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Latest News

Strike looms at Road Accident Fund, Numsa granted certificate

By: African News Agency      10th October 2017 A strike looms at the cash-strapped Road Accident Fund (RAF), where workers have lodged several complaints including malfunctioning air conditioning units, poor sanitation and assets such as computers being attached to pay creditors. The National Union of Metalworkers of South Africa (Numsa) on... 

Wolseley residents complain of no refuse collection for 5 years

By: News24Wire      10th October 2017 Residents who moved to Zakhele in Wolseley five years ago, say the municipality hasn't provided any basic services despite them paying for it. After GroundUp sent questions to Witzenberg Municipality about the absence of refuse removal for all these years, the municipality sent out a small truck... 

Hopes for Liberia’s first diamond mine rise on general election 

By: Martin Creamer     9th October 2017 This year's discovery of two new additional diamond-bearing pipes that are satellites to an earlier-discovered main diamond-bearing kimberlite pipe have boosted hopes for the establishment of the first diamond mine in Liberia, where artisanal activity has been the mainstay of diamond recovery in... 

Hopes for Liberia’s first diamond mine rise on general election
Florida International University distinguished research professor Stephen E Haggerty outlines Liberia’s diamond prospects to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva

Transnet locomotive corruption probe extended as Parliament gears up for inquiry

By: Terence Creamer     9th October 2017 Democratic Alliance (DA) Shadow Minister of Trade and Industry Dean Macpherson is preparing a list of witnesses to appear before a Parliamentary Portfolio Committee for Trade and Industry inquiry into the failure of China South Rail (CSR) to meet local-content obligations as part of its supply of... 

Transnet locomotive corruption probe extended as Parliament gears up for inquiry

SACPCMP to host fifth Project and Construction Management Professions conference

By: Anine Kilian     9th October 2017 The South African Council for the Project and Construction Management Professions (SACPCMP) will host its Project and Construction Management Professions conference on October 18 and 19 at the Birchwood hotel in Boksburg. Following four successful conferences, this year’s event is a continuation... 

China steel rises as market eyes winter cuts; iron-ore, coal slide

By: Reuters     9th October 2017 Shanghai steel rebar futures jumped nearly 3% on Monday as Chinese markets reopened after a week-long holiday, with investors anticipating production cuts in the world’s top steel producer as the country fights smog. Prices of steelmaking raw materials iron-ore and coking coal fell, reflecting... 

Airbag, seat belt manufacturer pays R150m penalty on collusion charge

By: Irma Venter     9th October 2017 One of the world’s largest manufacturers of airbags, seatbelts and steering wheels has agreed to pay an administrative penalty of almost R150-million following its admission of having contravened the Competition Act. Autoliv has concluded a settlement agreement with the Competition Commission for... 

 Airbag, seat belt manufacturer pays R150m penalty on collusion charge

Sonangol aims to slash oil production costs with board revamp

By: Reuters     9th October 2017 Angola's State oil company Sonangol is aiming to slash breakeven costs on new oil production to as low as $20/bl $30/bl and make its contracts more attractive to investors and oil and gas companies, the company's chief Isabel dos Santos told Reuters. On the sidelines of the FT Africa Summit in... 

High level talks around Western Cape water crisis continue

By: Anine Kilian     9th October 2017 The Western Cape provincial government is again calling on all stakeholders and the public to do everything possible to reduce water use. The average level for dams across the province for the week starting October 9 is 36%, compared with 63% last year. 

Cornubia held up as vision for future, socially-minded developments

By: Anine Kilian     9th October 2017 Sugar producer Tongaat Hulett has won acclaim for transforming the landscape north of Durban by creating South Africa’s largest mixed-use integrated human settlement project. Tongaat Hulett Developments was named Visionary Client of the Year at the annual Consulting Engineers South Africa Aon... 

Bank of Baroda ordered to keep Gupta accounts open for now

By: News24Wire      9th October 2017 The high court ordered the Bank of Baroda on Monday to keep the accounts of Gupta-linked companies open, pending a final application which must be launched in 15 days. Pretoria high court judge Tati Makgoka granted the requested interdict against the bank, prohibiting the bank from deactivating... 

 Bank of Baroda ordered to keep Gupta accounts open for now

Eicher trucks to be assembled in SA in 2018

By: Irma Venter     9th October 2017 Eicher trucks will be assembled in South Africa in less than 12 months, says VE Commercial Vehicles South Africa (VECV SA) country head Surender Singh. “The project has a one-year lead time. We are currently in discussions to make it happen.” 

New 500 series to grow Hino SA’s market share significantly, says Trautmann

By: Irma Venter     9th October 2017 The new Hino 500 series should assist Hino South Africa (SA) to increase its share of the South African heavy commercial vehicle (HCV) market from 18% to around 22%, 23%, says Hino SA VP Ernie Trautmann. A new 6 X 4 model should also allow the new 500 series to “play in the extra-heavy commercial... 

New 500 series to grow Hino SA’s market share significantly, says Trautmann
The Hino 500 Wide Cab

Eqstra unveils cold trailer powered by truck engine

By: Irma Venter     9th October 2017 Eqstra Flexi Fleet, a division of Eqstra Fleet Management and Logistics, has partnered with New Way, Ice Cold Bodies, and Javgro Transport Refrigeration Solutions to design a cold trailer that will run “80% to 90% of the time” using power from the truck engine, says Javgro MD Kenan Gröss. In... 

Eqstra unveils cold trailer powered by truck engine

Tribunal approves settlement agreements with two chemicals companies

By: Anine Kilian     9th October 2017 The Competition Tribunal has approved settlement agreements between the Competition Commission and Investchem and Akulu Marchon/Chemical Initiatives (CI), with regard to price fixing and dividing of markets for key chemical input materials used to make detergents, cosmetics and toiletries. Akulu... 

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence 

By: African News Agency      9th October 2017 The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at State-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information... 

Sasol changes funding option to settle old BEE scheme debt

By: African News Agency      9th October 2017 Sasol on Monday announced that it would explore different funding options to settle the financing obligations of its failed broad-based black economic empowerment (BBBEE) ownership structure. Sasol said it will no longer pursue the preferred funding option of issuing up to 43-million ordinary... 

Makhura concerned at delays in Grayston Bridge collapse inquiry

By: African News Agency      9th October 2017 Gauteng Premier David Makhura on Sunday expressed concern at delays in the inquiry into the collapse of the Grayston Bridge in Johannesburg two years ago. The bridge on the M1 highway and the Grayston interchange collapsed on October 14, killing two people and injuring 19. An inquiry into the... 

Durban Point developer sues water sports clubs for millions in damages

By: News24Wire      9th October 2017 The Durban Point Development Company (DPDC), which has gone to court to evict two water sports clubs accusing them of standing in the way of a R35-billion upgrade of the harbour-mouth area near Vetch's beach, has turned up the legal heat and issued a summons for "special" damages of more than... 

Mining company has eyes on West Coast National Park, say activists

By: News24Wire      9th October 2017 Kropz mining company has told SANParks executive committee members that it may ask to extend its phosphate mine into the West Coast National Park. The company, formerly Elandsfontein Exploration and Mining, has also approached the department of mineral resources (DMR) to "protect our rights" over... 

DA aims to ban unrecyclable plastic shopping bags in Western Cape

By: News24Wire      9th October 2017 The DA-led Western Cape government has been mandated to pass legislation to prohibit the sale and distribution of plastic shopping bags that aren’t 100% recyclable. This after a motion to this effect was passed at the DA’s Western Cape Congress on Saturday. 

Khayelitsha MyCiti commuters no longer left in dark

By: News24Wire      9th October 2017 Khayelitsha commuters using the City of Cape Town’s MyCiti busses will no longer be left in the dark. The city’s Transport and Urban Development Authority has commenced with the electrification of the permanent MyCiTi bus stops along the N2 Express routes in Khayelitsha, which according to the... 

Angola's State oil firm saves $1.7bn after spending cuts

By: Reuters     9th October 2017 Angola's State-owned oil company Sonangol said on Friday it had saved $1.7-billion thanks to spending cuts since 2014 in response to lower crude prices. Oil companies across the world have made steep cuts to their annual capital expenditure over the last three years to cope with a slump in oil... 

Northam backs Fuel Cell and Hydrogen Energy Association’s awareness campaign

By: Natasha Odendaal     9th October 2017 Platinum miner Northam is supporting a campaign by US-based Fuel Cell and Hydrogen Energy Association (FCHEA) to raise awareness of clean energy technology. Globally, governments are being urged to support investment in technology to provide cleaner and more efficient sources of power in the... 

Northam backs Fuel Cell and Hydrogen Energy Association’s awareness campaign
Photo by Duane Daws
Northam CEO Paul Dunne

Fedusa wants to review PIC investments 

By: Reuters     9th October 2017 South African labour federation Fedusa said on Saturday it would consult rival federations over withdrawing an investment mandate the workers' pension fund has with one of the continent's largest asset managers, the Public Investment Corporation (PIC). The PIC manages South African government... 

Tanzanian President splits energy and mining in ministry shake-up

By: Reuters     9th October 2017 Tanzanian President John Magufuli split the energy and minerals ministry in two and appointed heads for the new ministries on Saturday, five months after sacking the previous minister. Two presidential committees had recommended the move to tighten supervision of natural resources in Tanzania,... 

LafargeHolcim names new CFO

By: Reuters     9th October 2017 Cement maker LafargeHolcim on Monday said Geraldine Picaud from French optics maker Essilor International would replace CFO Ron Wirahadiraksa next year. Picaud will take over on Feb. 1, 2018. Wirahadiraksa, who joined LafargeHolcim from Philips in December 2015, is leaving to pursue opportunities... 

MTN appoints new Seagha region VP

By: Anine Kilian     6th October 2017 MTN has appointed Ebenezer Asante VP of its expanded Southern, East Africa and Ghana (Seagha) region. The new Seagha region will comprise the mobile operations in Ghana, Uganda, Rwanda, Zambia, South Sudan, Botswana and Swaziland, as well as the MTN Internet service providers in Kenya, Namibia... 

Hedderwick resigns as Long4Life COO

By: Anine Kilian     6th October 2017 Kevin Hedderwick has resigned as COO and executive director of JSE-listed Long4Life to pursue personal interests. Hedderwick, who was previously CEO of Famous Brands, joined Long4Life in May. 

SAA, unions ink wage agreement

By: Natasha Odendaal     6th October 2017 National airliner South African Airways (SAA) and trade unions Uasa and the National Union of Metalworkers South Africa have signed the revised wage agreement for workers at maintenance arm SAA Technical (SAAT). The South African Transport and Allied Workers Union (Satawu), which had also signed... 

Dangote withdraws PPC offer

By: Natasha Odendaal     6th October 2017 Nigerian cement maker Dangote Cement has withdrawn its nonbinding expression of interest for the acquisition of South African cement producer PPC. In September, Dangote proposed a combination of the two companies. 

Minister offers snapshot of renewables generation

By: Terence Creamer     6th October 2017 Energy Minister Mmamoloko Kubayi reports that, as at the end of July, the combined installed generation capacity of renewable-energy independent power producers (IPPs) stood at more than 3 200 MW across 58 sites. In a reply to a Parliamentary question posed by Economic Freedom Fighters MP... 

Minister offers snapshot of renewables generation

Glencore to acquire Chevron’s South Africa, Botswana assets for $973m

By: Anine Kilian     6th October 2017 JSE-listed Glencore has entered into an agreement with Off The Shelf Investments Fifty Six (OTS) to acquire a 75% interest in Chevron South Africa, as well as a 100% interest in Chevron Botswana, for an aggregate consideration of $973-million. The assets comprise the interests of the Chevron... 

Glencore to acquire Chevron’s South Africa, Botswana assets for $973m

Numsa ends strike at South32 aluminum smelter

By: Reuters     6th October 2017 The National Union of Metalworkers of South Africa (Numsa) said on Friday its members were ending a strike at mining and metals group South32's aluminium smelter in KwaZulu-Natal province after they accepted its latest wage offer. Numsa said in a statement that its more than 600 members who had... 

South Africa 'in limbo' regarding the rapidly arriving Fourth Industrial Revolution

By: Keith Campbell     6th October 2017 South Africa is underprepared for the Fourth Industrial Revolution, also known as Industry 4.0. However, it is not badly underprepared. This was reported by AT Kearney Associate Mark Saunders at the Sixth Council for Scientific and Industrial Research Conference, in Pretoria, on Friday. Industry... 

Eskom unveils Maritz as latest interim CEO, Dladla returns to Rotek 

By: Terence Creamer     6th October 2017 The board at embattled State-owned electricity utility Eskom announced on Friday that Sean Maritz had been appointed interim CEO, replacing Johnny Dladla, who himself only took up the position in June, when the previous acting CEO, Matshela Koko, was placed on leave. In a statement headlined,... 

Eskom unveils Maritz as latest interim CEO, Dladla returns to Rotek
Photo by Duane Daws
Sean Maritz

Gigaba wants concerns over irregularities at State pension fund probed

By: Reuters     6th October 2017 Finance Minister Malusi Gigaba on Friday asked government pension fund Public Investment Corporation (PIC) to investigate concerns of irregularities at the asset manager to ensure transparency at the institutions. The PIC has been in the spotlight in recent weeks after reports that the finance... 

Gigaba wants concerns over irregularities at State pension fund probed
Photo by Duane Daws
Finance Minister Malusi Gigaba

New stock exchange, A2X, makes its debut

By: Anine Kilian     6th October 2017 South Africa’s newest stock exchange A2X Markets (A2X) made its debut on Friday with three listings and four of the industry’s brokers on board.   A2X competes directly with the JSE and provides an alternative platform for companies to secondary list and trade their shares.   Financial services... 

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