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

IBM’s $1bn investment in partner ecosystem to accelerate digital transformation of businesses

Information technology (IT) multinational IBM has started a new technology unit that encompasses all its brands and technology community, placing its business partners at the forefront of the goal to provide client organisations with access to integrated technology teams to solve their challenges and advance their digital transformation, says IBM Southern Africa technology executive Craig [...]

Anglo on trajectory towards becoming minerals solutions provider

Diversified mining and marketing company Anglo American, which shot the lights out on Thursday with the presentation of an all-time record set of half-year results, is on its way to becoming a minerals solutions provider rather than a digger of holes. The London- and Johannesburg-listed Anglo is now about the sustainable delivery of value for all [...]

Govt’s R38.9bn relief package

Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the R38.9-billion relief packaged unveiled by Finance Minister Tito Mboweni to support businesses affected by the recent riots in KwaZulu-Natal and Gauteng, as well as to support poor citizens and vulnerable workers who continue to be affected by the Covid-19-related lockdowns.

AMSA reports decade-high interim Ebitda

Primary steel producer ArcelorMittal South Africa (AMSA) has reported its strongest interim earnings before interest, taxes, depreciation and amortisation (Ebitda) in a decade at R3.21-billion. This compares with a loss of R1.2-billion reported for the six months ended June 30, 2020.

Imperial goes ahead with J&J Group acquisition

JSE-listed Imperial Logistics’ subsidiary Imperial Capital Limited (ICL) has entered into agreements to acquire the J&J Group logistics company, which operates in Africa, for R4.4-billion. Imperial earlier in July announced it is in discussions involving the acquisition of a privately owned group of companies known as the J&J Group.

UIF allocates R5.3bn for TERS unrest benefit – Nxesi

The Unemployment Insurance Fund (UIF) has set aside R5.3-billion for the new Temporary Employer/Employee Relief Scheme (TERS) benefit to help employees and employers negatively impacted by the civil unrest in KwaZulu-Natal and parts of Gauteng in mid-July, Employment and Labour Minister Thulas Nxesi confirmed on July 28. TERS is designed to assist companies who are temporarily in distress, [...]

Tax from ‘resilient’ mining sector underpins R38.9bn post-riot relief package

Tax revenues from South Africa’s high-flying mining industry have provided the financial underpin for a new R38.9-billion relief package unveiled by Finance Minister Tito Mboweni on Wednesday to support businesses devastated by recent looting and property destruction and to provide ongoing relief to workers and citizens negatively affected by Covid-19 lockdowns. The package includes R36.2-billion [...]

Potatoes South Africa, McCain warn of looming potato dumping threat

Industry association Potatoes South Africa (PSA) has highlighted the imminent threat looming for the local potatoes industry, considering the recent lapse of antidumping duty protection. South Africa has long been considered a prime destination for dumping below-cost frozen processed potato products, particularly from the Netherlands and Belgium, states PSA.

Kumba working with Transnet to fix tracks so that rail speed can be lifted

Anglo American group mining company Kumba Iron Ore, which on Tuesday reported a superb set of record half-year results, is working with Transnet to refurbish the iron-ore export line so that trains can move at an average speed higher than the current 30 km an hour. In the six months to June 30, Kumba’s earnings [...]

Bandits steal truckloads of copper worth millions in southern Africa – sources

Crime gangs have stolen dozens of truckloads of copper owned by miners and traders including Glencore, Trafigura and Traxys this year as they were heading to ports in southern Africa, three sources with direct knowledge of the matter said. Record high copper prices have triggered an increase in hijackings in recent months in Botswana, the [...]

Exuberant Kumba Iron Ore’s stakeholders receive R51bn shared value boost

Anglo American group iron-ore mining company Kumba Iron Ore, which achieved record earnings with great exuberance, has shared a sky-high half-year R51-billion with its stakeholders that include the fiscus, local suppliers, nearby communities, employees, shareholders and society as a whole. From a financial perspective, Kumba delivered earnings before interest, taxation, depreciation and amortisation (Ebitda) of [...]

JDA celebrates 20 years in existence

The Johannesburg Development Agency (JDA) celebrates 20 years in existence this year and the City of Johannesburg (CoJ) says the agency will aim to further advance its impact over the next ten years by building a welcoming, competitive and resilient city to live, work and play in. The agency has undertaken more than 1 000 projects throughout Johannesburg [...]