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Barrick seeks Chinese partners for Tanzania mines – Globe

By: Bloomberg     17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

Satellite operator launches South Africa-based operations

By: Natasha Odendaal     14th September 2018 Satellite operator Avanti Communications Group has officially launched its South Africa-based operations as it continues a corporate revamp and continued investment and focus in Africa. “The announcement is underpinned by Avanti’s continued commitment to investing in Africa through a direct local... 

Aspen sells global nutritional business

By: Tasneem Bulbulia     13th September 2018 Pharmaceutical manufacturer and supplier Aspen has concluded an agreement to sell its global nutritional business to French-based multinational dairy corporation Lactalis Group for a fully funded cash consideration of €739.8-million, or about R12.9-billion. The company disclosed this during a... 

Aspen mulls sale of infant formula unit

By: Reuters     11th September 2018 South African drug maker Aspen Pharmacare said on Tuesday it was in discussions to sell its global infant formula business, but did not give any further details. Aspen's infant milk formula business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa and Latin America, and has a... 

Ghana NPO forms part of global Cummins Powers Women initiative

31st August 2018 Global power leader Cummins used the occasion of Women’s Day on 8 March to launch its ‘Cummins Powers Women’ initiative. It will partner with a network of best-in-class non-profit organisations (NPOs) in regions with existing, outcomes-based programmes to accelerate gender equality. These include... 

Politics hamper African airlines’ growth potential

By: Jessica Oosthuizen     31st August 2018 The African airline sector has significant potential for growth, but it is not growing sufficiently because of various issues, such as stringent regulatory frameworks, says flag carrier airline Air Mauritius Southern Africa and Latin America regional GM Carla da Silva. Government policies in... 

South African winemakers look to Peru for growth

By: Marleny Arnoldi     30th August 2018 Wine producer La Ric Mal owner and winemaker Malcolm Green and other wine producers from four South African provinces will travel to Lima, Peru, this weekend, with the aim of expanding the market for South African wines. This expedition forms part of the Trade and Investment Mission organised and... 

Firms in satellite broadband services partnership

By: Natasha Odendaal     24th August 2018 Satellite operator and services provider Avanti Communications and panAfrican telecommunications solutions service provider iWayAfrica have signed a deal to provide satellite broadband services across sub-Saharan Africa. The new master distributor contract will allow iWayAfrica to provide... 

Global copper mine production up 5.7% in first five months of 2018 – ICSG

By: Marleny Arnoldi     21st August 2018 The International Copper Study Group (ICSG) says global mine production of copper in the first five months of this year increased by 5.7% year-on-year to about 450 000 t, while concentrate production increased by 5.5% year-on-year and solvent extraction and electrowinning (SX-EW) increased by 6%... 

AB InBev to build new brewery in fast-growing Mozambique

By: Reuters     8th August 2018 Anheuser-Busch InBev, the world's biggest brewer, will start building a more than two-million hectolitre a year brewery in Mozambique in the second half of next year, the company's Africa head said on Tuesday. The Mozambique investment will look to fend off competition from rival Heineken, which... 

Strong growth in smaller airliner segment predicted by Brazilian aerospace group

By: Rebecca Campbell     27th July 2018 Brazilian aerospace group Embraer, one of the world’s top two regional jet manufacturers, has forecast a global demand for 10 550 new airliners with capacities of 150 seats or less, over the next 20 years. This prediction was released at Farnborough in the UK on the day before the start of the... 

Only a 'cataclysm' could hit top quality ore demand – Vale CEO

By: Reuters     26th July 2018 Brazil's Vale, the world's top iron-ore producer, forecast steady prices for the mineral and rising premiums for its top quality ore, thanks to strong demand from China and despite global trade tensions. Vale CEO Fabio Schvartsman said a scarcity of Vale's trademark top quality ore protects the... 

Strong demand forecast for pilots, technicians and cabin crew in Africa and globally

By: Rebecca Campbell     25th July 2018 Africa will need 29 000 pilots over the next 20 years, US aerospace group Boeing has forecast. The continent will also need 28 000 technicians and 29 000 cabin crew. These predictions were made in the group’s 2018 “Pilot & Technician Outlook”, released on Tuesday. The report divides the world... 

BAIC SA opens vehicle assembly plant at Coega IDZ

By: Marleny Arnoldi     24th July 2018 Chinese vehicle manufacturer Beijing Automotive Group’s South African subsidiary, BAIC SA, on Tuesday opened its 88 969 m2 vehicle assembly plant, in the Coega Industrial Development Zone, near Port Elizabeth.   The company has completed the critical construction and equipment installation... 

Brazilian aerospace group predicts strong growth in smaller airliner segment

By: Rebecca Campbell     16th July 2018 Brazilian aerospace group Embraer, one of the world’s top two regional jet manufacturers, has forecast a global demand for 10 550 new airliners with capacities of 150 seats or less, over the next 20 years. This prediction was released on Sunday at Farnborough in the UK, the day before the start... 

Vale notches record Q2 iron-ore, pellet output despite trucker strike

By: Reuters     16th July 2018 Brazil's Vale achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America's largest economy in May, the miner said in a filing on Monday. Vale, the world's top iron-ore producer, said iron ore output reached 96.755-million... 

Travel between SA and Spain boosted by renewed air link

By: Rebecca Campbell     13th July 2018 The reintroduction of direct flights between Johannesburg and Madrid by Spanish flag-carrier airline Iberia in August 2016 has resulted in a significant boost in travel between South Africa and Spain. This was reported by Airports Company South Africa Assistant General Manager (Client and... 

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

Huge Brazil tax liability slows sale of funds' Vale stakes – sources

By: Reuters     29th June 2018 A potential tax liability in the billions of dollars is delaying the sale of major stakes in miner Vale SA by Brazil's largest pension funds, according to two sources with knowledge of the matter. Discussions over the tax issue are prolonging when and how pension funds are going to unload their... 

Let’s get the questions right on police reform

By: Rebecca Campbell     29th June 2018 One of the striking things about South Africa is how little interest the ruling African National Congress (ANC) has shown in transforming certain key institutions the country. Oh, there have been big changes in personnel, yes, because the ANC has focused, and continues to focus, on demographic... 

Renewed air link boosts traffic between South Africa and Spain

By: Rebecca Campbell     28th June 2018 The reintroduction of direct flights between Johannesburg and Madrid by Spanish flag-carrier airline Iberia in August 2016 has resulted in a significant boost in travel between South Africa and Spain. This was reported by Airports Company South Africa assistant general manager (client and... 

100 Resilient Cities appoints Dana Omran as MD for Africa

By: Marleny Arnoldi     25th June 2018 Dana Omran has been appointed Africa MD for the Rockefeller Foundation’s 100 Resilient Cities (100RC) programme.  

Most airlines see profit rise, but share prices fall, in first quarter

By: Rebecca Campbell     22nd June 2018 The profitability of the global airline industry improved during the first quarter of this year (1Q18) in comparison to the first quarter of 2017 (1Q17), the International Air Transport Association (IATA) has reported. The prime driver of this improvement was a turnaround by European airlines. On... 

Rio appoints replacement for Lynch

By: Esmarie Swanepoel     12th June 2018 Mining major Rio Tinto has appointed Jakob Stausholm as CFO, succeeding Chris Lynch who will stand down from the board on September 3, and who will retire from Rio on September 30. Stausholm recently stepped down as group CFO of AP Moller-Maersk, and will join Rio as an executive director on... 

Sikorsky Continues Customer Support Focus with New Parts Supply Site and S-92 Blade Repair Capability

8th June 2018 Sikorsky, a Lockheed Martin company, today announced the relocation and expansion of its Brazil-based forward stocking location (FSL) at a ribbon cutting ceremony attended by local operator CEOs and Sikorsky officials. The strategic decision positions Sikorsky products closer to operators and... 

Datatec optimistic about full Westcon turnaround within two years

By: Natasha Odendaal     1st June 2018 International information and communications technology company Datatec expects its embattled Westcon International portfolio to return to profitability within the next year, with a full turnaround emerging within two years. Datatec, which recently disposed of its businesses in North America and... 

S&P’s raises Glencore’s long-term issuer credit rating to BBB+

By: Marleny Arnoldi     30th May 2018 Ratings agency Standard & Poor’s (S&P’s) has raised its long-term issuer credit rating on global diversified miner Glencore and its related entities to ‘BBB+’ from ‘BBB’, with a stable outlook.  

Gender inequality in earnings hampers human capital wealth, economy – World Bank Group

By: Marleny Arnoldi     30th May 2018 Globally, countries are losing $160-trillion in wealth because of differences in lifetime earnings between women and men, says World Bank Group.  

Smartphone sales back in the black in Q1 – Gartner

By: Schalk Burger     29th May 2018 Global sales of smartphones to end-users increased by 1.3% during the first quarter of the year to 384-million, market research multinational Gartner reported on Tuesday. Huawei and Xiaomi experienced the most growth during the quarter, and Apple returned to growth after sales declined during the... 

Brazil deal to end truckers' strike rattles Petrobras investors

By: Reuters     29th May 2018 Petrobras shares plunged 15% on Monday after Brazil's government offered new fuel subsidies and softened the oil producer's pricing policy in a bid to settle a truckers' strike that has wreaked havoc on Latin America's largest economy. As a result of tax cuts and subsidies announced by President... 

Chile's Pinera taps businessman Benavides as Codelco chair

By: Reuters     25th May 2018 Chilean President Sebastian Pinera named Juan Benavides, a former CEO of Chile retail leader Falabella, as chairperson of the board of directors at Codelco, the world's top copper producer, the government said on Friday. Benavides was currently serving as chairman at Chilean private pension fund... 

Porto de Sergipe I power plant, Brazil

By: Sheila Barradas     25th May 2018 The project entails the construction of the largest gas-fired power plant in Latin America.  

SearchInform solutions officially on SA’s IT security radar

22nd May 2018 On 16 May SearchInform kicked off its Road Show 2018 under the theme Money Loss Prevention: futuristic security in Centurion, Gauteng, and attracted local information security experts as well as top managers and executives. The company entered the South African market in March 2018 and has... 

Promise and perils

By: Terence Creamer     18th May 2018 While President Cyril Ramaphosa was having a breakfast meeting with his Economic Cluster Ministers at Genadendal last week, to deliberate on ways to deliver on the $100-billion-investment goal, the International Monetary Fund (IMF) released a report highlighting just how important investment is... 

Gold to maintain its significance for decades to come – WGC

By: Nadine James     17th May 2018 Having compiled and published the ‘Gold 2048: The next 30 years for Gold’ report, the World Gold Council (WGC) has concluded that gold will “continue to be recognised, appreciated and valued in the years ahead” The report, released on Thursday, looks at the next 30 years and considers ways in... 

Disposals hit Datatec’s FY18 earnings

By: Natasha Odendaal     17th May 2018 International information and communications technology (ICT) group Datatec posted earnings per share (EPS) of 20.5c for the year ended February 28, compared with the 1.4c reported in 2017, owing to the profits on the disposal of two businesses during the period under review. The company,... 

Leagold gets antitrust thumbs up to acquire Brio Gold

By: Henry Lazenby     17th May 2018 Gold miner Leagold Mining said on Wednesday it has received clearance from the Mexican Competition Commission to proceed with the proposed $264-million all-scrip deal to acquire Brio Gold. The clearance decision from the Comisión Federal de Competencia Económica was the last government agency... 

GoMetro signs global distribution deal to Improve the Way every City Moves

By: Creamer Media Reporter      16th May 2018 Whether you’re in Ghana where the trotos’s are, on a jitney in the Philippines or in a sometimes ironically named ‘car rapide’ in Senegal, there’s no escaping the fact that informal transport exists in every major city in the world. Even more intriguingly, the innovation and agility displayed in... 

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