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Covid-19

Gold price exceeding $2 000/oz would not surprise me – Dushnisky 

By: Martin Creamer     11th May 2020 There is every chance that the gold price could exceed $2 000/oz, said AngloGold CEO Kelvin Dushnisky on Monday. Answering journalists’ questions during a virtual media roundtable, Dushnisky said that a gold price higher than $2 000/oz would not come as a surprise to him at all. 

People need to adapt to new normal or risk mental health fallout

By: Donna Slater     11th May 2020 People around the world are facing unprecedented challenges as a result of the outbreak of Covid-19, with many working from home or in different and unfamiliar environments that have been adapted to be safe while the disease spreads. This is resulting in an increasing number of mental health... 

Mechanism in place to repatriate $252m from DRC – AngloGold 

By: Martin Creamer     11th May 2020 A mechanism is in place to repatriate $252-million from the Democratic Republic of Congo (DRC), AngloGold Ashanti CEO Kelvin Dushnisky said on Monday. The Johannesburg- and New York-listed company drew attention to the outstanding cash balances awaiting repatriation from the DRC in a first... 

Mechanism in place to repatriate $252m from DRC – AngloGold
The Kibali gold operation in Dempcratic Republic of Congo.

Packaging industry likely to face dramatic changes, says MetPac-SA

By: Marleny Arnoldi     11th May 2020 Industry organisation MetPac-South Africa (MetPac-SA) says the five-week national Level 5 lockdown in South Africa had constrained the usual material recovery processes and will impact on the recovery rates of metal packaging, and post-consumer packaging material in general, for the rest of the... 

Packaging industry likely to face dramatic changes, says MetPac-SA

BCCEI extends admin and levy waiver to May

By: Marleny Arnoldi     11th May 2020 The Bargaining Council for the Civil Engineering Industry (BCCEI) had taken an unprecedented step in April when it announced that it would waive the BCCEI administration and dispute levy contributions for that month. In bringing further relief to an already ailing industry sector, the BCCEI has... 

NSBC urges big business, govt to continue paying SMEs during Covid-19

By: Simone Liedtke     11th May 2020 Covid-19 and the economic downturn has and will continue to have a “devastating” impact on the small- and medium-sized enterprise (SME) sector throughout South Africa, the National Small Business Chamber (NSBC) founder and CEO Mike Anderson laments. In a statement on May 11, he again implored big... 

NSBC urges big business, govt to continue paying SMEs during Covid-19
NSBC founder and CEO Mike Anderson

Mistra celebrates 10 years

By: Sane Dhlamini     11th May 2020 The Mapungubwe Institute for Strategic Reflection (Mistra) has hit ten years of independence and transdisciplinary research. Since May 2010, after much consultation, Mistra was founded by a group of researchers, academics, policymakers and former policy practitioners which created a platform to... 

Mistra celebrates 10 years
Mapungubwe Institute for Strategic Reflection executive director, Joel Netshitenzhe

Recession expected to have severe impact on tenant payment performance

By: Simone Liedtke     11th May 2020 Financial services provider First National Bank (FNB) expects “a very significant” deterioration in residential rental tenant payment performance for this year, with a recession more severe than that of 2008/9 expected for this year. While the tenant performance deterioration in response to an... 

Television White Spaces network operators can now use CSIR’s geolocation spectrum database

By: Simone Liedtke     11th May 2020 In the wake of the Covid-19 pandemic, and in line with the Independent Communications Authority of South Africa’s (Icasa’s) request, the Council for Scientific and Industrial Research (CSIR) has invited interested Television White Spaces (TVWS) network operators to use its Secondary Geo-Location... 

Television White Spaces network operators can now use CSIR’s geolocation spectrum database

SAA rescue team to appeal court ruling on layoffs 

By: Reuters     11th May 2020 Administrators trying save South African Airways will appeal a court ruling that ordered them to halt a layoff process, one of the administrators Siviwe Dongwana told Reuters. The Labour Court's decision to side with two trade unions in its judgment on Friday was a major blow to the... 

SAA rescue team to appeal court ruling on layoffs

Samed urges vigilance in acquiring quality PPE

By: Donna Slater     11th May 2020 The outbreak of Covid-19 in South Africa and the consequent rapid requirement for bulk personal protective equipment (PPE) supply, has led to an influx of PPE products from many suppliers and distributors, thereby raising quality and functionality concerns by the healthcare industry and, in... 

Pan African lifts Covid help to R5m, recalls workers, unhedges

By: Martin Creamer     11th May 2020 Gold mining company Pan African Resources stated on Monday that it had increased its Covid-19 assistance to R5-million, recalled its permitted employees, updated production guidance and removed hedging from the end of June. Headed by CEO Cobus Loots, the London- and Johannesburg-listed company... 

Pan African lifts Covid help to R5m, recalls workers, unhedges
Photo by Creamer Media
Pan African's Fairview gold operation.

VWSA lost 17 000 units owing to lockdown; restarts production 

By: Irma Venter     11th May 2020 Volkswagen Group South Africa (VWSA) has lost production of around 17 000 vehicles at its Uitenhage plant, in the Eastern Cape, owing to the national Covid-19 lockdown, says chairperson and MD Thomas Schäfer. The plant produces the Polo hatchback for the local and global export markets, with the... 

VWSA lost 17 000 units owing to lockdown; restarts production
Thomas Schäfer

Ramaphosa urges citizens to prepare for ‘new reality’ where Covid-19 fight is part of daily existence  

By: Thabi Madiba     11th May 2020 President Cyril Ramaphosa on Monday warned South Africans that they may have to prepare for a new reality in which the fight against coronavirus will be a part of daily life. The total number of confirmed Covid-19 cases now stands at 10 015 with a death toll of 194. He added South Africans should... 

Ramaphosa urges citizens to prepare for ‘new reality’ where Covid-19 fight is part of daily existence
President Cyril Ramaphosa

AngloGold cash flow soars 231%, liquidity boosted to $2bn

By: Martin Creamer     11th May 2020 Gold mining company AngloGold Ashanti more than trebled first-quarter cash flow from operating activities, bolstered its available liquidity to more than $2-billionn and improved leverage as key mines delivered solid performances. The Johannesburg- and New York-listed company, headed by CEO... 

AngloGold cash flow soars 231%, liquidity boosted to $2bn
AngloGold Ashanti CEO Kelvin Dushnisky

Economist calls on govt to top up stimulus package

By: Thabi Madiba     8th May 2020 Economist Duma Gqubule has urged government to top up its current stimulus package in the face of lockdown measures which he says has brought the economy to a standstill and caused the unemployment rate to skyrocket. Last month President Cyril Ramaphosa announced an extraordinary coronavirus... 

Economist calls on govt to top up stimulus package

Donations close supply gap for PPE in fight against Covid-19

By: Tasneem Bulbulia     8th May 2020 The Solidarity Fund, working with Business for South Africa (B4SA), has helped secure 100% of the N95 masks and nearly 80% of the surgical masks required in terms of weekly demand ahead of the expected surge in Covid-19 cases. The successful procurement of this essential personal protective... 

Even developed economies will take time to recover from Covid-19 impact

By: Marleny Arnoldi     8th May 2020 Asset manager Investec says a meaningful recovery from recession internationally and locally will depend on the rapidity of exit from lockdown restrictions, broad-based support measures and a substantial easing in red tape where it is prevalent. An economic consensus forecast done by the... 

Global oil production to see considerable cuts – IHS Markit

By: Tasneem Bulbulia     8th May 2020 The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, the latest assessment on oil markets by London-based global information provider IHS Markit’s Crude Oil Market Service shows. IHS Markit now... 

CCMA to publish directive on its new way of working by May 9

By: Marleny Arnoldi     8th May 2020 The Commission for Conciliation, Mediation and Arbitration (CCMA) will, by May 9, publish new directives on the way it will operate going forward. CCMA director Cameron Sello Morajane in a live social media broadcast on May 8 confirmed that the commission would, in the week ending May 15, be... 

CCMA to publish directive on its new way of working by May 9

Digital solutions could improve return-to-work, staff permit processes

By: Donna Slater     8th May 2020 With the national lockdown having transitioned from Level 5 to 4 at the beginning of May, many employees are returning to work, posing challenges for employers to ensure their staff can safely and easily return to work. One of the requirements is a permit and digital employee engagement company... 

As opposition to Level 4 grows, economists debate easing options 

By: Terence Creamer     8th May 2020 With the opposition to South Africa’s Level 4 lockdown growing, along with calls for increasing the scope and scale of economic activity, several economic commentators are urging the authorities to take lessons from those countries that have already started to emerge from lockdowns and adapt them... 

As opposition to Level 4 grows, economists debate easing options

Covid-19 pandemic underscores the need for inclusive growth

By: Tasneem Bulbulia     8th May 2020 The Covid-19 pandemic has caused a crisis worldwide, bringing into sharp focus and exacerbating the inequalities present in countries; however, it also presents opportunities to create more inclusive growth as the world moves forward. During a webcast hosted by professional services firm Deloitte... 

Lockdown: Obey the rules or face closure, Makhura warns businesses  

By: News24Wire      8th May 2020 Gauteng premier David Makhura has threatened to close all businesses in the province that fail to comply with Level 4 lockdown regulations. Makhura also warned that he would shut down companies if workers test positive for Covid-19 during the Level 4 lockdown. 

Lockdown: Obey the rules or face closure, Makhura warns businesses
Gauteng Premier David Makhura

Mchunu urges public servants to be ambassadors of govt as they return to work 

By: Sane Dhlamini     8th May 2020 For government to facilitate the unlocking of the economy more public servants need to return to work and while they do so, they should remain ambassadors for government as the country fight the coronavirus. Minister for Public Service and Administration Senzo Mchunu on Friday unpacked his... 

Mchunu urges public servants to be ambassadors of govt as they return to work
Minister for Public Service and Administration Senzo Mchunu

Business adaptation key to post-Covid-19 success − Kearney

By: Donna Slater     8th May 2020 As Covid-19 restrictions and fear put a strain on businesses and the economy, management consulting firm Kearney Africa MD Theo Sibiya believes the survival of many companies is going to depend on their capacity to build resilience in order to remain sustainable. In its sixth week of lockdown,... 

Paramount Group donates face masks to SANDF

By: Donna Slater     8th May 2020 Aerospace and defence company Paramount Group has donated 1 000 facial masks to the South Africa National Defence Force (SANDF) as part of its continued effort to provide personal protective equipment (PPE) to those working on the front lines of the international fight against the Covid-19... 

Auto exports broke several records pre-Covid-19, says Lamprecht 

By: Irma Venter     8th May 2020 The nearly 100% decline in April new-vehicle sales and export figures serves as barometer of the impact of Covid-19 on the domestic automotive industry and the economy at large, says National Association of Automobile Manufacturers of South Africa and Automotive Industry Export Council executive... 

Auto exports broke several records pre-Covid-19, says Lamprecht
Norman Lamprecht

Industry association supports government proposals for nuclear power

By: Rebecca Campbell     8th May 2020 The Nuclear Industry Association of South Africa (Niasa) on May 8 welcomed the presentation by Minerals Resources and Energy Minister Gwede Mantashe, and officials of his department, to Parliament on May 7. This included a commitment to develop a roadmap for a programme to build new nuclear power... 

Africa’s wealthiest city says one-million people need food aid

By: Bloomberg     8th May 2020 Almost one million people in Johannesburg, South Africa’s commercial hub, are in need of food aid due to movement restrictions imposed to curb the coronavirus pandemic, according to its mayor. While South Africa has less than 9,000 infections, it’s still one of the highest numbers on the... 

Fasken unpacks the legalities for companies switching to ventilator production

By: Marleny Arnoldi     8th May 2020 The shortage of ventilators during the Covid-19 pandemic has seen many manufacturing companies move from their traditional industries to the life sciences industry and, specifically, the manufacture of ventilators. International business law firm Fasken says that, for traditional industries... 

Fasken unpacks the legalities for companies switching to ventilator production

Coronavirus came from bats, can infect cats, ferrets, WHO says

By: Bloomberg     8th May 2020 A World Health Organization scientist said Covid-19 comes from bats and can spread among cats amid an international debate about the virus’s origin. The novel coronavirus comes from a group of viruses that originate or spread in bats, and it’s still unclear what animal may have transmitted the... 

Kaspersky provides free parental control as child Internet use doubles

By: Schalk Burger     8th May 2020 As more children are using the Internet while under lockdown, cybersecurity multinational Kaspersky is offering free use of its Safe Kids parental control feature for three months. Kaspersky Network Child Safety head Andrey Sidenko says it is crucial to help a child to navigate through the... 

Lion ferrochrome smelter, Eastern Chrome mines restart – Merafe 

By: Martin Creamer     8th May 2020 Operations at the Lion ferrochrome smelter and Eastern Chrome mines of the Glencore Merafe Chrome Venture have recommenced, but the Boshoek, Rustenburg, Wonderkop, Lydenburg smelters and Kroondal mine will remain on care and maintenance until the macroeconomic environment improves, Merafe... 

Lion ferrochrome smelter, Eastern Chrome mines restart – Merafe
Photo by Creamer Media
The Lion ferrochrome plant, which uses 37% less electricity.

Sapma appeals to government to allow paint contractors to resume business

By: Donna Slater     8th May 2020 The South African Paint Manufacturing Association (Sapma) urges the government to allow paint contractors to not only carry out emergency projects, but also other contracts for external surface renovations and coatings. In terms of Level 4 stipulations, paint producers and coatings raw material... 

Sapma appeals to government to allow paint contractors to resume business

SAA to continue operating repatriation and cargo flights

By: Rebecca Campbell     8th May 2020 State-owned national flag carrier South African Airways (SAA) has assured that it had no plans to stop operating on May 8. It would continue to honour all its current commitments to provide air transport services to its customers, as well as any other requests that it might receive. It continued... 

TERS payments reach R9.47bn 

By: Donna Slater     8th May 2020 The Department of Employment and Labour reports that, as at May 8, the Unemployment Insurance Fund (UIF), had disbursed about R9.47-billion through the Covid-19 Temporary Employer/Employee Relief Scheme (TERS), benefitting 1.94-million workers. Employment and Labour Minister Thulas Nxesi says... 

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