R/€ = 15.74 Change: 0.02
R/$ = 13.52 Change: 0.05
Au 1268.92 $/oz Change: 4.06
Pt 867.00 $/oz Change: 2.24


Mineral Deposits investor says won't take Eramet bid as market eyes better offer

By: Reuters     8th June 2018 The second-largest investor in Australia's Mineral Deposits said it would not accept a takeover bid by Eramet SA, as Mineral Deposits' shares surged, signalling investors expect the French miner to make a higher offer. Eramet made an all-cash takeover bid for its joint venture partner in a mine... 

ATON questions logic of M&R’s proposed ‘poison pill’ Aveng deal

By: Terence Creamer     31st May 2018 Investment company ATON, which is preparing a mandatory offer to buy all the shares in Murray & Roberts (M&R) it does not already own, has reiterated it steadfast opposition to M&R’s proposed acquisition of Aveng, describing the proposed Aveng transaction as a “poison pill” to prevent a takeover... 

M&R says meeting set with ATON to discuss ‘highly strategic’ Aveng deal

By: Terence Creamer     30th May 2018 Murray & Roberts (M&R) confirmed on Wednesday that it would be meeting with its largest single shareholder, ATON, to discuss the merits of M&R’s proposed acquisition of Aveng, which it continues to describe as “highly strategic”. No date has been provided for the meeting, which is being pursued... 

Uganda power distributor Umeme to spend $1.2bn to expand grid

By: Reuters     16th May 2018 Ugandan power distributor Umeme plans to spend $1.2-billion in the next seven years to revamp and expand the grid and has hired an adviser to explore options for raising the money, the company's chief executive said on Wednesday. The investments will be used to prepare for an expected rise in... 

PIC, Aton lift shareholding in M&R

By: Marleny Arnoldi     17th April 2018 The Public Investment Corporation (PIC) has increased its interest in JSE-listed Murray & Roberts (M&R) to 20.15% of the total issued ordinary shares of the company.  

Aton makes formal offer to M&R shareholders

By: Simone Liedtke     10th April 2018 German family-owned business Aton has made a formal offer to Murray & Roberts (M&R) shareholders to acquire all shares in M&R at R15 a share. The company on Tuesday said it had already acquired a further 3.1% stake in M&R from a top ten shareholder and that it will soon buy a further 6.5%... 

M&R’s shares rise 50% as Germany’s Aton plans buyout 

By: Simone Liedtke     26th March 2018 JSE-listed Murray & Roberts’ (M&R’s) share price rose by more than 50% on Monday morning as it announced that German family owned business Aton plans to buy all shares in the company for R15 apiece. M&R on Monday said Aton, which already holds 33% of M&R’s shares, had informed the group of its... 

Basil Read CEO upbeat about capital raise, company prospects

By: Megan van Wyngaardt     7th February 2018 Although still in the grips of a financial predicament, owing to poor construction prospects in South Africa, paired with bad debts and cash-depleting projects, local construction company Basil Read’s CEO Khathutshelo Mapasa tells Engineering News Online that he is confident about company’s... 

Group Five to exit manufacturing business, construction businesses face axe

By: Megan van Wyngaardt     7th November 2017 South African construction giant Group Five will exit construction businesses that it does not believe can be turned around on a sustainable basis. “[Businesses] which are not core to [our] revised strategy . . . will either be sold or closed,” the company said on Tuesday, adding that its... 

Greenbay makes R1.6bn offer for Group Five’s European assets

By: Anine Kilian     16th October 2017 JSE-listed Group Five has received an unsolicited R1.6-billion offer from global real estate firm Greenbay Properties for its European division. Group Five said in a statement that the intention letter it received from Greenbay included confirmation that it had R1.6-billion cash held in escrow by... 

Mining industry must innovate to remain relevant – Baleni

By: Anine Kilian     5th October 2017 South Africa’s mining industry must be creative and innovative to remain relevant, says F11 Consulting director Frans Baleni. “For example, mine dumps, which are in abundance, can also create mine opportunities. [Industry] must also embrace mechanisation, people are ready for it. There are... 

Allan Gray increases shares in Caledonia

By: Anine Kilian     5th September 2017 Triple-listed gold miner Caledonia Mining’s largest significant shareholder, investment services provider Allan Gray, has increased its interest in the company from 1.17-million common shares (11.06% of the shares in issue) to 1.26-million common shares (11.91% of the shares in issue), making... 

Group Five CEO prioritising culture of accountability after dismal 2017 performance

By: Terence Creamer     22nd August 2017 Group Five CEO Themba Mosai has moved to assure shareholders that the new leadership at the embattled construction company is prioritising “accountability and consequence management” in light of a dismal 2017 performance, which saw the JSE-listed company report financial results that were far... 

PIC lifts stake in Group Five to above 20%

17th July 2017 Construction company Group Five on Monday reported that the State-owned Public Investment Corporation (PIC) had increased its stake in the company to 20.135%. Group Five shareholders are due to meet on July 24 to vote in new board members. 

Five directors step down in Group Five board shake-up 

By: Natasha Odendaal     23rd June 2017 As construction giant Group Five officially issues a notice of a planned extraordinary general meeting (EGM) on July 24, to reconstitute the board, five directors are set to step down. Effective July 24, independent nonexecutive directors Vincent Rague, Willem Louw and Justin Chinyanta, along... 

Allan Gray clients now hold 15% of Implats shares

By: Anine Kilian     20th June 2017 Clients of Allan Gray have increased their shareholding in Impala Platinum (Implats). Implats on Tuesday said Allan Gray’s clients now hold 15.0037% of Implats’ ordinary shares. 

Nhlanhla Nene appointed as chairperson of new investment firm, Arise

By: African News Agency      30th May 2017 Former finance minister Nhlanhla Nene was on Tuesday appointed to the supervisory board of newly-formed Cape Town-based investment firm, Arise. Nene was fired as finance minister by President Jacob Zuma in December 2015 with a promise of a position at the Brics bank which never materialised. He... 

Gold price could appreciate once growth in Asia recovers – investment firm

By: Samantha Herbst     24th August 2016 Asia’s seemingly imminent economic recovery could spark an increase in gold prices, according to investment management firm Allan Gray portfolio manager Sandy McGregor, who connects the gold price decline, which started in 2012, with Asia’s economic woes and its reputation as the world’s biggest... 

Allan Gray appoints former finmin Nene to board

By: Reuters     18th April 2016 Asset management group Allan Gray has appointed former Finance Minister Nhlanhla Nene as a nonexecutive director, hoping to tap his strategic and leadership skills, it said on Monday. President Jacob Zuma fired Nene, who was keen to rein in government spending in Africa's most industrialised... 

Allan Gray increases African Rainbow Minerals stake

By: Creamer Media Reporter      15th January 2016 JSE-listed African Rainbow Minerals on Friday announced that Allan Gray had increased its interest in ordinary shares. After clients indicated interest in the mining company, Allan Gray aggregately increased its stake to some 20.0677%. 

Company Announcement: New intelligent building procurement model in SA financial services sector

27th February 2013 Corporate South Africa is seeing a move to a new engagement/procurement model around the role of IT and facilities in real estate developments, according to Bradley Hemphill, Director of EES, an ISO 9000 professional engineering and management company 

Telkom, KT deal denied to further SA’s broadband ambitions 

By: Natasha Odendaal     1st June 2012 The potential strategic deal between South Korean firm KT Corporation and local telecommunications company Telkom has failed to gain the support of the South African government. Communications Minister Dina Pule told Telkom this week that, following a presentation to Cabinet on Wednesday, the... 


Latest News


Latest Videos



Engineering News is a product of Creamer Media.

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa

Read more


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


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

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close