R/€ = 16.95 Change: 0.00
R/$ = 16.67 Change: 0.00
Au 1770.51 $/oz Change: -2.64
Pt 934.00 $/oz Change: 2.00

Latest News

Digital Realty completes acquisition of Teraco

By: Natasha Odendaal     2nd August 2022 Cloud and carrier-neutral data centre, colocation and interconnection solutions provider Digital Realty has completed the acquisition of a majority interest in colocation data centres and interconnection platforms Teraco Data Environments from a consortium of investors, including Berkshire... 

Myhydro aims to supply green power in Congo, keep fish safe

By: Bloomberg     2nd August 2022 An Africa-focused hydro-power startup has teamed up with a Californian maker of ‘fish-safe’ turbines in a bid to solve electricity supply problems in the Democratic Republic of Congo. MyHydro has signed a memorandum of understanding with the Congolese government to develop 36 small hydro projects... 

Joburg Water Randburg depot to be completed by September 2023

By: Natasha Odendaal     2nd August 2022 The Joburg Water depot, in Randburg, is set to be completed by September 2023, 12 months after the restart of construction, the Environment and Infrastructure Services Department (EISD) said on Tuesday after receiving assurances. Work on the depot initially started eight years ago; however, the... 

Telkom posts first-quarter earnings decline

By: Natasha Odendaal     2nd August 2022 JSE-listed Telkom has reported a decline in earnings during the first quarter of the year, impacted by topline performance and an increase in its cost base. During the three months to June 30, Telkom’s group earnings before interest, tax, depreciation and amortisation (Ebitda) declined 15.2%... 

Royal Bafokeng Platinum declares conservative R711m interim dividend 

By: Martin Creamer     2nd August 2022 Taking into consideration the declining basket price, the uncertain demand fundamentals, global recession fears and the continuing uncertainty brought about by the M&A activity, the board of Royal Bafokeng Platinum (RBPlat) decided to adopt a conservative approach in declaring the interim... 

Eskom moves to ramp up maintenance at six coal plants as it seeks permission to buy up to 1 600 MW of surplus power 

By: Terence Creamer     1st August 2022 Public Enterprises Minister Pravin Gordhan reports that Eskom will seek the exemptions it requires to immediately buy up to 1 600 MW of surplus electricity generation that it believes could be available immediately from existing independent power producers (IPPs) and those private South African... 

Public Enterprises Minister Pravin Gordhan
Photo by Creamer Media's Donna Slater
Public Enterprises Minister Pravin Gordhan

Mantashe confirms 45- to 60-day delay in renewables bidding to cater for doubling of procurement to 5 200 MW 

By: Terence Creamer     1st August 2022 Mineral Resources and Energy Minister Gwede Mantashe reported that the bid submission deadline for Bid Window Six (BW6) of the Renewable Energy Independent Power Producer Procurement Programme would be delayed by between 45 and 60 days to ensure procedural fairness in light of President Cyril... 

Mineral Resources and Energy Minister Gwede Mantashe
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

L2D reports strong recovery in retail, 11% increase in interim distributions

By: Schalk Burger     1st August 2022 JSE-listed real estate investment trust (Reit) Liberty Two Degrees (L2D) said on August 1 that it sees continued positive momentum reinforced by a strong balance sheet. It reported an interim distribution pay-out for the six months ended June 30, which is an 11% increase on the distribution for... 

Treasury calls for comments on ‘two pot’ retirement system legislation

By: Schalk Burger     1st August 2022 National Treasury has invited comments on a set of four draft Tax Bills, which give effect to the 2022 Budget tax proposals, including the 2022 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, the 2022 Draft Revenue Laws Amendment Bill, the 2022 Draft Taxation Laws Amendment... 

Denel to pay further R90m to Solidarity members as settlement reached

By: Schalk Burger     1st August 2022 State-owned defence company Denel has paid overdue salaries of about R300-million to trade union Solidarity members and other employees, and has reached a settlement with Solidarity on the R90-million still owed to Solidarity members. This settlement comes after Solidarity obtained a court order... 

Delta announces non-stop Cape Town to Atlanta and boost South African network

By: Schalk Burger     1st August 2022 US airline Delta is adding a nonstop flight from Cape Town to Atlanta from December 18, to complement its existing service between Johannesburg and Atlanta, and the new flight will operate three times a week and provide more than 200 onward connections across the US and beyond. Delta’s new Cape... 

Govt suspends chicken import tariffs to ‘help cash-strapped consumers’

By: Marleny Arnoldi     1st August 2022 The South African Meat Imports and Exporters Association (Amie) has welcomed national government’s decision to suspend anti-dumping duties on chicken imported from Brazil, Spain, Poland, Ireland and Denmark for 12 months. Trade, Industry and Competition Minister Ebrahim Patel indicated in the... 

Frozen chicken

Transnet calls for proposals to redevelop 1 Adderley street, Carlton Centre

By: Schalk Burger     1st August 2022 State-owned Transnet’s Property division has issued two requests for information to assess the availability of potential property developers, investors, funders and financiers to jointly redevelop the Carlton Centre and 1 Adderley street properties, in Johannesburg and Cape Town. The forms part... 

The Carlton Centre
Photo by Creamer Media
The Carlton Centre

Port Elizabeth Car Terminal breaks monthly volumes record

By: Tasneem Bulbulia     1st August 2022 The Port Elizabeth Car Terminal has broken its own record by handling 24 142 fully built units in July, the highest ever in the history of the terminal and 93% above the planned monthly budget. While the terminal was in the middle of a capacity creation project that was unlocking its ability to... 

An image of a car at the Port Elizabeth Car Terminal
Port Elizabeth Car Terminal

New-vehicle sales, exports surge – but compared with a weak July 2021

By: Irma Venter     1st August 2022 Domestic new-vehicle sales in July surged by 30.9%, to 43 593 units, compared with the same month last year. Naamsa | The Automotive Business Council warns, however, that last month’s  performance was distorted by the cyberattack on Transnet, as well as the widespread riots that plagued parts of... 

Image of VW Polo Vivo

Godongwana says Central Bank mandate enough to foster job growth 

By: Bloomberg     1st August 2022 Finance Minister Enoch Godongwana said the central bank’s constitutional mandate to maintain price stability is sufficient to foster job creation, suggesting there’s no need for that directive to be expanded. The head of the governing African National Congress’s economic transformation committee... 

Finance Minister Enoch Godongwana
Finance Minister Enoch Godongwana

Zimbabwean president in bid to block SA from taking over foreign electricity deals  

By: News24Wire      1st August 2022 Zimbabwean President Emmerson Mnangagwa will visit Mozambique and Zambia in a bid to save the country's electricity import contracts that are being eyed by Eskom. Mnangagwa's trips come at a time when South Africa, which is undergoing an electricity crisis, seeks to replace Zimbabwe as an... 

Zimbabwean President Emmerson Mnangagwa
Photo by WEF
Zimbabwean President Emmerson Mnangagwa

Ford SA set to start Ranger mass production in October 

By: Irma Venter     1st August 2022 Ford is starting to wrap up its R15.8-billion investment in its South African facilities to assemble the new Ranger pickup, with mass production for the local and export markets scheduled to start in October. The vehicle will be exported to more than 100 markets. 

Image of the new Ford assembly line and bodyshop
TT production at the Ford SA plant

IFC helps low- to middle-income households access housing finance

By: Marleny Arnoldi     1st August 2022 The International Finance Corporation (IFC) and Absa Bank have partnered to support the expansion of housing finance targeting lower-to-middle income households in South Africa. The financial institutions are endeavouring to increase access to affordable housing in South Africa, considering the... 


United Airlines gets OK from US authorities for new Washington DC – Cape Town route

By: Rebecca Campbell     1st August 2022 Major US carrier United Airlines has been granted official US permission to operate three direct flights a week between the US capital, Washington DC, and Cape Town in South Africa. Provided that the South African government agrees, the new route will start operating on November 17 this year. “We... 

EIMS Africa completes acquisition of Reesco

By: Donna Slater     1st August 2022 Renewable energy company EIMS Africa has successfully acquired Renewable Energy Empowerment Management Services (Reesco) – a key step in the company’s expansion plans as it anticipates increasing its generation capacity to about 1 500 MW by late 2022. EIMS Africa’s current renewable energy... 

An image of EIMS Africa's 50 MW solar project
EIMS Africa's 50 MW De Wildt solar project in the North West province

Atlantic Council proposes Africa agenda at upcoming COP 27 to help combat climate change

By: Donna Slater     1st August 2022 Africa deserves the highest priority attention at the upcoming twenty-seventh United Nations’ climate conference – the Conference of the Parties 27 (COP 27), to be held in Egypt, in November, panel members said in a discussion of the the African Development Bank’s (AfDB’s) African Economic... 

Eskom meets with CEOs, BLSA, JSE to discuss possible electricity solutions

By: Tasneem Bulbulia     1st August 2022 State-owned utility Eskom met with CEOs and leadership from over 70 private institutions in a session led by the JSE and business organisation Business Leadership South Africa (BLSA) on July 29, as part of ongoing efforts to resolve the long-running electricity crisis. “The purpose of the... 

An image of an electricity pylon and the sun
Photo by Bloomberg
Eskom is collaborating with business as part of its efforts to resolve the long-running electricity crisis.

Absa PMI dips below 50 in July

By: Schalk Burger     1st August 2022 The Absa Purchasing Managers’ Index (PMI) declined from 52.2 points in June to 47.6 in July, suggesting that the manufacturing sector experienced a tough start to the third quarter following a weak second quarter, Absa says. "This is the first reading below the neutral 50-point threshold since... 

Ethiopian Airlines becomes first in Africa to order Airbus A350-1000 airliners

By: Rebecca Campbell     1st August 2022 Ethiopian Airlines, that country’s national flag carrier, has become the first African airline to order the Airbus A350-1000 airliner, the largest model in the new-generation Airbus A350XWB family. The airline did so by converting an existing order for four of the smaller A350-900s into an order... 

Artist’s impression of an A350-1000 in Ethiopian Airlines livery
Photo by Airbus
Artist’s impression of an A350-1000 in Ethiopian Airlines livery

Airlink announces new service between Cape Town and Maputo

By: Rebecca Campbell     1st August 2022 South African regional airline Airlink has announced that it will start direct flights between Cape Town in South Africa and Maputo, the capital of Mozambique, on August 31. This will be the first direct air service between the two cities. “Airlink is responding to the call of the travelling... 

Nedbank sees South Africa clean energy loans jump to R50bn

By: Bloomberg     1st August 2022 Nedbank Group wants to almost double its lending to green energy projects in South Africa over the next two years as it seeks to cement its position as a market leader in funding renewable power projects. The bank’s lending toward the government’s Renewable Independent Power Producer Programme –... 

Cell C recap delayed by a month

By: Natasha Odendaal     1st August 2022 The recapitalisation of mobile operator Cell C has been delayed to the end of August, JSE-listed Blue Label Telecoms said in an update to shareholders on Monday The overall recapitalisation transaction was initially expected to proceed to final close late in July after lenders of the embattled... 

MTN to report increases in six months to June

By: Natasha Odendaal     1st August 2022 Telecommunications group MTN expects to report an increase in earnings per share (EPS) of between 195% and 205%, or between 289c and 303c, for the six months ended June 30. This will bring the EPS for the interim period to between 437c and 451c, compared with the 148c reported in the prior... 

President Ramaphosa’s got it right, says ex-Eskom CEO on new energy plan  

By: Martin Creamer     1st August 2022 African Rainbow Energy and Power CEO and former Eskom CEO Brian Dames concurs fully with the energy plan unveiled by President Cyril Ramaphosa. “I think he’s got it right,” was Dames's summing up of the President's energy initiative during a discussion at the Coal & Energy Transition Day, covered... 

Creamer Media screenshot image.
Coal & Energy Transition Day covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Nersa consultation paper on next Eskom tariff points to possible 38.1% hike 

By: Terence Creamer     29th July 2022 The National Energy Regulator of South Africa (Nersa) has formally initiated the process of adjudicating Eskom’s next tariff increase with the publication of a consultation paper on the utility’s allowable revenue application for 2023/24 and 2024/25. The paper includes a pro forma tariff... 

Nersa hearings to be held from September 19 to 23
Photo by Creamer Media
Nersa hearings to be held from September 19 to 23

Trade surplus narrows to R24.23bn in June

By: Reuters     29th July 2022 South Africa recorded a trade surplus of R24.23-billion in June, down from a revised surplus of R30.85-billion in May, data from the revenue service showed on Friday. Exports rose 1.6% month on month to R184.61-billion, while imports were up 6.3% at R160.38-billion, the South African Revenue... 

Sanral upgrading the N2 from KwaMashu to Umdloti

By: Schalk Burger     29th July 2022  Traffic on the N2 between the KwaMashu interchange and Umdloti bridge will be disrupted over the next two months to bring in and place concrete barriers alongside the median to protect workers building a median barrier wall and additional lanes, the South African National Roads Agency Limited... 

Transnet Pipelines seeking partnership for LNG terminal in Richards Bay

By: Tasneem Bulbulia     29th July 2022 Transnet Pipelines (TPL), an operating division of Transnet, is participating in the planned Section 56 process for Request for Proposals (RFP) issued by Transnet National Ports Authority (TNPA). TNPA is seeking a terminal operator to design, develop, build, finance, operate, maintain and... 

Vukile acquires Pan Africa Shopping Centre

By: Tasneem Bulbulia     29th July 2022 JSE-listed Vukile Property Fund has expanded its significant investment in South African township, rural and commuter shopping centres with its agreement to acquire the landmark Pan Africa Shopping Centre, in Alexandra, Gauteng, which is due for a second phase extension. This R669-million Pan... 

An image showing the outside of the Pan Africa Shopping Centre, in Alexandra, Gauteng
Photo by Franz Rab
Pan Africa Shopping Centre, in Alexandra, Gauteng

Ford unveils new body shop as it readies for next-generation Ranger 

By: Irma Venter     29th July 2022 Ford South Africa (SA) has unveiled a completely new body shop for the assembly of the new-generation Ranger bakkie at its Silverton plant, in Pretoria, featuring the plant’s highest-ever levels of automation and quality control. The new body shop forms part of a R15.8-billion investment by the... 

Image of Ford SA's new bodyshop
Inside Ford SA's new bodyshop

Anglo’s Pearce decries Queensland’s dramatic increase in royalty rates  

By: Martin Creamer     29th July 2022 The percentage that Australia’s Queensland government will take from Anglo American in 2023 is set to rise from 48% to 59% at current prices, owing to Queensland dramatically increasing its royalty rates without consultation. Anglo American finance director Stephen Pearce decried this as having a... 

Anglo American finance director Stephen Pearce.
Anglo American results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Increased import duties will help local industry compete against dumped goods – SATMC

By: Schalk Burger     29th July 2022 Industry association the South African Tyre Manufacturers Conference (SATMC) says more than 70% of tyres sold by its members are produced in South Africa. It further notes that its application to the International Trade Administration Commission of South Africa (Itac) is part of efforts to rescue... 

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