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Creamer Media Reporter

Engen buys Shell’s Zimbabwe, Lesotho downstream businesses

10th July 2008 Engen Petroleum, headquartered in Cape Town, said on Thursday it would buy Shell Petroleum’s downstream business interests in Zimbabwe and Lesotho, and despite the political turmoil in Zimbabwe, said it had the “utmost confidence” in both countries. Engen already had interests in Lesotho, and... 

Seacom appoints CFO and COO

10th July 2008 Undersea fibre-optics cable system provider Seacom on Thursday announced the appointments of Craig Wilson as CFO and Jean-Louis Parmentier as COO, with effect May 1, and June 1, respectively. “With the project firmly on schedule for commissioning in June 2009, these appointments represent an... 

Real Economy Report

10th July 2008 From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week: we speak to the head of Industrial Development Corporation about its aspiration to materially increase its investment portfolio over the next five years, we look at why nuclear power is coming back... 

WTO says less anti-dumping probes initiated

9th July 2008 Anti-dumping investigations initiated in the second half of 2007 had continued its downward trend, declining by 7% to 101, compared with 109 initiated in the second half of 2006, the World Trade Organisation (WTO) Secretariat announced on Wednesday. The secretariat added that the number of new... 

Impact buys remaining 15% stake in Botswana uranium project

9th July 2008 Australian explorer Impact Minerals has acquired the remaining 15% shareholding in its uranium prospecting licences in Botswana and now owned 100% of the project, it said on Wednesday. The company bought the shares from its COO in Africa, John Blaine, for two-million shares in the company.  

Nersa publishes municipal electricity tariff increase details

8th July 2008 The National Energy Regulator of South Africa (Nersa) on Tuesday revealed how the electricity price increases it had approved last month, would be implemented. The regulator had approved an additional 13,3% increase above the already-approved 14,2% increase announced in December last year,... 

ArcelorMittal completes Newcastle reline ahead of schedule

8th July 2008 ArcelorMittal South Africa on Tuesday announced that the reline of its Newcastle Works blast furnace and sinter plant has been completed ahead of plan and within budget of about R300-million. The recently completed repairs would extend operations at the sinter plant until the planned 2011... 

Investment banker may hire engineers to strengthen financial skills

8th July 2008 Investment bank Absa Capital was looking at hiring engineering students to strengthen its team of financial specialists – mainly made up of finance and commerce professionals – as the financial markets became more complex, its said on Tuesday. Head of trading at Absa Capital, Mike Bagguley, said... 

SABMiller wraps up acquisition of Grolsch US importation rights

8th July 2008 Global brewer SABMiller has concluded an agreement with Anheuser-Busch to transfer the US importation rights for the Grolsch brand to its US joint venture, MillerCoors, it said on Tuesday. The transfer would be effective from August 1, and in addition to Grolsch Premium Lager, the deal also... 

AltX-listed Mazor to move to main board

7th July 2008 AltX-listed steel and aluminium fabricator Mazor Group would move to the main board of the JSE on July 14, the company reported on Monday. Mazor, which listed on AltX in November last year, would be listed in the construction and materials sector and the building materials and fixtures sub-sector. 


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