latest News

Makhura concerned at delays in Grayston Bridge collapse inquiry

By: African News Agency      9th October 2017 Gauteng Premier David Makhura on Sunday expressed concern at delays in the inquiry into the collapse of the Grayston Bridge in Johannesburg two years ago. The bridge on the M1 highway and the Grayston interchange collapsed on October 14, killing two people and injuring 19. An inquiry into the... 

Durban Point developer sues water sports clubs for millions in damages

By: News24Wire      9th October 2017 The Durban Point Development Company (DPDC), which has gone to court to evict two water sports clubs accusing them of standing in the way of a R35-billion upgrade of the harbour-mouth area near Vetch's beach, has turned up the legal heat and issued a summons for "special" damages of more than... 

Mining company has eyes on West Coast National Park, say activists

By: News24Wire      9th October 2017 Kropz mining company has told SANParks executive committee members that it may ask to extend its phosphate mine into the West Coast National Park. The company, formerly Elandsfontein Exploration and Mining, has also approached the department of mineral resources (DMR) to "protect our rights" over... 

DA aims to ban unrecyclable plastic shopping bags in Western Cape

By: News24Wire      9th October 2017 The DA-led Western Cape government has been mandated to pass legislation to prohibit the sale and distribution of plastic shopping bags that aren’t 100% recyclable. This after a motion to this effect was passed at the DA’s Western Cape Congress on Saturday. 

Khayelitsha MyCiti commuters no longer left in dark

By: News24Wire      9th October 2017 Khayelitsha commuters using the City of Cape Town’s MyCiti busses will no longer be left in the dark. The city’s Transport and Urban Development Authority has commenced with the electrification of the permanent MyCiTi bus stops along the N2 Express routes in Khayelitsha, which according to the... 

Angola's State oil firm saves $1.7bn after spending cuts

By: Reuters     9th October 2017 Angola's State-owned oil company Sonangol said on Friday it had saved $1.7-billion thanks to spending cuts since 2014 in response to lower crude prices. Oil companies across the world have made steep cuts to their annual capital expenditure over the last three years to cope with a slump in oil... 

Northam backs Fuel Cell and Hydrogen Energy Association’s awareness campaign

By: Natasha Odendaal     9th October 2017 Platinum miner Northam is supporting a campaign by US-based Fuel Cell and Hydrogen Energy Association (FCHEA) to raise awareness of clean energy technology. Globally, governments are being urged to support investment in technology to provide cleaner and more efficient sources of power in the... 

Northam backs Fuel Cell and Hydrogen Energy Association’s awareness campaign
Photo by Duane Daws
Northam CEO Paul Dunne

Fedusa wants to review PIC investments 

By: Reuters     9th October 2017 South African labour federation Fedusa said on Saturday it would consult rival federations over withdrawing an investment mandate the workers' pension fund has with one of the continent's largest asset managers, the Public Investment Corporation (PIC). The PIC manages South African government... 

Tanzanian President splits energy and mining in ministry shake-up

By: Reuters     9th October 2017 Tanzanian President John Magufuli split the energy and minerals ministry in two and appointed heads for the new ministries on Saturday, five months after sacking the previous minister. Two presidential committees had recommended the move to tighten supervision of natural resources in Tanzania,... 

LafargeHolcim names new CFO

By: Reuters     9th October 2017 Cement maker LafargeHolcim on Monday said Geraldine Picaud from French optics maker Essilor International would replace CFO Ron Wirahadiraksa next year. Picaud will take over on Feb. 1, 2018. Wirahadiraksa, who joined LafargeHolcim from Philips in December 2015, is leaving to pursue opportunities... 

MTN appoints new Seagha region VP

By: Anine Kilian     6th October 2017 MTN has appointed Ebenezer Asante VP of its expanded Southern, East Africa and Ghana (Seagha) region. The new Seagha region will comprise the mobile operations in Ghana, Uganda, Rwanda, Zambia, South Sudan, Botswana and Swaziland, as well as the MTN Internet service providers in Kenya, Namibia... 

Hedderwick resigns as Long4Life COO

By: Anine Kilian     6th October 2017 Kevin Hedderwick has resigned as COO and executive director of JSE-listed Long4Life to pursue personal interests. Hedderwick, who was previously CEO of Famous Brands, joined Long4Life in May. 

SAA, unions ink wage agreement

By: Natasha Odendaal     6th October 2017 National airliner South African Airways (SAA) and trade unions Uasa and the National Union of Metalworkers South Africa have signed the revised wage agreement for workers at maintenance arm SAA Technical (SAAT). The South African Transport and Allied Workers Union (Satawu), which had also signed... 

Dangote withdraws PPC offer

By: Natasha Odendaal     6th October 2017 Nigerian cement maker Dangote Cement has withdrawn its nonbinding expression of interest for the acquisition of South African cement producer PPC. In September, Dangote proposed a combination of the two companies. 

Minister offers snapshot of renewables generation

By: Terence Creamer     6th October 2017 Energy Minister Mmamoloko Kubayi reports that, as at the end of July, the combined installed generation capacity of renewable-energy independent power producers (IPPs) stood at more than 3 200 MW across 58 sites. In a reply to a Parliamentary question posed by Economic Freedom Fighters MP... 

Minister offers snapshot of renewables generation

Glencore to acquire Chevron’s South Africa, Botswana assets for $973m

By: Anine Kilian     6th October 2017 JSE-listed Glencore has entered into an agreement with Off The Shelf Investments Fifty Six (OTS) to acquire a 75% interest in Chevron South Africa, as well as a 100% interest in Chevron Botswana, for an aggregate consideration of $973-million. The assets comprise the interests of the Chevron... 

Glencore to acquire Chevron’s South Africa, Botswana assets for $973m

Numsa ends strike at South32 aluminum smelter

By: Reuters     6th October 2017 The National Union of Metalworkers of South Africa (Numsa) said on Friday its members were ending a strike at mining and metals group South32's aluminium smelter in KwaZulu-Natal province after they accepted its latest wage offer. Numsa said in a statement that its more than 600 members who had... 

South Africa 'in limbo' regarding the rapidly arriving Fourth Industrial Revolution

By: Keith Campbell     6th October 2017 South Africa is underprepared for the Fourth Industrial Revolution, also known as Industry 4.0. However, it is not badly underprepared. This was reported by AT Kearney Associate Mark Saunders at the Sixth Council for Scientific and Industrial Research Conference, in Pretoria, on Friday. Industry... 

Eskom unveils Maritz as latest interim CEO, Dladla returns to Rotek 

By: Terence Creamer     6th October 2017 The board at embattled State-owned electricity utility Eskom announced on Friday that Sean Maritz had been appointed interim CEO, replacing Johnny Dladla, who himself only took up the position in June, when the previous acting CEO, Matshela Koko, was placed on leave. In a statement headlined,... 

Eskom unveils Maritz as latest interim CEO, Dladla returns to Rotek
Photo by Duane Daws
Sean Maritz

Gigaba wants concerns over irregularities at State pension fund probed

By: Reuters     6th October 2017 Finance Minister Malusi Gigaba on Friday asked government pension fund Public Investment Corporation (PIC) to investigate concerns of irregularities at the asset manager to ensure transparency at the institutions. The PIC has been in the spotlight in recent weeks after reports that the finance... 

Gigaba wants concerns over irregularities at State pension fund probed
Photo by Duane Daws
Finance Minister Malusi Gigaba

New stock exchange, A2X, makes its debut

By: Anine Kilian     6th October 2017 South Africa’s newest stock exchange A2X Markets (A2X) made its debut on Friday with three listings and four of the industry’s brokers on board.   A2X competes directly with the JSE and provides an alternative platform for companies to secondary list and trade their shares.   Financial services... 

Sarb denies instructing banks on KPGM

By: African News Agency      6th October 2017 The South African Reserve Bank (Sarb) has denied that it told the country’s big four banks that they cannot fire KPMG, stating categorically on Friday that it had not instructed banks on what steps they should or should not take with regards to their contracts with the embattled auditing firm.... 

Sarb denies instructing banks on KPGM

Steel producing nations to discuss overcapacity in Berlin in Nov

By: Reuters     6th October 2017 Germany is inviting ministers and senior officials from leading steel producing countries to a meeting in Berlin in late November to discuss overcapacity in the sector, the economy ministry said on Friday. "We want to discuss together how we can prevent overcapacity on the global market and... 

EU sets dumping duties on steel from four countries

By: Reuters     6th October 2017 The European Union (EU) has decided to set duties on hot-rolled steel from Brazil, Iran, Russia and Ukraine after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices. The EU will levy antidumping tariffs of between €17.60/t... 

Eskom asks McKinsey, Trillian to return R1.6bn

By: Reuters     6th October 2017 South Africa's Eskom has asked consultancy firms McKinsey and Trillian to pay it back R1.6-billion ($117-million), saying that an internal inquiry had found that the State power utility's decisions to make the payments were unlawful. "The interim findings from Eskom investigations into the... 

Eskom asks McKinsey, Trillian to return R1.6bn

Opinion: South Africa’s coal mining sector could shrink by 46% 

     6th October 2017 In this opinion article, independent economic risk consultant Rob Jeffrey argues that the mining industry and coal industry need to fight for their very future otherwise all is lost. Few people realise that future economic, political and social prosperity are at currently stake. Decisions made in... 

Opinion: South Africa’s coal mining sector could shrink by 46%
Rob Jeffrey

Transforming V&A's grain silos into Africa's largest contemporary art museum

By: Kim Cloete     6th October 2017 After four years of cutting, carving and engineering what at times seemed near impossible, the V&A Waterfront’s giant, historic grain silo has been transformed into the world’s largest museum dedicated to contemporary art from Africa. In an architectural and engineering feat, the nearly... 

Transforming V&A's grain silos into Africa's largest contemporary art museum

Dow Packaging homes in on sustainable solutions

By: Anine Kilian     5th October 2017 With continued rapid urbanisation in South Africa putting pressure on the food and beverage industry in terms of food safety, shelf life and adequate supply transportation, packaging manufacturer Dow is focusing on developing innovative and sustainable solutions to mitigate these types of... 

Dow Packaging homes in on sustainable solutions
Dow plastics division director Felip Vidiella

De Beers’ diamond exploration grinding to halt on government issues 

By: Martin Creamer     5th October 2017 The exploration programme of De Beers Consolidated Mines (DBCM) is grinding to a halt owing to the ongoing issues the iconic diamond mining company is experiencing with South Africa’s Department of Minerals Resources (DMR). With the hold-up of as many as 54 prospecting licence applications for as... 

De Beers’ diamond exploration grinding to halt on government issues
De Beers Consolidated Mines CEO Phillip Barton talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Sassda promotes the use of stainless steel water pipes

     5th October 2017 The Southern African Stainless Steel Development Association (Sassda) is, along with the Drakenstein municipality in Paarl, in the Western Cape, and South African stainless steel product manufacturers, evaluating the use of stainless steel pipes to reduce water leaks. Sassda states that as much... 

Shumba’s coal trading division generates first revenues

     5th October 2017 Coal mining and energy development company Shumba Energy’s coal trading division, Shumba Coal Trading (SCT), has generated the first revenues for the company. The Botswana Stock Exchange-listed company on Thursday said it had sold more than 1 000 t of coal to customers in the regional market, to... 

South Africa continues on path of deindustrialisation

By: Natasha Odendaal     5th October 2017 With some exceptions, South Africa’s industrial policy is not working, leaving the nation to continue down its current path of deindustrialisation, says Department of Trade and Industry (DTI) industrial development deputy director-general Garth Strachan. Addressing delegates at the sixth... 

South Africa continues on path of deindustrialisation
Department of Trade and Industry industrial development deputy director-general Garth Strachan

Auditor general explains why he 'didn't pull plug' on KPMG

By: News24Wire      5th October 2017 The office of the auditor general decided not to pull the plug completely on KPMG as one of its partners in public sector auditing, pending an independent investigation into the firm’s conduct. Kimi Makwetu, auditor general, told members of Parliament on Thursday that his office engaged with the... 

 Auditor general explains why he 'didn't pull plug' on KPMG
Auditor General Kimi Makwetu

Sandvik establishes R15-million local production facility 

     5th October 2017 Mining equipment and services provider Sandvik Mining and Rock Technology last month officially opened its new R15-million production unit in Boksburg. Ilan Solomons was there and filed this report. 

Sandvik establishes R15-million local production facility
Sandvik establishes R15-million local production facility

Economic impact of ANC race to be felt only in 2019, says Schussler

By: Irma Venter     5th October 2017 Economist Mike Schussler says South Africa’s economic growth rate will not see a “major improvement beyond 2%, 2.5% for the foreseeable future”. “I think growth next year, not even depending on who is the president, will be better than this year, but it is not going to shoot out the lights,” he... 

Economic impact of ANC race to be felt only in 2019, says Schussler

SA business ‘complicit’ in looting of State – Jay Naidoo

By: African News Agency      5th October 2017 Activist for social justice, Jay Naidoo, on Thursday urged the South African business community to find its moral compass and not be complicit in the looting of the State by greedy individuals. Naidoo, who was founding general secretary of the Congress of South African Trade Unions (Cosatu) and a... 

SA business ‘complicit’ in looting of State – Jay Naidoo
Photo by Duane Daws
Activist Jay Naidoo

South Africa's business confidence recovers in September

By: Reuters     5th October 2017 South Africa's business confidence index rose in September as merchandise import and export volumes increased, a survey showed on Thursday, after falling to its lowest in more than three decades in August. The South African Chamber of Commerce and Industry's (Sacci) monthly business confidence... 

UK car sales set for first annual decline since 2011 after September slump

By: Reuters     5th October 2017 British new car registrations on Thursday appeared on course for their first annual fall since 2011 after a 9.3% tumble in September, a month which normally accounts for around 15% of demand. Sales were hurt by business and political uncertainty as Britain prepares to leave the EU and confusion... 

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