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South Africa mining production up 3.1% in February

By: Anine Kilian     12th April 2018 South Africa’s mining production increased by 3.1% year-on-year in February, bolstered by a strong contribution from diamonds and iron-ore, according to the latest figures published by Statistics South Africa (Stats SA) on Wednesday. The February production growth, which exceeded consensus... 

Youth Employment Service to benefit 1m young people  

By: Marleny Arnoldi     27th March 2018 President Cyril Ramaphosa on Tuesday launched the Youth Employment Service (Yes) initiative – a business-led partnership with government, labour and society, that aims to empower one-million young South Africans between the ages of 18 and 34 through paid work experiences over the next three years.  

R&E reports R7m loss due to ongoing litigation

By: African News Agency      26th March 2018 South African gold miner Randgold and Exploration (R&E) on Monday reported a total comprehensive loss of R7-million for the year ended 31 December 2017, down from R7.9-million the previous year, as a result of an increase in legal fees.  R&E said that during the 2017 financial year, it received... 

Iron-ore gives South Africa’s January mining output a boost

By: Marleny Arnoldi     16th March 2018 Mining production increased by 2.4% year-on-year in January, bolstered by strong growth in iron-ore production and “other” non-metallic minerals, Statistics South Africa figures how. The January growth compares with a contraction of 0.5% in December. 

Steinhoff sells part of stake in South Africa's KAP to help cut debt

By: Reuters     14th March 2018 Crisis-hit South African retailer Steinhoff raised R3.66-billion ($311-million) from the sale of a 16.7% stake in KAP Industrial, another step in its efforts to shore up its finances and pay down debt. Steinhoff, which has more than 40 retail brands that include Conforama, Poundland and Mattress... 

Savca launches industry awards

By: Megan van Wyngaardt     13th March 2018 The Southern African Venture Capital and Private Equity Association (Savca) is launching the inaugural Savca Industry Awards, aimed at recognising portfolio companies that have thrived from private equity and venture capital investment in Southern Africa. All investee companies headquartered in... 

Global And National Energy Experts Prepare To Attend The 10th Annual Africa Energy Indaba 2018

12th February 2018 The 10th edition of the Africa Energy Indaba, is the African energy event organised for Africans, by Africans, in Africa.  It is also the regional Africa event of the World Energy Council (WEC) and is strategically partnered with the South African National Energy Association (SANEA), the NEPAD... 

Rio Tinto's blowout cash puts dividends and deals in focus

By: Bloomberg     7th February 2018 Rio Tinto Group’s best profit in three years and a record dividend is yet another sign that miners are reaping the benefits of a surge in commodity prices. Yet the sheer size of Rio’s cash flow is starting to raise another question: how else will the world’s second-biggest mining company invest... 

Industry confident Eskom board changes will help save utility

By: Megan van Wyngaardt     22nd January 2018 The appointment of a new Eskom board with “credibility, business acumen and experience” has given South African businesses hope that the embattled State-owned entity (SOE) can be salvaged, with a number of organisations lauding Deputy President Cyril Ramaphosa for taking a step in the right... 

Manufacturing ends year with a PMI low

By: Natasha Odendaal     12th January 2018 December’s “dismal” Absa Purchasing Managers’ Index (PMI) performance indicates that the South African manufacturing sector ended the year on “the back foot”, the monthly Bureau for Economic Research survey suggests. After four consecutive months of improvements and reaching a six-month high in... 

Universal Storage Systems

By: Creamer Media Reporter      3rd November 2017 From its head offices at 6 Kruger road, Strijdom Park, Johannesburg, Universal Storage Systems offers steel racking, shelving and mezzanine storage solutions to the national and international markets. With branches in Cape Town, Durban, Port Elizabeth and Nelspruit, Universal Storage Systems’... 

Anneke Grond

6th October 2017 This week we feature Anneke Grond, MD of Jasco Enterprise, which delivers end-to-end solutions across the entire information and communication technology value chain   

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Servest acquires stake in ICT services company

By: Mia Breytenbach     1st September 2017 International facilities management provider Servest has partnered with investment company Bottega InvestCo in the acquisition of integrated information and communications technology (ICT) services company Getronics. The transaction, which is supported by specialist banking and asset management... 

Embattled Buffalo Coal relies on seventh renegotiation with Investec

By: Samantha Herbst     24th August 2017 The survival of South Africa-focused coal miner Buffalo Coal depends on the outcome of the seventh amendment to the company’s term loan and revolving credit agreement with specialist banker and asset management firm Investec, which is currently being negotiated. Despite having implemented various... 

AECOM clinches top honour at 2017 Universum Awards

24th August 2017 AECOM Africa took home the ‘Most Attractive Key Occupation for Engineering Professionals: Building Architects’ at the Universum Awards held in Sandton, Johannesburg on 11 May 2017. The award was received by Senika Devesheel, AECOM’s HR Director for Africa, who says the latest accolade signifies... 

Chris Baloyi

11th August 2017 This week we feature Chris Baloyi, MD of Bosch Capital, an advisory services, capital raising and investment company   

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debt and continue to improve safety standards, while improving overall operating capability to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking to... 

Shorts pile into cash-strapped Lonmin as platinum flounders

By: Bloomberg     27th June 2017 The last time there was so much short-selling on Lonmin Plc, the platinum miner was weeks away from a life-saving rights issue. At 14% of the total outstanding shares, Lonmin is the seventh-most-shorted stock on the 645-member FTSE All-Share Index, according to data compiled by Markit. That... 

Banks balk at risk of funding South Africa Mining Charter deals

By: Bloomberg     26th June 2017 South Africa’s plan to force mining companies to give the black majority a bigger stake in the nation’s mineral wealth faces a major obstacle: convincing  banks to back billions of dollars of fresh deals in an industry in decline. Mineral Resources Minister Mosebenzi Zwane said on June 15 that... 

Shanta agrees to buy Canadian junior Helio; nearly doubles Tanzania resource base

By: Megan van Wyngaardt     20th June 2017 East Africa-focused gold miner Shanta Gold on Tuesday agreed to buy TSX-V-listed explorer Helio Resources in an all-scrip deal valued at about £3.5-million. The acquisition will give Shanta control of Helio’s assets located immediately next to its flagship New Luika gold mine (NLGM), which... 

Carlyle's $700m Africa fund is eyeing two deals in Egypt

By: Bloomberg     1st June 2017 Carlyle Group, one of the world’s largest private equity firms, sees two buying opportunities in Egypt this year after a commodity rout depressed prices in the region. The Washington, DC-based investor’s $700-million Sub-Saharan Africa Fund will spend between $30-million and $100-million on each,... 

South African online retail underwhelming – Investec analyst

By: Megan van Wyngaardt     17th May 2017 South African online retail sales represent only 1% of the country’s overall sales and, although this is projected to grow as consumers look for increased convenience, it is unlikely to reach the levels of the most penetrated countries. Speaking at the South African Council of Shopping Centres’... 

CoAL making progress to re-enter market as coal producer – Brown

By: Anine Kilian     28th April 2017 Triple-listed Coal of Africa Limited (CoAL) is making good progress in re-entering the market as a coal producer, CEO David Brown said in a quarterly update to shareholders on Friday. The company earlier this month announced that it would buy Pan African Resources’ Pan African Resources Coal... 

Shanta reports higher Q1 production, improved margins

By: Mia Breytenbach     21st April 2017 Aim-listed Shanta Gold’s New Luika mine, in Tanzania, produced 20 416 oz of gold in the quarter ended March 31, improving the company’s margins and keeping it on track to meet its 2017 guidance. “Shanta had a promising start to the financial year with more ounces produced, at a greater margin... 

Zuma orders Gordhan home from UK talks with investors

By: African News Agency      27th March 2017 President Jacob Zuma on Monday ordered Finance Minister Pravin Gordhan and Deputy Finance Minister Mcebisi Jonas to abandon talks with foreign investors in the UK and US and return home, prompting the rand to fall amid fears of a Cabinet reshuffle. “President Jacob Zuma has instructed the... 

Renewable Energy Independent Power Producer Procurement Programme – third window, South Africa

By: Sheila Barradas     17th March 2017 An update on the Renewable Energy Independent Power Producer Procurement Programme – third window. 

Investec emerges as go-to bank for US rooftop solar

By: Bloomberg     3rd March 2017 A South African bank has become the go-to funding source for the U.S. rooftop solar industry just two years after entering the market. Investec arranged $880-million in debt financing for rooftop solar developers and financiers in 2016. That’s more than half of the $1.5-billion bank debt raised... 

Sandton is still on the rise and home to half of SA’s current commercial property development

2nd March 2017 Nearly half of all the office development taking place in South Africa right now is happening in Sandton. Sandton Central is the epicentre of this development, which includes many of the most cutting-edge, exciting and innovation new buildings on the continent. The latest research in the South... 

Commission asks tribunal to fine banks over alleged collusion

By: Megan van Wyngaardt     15th February 2017 The Competition Commission on Wednesday referred a case of collusion against a number of international banks for alleged price fixing to the Competition Tribunal for prosecution. This follows an investigation into a case of price fixing and market allocation in the trading of foreign currency... 

Local mining industry sees broad-based decline in November production

By: Megan van Wyngaardt     17th January 2017 Although recent updates from the International Monetary Fund and World Bank forecast a moderate recovery in global mining growth, which reached a post-crisis low in 2016, the contraction in South Africa’s mining production still deepened by 4.2% year-on-year in November, from a contraction of... 

Kathu concentrated solar power project, South Africa

By: Sheila Barradas     13th January 2017 Sener is expected to continue providing the engineering, procurement and construction services for the project this year, in conjunction with its joint venture partner Acciona. 

Havilah cancels debt

By: Esmarie Swanepoel     30th November 2016 Gold miner Havilah has made the final repayment on a A$6-million loan facility, allowing the company to become debt free only seven months after the first gold pour at its Portia gold mine, in South Australia. The final repayment was also made four months before its due date. 

Shanta receives $5.25m silver streaming payment

By: Anine Kilian     17th November 2016 East Africa-focused gold producer Shanta Gold has received an advanced payment of $5.25-million as part of a silver streaming agreement (SSA) with privately held Guernsey-based investment company Silverback. The SSA was signed in May. 

Copper posts best back-to-back gain since 2013 on Trump splurge

By: Bloomberg     11th November 2016 Donald Trump has vowed to revitalise America’s ageing airports, schools and bridges, and traders are betting he’ll need copper. The metal is up 7% since Trump won the US presidency, capping the biggest two-day gain in three years.  

Universal sees record quarter with production increase

By: Megan van Wyngaardt     28th October 2016 Australia-listed Universal Coal’s Kangala colliery, in Witbank, delivered record production for the quarter ended September 30, achieving 1.08-million tonnes run-of-mine (RoM). During the quarter, the miner’s New Clydesdale colliery (NCC) also started production, contributing 31 200 t RoM, which... 

Voltage optimisation solution punted as way to cut energy costs

By: Mia Breytenbach     28th October 2016 A deal by South African energy efficiency specialists Rhino Lighting and Powerstar South Africa (SA) has signalled the nationwide roll-out of a globally patented Powerstar range of voltage optimisation systems for local industry, which has resulted in energy cost-savings of more than 25% in some... 

Kathu concentrated solar power project, South Africa

By: Sheila Barradas     14th October 2016 Construction on the project has started. 

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