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Mining well placed to maintain healthy profits despite pandemic impacts, says Stanlib 

By: Marleny Arnoldi     18th September 2020 Asset manager Stanlib says the scars from a blow-out of corporate bond yields and indebted miners finding themselves on the brink of collapse have ultimately introduced good balance sheet and operational discipline into the sector. This included rationalising growth plans and consolidating... 

Agri SA value chain services company grows to fully fledged status

By: Marleny Arnoldi     18th September 2020 Agricultural organisation Agri SA’s new company Agri SA Enterprises has evolved into a fully fledged company with a focus on food value chain services. Agri SA in 2015 appointed an executive management member Omri van Zyl to incubate the company and solidify its service offering, which... 

JSE-listed Telkom tells of mixed hit from Covid-19 restrictions

By: Natasha Odendaal     18th September 2020 The impact of Covid-19 and the national lockdown has impacted JES-listed Telkom’s business to varying degrees. In an update to the market, Telkom said that, while its consumer business benefitted from the increased demand from people working from home and online schooling, its BCX and Small... 

Nersa to learn next week if tariff-raising Eskom judgment can be appealed 

By: Terence Creamer     18th September 2020 High Court Judge Fayeeza Kathree-Setiloane will decide next week whether to grant the National Energy Regulator of South Africa leave to appeal her July 28 judgment, which found the regulator’s decision to deduct a R69-billion equity injection into Eskom from its allowable revenue for the period... 

Investors call for climate disclosures in company accounts

By: Bloomberg     18th September 2020 Climate change will have a major affect on companies’ profits and the value of their assets, so its impact should be reflected in their accounts. That’s the conclusion of investors managing more than $100-trillion. The money managers and pension funds want companies to publish their 2020 annual... 

Govt commits to provide SAA with R10.5bn – administrator 

By: Reuters     18th September 2020 South Africa has pledged R10.5-billion to South African Airways, one of the administrators of the ailing state-owned airline said on Friday. The administrators took control of SAA in December after almost a decade of financial losses and have been trying to keep it afloat as the coronavirus... 

Unions threaten legal action if government does not commit to saving State-owned airlines

By: Rebecca Campbell     18th September 2020 Two trade unions, the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca), have jointly announced that, together, they are going to challenge in court the liquidation of State-owned airlines South African Airways (SAA) and South African... 

Gemfields seeking alternatives to auctions

By: Simone Liedtke     18th September 2020 Gemstone miner Gemfields says it is unable to provide guidance as to when it might be able to host its next auction, or generate meaningful revenue from sales, with its financial results for the first half of this year, ended June 30, reflecting the "immense impact” of the Covid-19 pandemic and... 

Cornish Lithium mulls second round of crowdfunding, IPO for UK project

By: Reuters     17th September 2020 Britain's Cornish Lithium said on Thursday it was considering another round of crowdfunding for its geothermal lithium project after reporting high grades of the key battery ingredient in brine that also produces renewable power. The exploration company, founded and headed by ex-banker Jeremy... 

Australia aluminum sector in fight for survival, industry warns

By: Bloomberg     15th September 2020 Australia’s aluminum smelters are being priced out of the global market due to high energy costs, with closures looming unless they can find a pathway to cheaper power, according to the head of an international producer body. The warning comes as smelters across the globe are under pressure from... 

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