Prices for 93-octane petrol will increase by 65c/ℓ and 95-octane petrol by 67c/ℓ, while 0.05% sulphur diesel will increase by 3c/ℓ and 0.005% sulphur diesel by less than 2c/ℓ from April 3, the Minister of Mineral Resources and Energy Gwede Mantashe announced on March 28. However, the wholesale illuminating paraffin price will decrease by 29c/ℓ [...]

Cape Town Mayor Geordin Hill-Lewis has tabled a R76.4-billion draft budget for the city for the 2024/25 financial year. The budget proposes record infrastructure investment of R12.1-billion for the year, and nearly R40-billion over the next three years.

South Africa recorded smaller foreign direct investment (FDI) inflows of R16.2-billion in the fourth quarter of 2023, from R26-billion in the third quarter, central bank data showed on Thursday. For 2023 as a whole direct investment inflows moderated to 96.5 billion rand, down from R151-billion in 2022, as equity investment by foreign parent companies in [...]

Northern Cape copper company Copper 360 announced on Wednesday that it has signed a memorandum of understanding (MOU) with DRDGOLD’s Far West Gold Recoveries tailings retreatment company to conduct a due diligence on its copper tailings dams to assess their economic copper recovery viability. During the due diligence period, Far West Gold Recoveries will, through [...]

South Africa’s Department of Science and Innovation and the United Nations Development Programme (UNDP) have jointly launched a new fund to stimulate innovation and entrepreneurship in the country’s tertiary education sector. The Higher Education Innovation Fund (HEIF), as it is called, is intended to support those, at the country’s universities and technical and vocational education [...]

Royal Bafokeng Holdings (RBH) has entered into a transaction agreement alongside Actis to jointly acquire 100% of independent owners, operators and developers of mast and tower infrastructure Swiftnet from Telkom South Africa, with RMB acting as financial adviser to RBH on the transaction. With an enterprise value of R6.75-billion, it is one of the largest [...]

JSE-listed information and communications technology services firm EOH reported a 2% year-on-year decrease in revenue to R3.1-billion for the six months ended January 31. Group operating profit also decreased, to R9-million, from R142-million in the six months ended January 31, 2023.

Environmental organisations The Green Connection (TGC) and Natural Justice have submitted an application in the High Court against the environmental authorisation granted to TotalEnergies Exploration and Production South Africa (Teepsa) for exploratory drilling in Blocks 5, 6 and 7 on the Cape Town and Cape Agulhas coast. The respondents include Mineral Resources and Energy Minister [...]

African infrastructure funding specialist, the Africa Finance Corporation (AFC), announced on Tuesday that it had successfully closed its largest ever debt facility. This is a $1.16-billion syndicated loan, which had attracted new lenders from Asia, Europe and the Middle East. The AFC’s target had been $1-billion, but the facility had been upsized because it had [...]

The Richards Bay Multipurpose Terminal (MPT) has taken delivery of new cargo handling equipment, aiding the loading of export coal, magnetite, chrome and pig iron aboard calling Cape-sized vessels. The terminal is leasing 75 dumpers and 35 payloaders for 12 months – a temporary measure after an unsuccessful bidder challenged the awarding of a new [...]

The New Development Bank (NDB), set up by the Brics group of emerging economies, aims to make about $5-billion in loans this year, its vice president, Zhou Qiangwu, said on Tuesday. "During the epidemic, our business has been somewhat affected, and now everything is going back on track," Zhou told Reuters on the sidelines of [...]

The copper mining project that Johannesburg Stock Exchange-listed Harmony Gold is developing in Australia has been grated special ‘prescribed project’ status in recognition of its social and economic significance. Harmony, which acquired Eva in December 2022, is currently updating a feasibility study to underpin its proposed development, which is located on the traditional lands of [...]