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Study launched into economic impact of possible EV transition in South Africa

By: Terence Creamer     23rd February 2018 A macroeconomic study into the impact of a possible transition in the South African transport market from internal combustion engine (ICE) vehicles to electric vehicles (EVs) has been launched. Initially proposed by the Department of Trade and Industry (DTI), the study is backed by the South... 

The SENET board is pleased to announce that Darren Naylor has been appointed as Managing Director of SENET, effective 1 March 2018.

     23rd February 2018 Jim Hollywood Chairman Darren joined SENET in 2007 as a Project Manager. He was appointed to the Board in 2014, in the role of Business Development Director. Darren is a Professional Chartered Marketer and holds a Bachelor’s Degree in Marketing, as well as a Master’s Degree in Business... 

Kibaran eager to engage Tanzania’s new Minerals Commission

By: Natasha Odendaal     23rd February 2018 ASX-listed Kibaran Resources stands ready to present its Epanko graphite project to Tanzania’s yet-to-be-established Minerals Commission to start discussions over “silent” matters and the impact on the proposed Epanko debt financing arrangements. Kibaran said it had reviewed the mining... 

Tax increases likely to shrink market, says auto industry bodies

By: Irma Venter     23rd February 2018 The substantial increase in ad valorem vehicle excise duty rates announced in the National Budget this week – with the maximum duty for motor vehicles rising from 25% to 30% – together with the increases in value added tax (VAT), emissions taxes and the fuel levy, “will compromise vehicle... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in South Africa

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring for new opportunities worldwide and countries scrutinised for their investment attractiveness and moni- tored in terms of economic growth, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining industry... 

Stokvels changing the face of the township economy

By: Sydney Majoko     23rd February 2018 Stokvels, defined by Oxford Dictionary as "a savings or investment society to which members regularly contribute an agreed amount and from which they receive a lump sum payment", usually at the end of the year, are one of the most common features of the township economy. They have always had a... 

African projects require integrated delivery models

By: Nadine James     23rd February 2018 The integrated delivery model is the best means of realising complex, multidisciplinary projects in Africa timeously, says AECOM Civil infrastructure MD Darrin Green. This is primarily because the market in Africa is less mature and project developers frequently have to deal with challenges when... 

Avesoro set to acquire $10.3m in heavy mining equipment

By: Natasha Odendaal     22nd February 2018 TSX- and Aim-listed Avesoro Resources’ Bea Mountain Mining subsidiary has entered into equipment finance agreements to acquire $10.3-million in heavy mining and additional auxiliary equipment for the New Liberty gold mine, in Liberia. The equipment finance facility agreements with Mapa İnşaat ve... 

Sars vows to collect on R2.6-billion additional revenue target

By: African News Agency      22nd February 2018 Tom Moyane, the Commissioner for the South African Revenue Service (Sars), on Thursday committed the revenue authority to achieving an increased revenue target for the 2017/18 financial year. This comes after finance minister Malusi Gigaba on Wednesday increased the anticipated revenue that has... 

Froneman calls for collective action towards zero harm in fatality-plagued mining business 

By: Martin Creamer     22nd February 2018 A strong call to action was made by Sibanye-Stillwater CEO Neal Froneman on Thursday for a common purpose towards zero harm in South Africa's mining industry, where rising fatality numbers are causing great concern. Froneman said a point had been reached where management on its own could not make... 

Industry, business welcomes tough Budget, but warns govt to implement promised changes

By: Megan van Wyngaardt     22nd February 2018 Although Finance Minister Malusi Gigaba has faced sharp criticism following the tabling of the 2018 Budget on Wednesday, particularly from opposition party, the Democratic Alliance, and the Congress of South African Trade Unions, industry bodies and business organisations have welcomed the... 

Nuclear industry group cautions against 'rushed decisions' on energy

By: Rebecca Campbell     22nd February 2018 The Nuclear Industry Association of South Africa (Niasa) has urged the government and energy sector to have a broad perspective in their energy planning and include nuclear in a balanced energy mix. The government should not be distracted by the fact that the country currently had an oversupply... 

Innovative mining-specific staff recruitment, management app developed 

     22nd February 2018 Mining and engineering professionals recruiter TrueVine Consulting has developed an innovative online recruitment platform, called Digger to refine and improve the execution of recruitment in the mining industry.  

SAWEA welcomes govt’s commitment to renewables

By: Megan van Wyngaardt     22nd February 2018 The South African Wind Energy Association (SAWEA) on Thursday appealed to President Cyril Ramaphosa, as well as to the Finance, Energy and Public Enterprises Ministers to ensure the setting of a firm date for concluding power purchase agreements (PPAs) for duly procured renewable energy, by no... 

Russian group thinks nuclear power still has a future in South Africa

By: Rebecca Campbell     22nd February 2018 Russia’s State-owned nuclear corporation Rosatom still believes that nuclear energy has a place in the future development of South Africa. This follows comments made by Finance Minister Malusi Gigaba on Wednesday (Budget Day), which suggested that the country’s planned programme to build a fleet... 

South Africa retains dubious corruption rating

By: News24Wire      22nd February 2018 Corruption Watch has expressed concern over South Africa dropping down the rankings of the latest Corruption Perceptions Index (CPI) released by Transparency International. Corruption Watch's Phemelo Khaas said South Africa's score dropped from 45 in 2017 to 43 this year, and although it seems "a... 

Rainbow puts focus on Gakara ramp-up, exploration

By: Simone Liedtke     21st February 2018 London-listed Rainbow Rare Earths has set the ramp-up of production at its Gakara mine, in Burundi, and the completion of the first phase drilling programme, as its priorities for the next six months. The company on Wednesday described the six months ended December 31, as "a busy and highly... 

Reliable energy needed for a stable economy – Rosatom

By: Anine Kilian     21st February 2018 Reliable and affordable energy is key to stimulating any economy, says Rosatom sub-Saharan African regional VP Viktor Polikarpov. Speaking during a panel discussion at the African Energy Indaba, on Wednesday, he noted that the lack of electricity in various parts of the continent was a major... 

Treasury allocates R6bn for drought relief measures

By: Megan van Wyngaardt     21st February 2018 Citizens of towns in the Western Cape, particularly Cape Town, on Wednesday could give a sigh of relief as Finance Minister Malusi Gigaba outlined that a provisional allocation of R6-billion has been set aside in 2018/19 for drought relief measures and to augment public infrastructure investment.... 

National Treasury makes budget cuts to assure more frugal spending

By: Megan van Wyngaardt     21st February 2018 Departmental budgets have been reduced by R85.7-billion over the medium term, the National Treasury said on Wednesday, noting that cuts at the provincial level would affect conditional infrastructure grants.  The announcement of the expenditure cuts had been highlighted as a priority prior to the... 

VAT rate rise ‘not desirable’, but ‘unavoidable’ to rebuild public finance integrity

By: Terence Creamer     21st February 2018 Finance Minister Malusi Gigaba confirmed the much-anticipated increase in the value-added tax (VAT) rate from 14% to 15% in his maiden Budget speech to Parliament on Wednesday, describing the increase as “unavoidable if we are to maintain the integrity of our public finances”. The hike was... 

Land and asset sales on cards as government seeks revenue-neutral support for State firms

By: Terence Creamer     21st February 2018 Finance Minister Malusi Gigaba used his maiden Budget to reinforce President Cyril Ramaphosa’s recent announcement that stakes in cash-strapped State-owned companies (SoCs) could be sold to reduce their reliance on bail-outs and debt. Ramaphosa made the announcement in his response to the debate... 

Spatial transformation key to unlocking infrastructure, industrialisation – Gigaba

By: Megan van Wyngaardt     21st February 2018 South African township businesses needed to work “imaginatively” and think beyond car washes and spaza shops to foster productive, high-value economic activity in townships, Finance Minister Malusi Gigaba said on Wednesday. In his Budget speech, he noted that factories, workshops, tech hubs and... 

Treasury allocates R57bn to fund fee-free higher education

By: Megan van Wyngaardt     21st February 2018 Finance Minister Malusi Gigaba said R57-billion would be allocated over the coming three years to fund the fee-free higher education and training policy announced to by former President Jacob Zuma in December 2017 and reaffirmed by President Cyril Ramaphosa in February. Noting that this was the... 

Govt to fast-track finalisation of outstanding mining policy

By: Megan van Wyngaardt     21st February 2018 To take advantage of the cyclical upturn in the mining sector and improved investor sentiment to boost economic growth, government needs to finalise outstanding policy and administrative reforms. The proposed implementation of the revised Mining Charter, contested by industry and the Chamber of... 

Social grants set to increase faster than inflation as taxes rise

By: Megan van Wyngaardt     21st February 2018 The South African government has committed R259.4-billion towards social development in the 2018 Budget, with social grant payments set to increase faster than inflation to offset the effect of higher taxes on poor households. During the tabling of the Budget on Wednesday, Finance Minister Malusi... 

Civil society calls on Gigaba to deliver a pro-poor budget

By: Sane Dhlamini     21st February 2018 South African civil society organisations have called for a pro-poor policy agenda ahead of Finance Minister Malusi Gigaba’s maiden Budget Speech on Wednesday, which some analysts expect will also be his last. Gigaba’s position is not certain amid talks of an imminent Cabinet reshuffle, which... 

Ramaphosa's plan for SOEs

By: News24Wire      20th February 2018 President Cyril Ramaphosa has revealed more details of how he plans to fix State-owned enterprises (SOEs), and he will be considering proposals by Members of Parliament (MPs). He was addressing the National Assembly on Tuesday, in a reply to the debate on the State of the Nation Address (Sona). 

AfDB expresses strong support for new Eskom leadership

By: Terence Creamer     20th February 2018 The African Development Bank (AfDB), which has extended loan facilities worth a collective R20-billion to South Africa’s power utility Eskom, expressed confidence on Tuesday that the new leadership at the cash-strapped State-owned company would restore the group’s governance and creditworthiness.... 

Gordhan, Jonas said to be part of Ramaphosa's new Cabinet plan

By: News24Wire      20th February 2018 Former ministers banished to the political wilderness under Jacob Zuma’s presidency are set to make a comeback as President Cyril Ramaphosa prepares to revive the stagnant economy. The African National Congress’s (ANC's) top-six officials, including President Cyril Ramaphosa, will meet on Friday... 

Congo seeks relief talks with oil traders over $2bn debt

By: Reuters     20th February 2018 Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend... 

Sandfire delivers 66% increase in interim net profit

By: Simone Liedtke     20th February 2018 Low-cost production and a rising copper price have driven Sandfire Resources' sales to a record and enabled the ASX-listed miner to increase its dividend and strengthen its balance sheet to fund growth opportunities. High grades and strong operating margins at DeGrussa, combined with Sandfire's... 

Australian Mines shares surge 60% on offtake deal

By: Reuters     20th February 2018 Shares of battery and technology metals developer Australian Mines Ltd surged on Tuesday after the company signed an offtake agreement with South Korean battery maker SK Innovation for nickel and cobalt from its Sconi project. The commodity off-take agreement, which is for an initial period of... 

Investors watching closely as Ramaphosa considers Cabinet line-up

By: Reuters     20th February 2018 President Cyril Ramaphosa said on Tuesday his early morning walks gave him time to think about his cabinet amid growing speculation about its composition and the future of the finance minister. In his state of nation address on Friday, Ramaphosa strongly hinted at a cabinet shake-up when he said... 

Emerging Africa Infrastructure Fund commits $200m in loans to fragile States

By: African News Agency      20th February 2018 The Emerging Africa Infrastructure Fund (EAIF), suppliers of debt finance to private sector infrastructure projects in sub-Saharan Africa, said on Tuesday that it had ended 2017 on a high note with $200-million in loan commitments to fragile states. EAIF, a company of the Private Infrastructure... 

Fiscal consolidation the buzzword for Gigaba's maiden Budget 2018?

By: African News Agency      20th February 2018 South African economists have set their sights on fiscal consolidation and avoiding a credit ratings downgrade as Finance Minister Malusi Gigaba scrambles to close the R50-billion deficit when he delivers his maiden Budget Speech on Wednesday. In his 2017 Medium Term Budget Policy Statement... 

RCT's Head of Product Management Dave Holman, RUC Cementation Mining's Finance Director John Walters view the signing of the partnership agreement with RUC Cementation Mining General Manager Barry Upton and RCT's Executive Director and CEO Brett White.

     20th February 2018  RUC Cementation Mining Contractors and RCT partnership Smart Technology company RCT and leading underground mining contractor RUC Cementation Mining Contractors have partnered together to further develop and deliver innovative technologies to the underground mining industry. The global... 

Eskom board called on to prove utility not trading recklessly

By: Terence Creamer     19th February 2018 The Institute for Accountability in Southern Africa has written to Eskom chairperson Jabu Mabuza requesting a detailed written explanation as to why the current board believes the State-owned utility can be rescued from its current financial distress, cautioning that Eskom may currently be... 

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