R/€ = 14.35 Change: -0.01
R/$ = 11.69 Change: -0.01
Au 1323.97 $/oz Change: -4.42
Pt 990.00 $/oz Change: -6.51


Seifsa worried about potential impact of proposed US steel import tariff increases

By: Megan van Wyngaardt     20th February 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has warned that the difficulties facing the local steel industry would continue to worsen in the year ahead if the US Department of Commerce's recommendation for a tariff of at least 53% on all steel imports from 12... 

Isuzu launches standalone South African business, new mu-X utility vehicle

By: Megan van Wyngaardt     16th February 2018 Isuzu Motors South Africa (IMSA) on Friday not only launched its standalone business at its manufacturing plant in Struandale, Port Elizabeth – apart from the General Motors brand, following the latter’s exit from South Africa last year –  but also showcased its new bakkie-derived sports utility... 

Infrastructure financing à la Ethiopia

By: Martin Zhuwakinyu     16th February 2018 Media reportage on Egypt and Ethiopia during the past few years has emphasised the simmering tension between the two countries. The bone of contention is the Grand Ethiopia Renaissance Dam (GERD), which the Horn of Africa is building on the headwaters of the Blue Nile, one of the two major... 

ANDRITZ to supply irrigation pumps for Egypt

     9th February 2018 International technology Group ANDRITZ has received an order from CONCORD for Engineering and Contracting, Cairo, Egypt, to supply 17 vertical line shaft pumps, including a set of spare parts, for a pumping station providing the water supply to the Nubaria irrigation canal, located south of the... 

Barminco makes strong turnaround

By: Megan van Wyngaardt     2nd February 2018 Underground hard-rock mining contractor Barminco on Friday reported earnings before interest, taxes, depreciation, and amortisation (Ebitda) of $75.6-million for the half year ended December 31, 2017, up 12.2% from the prior year. Barminco CFO Peter Bryant said the result was a significant... 

The growing importance of Gas in the Africa Mix, latest market trends

     1st February 2018 The 3rd Africa Gas Forum will be taking place on Monday, 19th February 2018 at the Sandton Convention Centre, Johannesburg, South Africa, and is affiliated to African Energy Indaba (AEI) as an official side event. With African economic growth in 2018 making a recovery after a difficult year,... 

Egypt, Ethiopia and Sudan hope to break Nile dam talks deadlock in one month 

By: Reuters     29th January 2018 The leaders of Ethiopia, Egypt and Sudan on Monday set a one-month deadline for laying out the ways to break a deadlock in talks over a mega dam Addis Ababa is building along its share of the Nile, an official said. Egypt and Ethiopia are at loggerheads over the construction of the Grand... 

Egypt to halt imports of LNG by end of FY 2017/18 – Petroleum Minister

By: Reuters     29th January 2018 Egypt plans to stop importing liquefied natural gas (LNG) by the end of the 2017/18 fiscal year ending in June as it speeds up production at recently discovered gasfields, Petroleum Minister Tarek El Molla said on Saturday. Egypt said previously that it would halt imports by the start of 2019. 

Rosatom competition winners tour nuclear facility

By: Nadine James     26th January 2018 Russian nuclear corporation Rosatom’s African subsidiary Rosatom Africa sponsored an all expenses paid trip to Russia for winners of the yearly student competition, held for the third time last year. The students visited the Novovoronezh nuclear power plant (NPP), as well as its training... 

Global crude steel output up 5.3% y/y in 2017

By: Schalk Burger     25th January 2018 Global crude steel production increased by 5.3% year-on-year to 1.69-billion tonnes in 2017. Output increased in all regions except for the Commonwealth of Independent States, where production remained flat at about 102.1-million tonnes, the World Steel Association reported this week. 

Egypt's Suez Canal revenues rise to $471.5m in Dec

By: Reuters     24th January 2018 Egypt's Suez Canal revenues rose to $471.5-million in December from $462.7-million in November, official data showed on Wednesday. The Suez Canal authority said earlier this month that revenues rose to $5.3-billion in 2017 from $5-billion in 2016. 

Tech revolution will see 'serious winners and losers', warns Davies

By: African News Agency      23rd January 2018 There will be "serious winners and losers" as a result of the Fourth Industrial Revolution and South Africa needs to be properly prepared and positioned to reap the benefits, or be saddled with the negative consequences. This was according to Trade and Industry Minister Dr Rob Davies who said... 

Ethiopia leader rejects call for World Bank arbitration in dam dispute 

By: Reuters     22nd January 2018 Ethiopia's Prime Minister Hailemariam Desalegn has rejected a call by Egypt for World Bank arbitration in a dispute over a hydroelectric dam Addis Ababa is building along its share of the Nile. The two countries are at odds over the construction of the Grand Ethiopian Renaissance Dam, with Cairo... 

Egypt, Ethiopia leaders say Nile dam must not ruin relations

By: Reuters     19th January 2018 Egyptian President Abdel Fattah al-Sisi pledged on Thursday not to let differences over a dam Ethiopia is building on the Nile river ruin relations with Addis Ababa. Ethiopia hopes the hydroelectric Grand Renaissance Dam will make it Africa's largest power exporter. 

UK reaffirms commitment to promote trade and investment with Africa

By: Keith Campbell     19th January 2018 The British government has again given the assurance that it desires a mutually beneficial and thriving trade relationship between the UK and Africa once the country has left the European Union (EU). This was affirmed by Trade Policy Minister (equivalent to Deputy Minister in South Africa) Greg... 

UJ researchers seek origin of stone that casts questions over solar system’s formation

By: Natasha Odendaal     11th January 2018 Researchers are still seeking answers to the origin of a small pebble found in south-west Egypt in 1996 after a 2013 analysis sparked “significant questions” on a widely held view about the primitive pre-solar dust cloud from which the Sun, Earth and other planets were formed. A 2013 study... 

Centamin exceeds FY17 production guidance, aims for solid 2018 growth

By: Mia Breytenbach     10th January 2018 LSE- and TSX-listed Centamin achieved “a strong operational finish” to 2017, with the company’s Sukari mine, in Egypt, having produced 154 298 oz of gold in the fourth quarter, resulting in full-year gold production of 544 658 oz – exceeding guidance of 540 000 oz. “All sections of the mine... 

ACWA Power reaches financial close on Egypt solar PV projects

By: Anine Kilian     9th January 2018 Saudi Arabian group ACWA Power has reached financial close on three solar photovoltaic (PV) projects, in Egypt. The projects, which are located in the southern Aswan province, are being developed under Round 2 of Egypt’s Feed-in-Tariff programme and are subject to 25-year power purchase agreements. 

Ethiopia signs $4bn deal to build 1 000 MW-geothermal power plants

By: Megan van Wyngaardt     20th December 2017 Ethiopia has signed an agreement to build two geothermal power plants at a combined cost of $4-billion, to be run by the country's first privately-owned utility. The Corbetti and Tulu Moye plants will produce a combined 1 000 MW of power upon completion in eight years time in the... 

Rigging the nuclear outcome?

By: Saliem Fakir     15th December 2017 At the time of writing, it appeared nuclear would be ramped through before the African National Congress elective conference, which starts on December 16. New Energy Minister David Mahlobo says we need nuclear. There have been a lot of platitudes about jobs and industrialisation, and that nuclear... 

Demand for ICT skills outstripping supply, survey shows

By: Schalk Burger     15th December 2017 Delays in information and communication technology (ICT) policy implementation, as well as a lack of improvement in basic education and current, coordinated data, are reducing the potential economic contribution of the ICT sector, according to the University of the Witwatersrand-based... 

Stratex invests more in Thani Stratex

By: Mariaan Webb     6th December 2017 London-listed Stratex International on Wednesday announced that it would invest another $200 000 in Thani Stratex Resources (TSR), which is exploring for gold in Africa and the Middle East. The investment will increase Stratex’s holding in TSR from 29.8% to 30.1% and forms part of TSR’s share... 

South Zambezi delivers Engineering services: for Africa by Africans 

By: Tracy Hancock     1st December 2017 South Zambezi corporate director Sikanyisiwe Phiri and Makoko Makgonye discuss its role in developing Africa 

Zimbabwe had been ripe for a military coup for a long time

By: Martin Zhuwakinyu     24th November 2017 The past few weeks have been hectic for Zimbabwe, our northern neighbour. Matters came to a head early this month, when Emmerson Mnangagwa was sacked as President Robert Mugabe’s joint number two in both government and the ruling Zanu-PF party, ostensibly for “disloyalty, disrespect,... 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     24th November 2017 Negotiations on how to conduct technical studies of the dam’s potential impact on the downstream countries – Egypt, Sudan and Ethiopia – have broken down. 

Gulf of Suez Wind Farm, Egypt

By: Sheila Barradas     24th November 2017 ENGIE and its joint venture partners are building a 250 MW wind farm in Rhas Gharib. 

Egypt, Ethiopia deadlocked on dam studies 

By: African News Agency      20th November 2017 Egypt and Ethiopia have reached a deadlock in further studies on the effects of the Ethiopian Grand Renaissance Dam (GERD) on downstream countries, Egyptian Al Ahram newspaper reports. This information was conveyed by Egyptian Foreign Minister Sameh Shoukry to US Secretary of State Rex Tillerson... 

Financing secured for solar projects in Egypt

By: Nadine James     17th November 2017 European photovoltaic (PV) specialist Scatec Solar announced that it had secured financing of $335-million to fund its portion of the development of six 400 MW utility scale PV power plants which will be located in the Benban solar park in the City of Aswan in Egypt. The company secured funding... 

Stratex terminates CEO employment following blocked Crusader deal

By: Mariaan Webb     7th November 2017 Aim-listed Stratex International has confirmed that Marcus Engelbrecht is no longer CEO. In an update to shareholders following the results of last week’s general meeting where shareholders passed a resolution to remove Engelbrecht from the junior miner’s board, Stratex confirmed on Monday that... 

Centamin lifts Q3 Ebitda by 57% q/q

By: Creamer Media Reporter      2nd November 2017 Egypt-focused Centamin’s earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 57% quarter-on-quarter to $103.6-million for the third quarter ended September 30. The higher Ebitda was the result of an increase in gold sales to 150 273 oz and a higher average... 

Global oil exploration dips to 60-year low

By: Natasha Odendaal     1st November 2017 With exploration activity waning, global oil and gas exploration has reached an historic low, according to the latest PwC Africa oil and gas review 2017, which highlights just three new major discoveries in Africa during 2016 and the first half of 2017, compared with 11 in 2015. In 2016, there... 

Rotor blade manufacturing facility officially opens in Tangier

     27th October 2017 Wind turbine components manufacturer Siemens Gamesa Renewable Energy (SGRE) officially inaugurated its new rotor blade factory in Tangier, Morocco, earlier this month, at an event chaired by Moroccan Minister of Industry, Investment, Trade and Digital Economy, Moulay Hafid El Alamy, and Siemens... 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     27th October 2017 The project is 60% complete. 

US to strengthen energy partnerships in Africa, says US Energy Secretary

By: Kim Cloete     25th October 2017 US Energy Secretary Rick Perry says his government is committed to strengthening its energy partnerships with African countries, but has called for a clear and transparent regulatory environment. “There is no more important message that governing bodies can send to both the US government and the... 

ASEAN – African manufacturers, tech firms to meet at Expo and Forum

     25th October 2017 Manufacturers and technology firms from across South-East Asia and Africa are set to converge in Johannesburg next month for the first Africa-ASEAN Business Expo (AABE) and Forum. 

Global steel production for 9 months to Sept up 5.6% y/y

By: Anine Kilian     23rd October 2017 Global crude steel production for the first nine months of this year reached 1.27-billion tonnes – a 5.6% year-on-year increase. The World Steel Association (worldsteel) on Monday reported that Asia had produced 876.3-million tonnes of crude steel in the first nine months of this year, an... 

Hydro-economics: Egypt, Ethiopia and the Nile

By: News24Wire      23rd October 2017 Water ministers from Egypt, Sudan and Ethiopia have gathered last week to discuss how Africa's largest hydroelectric dam will affect water distribution and access to the Nile. The Grand Ethiopian Renaissance Dam (GERD) is 60% complete and has yet to go into operation. The $4.8-billion megaproject... 

Hydraulics company expands Middle Eastern presence

     20th October 2017 UK-based hydraulic tools designer, manufacturer and supplier Hi-Force has opened a new office in the Khalidia area of Dammam, Saudi Arabia. According to a statement released by Hi-Force last month, the new facility will stock a range of Hi-Force products that provides the market with the fastest... 

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