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Generator servicing lessens fire hazard risk

By: Johane Turkstra     28th April 2017 Companies need to service generators regularly to lessen the fire hazard risk they pose, says risk management company ASP Fire CEO Michael van Niekerk. “A generators is used only occasionally and is generally ‘tucked away in a corner’, so management tends to forget that it can potentially be a... 

Municipal entity to manage Cape Town Stadium

By: African News Agency      20th March 2017 The City of Cape Town’s Mayoral Committee approved a recommendation to council on Monday, that a municipal entity be established to manage and operate the Cape Town stadium on behalf of the city. “Our goal is to minimise the financial losses of the Cape Town Stadium and to maximise the potential... 

Amid challenges, power sector offers massive opportunities

By: Nadine James     17th March 2017 Although the power and electricity sector in Africa faces massive challenges, it also offers massive opportunities, says Power & Electricity World Africa (PEWA) event organiser Terrapinn.  

Early signs pointing to recovery in foundry industry 

By: Simone Liedtke     10th March 2017 With the foundry industry having been under pressure last year owing to very low levels of economic growth, the drought and continuing import leakage, the South African Institute of Foundrymen (Saif) believes that signs to date this year point towards some form of industry recovery. 

Supplier delivers products for chemical conveyance system

By: Nadine James     10th March 2017 Thermoplastic products supplier Astore Keymak – formerly Astore Africa – supplied and delivered several polymer plastic products to assist with the installation of a conveyance system at Omnia Group’s chemical subsidiary Protea Chemicals’ plant, in Wadeville. The project, a result of a... 

First high-speed railway safety standards in South Africa

     27th February 2017 A high speed railway system may not be on the cards for South Africa in the near future, however, GIBB, South Africa’s leading black owned multi-disciplinary engineering consulting firm, has given the country a head start by developing a suite of safety standards for the construction of such... 

Portia passes another milestone

By: Esmarie Swanepoel     2nd February 2017 The Portia gold mine, in South Australia, has passed another milestone, producing its first 20 000 oz of gold. Owner Havilah Resources on Thursday said this meant that the company had delivered all ounces hedged through spot deferred gold sales under the Investec risk management facility, at an... 

Gold set for best month since June as investors fret over Trump

By: Bloomberg     31st January 2017 Gold climbed back above $1 200 and headed for its best month since June as jitters over Donald Trump’s actions since he took office as US President just over a week ago sent investors scurrying for a haven. Bullion has risen almost 5% in January, partly recouping a 13% loss in the fourth quarter,... 

Procurement benefits most from supply chain digitalisation

     25th January 2017 The digital age has revolutionised the way society consumes and shares information. Within the commercial arena, there is hardly a business function that does not make use of technology to perform even the simplest of tasks. Supply chain has been one of the departments to embrace technology the... 

Former Sars spokesperson 'kept in the dark on rogue unit' 

By: News24Wire      23rd January 2017 Former Sars spokesperson Adrian Lackay claims he was "kept in the dark" when the report probing the so-called rogue unit was handed to commissioner Tom Moyane. Lackay is testifying at a Commission for Conciliation Mediation and Arbitration (CCMA) hearing and his legal team has hinted that his... 

Fortescue appoints new CFO

By: Esmarie Swanepoel     17th January 2017 Iron-ore major Fortescue Metals has appointed Elizabeth Gaines to the position of CFO, replacing Stephen Pearce, who will join diversified miner Anglo American on January 30. Gaines will take up the position of CFO from February 6. 

Bigen Africa appoints Ruan Minnaar as Human Capital and Marketing Director

     17th January 2017 Bigen Africa appointed Ruan Minnaar as Human Capital and Marketing Director. He is a dynamic executive with an excellent academic, business and personal record across a wide range of disciplines. “Ruan is a focused and performance-driven executive with a strategic mind-set and a proven ability to... 

Aon launches solution to help companies respond to Brexit risks

By: Megan van Wyngaardt     10th January 2017 Risk management provider Aon has launched a three-step tool, the Brexit Navigator, to help organisations quantify the impact of Brexit risk exposures, and redesign risk management and risk financing structures. The solution is supported by an interactive tool that presents scenario-based insights... 

Gold Road closes forward sales

By: Esmarie Swanepoel     16th December 2016 Gold developer Gold Road Resources has closed out its margin gold forward sale facility with the Commonwealth Bank of Australia, generating pre-tax profits of A$11.92-million. A total of 50 000 oz, at an average gold price of A$1 791/oz, was secured in support of potential project finance for... 

Southern Africa faces worst drought in decades

By: African News Agency      8th December 2016 Nearly 14-million people in southern Africa are in need of emergency humanitarian assistance as the region faces the worst El Nino induced drought in decades. United Nations (UN humanitarian agencies and partners launched a revised action plan to outlining their response to the needs of an... 

ICMM commits to new tailings dam measures

By: Esmarie Swanepoel     6th December 2016 The International Council on Mining and Metals (ICMM) has adopted a range of new measures to manage tailing dams, following the Samarco disaster in 2015, which claimed the lives of 19 people in Brazil. The ICMM in December last year launched a review of the global tailings management of its... 

Identify And Manage Construction Risks Early – Or Face Disastrous Consequences, JBCC Warns

     30th November 2016 Construction projects that are not properly planned at the design stage could pose a major risk to the reputation of all the parties involved, Uwe Putlitz, CEO of the Joint Building Contracts Committee (JBCC), has warned. Putlitz was speaking at the recent 8th Annual Construction Risk Management... 

Australia gold output rises despite wet weather

By: Creamer Media Reporter      28th November 2016 Australian gold production during the three months to September rose to 75 t, despite severe weather conditions that affected some operations in the Eastern states, gold mining consultant Surbiton Associates has revealed. The September quarter production was a 1 t increase, or a 2% improvement,... 

MIRACLES Generic Risk Methodology

     25th November 2016 Risk management is usually the responsibility of risk managers/professionals in separate business units working with differing risk management systems. This contributes to multiple risk mitigation strategies resulting in a lack of risk information sharing and a lack of understanding of the key... 

World Bank arm monitoring Rio Tinto’s payments probe in Guinea 

By: Bloomberg     21st November 2016 The World Bank’s private investment arm said it’s monitoring the situation after Rio Tinto Group announced a probe into a $10.5-million payment connected to the Simandou iron-ore project in Guinea, West Africa. The International Finance Corp. is supporting efforts to identify funding for the... 

Arup Joint Winner For Professional Services At Best Project 2016 Awards

     10th November 2016 Arup was awarded joint winner in the Professional Services category at the Best Projects 2016 Awards for their structural, civil, façade, wet services and transport design for Attacq and architects LYT, for the PwC Tower currently under development in Midrand, north of Johannesburg. The awards,... 

Botswana VP questions relevance of development finance institutions

By: African News Agency      8th November 2016 Botswana Vice-President Mokgweetsi Masisi has called on Development Finance Institutions (DFIs) to redefine their objectives, warning their relevance as development facilitators was threatened by evolving shifts in demographic, societal needs, economic and market conditions. Officially opening... 

Babcock’s specialised skills secure additional work at Kusile

     25th October 2016 Babcock’s specialised engineering business has secured a contract extension for Units 4 and 5 of the six new 800 MW boiler units at Kusile Power Station, in addition to current work being undertaken for Units 2 and 3. The contract was awarded by Mitsubishi Hitachi (MHPSA), the main boiler... 

Glencore’s coal hedge gets more painful as prices rally

By: Bloomberg     18th October 2016 The rally in thermal coal is taking a bigger bite out of Glencore’s profits after the world’s biggest exporter of the fuel locked in prices prior to the surge. The Swiss company reported a $395-million mark-to-market non-cash loss in the first half on hedges for future sales, which applied to the... 

High potential for investments in Africa

By: Simone Liedtke     14th October 2016 The African continent, as an emerging and relatively underdeveloped market, displays a significant lag in investment, particularly in primary sectors such as infrastructure. This presents a unique opportunity for investors with a focused approach wanting to generate superior returns, says private... 

Newer construction contracts promote better collaboration, says Alusani® Course Leader

     3rd October 2016 Where many construction contracts promote an adversarial relationship between the contractor and the client, the NEC3 ECC promotes a partnership of collaboration, says Cameron Staude Alusani® Course Leader. “The NEC3 is still a relatively new contract, especially in the South African construction... 

Jacobs Capital, partner invest R300m in recapitalising KZN hardboard manufacturer

By: Shirley le Guern     26th September 2016 Durban-based private equity firm Jacobs Capital and its partner Black Bird Capital are confident that investment of around R300-million will place struggling hardboard manufacturer Masonite back on its feet in the short to medium term.   The troubled company was placed in business rescue in... 

Revenue service releases customs strategic plans

By: Riaan de Lange     23rd September 2016 Do you know what the values of the South African Revenue Service (Sars) are? According to the organisation's strategic plan for the period 2016/17 to 2020/21, released on September 5, Sars has seven values: These fairness, accountability, integrity, respect, transparency, trust and honesty. On... 

MICROmega buys CSIR Food and Beverage Laboratories

By: African News Agency      21st September 2016 IT and financial services firm, MICROmega Holdings on Wednesday announced the acquisition of CSIR Food and Beverage laboratories, formerly a division of Council for Scientific and Industrial Research (CSIR). The CSIR Food and Beverage laboratories provide chemical analytical services that focus... 

Impact of a ratings downgrade on investors

     21st September 2016 South Africans have been arguably living with a sword over their heads since the beginning of 2016: the imminent downgrade of the country’s sovereign credit rating to non-investment grade levels by global ratings agencies. Andrew Morton, Head of Advice at FNB Financial Advisory says most local... 

Women in Logistics: Harnessing the Opportunity to Drive Sustainable Growth

     19th September 2016 In recent years, several major studies have demonstrated that having more female leaders, board members, managers and supervisors leads to better business outcomes including higher levels of productivity, safety and improved financial returns. More specifically, research referenced in the 2009... 

IoT – exposure everywhere

     19th September 2016 The adoption of IoT technologies is set to broaden the risk exposure consumers and enterprises face, driving a need for new legislation, more layers of security and increased awareness, says Fortinet. The arrival of Internet of Things technologies might not significantly change the mode of attack... 

Shaft sinking industry group launches, seeks to create new opportunities

By: Ilan Solomons     16th September 2016 The South African Shaft Sinking, Equipment and Services (Sasses) supply group, a subgroup within the South African Capital Equipment Export Council (Saceec), was officially launched at the Electra Mining Africa 2016 tradeshow in Johannesburg, this week. Sasses aims to assist local manufacturers... 

Agility In Custom Engineering

     13th September 2016 HVAC systems in the military and rolling stock sectors have very specific operating requirements and could include anything from the ability to operate in extreme climates to severe space constraints to ergonomic issues such as low noise tolerance. In addition, there are typically all sorts of... 

Company encourages ISO 55000 certification

By: Kimberley Smuts     9th September 2016 Multidisciplinary and professional services engineering company Smec is encouraging its clients to become ISO 55000 certified, as this certification will enable companies to realise enhanced value from their assets. Smec explains that good asset management maximises value for money by ensuring... 

Risk of malfunctioning algorithms leads to calls for new AI regulation

By: Schalk Burger     9th September 2016 Although artificial intelligence (AI) is set to improve financial institutions' risk management, credit provision, asset management, trading and hedge funds, certain risks will remain, says multinational law firm Baker & McKenzie Banking and Finance partner Chris Hogan. These risks include... 

FNB shows strong growth as customers seek greater value in tough climate

     8th September 2016 FNB produced excellent results for the year to 30 June with profits in the South African market up 11% and when including FNB Africa up 8%. Concerted initiatives saw the bank gain customers with FNB Premium and Business Banking areas growing customers by 10% and 14% respectively.   “The bank’s... 

Opportunities for bitumen producers increased in Africa

     2nd September 2016 With there being various commitments to improve infrastructure made by African countries, bitumen producers will be assured of significant work in future, says oil industry company Royal Dutch Shell. According to figures stated in the Roads and Highways overview compiled by international... 

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