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Creamer Media Reporter

Sasol Wax expands hydro-treating capacity in Germany

17th July 2008 Synthetic and petroleum-derived wax producer Sasol Wax, would expand its hydro-treating capacity for paraffin waxes at its plant in Hamburg, Germany, and the company also planned to double the production capacity of synthetic wax at its Sasolburg plant in South Africa by 2013. The project would... 

Sasol Mining agrees to lift Solidarity members wages by 12%

17th July 2008 Trade union Solidarity has signed a 12% wage increase for Sasol Mining employees, following wage negotiations in Mpumalanga. Solidarity represented about 1 000 employees at Sasol Mining in Secunda. The majority of these employees were artisans. 

Solidarity accepts Telkom’s 10,5% wage offer

17th July 2008 Trade union Solidarity has accepted fixed-line operator Telkom’s average wage increase of 10,5% for all its members, in negotiations that have been drawn out since November 2007. In terms of the new agreement, Solidarity members would receive an increase of between R852,26 and R1 671,50 a month,... 

Real Economy Report

17th July 2008 From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week: we ride the first Gautrain, missile maker Denel Dynamics unveils some of its new technologies, and De Beers' Finsch mine unveils a new R630-million diamond plant.  

Busa welcomes overall thrust of OECD report

16th July 2008 Business Unity South Africa (Busa) has welcomed the "overall thrust" of the Organisation for Economic Cooperation and Development's (OECD's) economic assessment of South Africa, saying it reflected a realistic grasp of the socio-economic priority that needed to prevail in helping to shape the... 

Ellies revises profit forecast

16th July 2008 AltX-listed electronics company Ellies stated that it expected earnings and headline earnings a share for the period ended April 2008, to be between 24% and 29% higher than the profit forecast when the company issued its prospectus on August 2007. The reviewed financial results of the company... 

Palabora quarterly output jumps 12%

16th July 2008 Copper miner and beneficiator Palabora Mining Company, a member of the Rio Tinto group, on Wednesday announced that production at its underground mine, situated in the Ba-Phalaborwa area of the Limpopo province, was 12% higher during the second quarter of the year, compared with the previous... 

Sasol to start Mozambique gas drilling programme in third quarter

16th July 2008 South African petrochemicals firm Sasol would start driling at its hydrocarbon exploration project offshore Mozambique, in the third quarter of this year, the company said on Wednesday. Should the drilling campaign be successful, Sasol planned to supply the natural gas to markets in Mozambique... 

Rio Tinto iron-ore output hits fresh record

16th July 2008 Results from diversified-miner Rio Tinto’s second quarter showed record quarterly global production of iron-ore, and copper, while Australian thermal and coking coal production increased by 15% and 25%, and Rio Tinto Alcan “continued to perform well”, the company said on Wednesday. “These strong... 

Aerospace and defence sector deals still soaring – report

16th July 2008 The aerospace and defence sector deals remained buoyant, a newly released report by PricewaterhouseCoopers (PwC) stated, highlighting that transactions reached nearly $31-billion last year, up from $29,2-billion in 2006. The bulk of mergers and acquisitions (M&A) activity remained centred in... 

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