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

Western Johannesburg’s gold endowment set for upliftment by new CEO appointment

Developing gold mining company West Wits Mining, which is reinvigorating the gold mining prospects west Johannesburg with its Witwatersrand Basin Project (WBP), on Thursday November 28 announced the appointment of West Wits Mining COO Rudi Deysel as the CEO to lead the execution of what is a timely phase for West Wits to deliver Qala [...]

Unrest blocks Mozambique’s South African border for a second day

Mozambique’s main border crossing with South Africa was blocked for a second day on Thursday due to political unrest, the highway concessionaire said. Renewed demonstrations after last month’s elections have led to road closures in Mozambique’s capital, as well as repeated disruptions at the Ressano Garcia border crossing, which South Africa’s mines use to move [...]

South Africa could play indispensable role in the global hydrogen value chain, says Mistra’s …

Speakers participating in the Mapungubwe Institute for Strategic Reflection’s (Mistra’s) ninth yearly platinum group metals (PGM) roundtable, on November 27, agreed that South Africa has potential to become a leading player in the hydrogen and fuel cell industry. By developing capacities, the country can become an indispensable part of the whole hydrogen value chain from mining of minerals [...]

Competition approval awaited for re-start of major ferromanganese facility – Menar

Private investment company Menar, which is awaiting Competition Commission approval following its bid for the large Metalloys ferromanganese facility in Meyerton, is looking to restart at least two of the four furnaces on the site of what was once the world’s largest ferromanganese production facility before being shut in 2020. Bringing two furnaces back online [...]

Tau appeals block of $730m Vodacom deal

South Africa’s Trade, Industry and Competition Minister Parks Tau is appealing an order by the nation’s Competition Tribunal that blocked Vodacom Group’s R13.2-billion deal to buy a stake in Remgro’s fibre businesses. Parks Tau, whose ministry also oversees the competition regulators in the country, is seeking to overturn the decision and allow the merger to proceed, according [...]

Vodacom, Maziv to appeal the prohibition of their fibre deal

Mobile network operator Vodacom and connectivity and telecommunications infrastructure company Maziv have decided to lodge a notice of appeal with the Competition Appeal Court after the Competition Tribunal in October prohibited Vodacom's proposed acquisition of a 30% stake in Maziv. Maziv will house all of the fibre assets owned by private equity firm Community Investment [...]

Zeda achieves record full-year revenue despite challenges

African mobility services provider Zeda achieved record revenue of R10.5-billion for the financial year ended September 30 – a 14.5% year-on-year increase – and based off a smaller fleet than pre-Covid-19 levels, CEO Ramasela Ganda said on November 26. Zeda declared a final dividend of 50c, taking the total yearly dividend to R1.

DMRE to push for Cabinet approval of new-look IRP by end-March despite big revisions

The Department of Mineral Resources and Energy (DMRE) has reiterated its aim of securing Cabinet approval for a new Integrated Resource Plan (IRP) for electricity by the end of March after releasing a remodelled draft plan on Tuesday. Dubbed IRP2024, the updated plan includes a reference case and scenarios that differ materially from those contained [...]

Stefanutti remains commercially solvent but says its future is uncertain

Multidisciplinary construction group Stefanutti Stocks says it is still commercially solvent despite its current liabilities exceeding its current assets by more than R1.2-billion and its total liabilities exceeding total assets by R94-million, as at August 31. This is worse than at the end of February, when the company’s liabilities exceeded its assets by a little [...]

Barloworld optimistic of prospects for 2025, but cautions about impact of geopolitical risk

JSE-listed Barloworld reported a 7% year-on-year decline in revenue to R41.9-billion for the 12 months ended September 30. Barloworld group CEO Dominic Sewela said at its financial year-end results presentation on November 25 that this decline was primarily driven by subdued trading results from the group’s Equipment Southern Africa business, which was down 12.7% from [...]

Civil society organisations launch legal challenge seeking judicial review of seismic surveying …

Civil society organisations The Green Connection, Aukotowa Fisheries Primary Co-Operative and Natural Justice have launched a judicial review of decisions to grant authorisation to seismic and geophysical data analytics company TGS to conduct seismic surveys off South Africa's Western Cape and Northern Cape coastlines. The case challenges decisions made by the Department of Minerals and [...]

PE firm Harith buys African infrastructure fund for R6.5bn

A group of investors led by South African private equity firm Harith General Partners agreed to buy out an infrastructure fund with stakes in assets including Lanseria International Airport and Kelvin Power Station for R6.5-billion. The deal provides an exit opportunity for investors in the first Pan African Infrastructure Development Fund, which includes the continent’s [...]

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