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

ARB’s lighting division lifts its interim profitability

Investment company ARB Holdings on Thursday reported that turnover growth in its lighting division had helped to offset turnover loss in the electrical division for the six months ended December 31. The company’s revenue for the six months increased by 4.5% year-on-year to R1.42-billion, as a result of a 36.1% year-on-year increase in the lighting [...]

GE’s gas power unit makes emergency-power submissions to DMRE

The newly created gas power unit of General Electric (GE) has confirmed that it has made both direct and indirect submissions to the Department of Mineral Resources and Energy (DMRE) in response to a request for information (RFI) issued in December for 3 000 MW of emergency electricity solutions that could be “grid connected in the [...]

TPT boosts equipment capabilities with R2bn investment

Transnet Port Terminals (TPT) has already invested R2-billion to replace ageing equipment during the 2020 calendar year in response to industry calls for equipment that will improve performance across its operations. The investment included the acquisition of two mobile harbour cranes for the Port Elizabeth Container Terminal, which will largely benefit the automotive and the [...]

Investigation under way following fatal rail accident in Johannesburg

An investigation is under way to determine the cause of the accident between a Passenger Rail Agency of South Africa (PRASA) Premier Classe passenger train and a stationary Transnet train between the Roodepoort and Horizon Stations, in Johannesburg, on Wednesday evening. The investigation is being conducted by PRASA’s Main Line Passenger Services team.

SAB empowerment scheme generates almost R14bn in decade-long run

When the South African Breweries (SAB) Zenzele broad-based black economic empowerment (BBBEE) scheme winds down in April 2020, it will have generated almost R14-billion in value for South Africa, the beermaker said in a statement on Wednesday. Created with the intention of generating sustainable ownership and economic wealth opportunities for previously disadvantaged groups and redressing [...]

‘Green’ is king as ESG sweeps through mining world – DRDGold

Community members are being recruited to vegetate Johannesburg’s gold mine dumps as part of a dust suppression, environmental protection and ‘green’ imperative, DRDGold CEO Niël Pretorius said on Wednesday. In presenting a stupendously successful set of half-year results that saw operating profit soar 604% to R719.6-million for the six months to December 31, he conceded [...]

Minerals Council calls for an end to SOE bailouts

Although President Cyril Ramaphosa is being buffeted by many perspectives from a range of constituencies, the Minerals Council South Africa says it is pleased that he signals clear direction and action on critical issues in the country. Thursday night’s State of the Nation Address and the National Budget speech on February 26 will provide powerful [...]

Air pollution from fossil fuels costs world R120bn a day – Greenpeace

Air pollution from burning fossil fuels – primarily coal, oil and gas – contributes to an estimated 4.5-million deaths each year worldwide, as well as to economic losses of about 3.3% of global gross domestic product, new research from Greenpeace Southeast Asia and the Centre for Research on Energy and Clean Air (CREA) shows. “There [...]

South Africa, Zimbabwe to operate one-stop border post in 2024

A one-stop border post that will fast-track trade between South Africa and Zimbabwe will be fully operational at Beitbridge in 2024, according to South African Home Affairs Minister Aaron Motsoaledi. The crossing is one of Africa’s busiest land borders, with about 25,000 people and 500 trucks passing though daily. However, delays and congestion mean it [...]

Commission recommends approval of PepsiCo’s acquisition of Pioneer Foods

South Africa's Competition Commission has recommended that the Competition Tribunal conditionally approve the acquisition of Pioneer Foods by a wholly-owned subsidiary of United States multinational food and beverage company PepsiCo. Simba gave notice last July of its intention to acquire the issued ordinary shares of Pioneer Foods in a deal then estimated at nearly R25-billion and touted as one of PepsiCo’s largest [...]

Total chief dismisses Tullow Oil takeover idea

Total chief Patrick Pouyanne dismissed the idea it might buy its partner in East Africa and Guyana, Tullow Oil, whose share price slumped to 19-year lows in December over a string of bad news, stoking takeover speculation. Total is a partner in all growth markets for Tullow Oil whose market capitalisation shrank to around 633 [...]