From Creamer Media in Johannesburg, this is the Real Economy Report. Australian oil and gas explorer Challenger Energy has applied for a right to explore for shale gas in South Africa’s Karoo. Mining Weekly editor Martin Creamer spoke to Challenger’s MD, Robert Willes.
Challenger Energy MD Robert Willes
Shannon de Ryhove:
Challenger is currently fixated on what it describes as a fast emerging, world-scale shale gas province, which is part of the South African government's economic growth, jobs and energy plans.
Shannon de Ryhove:
Other news making headlines this week: Eskom’s Brian Dames says funds availability, a long-term plan and clear policy will unlock the potential of Africa’s energy sector; BNC’s smelter upgrade is an important short-term focus for Mwana Africa; and South Africa’s steel and engineering industries are expected to yield better growth in 2014.
Huge sums, a long-term plan and clear policy frameworks are needed to ensure a thriving energy sector in Africa, says State-owned power utility Eskom’s outgoing CEO, Brian Dames. He said earlier this month that the continent had some of the fastest-growing economies and an abundance of primary energy sources but stressed that certainty in the policy environment and management capacity to exploit this endowment were needed.
Eskom outgoing CEO Brian Dames
The most important short-term focus for Aim-listed Mwana Africa’s Bindura Nickel Corporation, in Zimbabwe, was to get the operation’s smelter running once again, said CEO Kalaa Mpinga.
Mwana Africa CEO Kalaa Mpinga
South Africa’s steel and engineering sectors are likely to yield better growth in 2014 than last year when the sector only saw 2% growth and produced output estimated at R335-billion, with short-term signals indicating that benefits would be derived from the expected domestic spending on infrastructure.
Seifsa chief economist Henk Langenhoven
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.