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Telkom set to support 2024 elections
Published: 06 May 24
Telecommunications group Telkom is preparing to support South Africa’s upcoming national elections as the information and communications technology partner to the Independent Electoral Commission (IEC). South Africa’s 2024 elections are set to be held on May 29.
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DTPC launches Dube TradeZone 2, attracts R1.8bn in private investment
Published: 06 May 24
KwaZulu-Natal provincial entity Dube TradePort Corporation (DTPC) has launched its Dube TradeZone 2 – the second phase of the industrial precinct and special economic zone (SEZ) adjacent to the King Shaka International Airport. Dube TradeZone 2 has, to date, attracted R1.8-billion in private-sector investment and this phase is expected to create 600 jobs within the next five years.
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Ramokgopa insists loadshedding not being ‘stage managed’ ahead of May 29 poll
Published: 06 May 24
Electricity Minister Kgosientsho Ramokgopa denies that the prevailing reprieve from loadshedding has been “stage managed” to improve the prospects of the governing African National Congress ahead of the May 29 poll, attributing it instead to “orchestrated” engineering efforts undertaken by Eskom over the past 18 months. Speaking during a briefing that coincided with the fortieth consecutive day of no loadshedding and amid growing societal cynicism about the timing of such supply stability, the Minister also strenuously denied that the improved performance was because Eskom was relying more heavily on the diesel-fuelled open cycle gas turbines that it owned as well as those operated by independent power producers (IPPs).
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Ramaphosa pegs sustainable economic recovery on attraction of higher levels of investment
Published: 06 May 24
President Cyril Ramaphosa on Monday assured that government is working to get rid of red tape that impedes and slows down investment. Ramaphosa wrote in his weekly letter to the nation that it was only through attracting higher levels of foreign and domestic investment that a swift, sustainable economic recovery could be assured. He said government had significantly reduced waiting times for water use licences and other important authorisations for getting major investment projects off the ground. Ramaphosa said since this administration took office, government had held five Investment Conferences that had attracted R1.5-trillion in investment commitments across a broad range of economic sectors. “Over one-third of these pledges have translated into job-creating businesses and business expansions in renewable energy, mining, packaging, automotive, retail, manufacturing, transportation and other sectors,” he said. He highlighted that while there was a broadly positive attitude towards South Africa among investors, the country’s net foreign direct investment as a percentage of gross domestic production was slightly lower than the global average.
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Big Oil finds more to love in deepwater exploration fields
Published: 06 May 24
As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the US Gulf Coast will take the spotlight.
Offshore exploration had dimmed after the US shale boom ushered in new and cheaper-to-tap supplies of oil, and as past offshore cost overruns pushed deepwater projects onto the industry's backburner.
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Gold edges higher as investors mull mixed US economic signals
Published: 06 May 24
Gold edged higher after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation.
The precious metal fell as much as 0.4% on Monday before reversing, following its back-to-back weekly loss on Friday. Investors have been mulling a softer-than expected US jobs print that added to evidence that the economy is gradually slowing, easing fears that markets are headed for a painful rut marked by high inflation and sluggish growth.
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Redefine choosing to remain optimistic despite challenging market conditions
Published: 06 May 24
JSE-listed Redefine Properties reported solid results for the six months to February 29, despite prevailing challenging economic conditions in South Africa, including the impact of high interest rates, loadshedding and consumer strain, CEO Andrew König said in a briefing on May 6. He said the group was choosing to be "mindfully optimistic" about the future, cognisant of the challenges, but also of the opportunities it could capitalise on.
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Renergen successfully producing liquid helium at Virginia project
Published: 06 May 24
ASX- and JSE-listed gas producer Renergen is now able to liquify helium in batches from its wells at the Virginia gas project, in South Africa’s Free State province. Since April 2, the original-equipment manufacturer (OEM) that supplied the equipment had brought the helium cold box to the appropriate temperature to liquify helium. A part of this process involved the purification of the helium to a level of 99.999% purity, which Renergen said had been validated by an independent third-party laboratory.
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Orion Minerals in final stages of Okiep acquisition
Published: 06 May 24
ASX- and JSE-listed Orion Minerals has reached the final stages of its acquisition of a controlling interest in the Okiep copper project, located about 570 km north of Cape Town in the Northern Cape. Strategic funding partner the Industrial Development Corporation of South Africa (IDC) has now obtained internal approvals and counter-signed the addenda to the agreements which will see Orion acquire the controlling interest in Okiep.
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ACSA infrastructure investment plan, South Africa
Published: 03 May 24
Red Sands battery energy storage solutions project, South Africa
Published: 03 May 24
Bankenveld District City development, South Africa
Published: 03 May 24
Last month copper mining company Copper 360 surprised on the upside by producing its first copper concentrate from surface material well ahead of...
Saudi Manara Minerals' team in Pakistan for talks on Reko Diq mine stake, document shows
Published: 06 May 24
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in Pakistan's Reko Diq gold...
Denel displays guided weapons, landward defence systems at Defence Service Asia
Published: 06 May 24
State-owned defence technology company Denel is displaying its guided weapons and landward defence systems at the Defence Service Asia (DSA)...
