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Zambia to set up mineral investment and trading unit
Published: 12 Jun 24
Zambia will set up a new entity for investment and trading in minerals as it seeks to earn more from its natural resources, the Cabinet said on Wednesday after giving its approval. The government of Zambia, Africa's second largest copper producer which currently owns several mining assets through ZCCM Investment Holdings, will establish a special purpose vehicle (SPV) for investment and trading purposes, it said.
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Diversification of energy generation, consumption important for businesses, Discovery Green says
Published: 12 Jun 24
Businesses are increasingly prioritising the procurement of renewable energy, and especially solar energy, owing to loadshedding, electricity cost increases and risks associated with high carbon footprints, but run the risk of increasing their total energy costs, including from variability challenges. Analysis by renewable energy for business platform Discovery Green shows that the solution to these challenges lies in diversification, both in terms of energy generation and consumption, in line with traditional insurance principles of risk pooling and diversification.
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Tribunal confirms settlement agreement in plant and equipment hire cartel case
Published: 12 Jun 24
The Competition Tribunal has confirmed, as an order, a R480 000 administrative penalty imposed on plant and equipment hire company Hard Hat Equipment Hire as part of a settlement in a case in which it was accused of alleged price fixing and/or fixing trading conditions in contravention of the Competition Act. The company further agreed, among others, to refrain from contravening the Act and engaging in any prohibited practice in the future and would prepare a statement summarising the contents of the settlement agreement and circulate it to its employees, managers and directors.
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TNPA gets four new tugboats for Durban, East London ports
Published: 12 Jun 24
State-owned Transnet National Ports Authority (TNPA) has taken delivery of the first four tugboats to boost marine fleet availability and shipping efficiencies at the ports of Durban and East London. The arrival of the tugboats brings TNPA a step closer towards the execution of its marine fleet renewal programme, which entails replacing marine fleet with the latest technology to extend the lifespan of marine assets.
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Manufacturing confidence at its highest in two years amid loadshedding relief
Published: 12 Jun 24
Confidence among local manufacturers has reached the best level in two years during the second quarter of the year, according to financial services firm Absa's Manufacturing Survey for the second quarter. The survey showed that business confidence rose seven points to 28 during the quarter, with zero reflecting an extreme lack of confidence and 100 extreme confidence.
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NRW acquires HSE mining contract and assets for A$85m
Published: 12 Jun 24
Perth-based civil and mining contractor NRW Holdings subsidiary Golding Contractors will acquire the mining services contract, associated fleet and transfer of employees from HSE Mining at coal miner Stanmore Resources’ South Walker Creek mine site.
The transaction is at A$85-million less assumed employee liabilities of about A$15.3-million.
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Space robotics sector is set for dramatic boom, predicts international consultancy
Published: 12 Jun 24
International data and analytics company GlobalData has forecast that the space robotics sector is set for “explosive growth”. This prediction was developed using the company’s innovation intelligence platform, called Technology Foresights. The term space robotics covers the design and manufacture of robots intended to operate in the extremely hostile environment of outer space. “Innovation in space technologies has been dominated by large, publicly funded space agencies for a long time. Nasa ...
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NRF announces international funding initiative for African climate change researchers
Published: 12 Jun 24
Funding for African researchers who are focused on climate change, has been made available through a collaboration between South Africa’s National Research Foundation (NRF) and an international grouping, the Belmont Forum. The NRF is South Africa’s research funding, support, enabling and promotion agency, while the Belmont Forum is a partnership of research funding agencies from 26 countries (including all the major economies) and two international organisations (the Inter-American Institute for Global Change Research and the European Union). South Africa, via the NRF, is one of the members of the Belmont Forum. The other African members are Côte d’Ivoire and Kenya. The forum is focused on research regarding global environmental change, and the funding for African climate change researchers will be disbursed through its Collaborative Research Action initiative.
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Eskom replaces over 400 transformers damaged by overloading
Published: 12 Jun 24
State-owned utility Eskom says that, to date, it has replaced 400 transformers damaged by network overloading since January. The entity points out that, as demand for electricity rises while temperatures fall with the onset of winter, the issue of network overloading has resurfaced in some areas owing to electricity theft.
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Reserve Bank concern about decline of public markets welcome development – Miller
 Published: 12 Jun 24
The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done has not been enough to change the downward trajectory.
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JSE Johannesburg Stock Exchange Paul Miller AmaranthCX National Treasury Financial Services Conduct Authority FSCA Reserve Bank of South Africa
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Published: 14 Jun 24
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Poor roads, bad weather and weak used-car market dent Zeda’s profit
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Poor road conditions, hailstorms, a shortage of car parts and a deteriorating used-car market converged to dent Zeda’s operating profit for the six...
