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Copper's record run at risk as US shipments calm speculator frenzy

Published: 20 May 24

Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the US Comex futures market rather than tepid demand in top consumer China. Prices on the CME Group's Comex hit a record last week, while benchmark copper on the London Metal Exchange (LME) rocketed on Monday to an all-time peak of $11 104.50 a metric ton, having surged 28% so far this year.

IAEA expert team in Uganda to support country’s uranium production plans

Published: 20 May 24

A specialist expert mission of the International Atomic Energy Agency (IAEA) is currently in Uganda to undertake a review connected with the East African country’s nuclear energy ambitions, specialist news agency World Nuclear News reports. Uganda plans to construct 24 000 MWe of nuclear energy capacity, and has selected Russian and South Korean companies to each build a nuclear power plant (NPP) in the country. These two NPPs will have a combined capacity of 15 000 MW. The IAEA team visiting the country is an Integrated Uranium Production Cycle Review (IUPCR) mission. This type of mission serves to help IAEA member countries develop infrastructure for their own uranium production programmes, across all the stages of the uranium production cycle.

GVK-Siya Zama-constructed student accommodation block in Cape Town

GVK completes 20-storey student housing block in Cape Town

Published: 20 May 24

Privately owned construction company GVK-Siya Zama has completed construction of a 20-storey, 3 000-bed student accommodation block in Cape Town. The 77 000 m2 development also includes 6 700 m2 of retail space and a public square.

Vumacam surveillance tech yields 10% boost in crime interceptions, arrests in Gauteng

Published: 20 May 24

The Gauteng provincial government (GPG) has reported a “substantial impact” on criminal activities across the province has been achieved 100 days into the rollout of its surveillance project, which has been leveraging Vumacam SafeCity cameras. Since its inception in February, the project has yielded an average 10% monthly increase in interceptions, impounded vehicles and arrests from February to May.

Famous Brands reports bump in revenue, while profits decline for 2024 financial year

Published: 20 May 24

Branded food services franchisor Famous Brands has reported an 8% increase in revenue to R8-billion for the financial year ended February 29, although a 6% decrease in profit to R812-million and a 1.5% profit margin contraction from 11.6% to 10.1% dampened results. Despite the group’s carefully managed cost base, the operating profit margins were negatively impacted on by input cost pressures and increases in overheads, namely electricity, water, diesel, repairs, maintenance and employee costs.

Eskom board approves plan to operate Camden, Grootvlei and Hendrina to 2030

Published: 20 May 24

The Eskom board has given its approval for the continued operation of the Camden, Grootvlei and Hendrina power stations to 2030 – a departure from the original decommissioning schedule that has reportedly been endorsed by Cabinet. In response to a question posed by Engineering News during an update on the Energy Action Plan, head of generation Bheki Nxumalo said: “We have just recently received board approval to run three of our stations – that is Hendrina, Grootvlei and Camden – up until 2030.”

Australia gas producers endorse govt strategy, warn of shortages this decade

Published: 20 May 24

Australia's energy producers endorsed a government strategy to boost natural gas development, but warned the country still faces new gas supply shortfalls this decade while markets remain volatile due to global conflicts. Meg O'Neill, chair of the Australian Energy Producers, said the group welcomed the Future Gas Strategy released by the government earlier this month, which highlighted that new gas sources will be needed to meet both domestic and export demand during the energy transition.

Zero Carbon Charge signs MoU with Free State govt on EV charger rollout

Published: 20 May 24

Zero Carbon Charge (Zero CC) has signed a memorandum of understanding (MoU) with the Free State provincial government on the introduction of what it describes as a “network of solar-powered, offgrid, ultrafast electric vehicle (EV) charging stations across the province”. The rollout promises the construction of 15 electric passenger vehicle charging stations and seven electric truck charging stations by Zero CC and Zero Carbon Logistics (Zero CL), respectively.

Silhouette of construction site and workers

BCIMA urges construction industry to increase safety measures in wake of George tragedy

Published: 20 May 24

The Building and Construction Industry Medical Aid Fund (BCIMA) has called for a review of the safety practices on construction sites and the prioritisation of the health of construction workers following the collapse of a five-storey residential building in George, in the Western Cape earlier this month. The organisation says the 34 lives lost in the tragedy are a reminder of the risks and sacrifices construction workers face daily.

Wine grape supply balances with demand in 2024 harvest season

Published: 20 May 24

The 2024 wine grape harvest has yielded 1.09-million tonnes from 87 848 ha, which is 7% lower than the prior harvest season, industry body Vinpro reports. Vinpro consultation services manager Dr Etienne Terblanche says the 2024 harvest season was a journey marked by careful planning and the adaptability of wine producers in the face of diverse climatic adversities and various disruptions.