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Chemicals factory to support value chain opened in Maluti-a-Phofong SEZ

By: Schalk Burger     6th July 2018 An industrial chemicals factory opened in the Maluti-a-Phofong special economic zone (SEZ), in Harrismith, Free State, will play a key intermediate role in supporting the value chains that pass through this transport node, says the Industrial Development Corporation (IDC) Chemicals and Textiles... 

Zambian Parliament recommends private investment in State firms

By: Reuters     27th June 2018 Zambia must consider seeking equity partners to recapitalise its State-owned firms, a Parliamentary committee recommended on Tuesday. Zambia transferred the shares of 29 of its 33 State-owned companies in 2015 from the ministry of finance to the government's investment arm, the Industrial... 

IDC denies politically connected elite has ‘hijacked’ black industrialist scheme

By: Terence Creamer     22nd June 2018 South Africa’s Industrial Development Corporation (IDC) has defended the integrity of the credit approval processes for its flagship Black Industrialist Programme and has given the assurance that the scheme has not been captured by individuals with connections to the governing African National... 

IFC signs $34m financing agreement for Zambia solar project

By: Marleny Arnoldi     22nd June 2018 The International Finance Corporation (IFC) has signed a $34-million financing agreement with Enel, the Industrial Development Corporation of Zambia and the European Investment Bank for the construction of the 34 MW Ngonye solar plant, in Zambia.  

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

Battery metals industry dependent on ‘flavour of the month’

By: Simone Liedtke     6th June 2018 With nearly every forecast predicting higher battery use in the years ahead, especially lithium-ion batteries to power new and existing technologies, demand for its component metals may be dependent on what some title “the flavour of the month”. 

Interest in IFC’s solar procurement solution growing across Africa

By: Terence Creamer     6th June 2018 The International Finance Corporation (IFC) reports that its programme to support African governments and utilities in procuring solar photovoltaic (PV) capacity from independent power producers (IPPs) has made significant headway in four countries, with construction of the first project under... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

Gupta-owned Shiva Uranium's business rescue practitioners throw in towel

By: News24Wire      31st May 2018 The business rescue practitioners (BRPs) appointed to save Gupta-owned company Shiva Uranium have resigned with immediate effect after their relationship with the state-owned Industrial Development Corporation (IDC) - the company's largest creditor – turned sour. Louis Klopper and Robert Knoop... 

Kropz clinches offtake from phosphates project

By: Martin Creamer     21st May 2018 Plant nutrient minerals development company Kropz, which is developing the Elandfontein phosphates mining and processing project in the Western Cape, has secured several offtake agreements ahead of production. The cornerstone offtake agreement, for about a third of its production at market prices... 

Radebe officiates at launch of R9.4bn Xina Solar One plant

By: Simone Liedtke     18th May 2018 Xina Solar One, which is owned by a consortium between Abengoa, the Industrial Development Corporation, the Public Investment Corporation and the Xina Community Trust, was officially launched near Pofadder, in the Northern Cape, on Friday. The 300 ha solar thermal plant, which was built by... 

Zambia to complete 50 MW World Bank solar project in September

By: Reuters     8th May 2018 Zambia will complete its first large-scale 50 MW solar power generation plant in September this year as the nation battles a power deficit which threatens industrial output, a state-owned agency said on Tuesday. The electricity shortfall has forced Africa's second-largest copper producer to... 

Zambia shortlists five firms for majority stake in oil refinery

By: Reuters     16th April 2018 Zambia has short-listed five companies including Britain's Glencore Energy and Sahara Energy Resources to buy a majority stake in its only oil refinery, a state-owned firm said on Monday. The government-owned Industrial Development Corporation (IDC) has said it wants a strong strategic equity... 

Resgen secures R540m IDC loan

By: Marleny Arnoldi     16th April 2018 The Industrial Development Corporation of South Africa (IDC) has approved JSE- and ASX-listed Resource Generation’s (Resgen’s) request for R540-million in funding.  

Focused on next five years

6th April 2018 As it heads into the next five years with 2017/18 financial year having come to a close, State-owned development finance provider Small Enterprise Finance Agency (sefa) will focus on delivering financial assistance that responds to current market needs. In the 2018/19 financial year, the agency... 

Palladium dubbed 'unobtainium', rhodium 'next palladium'

By: Martin Creamer     7th March 2018 While diesel demonisation continues to the detriment of platinum, several key steps that will benefit platinum are poised to be taken in the next 18 to 24 months. The first of these key steps is the substitution of platinum for palladium in gasoline systems, against the backdrop of palladium... 

Outlook good for cash-flush Merafe

By: Martin Creamer     6th March 2018 Chrome and ferrochrome company Merafe, which has zero debt and R600-million cash on hand, sees ferrochrome prices being supported by the cost of production in China, solid projected stainless steel production growth and the absence of any major additional ferrochrome supply capacity coming on... 

Soaring Merafe goes into cashflow orbit, lifts dividend 151%

By: Martin Creamer     5th March 2018 Chrome and ferrochrome company Merafe delivered exceptional results for 2017, setting new production, revenue, earnings before interest tax depreciation and amortisation (Ebitda) and dividend records. Cashflow from operating activities rocketed 179% to R1 400-million, compared with R502-million... 

Implats harvests loss shafts, mulls more investment in profitable shafts 

By: Martin Creamer     1st March 2018 The 40 000-employee Impala Platinum Mine in Rustenburg, which is 'harvesting' unprofitable shafts while studying additional investment opportunities in the many profit-making shafts within its well-endowed, long-life lease area, has set in motion a process to cut costs by R1-billion. Harvesting,... 

Basil Read shares rise as it successfully completes rights offer

By: Megan van Wyngaardt     26th February 2018 JSE-listed construction company Basil Read's shares on Monday rose 4.17%, after reporting that its rights offer, aimed at raising R300-million, received full support. The company issued 1.36-billion shares at 22c apiece - a discount to the 65c apiece closing share price on January 26. 

South Africa to pilot first utility-scale vanadium redox flow battery

By: Nadine James     23rd February 2018 Aim-listed miner Bushveld Minerals’ 84%-owned energy subsidiary, Bushveld Energy, will be commissioning its first utility-scale vanadium redox flow battery (VRFB) for testing by State-owned power utility Eskom in May, says Bushveld Energy CEO Mikhail Nikomarov. Nikomarov notes that the... 

South Africa to pilot first utility-scale vanadium redox flow battery

By: Nadine James     23rd February 2018 Aim-listed miner Bushveld Minerals’ 84%-owned energy subsidiary Bushveld Energy will be commissioning its first utility-scale vanadium redox flow battery (VRFB) for testing by State-owned power utility Eskom in May, says Bushveld Energy CEO Mikhail Nikomarov. 

Energy policy certainty needed to bolster manufacturing growth in Africa

By: Anine Kilian     21st February 2018 More policy certainty is required to support energy projects and to build a strong manufacturing sector in Africa, says engineering and infrastructure advisory group Aurecon African market energy director Elekanyani Ndlovu. Speaking as part of a panel discussion at the Africa Energy Indaba on... 

Tribunal approves Barnes Southern Palace's acquisition of Scaw

By: Simone Liedtke     19th February 2018 The Competition Tribunal has conditionally approved the transaction, in terms of which holding company Barnes Southern Palace plans to acquire Scaw South Africa from the Industrial Development Corporation (IDC). To address information sharing concerns, the transaction was approved subject to a... 

Eskom looking beyond shareholder to tackle ‘unsustainable’ capital structure 

By: Terence Creamer     30th January 2018 Having secured “in principle” commitments from funders to enable Eskom to meet looming debt obligations of R20-billion by the end of February, the new leadership at the power utility has started weighing various options, including asset sales, for shoring up the group’s fragile balance sheet.... 

Commission recommends conditional Barnes Southern Palace, Scaw merger approval

By: Megan van Wyngaardt     29th January 2018 The Competition Commission has recommended that the Competition Tribunal approve the proposed transaction, with conditions, whereby Barnes Southern Palace intends to acquire steel maker Scaw from the Industrial Development Corporation (IDC). Barnes Southern Palace is a consortium involving the... 

Basil Read's shares fall on announcement of discounted rights offer terms

By: Megan van Wyngaardt     29th January 2018 JSE-listed construction company Basil Read's shares took a 23.08% tumble on Monday morning, after it released the terms of its proposed R300-million rights offer, which has been significantly discounted. The proposal includes the issue of 1.36-billion shares at 22c apiece, compared with the... 

Anglo to sell New Largo assets to Seriti, partners for R850m

By: Anine Kilian     29th January 2018 LSE- and JSE-listed Anglo American is making further progress with its strategy of disposing of its Eskom-tied coal assets, announcing on Monday that it will sell its New Largo thermal coal assets, which are owned by its 73%-held subsidiary Anglo American Inyosi Coal, to New Largo Coal, for... 

Alphamin raises C$56m to develop DRC tin project

By: Schalk Burger     23rd January 2018 Tin miner Alphamin Resources has raised C$56-million, or about $44.3-million, through the issue of nearly 175-million shares at C$0.32 a share to continue the development of the Bisie tin project, in North Kivu, in the Democratic Republic of Congo. The offering included the private placement of... 

Bushveld Minerals upbeat about year ahead

By: Megan van Wyngaardt     22nd January 2018 Aim-listed Bushveld Minerals made “tremendous strides” during the fourth quarter of 2017, which was marked by a strong financial performance from its Bushveld Vametco operations. Supported by a strong vanadium price environment – the ferrovanadium price averaged $33/kg for the 12 months to... 

IDC assessing 21 applications under R1.5bn downstream steel incentive

By: Terence Creamer     19th January 2018 The Industrial Development Corporation (IDC) is currently assessing 21 potential transactions, worth a combined R437-million, arising from applications for support under a R1.5-billion industrial financing scheme set up in 2017 to support manufacturers of value-added steel products. The... 

On-The-Air (19/01/2018) 

By: Martin Creamer     19th January 2018 Diamond mining in the diamond city of Kimberley has been given a sparkling new lease of life thanks to smart new technology; The Industrial Development Corporation is calling for smarter mining, smarter agriculture and smarter manufacturing to pull South Africa ahead; and The Constitutional Court... 

National nanotechnology centre developing prototypes, commercialising technologies

By: Keith Campbell     19th January 2018 The National Centre for Nanostructured Materials (NCNSM) at the Council for Scientific and Industrial Research plans to commission its third pilot plant during the course of this year (2018). The centre’s current two pilot plants were both brought into operation in the middle of 2016. One of... 

Solar steam powers homes – and new jobs – in South Africa

By: Reuters     12th January 2018 South Africa may still get most of its energy from coal, but in the country’s sunny Northern Cape province, a different electricity source is taking hold: solar steam. A Spanish renewable energy company has opened three thermal solar plants – which use the sun’s heat to create electricity - in... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Chinese auto group dips toe in SA’s diesel-taxi waters

By: Irma Venter     1st December 2017 Beijing Automotive Works South Africa (BAW SA) will test a new diesel minibus taxi in the local market through sales at four selected dealers in Johannesburg, Cape Town, Durban and KwaZulu-Natal’s South Coast. Should the market accept the vehicle, availability would grow to most of the 28 BAW... 

New Indian JV for beach sand mining

By: Ajoy K Das     30th November 2017 Indian Rare Earths Limited (IREL) and the Industrial Development Corporation of Odisha Limited (IDCOL), the investment arm of the eastern Indian province of Odisha, on Wednesday signed an agreement to float a joint venture (JV) company for beach sand mining project. The 51:49 IREL-IDCOL JV would... 

IDC outlines actions for mining industry to inch closer to success

By: Mia Breytenbach     28th November 2017 While the Toronto Declaration-based standards for the mining industry, adopted by the International Council of Metals and Mining, are broadly accepted as encompassing mines’ social licence to operate, only an “arrogant or stupid person” would argue that all relevant standards have been met, says... 

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