https://www.engineeringnews.co.za
R/€ = 19.27 Change: -0.01
R/$ = 16.44 Change: -0.05
Au 1879.04 $/oz Change: -27.47
Pt 862.65 $/oz Change: -22.93
 
Close

Email me free daily news

Email address

Sasol to test market for Southern African carbon-offset prospects

By: Terence Creamer     Updated 1 hour 4 minutes ago Chemicals and energy group Sasol has indicated that it intends issuing a request for information (RFI) for the development and implementation of carbon-offset projects in South Africa and the Southern African Development Community (SADC) and has called on potential participants to register their... 

Sasol to test market for Southern African carbon-offset prospects

Public Enterprises Ministry welcomes further government funding for SAA

By: Rebecca Campbell     Updated 2 hours 31 minutes ago The Minister of Public Enterprises has welcomed the decision by the government to back the business rescue plan for, and the restructuring of, State-owned national flag carrier South African Airways (SAA). The government has committed itself to provide R10.5-billion to fulfil these objectives.... 

Public Enterprises Ministry welcomes further government funding for SAA

Budget acknowledges economy’s plight, but more urgency required, say business organisations

By: Tasneem Bulbulia     Updated 1 hour 11 minutes ago Following the delivery of the Medium Term Budget Policy Statement (MTBPS) by Finance Minister Tito Mboweni on October 29, business organisations have commended its acknowledgement of the dire economic situation facing the country, but have noted that more urgency is required in terms of reforms... 

Kusile Unit 2 reaches full commercial operational status

By: Donna Slater     Updated 1 hour 48 minutes ago State-owned power utility Eskom reports that, on October 2, Unit 2 of its six-unit Kusile coal-fired power station in eMalahleni, Mpumalanga ,achieved full commercial operation status. This means the unit has progressed from its 16-month project testing phase, to officially becoming a part of... 

Kusile Unit 2 reaches full commercial operational status
Photo by Creamer Media's Donna Slater
Kusile power station under construction

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm 

By: Terence Creamer     28th October 2020 Finance Minister Tito Mboweni unveiled a significantly looser fiscal consolidation roadmap in the Medium-Term Budget Policy Statement (MTBPS) he presented to lawmakers on Wednesday when compared with the framework provided in his June Supplementary Budget. Nevertheless, he reiterated his message... 

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm
Photo by Bloomberg
Finance Minister Tito Mboweni

Operation Vulindlela delivery unit to drive growth-supportive structural reforms 

By: Terence Creamer     28th October 2020 The Presidency and the National Treasury have established a formal structure in an effort to accelerate the implementation of structural reforms that, together with the recently launched Economic Reconstruction and Recovery Plan, are at the heart of renewed efforts to boost South Africa’s... 

Operation Vulindlela delivery unit to drive growth-supportive structural reforms

Mboweni agrees to SAA's R10.5bn bailout; no funds for SABC, Post Office and Denel 

By: News24Wire      28th October 2020 South African Airways will get the R10.5-billion it has requested from government to fund its business rescue process. The monies will be made available from reductions from national departments and their entities as well as reductions from local and provincial conditional grants, according to... 

Mboweni agrees to SAA's R10.5bn bailout; no funds for SABC, Post Office and Denel

BLSA has concerns about South Africa’s debt servicing after medium-term budget speech

By: Marleny Arnoldi     28th October 2020 Business Leadership South Africa (BLSA) has expressed disappointment at Finance Minister Tito Mboweni’s allocation of R10.5-billion to embattled South African Airways in the Medium-Term Budget Policy Statement (MTBPS) that he delivered on October 28. This follows the consultancy advocating for no... 

Ramaphosa in self-quarantine, not showing Covid-19 symptoms  

By: Sane Dhlamini     28th October 2020 President Cyril Ramaphosa will be performing his duties from home after a guest at a fundraising dinner he attended tested positive for the coronavirus. According to The Presidency, Ramaphosa is not displaying symptoms. Ramaphosa is regularly screened by the South African Military Health Service... 

Ramaphosa in self-quarantine, not showing Covid-19 symptoms
President Cyril Ramaphosa

Total finds gas at Luiperd prospect

By: Marleny Arnoldi     28th October 2020 Petroleum company Total has announced that it has made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, about 175 km off the southern coast of South Africa. The discovery follows the adjacent Brulpadda discovery made in 2019, which... 

Royal Bafokeng puts muscle behind Distributed Power Africa’s energy agenda

By: Marleny Arnoldi     28th October 2020 Renewable energy company Distributed Power Africa (DPA) has announced that Royal Bafokeng Holdings (RBH) will invest $20-million in a newly formed asset company to expand on DPA’s solar energy portfolio in four key markets. RBH is a long-term African community investment holding company with a... 

Boland Cellar commissions 473 kW crowdfunded solar installation

By: Donna Slater     28th October 2020 Paarl-based wine cellars Boland Cellar and peer-to-peer solar leasing platform Sun Exchange received crowd funding from 1 204 individuals from 85 countries to finance a 473 kW solar project to provide clean electricity for the wine cellar, while also reducing its electricity costs and emissions.... 

Vivo Energy, Robex to set up a solar plant at Mali mine

By: Tasneem Bulbulia     28th October 2020 Canadian mining company Robex Resources and Vivo Energy, which sells and distributes Shell- and Engen-branded fuels and lubricants in Africa, have reached an agreement for Vivo Energy to supply solar energy to the Nampala gold mine, in Mali, for a period of five to fifteen years. The project will... 

WBHO to report 892c loss per share for FY20

By: Marleny Arnoldi     28th October 2020 Construction group Wilson Bayly Holmes-Ovcon (WBHO) has advised that it will report an attributable loss s share of between 892c and 985c apiece for the year ended June 30, as a result of project delays taking its toll amid Covid-19. This is around 200% lower than the earnings a share of 938c... 

Rail offers potential for Africa

By: Tasneem Bulbulia     28th October 2020 The growing population in Africa, coupled with the rise of urbanisation, will require additional transport capacity, and rail has a significant role to play in this, said Products Projects Consulting for Trains MD Wolfram Schwab. He was speaking during rolling stock manufacturing and servicing... 

Rules of Origin a key issue for continuing African free trade area talks

By: Rebecca Campbell     28th October 2020 African Union Ministers of Trade held their 12th meeting, undertaken virtually, on Tuesday. This was the second such meeting to be chaired by South African Trade, Industry and Competition Minister Ebrahim Patel, and was focused on concluding essential elements that remain to be agreed in the... 

Commission grants short-term exemption to SASA and its members

By: Tasneem Bulbulia     28th October 2020 The Competition Commission has granted the South African Sugar Association (SASA) and its members an exemption until June 31, 2021. The exemption has been granted subject to conditions to ensure that the information SASA and its members share is limited to that which is necessary to give effect... 

Solidarity Fund appoints new CEO

By: Creamer Media Reporter      28th October 2020 The Solidarity Fund has appointed Tandi Nzimande to succeed outgoing CEO Nomkhita Nqweni. Nzimande is a chartered accountant, who started her post articles career as a corporate finance adviser at Deutsche Bank. Following that, she acquired and ran a small business in the postal and courier... 

Solidarity Fund appoints new CEO
Tandi Nzimande

MTN Nigeria’s revenue, earnings grow despite voice, data volatility

By: Natasha Odendaal     28th October 2020 MTN Nigeria reported growth in revenue and earnings before interest, tax, depreciation and amortisation (Ebitda) despite facing volatility in voice and data revenue over the nine months ended September 30. The group’s Ebitda increased 9.1% to N497.9-billion; however, its Ebitda margin contracted... 

World airline and weather bodies agree to increase data collection cooperation

By: Rebecca Campbell     28th October 2020 The International Air Transport Association (Iata) – the representative body of the global airline industry – and the World Meteorological Organisation (WMO) have signed an agreement to expand automated meteorological data reporting by commercial aircraft. Currently, some 40 airlines and several... 

New coral species discovered on seabed prized for mining potential

By: Reuters     Updated 2 hours 34 minutes ago Three species of black coral have been discovered on the seabed of the northern Pacific Ocean, an area where several countries have contracts to explore for metals including cobalt and nickel as they race to find new supplies of the key battery elements. The corals were discovered on deep... 

Medium-term budget highlights 

Updated 2 hours 44 minutes ago   Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about the new fiscal framework presented by Finance Minister Tito Mboweni during his Medium-Term Budget Policy Statement, on Wednesday; what this could mean for public sector wages and South Africa's credit rating;... 

Medium-term budget highlights

Struggling ferrochrome needs chrome export tax as interim measure – Richards Bay Alloys  

By: Martin Creamer     28th October 2020 The struggling electricity-intensive South African ferrochrome industry, which has taken significant strides to increase its efficiency and reduce its electricity consumption, needs urgent steps to be taken to enable it to restore its competitiveness. The most far-reaching of these is the... 

Richards Bay Alloys CEO Andries van Heerden interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration  

By: Martin Creamer     27th October 2020 A flow-through share model has been drawn up with the help of top firms to stimulate badly neglected mining exploration in South Africa, Minerals Council South Africa junior and emerging miners leadership forum chairperson Errol Smart said on Tuesday. Speaking to Mining Weekly in a Zoom... 

Minerals Council South Africa Junior Miners’ Forum Chairperson Errol Smart interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

PRASA appoints acting CEO

By: Creamer Media Reporter      27th October 2020 The newly appointed board of control of the Passenger Rail Agency of South Africa (PRASA) held its first meeting on October 27 and appointed group executive for human capital management Thandeka Mabija acting CEO with immediate effect. She is expected to hold the acting CEO position for a maximum... 

ACSA reports solid 2019/20 results but warns of Covid-19 impacts going forward

By: Rebecca Campbell     27th October 2020 The State-owned Airports Company South Africa (ACSA) published its results for the 2019/2020 financial year on Tuesday. ACSA owns and operates nine South African airports, including Johannesburg’s OR Tambo International, Cape Town International, and Durban’s King Shaka International. It is also a... 

Tribunal approves IRL's buyout of Mapochs mine, with conditions

By: Marleny Arnoldi     27th October 2020 The Competition Tribunal has approved a transaction whereby natural resources investor International Resources Limited (IRL) South Africa will acquire the openpit Mapochs mine, in Mpumalanga. The mine supplied ore for the production of steel and vanadium before steel producer Evraz Highveld... 

Municipal power procurement trickier than just getting the go-ahead from Minister

By: Marleny Arnoldi     27th October 2020 Although national government has opened the door for municipalities to procure electricity from independent power producers (IPPs), a lot of "regulatory ironing out" still needs to happen before power purchase agreements (PPAs) can be signed. In May last year, the Energy Minister gave... 

US agency partners with Africa50 to attract capital to the continent

By: Tasneem Bulbulia     27th October 2020 Independent US foreign assistance agency the Millennium Challenge Corporation (MCC) has partnered with infrastructure investment platform Africa50 to create a global investment platform to attract more capital to Africa. The organisations have signed a memorandum of understanding (MoU) to develop... 

Smart mobility plan launched to improve Gauteng transport by 2030 

By: Donna Slater     27th October 2020 The Gauteng MEC for Public Transport and Roads Infrastructure Jacob Mamabolo on October 27 launched the province’s Smart Mobility 2030 Plan, which is a roadmap aimed at addressing the province’s transport challenges. He pointed out that the two biggest challenges in the province are congestion... 

Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor 

By: Martin Creamer     27th October 2020 Leading Fortune 500 global trading and business investment company Sumitomo Corporation, which has a strong focus on the hydrogen economy, has become the latest investor in partnership with venture capital company AP Ventures Fund II. Sumitomo joins cornerstone investors such as South Africa’s... 

Excitement as Sumitomo becomes AP Ventures’ latest hydrogen economy investor
Photo by Creamer Media
Andrew Hinkly

World Bank talks with South Africa stall over State company bailouts 

By: Bloomberg     27th October 2020 The World Bank has told South Africa’s government it has to cut its wage bill to qualify for a loan of as much as $2-billion and agree the money won’t be used to bail out insolvent State companies, a person familiar with the situation said. Those conditions have stalled negotiations on the loan... 

World Bank talks with South Africa stall over State company bailouts

A2X boasts 37 listings after three years

By: Tasneem Bulbulia     27th October 2020 Three years after launching with just three listings and four brokers, South African stock exchange A2X Markets now has 37 securities listed, five of the country’s top six brokers trading on the exchange and a combined market cap of over R2.1-trillion, it acclaimed in an October 27 media release.... 

Gautrain to complete electric bus pilot project by end-2021  

By: Irma Venter     27th October 2020 The Gautrain Management Agency (GMA) is busy with a feasibility study to investigate the possible future use of alternative drivetrains in the Gautrain bus fleet, says GMA COO Tshepo Kgobe. As part of this programme, the GMA expects to complete a pilot project, employing an electric bus, at the... 

Gautrain to complete electric bus pilot project by end-2021
Tshepo Kgobe

Mazars reengineers itself to meet changing market demands

By: Donna Slater     27th October 2020 Tax, audit and advisory firm Mazars has unveiled its new global brand identity in more than 90 countries and territories including South Africa, marking a key milestone in the firm’s evolution. Mazars has been operating in South Africa since 2007 serving large listed, multinational and privately... 

FDI still most important source of external finance, despite decline in 2020 – Unctad

By: Simone Liedtke     27th October 2020 Global foreign direct investment (FDI) flows decreased by 49% year-on-year in the first half of this year as Covid-19-induced lockdowns around the world slowed existing investment projects and the prospects of a deep recession led multinational enterprises (MNEs) to reassess new projects. In a... 

Nasa announces new lunar water discovery

By: Rebecca Campbell     27th October 2020 The US National Aeronautics and Space Administration (Nasa) has announced that the Stratospheric Observatory for Infrared Astronomy (Sofia) has, for the first time, confirmed the existence of water on the sunlit surface of the Moon. This discovery suggests that water may be much more widely... 

Nasa announces new lunar water discovery

Industrial investment will flow if South Africa ‘consistently’ builds 1.6 GW of wind yearly 

By: Terence Creamer     27th October 2020 Leading wind-energy project developers and original equipment manufacturers (OEMs) are convinced that South Africa’s plan to install 1.6 GW of new wind capacity yearly until 2030 is more than sufficient to attract large-scale industrial investment. These captains of industry warn, however, that... 

Industrial investment will flow if South Africa ‘consistently’ builds 1.6 GW of wind yearly

Latest News  by  

more

Company Article

more

Latest Videos and Audio

Medium-term budget highlights

‘Great opportunity’ to tap Mpumalanga’s grid capacity for just transition – IPP Office

On-The-Air (23/10/2020)

Eskom's State of the System briefing

Experts urge govt to prioritise informal-trading-friendly policy

Dwyka Mining Services trials new GPD-denied technology

Cell C showing early signs of recovery, says CEO

On-The-Air (16/10/2020)

more

Manufacturing News

Capital Equipment

Chemicals & Pharmaceuticals

Clothing & Textiles

Food & Beverage

Foundries, Forges & Die-Casting

Furniture & Wood products

Hydraulics

Industrial Filters & Filtration

Instrumentation & Control

Manufacturing

Metals & Engineering

Paper, Plastics, Packaging, Printing

Pipes & Tubes

Pumps

Rubber

Valves

Welding & Cutting

Services News

Architecture

Business Process Outsourcing

Consulting Engineers

Corrosion Control

Education & Skills Development

Financial

Legal

Maintenance

Material Handling

Quality Assurance & Standards

Quantity Surveyors

Company Announcements

more

Research Reports

Projects

more

Press Office

more

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Close