On Wednesday, the petrol price (both 93 and 95 unleaded) will be hiked by R1.71 a litre. The wholesale price of diesel will be increased by a painful R2.84 a litre. According to the Automobile Association, this is a record price increase.   Illuminating paraffin prices will be hiked by R2.78 a litre. A litre of 95 [...]

The South Africa component industry will invest R4.8-billion in the South African economy up to the end of next year, says National Association of Automotive Component and Allied Manufacturers (NAACAM) CEO Renai Moothilal. Moothilal spoke at the NAACAM Show 2023, hosted in Tshwane last week.

Diversified mining company African Rainbow Minerals (ARM) has declared a R2.6-billion final dividend in a financial year of R6.6-billion worth of dividends being allocated to its shareholders. Net cash of the Johannesburg Stock Exchange-listed company, headed by executive chairperson Dr Patrice Motsepe, stood at R9 779-million as at June 30, amid a headline earnings decrease of [...]

Although persisting with his position that he has the powers to determine the sources of new generation, Electricity Minister Dr Kgosientsho Ramokgopa says because the Department of Mineral Resources and Energy’s (DMRE’s) updating process is well advanced, he is supporting the department in preparing to release the new Integrated Resource Plan (IRP) for public consultation [...]

More than two years since G7 Renewable Energies and EDF Renewables were announced as preferred bidders in the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), their projects, totalling 203 MW, are finally gaining traction. The South African Wind Energy Association (SAWEA) on September 1 welcomed the news announcing the bidders’ legal close in the [...]

JSE-listed real estate investment company Fortress has increased its portfolio of direct real estate assets to R30-billion and achieved the lowest vacancy rate of 3.7% since its listing in October 2009. “At the core of this result is the continued capital recycling through the disposal of older, under-performing properties to fund new developments which are [...]

Industrial company Afro-Zonke has committed to investing R2.1-billion in the establishment of a chlor-alkali plant in the Midvaal area of Gauteng. The manufacturing facility is expected to have a production capacity of 50 000 t/y and will focus on the production of essential products such as caustic soda, chlorine, industrial hydrochloric acid, sodium hypochlorite, calcium [...]

Engineering News editor Terence Creamer discusses Mineral Resources and Energy Minister Gwede Mantashe's plan to take an updated Integrated Resource Plan through Cabinet processes soon and the latest update from the Department of Public Enterprises on Eskom's restructuring.

New Transnet chairperson Andile Sangqu has indicated that the troubled State-owned freight logistics group, which has hitherto prided itself on being financially self-sufficient, may require and equity injection to implement a turnaround strategy that is currently under development. The group reported a net loss of R5.7-billion for the 2022/23 financial year on the back of [...]

The Johannesburg Development Agency (JDA) has completed the southern section of the Modderfontein bridge project following an extensive period of rehabilitation and modernisation.  The upstream gabion works installed on the south bridge single cell have been extended and are now open and in use, relieving some of the past congestion from when the project started.

JSE-listed packaging group Nampak has received formal approval in respect of the R1-billion rights offer circular to be published on or around Monday, September 4. The subscription price of R175 a share represents a discount of about 23.49% to the 30-day volume-weighted average traded price of Nampak’s ordinary shares at close of business on August 30.

Cape Town Air Access, a multiagency initiative led by Western Cape provincial trade, investment and tourism promotion agency Wesgro, on Thursday released its latest figures on the economic benefits brought to Cape Town and the Western Cape by international air passengers arriving at Cape Town International Airport. Last year, 605 000 such passengers arrived at this [...]