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Latest News

R1bn Eastern basin treatment plant processes 94 Mℓ/d of AMD 

     9th March 2017 Water and Sanitation Minister Nomvula Mokonyane has officially visited the Eastern Basin acid mine drainage treatment plant, in Springs, where she heaped high praise on the facility and its operators. 

Exxon to buy stake in gas block offshore Mozambique for $2.8bn

By: Reuters     9th March 2017 Exxon Mobil Corp said on Thursday it would buy a 25% stake in a natural gas-rich block, offshore Mozambique, from Italy's Eni for $2.8-billion in cash. The offshore gas reserves discovered by Eni in Mozambique are large enough to need a giant liquefied natural gas (LNG) export plant. 

Australia's FAR says Senegal oilfield could start earlier than expected

By: Reuters     9th March 2017 Australia's FAR, a partner in an oilfield off Senegal, on Thursday said the project could start producing before 2021, earlier than previously touted, and at a higher rate than flagged before. Operator Cairn Energy and FAR released updates this week following drilling on their latest well, SNE-5,... 

Zambia's power costs 'defining issue' for mining – chamber

By: Reuters     9th March 2017 Zambia's electricity costs will be the "defining issue" for the mining sector this year and beyond, Chamber of Mines President Nathan Chishimba said on Thursday. The southern African country, which is a major copper producer, is struggling to maintain power supplies as a severe drought has caused... 

Aspen posts good interim results, despite headwinds

By: Megan van Wyngaardt     9th March 2017 Pharmaceutical company Aspen expects to report an overall stronger underlying performance in the second half of the current financial year, after a tough six months to December 31. During the six months under review, normalised headline earnings a share increased by 6% to 692c. 

Echo Polska posts solid maiden results

By: Megan van Wyngaardt     9th March 2017 In its first half-year since listing on the JSE, international real estate investment trust Echo Polska (EPP) has posted distributable earnings of €34-million, while declaring a dividend per share of €0.31, 2.2% ahead of its forecast. "We are building a national champion that leverages its scale... 

Echo Polska posts solid maiden results

Seifsa calls for entries for yearly excellence awards

By: Megan van Wyngaardt     9th March 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has invited manufacturers operating in the metals and engineering sector to submit their entries for the 2017 Seifsa Awards for Excellence. The awards are open to all companies in the sector, including Seifsa non-members. 

Du Plessis to step down as Rio chair to join BT Group

By: Esmarie Swanepoel     9th March 2017 Diversified major Rio Tinto has confirmed that chairperson Jan du Plessis will retire after the completion of an "orderly succession process". British multinational group BT Group announced earlier on Thursday that Du Plessis would join its board as nonexecutive director on June 1, and as... 

Du Plessis to step down as Rio chair to join BT Group
Photo by Duane Daws
Jan du Plessis

Trevor Manuel appointed Old Mutual Emerging Markets chair

By: Megan van Wyngaardt     9th March 2017 Financial services provider Old Mutual has appointed former Finance Minister Trevor Manuel as Old Mutual Emerging Markets (OMEM) chairperson, as Old Mutual group CEO Bruce Hemphill will step down from the position, but remain on the OMEM board. Manuel will oversee the establishment of the... 

Trevor Manuel appointed Old Mutual Emerging Markets chair
Photo by Duane Daws
Trevor Manuel

Murray & Roberts appoints new FD

By: Megan van Wyngaardt     9th March 2017 Murray & Roberts (M&R) has appointed Daniël Grobler as its new group FD, effective April 1, to succeed retiring Cobus Bester who was in the position for six years. A chartered accountant, Grobler has been employed in various financial and leadership functions within the group since 2010. Most... 

Murray & Roberts appoints new FD
Daniël Grobler new group FD

Coal-boosted Exxaro’s earnings soar

By: Martin Creamer     9th March 2017 Diversified mining company Exxaro delivered a strong performance in the 12 months to December 31, with its higher net operating profit boosted by higher coal selling prices. The headline earnings of the JSE-listed company, headed by CEO Mzolisi Mgojo, were 185% higher at R4 621-million. 

Coal-boosted Exxaro’s earnings soar
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Outa, pilots association want SAA chair declared a ‘delinquent director’  

By: Anine Kilian     8th March 2017 Organisation Undoing Tax Abuse (Outa) and the South African Airways Pilots Association (Saapa) have filed a court application seeking to declare South African Airways (SAA) chairperson Dudu Myeni a “delinquent director”. Outa filed the application at the North Gauteng High Court on Tuesday. 

Turkey takes US to WTO over duties on pipe and tube products

By: Reuters     8th March 2017 Turkey has launched a complaint at the World Trade Organization to challenge US anti-subsidy duties on Turkish pipe and tube products, the WTO said on Wednesday. The products include oil country tubular goods, welded line pipe, heavy walled rectangular welded carbon steel pipes and tubes and... 

Eskom seeks damages from Democratic Alliance

By: Anine Kilian     8th March 2017 State-owned Eskom has lodged papers in the High Court against the Democratic Alliance (DA) for wrongful and defamatory actions by the party against the company and its interim CEO Matshela Koko, the entity said on Wednesday. The DA published an article on its website in late January titled, “DA... 

Exxaro begins mineral sands exit

By: Martin Creamer     8th March 2017 Diversified mining company Exxaro Resources on Wednesday announced its intention to begin exiting its stake in mineral sands company Tronox. The Exxaro board would explore available alternatives to monetise the Tronox shareholding in a thoughtful, efficient and staged process over time, the... 

Exxaro begins mineral sands exit

Earthlife’s application to stop nuclear waste smelter construction fails

By: Megan van Wyngaardt     8th March 2017 Environmental activist organisation Earthlife Africa has lost a court application against the South African Nuclear Energy Corporation (Necsa) to stop the construction and use of a small nuclear waste smelter. On Tuesday, Judge Pierre Rabie dismissed Earthlife’s application in the High Court in... 

Mali to build $25m solar plant with loan from AfDB

By: Megan van Wyngaardt     8th March 2017 Mali’s first utility-scale solar photovoltaic (PV) power plant, the 33 MW Segou project, which will be built at a cost of $25-million. The project will increase the country¹s installed capacity from renewable resources and will generate 52.7 GWh/y, or about 10% of current generation capacity,... 

High Court rules in favour of Earthlife Africa in South Africa’s first climate change case 

By: Kim Cloete     8th March 2017 The North Gauteng High Court has ruled in favour of environmental justice organisation, Earthlife Africa (ELA), on the basis that the climate change impacts of the proposed Thabametsi coal-fired power station, were not  properly considered. In South Africa’s first climate change court case, ELA... 

JSE-listed infrastructure fund seeks capital for next acquisitions

By: Terence Creamer     8th March 2017 JSE-listed infrastructure investment holding company GAIA Infrastructure Capital has appetite for further funds for investments into energy, transport, as well as water and sanitation assets. CEO Prudence Lebina tells Engineering News Online that the company, which invests only in operational... 

JSE-listed infrastructure fund seeks capital for next acquisitions
GAIA Infrastructure Capital CEO Prudence Lebina

AFD sets aside €1.3bn to support high social impact South African projects

By: Terence Creamer     8th March 2017 French development financier Agence Française de Développement (AFD) expects to disburse €1.3-billion in funding support to South African projects in the coming five years as part of a newly approved operational strategy for the country. AFD says the funding will take the form of nonsovereign... 

SolarReserve completes Netcare rooftop solar roll-out

By: Megan van Wyngaardt     8th March 2017 Energy developer SolarReserve has completed the roll out of commercial-sized solar photovoltaic rooftop installations at 15 of healthcare company Netcare’s facilities. Installations have been completed at the Netcare 911 head office, in Midrand, and 14 Medicross family medical and dental centres... 

SolarReserve completes Netcare rooftop solar roll-out

One month left for public to comment on OHASA regulations

By: Megan van Wyngaardt     8th March 2017 Companies that employ people in high-risk areas and the public in general, have one month left to comment on the draft ergonomic regulations set to be promulgated in the Occupational Health and Safety Act (OHASA). In January, Labour Minister Mildred Oliphant gazetted her intention to introduce... 

Gauteng government sets R44bn aside for infrastructure developments 

     8th March 2017 Creamer Media's Chanel de Bruyn speaks to Creamer Media Deputy Editor Online Natasha Odendaal about the key spending areas set out in the Gauteng Provincial Government’s budget for 2017/18. 

Gauteng government sets R44bn aside for infrastructure developments
Gauteng government sets R44bn aside for infrastructure developments

Peters fires PRASA board 

By: African News Agency      8th March 2017 Transport Minister Dipuo Peters on Wednesday, dissolved the Passenger Rail Agency of South Africa (Prasa) board with immediate effect. This was revealed in Parliament when acting transport department director general Mathabatha Mokonyama read out a letter from Peters during a portfolio committee... 

There will be no Brexit ‘cliff edge’ in UK-SA relations

By: Terence Creamer     8th March 2017 Outgoing British High Commissioner to South Africa Dame Judith Macgregor says there will be no “cliff edge” in the trade and investment relationship between the UK and South Africa when Britain leaves the European Union (EU), arguing that there is even potential to strengthen the relationship... 

There will be no Brexit ‘cliff edge’ in UK-SA relations
Photo by Duane Daws
Dame Judith Macgregor

Ascendis notes growth through acquisitions, will remain acquisitive

By: Megan van Wyngaardt     8th March 2017 Health and care brands group Ascendis Health increased its revenue by 66% to R3.1-billion in the half year to December 31, as the business significantly increased international sales following two major acquisitions in Europe. This included the acquisitions of Cyprus-based pharmaceutical... 

Brown calls for Eskom to bring Dentons report to Parliament 

By: African News Agency      8th March 2017 Eskom should be called before Parliament to brief MPs on the Dentons report, Public Enterprises Minister Lynne Brown said on Wednesday. “Eskom should come and run you through the report,” the minister told the portfolio committee on public enterprises after she was asked for her view on the... 

Brown calls for Eskom to bring Dentons report to Parliament
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

UN World Water Development Report to be launched in Durban

By: Megan van Wyngaardt     8th March 2017 President Jacob Zuma will launch the seventeenth edition of the United Nations (UN) 'World Water Development Report', focusing on the critical role of wastewater management for vibrant economies, resilient societies and the maintenance of healthy environments, at the World Water Day Summit, in... 

Ford tests large-scale 3D printing

By: Anine Kilian     8th March 2017 Ford Motor Company is exploring how large one-piece automotive parts, like car spoilers, can be printed for prototyping and future production vehicles. Ford is the first automaker to pilot the Stratasys Infinite Build three-dimensional (3D) printer.   Capable of printing car parts of practically... 

Vodacom Tanzania says IPO to start on March 9

By: Reuters     8th March 2017 The Tanzanian unit of telecoms firm Vodacom will start a more than month-long initial public offering (IPO) on March 9 and expects its shares to start trading in mid-May, the firm said on Tuesday. The company, a subsidiary of South Africa's Vodacom and the biggest operator in Tanzania, aims to... 

Business confidence falls in February – Sacci

By: Reuters     8th March 2017 Business confidence in South Africa declined in February from the prior month, weakened by lower trade volumes and retail sales, a survey showed on Wednesday. The South African Chamber of Commerce and Industry's (Sacci) monthly business confidence index (BCI) fell to 95.5 in February from 97.7 in... 

Chevron field in Angola starts oil production – Sonangol

By: Reuters     8th March 2017 The Chevron operated Mafumeira Sul field in Angola began oil production in October 2016 and will start supplying gas for export in the second quarter of this year, state energy firm Sonangol said on Wednesday. The Mafumeira Sul project has the capacity to produce 150 000 bbl of oil and... 

Altron selects MTN’s Nyati to replace Venter as CEO, narrows FY16 losses

By: Natasha Odendaal     8th March 2017 Following a rigorous recruitment process and a global search for a suitable candidate, MTN South Africa (SA) CEO Mteto Nyati has been appointed the new group CEO of JSE-listed Allied Electronics (Altron), effective no later than July 1. Nyati, who will succeed outgoing Altron CEO Robbie Venter,... 

Altron selects MTN’s Nyati to replace Venter as CEO, narrows FY16 losses
Photo by Duane Daws
Altron outgoing CEO Robert Venter

EnviroServ lashes out at DEA over Shongweni landfill 

By: African News Agency      8th March 2017 Waste management giant EnviroServ has accused the Department of Environmental Affairs (DEA) of bias and fuelling a “trial by media” through its handling of the Shongweni landfill. It further accused the DEA of having decided, despite no formal resolution or action taken, to suspend the company’s... 

Mandela Bay on brink of disaster as water crisis deepens

By: News24Wire      8th March 2017 The Nelson Mandela Bay municipality is on the brink of being declared a disaster area as the water crisis deepens, mayor Athol Trollip said on Tuesday. "Despite saving water, our water is running out. It's not raining and we could run out of water. If we run out of water, we have an absolute... 

European groups unveil new air/ground urban transport concept

By: Keith Campbell     8th March 2017 European aerospace giant Airbus and Italy-based transport design, engineering and production services company Italdesign have combined to design a new approach to meeting future traffic snarl-ups in major cities, which they have designated Pop.Up. This was unveiled on Tuesday at the... 

European groups unveil new air/ground urban transport concept
Photo by Airbus
This image shows a passenger capsule coupled to a ground module and a second passenger capsule coupled to an air module

4AX appoints four new directors

By: Anine Kilian     7th March 2017 South African securities exchange 4 Africa Exchange (4AX) has appointed four new independent, nonexecutive directors – Mfundiso Johnson Ntabankulu Njeke, Thabo Vincent Mokgatlha, Deon Rossouw and Theo Vorster – to its board.   “Each of these appointees will play an active role in offering... 

They now call me Mr 350% – defiant PRASA CEO

By: News24Wire      7th March 2017 The Passenger Rail Agency of South Africa (PRASA) has twice tried to return suspended acting CEO Collins Letsoalo to sender, with no success. And a week after he was again handed his marching orders, a defiant Letsoalo has insisted that the ongoing salary debacle is not his fault. 

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