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Afrimat Construction Index dips in Q2 2017, set to improve in Q3

By: Irma Venter     21st September 2017 The Afrimat Construction Index (ACI) declined marginally in the second quarter of 2017. The ACI is released by JSE-listed industrial minerals and construction materials miner and supplier Afrimat. It is a composite index of the level of activity within the building and construction sectors,... 

Afrimat Construction Index dips in Q2 2017, set to improve in Q3

Eskom not generating enough cash to cover interest on debt – report

By: Terence Creamer     Updated 5 hours ago A new report analysing Eskom’s financial position warns that the State-owned utility is simply not generating enough cash through operations and electricity sales to cover the interest on its borrowings, which will peak at around R500-billion in the coming three years. However, it also argues... 

Eskom not generating enough cash to cover interest on debt – report

Eskom’s unsustainable business model in need of proactive reform – Eberhard

By: Natasha Odendaal     21st September 2017 State-owned power utility Eskom is stuck in a “classic utility death spiral” that many power companies worldwide face as the pressure to adopt new business models and proactively reform increases. Eskom’s need for higher tariffs to offset declining electricity sales amid ever-rising costs is... 

Enel celebrates its Tom Burke solar plant

By: Natasha Odendaal     21st September 2017 Some three years after expanding operations into South Africa, Italian renewable energy firm Enel Green Power (EGP) has established a significant presence locally, boasting more than 520 MW of wind and solar projects in operation, one of which was declared a National Key Point in June. The 66 MW... 

Enel celebrates its Tom Burke solar plant
Lamberto Dai Pra’, Francina Shongoane, John Motebele and William Price at Enel's Tom Burke plant

Gauteng govt to launch six megahousing projects in Ekurhuleni in the next 5 years

By: Anine Kilian     Updated 5 hours ago In a move to address the housing backlog across Gauteng, the provincial government will launch two new megahousing projects a month from now until February 2018, revealed Gauteng Human Settlements MEC Paul Mashatile. Speaking at the 2017 National Human Settlements Development Summit, in... 

Gauteng govt to launch six megahousing projects in Ekurhuleni in the next 5 years
Gauteng Human Settlements MEC Paul Mashatile

Human Settlements department dealing with title deed backlog, rapid urbanising trend

By: Anine Kilian     Updated 4 hours ago Clearing the backlog of about 800 000 title deeds is a major focus point for the Department of Human Settlements (DHS), Minister Lindiwe Sisulu said on Thursday. Addressing delegates at the 2017 National Human Settlements Development Summit, in Ekurhuleni, she stressed the importance of dealing... 

Human Settlements department dealing with title deed backlog, rapid urbanising trend
Photo by Duane Daws
Human Settlements Minister Lindiwe Sisulu

ARA recommits to 2020 clean fuels policy

By: Natasha Odendaal     21st September 2017 The African Refiners and Distributors Association (ARA) on Thursday confirmed its commitment to the 2020 clean fuel policy, which outlined a plan for vehicle emission controls and standards to achieve all the benefits of clean air quality. Following a clean fuels workshop in Togo last week, the... 

SARB keeps key rate at 6.75%, against expectations

By: Reuters     Updated 5 hours ago The South African Reserve Bank (SARB) kept its benchmark repo rate at 6.75% on Thursday, defying market expectations that had predicted a loosening of policy due to easing inflation pressures. Seventeen of 26 economists polled by Reuters had predicted a 25 basis point cut. One had forecast a 50... 

BER finds CPI expectations unchanged

By: Natasha Odendaal     Updated 4 hours ago The average consumer price index (CPI) inflation expectations for 2018 remain unchanged at 5.8% in the third quarter, according to the Bureau for Economic Research (BER). The bureau’s Inflation Expectations Survey shows that analysts and businesspeople have lowered their forecasts; however, trade... 

Outa moves to freeze Gupta mines’ rehabilitation trust fund accounts

By: Creamer Media Reporter      Updated 5 hours ago The Organisation Undoing Tax Abuse (Outa) plans to bring about an urgent interdict against the Bank of Baroda to freeze the R1.75-billion held in the Gupta-owned Optimum and Koornfontein coal mines’ rehabilitation trust fund accounts. The group on Thursday said in a statement that the interdict... 

Grit delivers 2.7% increase in FY17 distribution

By: Natasha Odendaal     Updated 4 hours ago Mauritius- and Johannesburg-listed Grit Real Estate Income Group on Thursday declared a distribution a share of $0.12 for the year ended June 30, a 2.7% increase on the prior year on the back of strong financial results. The seventh consecutive dividend comprised an interim dividend of $0.06... 

Ramaphosa leads SA delegation to London to bid for 2023 Rugby World Cup

By: Sashnee Moodley     21st September 2017 As part of South Africa’s bid to host the Rugby World Cup 2023 tournament, Deputy President Cyril Ramaphosa and a high-level delegation will make their way to London on Sunday to make a presentation to the World Rugby Council.   The delegation will consist of Sport and Recreation Minister Thulas... 

Ramaphosa leads SA delegation to London to bid for 2023 Rugby World Cup
Deputy President Cyril Ramaphosa

Opinion: It's about the extension of agreements, stupid

     21st September 2017 In this opinion piece, National Employers Association of South Africa CEO Gerhard Papenfus argues that protecting the current collective bargaining dispensation will ensure its complete downfall. During a recent Metals and Engineering Indaba, numerous reasons were advanced why collective... 

Scottish, South African scientists demonstrate entanglement swapping for quantum communications

By: Schalk Burger     Updated 5 hours ago A team of Scottish and South African researchers demonstrated entanglement swapping and teleportation of orbital angular momentum (OAM) patterns of light, which is a crucial step towards realising a quantum repeater for high-dimensional entangled states. The team of scientists from Heriot-Watt... 

Zambia State power firm to end emergency power imports next year

By: Reuters     21st September 2017 Zambian State power company Zesco expects to end emergency power imports from Mozambique in the first quarter of next year, a senior executive said on Thursday. Zambia's power generation had improved and it will largely manage to meet its electricity requirements, Zesco Director of Transmission... 

Africa to get state-of-art HIV drugs for $75 per patient a year

By: Reuters     21st September 2017 Makers of generic AIDS drugs will start churning out millions of pills for Africa containing a state-of-the-art medicine widely used in rich countries, after securing a multi-million dollar guarantee that caps prices at just $75 per patient a year. Global health experts hope the deal will help... 

Africa to get state-of-art HIV drugs for $75 per patient a year

Johnson Matthey to invest £200m in battery material technology

By: Reuters     21st September 2017 Johnson Matthey said it will invest an initial £200-million in expanding its battery material technology business from 2018, aiming to capitalise on growth in the electric vehicle market. The specialty chemicals company said the overall market "could be (worth) more than $30-billion (in) sales... 

Bolivia signs contract with Russia to create nuclear centre

By: Keith Campbell     21st September 2017 Russia’s State-owned Rosatom nuclear energy group is to establish a Nuclear Research and Technology Centre (NRTC) in Bolivia. The contract was signed in Vienna, Austria, on Tuesday, between Rosatom group company State Specialised Design Institute (SSDI) and the Bolivian Nuclear Energy Agency... 

Bolivia signs contract with Russia to create nuclear centre
Photo by Rosatom
ABEN general executive director Hortensia Jiménez Rivera (left) signs the NRTC contract with SSDI director-general Vyacheslav Galushkov (right). Bolivian Energy Vice-Minister Luis Alberto Echazú and Rosatom director-general Alexey Likhachev stand behind them

Pan African rolling out vibrant internal growth projects

By: Martin Creamer     Updated 4 hours ago Midtier gold mining company Pan African is rolling out vibrant internal growth projects involving the revival of Evander Mines’ 7 Shaft and the alleviation of congestion at Barberton Mines’ Fairview operation, which will provide the flexibility needed to better exploit what is arguably the... 

Pan African rolling out vibrant internal growth projects
Photo by Duane Daws
Pan African Resources CEO Cobus Loots (right) and Martin Creamer

Leaf 2 offers advanced technologies, dynamic new design 

     Updated 6 hours ago The effects of global warming are driving the case for electric vehicles, or EVs, such as the latest zero-emissions EV from global vehicle manufacturer Nissan, the much-anticipated Leaf 2. Tracy Hancock attended the launch in Japan. 

Leaf 2 offers advanced technologies, dynamic new design

Broken lifts and stairs for commuters with wheelchairs

By: News24Wire      Updated 7 hours ago There is no time frame on when railway stations in Cape Town will be universally accessible, but they will be upgraded says Metrorail. The trains themselves will only be fully accessible for wheelchair users in two to three years, GroundUp reported. 

Zuma schools Trump on climate at UN

By: News24Wire      21st September 2017 President Jacob Zuma on Wednesday declared in his address at the UN that climate change was real. Speaking at the General Debate of the seventy-second Session of the UN General Assembly, Zuma expressed support for victims of hurricanes, arguing that climate change was "real". 

Further investment in Anglo by majority shareholder of Vedanta

By: Martin Creamer     21st September 2017 Vedanta head Anil Agarwal has once again hit the headlines by announcing an intended further personal investment in Anglo American through Volcan Investments, which is the majority shareholder of Vedanta Resources. Volcan announced on Wednesday that it intended investing £1.25-billion to... 

Further investment in Anglo by majority shareholder of Vedanta
Photo by Bloomberg
Vedanta head Anil Agarwal

Tlou submits plans for Botswana power plant

By: Esmarie Swanepoel     21st September 2017 ASX- and Aim-listed Tlou Energy has submitted a proposal to the Botswana Ministry of Mineral Resources, Green Technology and Energy Security to develop up to 100 MW of coalbed methane- (CBM-) fuelled pilot power plants in the African country. The government of Botswana earlier this year requested... 

The graphite fix: Inside China's newest commodity addiction

By: Reuters     21st September 2017 China's aggressive environmental protection campaign has tightened supplies of graphite electrodes used in steelmaking, boosting the fortunes of big producers like Fangda Carbon as mills search far and wide for a material now in short supply. Beijing's campaign for clearer skies has closed... 

ELB sees 143% increase in profitability

By: Anine Kilian     20th September 2017 With profit for the year ended June 30 up 143% to R82-million, from a loss of R189-million in 2016, JSE-listed engineering services provider ELB has seen a 147% increase in headline earnings a share to 243c, from a loss per share of 519c. “Despite political uncertainty, the volatile currency and... 

Third of Pan African gold from low-cost, low-risk surface tailings 

By: Martin Creamer     20th September 2017 More than a third of the yearly gold production of Pan African Resources is destined to arise from low-cost, low-risk tailings businesses, which have long lives ahead of them. Pan African CEO Cobus Loots told investors, analysts and journalists at the company’s presentation of financial results... 

Pan African Resources CEO Cobus Loots at the financial results presentation covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer 20.09.2017

South Africa's AfriSam says merger offer for PPC 'fair'

By: Reuters     20th September 2017 South African cement maker AfriSam said on Wednesday a merger proposal valuing its rival PPC at $700-million was fair, suggesting it has no intention of sweetening its offer. Shares in PPC dropped 2.52% to R6.19 at 1314 GMT, but still well above a R5.75 per share valuation in AfriSam's proposal... 

Commission invites submissions for data services market inquiry

By: Creamer Media Reporter      20th September 2017 The Competition Commission on Wednesday invited stakeholders wishing to participate in its market inquiry into data services to make formal submissions. Submissions would close on November 1. 

Brown receives outstanding information on Eskom’s relationship with Gupta-linked Trillian

By: African News Agency      20th September 2017 Public Enterprises Minister Lynne Brown has received answers from Eskom to outstanding questions about its relationship with Trillian, a Gupta-linked company, her office said on Wednesday. “Minister Brown last night received Eskom’s responses to her queries. She noted  progress and Eskom will... 

Johannesburg Water appoints new MD

     20th September 2017 Ntshavheni Mukwevho has been appointed MD of Johannesburg Water, effective September 1. He joined Johannesburg Water as depot manager in 2003 and later served as divisional manager of investment delivery and GM of capital investment and infrastructure develoment. In 2012, he was appointed COO. 

Johannesburg Water appoints new MD
Ntshavheni Mukwevho

More British funds for trade with South Africa and renewed bilateral commitment to post-Brexit trade

By: Keith Campbell     20th September 2017 British International Trade Secretary (equivalent to Minister in South Africa) Dr Liam Fox announced in Pretoria on Wednesday that his country’s export credit agency, UK Export Finance, has increased the funds available to South African enterprises buying British goods and to British companies... 

More British funds for trade with South Africa and renewed bilateral commitment to post-Brexit trade
Photo by Department of Trade and Industry
Dr Liam Fox (left) and Dr Rob Davies (right) outside the InvestSA One-Stop Shop in Pretoria

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment 

By: Terence Creamer     20th September 2017 State-owned electricity utility Eskom has sounded that warning that, even if its allowable revenue is not increased at all for the 2018/19 year, tariffs will still need to rise by 9.4% simply to accommodate a “rebasing” electricity sales volumes when compared with those approved in the third... 

‘Rebasing’ for lower Eskom sales to trigger 9.4% hike even before any revenue adjustment

IFC provides $150m loan to assist BMW SA’s production plans

By: Irma Venter     20th September 2017 The International Finance Corporation (IFC), a member of the World Bank, will assist in financing BMW Group South Africa’s (BMW SA’s) R6-billion investment in its Rosslyn plant, set to produce the new BMW X3. The $150 million loan comes as South Africa “seeks new sources of economic growth after... 

IFC provides $150m loan to assist BMW SA’s production plans

Sasol proposes new R21bn BBBEE ownership transaction 

By: Anine Kilian     20th September 2017 JSE-listed Sasol on Wednesday announced a proposed new R21-billion broad-based black economic empowerment (BBBEE) ownership transaction, Sasol Khanyisa, which will replace Sasol’s debt-ridden Sasol Inzalo fund, which expires in June 2018. When Sasol Inzalo lapses, it will not be able to... 

Sasol joint president and CEO Stephen Cornell talks about the lessons learned from the Sasol Inzalo transaction and how the proposed new Sasol Khanyisa transaction will be different. Video and editing: Nicholas Boyd.

Glencore strikes multi-year purchase deal with Angola LNG

By: Reuters     20th September 2017 Trading house Glencore is to buy liquefied natural gas (LNG) supplies from Angola LNG over a multi-year period, adding to similar recent deals between the producer and traders including Vitol. Angola LNG on Wednesday said the deal was another step toward building its sales book with the most... 

Seifsa supports Empowered Engineering and Manufacturing initiative

By: Creamer Media Reporter      20th September 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has partnered with Smart Procurement World to launch the Empowered Engineering and Manufacturing initiative, which is aimed at driving economic transformation and industrial progress in engineering and manufacturing. “The... 

Quantum Foods confirms avian flu outbreak at two Western Cape layer farms

By: Creamer Media Reporter      20th September 2017 Food and poultry company Quantum Foods will quarantine and depopulate two of its commercial layer farms in the Western Cape after an outbreak of avian influenza. Although the outbreak was confirmed at only two layer houses, the company has, as a preventive measure, decided to depopulate the two... 

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