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Judge to rule next week on latest Eskom-Nersa legal wrangle

By: Terence Creamer Updated 5 hours ago Judge Jody Kollapen has reserved judgment in Eskom’s application to have the National Energy Regulator of South Africa’s (Nersa’s) rejection of its latest revenue application set aside as irrational and unlawful. Following a virtual hearing on December 1, Kollapen indicated that he expected to... →

Faster-than-ever renewable electricity growth supports emergence of a new global energy economy

By: Simone Liedtke 1st December 2021 Stronger policies and raised climate goals leading into COP26 are driving renewables to new records, but faster deployment across all key sectors is needed to reach net zero, the International Energy Agency (IEA) says in a new report. It adds that the growth of the world’s capacity to generate... →

Absa PMI rises to 57.2 in November

By: Simone Liedtke 1st December 2021 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) recorded a solid increase in November, gaining 3.6 points to 57.2, making it the highest level for the headline PMI since before the third wave of Covid-19 infections and the social unrest shock in July. At 55.4, the average headline... →

TNPA appoints new port managers at Saldanha, Cape Town, Mossel Bay and Richards Bay

By: Simone Liedtke 1st December 2021 Transnet National Ports Authority (TNPA) has appointed new port managers at Saldanha Bay, Cape Town, Mossel Bay and Richards Bay, as part of its new operating model to reposition South Africa in the global market and ensure growth and sustainability. Shadrack Tshikalange has been appointed port... →

PwC describes economic outlook for 2022 as ‘uncertain at best’

By: Marleny Arnoldi Updated 5 hours ago Professional services firm PwC maintains in its latest economic outlook that the main factors influencing South Africa’s economy in 2022 are likely to be load-shedding, lockdown restrictions, municipal coalitions and fiscal spending, global economic growth and supply chain challenges. The firm... →

South Africans focussing on wellbeing, balancing purpose with earning more – Deloitte

By: Donna Slater Updated 5 hours ago Compared with 12 months ago, South Africans show a strong shift to introspection and their wellbeing, while also seeking to better balance purpose with earning more money, professional services firm Deloitte’s 'State of the South African Consumer Tracker' report states. The study obtained... →

DWS appeals water use rights transfer ruling

By: Marleny Arnoldi Updated 6 hours ago After the Supreme Court of Appeal (SCA) on November 9 ruled that trading of water rights is not unlawful, the Department of Water and Sanitation (DWS) has filed an appeal to the Constitutional Court against the decision. In turn, the SCA judgment followed three appeals, including by the South... →

Solidarity launches SOE corruption whistleblower platform

By: Marleny Arnoldi Updated 6 hours ago Trade union Solidarity has launched a new protected whistleblower portal to empower employees to expose corruption at Eskom and other State-owned enterprises (SOEs). Although this platform is launched with a specific focus on Eskom, it is also a platform where anyone can blow the whistle on... →

E2 crime fighting initiative extends to eight provinces

By: Tasneem Bulbulia Updated 6 hours ago Industry organisation Business Leadership South Africa and its subdivision Business Against Crime South Africa (Bacsa) have announced the national roll out of the Eyes and Ears (E2) initiative to eight of the country’s provinces as efforts to combat increased crime during the festive season... →

Emira portfolio performs in line with expectations

By: Tasneem Bulbulia Updated 6 hours ago JSE-listed Emira Property Fund says that its portfolio has performed in line with expectations for the four months ended October 31. While the fourth wave of Covid-19 infections is expected to slow down the recovery of the local economy and deteriorate property metrics further, the diversified... →

Gateway invests in Mauritius healthcare facilities

By: Tasneem Bulbulia Updated 6 hours ago Mauritius-based African real estate developer Gateway Real Estate Africa (GREA) has announced that it is the lead investor and developer of a new 81-bed, multi-specialty hospital in Curepipe and a 135-bed oncology hospital in Coromandel with a total investment value of about $54-million. The... →

St Helene Artemis Hospital

Sanral has R1.8bn of road construction projects planned for Sundays River municipality

By: Schalk Burger Updated 5 hours ago The South African National Roads Agency Limited (Sanral) has planned multiple road construction projects worth R1.8-billion in the Sundays River local municipality, in the Eastern Cape. “In the Eastern Cape, we manage 4 952 km of our 22 214 km national road network. Our operations on the stretch... →

Vumela Fund invests in Kusini Water

By: Natasha Odendaal 1st December 2021 The Vumela Fund is investing an undisclosed amount into cleantech enterprise Kusini Water to expand its operations and broaden its ability to bring clean, safe drinking water to people in rural, peri-urban and informal settlements throughout Africa. Kusini Water provides clean drinking water to... →

Etion reports improved half-year results

By: Creamer Media Reporter 1st December 2021 JSE-listed Etion has reported an improved financial performance during the six months ended September 30, 2021. The group posted earnings before interest, tax, depreciation and amortisation (Ebitda) of R100.1-million during the six months to September 30, 2021, a significant improvement on the... →

Broadband Infraco relaunches Basadi in Telecoms initiative

By: Creamer Media Reporter Updated 5 hours ago Broadband Infraco (BBI), in collaboration with Sentech, has resuscitated the Basadi in Telecoms Programme to empower to women-owned businesses and help provide business opportunities. The programme was initially launched in 2015 by the late former BBI CEO Puleng Kwele. →

Unicef, Liquid partner in Giga initiative

By: Natasha Odendaal Updated 6 hours ago Pan-African technology group Liquid Intelligent Technologies has partnered with the United Nations Children’s Fund (Unicef) to support the Giga initiative’s ambitions of connecting every school to the Internet. Liquid will share anonymised data to support the work of Giga, which was founded by... →

SAB launches initiative to accelerate responsible alcohol consumption

By: Simone Liedtke Updated 5 hours ago South African Breweries (SAB) has committed to use its scale, reach and expertise to accelerate responsible alcohol consumption through the launch of a new evidence-based platform. The new platform is called SAB Sharp, a play on words communicating SAB’s leadership in championing responsible... →

Hystead completes disposal of Delta City Mall in Belgrade, Serbia

By: Tasneem Bulbulia Updated 6 hours ago JSE-listed Hyprop’s 60%-owned Hystead has disposed of its indirect shareholding in the company that owns the Delta City Mall in Belgrade, Serbia. Cash proceeds from the disposal have been received and the net proceeds of the disposal will be used to reduce debt. →

Gold Fields’ South Deep solar now 50 MW, equivalent wind planned

By: Martin Creamer Updated 4 hours ago South Deep gold mine in Gauteng, where a 40 MW solar power project was initially announced, will now have a 50 MW solar plant as a result of the procurement of more efficient solar panels. Mining Weekly can report that the construction of the R715-million solar power plant at South Deep will... →

Creamer Media screenshot taken at Gold Fields ESG online presentation

Photo by Creamer Media
Gold Fields CEO Chris Griffith

Illegal connections: About 700 Soweto homes in the dark after Eskom disconnects its power

By: News24Wire Updated 7 hours ago About 700 houses in Diepkloof Zone 3, Soweto, are in the dark after Eskom disconnected its power supply to the area. Eskom accused residents of illegally connecting electricity to their homes and disconnected them last week. Eskom Gauteng spokesperson Amanda Qithi said they disconnected power in... →

Sable to undertake rights issue at R1 a share followed by transaction at R5 a share

By: Martin Creamer Updated 7 hours ago The rights issue that Johannesburg Stock Exchange-listed Sable Exploration and Mining is to undertake at R1 a share will be followed immediately by a transaction at R5 a share, giving an immediate fivefold uplift to the shareholders of the company. This follows mining company Magni Investment... →

Sable’s James Allan interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer Media

Petrol price increase was wrong, energy dept admits

By: News24Wire 1st December 2021 While the petrol price still went up on Wednesday, it was by 75c per litre, and not 81c as the department of mineral resources and energy incorrectly stated this week. "The 6 cents difference is due to the fact that the adjustment of wages for service station workers had already been implemented... →

Eskom CEO sees end to crisis in shift from coal

By: Reuters 1st December 2021 South African state power utility Eskom sees an opportunity to emerge from years of crisis by shifting from coal-fired power generation towards natural gas and renewables, its chief executive told Reuters. Eskom has implemented power cuts for more than a decade in Africa's most industrialised... →

Tesla’s SA partner raising renewable energy’s profile in SA

1st December 2021 US automotive manufacturer Tesla’s South African partner, Rubicon Group brought the first Tesla Model X Performance Edition all-electric sports utility vehicle into the country to raise renewable energy’s profile in the country. Simone Liedtke, who saw a demonstration of the vehicle, tells us more. →

Tesla’s SA partner raising renewable energy’s profile in SA

Steel’s path to go green will cost industry up to $278bn

By: Bloomberg 1st December 2021 The world’s steel industry could eliminate its greenhouse gas emissions by 2050 through ramping up recycling, using hydrogen for fuel and capturing carbon from older plants, according to a BloombergNEF study. But getting there won’t be easy. Steel production generates an estimated 7% of global... →

Even the battery boom can’t escape world’s supply chain woes

By: Bloomberg 1st December 2021 Soaring commodity prices and supply chain bottlenecks threaten to push up the cost of batteries seen as crucial in the fight against climate change. Higher raw material costs could push the average price of a lithium-ion battery pack to $135 per kilowatt-hour in 2022, a 2.3% gain from this year’s... →

Barclays’ analysts back Glencore coal strategy

By: Martin Creamer 1st December 2021 Glencore’s coal strategy favours a Paris-compliant coal runoff, which increases investability, say Barclays’ equity research analysts in a note. Analysts Ian Rossouw, Amos Fletcher and Tom Zang see little value to unlock in the current coal market environment and question whether a coal business... →

Screenshot of Barclays, Glencore and Bloomberg research

Photo by Barclays
Coal, copper and diversified index

Metrorail in recovery mode after vandals cripple embattled rail service in Cape Town

By: News24Wire 30th November 2021 Metrorail teams have started recovery operations in Cape Town after fibre optic cables were vandalised which resulted in the cancellation of services. "The lines were vandalised but they are telecom lines with no copper whatsoever," said its acting spokesperson, Nana Zenani. →

Global trade to increase 23% from 2020 levels – Unctad

By: Donna Slater 30th November 2021 The United Nations Conference on Trade and Development (Unctad) forecasts that global trade will reach about $28-trillion this year – an increase of 23% on 2020 levels, after stabilising in the second half of the year. It notes, however, that the outlook for 2022 is “very uncertain”. →

Public interest objectives of spectrum licensing must be prioritised, webinar participants hear

By: Schalk Burger 30th November 2021 South Africa's telecommunications industry, policy makers and regulators must prioritise the various developmental objectives sought from radio frequency spectrum's use to overcome the multiyear challenges to assigning spectrum for use, mobile telecommunications company Vodacom policy and... →

Germiston-based DNG Energy receives first LNG shipment

By: Donna Slater 30th November 2021 Pan-African liquefied natural gas (LNG) supply network DNG Energy has received a shipment of LNG at its plant in Germiston, enabling the company to accelerate its pilot projects with its partners in the next few weeks. DNG Energy’s pilot projects aim to test the feasibility of using LNG as an... →

Aspen strikes deal with J&J to launch own vaccine, called 'Aspenovax'

By: News24Wire 30th November 2021 Aspen will manufacture and sell its own branded Covid-19 vaccine in Africa, following an agreement with Johnson & Johnson. Johnson & Johnson is granting Aspen an intellectual property licence to produce its vaccine under the new brand name "Aspenovax". According to the deal, Aspen will... →

Vukile poised for growth following strong interim performance

By: Tasneem Bulbulia 30th November 2021 JSE-listed Vukile Property Fund is poised for growth following a strong interim performance for the half year from April 1 to September 30, during which it weathered the impact of the Covid-19 pandemic and the July civil unrest, CEO Laurence Rapp said in a briefing on November 30. The fund has... →

Altron index shows short-term credit improvement

By: Natasha Odendaal 30th November 2021 The latest Altron Fintech Short-term Credit Impact (AFSCI) Index has revealed an increase in short-term credit during the second quarter of 2021. The second-quarter 2021 AFSCI Index, which tracks the economic impact of short-term lending in South Africa, shows a year-on-year increase of 8.6% and... →

Aspen SA closer to launching own-branded vaccine, called Aspenovax, for Africa

30th November 2021 Pharmaceutical company Aspen’s wholly-owned South African subsidiary, Aspen SA Operations, has signed a nonbinding term sheet with Janssen Pharmaceuticals and Janssen Pharmaceutica NV, two of the Janssen Pharmaceutical Companies of Johnson & Johnson, that will form the basis for the negotiation... →

Pic of Covid-19 Vaccines with South African flag in background.

Building confidence index down one point to 34 in the fourth quarter

By: Donna Slater 30th November 2021 After slipping to 35 in the third quarter of this year, the First National Bank (FNB)/Bureau for Economic Research (BER) Building Confidence Index was marginally lower, at 34 in the fourth quarter. Confidence in the core building sector index, excluding the hardware retailers and building... →

Carbon-neutral nickel launch showcased by South Africa-linked chairperson

By: Martin Creamer 30th November 2021 South Africa-linked Gareth Penny on Monday heralded the launch of a carbon-neutral nickel with a difference in that it steers completely clear of any reliance on third-party carbon credits. Penny did so in his capacity as nonexecutive chairperson of Nornickel of Russia – and put sharper focus on... →

Nornickel capital markets day covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Eskom estimates it will take four or five days to restore power to Bedfordview following cable theft

By: Schalk Burger 30th November 2021 State-owned power utility Eskom on November 30 said an attempted cable theft incident has affected supply to the Bedfordview substation, which supplies the City of Ekurhuleni’s (CoE's) Bedfordview customers. Given the extent of the damage, it may take four to five days to restore supply. →

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