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Food security threat looming – Land Bank 

By: Sapa     11th July 2012 A population boom across the world will undermine food security and urgent counter-measures are needed, the Land Bank said on Wednesday. CEO Phakamani Hadebe said a new approach was needed to sustain food security as the world moved towards the 22nd century.  

Company Announcement: Perfect storm for African Integration as Europe slows down

9th July 2012 Investors, businesses and governments should not let the volatility of the global economy cause them to shy away from investing in infrastructure projects on the African continent 

‘Unsafe’ Buffalo bridge undergoing R21m revamp

6th July 2012 State-owned enterprise the Transnet National Ports Authority (TNPA) has, in a joint venture with the Buffalo City Metropolitan Municipality (BCM), invested more than R21-million to repair and maintain the Buffalo Bridge that links East London to the western bank of the port. 

Construction completed on 5 Mℓ/d water treatment plant

29th June 2012 The construction of the upgraded 5Ml/d Maphephetwa water treatment plant (WTP) in KwaZulu-Natal has been completed.  

SADC leaders to consider regional infrastructure plan in August

By: Terence Creamer     29th June 2012 A Southern African Development Community (SADC) Regional Infrastructure Master Plan (RIMP), which could involve cross-border projects with a combined investment value of up to $500-billion, has been finalised and will be presented to the subregion’s heads of State for offical sanction at an... 

Despite economic weakness, current commodity slump ‘disproportionate’

By: Terence Creamer     27th June 2012 Recent sharp falls in commodity prices are “disproportionately” large when compared with prevailing weaknesses in the global economy and a number of prices are, thus, likely to recover during the second half of 2012, Absa Capital economist Jeff Gable argues. Having tracked the growth performance... 

ANC mining policy should focus on 'capturing rents' not nationalisation  

By: Terence Creamer     25th June 2012 Strengthening the fiscal linkages to South Africa's mining industry through a new resource rents tax (RRT), which would effectively target super profits earned by domestic miners, was preferable to ‘blanket nationalisation’, which could not be pursued in the absence of compensation, a co-author... 

SA's IMF money not a gift – Presidency 

By: Sapa     20th June 2012 South Africa's $2-billion (about R16.4-billion) commitment to an International Monetary Fund (IMF) "firewall" was not a gift but a sound financial investment, the Presidency said on Wednesday. "If the IMF uses the funds, the money is lent to the IMF and not a gift... [and] for all of this time... 

Key SA bond yield hits record low, rand gains

By: Reuters     20th June 2012 Yields on South African government bonds dropped to multi-month lows on Tuesday, extending a three-week rally as investors returned to riskier emerging market assets and helped push the rand though a firm resistance level against the dollar. The three-year bond yield dropped to a record 6.05... 

$500bn infrastructrue plan to be presented to SADC leaders in August

By: Terence Creamer     19th June 2012 A Southern African Development Community (SADC) Regional Infrastructure Master Plan (RIMP), which could involve cross-border projects with a combined investment value of up to $500-billion, has been finalised and will be presented to the subregion’s heads of State for offical sanction at an... 

World Bank’s new SA country strategy to emerge in 2013

By: Terence Creamer     15th June 2012 The World Bank has started consultations with the South African government on a new Country Partnership Strategy (CPS) for when the current version, which has been operational since 2007, expires at the end of 2012. Newly appointed VP for the Africa region Makhtar Diop visited South Africa this... 

Sub-Saharan Africa economic growth remains robust – World Bank 

By: Natasha Odendaal     13th June 2012 Despite weak growth and increasing uncertainty in high-income countries, medium-term growth prospects for sub-Saharan Africa were looking promising. The region was expected to record 5% growth during 2012, up from 4.7% in 2011, and 5.3% was predicted in 2013, as global demand firms and domestic... 

BC Iron eyes opportunities in Australia, Brazil and Africa

By: Esmarie Swanepoel     7th June 2012 Iron-ore miner BC Iron was on the lookout for development opportunities on both a project and company level, MD Mike Young said this week. BC Iron would have between A$70-million and A$80-million in cash by the end of this financial year, and Young said that the company was investigating its... 

Regional power projects likely to feature in World Bank's new SA plan 

By: Terence Creamer     5th June 2012 The World Bank has started consultations with the South African government on a new Country Partnership Strategy (CPS) for when the current version, which has been operational since 2007, expires at the end of 2012. Newly appointed VP for the Africa region Makhar Diop visited South Africa this... 

Thompson Creek has enough cash to complete Mount Milligan – CEO

By: Henry Lazenby     1st June 2012 Denver-based molybdenum producer Thompson Creek Metals CEO Kevin Loughrey on Thursday reaffirmed that the group had enough cash in the bank to complete construction of its Mount Milligan copper/gold project, in British Columbia. The $1.5-billion Mount Milligan project is on schedule to be... 

Developing electric bus a waste of taxpayers’ money 

By: Terry Mackenzie-hoy     1st June 2012 In January 2011, I wrote about the development of an electrical car, the Joule, by the firm Optimal Energy.  

Infrastructure plan is only game in town to boost manufacturing

By: Terence Creamer     1st June 2012 South Africa’s multibillion–rand national infrastructure plan offered the only realistic short-term hope of reviving South Africa’s ailing manufacturing sector, which was unlikely to receive any relief from the troubled global economy for at least the coming three quarters. But Pan-African... 

US firm aims to build wind, solar plants in Tanzania

By: John Muchira     1st June 2012 US renewable-energy company Sunbelt International has signed a letter of intent to undertake a multimillion-dollar wind and solar energy investment in Tanzania. 

Medupi power station project, South Africa

By: Sheila Barradas     1st June 2012 An ‘inspection panel’ investigation into the implementation of the World Bank’s $3.75-billion Eskom Investment Support Project has found instances of noncompliance and inconsistency with bank policies. 

APLNG secures $8.5bn in finance

By: Esmarie Swanepoel     24th May 2012 ASX-listed Origin Energy and its joint venture (JV) partners ConocoPhillips and Sinopec have secured an $8.5-billion project financing facility for the Australia Pacific liquefied natural gas (APLNG) project. The project finance facility was signed by the Export-Import Bank of the US, the... 

McEwen cautions investors about Argentina decrees

By: Henry Lazenby     18th May 2012 TSX-listed McEwen Mining CEO Rob McEwen on Thursday cautioned shareholders that recent energy-industry expropriation and Argentina government policy decrees augured negatively for its San José silver/gold mine and other development projects. At its general meeting, McEwen said there is... 

SA infrastructure plan is only industry-reviving game in town  

By: Terence Creamer     18th May 2012 South Africa’s multibillion–rand national infrastructure plan offered the only realistic short-term hope of reviving South Africa’s ailing manufacturing sector, which was unlikely to receive any relief from the troubled global economy for at least the coming three quarters. But Pan-Africa... 

SilverCrest Mines lifts earnings, production increases

By: Henry Lazenby     16th May 2012 TSX-V-listed SilverCrest Mines on Tuesday reported a strong first-quarter performance, posting earnings of $6.34-million, or 7c a share, compared with a loss of $2.82-million in the same period last year. The company achieved revenue of $12.2-million from its flagship Santa Elena operation, in... 

Talison Lithium lifts quarterly income by 112%

By: Henry Lazenby     14th May 2012 TSX-listed Talison Lithium has reported a 112% year-on-year increase in third-quarter net earnings to A$8.2-million, or 7.6c a share, as the result of record revenue and increased prices. The Australia-based miner sold 111 896 t of lithium concentrate for a total of A$37-million, an increase of... 

Gold to lose more glitter in 2012, says Natixis 

By: Matthew Hill     11th May 2012 With many metals having erased their 2012 gains this month, French bank Natixis failed to paint a much rosier outlook for the rest of the year in its latest quarterly review, calling for gold to average $1 540/oz. Copper, often used to gauge the world’s economic outlook, will average $8 800/t... 

Big opportunity for banks to use Web to communicate, survey shows

11th May 2012 Banks in South Africa have a significant opportunity to connect more closely with Internet banking users to facilitate communications and use of the full scope Internet banking and online transacting, says market research company Columinate co-founder and senior research specialist Henk Pretorius. 

Banking solution aimed at agriculture sector

By: Samantha Herbst     11th May 2012 Absa Corporate Bank, a division of UK banking giant Barclays Group, has successfully launched a closed-loop banking solution to assist the agriculture industry in South Africa to successfully manage its spending patterns. 

Caledonia lifts q-on-q profit by 420%

By: Henry Lazenby     10th May 2012 TSX-listed Caledonia Mining on Thursday said its quarter-on-quarter net profit skyrocketed by nearly 420% to $7.11-million, while year-on-year profit rose by 275%. Basic earnings a share were 1.4c, compared with 0.27c in the preceding quarter and 0.38c in the comparable quarter in 2011.  

Infrastructure set to benefit from new Pan-African bond programme

By: Terence Creamer     9th May 2012 The International Finance Corporation (IFC) and Standard Chartered have unveiled a new African bond programme, which should improve access to local-currency financing while lowering the risk for domestic and foreign investors, as well as African borrowers. It is anticipated that the primary... 

Company Announcement: Volkswagen Group South Africa keeps its top position in the passenger car market

3rd May 2012 Volkswagen Group South Africa keeps its top position in the passenger car market  

Yamana Gold boosts profit by 15%

By: Henry Lazenby     2nd May 2012 TSX- and LSE-listed Yamana Gold on Tuesday reported first-quarter earnings rose by 15% to $170-milion, or $0.23 a share, on the back of increased production and higher prices achieved for its products. CEO Peter Marrone said production climbed by 4% to 278 832 gold-equivalent ounces, resulting... 

Canada Lithium to raise another C$30m, shares slide 

By: Matthew Hill     2nd May 2012 Shares in Canada Lithium lost over 10% of their value on Tuesday, after the company said it would sell C$30-million in stock to complete the mine it is building near Val d'Or in Québec. The TSX-listed company filed a preliminary short-form prospectus for the offering, set to close May 21, which... 

Bank of Canada head sees long-term commodity boom

By: Reuters     2nd May 2012 Commodity prices are likely to remain high for longer than in previous booms, Bank of Canada Governor Mark Carney said on Tuesday, while repeating the central bank's recent warning that interest rates may need to rise. Carney, asked to name potential mistakes that investors could make, told a... 

Zimbabwe's business law seen enriching black elite 

By: Reuters     20th April 2012 The Zimbabwean government's drive to force foreign businesses to give 51% of their shareholding to locals will benefit the few black elite and must be reviewed, Finance Minister Tendai Biti said on Thursday. The controversial so-called empowerment law is already being implemented in the mining... 

Africa's scarce infrastructure breeds 'self-reliant' companies

By: Reuters     20th April 2012 Companies betting on Africa's growing affluence are being forced to come up with clever ways of doing business to get around the continent's dilapidated roads, shaky power supply and inept ports. "If there isn't a well developed distribution network in place, many companies would take some of... 

Kenya Power receives $47m World Bank loan for distribution projects

By: John Muchira     20th April 2012 Kenya’s electricity distributor, Kenya Power, has received a $47-million loan from the World Bank to finance projects aimed at enhancing the distribution network in the East African nation. 

Bank unit buys municipality’s carbon credits

By: Dimakatso Motau     20th April 2012 Nedbank group investment banking division Nedbank Capital has bought verified carbon units (VCUs) issued under the Verified Carbon Standard by Nedbank Capital from the eThekwini Municipality, for the environmental benefit arising from renewable energy power generation using landfill gas.  

Avion sinks on $25m forward sales deal

By: Matthew Hill     31st March 2012 Avion Gold gave up nearly 10% of its market value on the TSX on Friday, after the company said it would sell forward some production at its Malian mine to bolster its balance sheet by $25-million. The company said it was not generally inclined towards hedging, but thought it prudent to have some... 

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