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Northam investing R5.5bn in platinum growth projects 

By: Martin Creamer     26th August 2016 Platinum mining company Northam on Friday elaborated on the company’s suite of four growth projects timed to fill a demand gap expected to be created by constrained future South African platinum supply. The Johannesburg Stock Exchange- (JSE-) listed company, headed by CEO Paul Dunne, expects the... 

Arbitrary licence cancellation a thing of the past as Kenya establishes oversight board

By: John Muchira     26th August 2016 Investors in Kenya’s mining sector will no longer face the risk of arbitrary cancellation of their licences, as the country has established a body to oversee the licensing of prospecting and mining activities and the leasing of mining tenements. Moreover, companies planning to invest in the... 

UAVs lead way for smaller aerospace manufacturers

By: Sebastian Whyle     26th August 2016 Unmanned aerial vehicles (UAVs) – commonly referred to as drones – have led the way in introducing smaller manufacturers to what has typically been a large-scale industry, says South African aerospace-focussed programme National Aerospace Centre (NAC) director Philip Haupt.  

Free-falling Mongolia won’t be saved by commodity revival

By: Bloomberg     25th August 2016 The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer. Yet even though the commodity market finally has a pulse again... 

How sugar tax will create future taxpayers

By: News24Wire      25th August 2016 A sugar tax should be seen as part of the serious intervention needed to ensure the taxpayer of today is around to pay their taxes and boost the SA economy of tomorrow, Ettiene Retief of the SA Institute of Professional Accountants (Saipa), told Fin24 on Tuesday. The decision to put a tax on... 

South Africa not surrendering its steel industry, says Davies

By: Kim Cloete     23rd August 2016 South Africa’s steel industry is facing some serious challenges, brought on by a global steel glut of 44-million tons a year, but it is vital for the country to do everything possible to maintain a sustainable, competitive steel industry as it is of strategic importance to the country, says Trade... 

Sugar tax ‘unfair and regressive’ – BevSA 

By: Anine Kilian     23rd August 2016 The Beverages Association of South Africa (BevSA) believes that the proposed 20% tax on sugar sweetened beverages (SSBs) could trigger between 62 000 and 72 000 job losses, hurting the South African economy and exacerbating the broader fiscal and societal costs associated with unemployment.... 

Cabinet sets up ‘Broadband War Room’ amid policy, spectrum uncertainty 

By: Terence Creamer     22nd August 2016 Amid extended delays in the finalisation of South Africa’s information and communications technology (ICT) policy and a legal dispute over the auctioning of broadband spectrum, Cabinet has announced the formation of a ‘Broadband War Room’ to address the uncertainty. Minister in The Presidency for... 

Joburg promises free WiFi for 'all residents'

By: News24Wire      22nd August 2016 Plans are afoot to have all four-million citizens in Johannesburg connected to free WiFi within five years. Zolani Matabese, Head of Broadband for the City of Johannesburg, told Fin24 that 1 000 hot-spots for access to the internet would be installed around the municipality by year-end. 

Congo slashes growth forecast after drop in copper production

By: Bloomberg     19th August 2016 The Democratic Republic of Congo cut its growth forecast for 2016 for the third time this year because of lower commodity prices and warned the economy could slow further if other industries don’t perform. The government “has duly noted the slowdown in economic growth in the DRC” in the first... 

A commodities rebound is accelerating right on China’s doorstep

By: Bloomberg     19th August 2016 China may be slowing, but a commodities rebound is under way and the world’s biggest miner knows where the next growth story is building – emerging economies in Southeast Asia. Combined gross domestic product in the ASEAN-5 nations – Indonesia, Thailand, Malaysia, the Philippines and Vietnam –... 

Chile economy shrinks in second quarter from first as mining falls

By: Reuters     19th August 2016 Chile's gross domestic product shrunk by 0.4% in the second quarter of 2016 from the first quarter, as mining in the world's biggest copper exporter contracted, the central bank said on Thursday. The fall was the first contraction from one quarter to the next since early 2010, when Chile was hit... 

China’s Silk Road revival plan could touch 4.4m people

By: Bloomberg     19th August 2016 China's ambition to revive an ancient trading route stretching from Asia to Europe could leave an economic legacy bigger than the Marshall Plan or the European Union’s (EU’s) enlargement, according to a new analysis. Dubbed 'One Belt, One Road’, the plan to build rail, highways and ports will... 

The digital transformation driving change in Africa

By: Kim Cloete     18th August 2016 Digital transformation is sweeping the world and making big inroads in Africa, where 600-million people are expected to be Internet users by 2025, when there will be four-billion connected devices on the continent. This was outlined at the Growth, Innovation and Leadership Africa 2016 conference... 

India earmarks $530m for aerial survey of deep-seated mineral resources

By: Ajoy K Das     15th August 2016 The Indian government will spend $530-million over seven years to conduct aerial surveys across 800 000 km2 of “obvious geological potential”. The Mines Ministry in March 2016 appointed an advisory consultant and based on its report, it is seeking an international agency to conduct the... 

Alara upbeat about copper/gold project in Oman

By: Megan van Wyngaardt     12th August 2016 ASX-listed Alara Resources, which focuses on mining in the Middle East, says it is well on track with the development of a low-cost copper/gold project at Washihi, in the northern region of Oman. The company believes that the legislative environment in Oman bodes well for its plans, noting that... 

Northam pushing ahead with R4.8bn Booysendal projects as it anticipates continuing platinum demand growth

By: Mia Breytenbach     12th August 2016 Despite challenging market conditions facing the South African platinum sector, scaling back on local operations, delays in various projects and a new wage negotiation season, JSE-listed mining company Northam Platinum maintains that it has “a good pipeline of projects at its Booysendal mining... 

June manufacturing output improves by 4.5%

By: Natasha Odendaal     11th August 2016 Statistics South Africa’s latest data show manufacturing output edging up 4.5% in June, an improvement on the 3.9% increase in May and the 3.2% increase in April. However, while the increase is positive, likely to contribute to a modest boost in gross domestic product (GDP) growth and higher than... 

Steadily improving South African mine output to benefit Q2 GDP figures – economist

     11th August 2016 A steady improvement in mining activity in recent months should bode well for South Africa’s second-quarter gross domestic product (GDP) figures, BNP Paribas Securities South Africa economist Jeffrey Schultz commented on Tuesday. “On a quarter-on-quarter seasonally adjusted and annualised basis,... 

Ailing Zambia economy could hurt President Lungu in election

By: Reuters     9th August 2016 Informal currency trader Jabulani Lungu thinks Zambia's ruling Patriotic Front has had its chance, and he hopes this week's general elections will bring in a new party to steer the economy out of a slump. Like many other Zambians, Lungu, who is not related to President Edgar Lungu, is worried... 

Transformation a must for economic growth – Mohale

By: Anine Kilian     1st August 2016 South Africa’s current administration has destroyed 22% more black-owned businesses than the apartheid regime, Shell South Africa chairperson Bonang Mohale told delegates at the Association of Black Securities and Investment Professionals (Absip) investment management summit in Johannesburg, on... 

New aviation statistics report shows strong South African passenger growth

By: Keith Campbell     29th July 2016 Airline passenger traffic is growing strongly in South Africa. "Passenger growth in South Africa is defying all economic logic!" highlighted Airports Company South Africa (ACSA) CEO Bongani Maseko on Friday. Passenger traffic growth usually reflects growth in gross domestic product (GDP). "GDP... 

Political turbulence overshadowing Egypt’s efforts to increase mining’s share of GDP

By: Ilan Solomons     29th July 2016 Egypt, which seeks to grow its mining sector’s contribution to the country’s gross domestic product (GDP), has become Africa’s second-largest economy after Nigeria, pushing South Africa into third place on the continent. This is according to data released by multilateral organisation the... 

France, South Africa to foster pulp, paper industry relationships

By: Mia Breytenbach     29th July 2016 With South Africa and France being “well recognised” as key players in the international paper industry, it is essential to engage in “fruitful exchanges”, including knowledge sharing and stakeholder solutions for the industry. This is according to Ambassador of France Elisabeth Barbier, who... 

Randgold reiterates commitment to investing in Mali

     28th July 2016 LSE- and Nasdaq-listed Randgold Resources has reiterated its commitment to investing in its assets in Mali. A recently concluded arbitration process cleared up confusion over the interpretation of some points in the country’s 20-year-old mining convention, which included provision for... 

Mobile ecosystem adds $150bn to Africa’s economy 

By: Natasha Odendaal     26th July 2016 The mobile ecosystem is now adding in excess of $150-billion – 6.7% of gross domestic product (GDP) – to Africa’s economy, as mobile subscribers pass the 500-million mark and new opportunities for consumers, businesses and governments are unlocked, a new GSMA study shows. The Mobile Economy:... 

South Africa waking up to entrepreneurship, but coordinated strategy still lacking

By: Mia Breytenbach     22nd July 2016 Amid fiscal constraints, political uncertainties and extremely weak economic growth, South Africa is finally placing increasing emphasis on enterprise development and cultivating an entrepreneurship culture. Epitomising this shift in emphasis, Small Business Development Minister Lindiwe Zulu said... 

Africa’s brightest youth brainstorm solutions to socioeconomic challenges 

By: David Oliveira     22nd July 2016 One hundred of Africa’s most innovative youth gathered at the Brightest Young Minds (BYM) 2016 summit, held in Johannesburg last month, to discuss and find innovative solutions for Africa’s socioeconomic challenges. “BYM is a nonprofit public-benefit organisation aimed at providing a platform for... 

Manufacturers to exploit emerging automotive markets

By: Nadine James     22nd July 2016 Original-equipment manufacturers (OEMs) are aiming to expand their client bases and establish automotive manufacturing facilities in emerging market economies, owing to the current saturation in European and US automotive markets, says auditing and consulting firm KPMG. KPMG industrial and... 

South Africa waking up to entrepreneurship, but coordinated strategy still lacking

By: Mia Breytenbach     22nd July 2016 Amid fiscal constraints political uncertainties and extremely weak economic growth, South Africa is finally placing increasing emphasis on enterprise development and cultivating an entrepreneurship culture. Epitomising this shift in emphasis, Small Business Development Minister Lindiwe Zulu has... 

Illicit flows could have funded Africa’s development 

By: Natasha Odendaal     21st July 2016 Africa would not have needed any financial assistance if illicit financial flows had remained on the continent, economic research firm Trade and Industrial Policy Strategies, or Tips, executive director Saul Levin said on Thursday. Africa had lost about $854-billion to illicit financial flows... 

Budding app economy to provide broad benefits for commerce and society

By: Schalk Burger     15th July 2016 The application (app) economy in South Africa can provide the benefits of mobility for many aspects of civil service and commerce, as well as support business growth and broader access to government resources. However, the immaturity of the local app economy, compared with those in developed... 

Budding app economy to provide broad benefits for commerce and society

By: Schalk Burger     15th July 2016 The application (app) economy in South Africa can provide the benefits of mobility for many aspects of civil service and commerce, as well as support business growth and broader access to government resources. However, the immaturity of the local app economy, compared with those in developed... 

Gordhan warns of ‘tougher’ Budget calls to sustain fiscal credibility

By: Terence Creamer     12th July 2016 For the sake of “credibility” and to sustain credit rating “breathing space” South Africa could not deviate from its fiscal-consolidation path, Finance Minister Pravin Gordhan stressed on Tuesday, while warning of even “tougher” Budgetary decisions in light of the country’s weak economic and... 

South African property market grows to R5.8tn

By: Anine Kilian     12th July 2016 The South African property sector is worth an estimated R5.8-trillion, the Property Sector Charter Council has revealed. A study, compiled by provider of investment decision support tools firm MSCI on behalf of the council, provided a snapshot of the sector using figures from 2014/15.   This... 

Good-quality waste necessary for increased mechanical recycling

By: Simon Sonnekus     8th July 2016 The South African plastic industry requires a constant stream of clean, high-quality plastic waste to maintain and increase the level of mechanical recycling in South Africa. While there has been concern over the past few years that the amount of waste exported is increasing, findings from the... 

South Africa should retain, expand and add new exporters to boost economic growth

By: Mia Breytenbach     8th July 2016 If South Africa retains 50% of its exporters in one year, the country, whose projected growth for 2016 is forecast at about 0.7%, can grow the economy by an additional half a per cent, says independent economist Dr André Gouws. Speaking at the international export/import multi-sector business and... 

South Africa needs a re-engineered approach to growth – Fuzile

By: Natasha Odendaal     5th July 2016 Adjusting South Africa’s monetary policy would not be enough to dig the nation out of its economic slump, and the country’s economy would need to be re-engineered, said National Treasury director-general Lungisa Fuzile on Tuesday. Speaking at the Economic Outlook Updates and Mid-Year Review, at... 

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