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First hot-rolled coil produced at Scaw’s new R5bn Germiston mill  

By: Terence Creamer     12th November 2024 The first hot-rolled coil (HRC) has been produced at Scaw Metals’ Union Junction complex in Ekurhuleni, heralding the reintroduction of competition into South Africa’s flat-steel market. The R5-billion steel investment, which has been 75% funded by Absa and Investec and 25% funded by the... 

This video, supplied by Scaw Metals, shows the first hot-rolled coil being produced at the new Germiston mill on November 11, 2024

Unemployment rate improves to 32.1% in the third quarter

By: Marleny Arnoldi     12th November 2024 South Africa’s unemployment rate decreased by 1.4 percentage points to 32.1% in the third quarter, from 33.5% in the second quarter. The expanded unemployment rate, which includes discouraged work seekers, decreased by 0.7 of a percentage point to 41.9%, compared with 42.6% in the second quarter. 

People waiting to be hired for day jobs

Hearing into Eskom’s far-reaching retail tariff plan set for Dec 18

By: Terence Creamer     12th November 2024 The National Energy Regulator of South Africa (Nersa) has published timelines for the processing Eskom’s retail tariff plan (RTP) application, in which potentially far-reaching changes to the tariff structure are requested. The timeline deviates slightly from the timelines included in Nersa’s... 

Hearing into Eskom’s far-reaching retail tariff plan set for Dec 18

R5.2bn Potsdam upgrade on track for completion in 2027 – City of Cape Town

By: Irma Venter     12th November 2024 Twenty months into the large-scale upgrade of the Potsdam wastewater treatment works (WWTW), the City of Cape Town (CoCT) says the R5.2-billion project is on track to be completed in 2027. The upgrade is being executed through two construction contracts – one for civil infrastructure and another... 

Image off construction at Potsdam WWTW
Construction work at Potsdam WWTW

Overnight water throttling part of new measures to combat Joburg’s water challenges 

By: Natasha Odendaal     12th November 2024 Johannesburg Water will start throttling water supply from between 21:00 and 04:00, as the city experiences increasingly frequent interruptions to daily water supply. The new measure, set to start on November 14 and be implemented continuously until the system has fully recovered, will enable... 

Water and Sanitation Minister Pemmy Majodina discusses the measures being implemented to mitigate the water challenges experienced in Johannesburg. Recorded: 11.11.2024. Videowork: Shadwyn Dickinson.

Equites raises R558m in debt auction

By: Sabrina Jardim     12th November 2024 JSE-listed real estate investment trust (REIT), Equites Property Fund has raised R558-million through the public auction of three-year and five-year listed senior unsecured floating rate notes in the South African debt capital market. Equites raised R188-million in a three-year note maturing... 

Drier season produces lower than average yield for South Africa’s sugarcane growers

By: Sabrina Jardim     12th November 2024 This year’s sugarcane harvest is expected to be 10% lower than average, largely owing to unusually drier conditions in the majority of KwaZulu-Natal's growing areas, says industry body SA Canegrowers.   

Sanari invests R87.5m in power generation systems company Energenic

By: Schalk Burger     12th November 2024 Private equity firm Sanari Capital has made an R87.5-million investment in power generation systems company Energenic to enable it to scale-up its business in Africa and South Africa. Energenic's solutions provide reliable and cost-effective energy solutions to key growth sectors on the... 

340 ha, mixed-use The Bridge urban development opened in Stellenbosch

By: Schalk Burger     12th November 2024 The 340 ha mixed-use urban development precinct The Bridge was opened in Stellenbosch, in the Western Cape, on November 7. The Bridge represents a commitment to community-focused growth, sustainability and innovation. R60-billion is projected to be injected into the economy and 13 000 permanent... 

Global CO2 emissions to hit record high in 2024, report says

By: Reuters     Updated 33 minutes ago Global carbon dioxide emissions, including those from burning fossil fuels, are set to hit a record high this year, pulling the world further off course from averting more destructive climate extremes, scientists said on Wednesday. The Global Carbon Budget report, published during the UN's COP29... 

COP29 is being held in Azerbaijan this month
COP29 is being held in Azerbaijan this month

Bidcorp increases trading profit by 10% in low food inflation environment

By: Schalk Burger     12th November 2024 JSE-listed foodservice group Bidcorp, in an update to capital markets on November 12, said it had increased its trading profit by 10% for the four months ended October 31, on the back of a low food inflationary environment. The international group's constant currency results to the end of October... 

UCT’s business school in global top ten

By: Rebecca Campbell     12th November 2024 The 2024 Better World MBA rankings, by Corporate Knights magazine, has positioned the MBA programme of the Graduate School of Business (GSB) of the University of Cape Town (UCT) in seventh place globally, and in first place in Africa. This follows the recent placing, in the QS Global MBA... 

Rhenus relocates to new facility in Johannesburg

By: Sabrina Jardim     12th November 2024 Global logistics service provider the Rhenus Group has strengthened its presence in Gauteng by relocating operations to a new facility in Meadowview, Johannesburg. This R440-million investment spans 28 000 m2, including 24 500 m2 of warehouse space and 3 000 m2 of office space, effectively... 

An image depciting the new facility
Rhenus SE & Co. KG

Teraco starts building 120 MW solar power plant to wheel power to its data centres

By: Schalk Burger     12th November 2024 Information and communications technology infrastructure company Teraco has started construction of its 120 MW utility-scale solar PV power plant in the Free State, which is expected to come online in late 2026. Teraco will own the 120 MW solar PV plant and wheel the renewable energy to its data... 

Teraco CEO Jan Hnizdo
Teraco CEO Jan Hnizdo

DFFE team monitoring possible HPAI virus on Marion Island

By: Schalk Burger     12th November 2024 The Department of Forestry, Fisheries and the Environment (DFFE) has said the Highly Pathogenic Avian Influenza (HPAI) virus is suspected to have reached Marion Island and is possibly responsible for causing mortalities in at least three breeding seabird species. The situation is being closely... 

Kenya Railways, Rolls-Royce, resurrect retired locomotives with new generation engines

By: Rebecca Campbell     12th November 2024 Kenya Railways and UK-based power and propulsion systems group Rolls-Royce have announced that three of the former’s heavy haulage locomotives have been re-engined with the latter’s mtu Series 4000 engines. The locomotives were 40 years old and had actually been retired from service, so the refit... 

One of the re-engined locomotives
Photo by Kenya Railways
One of the re-engined locomotives

Suez Canal Economic Zone set for rapid expansion – chairperson

By: Reuters     6th November 2024 Egypt's Suez Canal Economic Zone (SCEZ) has invested $3-billion on infrastructure over the past few years and has plans to invest a similar amount over the next few years as it works to attract investors, its chairman said in an interview. The zone, a collection of six ports and four industrial... 

Why gold equities are continuing to underperform the gold price 

By: Martin Creamer     12th November 2024 Why is it that gold equities are continuing to underperform the gold price? That is a question Mining Weekly put to Barrick president and CEO Dr Mark Bristow after he noted the lag of gold equities during the presentation of the third-quarter results of his New York- and Toronto-listed gold and... 

Kibali gold mine.
Kibali gold mine.

WSP’s digital-first approach played key role in building manganese rail infrastructure for South32

By: Darren Parker     12th November 2024 Multidisciplinary professional firm WSP has completed a comprehensive upgrade of diversified miner South32’s manganese rail infrastructure in the Northern Cape. The project was carried out by WPS’s Project Raptor team, which forms part of the company’s Transport and Infrastructure (T&I) division. 

Project Raptor team celebrating completed project

South Africa markets eurobonds after coalition lifts confidence 

By: Bloomberg     12th November 2024 South Africa is marketing eurobonds in its first potential international debt sale under a government of national unity following May elections. The dollar offering is set to include a benchmark-sized 12-year fixed note with a yield in the 7.4% area, as well as a 30-year bond in the 8.25% area,... 

South African currency

South Africa has impressively low battery manganese incentive price, Mintek@90 hears 

By: Martin Creamer     11th November 2024 South Africa’s current process of dissolving the world’s purest manganese metal to make battery grade manganese has got the lowest incentive price of any of the new, non-Chinese high-purity manganese sulphate monohydrate suppliers, or future suppliers, the Mintek@90 conference heard on Monday.... 

Mintek@90 Conference covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Raubex grows interim revenue and profit, declares dividend

By: Schalk Burger     11th November 2024 JSE-listed construction materials and mining company Raubex has increased its revenue by 29.7% to R10.95-billion for the half-year period to end August, up from R8.45-billion in the comparable period of the prior financial year. The group also increased its operating profit by 34.7% to... 

BankservAfrica seeks transition to payments utility through SARB collaboration

By: Schalk Burger     11th November 2024 Settlements and payments services platform BankservAfrica intends to transition into a national payments utility through a significant industry collaboration with the South African Reserve Bank (SARB) and its commercial bank shareholders. The strategic partnership seeks to bolster efforts to... 

Omnia reports commendable increase in first-half operating profit

By: Marleny Arnoldi     11th November 2024 JSE-listed chemicals group Omnia has reported a 17% increase in operating profit to R802-million for the six months ended September 30, which CEO Seelan Gobalsamy says was driven by solid performances in the group’s mining and agriculture segments. These segments also supported an improvement... 

Omnia CEO Seelan Gobalsamy
Photo by Creamer Media's Marleny Arnoldi
Omnia CEO Seelan Gobalsamy

Presidential Climate Commission delegation joins South African negotiators at COP29

By: Sabrina Jardim     11th November 2024 A senior delegation of the Presidential Climate Commission (PCC) has joined Forestry, Fisheries and the Environment Minister Dr Dion George, who is leading the South African delegation to COP29, being held from November 11 to 22  in Baku, in the Republic of Azerbaijan. The delegation is led by... 

Transaction adviser to validate strategy for Port of Durban’s liquid-bulk hub

By: Creamer Media Reporter      11th November 2024 South Africa’s Transnet National Ports Authority (TNPA) has appointed Zutari as the transaction adviser at the Island View precinct, the Port of Durban’s fuels and chemicals hub through which about 74% of South Africa's liquid bulk imports are managed. Zutari will validate TNPA’s ‘Island View... 

Port of Durban
Port of Durban

‘No crisis looming’ as independent technical assessment set to resolve billing dispute between Eskom, City Power 

By: Darren Parker     11th November 2024 Electricity and Energy Minister Dr Kgosientsho Ramakgopa has confirmed that an independent technical assessment of the R6.1-billion billing dispute between State-owned utility Eskom and the City of Johannesburg’s (CoJ’s) wholly-owned electricity utility City Power will be carried out over the... 

johannesburg at night
The lights will remain on in Johannesburg over Christmas

Vodacom not looking for other M&A deals after blocked Maziv merger

By: Reuters     11th November 2024 South Africa's biggest telecoms operator Vodacom said on Monday it will not look into other M&A deals after its proposed merger with fibre group Maziv was blocked by regulators last month. The decision by the country's Competition Tribunal was a blow to Vodacom's ambitions of expanding its fibre... 

International nuclear body to have a high profile at the COP29 climate summit

By: Rebecca Campbell     11th November 2024 The International Atomic Energy Agency (IAEA) will highlight the role of nuclear energy, as a key instrument to achieve net-zero carbon emissions, during the COP29 UN Climate Summit. The summit will be held from November 11 to November 22, in Baku, the capital of Azerbaijan. The IAEA delegation... 

Chery notches up record month as Chinese vehicle sales continue to gain traction

By: Irma Venter     11th November 2024 Chery South Africa (Chery SA) achieved a new monthly sales record in October, with 1 831 vehicles finding new owners. This is a 33.7% jump compared with October last year, reports the Chinese importer. 

Image of the Chery line-up in South Africa

Suzuki breaches 6 000 new-vehicle sales mark for the first time

By: Irma Venter     11th November 2024 Suzuki Auto South Africa (Suzuki SA) set a new sales record in October, when it breached the 6 000-unit-a-month mark for the first time. The local arm of the Japanese budget brand recorded sales of 6 006 new Suzuki vehicles, which places it third in total new-vehicle sales by manufacturer, with... 

Image of the 2024 Suzuki Swift
The new Suzuki Swift

'Clear vision' for logistics reform encouraging – Mavuso

By: Schalk Burger     11th November 2024 “The clarity of vision” provided by Transport Minister Barbara Creecy on what success in terms of logistics reforms looks like and what needs to be done to make progress in dealing with the logistics crisis has boosted business confidence, says business organisation Business Leadership South... 

A rail line

MSC Euribia arrives at Port of Durban, kicking off the port's cruise season

By: Schalk Burger     11th November 2024 Cruise company MSC Cruises vessel the MSC Euribia arrived at the Port of Durban's Nelson Mandela Cruise Terminal on November 8, starting the port's cruise season, port agency Transnet National Ports Authority (TNPA) says. The port is set to welcome 47 call-ins from various passenger liners this... 

The MSC Euribia
The MSC Euribia

H1 declines reported for Vodacom

By: Natasha Odendaal     11th November 2024 JSE-listed Vodacom Group on Monday posted a 2.7% decline in earnings before interest, taxes, depreciation and amortisation (Ebitda) to R26.56-billion; however, on a normalised basis, Ebitda increased 8.5% during the six months ended September 30. The group’s reported headline earnings a share... 

JET Funding Platform to close first application window on Dec 15

By: Darren Parker     8th November 2024 The Just Energy Transition (JET) Funding Platform, launched on October 25, will close its first window for applications on December 15, according to JET Funding Platform analyst Mohlokoa Ngoasheng. This new matchmaking platform, managed by the JET project management office within the Presidency,... 

Solar panels, wind turbines and a hydrogen storage tank

Sephaku grows revenue, net profit in half-year to end September

By: Schalk Burger     8th November 2024 JSE-listed building and construction materials company Sephaku Holdings (SepHold) has reported an increase in group consolidated revenue to R613.8-million for the six months to September 30, up from R626.6-million in the interim period to end September 2023. The company increased its net profit... 

Data indicates improving, stabilising electricity generation in South Africa – Minerals Council

By: Sabrina Jardim     8th November 2024 Latest data reflects steadily improving and stabilising electricity generation in South Africa, the Minerals Council South Africa notes. In its latest economic insights for September to October, the council notes that State-owned utility Eskom's energy availability factor (EAF) continues to... 

IPP Office to oversee pilot procurement of private independent transmission projects 

By: Terence Creamer     8th November 2024 Government has confirmed that the Independent Power Producer Office (IPPO), which has overseen the public procurement of more than 7 300 MW of operational renewable-energy capacity since 2011, will oversee a pilot programme to procure South Africa’s first independent transmission projects (ITPs).... 

Workers on powerlines

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First hot-rolled coil produced at Scaw’s new R5bn Germiston mill

Overnight water throttling part of new measures to combat Joburg’s water challenges

On-The-Air (08/11/2024)

Eskom opposes Nersa's granting of four new electricity trading licences

Magazine round up | 08 November 2024

Value-adding titanium dioxide pigment under development

No Day Zero for Gauteng, assures Majodina

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