Funding has closed for the gold-from-dumps mining project west of Johannesburg, which has the potential to make the surrounding towns thrive once again, and be a shining example of what modern mining can be. The full upfront capital of R2.5-billion for the project’s development has been secured, with conditions precedent to its R1.3-bilion senior debt [...]

US Under Secretary of State for Political Affairs Victoria Nuland has lauded the partnership between South Africa and the US, which is expected to result in the US investing $1-billion in South Africa’s energy transition over the next few years. Nuland was speaking during a visit to South African technology and research entity the Council [...]

JSE-listed Telkom has posted a 4.2% decline in group earnings before tax, depreciation and amortisation (Ebidta) for the first quarter of the 2024 financial year amid the continued decline of legacy revenues and higher direct and operating costs. The group’s Ebitda for the quarter ended June 30, 2023, was R2.23-billion, while its Ebitda margin contracted [...]

State-owned rail companies from Botswana and South Africa are seeking funding for a three-billion pula ($230-million) railway line between the two countries to transport commodities including coal. The Mmamabula-Lephalale link will run 113 km and have a capacity of 24-million tons a year. It will connect to existing routes to South Africa’s Richards Bay and [...]

On Wednesday, unleaded petrol (both 93 and 95) will be hiked by 37c a litre, while diesel will increase by 72c a litre. The latest hikes will bring the price of 95 unleaded petrol to R22.83 a litre in Gauteng, compared to R25.42 a year ago. The wholesale price of diesel will now be R20.21 [...]

The South African Tyre Manufacturers Conference (SATMC) says it welcomes the decision by Minister of Trade, Industry and Competition Ebrahim Patel to impose antidumping duties on what it calls “unfairly traded” passenger, truck and bus tyres imported from China, following an investigation by the International Trade Administration Commission (Itac). SATMC represents the four tyre manufacturers with plants [...]

Specialised infrastructure and impact investment management firm Infra Impact Investment Managers has announced that its Infra Impact Mid-Market Infrastructure Fund 1 exceeded its fundraising target, reaching a successful final close at R2.15-billion, or $115-million. The fund continues to provide growth capital for South African-focused mid-market infrastructure businesses. The businesses the fund invests in own real [...]

BMW has launched a new test site in Sokolov, Czechia, aimed at developing self-driving and self-parking. The German car maker says the 300-million euro Future Mobility Development Center (FMDC) will play a key role in the company’s development of automated driving.

Business leaders have joined forces to launch Chapter Zero Southern Africa, a community of eminent board chairpersons and senior directors to lead and engage in boardroom discussions to ensure that fossil carbon emissions are halved by 2030.  This initiative was developed in collaboration with the World Economic Forum and represents the twenty-ninth chapter around the [...]

The De Beers Group faced off tricky macro-economic conditions to record first-half earnings before interest tax depreciation and amortisation (Ebitda) of $0.3-billion, with the diamond company’s 50% mining margin the highest within the Anglo American stable. “Operational performance at De Beers has been really good,” Anglo CE Duncan Wanblad told investment analysts and journalists at [...]

ArcelorMittal South Africa, which slumped to a R448-million loadshedding-induced loss in the interim period to June 30, expects renewable energy and regional infrastructure projects to stimulate a recovery in sales for the remainder of the year but probably without a commensurate price recovery. The JSE-listed company shocked the market on July 20, when it revealed [...]

African governments are unable to finance the $2.8-trillion needed for climate responses beyond the 10% of costs, or $250-billion, they have already committed as of 2022, owing to existing high levels of public debt. However, public finance management transformation can help to correct these countries' fiscal trajectories, free up domestic capital for the climate agenda and [...]