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Weekend’s geomagnetic storm was the strongest to hit South Africa in over 20 years
Published: 13 May 24
The solar storm which hit Earth on Friday and Saturday was the most severe to affect South and Southern Africa in 21 years, the South African National Space Agency (SANSA) has reported. The SANSA Space Weather Centre, located at the SANSA Space Science facility in Hermanus, in the Western Cape, issued a G5 geomagnetic storm warning, as well as several G4 warnings, over the period of the event. G5 is the highest rating on the international scale, and signals an extreme storm. It was the first ...
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Calgro M3 issues maiden dividend, posts robust results
Published: 13 May 24
Residential-focused property developer Calgro M3 has issued a maiden dividend of 9.49c a share after posting a record gross profit margin of 27.25% for the financial year ended February 29, and profit after tax increased to R196.8-million, up from R186.29-million in the preceding financial year. The company also published a dividend policy that will see it pay yearly dividends to a minimum of 5% of headline earnings a share. The total dividend payable is R10.86-million for the financial year under review.
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Poultry association calls for vaccination to prevent H7N6 avian influenza outbreak
Published: 13 May 24
The South African poultry industry is calling for immediate intervention to avert an outbreak of the H7N6 strain of highly pathogenic avian influenza (HPAI) that it is grappling with, following a year of significant losses, including the culling of 9.5-million birds. While traditionally reliant on a stamping out policy, the industry acknowledges the inefficiency of this approach against the H7N6 strain, industry organisation the South African Poultry Association (SAPA) said.
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Seifsa, Numsa conclude three-year metals, engineering sector wage agreement
Published: 13 May 24
After three formal engagements, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and trade union the National Union of Metalworkers of South Africa (Numsa) have concluded the terms of a three-year wage agreement for the metals and engineering sector. The agreement is for the period from July 1 to June 30, 2027.
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Death toll in George building collapse rises to 27
Published: 13 May 24
The George municipality has reported that, as at 15:00 on May 13, 25 people still remain unaccounted for following last week's building collapse. The death toll has risen to 27, while 13 people remain in hospital.
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Contractors, sub-contractors battling as late payments accelerate – MBA North
Published: 13 May 24
The construction industry value-chain is at risk of collapsing as shrinking margins, unfair practices and payment issues continue to undermine the sector. This is according to members of the Master Builders Association (MBA) North, who warn that “urgent dialogue and change” are needed to address industry issues and avoid further job losses and bankruptcies.
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Raubex sees 28% bounce in its order book despite challenging environment
Published: 13 May 24
Raubex saw a 28% jump in its order book for the financial year ended February 29, to R25.55-billion, compared with R20-billion in the previous financial year. “This is testimony to our diversified business model,” said CEO Felicia Msiza on Monday as the group released its financial results.
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Anglo rejects BHP's revised £34bn proposal
Published: 13 May 24
Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion.
The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an all-share offer for Anglo, with a requirement to complete two separate demergers of the South African units, Anglo American Platinum (Amplats) and Kumba Iron Ore.
The all-share offer and required demergers will be inter-conditional.
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China takes advantage of cheap gas and coal to rebuild stocks
Published: 13 May 24
China is taking advantage of lower international prices for coal and natural gas to replenish stockpiles of power fuels ahead of another long, hot summer.
Gas imports through the end of April jumped 21% from the previous year, while coal purchases climbed 13%. The increase in coal in particular has defied predictions that imports would moderate from last year’s record-setting pace, and comes after domestic production posted its first quarterly drop since the third quarter of 2020.
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Lexington renews Jelani prospecting right to 2026
Published: 13 May 24
Aim-listed Lexington Gold has announced that the prospecting right owned by Jelani Resources has now been formally renewed until May 29, 2026. This follows on the back of announcements made on May 15 and September 7 last year regarding Lexington’s acquisition of White Rivers Exploration (WRE).
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Akkuyu nuclear power plant project, Türkiye – update
Published: 10 May 24
AMSA renewable-energy project, South Africa – update
Published: 10 May 24
Spherical Tokamak for Energy Production, UK – update
Published: 10 May 24
Business Leadership South Africa (BLSA) has again expressed concern about the National Health Insurance (NHI) Bill on the eve of President Cyril...
Salga energy head calls for post-election review of free basic electricity scheme
Published: 14 May 24
The head of energy at the South African Local Government Association (Salga) has called for a review of both the size of the free basic electricity...
LDV to launch bakkie, SUV, MPV and panel van ranges in SA
Published: 14 May 24
Chinese car maker LDV has confirmed that its full range of passenger and commercial vehicles have been given the go-ahead for introduction in the...
