Union leaders have gone underground to fetch chronically ill mineworkers at the Bakubung platinum mine in Rustenburg, where an underground sit-in is being staged, and to bring them back to surface. Bakubung Platinum Mine is owned by Wesizwe Platinum, a company listed on the Johannesburg Stock Exchange.
Multinational engineering and construction group Murray & Roberts (M&R) says it has made meaningful progress in reducing its debt with its consortium of South African banks. Following on from the sale, in April, of its 50% shareholding in the Bombela Concession Company, which resulted in the halving of its debt to about R1-billion, the company has [...]
Rand Water on Friday called on municipalities to urgently pay their water debt as the amount owing to the water utility escalates and threatens its financial position. The water utility said it is deeply concerned over the escalating debts, currently standing at a cumulative R4.1-billion, caused by municipalities' failure to honour their bulk water purchase [...]
The International Air Transport Association (IATA), which is the global representative body for the airline industry, “is still very focused on Africa”, assured IATA regional VP Africa and Middle East Kamil Alawadhi in a virtual media briefing on Thursday. He highlighted IATA’s Focus Africa initiative, which has six priority areas – in IATA’s order, safety, [...]
Africa could lose as much as $25-billion annually due to the European Union’s new carbon border tax, hurting the continent’s trade by penalizing valued-added exports such as iron and fertilizers, African Development Bank Group president Akinwumi Adesina said. The EU’s carbon border adjustment mechanism is a tax on carbon-intensive goods such as fertilizers, cement, iron, [...]
South Africa’s current account deficit shrank by much more than expected in the third quarter, buoyed by a surge in the trade balance as the volume of imports fell. The deficit on the current account, the broadest measure of trade in goods and services, shrank to an annualised 0.3% of gross domestic product, or R19.3-billion, [...]
The National Energy Regulator of South Africa (Nersa) reports that it registered a further 98 generation facilities – with a combined capacity of 908 MW and an investment value of R17.3-billion – during the second quarter of its 2023/24 financial year. These registrations, which took place from July to September, raise to 1 185 the [...]
The South African mining industry is years ahead of its international peers when it comes to local and community engagement, Australia-listed Jupiter Mines, which owns 49.9% of the Tshipi manganese mine in South Africa’s Northern Cape, told its shareholders on Tuesday. The controlling shareholder of the a long-life, low-cost Tshipi is South Africa’s Ntsimbintle Mining, [...]
South African independent power producer the SOLA Group has started construction on a pioneering 195 MW solar photovoltaic (PV) plant in the Free State, which will wheel and sell clean electricity across the country to multiple buyers eager to decarbonised their operations. The R2.8-billion project has already secured an initial three multinational anchor offtakers, but [...]
JSE-listed food manufacturer RCL Foods and sugar industry organisation the South African Sugar Association (SASA) on December 5 launched urgent applications at the Durban High Court to prevent the planned meeting of creditors of troubled agriculture and sugarcane company Tongaat Hulett on December 8. This was revealed by Tongaat's business rescue practitioners (BRPs) in a [...]
The cost of logistics in South Africa has increased significantly in the last eight years to about R800-billion a year at present and accounting for half of all products’ inherent costs. This while the country’s logistics ability is declining.
With more countries to become members of the Brazil, Russia, India, China and South Africa (Brics) grouping, the South African agricultural industry will seek to deepen trade with these countries, particularly Saudi Arabia as a $20-billion importer of agricultural produce every year. The European Union and Asia nonetheless remain fundamentally important markets to South Africa’s [...]