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Latest News

Balwin defers full-year dividend

By: Tasneem Bulbulia     18th May 2020 JSE-listed Balwin Properties has decided to defer the declaration of a dividend for the financial year ended February 29. This follows careful consideration of current market conditions and the uncertainty surrounding the continued impact of Covid-19 and its implications on the cash resources of... 

REIPPPP projects to resume development

By: Donna Slater     18th May 2020 Law firm Fasken reports that Covid-19 lockdown regulations enforced with the commencement of the national lockdown on March 26, which restricted the operation of a number of industries in an effort to curb the spread of the virus, have been clarified with the publication of the latest directions... 

Platinum group metals prices fall but markets tight – Johnson Matthey 

By: Martin Creamer     18th May 2020 Platinum group metals (PGM) supply and demand will be severely impacted by the Covid-19 pandemic, as national lockdowns hit auto production as well as South African mine output, Johnson Matthey said on Monday. Autocatalyst use was expected to fall by at least 15% to 20% and PGM supply by more... 

Platinum group metals prices fall but markets tight – Johnson Matthey
Photo by Creamer Media
Johnson Matthey principal analyst Alison Cowley

Massmart reports lower sales owing to Covid-19

By: Simone Liedtke     18th May 2020 South Africa’s Covid-19 lockdown had a significant impact on normal trading patterns for wholesale and retail group Massmart, with total sales for the 19 weeks ended May 10, amounting to R28.2-billion, or 11.9% lower than the same period last year. Comparable store sales for this period were... 

WSP says light industrial property has room for innovation

By: Marleny Arnoldi     18th May 2020 Professional services firm WSP says it is not all doom and gloom in the property sector, especially not in the light industrial property space. The firm adds that it is often darkest before the light and some of the most difficult periods have led to great innovations, new approaches and... 

Calgro says generates sufficient cash to weather Covid-19, settle some debt

By: Marleny Arnoldi     18th May 2020 Property investment company Calgro M3 CEO Wikus Lategan says the company has made good progress on turning the business around, with cash generated from operations having increasing by 55.6% year-on-year to R464-million in the year ended February 29. This helped the company settle R52-million... 

Eskom describes Nersa’s treatment of coal costs in latest RCA claim as ‘significant shift’ 

By: Terence Creamer     18th May 2020 State-owned electricity group Eskom says the National Energy Regulator of South Africa’s (Nersa’s) latest regulatory clearing account (RCA) determination for the 2018/19 financial year contains “some encouraging decisions”, highlighting its treatment of coal costs as representing a particularly... 

Eskom describes Nersa’s treatment of coal costs in latest RCA claim as ‘significant shift’

Christiaan De Wet road temporarily closed for urgent rehabilitation

By: Tasneem Bulbulia     18th May 2020 The Johannesburg Roads Agency (JRA) has closed off a section of Christiaan de Wet road, after the road subsided as a result of damaged stormwater infrastructure. The left lane of the road behind Clearwater Shopping Mall, towards Ontdekkers road, has been closed off to traffic as of May 17, until... 

Growthpoint’s Exxaro HQ development receives Africa’s first WELL certification

By: Tasneem Bulbulia     18th May 2020 Property developer Growthpoint Properties has developed the first building in Africa to achieve a WELL certification, receiving. The Growthpoint-developed Exxaro headquarters in Pretoria, an 18 500 m2 office building opposite the Centurion Gautrain Station, has been awarded a Silver Level WELL... 

Growthpoint’s Exxaro HQ development receives Africa’s first WELL certification
Exterior

ACSA warns of Covid-19 impacts and that it might need government guarantees

By: Rebecca Campbell     18th May 2020 The State-owned Airports Company South Africa (ACSA) has warned the Parliamentary Portfolio Committee on Transport that the effects of the Covid-19 pandemic and the efforts to counter it would significantly affect it. The company’s Corporate Plan for the 2020/2021 to 2022/2023 financial years had... 

Uitkomst mine ramps up to strong customer demand for its met coal 

By: Martin Creamer     18th May 2020 The mechanised Uitkomst Colliery has successfully ramped-up production to the stipulated 50% labour capacity level since recommencing operations, MC Mining said on Monday. In a market update on the impact on the company of the Covid-19 pandemic, MC Mining stated that it remained focused on taking... 

Uitkomst mine ramps up to strong customer demand for its met coal
Uitkomst Colliery

Astral Foods reports marginal increase in interim profit

By: Donna Slater     18th May 2020 Poultry producer Astral Foods' revenue for the six months ended March 31 increased by 4% year-on-year to R7.06-million, primarily as result of the increase in poultry’s external revenue, which contributed 79% to the consolidated revenue. Operating profit, at R546-million, increased by 8.5%... 

Competition Commission issues Price Discrimination and Buyer Power Guidelines

By: Simone Liedtke     18th May 2020 The Competition Commission has issued the Price Discrimination and Buyer Power Guidelines, which are aimed at achieving more fairness for emerging entrepreneurs and small businesses. The objective of the buyer power provisions is to enhance the participation of small and medium-sized enterprises... 

Glencore Coal donating food to Mpumalanga communities

By: Martin Creamer     18th May 2020 Glencore group company Glencore Coal had, at the time of Mining Weekly going to press, distributed more than 1 250 food parcels worth over R658 000 to the communities of Mpumalanga, as part of its ongoing response to the Covid-19 pandemic. Last month, the London- and Johannesburg-listed Glencore... 

Glencore Coal donating food to Mpumalanga communities
Glencore Coal's food parcels for distribution to vulnerable communities.

Renewables critical to reducing South Africa’s economic, energy constraints

By: Simone Liedtke     18th May 2020 South Africa’s energy demand “will grow exponentially” as South Africa further eases Covid-19-related restrictions and the strain on electricity supply experienced prior to the pandemic will likely return. This “will have massive implications” and likely have a compounding effect as the country... 

Renewables critical to reducing South Africa’s economic, energy constraints

Planned move to Level 3 lockdown positive, but longer-term foresight urgently needed

By: Donna Slater     18th May 2020 The National Economic Development and Labour Council (Nedlac) reports that its constituencies are working sectorally and collectively to migrate South Africa to Level 3 of the national lockdown. President Cyril Ramaphosa addressed the nation on May 13, stating that lockdown regulations would be... 

Planned move to Level 3 lockdown positive, but longer-term foresight urgently needed
Photo by Creamer Media's Donna Slater
BLSA CEO Busi Mavuso

Kibo Energy inks power purchase agreement with Baobab Resources

By: Donna Slater     18th May 2020 Africa-focused Kibo Energy has signed a binding term sheet with mining company and steelmaker Baobab Resources to supply 200 MW of energy to Baobab's Tete Steel and Vanadium (TSV) project, in Mozambique. 
 
Recognised as a key development project in Mozambique, the TSV project is about 36 km from... 

IDC CFO Dlamini resigns

By: Donna Slater     18th May 2020 Nonkululeko Dlamini has resigned as CFO of the Industrial Development Corporation (IDC). She will serve out her notice period until July.  

Unions attack SAA business rescue practitioners, management 

By: Rebecca Campbell     18th May 2020 Three unions representing employees of financially embattled State-owned national flag carrier South African Airways (SAA) have attacked the airline’s business rescue practitioners (BRPs) and its senior management. They are the National Union of Metalworkers of South Africa (Numsa), the SAA... 

Creecy takes decisive action against Eskom’s noncompliance at Kendal

By: Marleny Arnoldi     18th May 2020 The Centre for Environmental Rights (CER) has welcomed the decisive action taken against Eskom’s Kendal power station by Environment, Forestry and Fisheries Minister Barbara Creecy. The Minister has ordered the State-owned power utility to, within 30 days, stop operations at either Unit 1 or... 

Creecy takes decisive action against Eskom’s noncompliance at Kendal
Photo by Creamer Media's Donna Slater
Environment, Forestry and Fisheries Minister Barbara Creecy

International students in Germany offered interest-free loans

By: Sane Dhlamini     18th May 2020 The German government has offered almost 400 000 international students, who are enrolled in German universities, an interest-free education loan programme, to ensure the continuity of their studies amid the coronavirus pandemic. Due to Covid-19, many students have lost their jobs which allowed... 

International students in Germany offered interest-free loans

FNB pays out R100m worth of credit insurance claims by June

By: Marleny Arnoldi     18th May 2020 First National Bank (FNB) expects to pay out about R100-million worth of credit life insurance claims by June, for customers whose finances have been negatively impacted by Covid-19. The insurance provider division of FNB, FNB Life, previously announced relief measures for customers including... 

FNB pays out R100m worth of credit insurance claims by June

Total pulls out of deal to buy Anadarko’s Ghana assets

By: Marleny Arnoldi     18th May 2020 Petrochemicals company Total has decided to not proceed with the acquisition of hydrocarbon exploration company Anadarko Petroleum Corporation’s assets in Ghana. Total's decision was based on the "extraordinary market environment" and the lack of visibility about the group's prospects, as well... 

South Africans have a right to approach courts during lockdown – Ramaphosa 

By: Thabi Madiba     18th May 2020 President Cyril Ramaphosa on Monday stated that while government would prefer to avoid the need for any legal action against it, South Africans who are unhappy with government regulations guiding the national lockdown have a right to approach the courts for any form of relief they seek. He said... 

South Africans have a right to approach courts during lockdown – Ramaphosa
President Cyril Ramaphosa

Minister, MECs commit to post-Covid-19 recovery plan for the tourism sector

By: Yvonne Silaule     18th May 2020 Tourism Minister Mmamoloko Kubayi-Ngubane and tourism sector MECs on Friday committed to creating a post-Covid-19 recovery plan for the sector, which has been severely impacted by restrictions implemented to curb the spread of Covid-19. The Minister and MECs discussed this during an emergency... 

Minister, MECs commit to post-Covid-19 recovery plan for the tourism sector
Tourism Minister Mmamaloko Kubayi-Ngubane

African car market can grow despite Covid-19, says AAAM’s Coffey 

By: Irma Venter     18th May 2020 Despite the Covid-19 pandemic, new-vehicle sales in sub-Saharan Africa can grow from around 100 000 a year, outside South Africa, to around two-million a year in the next 15 years – and this is a “very, very conservative” estimate, says African Association of Automotive Manufacturers (AAAM) CEO... 

African car market can grow despite Covid-19, says AAAM’s Coffey

Small modular nuclear reactors would be beneficial for South Africa, says industry body

By: Rebecca Campbell     18th May 2020 The Nuclear Industry Association of South Africa (Niasa) has highlighted the advantages that small modular reactors (SMRs) offer to, and the potential they provide for, the country. SMRs are nuclear reactors with a capacity of less than 300 MW, and, as electricity demand increases, the number of... 

Huge to report increased year-end earnings

By: Creamer Media Reporter      18th May 2020 JSE-listed Huge Group expects an increase in earnings across the board for the year ended February 29. The company expects earnings per share (EPS) and headline earnings per share (HEPS) to increase 0% to 5% year-on-year. 

Renewables embrace lifts Namibia’s energy optimism

By: Martin Creamer     18th May 2020 With the recently introduced reforms in Namibia’s renewable energy sector and the growing presence and entry of international oil companies into the hydrocarbons sector, Namibia Mines and Energy Minister Tom Alweendo on Friday expressed optimism about the country’s energy future. Namibia, which... 

Renewables embrace lifts Namibia’s energy optimism
Namibia Mines and Energy Minister Tom Alweendo

Nersa allows Eskom to claw back R13.3bn in tariffs 

By: Reuters     18th May 2020 South African energy regulator Nersa said on Friday it will allow utility Eskom to recover R13.3-billion from customers for electricity supplied in the 2018/19 financial year, lower than what the state-owned power utility had applied for. Nersa said in a statement it will give its reasons for the... 

Nersa allows Eskom to claw back R13.3bn in tariffs

Covid-19 impact on platinum market less than expected – WPIC 

By: Martin Creamer     18th May 2020 While the Covid-19 pandemic has had a major negative effect on the platinum market — including price, demand and supply — the results for the first quarter of 2020 show the net effect is less than feared, and the outlook for 2020 is better than expected, the World Platinum Investment Council... 

Covid-19 impact on platinum market less than expected – WPIC
Surging demand for platinum bar and coin.

Minister, premier, Implats meet on Limpopo Covid detection

By: Martin Creamer     17th May 2020 Mineral Resources and Energy Minister Gwede Mantashe on Sunday convened an urgent meeting with the Limpopo Provincial Government, led by Premier Stanley Mathabatha, and Impala Platinum (Implats) Marula mine management, following confirmation of a cluster of Covid-19 cases being detected in and... 

Minister, premier, Implats meet on Limpopo Covid detection
Marula Platinum process plant

Implats suspends Marula after detecting 19 positive Covid cases

By: Martin Creamer     16th May 2020 Platinum group metals mining company Implats on Saturday confirmed that a cluster of positive Covid-19 cases had been detected in and around its Marula operation in Limpopo province following stringent and comprehensive screening, testing and tracing protocols. The JSE-listed company said it had... 

Implats suspends Marula after detecting 19 positive Covid cases
The Marula platinum mining operation in Limpopo.

Gordhan and SAA business rescue practitioners trade barbs over rescue plan

By: African News Agency      15th May 2020  MPs on Friday heard from South African Airways's business rescue practitioners that a lack of funding severely hampered their work, while Public Enterprises Minister Pravin Gordhan questioned their spending decisions and their future objectives for the stricken national carrier. Siviwe Dongwana,... 

Kibo shareholders to vote on reorganisation of share capital as Covid-19 disrupts operations

By: Donna Slater     15th May 2020 Owing to the adverse impact of the Covid-19 pandemic on international business and the uncertainty surrounding the global economic outlook, Africa-focused energy company Kibo Energy is re-evaluating its business plans, partly involving the potential reorganisation of its share capital. The share... 

Solidarity Fund delivers food relief to 300 000 families, to pilot more interventions

By: Thabi Madiba     15th May 2020 Government’s pro bono organisation the Solidarity Fund on Friday announced that it had exceeded its target of providing food relief to 250 000 families across the country and had reached 300 000 families. Owing to the success of the relief efforts, it will be piloting a number of more sustainable... 

Solidarity Fund delivers food relief to 300 000 families, to pilot more interventions

Irena forecasts rise in ocean energy installations to 10 GW by 2030

By: Terence Creamer     15th May 2020 The International Renewable Energy Agency (Irena) believes that ocean energy, which plays an extremely modest role in the global energy mix and the broader clean-energy transition, is poised for growth over the coming decade and is forecasting that deployments will rise to 10 GW by 2030. There is... 

Irena forecasts rise in ocean energy installations to 10 GW by 2030

Tribunal approves four more consent agreements

By: Donna Slater     15th May 2020 The Competition Tribunal has confirmed four more consent agreements relating to Covid-19 excessive pricing complaints, that were concluded between the Competition Commission and various companies. Consent agreements offer parties to alleged anti-competitive conduct the opportunity to settle the... 

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