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Kenmare lifts FY17 production guidance as market looks positive

By: Megan van Wyngaardt     16th January 2017 LSE-listed Kenmare Resources on Monday adjusted its production guidance for this year to between 950 000 t and 1.05-million tonnes of ilmenite, 5% to 16% higher than production for 2016, owing to increased utilisation and recovery rates at its Moma titanium minerals mine, in Mozambique. The miner... 

Rains offer silver lining in agriculture sector – FNB

By: Anine Kilian     16th January 2017 Although the ongoing drought in South Africa, alleviated by rain in some provinces notwithstanding, has resulted in the country’s gross domestic product (GDP) decelerating in 2016, the prices of various agricultural products are expected to moderate this year as rain across producing areas boosts... 

How agricultural sector will help tame food inflation in 2017

     16th January 2017 The current rains are a welcome relief to farmers; they are the proverbial silver lining in what has been a gloomy season.   “The past year has been testing for the industry; the drought has had an impact on the economy with South Africa’s gross domestic product (GDP) decelerating in 2016. We... 

Shining iron-ore future for Sierra Leone possible as Chinese investors commit

By: Natasha Odendaal     13th January 2017 The $700-million planned injection by Chinese State-owned mining company Shandong Iron and Steel into an iron-ore processing plant at the Tonkolili mine, in Sierra Leone, has further cemented the West African region’s strong mining outlook, BMI Research said on Friday. The new investment, which... 

BC agrees Kinder Morgan pipeline expansion meets 5 prerequisites

By: Henry Lazenby     12th January 2017 British Columbia has issued an environment assessment certificate for Kinder Morgan’s Trans Mountain Expansion project, adding its own 37 specific conditions. These conditions are based on the National Energy Board's (NEB's) project report on May 19, 2016, recommending to the federal government... 

World Bank warns rand could take hit amid global policy flux

By: Terence Creamer     10th January 2017 The World Bank has issued a warning that the South Africa currency could come under pressure in 2017, owing to heightened policy uncertainty in the US and Europe, which could constrain capital flows to emerging and frontier markets. However, the bank’s baseline projection is for the South African... 

New-car prices jumped 11% in 2016, fuel costs a concern for 2017

By: Irma Venter     10th January 2017 New-car prices jumped by around 11.03% in 2016, says asset finance house WesBank. The increase has been measured based on the average transaction value WesBank recorded on new-vehicle sales last year. 

Ghana Q3 GDP growth rises to 4% yr-on-yr

By: Reuters     28th December 2016 Ghana's gross domestic product (GDP) growth in the third quarter of 2016 rose to 4% year-on-year, up from 3.6% a year ago due to increased oil production, the statistics office said on Wednesday. For years Ghana's economy grew at 8% annually on the back of its gold, oil and cocoa exports. But it... 

Absent growth SA’s junk escape may be short-lived

By: Bloomberg     16th December 2016 South Africa’s chances of repeating its escape from a junk credit rating in 2017 are in the balance as focus intensifies on tepid economic growth and simmering political tensions. 

QRC publishes research to quash ‘flawed’ TAI coal report

By: Esmarie Swanepoel     9th December 2016 The resources sector has countermanded think tank The Australian Institute’s (TAI’s) data on the importance of coal mining to the Queensland economy, saying the research is based on “unfounded assumptions” and that it “discounted critical economic impacts”. The TAI in September released a report... 

Desalination helps South32’s KZN aluminium smelter beat water woes

By: David Oliveira     9th December 2016 To ensure sustainable operations in drought-stricken Richards Bay, KwaZulu-Natal, diversified miner South32 has invested R74-million in a seawater desalination plant that uses membrane technology to produce cooling process water for its Hillside aluminium smelter. The diversified miner appointed... 

Importance of energy efficiency highlighted at DoE conference

By: Simone Liedtke     9th December 2016 The importance of energy efficiency as part of policy is increasing in many countries, subsequently making it important to develop and maintain well founded indicators to better inform policymaking. 

South African commercial aviation sector outperforming economy, index shows

By: Keith Campbell     9th December 2016 The South African commercial aviation sector “is alive and well and outperforming most other sectors of the economy by a considerable margin” reported the Commercial Aviation Association of Southern Africa (Caasa) in a statement released on November 29. The release marked the publication of the... 

Work starts on Exploring for the Future programme

By: Esmarie Swanepoel     8th December 2016 The Association of Mining and Exploration Companies (AMEC) has welcomed the federal government’s implementation of the A$100-million Exploring for the Future programme, which seeks to boost the productivity and competitiveness of the minerals sector. Resources and Northern Australia Minister... 

New Brunswick announces plan to phase out coal generation

By: Henry Lazenby     7th December 2016 Canada’s maritime province of New Brunswick is following in the footsteps of the federal government and other provinces such as Alberta and Ontario to phase out or announce plans to completely phase out coal-fired electricity generation by 2030. In its new action plan ‘Transitioning to a... 

KZN turns sod on R85bn privately owned coal power station 

By: African News Agency      6th December 2016 KwaZulu-Natal Premier Willies Mchunu on Tuesday said he was confident that the R85-billion investment to build a smelter park would usher in a new era characterised by employment and prosperity in the province. The CS Smelter Park, an investment made through the Brics countries, is earmarked to... 

GDP contraction a worry for investors

By: African News Agency      6th December 2016 South African investors should be concerned about the stagnant economic growth which also has an adverse impact on business confidence, an economist said on Tuesday. This comes after South Africa’s gross domestic product (GDP) growth rate slowed to 0.2 percent in the third quarter, recording a... 

GDP growth slows to 0.2% in Q3

By: News24Wire      6th December 2016 South Africa’s gross domestic product (GDP) grew at a meagre 0.2% in the third quarter of 2016, Statistics South Africa announced on Tuesday. The growth recorded was significantly lower than the previous quarter’s 3.3% and 0.1 percentage point lower than the 0.3% recorded in the third quarter of... 

Continued investment growth foreseen in Western Cape

By: Simone Liedtke     2nd December 2016 The Western Cape is increasingly being recognised as a feasible alternative gateway into South Africa or Africa, owing to it contributing 14.3% of the country’s gross domestic product, making it the second biggest provincial economy in the country, says engineering and design company WSP |... 

Local procurement accord key to unshackling struggling economy

By: Megan van Wyngaardt     30th November 2016 To enhance local procurement to the benefit of the economy, South African businesses need to start implementing the commitments set out in government’s local procurement accord. Speaking at an economic policy dialogue to discuss the role that big business can play in enhancing local procurement... 

Business confidence drops to 38 in Q4

By: Megan van Wyngaardt     29th November 2016 After improving to 42 index points in the third quarter, the Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) fell by four points to 38 in the fourth quarter. This means that a slightly bigger majority of the 1 600 respondents, surveyed between October... 

Govt, business and labour to up partnership game in 2017 

By: Natasha Odendaal     29th November 2016 The partnership between civil society, labour, business and government that recently averted a near-downgrade of South Africa’s investment rating will “lift its game” next year to ensure that citizens start to experience change, according to Finance Minister Pravin Gordhan. Speaking at a World... 

Latest Aviation Index for South Africa shows sector outperforming rest of economy

By: Keith Campbell     29th November 2016 The South African commercial aviation sector “is alive and well and outperforming most other sectors of the economy by a considerable margin” reported the Commercial Aviation Association of Southern Africa (Caasa) in a statement released on Tuesday. The release marked the publication of the... 

First African Trade Forum to discuss Continental free trade

By: African News Agency      29th November 2016 Aiming at creating a single continental market for goods and services, free movement of business persons and investments and expand intra-African trade among other things, the first ever Africa Trade Week 2016 was held in Addis Ababa on Monday. The Continental Free Trade Area (CFTA) is also... 

Western Cape govt intensifies fight against climate change

By: Megan van Wyngaardt     28th November 2016 The Western Cape provincial government has been accepted to join the Climate Group – States & Regions Alliance, an international group of provincial, State and regional governments that aims to accelerate the global transition to a low-carbon economy. Members share expertise on innovative policy,... 

Wine and Olive Oil Suppliers Expo heads for Cape Town in 2017

By: Creamer Media Reporter      27th November 2016 South Africa is the eighth largest producer of wine in the world with export volumes having doubled in the past ten years. According to a study commissioned by the SA Wine Industry Information & Systems (SAWIS), published in January 2015, of the R36.1 billion gross domestic product (GDP)... 

Signs of hope in South Africa’s struggling agriculture sector  

By: Anine Kilian     25th November 2016 The agriculture sector contributes about 1.6% to South Africa’s gross domestic product (GDP), below the 2.2% contribution that is needed for the sector to remain sustainable, Agricultural Business Chamber (Agbiz) CEO Dr John Purchase said on Friday. Addressing delegates at a conference focused on... 

Manufacturing Circle believes Vaal Triangle should be zoned for special economic development

By: Megan van Wyngaardt     25th November 2016 If government declares the Vaal Triangle a special economic zone, it will not only attract investment back to the area, but also reignite the manufacturing industry, creating jobs and more prosperity. Manufacturing Circle chairperson Andre de Ruyter said on Friday that this could be carried out... 

Trump’s energy job promise to clash with scant supply of labour

By: Bloomberg     23rd November 2016 President-elect Donald Trump promises that his sweeping changes to energy policy will create “many millions” of American jobs. Finding all those workers may be the challenge. World markets are flush with coal and oil, keeping prices subdued and making it difficult for producers to profit from new... 

Minimum wage adds stability that local economy needs – Jonas 

By: Megan van Wyngaardt     21st November 2016 The newly proposed national minimum wage of R3 500 will not only establish greater labour stability in South Africa, but it will also evoke positive collaboration between business, labour and government, Deputy Finance Minister Mcebisi Jonas said on Monday. Speaking on the sidelines of a media... 

Agri confidence declines marginally in Q4, but business is still positive

By: Anine Kilian     21st November 2016 While the Agricultural Business Chamber (Agbiz)/IDC Agribusiness Confidence Index declined by five index points in the fourth quarter of this year to 55 index points, any index above 50 still indicates expansion in South African agribusiness, said Agbiz in a statement released Monday. The chamber... 

Survival of steel construction industry top priority

By: Simone Liedtke     18th November 2016 This year, the Southern African Institute of Steel Construction’s (Saisc’s) focus has been on ensuring that steelwork is sourced locally to save the local steel industry. 

JSE Top 40 index indicative of deeper-lying problems

By: Megan van Wyngaardt     17th November 2016 While industrial-listed companies as a proportion of the JSE’s Top 40 Index increased from 31% in the early 2000s to 70% in 2015, the resource-listed companies dropped, from over 50% to just 12% in the same period, though they slowly ticked back up to just over 20% by October. This, noted Bayhill... 

PPC not out of the woods yet, but sees growth potential

By: Megan van Wyngaardt     16th November 2016 JSE-listed PPC has posted flat earnings before interest, taxes, depreciation and amortisation (Ebitda) of R1.14-billion for the six months ended September 30, while its Ebitda margin, at 22.2%, was negatively impacted on by selling price pressures and the timing of administration and other... 

As domestic oil-refinery debate continues, study highlights big jobs contribution

By: Terence Creamer     16th November 2016 The employment and economic spin-offs of South Africa’s domestic oil refining sector have received prominence in a new study, which suggests that the country’s six refineries generate yearly economic activity of more than R200-billion and sustain more than 480 000 jobs. The study, titled ‘The... 

Iron-ore tax to shrink Australia’s economy, cost it thousands of jobs – report

By: Esmarie Swanepoel     14th November 2016 The National Party of Western Australia’s proposed new tax on iron-ore could cost Australia about 13 500 jobs and will shrink the economy by about A$2.9-billion a year. Commissioned by the Minerals Council of Australia (MCA), a research study by Deloitte Access Economic has found that the... 

Japanese app offers coffee as reward for smartphone-free driving

By: Irma Venter     11th November 2016 Three Japanese companies have joined forces to reward drivers for not using their phones while driving, making use of an innovative smartphone app. Auto maker Toyota Motor Corporation, coffee company Komeda, and telecommunications operator KDDI Corporation kicked off the initiative in September,... 

Study forecasts strong growth in demand for lubricants in SA and Nigeria

By: David Oliveira     11th November 2016 According to research from growth consultancy Frost & Sullivan, the volatility of oil prices and the devaluating currencies of (?) Nigeria and South Africa are set to provide a huge boost for the production of automotive lubricants in the two countries. The ‘Analysis of the Automotive Lubricants... 

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