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Covid-19

Wits Basin’s shallow gold reefs to be mined as economic environment creates huge tailwind  

By: Martin Creamer     4th November 2020 New mid-tier gold aspirant Shallow Reefs Gold is in the process of being built in South Africa to mine the shallow reefs of South Africa’s historic Witwatersrand Gold Basin. Shallow Reefs Gold has former Mineral Resources Minister Susan Shabangu and former Exxaro chairperson Sipho Nkosi on board... 

Covid-19 accelerates domestic sustainable finance market – Standard Bank

By: Donna Slater     4th November 2020 The Covid-19 pandemic has heightened the focus on climate change and financial instruments that promote sustainable economic development, Standard Bank group CEO Sim Tshabalala noted in the latest episode of the ClimateBiz podcast series hosted by the International Finance Corporation (IFC). In... 

Economic Reconstruction and Recovery Plan presents opportunity to build a better economy, says Saice

By: Donna Slater     4th November 2020 The Economic Reconstruction and Recovery Plan tabled by President Cyril Ramaphosa in October, provides an opportunity to build a better structured economy, reports South African Institution of Civil Engineering CEO Vishaal Lutchman. Following Ramaphosa’s announcement of the plan, Finance Minister... 

French firms set to make R14bn in fresh investment pledges to South Africa  

By: Terence Creamer     4th November 2020 French Foreign Trade and Economic Attractiveness Minister Franck Riester, who is leading a business delegation to South Africa this week, reports that French firms will follow-up their R20-billion in investment commitments made to South Africa in 2019 with new promises worth a further... 

French firms set to make R14bn in fresh investment pledges to South Africa

Wits develops solution to improve accuracy, safety of Covid-19 testing  

By: Tasneem Bulbulia     2nd November 2020 Containing Covid-19 requires testing of individual and isolating those who test positive, together with recent contacts, to prevent further spread and it is therefore critical to ensure that testing is independently verified to assure its accuracy. Given the urgent need to ramp up testing, a team... 

Wits develops solution to improve accuracy, safety of Covid-19 testing
Professor Bavesh Kana

Aspen enters JV for possible manufacture of Covid-19 vaccine candidate in PE

By: Simone Liedtke     2nd November 2020 Aspen subsidiary Pharmacare, which trades as Aspen Pharmacare, has entered into a preliminary agreement with Janssen Pharmaceuticals and Janssen Pharmaceutica for the technical transfer and proposed commercial manufacture of their Covid-19 vaccine candidate, Ad26.COV2-S. The agreement is still... 

Aspen enters JV for possible manufacture of Covid-19 vaccine candidate in PE
Aspen's existing sterile facility in Port Elizabeth.

B4SA calls for TERS benefit to ‘be retained’ under Level 1 lockdown

By: Simone Liedtke     2nd November 2020 Business for South Africa (B4SA) has requested a decision reversal following President Cyril Ramaphosa and the National Coronavirus Command Council’s decision to halt the Covid Temporary Employer/Employee Relief Scheme (TERS) benefit. B4SA says that, “if government believes the remaining Level 1... 

AngloGold’s free cash soars 290%, dividend payout ratio doubled 

By: Martin Creamer     2nd November 2020 Gold mining company AngloGold Ashanti on Monday delivered a near fivefold increase in free cash flow in the third quarter of 2020, which has resulted in the company’s adjusted net debt falling to its lowest level in almost a decade and supporting the decision to double its dividend payout ratio.... 

AngloGold’s free cash soars 290%, dividend payout ratio doubled
AngloGold Ashanti interim CEO Christine Ramon

Fresh moves under way to address debt albatross at lossmaking Eskom 

By: Terence Creamer     30th October 2020 Public Enterprises Minister Pravin Gordhan said on Friday that a “second round” of work is being initiated in an effort to find a solution to Eskom’s unsustainable debt burden in line with the recent social compact between government, community, labour and business to “mobilise funding to address... 

Fresh moves under way to address debt albatross at lossmaking Eskom
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

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

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

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... 

How the virus worsened South Africa’s debt woes

By: Bloomberg     27th October 2020 South Africa is faces surging debt as the havoc wrought by the coronavirus pandemic compounds a deterioration in public finances caused by overspending, mismanagement and alleged graft during former President Jacob Zuma’s nine-year rule. After cutting borrowing during years of strong economic... 

How the virus worsened South Africa’s debt woes

IDC aims to ‘catalyse’ recovery plan, but won’t go it alone as impairments bite 

By: Terence Creamer     26th October 2020 The Industrial Development Corporation (IDC) – which reported a R3.8-billion loss for the 2019/20 financial year, driven by a surge in impairments from R4.8-billion to R9.6-billion – has revised its investment strategy with the aim of “catalysing” government’s Reconstruction and Recovery Plan... 

IDC aims to ‘catalyse’ recovery plan, but won’t go it alone as impairments bite
Photo by Creamer Media's Donna Slater
IDC CEO TP Nchocho

Adapt IT says records resilient results despite pandemic headwinds

By: Tasneem Bulbulia     26th October 2020 JSE-listed Adapt IT CEO Sbu Shabalala says the company remained resilient during the financial year ended June 30 in a period dominated by global macroeconomic challenges and the Covid-19 pandemic, owing to its sound underlying business model of providing mission critical software to its clients... 

Famous Brands incurs interim loss as a result of Covid-19 restrictions

By: Tasneem Bulbulia     26th October 2020 The negative financial impact of the Covid-19 pandemic and resultant restrictions have been extremely severe, food services franchiser Famous Brands CEO Darren Hele said in an October 26 statement of the group’s results for the six months ended August 31. The group’s vertically integrated... 

Budget policy critical to economic recovery from Covid-19, says BLSA

By: Donna Slater     26th October 2020 This week is an important one in that South Africa’s Medium-Term Budget Policy Statement (MTBPS) will be presented by Finance Minister Tito Mboweni on October 28, having the potential to support a recovery in business sentiment leading to a recovery in growth and employment, says Business... 

Eskom's State of the System briefing 

23rd October 2020 Eskom delivered its State of the System briefing this week. Engineering News editor Terence Creamer attended the session and unpacks the prognosis for electricity supply for the summer months. 

Eskom's State of the System briefing
Eskom's State of the System briefing

The Wine Farmer project launched to combat damaging effects of lockdown on industry

By: Simone Liedtke     23rd October 2020 The Southern African Agri Initiative (Saai) has launched a new wine marketing project, The Wine Farmer, which is an online wine shop aimed at making family farm wines available to consumers across South Africa at cellar door prices. The project is based at the Marianne Wine Estate, in Stellenbosch. 

The Wine Farmer project launched to combat damaging effects of lockdown on industry

Redefine diversifies into Polish logistics market

By: Simone Liedtke     23rd October 2020 Despite sentiment towards global real estate having fallen sharply, the outlook for the Polish logistics sector has improved significantly as a result of Covid-19, says Redefine Europe CEO Pieter Prinsloo. Speaking during real estate investment trust (Reit) Redefine Properties’ Polish market... 

Afreximbank ready to raise up to $5bn for Covid-19 vaccines for Africa - CDC head

By: Reuters     22nd October 2020 The African Export Import Bank is ready to raise up to $5-billion to purchase COVID-19 vaccines for African countries, the head of the continent’s disease control body told Reuters on Thursday. John Nkengasong, head of the Africa Centres for Disease Control and Prevention (CDC), said Africa needs... 

Procurement of 11.8 GW only the ‘first step’ in full elimination of load-shedding threat – De Ruyter 

By: Terence Creamer     22nd October 2020 State-owned power utility Eskom, which is ramping up the maintenance of its unreliable and unpredictable coal power stations, anticipates that there will be a ‘step change’ in the performance of the fleet from April 2021, but has also warned that the risk of load-shedding will persist until at... 

Procurement of 11.8 GW only the ‘first step’ in full elimination of load-shedding threat – De Ruyter
Photo by Creamer Media's Donna Slater
CEO Andre de Ruyter and COO Jan Oberholzer

Solidarity Fund marks progress

By: Tasneem Bulbulia     22nd October 2020 The Solidarity Fund says that, while there will be a time when its work will no longer be needed, that time has not come yet and, until it does, the fund will continue to work with partners and stakeholders to support the country. As of October 15, the fund had received more than R3.12-billion of... 

Covid has highlighted the value of operating remotely – mining editor 

By: Martin Creamer     22nd October 2020 The extraction of data from machinery to improve decision-making is a key benefit of the digital mine and has changed the way that mines manage their assets and perform machine maintenance, Australia Mining managing editor Ben Creagh said on Wednesday. Creagh was speaking during a virtual... 

Covid has highlighted the value of operating remotely – mining editor
ifm Australia’s Freddie Coertze and Aditya Kunder.

Boeing, University of Arizona, confirm disinfecting methods kill Covid-19 in airliners

By: Rebecca Campbell     22nd October 2020 A joint test programme by US aerospace giant Boeing and the University of Arizona has confirmed that the anti-Covid-19 cleaning methods used by airlines are effective and do kill the SARS-CoV-2 coronavirus that causes the disease. The unprecedented tests were carried out during the northern... 

Law to overhaul corruption-prone public procurement still some way off  

By: Terence Creamer     21st October 2020 The National Treasury is preparing sweeping legislative changes to the way procurement, which has become highly prone to corruption, is undertaken by public entities, including State-owned companies. It has indicated, however, that the new legal framework is likely to be passed by Parliament only... 

Law to overhaul corruption-prone public procurement still some way off

Western Cape's Maynier wants Covid-19 travel 'red list' scrapped

By: News24Wire      21st October 2020 The Western Cape government wants the Covid-19 travel "red list" scrapped because it is killing international tourism. "We are fighting hard to have this list scrapped," said Finance MEC David Maynier during a hybrid sitting of the Western Cape legislature. 

Western Cape's Maynier wants Covid-19 travel 'red list' scrapped

Platinum well positioned in hydrogen economy’s sweet spots – WPIC  

By: Martin Creamer     21st October 2020 The upcoming platinum demand of Hyundai alone could come close to taking up the total annual production of one of South Africa’s biggest platinum mines. Hyundai has stated categorically, in a double-page advertisement in The Economist of London, that it will be making 700 000 fuel cell stacks a... 

Platinum well positioned in hydrogen economy’s sweet spots – WPIC
World Platinum Investment Council research director Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Massive grid investment needed to unlock IRP’s 30GW-by-2030 vision  

By: Terence Creamer     20th October 2020 State-owned electricity utility Eskom is warning that a significant and accelerated expansion of South Africa’s grid infrastructure, beyond that catered for by its current R118-billion investment plan to 2030, is required to integrate the 30 GW of mainly wind and solar generators that will have... 

 Massive grid investment needed to unlock IRP’s 30GW-by-2030 vision

South Africa investigates Covid-19 contracts for corruption

By: Reuters     20th October 2020 South African investigators are investigating R10.5-billion of the government's coronavirus spending for corruption, more than double the amount they were investigating two months ago, they told parliament on Tuesday. President Cyril Ramaphosa has promised that corruption during the COVID-19... 

40 MW solar power application making good progress ­– Gold Fields  

By: Martin Creamer     20th October 2020 The application for the establishment of a 40 MW solar power plant at the South Deep gold mine in western Gauteng is in process and making good progress, Gold Fields CEO Nick Holland said on Monday. Responding to Mining Weekly during the Johannesburg- and New York-listed company’s virtual... 

40 MW solar power application making good progress ­– Gold Fields
Gold Fields ESG presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

High risk countries list revised, three month stay period allowed 

By: Thabi Madiba     19th October 2020 The South African government on Monday issued the revised list of high risk countries, saying it will allow visitors hoping to stay in the country for a period of three months or more, subject to Coronavirus protocols.  The list was revised based on a risk categorisation model, balancing saving... 

South Africa is well positioned to export green hydrogen ­– PwC  

By: Martin Creamer     19th October 2020 South Africa is in an extraordinary position to revolutionise its own economy and supply green hydrogen to the world, PwC said on Monday. “The energy transition is and will be biggest global theme this decade,” PwC associate director James Mackay told journalists at a virtual event covered by... 

South Africa is well positioned to export green hydrogen ­– PwC
PwC Hydrogen Report 2020 covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Economic recovery plan will protect jobs in vulnerable sectors - Ramaphosa 

By: Sane Dhlamini     19th October 2020 President Cyril Ramaphosa has assured South Africans that the economic recovery plan he presented last week will protect jobs in vulnerable sectors that have been hit hard by the coronavirus pandemic. The Presidential Employment Stimulus announced last week involves a public investment of... 

Economic recovery plan will protect jobs in vulnerable sectors - Ramaphosa
President Cyril Ramaphosa

Hydrogen fast-tracking will be much quicker than imagined – Sibanye-Stillwater  

By: Martin Creamer     19th October 2020 The fast-tracking of the hydrogen economy will be much quicker than most people have imagined, Sibanye-Stillwater CEO Neal Froneman said at the Financial Times (FT) Commodities Mining Summit, where he was part of a panel that included Anglo American Platinum CEO Natasha Viljoen and South32 CEO... 

Hydrogen fast-tracking will be much quicker than imagined – Sibanye-Stillwater
Financial Times Commodities Mining Summit covered by Mining Weekly’s Martin Creamer.

Business welcomes recovery plan, but urges swift implementation 

16th October 2020 Organised business formations have responded to the Reconstruction and Recovery Plan released by President Cyril Ramaphosa on October 15. On the whole, business has welcomed the plan, including the fact that it embraces many of the recommendations made to government by the social partners through... 

Business welcomes recovery plan, but urges swift implementation
President Cyril Ramaphosa

S Africa must put into effect revenue collection – Haroon Bhorat 

By: Sane Dhlamini     16th October 2020 University of Cape Town Professor Haroon Bhorat said on Friday that for South Africa to manage its deficit going forward, apart from hoping that growth gets kickstarted in the remaining part of the year, it has to move quickly in effecting revenue collection. Bhorat, who is also a member of... 

S Africa must put into effect revenue collection – Haroon Bhorat
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