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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. 

Energy deal signals kick-off of power savings drive

     3rd October 2016 “Voltage optimisation” rolled out to big business and industry in bid to cut energy costs A NEW deal between two South African energy efficiency specialists – Rhino Lighting and Powerstar SA – has signalled the rollout of a globally-patented Powerstar range of voltage optimisation systems aimed... 

MTN again tops the list of South Africa’s most valuable brands

By: Megan van Wyngaardt     15th September 2016 Despite losing 32% of its brand value owing to reputational challenges, communications giant MTN, which is worth R37-billion, has remained the most valuable brand in the country, according to Brand South Africa and strategy consultancy Brand Finance’s yearly survey. Retailer Woolworths, ranked at... 

Investec says release of updated IRP could ease IPP frustration and uncertainty

By: Terence Creamer     7th September 2016 Banking group Investec, which has supported various renewable energy and peaking power projects in South Africa, including the Avon and Dedisa open cycle gas turbines that recently entered commercial operation, remains convinced that the country will continue with its independent power producer... 

Renewable Energy Independent Power Producer Procurement Programme – third window

By: Sheila Barradas     26th August 2016 An update on the third window of the Renewable Energy Independent Power Producer Procurement Programme. 

Uber mulls new South African services as it expands African footprint 

By: Irma Venter     19th August 2016 There is “huge scope” for Uber to grow in South Africa, says Uber sub-Saharan Africa GM Alon Lits. “My wife and I have one car. I Uber to work every morning and I always drive past all of these cars in traffic with single occupants. I want each and every one of these drivers to switch to Uber.” 

Rally in mining’s super commodity strained by race to fuel Tesla

By: Bloomberg     19th August 2016 Even the mining industry’s super commodity of the future may be unable to avoid the Achilles heel of all mineral producers – a recurring habit of busting a boom with too much supply. As miners of everything from copper to iron ore wrestled with losses driven by global surpluses, prices soared for... 

Uber mulls new South African services as it expands African footprint

By: Irma Venter     19th August 2016 There is “huge scope” for Uber to grow in South Africa, says Uber sub-Saharan Africa GM Alon Lits. “My wife and I have one car. I Uber to work every morning and I always drive past all of these cars in traffic with single occupants. I want each and every one of these drivers to switch to Uber.” 

June manufacturing output improves by 4.5%

By: Natasha Odendaal     11th August 2016 Statistics South Africa’s latest data show manufacturing output edging up 4.5% in June, an improvement on the 3.9% increase in May and the 3.2% increase in April. However, while the increase is positive, likely to contribute to a modest boost in gross domestic product (GDP) growth and higher than... 

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