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Latest News

Union welcomes appointment of Siza Mzimela as acting SAX CEO

By: African News Agency      2nd August 2018 The National Transport Movement (NTM) on Wednesday welcomed the announcement of Siza Mzimela as acting chief executive of beleaguered airline, SA Express (SAX). In a statement, NTM described Mzimela's appointment as an "excellent choice".  

AfDB appoints Kapoor director general for regional office

By: African News Agency      2nd August 2018 The African Development Bank Group has appointed Dr Kapil Kapoor director general for its Southern Africa Regional Development and Business Delivery Office, it said late on Wednesday. It said Kapoor, who has been director for strategy and operational policies since 2012 when he joined the bank,... 

Implats to shed 13 000 jobs over two years

By: Martin Creamer     2nd August 2018 Platinum group metals mining company Impala Platinum (Implats) on Thursday announced a strategic review of its Impala Rustenburg mine, which involves reducing its labour complement from 40 000 to 27 000 over two years, a reduction of 13 000. The Johannesburg Securities Exchange-listed company... 

Implats to shed 13 000 jobs over two years
Photo by Dylan Slater
Implats CEO Nico Muller

Control of SAA transferred back to public enterprises – Treasury

By: African News Agency      2nd August 2018 Control of South African Airways (SAA) administration has been transferred back to the public enterprises minister from the finance minister, Treasury said on Wednesday. In a statement, Treasury said a proclamation signed by President Cyril Ramaphosa giving effect to the transfer was gazetted on... 

IFC, Gaia partnership working to power Africa

By: Simone Liedtke     1st August 2018 World Bank Group member, the International Finance Corporation (IFC), has forged a new partnership with Moroccan renewable energy developer Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa. Originally developed by Gaia Energy,... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill 

By: Terence Creamer     1st August 2018 Steel producer ArcelorMittal South Africa (AMSA), which announced its first interim profit in six years and may be on track to deliver its first full year profit since 2010, has initiated a study for the construction of a new electric arc furnace (EAF) at its Vanderbijlpark mill and has also... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill
AMSA CEO Kobus Verster

Energy access solution lies in adopting VRFB technology in renewable energy – Nikomarov  

By: Simone Liedtke     1st August 2018 With about 650-million people in Africa currently without access to electricity, Bushveld Minerals subsidiary Bushveld Energy CEO Mikhail Nikomarov believes the solution lies in area-specific solutions. He explained in an interview with Mining Weekly Online that a solution needs to be an... 

Energy access solution lies in adopting VRFB technology in renewable energy – Nikomarov
Bushveld Energy CEO Mikhail Nikomarov speaks to Mining Weekly Online about the company's mission to address Africa's electricity shortage through cost effective storage and vanadium applications for Africa-specific solutions. Video and Editing: Nicholas Boyd

New-vehicle sales increase in July, 2018 exports set to disappoint

By: Irma Venter     1st August 2018 The South African new-vehicle market expanded by 2.6% in July, to 47 881 units, compared with the same month last year. The newest sales numbers, released on Wednesday, indicate that July new-passenger car sales gained 4.3%, to reach 32 108 units. 

New-vehicle sales increase in July, 2018 exports set to disappoint

Concrete industry urged to stand together to lobby government

By: Marleny Arnoldi     1st August 2018 AfriSam sales and marketing executive Richard Tomes has urged the concrete industry to seriously consider consolidation and collaboration amid a tough operating environment. “Often the private sector is critical about government when we are confronted with the challenges of our industry; however,... 

Enel Green Power reaches financial close on five new wind farms

By: Simone Liedtke     1st August 2018 Enel Global Renewable Energies’ Enel Green Power (EGP) division, in Southern Africa, has reached financial close on five new wind farms with about 700 MW in capacity. The five wind farms – Nxuba and Oyster Bay, in the Eastern Cape, and Garob, Karusa and Soetwater, in the Northern Cape – have a... 

Enel Green Power reaches financial close on five new wind farms

Absa PMI rises to 51.5 in July

By: Simone Liedtke     1st August 2018 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 51.5 index points in July, up from 47.9 in June. The current level, which is above the neutral 50-point mark, suggests that the manufacturing sector got off to a good start in the first month of the third quarter of this year. 

Etion lobbies for independent maintenance house for railways

By: Irma Venter     1st August 2018 The JSE-listed Etion is lobbying for the formation of an independent information and maintenance house, which will manage the maintenance and information of the condition monitoring systems at most of South Africa’s freight rail operations. These systems, which serve to keep trains on the track... 

Etion lobbies for independent maintenance house for railways
Bennie Steyn

R7bn needed to complete Limpopo's unfinished roads 

By: News24Wire      1st August 2018 An estimated R7-billion will be needed to complete all unfinished roads in Limpopo. This is according to the spokesperson for the provincial department of public works, roads and infrastructure, Joshua Kwapa, who said the department currently does not have the budget to complete unfinished roads... 

Auto suppliers retool to chase electric vehicle bonanza

By: Reuters     1st August 2018 In what seems to be a magic trick, Dele Fayemi runs a batch of batteries in a beaker of boiling water - a physical impossibility that should cause a short circuit. But instead of a highly-dangerous combination of water and electricity, the 3M Co (MMM.N) engineer is testing the batteries in Novec,... 

Risk of rotational load shedding high on Wednesday – Eskom 

By: African News Agency      1st August 2018 South Africa's power utility, Eskom, on Wednesday, said that the risk of Stage 1 rotational load shedding remained high but will only be implemented if "absolutely necessary". Eskom said it did not implement load shedding on Wednesday morning, adding that the electricity system remained... 

Sanedi calls on industry to move back Earth Overshoot Day

By: Simone Liedtke     1st August 2018 As part of its mission to address the issues of clean and sustainable energy, the South African National Energy Development Institute (Sanedi) will be participating in this year’s global Earth Overshoot Day, taking place on August 1, by urging South Africans to check their ecological footprint... 

Sanedi calls on industry to move back Earth Overshoot Day

New sales channels, expansion lift Go Life’s revenue

By: Simone Liedtke     1st August 2018 JSE-listed Go Life International’s revenue rose by 66.3% year-on-year to $572 287, compared with revenue of $343 730 earned in the quarter ended May 31, 2017. This significant growth, the company said on Wednesday, is attributed to various new sales channels, as well having expanded the Go Life... 

RSR says it won’t issue PRASA with safety permit

By: Anine Kilian     1st August 2018 The Railway Safety Regulator (RSR) on Wednesday said the Passenger Rail Agency of South Africa (PRASA) was operating trains without a valid safety permit. PRASA’s safety permit, which was previously issued with special conditions, expired at midnight on July 31, and the RSR has taken the decision... 

CSIR, Gold Yard to scale up industrial development in Africa through partnership

By: Simone Liedtke     1st August 2018 The Council for Scientific and Industrial Research (CSIR) and Gold Yard International Exchange Service have signed an agreement to contribute to boosting industrial development on the African continent. Gold Yard represents the various provincial bureau of China State Administration of Foreign... 

Expropriation will advance economic development, increase food security – Ramaphosa

By: News24Wire      1st August 2018 President Cyril Ramaphosa announced that the ANC would propose an amendment of the Constitution to Parliament, outlining conditions for expropriation of land without compensation. His late-night announcement came following the political party's two-day national executive committee lekgotla, which... 

EIUG calls on Eskom to end impasse, resolve conflict

By: Simone Liedtke     1st August 2018 The Energy Intensive User Group (EIUG) of Southern Africa is concerned about the continuing industrial conflict at State-owned Eskom, it said in a statement on Wednesday. It called on the power utility and its unions to find a way to end the impasse, and to “show responsibility in respect of... 

Floating solar PV solution could hold benefits for South African end-users – Black & Veatch 

By: Simone Liedtke     1st August 2018 Floating solar photovoltaic (PV) solutions, which make use of a flotation system on which the PV modules are attached, addresses the shortage of reasonably priced land, as well as the need to reduce the rate of evaporation from precious freshwater reservoirs, such as dams or lakes, Black & Veatch... 

Nene extends deadline for VAT panel to submit report to him

By: African News Agency      1st August 2018 Finance Minister Nhlanhla Nene has extended the deadline for a panel of experts appointed to review the current list of items exempt from value-added tax (VAT) to submit its final report to him, the National Treasury said on Tuesday. "The Chair of the Independent Panel of Experts for the review... 

AMSA swings to H1 profit

By: Reuters     1st August 2018 ArcelorMittal South Africa (AMSA) swung back to a modest profit in the first half of the financial year, boosted by higher steel prices and upbeat sale volumes, the firm said on Wednesday. Diluted headline earnings per share (HEPS) for the six months ended 30 June, 2018, is 5c a share compared... 

AMSA swings to H1 profit

SANDF chief clarifies situation regarding Cuba flight

By: News24Wire      1st August 2018 South African National Defence Force (SANDF) chief General Solly Shoke reiterated on Tuesday that reports about the smuggling of arms to Cuba on a chartered South African Airways (SAA) flight were misguided and sensationalist. Speaking at an SANDF media briefing in Centurion, Shoke said the... 

Water Research Commission to investigate tow-an-iceberg proposal

By: News24Wire      1st August 2018 The Water Research Commission is to investigate the proposal to tow an iceberg to Cape Town to establish whether it is feasible as a new source of water. The commission has asked the brains behind the project, salvage expert Nick Sloane, to set up a seminar where they can get a more detailed... 

Report shows Cape Town is Africa’s tech capital

By: Anine Kilian     31st July 2018 A report commissioned by the Cape Innovation and Technology Initiative (CiTi), Wesgro and the Allan Gray Orbis Foundation – with the support of the Western Cape government – has confirmed that the greater Cape Town area, including Stellenbosch, is Africa’s tech capital. The report, compiled by... 

Sappi debuts on FTSE/JSE Responsible Investment Top 30 index

By: Marleny Arnoldi     31st July 2018 Pulp and paper producer Sappi has been included in the FTSE/JSE Responsible Investment Top 30 Index. The company has also been confirmed as a constituent of the FTSE4Good Index Series, which is designed to measure the performance of companies demonstrating strong environmental, social and... 

Gauteng launches school of specialisation to bridge skills gap

By: Simone Liedtke     31st July 2018 The Gauteng Department of Education on Tuesday relaunched Rhodesfield Technical High School, in Kempton Park, as the Rhodesfield Engineering School of Specialisation, with a special focus on aviation, engineering and mathematics. The school curriculum will focus on core subjects and courses of... 

Tower Property’s vacancies decrease amid improving consumer, business sentiment

By: Simone Liedtke     31st July 2018 An improvement in South African consumer and business sentiment in early 2018 contributed to real estate investment trust (Reit) Tower Property Fund’s vacancies reducing to 5% at the end of its financial year to May 31, after having reached a high of 12% in January. However, in order to secure... 

Altron founder retires from board

By: Anine Kilian     31st July 2018 Allied Electronics (Altron) founder Dr Bill Venter, will retire as nonexecutive director of the board, effective July 31. The board on Tuesday thanked Venter for the important and central role he played in the development of the South African electronics industry and the South African economy as... 

Huge Telecom appoints new FD

By: Anine Kilian     31st July 2018 Robert Burger has been appointed FD of JSE-listed Huge Group subsidiary, Huge Telecom, effective August 1. He is a chartered accountant with 17 years of experience in the telecommunications industry, which he gained while working for Vodacom. 

Voorspoed diamond mine to close after search for bidder fails 

By: Martin Creamer     31st July 2018 The Voorspoed diamond mine in the Free State is scheduled to close by year-end if the Department of Mineral Resources (DMR) is unable to secure, in the next 30 days, a suitable bid that will set the seal on the employment and community support that this Kroonstad-area mine provides. The decision... 

Voorspoed diamond mine to close after search for bidder fails
De Beers Consolidated Mines CEO Phillip Barton outlines the Voorspoed mine closure plans to Mining Weekly Online’s Martin Creamer. Video and Video Editing. Darlene Creamer.

Trade surplus jumps to R12bn in June

By: Reuters     31st July 2018 South Africa's trade surplus widened to R12-billion ($917-million) in June from a revised R3.84-billion surplus in May, data from the revenue agency showed on Tuesday. Exports rose by 7.1% on a month-on-month basis to R110-billion in June, while imports dipped 0.9% to R98-billion, the South... 

South Africa faces power cuts as Eskom power units down – internal report 

By: Reuters     31st July 2018 Fifteen units are currently down at nine South African power stations, taking over 6 000 MW of power or 13% of Eskom's output off the national grid, an internal document seen by Reuters showed on Tuesday. Eskom provides more than 90% of the power for Africa's most industrialised economy, but the... 

South Africa faces power cuts as Eskom power units down – internal report

IDC open to ‘all options’ for turning around Foskor as impairments surge  

By: Terence Creamer     31st July 2018 The State-owned Industrial Development Corporation (IDC) reported a sharp rise in impairments during its 2018 financial year, which surged 178% to R2.7-billion, from R954-million in 2017. Impairments as a percentage of total financing also increased to R4.9-billion (R2.1-billion), or 17.4%, only... 

IDC open to ‘all options’ for turning around Foskor as impairments surge
IDC CFO Nonkululeko Dlamini and CEO Geoffrey Qhena discuss the rise in impairments in the 2018 financial year, while IDC chairperson Busisiwe Mabuza outlines the need for policy certainty. Video and editing: Nicholas Boyd.

Q2 unemployment rate rises to 27.2%

By: Marleny Arnoldi     31st July 2018 The official unemployment rate increased to 27.2% during the second quarter, compared with 26.7% in the first quarter. This translates to 6.1-milllion unemployed people in South Africa. There are 37.8-million people that are of working age (between 15 and 64 years) in South Africa, of which... 

Q2 unemployment rate rises to 27.2%

DA, OUTA gear up for mass protests against rising fuel prices

By: News24Wire      31st July 2018 Democratic Alliance (DA) leader Mmusi Maimane and Ben Theron of the Organisation Undoing Tax Abuse (OUTA) are preparing for a mass fuel protest in Pretoria on Tuesday. Last week, Maimane said the recent continuous fuel price increases were bringing ordinary South Africans to their knees. "[The... 

DA, OUTA gear up for mass protests against rising fuel prices

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