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South Africa committed to African air transport liberalisation – Minister South Africa committed to African air transport liberalisation – Minister
Published: 12 Oct 18
South African Transport Minister Dr Blade Nzimande reaffirmed on Friday the country’s commitment to the implementation of the Yamoussoukro Decision (YD) on liberalising air transport across Africa. He did so in a speech to the 48th annual general meeting of the Airlines Association of Southern Africa, in Livingstone, Zambia, which was delivered on his behalf by South African Civil Aviation Authority (SACAA) CEO Poppy Khoza. “South Africa has already started to implement the key principles of the Yamoussoukro Decision with ready and willing States pending the continental implementation of the multilateral framework,” she read. The country had already deregulated air services with 36 other African States. It was also one of the 23 African countries that had taken part in the launch of the Single African Air Traffic Market by the African Union in January.
Steel Awards showcase resilience, workmanship in South African steel industry Steel Awards showcase resilience, workmanship in South African steel industry
Published: 12 Oct 18
South African Institute of Steel Construction (SAISC) CEO Paolo Trinchero believes the industry continues to produce “outstanding work, [which] demonstrates its capability and expertise”. Speaking at its yearly Steel Awards function on Thursday evening, he said there was continued perseverance in the industry, despite the many challenges facing the industry, including a muted domestic economy, policy uncertainty, the impacts of a potential global trade war and questionable capacity and spend by large State-owned enterprises.
Desert Lion announces maiden mineral resource estimate for Namibian project
Published: 12 Oct 18
TSX-V-listed Desert Lion Energy has completed a maiden mineral resource estimate for its Namibian lithium project, the company announced on Friday. The maiden mineral resource estimate comprised the Rubicon, Rubicon Slimes, Helikon 1, Helikon 2, Helikon 3, Helikon 4 and Helikon 5 deposits, and was based on assay and geological/mineralogical data generated from three phases of channel, pitting, diamond and reverse circulation drilling completed by the company since 2017.
Thabazimbi mine transfer to AMSA finalised
Published: 12 Oct 18
The transfer of ownership of the Thabazimbi iron-ore mine, from Kumba Iron Ore to steel producer ArcelorMittal South Africa (AMSA) has been finalised, Kumba said on Friday. Kumba in early 2017 agreed to transfer the mine, in Limpopo, to AMSA, for R1, plus the assumed liabilities.
KZN MEC unveils 25 planned projects to attract R200bn investment KZN MEC unveils 25 planned projects to attract R200bn investment
Published: 12 Oct 18
KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala on Friday unveiled his portfolio of investment opportunities, which will result in R200-billion being pumped into the province’s economy over the next few years. Addressing captains of industry during an investment seminar, Zikalala said KwaZulu-Natal had packaged a list of 25 projects worth more than R200-billion as part of the province’s contribution to the national $100-billion investment drive launched by President Cyril Ramaphosa.
Sub-Saharan Africa’s economy growing, but better revenue mobilisation needed – IMF
Published: 12 Oct 18
The macroenonomic outlook for sub-Saharan Africa continues to strengthen, with growth expected to increase from 2.7% in 2017 to 3.1% this year, the latest ‘Regional Economic Outlook’ report published by the International Monetary Fund (IMF) shows. The higher growth reflects domestic policy adjustments and a supportive external environment, including continued steady growth in the global economy, higher commodity prices and accommodative external financing conditions, the report states.
Seifsa president points to ‘signs of green shoots' for metals sector Seifsa president points to ‘signs of green shoots' for metals sector
Published: 12 Oct 18
In an address at the Steel and Engineering Industries Federation of Southern Africa’s (Seifsa’s) Presidential Breakfast on Friday, outgoing interim president Alph Ngapo expressed optimism that the political transition, which saw President Jacob Zuma replaced by President Cyril Ramaphosa earlier this year, would improve prospects for the country and the economy, particularly after the 2019 elections. However, Ngapo also stressed the importance of greater collaboration between business, ...
Equinox Gold raises $75m for Mesquite acquisition
Published: 12 Oct 18
Canadian firm Equinox Gold has raised $75-million through private placements to fund part of its acquisition of the Mesquite gold mine, in California. The company is buying the 135 000 oz/y mine from New Gold for $158-million.
Southern African airlines face losses and slow growth, says industry association Southern African airlines face losses and slow growth, says industry association
Published: 12 Oct 18
The Airlines Association of Southern Africa (AASA) has forecast that airlines in the Southern African Development Community (SADC) region will suffer total losses of $300-million for this year. This would be in sharp contrast to the expected total profit of $33.8-billion for the global airline sector. However, the performance of the various individual airlines in the region would not be uniform. Regional demand for air transport was predicted to be only 2% to 3% a year over the next five years, because of weak gross domestic product growth in most SADC member countries. These forecasts were reported by the AASA on Friday, from Livingstone in Zambia, where it has been holding its 48th Annual General Meeting. The causes for the expected poor performance of the sector in SADC was attributed to rising costs, market turbulence and political uncertainty at the local, regional and world levels, which were adversely affecting trade, tourism and economic development. “Tourism, along with trade, is a powerful lever of growth. But they are being stunted by uncertainties,” highlighted AASA CEO Chris Zweigenthal. “As one of the most capital-intensive sectors and a vital enabler of economic activity, the airline industry needs Southern African governments to clarify their local economic reform policies so they do not spoil the appetite for much needed trade and investment in the region.”
Reconstruction of Clanwilliam Dam in WCape to create thousands of jobs
Published: 12 Oct 18
The construction of the Clanwilliam Dam in the Cederberg district in the Western Cape is envisaged to create more than 4,000 job opportunities, according to the department of water and sanitation. In a statement on Friday,  the department said: “A new-look Clanwilliam Dam is envisaged to create 4,480 jobs initially. The engineers have extrapolated that the Clanwilliam Dam project would bring about 3 800 permanent jobs when completed and another further 680 temporary jobs during construction.”
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