http://www.engineeringnews.co.za
R/€ = 15.91 Change: -0.02
R/$ = 14.06 Change: 0.02
Au 1324.14 $/oz Change: 9.14
Pt 806.51 $/oz Change: 19.05
 

Latest News

Subdued construction activity, higher imports cut PPC's sales volumes

By: Marleny Arnoldi     5th February 2019 JSE-listed cement producer PPC has reported difficult trading conditions for the nine months to December 31, 2018, with cement volumes down between 2% and 3%, against a backdrop of estimated market contraction of between 4% and 5%. The company said an uncharacteristically weak December retail... 

Mpact expects to report higher full-year EPS, HEPS

By: Tasneem Bulbulia     5th February 2019 Mpact expects its underling earnings per share (EPS) for the year ended December 31, to be between 22.1% and 28.1% higher year-on-year at between 203c and 213c. EPS are expected to be between 180c and 190c – an increase of between 11% and 17.2% compared with the prior year’s EPS of 162.1c. 

Saice calls for infrastructure review following Hoërskool Driekhoek incident

By: Tasneem Bulbulia     5th February 2019 The South African Institution of Civil Engineering (Saice) has expressed its support for an immediate full review of school buildings by competent structural engineers, following the collapse, on February 1, of a concrete slab at Hoërskool Driekhoek, in Vanderbijlpark. Concrete elements of a... 

Sea Harvest seeks to acquire remaining Mareterram shares

By: Simone Liedtke     5th February 2019 JSE-listed fishing business Sea Harvest has entered into a binding bid implementation agreement with its 56.3% held Australian subsidiary, Mareterram, to potentially acquire the remaining shares of Mareterram by way of an off-market takeover offer. Sea Harvest is offering A$0.25 for each... 

Ford engages the mining sector on the road to more EVs

By: Kim Cloete     5th February 2019 Ford is quickening its pace towards the mass production of electric vehicles (EVs) and researching how the mining industry can help it to achieve its goals. “There are tremendous investments taking place at every level to achieve this radical revolution in the automotive industry,” Ford energy... 

Aerospace group launches new space-based service for precision agriculture

By: Rebecca Campbell     5th February 2019 Airbus Defence and Space (Airbus DS), one of the companies of the Europe-based aerospace group Airbus, has launched a new service to support precision agriculture around the world. Precision agriculture is an approach to managing crops using remote sensing technologies (airborne and space-borne),... 

Aerospace group launches new space-based service for precision agriculture

Private sector shrinks at a slower pace in January – IHS Markit PMI

By: Reuters     5th February 2019 Activity in South Africa's private sector deteriorated slightly in January as output and new orders fell while exports rose, a survey showed on Tuesday. IHS Markit's Purchasing Managers' Index (PMI) rose to 49.6 from 49.0 in December, remaining below the 50 mark that separates expansion from... 

Aveng Strabag JV terminates Mtentu contract, citing protests; Sanral unconvinced  

By: Irma Venter     5th February 2019 The Aveng Strabag joint venture (ASJV) has decided to terminate the Mtentu bridge contract, in the Eastern Cape. The 1.1 km, R1.65-billion bridge forms part of the South African National Roads Agency Limited’s (Sanral’s) N2 Wild Coast road project. 

Aveng Strabag JV terminates Mtentu contract, citing protests; Sanral unconvinced
An artist's impression of the proposed Mtentu bridge

Omnia group FD Wayne Koonin resigns

By: Marleny Arnoldi     4th February 2019 JSE-listed Omnia Holdings on Monday announced that group FD Wayne Koonin had resigned to pursue other interests. He will step down on March 31.  

South32’s South Africa Energy Coal expresses concern about Eskom’s fragile state 

By: Kim Cloete     4th February 2019 Mining and metals company South32 says it is concerned about the challenges that have increasingly threatened the stability of South African power utility Eskom and needs to ensure the continuity of supply of its coal to Eskom in the long run. South32’s South Africa Energy Coal (SAEC) company... 

South32’s South Africa Energy Coal expresses concern about Eskom’s fragile state
Globally diversified mining and metals company, South32, says it is concerned about the challenges that have increasingly threatened the stability of Eskom. Video and editing: Nicholas Boyd

Unbundle Eskom to make it sustainable – CEO  

By: News24Wire      4th February 2019 Decisions that need to be taken at Eskom might end up being painful, but they have to be taken, the power utility’s CEO, Phakamani Hadebe told delegates at Mining Indaba 2019 on Monday. Of his appointment as Eskom CEO, he told delegates that nothing prepares one to deal with an institution where... 

 Unbundle Eskom to make it sustainable – CEO
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Corruption Watch files Eskom board delinquency papers

By: Bloomberg     4th February 2019 South African civil-society organization Corruption Watch said it has launched an application in the High Court of Pretoria to have former Eskom board members declared delinquent. The application “focuses on the violation of fiduciary duties and gross negligence on the part of former board... 

Busa calls for inflation-linked Eskom hikes until power market is restructured  

By: Terence Creamer     4th February 2019 Business Unity South Africa (Busa) has urged the National Energy Regulator of South Africa (Nersa) to suspend its methodology for setting power tariffs and to grant Eskom only inflation-linked increases until the electricity supply industry has been restructured. In a presentation during Gauteng... 

Busa calls for inflation-linked Eskom hikes until power market is restructured
Photo by Dylan Slater
BUSA’s Martin Kingston

Eskom lays bare its monumental challenges 

By: Martin Creamer     4th February 2019 When Eskom had 32 000 employees, debt of R40-billion and an output of 40 000 MW, it was a world-beater, Eskom group CE Phakamani Hadebe said on Monday. But its current employee level of 47 000 employees, debt of R440-billion and output of only 38 000 MW are presenting major turn-around challenges. 

Global demand for coal rises despite uncertainty

By: Kim Cloete     4th February 2019 Despite a move to renewable energy, particularly in Europe, demand for coal globally soared in 2018, led by low calorific value (CV) coal demand. The strongest import markets were China and India, while Indonesia performed extremely strongly on the supply side. China’s demand for coal... 

Coal exports have not risen since 2008, with the IRP posing a further threat, says Minerals Council

By: Kim Cloete     4th February 2019 Coal production, exports and investment in the industry have remained stagnant since 2008, despite higher export prices and South Africa’s abundant coal reserves, says the Minerals Council South Africa. “Even as the coal export price soared, export volumes failed to respond,” Minerals Council... 

New investor for Cape Town Cobra maker; electric car on the table

By: Irma Venter     4th February 2019 Les Hayden’s Cobra replica assembly line in Cape Town is up and running again, following a change in ownership.   Automotive Investment Holdings (AIH) in 2017 initiated a project to modernise the Hayden Cobra, but sold its interest in the venture after a decision to return to its core business of... 

New investor for Cape Town Cobra maker; electric car on the table
The Hayden Cobra

South Africa should consider capitalising power firm Eskom again – CEO

By: Reuters     4th February 2019 South Africa should consider increasing capitalisation of power firm Eskom due to lower electricity tariffs, the utility's chief executive officer said on Monday. Eskom CEO Phakamani Hadebe also told a mining conference in Cape Town that there was need to consider "functionally unbundling" or... 

South Africa should consider capitalising power firm Eskom again – CEO
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Karoo gets rain, but drought far from over

By: Natasha Odendaal     4th February 2019 Much-needed rainfall in the drought-stricken Karoo region has resulted in some rivers flowing for the first time in four years; however, the drought persists and water conservation efforts remain critical. In a statement issued on Monday, Western Cape Local Government, Environmental Affairs and... 

Eskom warns of R20bn losses this year and next, even after big hikes  

By: Terence Creamer     4th February 2019 State-owned electricity utility Eskom is warning that its loss for 2018/19 will be worse, at R20-billion, than the R15-billion loss it had projected earlier and that it will be followed by another big loss in 2019/20 even if it receives hikes it is currently seeking from the regulator. CFO Calib... 

Eskom warns of R20bn losses this year and next, even after big hikes
Photo by Dylan Slater
Eskom CFO Calib Cassim

Eight senior Transnet execs issued with precautionary suspension letters  

By: Simone Liedtke     4th February 2019 Eight senior executives at State-owned Transnet have been issued with letters of precautionary suspension resulting from past internal audit and forensic reports that were not implemented by management at Transnet. The decision to issue the precautionary suspensions was taken after no follow-ups... 

Innovation mining’s biggest challenge – Anglo 

By: Martin Creamer     4th February 2019 The world is standing on the brink of a technological revolution that will result in transformation unlike anything human kind has experienced before, which is making innovation mining’s biggest challenge. “In the next five years, it’s about major step changes in innovation,” Anglo American CEO... 

Innovation mining’s biggest challenge – Anglo
Anglo American corporate relations director Anik Michaud discusses the group's sustainability strategy, while CEO Mark Cutifani talks about the group's plans for innovation over the next five years. Video and editing: Nicholas Boyd.

MTN expects 20% improvement in FY18 earnings

By: Natasha Odendaal     4th February 2019 Telecommunications giant MTN expects its earnings for the year ended December 31, 2018, to increase by 20%. Its headline earnings per share (HEPS) and attributable earnings per share (EPS) are anticipated to be 36.4c and 49.2c respectively higher than the HEPS and EPS of 182c and 246c recorded in... 

Clover’s shares rise on buyout offer

By: Simone Liedtke     4th February 2019 Dairy firm Clover Industries’ JSE-listed shares rose by 21% on Monday morning after it announced that it had entered into an implementation agreement with Milco South Africa (SA), which intends to make an offer to acquire all of Clover’s issued shares. Milco SA is a new company formed by a... 

Clover’s shares rise on buyout offer

Mining green shoots sprouting – Minerals Council 

By: Martin Creamer     4th February 2019 Green shoots are sprouting in South Africa’s mining sector, which is readying for new take off, Minerals Council South Africa CEO Roger Baxter said on Monday. In a briefing on the State of the Mining Nation on the sidelines of the opening day of the Investing in African Mining Indaba, Baxter told... 

Mining green shoots sprouting – Minerals Council
Minerals Council CEO Roger Baxter

Contract to expand William Nicol Drive cancelled – Vadi

By: African News Agency      4th February 2019 The contract for the company that was supposed to do some work on William Nicol drive has been cancelled, the Gauteng MEC for Roads and Transport Ismail Vadi announced on Monday. Lubbe Construction had been contracted by the provincial department to construct the stalled K46 (William Nicol Drive)... 

Contract to expand William Nicol Drive cancelled – Vadi
Gauteng MEC for Roads & Transport Ismail Vadi

Mining 'walking into a brighter future' – Makwana  

By: Martin Creamer     4th February 2019 Mining was walking into a brighter future and the appetite for mining investment was strengthening, attendees of the Investing in African Mining Indaba heard on Monday. Opening the 25th consecutive Investing in African Mining Indaba Cape Town, attention was drawn to stepped up investment in... 

Mining 'walking into a brighter future' – Makwana
Mining Indaba MD Alex Grose and Mining Indaba advisory board chairperson Mpho Makwana discuss trends in the mining industry and what is to be expected from this year's Mining Indaba. Video and editing: Nicholas Boyd.

Gordhan and Malema to face off in Equality Court

By: News24Wire      4th February 2019 Economic Freedom Fighters (EFF) leader Julius Malema and Public Enterprises Minister Pravin Gordhan will face off in the Equality Court today following Malema's scathing attack on the Public Enterprises Minister. This comes after Malema addressed a crowd of EFF supporters outside the Commission... 

Gordhan and Malema to face off in Equality Court
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

All PIC board members resign

By: Reuters     1st February 2019 The entire board of South Africa's state-owned state pension fund, the Public Investment Corporation (PIC), resigned on Friday, citing instability at the firm following graft allegations against at least four directors. "These events have been unbearable to us as individuals," the board said in a... 

Eskom says gets R15bn loan from lending consortium

By: Reuters     1st February 2019 South Africa's struggling power firm Eskom has agreed a R15-billion loan facility with a consortium of local and international banks, it said on Friday, an important step as it tries to close a funding gap before the end of March. Eskom is vital to the health of Africa's most industrialised... 

Hudaco maintains FY18 dividend despite economic headwinds

By: Marleny Arnoldi     1st February 2019 JSE-listed engineering consumables supplier Hudaco Industries maintained its final dividend for 2018 at 380c apiece, despite having experienced an “especially challenging” year. The company reported a 3% year-on-year decrease in operating profit to R655-million.  

Hudaco maintains FY18 dividend despite economic headwinds
Photo by Dylan Slater
Hudaco CFO Clifford Amoils and Hudaco CE Graham Dunford

Technical defects at Medupi and Kusile resulting in serious underperformance  

By: Terence Creamer     1st February 2019 State-owned electricity producer Eskom has offered a sobering update on the difficulties it is having at its Medupi and Kusile coal projects, which are not only years behind schedule and significantly over budget, but are now also beset with technical defects that are resulting in a serious... 

Technical defects at Medupi and Kusile resulting in serious underperformance

Group Five appoints interim CEO following Solomon Mosai’s resignation

By: Marleny Arnoldi     1st February 2019 JSE-listed Group Five has appointed nonexecutive director Dr Thabo Kgogo interim CEO effective February 1, following Solomon Themba Mosai’s resignation, which was effective January 31. Mosai was employed by Group Five for 15 years. He was appointed interim CEO in March 2018 and as CEO in May... 

2019 kicks off with 7.4% decline in new-vehicle sales 

By: Irma Venter     1st February 2019 New-vehicle sales in the domestic market declined by 7.4% in the first month of the year, to 42 374 units, compared with January last year. Sales numbers released by the Department of Trade and Industry on Friday showed that January new-passenger car sales dropped by 10.8%, to 29 040 units. 

2019 kicks off with 7.4% decline in new-vehicle sales

Anadarko signs long-term deal with CNOOC for Mozambique gas

By: Reuters     1st February 2019 Anadarko Petroleum Corp said on Friday a long-term agreement had been signed with the trading division of China's state-owned offshore oil and gas producer CNOOC to supply liquefied natural gas (LNG) from Mozambique. The deal will bring it one step closer to making a final investment decision for... 

Eskom revises tariff upwards as it unveils shock changes to Nersa submission  

By: Terence Creamer     1st February 2019 Embattled electricity utility Eskom has made shock adjustments to its revenue application currently before the National Energy Regulator of South Africa (Nersa), which, if approved, would translate into tariff increases that are even higher than the 15% a year hikes sought in its initial... 

Eskom revises tariff upwards as it unveils shock changes to Nersa submission
Photo by Dylan Slater
Eskom CFO Calib Cassim

Sub-Saharan Africa Eurobonds to perform better this year

By: Reuters     1st February 2019 Eurobonds from sub-Saharan Africa will perform better this year even though debt levels in some parts of the region are ballooning, as diminishing prospects for further U.S. interest rate hikes support demand, a Reuters poll found. All but one of ten analysts surveyed this week said it would be a... 

Zondo asks South African agencies to probe prison-food tenders

By: Bloomberg     1st February 2019 The head of a judicial panel probing corruption in South Africa directed the authorities to investigate allegations that almost R1-billion was paid to services company Bosasa to provide catering in the nation’s prisons without it doing the requisite work. “There was no labor from Bosasa, it was... 

More Latest News

more

Company Article

more

Latest Videos

more

Company Announcements

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close