News2018-08-01T16:20:10+01:00

Judge Dennis Davis to lead new Companies Tribunal

Trade, Industry and Competition Minister Ebrahim Patel has announced the appointment of new members to the Companies Tribunal, including chairperson Judge Dennis Davis. The Companies Tribunal facilitates the resolution of company disputes through conciliation, mediation and arbitration, potentially avoiding lengthy and costly litigation. 

R3bn Scaw project is South Africa’s first flat-steel investment in decades

Construction tower cranes have been something of a rare sight on the Germiston skyline over the past few decades as the once-thriving industrial hub has faced severe deindustrialisation headwinds. Several such cranes have made a reappearance at Scaw Metals’ Union Junction complex in Ekurhuleni in recent months, however, in support of a R3-billion steel investment [...]

Loadshedding jumps to Stage 6

Stage 6 loadshedding will be implemented from midday until further notice, Eskom announced. "This is due to a high number of breakdowns since midnight, as well as the requirement to strictly preserve the remaining emergency generation reserves," the utility said. Eskom has overspent its budget for diesel, which fuels gas turbines. The turbines provide emergency [...]

SSC to build massive wind farm, green hydrogen production plant

Diversified minerals and investment group Siyakhula Sonke Empowerment Corporation (SSC Group) has confirmed it is in pre-feasibility stage and finalising an environment risk assessment on a 117 MW wind farm project, which will power a 69 MW electrolysis production plant, in Jeffreys Bay, in the Eastern Cape. The electrolysis plant will have a green hydrogen [...]

Drakenstein municipality awarded R1.4bn grant for wastewater upgrades

The Drakenstein municipality has been awarded a R1.4-billion Budget facility for Infrastructure (BFI) grant over the next three financial years. National Treasury awards these grants to selected municipalities to fund large and strategic interventions with projects required to have a minimum total cost of R1-billion and significant long-term impacts on economic growth, social equity and [...]

Eskom moves to appeal Babcock boiler maintenance judgment

Eskom has given notice that it intends applying for leave to appeal a Gauteng High Court judgment setting aside a decision by the utility to exclude Babcock Ntuthuko Engineering from boiler maintenance contracts at 15 coal power stations, as well as an order that Eskom should conclude a fresh tender process within six months. The [...]

Partnership formed for circular, recycled battery materials

Recycling technology and supply chain platform ACE Green Recycling (ACE) and diversified miner Glencore have entered into a long-term supply agreement for recycled lead, as well as key battery metal based end products from recycled lithium-ion batteries. This strategic partnership will help create a circular supply chain on a global scale for high-demand battery materials, [...]

Big diesel price cut announced, petrol hiked

On Wednesday, the price of both 93 and 95 unleaded petrol will rise by 59c a litre, while diesel will fall by between R1.52 and R1.57 a litre.  In Gauteng, 95 petrol will cost R23.46 a litre from Wednesday, compared to R20.29 a year ago - but down from a peak of R26.74 in July. [...]

Clough's collapse leaves more than $8bn in projects in limbo

More than $8-billion worth of gas, power, rail and mining projects across Australia, Mongolia and Papua New Guinea face delays following the collapse of engineering firm Clough on Monday. Projects that could be hit include the expansion of the Oyu Tolgoi copper mine in Mongolia, run by Rio Tinto, and major power plant and transmission [...]

Germany weighs aid for €10bn hydrogen plant in Namibia

Germany is considering providing aid for a €10-billion hydrogen project in Namibia, according to people familiar with the matter. The country’s State-backed development bank KfW is currently in talks with the Namibian government and the German-South African consortium Hyphen Hydrogen Energy about a possible state guarantee or loan, the people said, asking not to be [...]

Fight against State capture gaining momentum – Ramaphosa

President Cyril Ramaphosa said on Monday that the fight against State capture and corruption is gaining momentum. He wrote in his weekly letter to the nation that in the last few months, several cases have been brought to court, with former executives of State-owned enterprises (SOEs) Eskom and Transnet charged alongside business people for allegedly [...]

DBSA reports increased debt funding in six months ended September 30

Development finance institution the Development Bank of Southern Africa (DBSA) said total debt funding increased to R60-billion for the interim period ended September 30, up from R55-billion as at March 31, primarily owing to currency movements. Despite an increase in debt funding, loan disbursement activities amounted to about R4.5-billion and development bonds disbursement amounted to [...]

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