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African Union Commissioner H.E Dr Elham Mahmood Ahmed Ibrahim confirms attendance at 2016 Infrastructure Africa

     Updated 1 hour 9 minutes ago African Union Commissioner Her Excellency, Dr Elham Mahmood Ahmed Ibrahim, has confirmed her attendance at 2016 INFRASTRUCTURE AFRICA BUSINESS FORUM taking place on the 9th and 10th June 2016 at the Sandton Convention Centre.   Mrs Geraldine Fraser-Moleketi, Special Envoy for Gender at the... 

First permanent infrastructure being built at new DRC tin mine

By: Martin Creamer     23rd May 2016 The first permanent mining infrastructure is being built at the proposed new tin mine at Bisie, in the Democratic Republic of Congo (DRC), for which $130-million is being raised. Alphamin Resources CEO Boris Kamstra said the return airway drive being built would be used to acclimatise mining... 

S&P's downgrade will tip South Africa into job-shedding recession, bank economist warns 

By: Terence Creamer     23rd May 2016 A downgrade of South Africa’s credit rating to junk was currently only partially priced in, a leading bank economist warned on Monday, arguing that a negative assessment by Standard & Poor’s (S&P’s) on June 3 would most probably trigger a recession and precipitate the shedding on around 200 000... 

Innovation in infrastructure financing is powering Africa's future

     23rd May 2016 Responding to the substantial growing demand for infrastructure assets throughout Africa, leading global law firm Dentons and African development finance institution Africa Finance Corporation joined forces to host the Powering Africa's Future Forum. The event explored both the benefits and... 

Corobrik’s quality face bricks used in the construction of Marikana’s housing project

     23rd May 2016 Residents in the North West town of Marikana, situated just east of Rustenburg, welcomed the donation of much needed housing earlier this year. Implemented by the North West Department of Local Government and Human Settlements in conjunction with Lonmin Mine, the Marikana Extension 2 Housing... 

South African police says have no plans to arrest finmin Gordhan

By: Reuters     23rd May 2016 South Africa's elite Hawks police unit has no plans to arrest Finance Minister Pravin Gordhan as part of an investigation into a surveillance unit set up by the revenue service during his time in charge, a spokesman said on Monday. Gordhan, who was reinstated as Finance Minister in December, had... 

Regulator asks China Molybdenum how it will finance Brazil buy

By: Reuters     23rd May 2016 China Molybdenum (CMOC) said Chinese regulators have asked it to disclose how it will finance its $1.5-billion acquisition of Anglo American Plc's niobium and phosphates business in Brazil. The request comes after CMOC, one of China's largest producers of molybdenum, agreed to buy... 

CEOs, govt work on initiatives to stave off downgrade

By: Creamer Media Reporter      20th May 2016 Around 90 CEOs were working in conjunction with government to protect South Africa’s investment grade credit rating, the Banking Association South Africa said in a statement on Friday. Led by Telkom chairperson Jabu Mabuza, the National Business Initiative, along with the Department of Finance... 

Russia eyes $1.3bn proceeds from Alrosa, Sovkomflot stake sales - reports

By: Reuters     20th May 2016 The Russian government aims to make over 84-billion roubles ($1.3-billion) from selling its stakes in diamond miner Alrosa and the shipping firm Sovkomflot this year, Economy Minister Alexei Ulyukayev was quoted as saying on Friday. Russia plans a major privatisation push this year in a move to... 

Finance Minister Gordhan 'not the criminal type' – ANC chief whip 

By: African News Agency      20th May 2016 African National Congress (ANC) chief whip in Parliament Jackson Mthembu on Thursday backed Finance Minister Pravin Gordhan, saying he was not the criminal type and called on those who were “peddling lies” about him to be caught. Addressing journalists in Parliament, Mthembu condemned weekend... 

Alternative fundraising model seen flourishing but regulatory issues could stifle uptake in South Africa

By: Mia Breytenbach     20th May 2016 The mining industry is facing increasing risk aversion from equity and debt investors, owing to testing circumstances in the depressed global market, particularly with regard to falling commodity prices, slower economic growth in China and reduced mining production. Owing to traditional funding... 

Countdown begins for key South Africa-linked radio astronomy developments

By: Keith Campbell     20th May 2016 South Africa’s MeerKAT radio telescope array will be ready to start scientific observations by the end of next month, South African Science and Technology Minister Naledi Pandor announced at last month’s Third SKA African Partner Countries Ministerial Meeting. By then, 21 antennas would be... 

Australia to get low emissions technology roadmap

By: Creamer Media Reporter      20th May 2016 Australia would develop a Low Emissions Technology Roadmap to highlight growth areas for clean technology, map the development of new emissions reductions technologies and identify opportunities to be part of future global energy supply chains, the coalition government announced on Friday.... 

Countdown begins for key South Africa-linked radio astronomy developments

By: Keith Campbell     20th May 2016 South Africa’s MeerKAT radio telescope array will be ready to start scientific observations by the end of next month, South African Science and Technology Minister Naledi Pandor announced at last month’s Third SKA African Partner Countries Ministerial Meeting. By then, 21 antennas would be... 

Manufacturer spends on socioeconomic upliftment

     20th May 2016 Construction products manufacturer Chryso Southern Africa (SA) Group is completely committed to the transferal of skills, socioeconomic development, and transformation within the construction sector in which it operates, says human resources and organisation GM Brian Matthee. He says Chryso,... 

New African automotive body to offer support to aspirant manufacturers

By: Irma Venter     20th May 2016 The initial focus of the newly formed African Association of Automobile Manufacturers (AAAM) will be to assist countries wishing to participate in the automotive value chain to implement the appropriate legislation and regulations that will allow the automotive industry to thrive on the... 

South Atlantic Cable System, Angola and Brazil

By: Sheila Barradas     20th May 2016 The project involves the construction of the world’s first submarine cable system across the South Atlantic. 

The impact of local content rules in renewables sector questioned

     20th May 2016 By Dr Chris Ettmayr and Professor Hendrik Lloyd Economies around the world are demanding more energy, but the nature of the demand is changing, with preference given to energy sources that have a reduced environmental impact. A dichotomy arises for governments that need to increase generation... 

The ‘P’ in PIIGS

By: Riaan de Lange     20th May 2016 It is late in the afternoon on International Workers Day as our family enjoy refreshments in a town on the eastern side of the Algarve, the southernmost region of continental Portugal, about 25 km west of the Spanish border. We are at a street café, in the most glorious of sunshine, with a slight... 

Johannesburg’s City Power among big winners at African Utility Week awards

By: Kim Cloete     19th May 2016 Johannesburg’s City Power has scooped the award for Africa’s Power Utility of the Year, while the George Airport solar plant and Sierra Leone’s Kandeh Yumkella of the Sustainable Energy for All Initiative also won awards. Uganda’s National Water and Sewerage Corporation won the coveted Water... 

Stefanutti sees 17% rise in operating profit despite revenue drop

By: Anine Kilian     19th May 2016 Despite tough market conditions compounded by increasingly delayed payments and reductions in advance pay from clients in the construction industry, JSE-listed group Stefanutti Stocks saw a 17% rise in operating profit from R335-million in the 2015 financial year to R392-million for the year... 

Russia to lend Egypt $25bn to build nuclear power plant

By: Reuters     19th May 2016 Russia will loan Egypt $25-billion to finance building and operating a nuclear power plant in Egypt, the official gazette said on Thursday. Egypt and Russia signed an agreement on Nov. 19 for Russia to build Egypt's first nuclear power plant in Egypt and to extend Egypt a loan to cover the cost... 

Transparency equals bankability, World Diamond Congress hears

By: Martin Creamer     19th May 2016 The large number of bad-debt bankruptcies in the diamond industry in recent years was aired on the second day of the 37th World Diamond Congress in Dubai, where much emphasis was again placed on the critical need for financial transparency. De Beers commercial development head Howard Davies drew... 

Call for snap debate on attack against Gordhan

By: News24Wire      19th May 2016 The Democratic Alliance (DA) on Thursday called for a snap debate on what it called the political assault against Finance Minister Pravin Gordhan and the National Treasury. DA shadow minister of finance David Maynier said in a statement that he has sent a request to Speaker of the National... 

China sets aside $4bn to finance steel, coal capacity cuts

By: Reuters     19th May 2016 The Chinese central government will earmark 27.64-billion yuan ($4.23-billion) to help local governments pay for capacity closures in the steel and coal sectors this year, the Finance Ministry said on Thursday. The industrial enterprise restructuring funds will come in two parts, with the first... 

Gordhan spy charges could be unconstitutional – law expert

By: News24Wire      19th May 2016 The 1982 Protection of Information Act, which would reportedly be used to charge Finance Minister Pravin Gordhan with espionage, could be unconstitutional. According to criminal law expert James Grant, Sections 3 and 4, which prohibit obtaining and disclosing certain information, deal with... 

Lucapa’s latest Lulo sale nets A$2.9m

By: Creamer Media Reporter      19th May 2016 ASX-listed Lucapa Diamonds has made A$2.9-million from the sale 1 862 ct of diamonds from its Lulo mine, in Angola, representing an average price of A$1 580/ct. Since the sale, Lucapa had recovered some large diamonds, which weigh more than 10.8 ct, from trial mining at the E46 alluvial terraces,... 

Water, energy sectors need to collaborate more – World Bank

By: Kim Cloete     18th May 2016 The interplay between water and energy is more critical than ever, with climate change forcing people to work together, according to World Bank energy and extractives global practive director Charles Feinstein. “You can’t tackle energy problems without being sensitive to water demands. Global... 

Minister launches long-term acid mine water solution 

By: Martin Creamer     18th May 2016 Water Minister Nomvula Mokonyane on Wednesday launched a long-term project to turn acid mine drainage (AMD) into safe water for commercial use as either industrial or potable water. The Minister chose the old south-west vertical shaft area of the dormant East Rand Proprietary Mines (ERPM) to... 

SA debt not unsustainable – Gordhan 

By: African News Agency      18th May 2016 South Africa’s debt had not reached unsustainable levels and the deficit was being managed well, Finance Minister Pravin Gordhan said on Wednesday. “We kept our promise that we will consolidate our fiscus ever further and above all we said we would make sure that our debt is sustainable. 

Gordhan does not know if Gupta family under investigation

By: Reuters     18th May 2016 South Africa's Finance Minister Pravin Gordhan said on Wednesday he did not know whether a wealthy family with close ties to President Jacob Zuma was under investigation on allegations of illegally moving money out of the country. The main opposition Democratic Alliance says it has written to the... 

Arafura lowers Nolans operating cost estimate

By: Mariaan Webb     18th May 2016 Rare earths company Arafura Resources reduced the operating costs for its Nolans project, in the Northern Territory, by 15%, the company announced on Wednesday. Operating costs were lowered to A$12.36/kg, which MD Gavin Lockyer said entrenched Nolans in the lowest quartile of the cost curve. 

Renewable-energy prices reach low of $0.03/kWh 

By: Kim Cloete     18th May 2016 New technologies and the rapid rise of renewable energy have shaken up the global energy landscape, with prices falling to below $0.03/kWh. “We are now in the world of three cent renewable energy,” said Bloomberg New Energy Finance UK advisory board chairperson and founder Michael Liebreich. 

Gordhan speaks out on arrest reports

By: News24Wire      18th May 2016 Finance Minister Pravin Gordhan says reports of his imminent arrest have been extremely distressing for him and his family. He said in a statement on Tuesday that he was not aware of any charges or further investigations until the reports surfaced over the weekend. 

South African executives delaying investment decisions – Grant Thornton

By: Anine Kilian     17th May 2016 Nearly two-thirds of South African business executives are delaying their investment decisions, while almost half are considering investing offshore, owing to uncertainty regarding the future political direction of the country. These were the findings of the latest Grant Thornton International... 

Zuma says high unemployment is part of apartheid legacy 

By: African News Agency      17th May 2016 South African President Jacob Zuma on Tuesday told Parliament that rampant unemployment had its roots in apartheid because the white regime denied black people education. In response to a question from Democratic Alliance (DA) finance spokesperson David Maynier, Zuma replied that joblessness was... 

Commodity price slump creates opportunities for resource cooperation

By: Esmarie Swanepoel     17th May 2016 Weaker global commodity prices were creating opportunities for resource-rich nations to find shared solutions, Western Australia’s Mines and Energy Minister Sean L’Estrange said on Tuesday. Speaking at the first day of the Latin America Downunder conference, L’Estrange noted that an agreement... 

Molefe’s negative renewables comments attract yet more criticism 

By: Terence Creamer     16th May 2016 Eskom CEO Brian Molefe’s negative comments regarding the performance of renewable energy in South Africa continued to attract criticism on Monday, with a solar photovoltaic (PV) industry body describing Molefe’s views as “ill-informed at best, and misleading at worst”. During a recent update on... 

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