Household wealth takes R830bn knock quarter-on-quarter

A new study by insurance provider Momentum and the University of South Africa has found that households’ real net wealth had decreased by about R828-billion from the fourth quarter of last year to the first quarter of this year. Momentum economist Johann van Tonder says this estimated real quarterly decline is 52.5% more than the [...]

Select Committee says DMRE is improving its service delivery

The Select Committee on Land Reform, Environment, Mineral Resources and Energy has welcomed the plan to implement the proposed nuclear new build programme at a scale and pace that the country can afford to ensure the security of energy supply. The Department of Mineral Resources and Energy (DMRE) briefed the committee on May 24 on [...]

AMCU calls for testing of all employees at affiliated workplaces

The Association of Mineworkers and Construction Union (AMCU) has again called on employers to test all employees for Covid-19 as the pandemic continues to spread across South Africa. AMCU notes that while it has consistently called for the testing of all workers, the official stance of government and employers has been to only test workers [...]

Work resumes on N2 Msikaba bridge project

Construction has started on the foundations for the Msikaba bridge being constructed by Concor Infrastructure, in joint venture (JV) with Mota-Engil Construction South Africa (MECSA). The R1.65-billion contract is poised to deliver the longest cable-stayed bridge in Africa. 

Africa proactive in implementing measures to flatten Covid-19 curve – Ramaphosa

As the African continent celebrates Africa Day on Monday amid the global coronavirus (Covid-19) pandemic, South African President Cyril Ramaphosa acknowledged that despite the resource challenges facing the continent, governments have been swift and proactive in implementing measures in the fight against the virus. Ramaphosa addressed South Africans in his weekly column saying although the [...]

Northam Platinum strengthens liquidity, attracts R411m new funding

Platinum group metals mining company Northam Platinum has strengthened its liquidity position in response to Covid-19 by attracting R411-million of additional new long-term funding during the lockdown period as part of the completion of its R2.65-billion restructuring of its domestic medium-term note programme. “We believe the company is well placed to weather the ongoing Covid [...]

Mponeng detects 164 Covid cases, suspends mining – AngloGold Ashanti

Gold mining company AngloGold Ashanti on Sunday confirmed that, following the detection of its first positive Covid-19 case at its Mponeng gold mine last week, a comprehensive screening, contact tracing and testing programme had revealed 164 positive cases at the site in Merafong, in Gauteng province. Six hundred and fifty tests had been conducted since last [...]

Easing of South Africa lockdown may bring no respite for smokers

The imminent easing of lockdown rules in South Africa may bring no respite for smokers who’ve been contending with a tobacco sales ban for almost two months. Cooperative Governance and Traditional Affairs Minister Nkosazana Dlamini-Zuma, whose department plays a key role in determining the lockdown rules, argued in favor of extending the ban when restrictions [...]

Leon lists measures to attract mining investment in these challenging times

South Africa should reconsider the appointment of an independent regulator to speed up minerals licensing, Herbert Smith Freehills Africa co-chair Peter Leon said during a webinar this week. Responding to host Patrick Leyden during a webinar on re-imagining the sub-Saharan mining sector, Leon said a proposal was put to an African National Congress (ANC) five-yearly [...]

African airline sector hammered by anti-Covid-19 flight restrictions

The International Air Transport Association (Iata), the representative body for the global airline industry, reported at a media briefing on May 21 that, on May 12, airline flight departures in Africa were 94% lower than they had been on January 1. The entire African airline sector had effectively been grounded. African airlines had lost revenues [...]

Russian nuclear group spotlights role of nuclear medicine in countering Covid-19

Giant Russian State-owned nuclear energy corporation group Rosatom has highlighted the value of nuclear medical techniques in sterilising medical devices and personal protective equipment, as part of global efforts to counter the Covid-19 pandemic. Nuclear medical sterilisation destroys viruses, spores and other pathogens. So far, Rosatom itself has sterilised more than 330 000 Covid-19 portable [...]

Eskom CEO sees sustainable future if R450bn debt pile can be slashed

The chief executive of South Africa's Eskom said on Thursday the State power utility could become financially viable and do without government bailouts if it could more than halve its debt to R200-billion. Eskom has about R450-billion of debt and is mired in financial crisis as it does not generate enough earnings to meet its debt [...]