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PRASA owes suppliers and service providers R796m

By: African News Agency      28th September 2016 The Passenger Rail Service of South Africa (PRASA) owes Transnet and muncipalities some R796-million on accounts that have been outstanding for more than 30 days, and is not sure when it will be able to settle. This was according to a response from Transport Minister Dipuo Peters to Democratic... 

Brown: Unless economy in hands of majority, it's going nowhere

By: News24Wire      28th September 2016 The economy must be controlled by the black majority, said Public Enterprises Minister Lynne Brown. Brown spoke to media briefly following a closed meeting with the Black Business Council (BBC) in Sandton on Tuesday. 

Work under way to localise bimodal road-rail cargo technology 

By: Terence Creamer     27th September 2016 A domestic homologation process has been initiated for an innovative American bimodal transport solution, which integrates long-distance rail with ‘first- and last-mile’ road legs to provide a door-to-door cargo service. The process began following the recent announcement that South African... 

Futuregrowth lifts Land Bank lending freeze

By: Terence Creamer     26th September 2016 The Land Bank announced on Monday that Futuregrowth Asset Management had, with immediate effect, lifted a lending suspension controversially imposed on the bank, as well as five other State-owned companies (SoCs), on August 31. Besides the Land Bank, Futuregrowth also froze any new lending to the... 

Rail Road Association to hold AGM

By: Creamer Media Reporter      23rd September 2016 The Rail Road Association of South Africa (RRA) will hold its annual general meeting on Thursday, September 29. The gathering will take place at Scaw Metals’ offices in Germiston from 8:30. The RRA has been critical of what it views as uneven localisation efforts in Transnet’s multibillion-rand... 

Commission’s ports probe to place spotlight on Transnet’s economic impact

By: Mia Breytenbach     23rd September 2016 State-owned logistics company Transnet, which owns all commercial ports in South Africa and is the sole operator of the country’s container and automotive terminals, has naturally had a major influence over port operations and terminal handling charges. However, that role and dominance have often... 

Commission’s ports probe to place spotlight on Transnet’s economic impact

By: Mia Breytenbach     23rd September 2016 State-owned logistics company Transnet, which owns all commercial ports in South Africa and is the sole operator of the country’s container and automotive terminals, has naturally had a major influence over port operations and terminal handling charges. However, that role and dominance has often... 

Bombardier affirms localisation with new Isando facility 

     22nd September 2016 A new 6 000 m2 production site for rail technology provider Bombardier Transportation’s high-power propulsion equipment was opened earlier this month. Megan van Wyngaardt has the story. 

Futuregrowth seeks ‘right side of history’ with clean coal

By: Bloomberg     21st September 2016 Futuregrowth Asset Management, South Africa’s largest specialist fixed-income money manager, said it won’t participate in funding of coal-fired power generation until the industry develops environmentally sustainable methods of operating. The decision is based on the company’s investment... 

Launch of Osprey marks halfway point in TNPA’s R1.4bn tug-building contract 

By: Shirley le Guern     20th September 2016 The launch of the Transnet National Ports Authority’s (TNPA’s) Osprey tugboat in Durban harbour on Tuesday marked the halfway point in the port authority’s R1.4-billion tug-building contract. Southern African Shipyards CEO Prasheen Maharaj said at the launch that the Osprey was tangible proof... 

South African gold and diamond miners shine, base metals face slow recovery

By: African News Agency      20th September 2016 Moody’s Investors Service on Tuesday said South African gold and diamond miners’ credit quality had good prospects to continue strengthening. Moody’s assistant VP Douglas Rowlings said the gold and diamond miners that the agency rated in South Africa had already re-set their operations to... 

Transnet to sue Futuregrowth 

By: African News Agency      15th September 2016 Transnet CEO Siyabonga Gama revealed in Parliament on Wednesday that the South African parastatal intends to sue Futuregrowth Asset Management for damages. Briefing Parliament’s portfolio committee on public enterprises, Gama said Transnet had written to Futuregrowth demanding an apology for its... 

TNPA introduces new online order system

By: Megan van Wyngaardt     13th September 2016 Transnet National Ports Authority (TNPA) is introducing a new order-to-cash initiative to replace its nine-year-old PortsOnline system, which customers previously used for online submission of cargo documentation. The company says the initiative is as another step on its “journey to digitalise”... 

ARM keen to do more in platinum 

By: Martin Creamer     9th September 2016 Diversified mining company African Rainbow Minerals (ARM), which has reached agreement to increase its holding in the Two Rivers platinum mine to 54%, is keen on enlarging its overall platinum base still further. The Two Rivers mine on the eastern limb of the Bushveld Complex achieved record... 

800-plus exhibitors to showcase their products, services at Electra Mining 2016

By: Ilan Solomons     9th September 2016 It has become increasingly important for mining equipment and service providers to attend trade shows to benefit from increased marketing opportunities amid the difficult operating conditions in the global mining industry, says Electra Mining Africa 2016 show organiser Specialised Exhibitions... 

Certification enables company to work on rail projects

By: Victor Moolman     9th September 2016 Metal fabricator Fabrinox received the EN 15085 certification last month. This enables the company to work on rail infrastructure projects in South Africa, the rest of Africa and European Union (EU) countries. 

Grindrod reports some interest in locomotive unit despite weak market

By: Irma Venter     9th September 2016 A depressed commodities market continued to takes its toll on shipping and logistics group Grindrod in the six months ended June 30. Grindrod reported a drop in revenue to R11-billion in its management income statement – which included the company’s share in joint ventures – compared with... 

Meeting between Brown, Old Mutual and Futuregrowth postponed to Sept 13

By: Creamer Media Reporter      8th September 2016 The Department of Public Enterprises reported on Thursday that a meeting between Minister Lynne Brown and the CEOs of Old Mutual and Futuregrowth Asset Management, which had been scheduled for September 8, had been postponed until September 13. Brown, who is Shareholder Minister for Eskom and... 

Brown to meet Futuregrowth, Old Mutual after ‘unfortunate’ funding suspension

By: Terence Creamer     6th September 2016 Public Enterprises Minister Lynne Brown, who is Shareholder Minister for Eskom and Transnet, will meet with the CEOs of Old Mutual and Futuregrowth Asset Management on September 8, following Futuregrowth’s suspension of financing to six State-owned Companies (SoCs), owing to governance concerns.... 

TNPA to boost dredging skills through launch of R30m simulator

By: Shirley le Guern     5th September 2016 Transnet National Ports Authority (TNPA) has launched Africa’s first dredging simulator – a computerised training cockpit for aspirant dredger operators – in Durban.  The dredging simulator is located at Durban’s Maritime School of Excellence (MSoE) and will form the core of the school’s newly... 

IDC shocked at Futuregrowth’s decision to halt lending to some SOEs

By: Anine Kilian     2nd September 2016 The Industrial Development Corporation (IDC) has expressed surprise at asset management firm Futuregrowth Asset Management’s decision to suspend lending activities to certain State-owned enterprises (SOEs). The media earlier this week reported that Futuregrowth would halt lending to the IDC,... 

South African parastatals credible, reliable borrowers, says Brown

By: African News Agency      2nd September 2016 Public Enterprises Minister Lynne Brown on Thursday moved to assure investors that South Africa’s parastatals were on solid footing as she responded to news that a second money manager would suspend lending to the country’s state-owned companies. “I want to assure all lenders and investors that... 

Eskom, Transnet say liquidity not immediately affected by Futuregrowth suspension 

By: Terence Creamer     1st September 2016 State-owned electricity utility Eskom and freight logistics group Transnet insisted on Thursday that their immediate liquidity was not threatened by the announcement by Futuregrowth Asset Management that it was suspending additional loans to six State-owned companies (SoCs), including Eskom and... 

Suspension of loans is 'erroneous' – ANC

By: News24Wire      1st September 2016 It was an unfortunate mistake to suspend loans to State Owned Enterprises, the ruling African National Congress (ANC) said on Thursday. This comes hours after Futuregrowth Asset Management announced it was suspending its loans due to possible “patronage network” and “conflicts” in government. 

South Africa's ANC: Futuregrowth's view on State firms 'erroneous'

By: Reuters     1st September 2016 South Africa's ruling party said on Thursday it was concerned by asset manager Futuregrowth's decision to halt lending to State-owned firms and it was "erroneous" to conclude that the companies were beset by corporate governance problems. Futuregrowth on Wednesday said it would no longer lend to... 

South Africa’s biggest debt manager halts loans to State firms

By: Bloomberg     31st August 2016 Africa’s biggest private fixed-income money manager will stop lending money to six of South Africa’s largest State companies because it’s concerned about how they are being run, government infighting and threats to the independence of the finance ministry. Futuregrowth Asset Management, which has... 

Industrial symbiosis key to growth in recycling and manufacturing sectors

By: Simon Sonnekus     30th August 2016 The Industrial Symbiosis (IS) Programme delivered by the National Cleaner Production Centre of South Africa (NCPC-SA) at the Council for Scientific and Industrial Research (CSIR) campus has proven to be important in the creation of several synergies that are providing effective recycling... 

New tug fleet will enable South African ports to handle larger vessels

By: David Oliveira     26th August 2016 As part of parastatal Transnet’s Market Demand Strategy (MDS), Transnet National Port Authority (TNPA) will spend about R56-billion by 2019 to improve efficiencies of South Africa’s ports, including a R1.4-billion tugboat replacement project. The contract, which was awarded to local shipbuilding... 

New tug fleet will enable SA ports to handle larger vessels

By: David Oliveira     26th August 2016 As part of parastatal Transnet’s Market Demand Strategy (MDS), Transnet National Port Authority (TNPA) will spend about R56-billion by 2019 to improve efficiencies of South Africa’s ports, including a R1.4-billion tugboat replacement project. The contract, which was awarded to local shipbuilding... 

Specialists look to expand freightrelated services

By: Nadine James     26th August 2016 Automation specialist Abacus Automation intends to further business relations with State-owned freight utility Transnet Port Terminals (TPT), and increase its market share in port and harbour services through the implementation and optimisation of its crane automation offering. The company –... 

Bombardier opens new propulsion equipment production site in Isando 

By: Megan van Wyngaardt     25th August 2016 Rail technology provider Bombardier Transportation on Thursday inaugurated a new 6 000 m2 production site and headquarters in Isando. The facility will produce Bombardier Mitrac high-power propulsion equipment for use in the Transnet locomotives project, for which Bombardier is delivering 240... 

Grindrod records R1.1bn loss, ready to develop Coega liquid-bulk terminal

By: Irma Venter     25th August 2016 A depressed commodities market continued to take its toll on shipping and logistics group Grindrod in the six months ended June 30. Grindrod on Thursday reported a drop in revenue to R11-billion in its management income statement – which included the company’s share in joint ventures – compared... 

TNPA to launch marine training centre in Cape Town

By: Megan van Wyngaardt     23rd August 2016 As part of government’s Operation Phakisa programme aimed at fast-tracking economic growth in the oceans economy, the Transnet National Ports Authority (TNPA) is creating a marine training centre at the port of Cape Town for skills development and job creation. The new facility will be located at... 

New unit to be set up to oversee rail local-content push

By: Terence Creamer     22nd August 2016 The Department of Public Enterprises and National Treasury will consolidate procurement for locomotives into a single institution, under Transnet, to ensure “efficiency and compliance with the localisation requirements”. The decision to set up the unit was made at the recent Cabinet lekgotla,... 

TPT celebrates 1bn ton iron-ore export milestone

By: Megan van Wyngaardt     19th August 2016 Transnet Port Terminals’ (TPT’s) Saldanha operations on Thursday celebrated a significant milestone – with one-billion tons of iron-ore having passed through the bulk terminal. Saldanha is South Africa's main iron-ore export terminal and a highly mechanised bulk-handling facility that remains the... 

Kumba wins EY integrated reporting award

By: Anine Kilian     19th August 2016 Professional services firm EY has selected Kumba Iron Ore as the overall winner of its Excellence in Integrated Reporting Awards for 2016. For the awards, EY considered the top 100 JSE-listed companies and top State-owned entities (SOEs). The awards were adjudicated by the University of Cape... 

Runaway locomotive kills train driver, injures another

By: News24Wire      19th August 2016 A runaway diesel locomotive smashed head-on into a freight train and burst into flames, killing one train driver and critically injuring another, a trade union said on Friday. Train drivers Alexander Flemming and Jan Swanepoel, and train assistant Neo Jason Witkoei, were on their way from Rosmead... 

Coal export line expansion project, South Africa

By: Sheila Barradas     19th August 2016 The expansion of the rail line’s capacity is 79% complete. 

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