Новости за 18.02.2021

Having gold in your portfolio is a very solid insurance right now, as it always has been during global crises. That is the view of Barrick Gold president and CE Dr Mark Bristow, whose company on Thursday reported 91% higher fourth-quarter operating cash flow to $5.4-billion and annual free cash flow to a new record high of $3.4-billion.

Coal demand from State-owned power utility Eskom is expected to normalise, following low demand over the past few months, diversified miner South32 COO Mike Fraser said during a media call to discuss its interim results, on February 18. He said the maintenance work being undertaken by should result in an increase in pull demand for coal, which should return to normal levels in the future.

On Thursday, South Africa finally released a proposed new list of critical skills that can make it easier for foreigners in certain jobs to work here. Those who meet the requirements on the list can get easier access to a visa to work and live in South Africa.

Information technology multinational IBM has committed to achieving net-zero greenhouse-gas (GHG) emissions by 2030, and aims to procure 75% of its electricity needs from renewable sources by 2025 and 90% by 2030. The company aims to reduce its GHG emissions by 65% by 2025 against the baseline year of 2010, and says that the most important element in the fight against climate change is to reduce emissions.

Europe-based global major aerospace group Airbus last year delivered nearly 300 fewer commercial aircraft than the year before, it reported in its 2020 full-year results report, released on Thursday. During 2020 the group delivered a total of 566 commercial airliners, as against 863 in 2019. Last year’s deliveries were composed of 38 A220-family, 446 A320-family, 19 A330-family, 59 A350-family and four A380 airliners. Of the total deliveries last year, almost 40%, or 225 airliners, were ...

The release of radio frequency spectrum for various telecommunications, industrial and commercial uses may take longer than hoped for, given the challenges to ensure equitable access and to enable digital transformation and growth in the economy, says law firm Webber Wentzel senior associate Karl Blom. A few key challenges are likely to contribute to further delays in the issuing of spectrum licences. For example, industry called for the classification of service providers to be clarified, as some... Читать дальше...

With the largest number of jobs created in 2021’s economic recovery expected to come from the private sector, President Cyril Ramaphosa has said that government will need to continue working with the private sector to create “a more conducive business environment” as an enabler of job creation. The President indicated during his State of the Nation Address (SoNA) last week that the social compact between the public and private sectors was underpinned by “a clear commitment to grow the economy and to create jobs”.

State-owned Transnet is investigating methods to deal with unpredictable and severe weather patterns, which have negatively affected the railway network during and after cyclone Eloise hit Southern Africa in late January, resulting in heavy rainfall across South Africa. Transnet Freight Rail (TFR), in particular, has experienced disruptions in the past weeks, as a result of severe damage caused by excessive rain following cyclone Eloise cyclone. The rain caused unusual disruptions on the heavy-haul lines... Читать дальше...

Fast-moving consumer goods company the Shoprite Group has expanded its solar photovoltaic (PV) programme, with 19 of its sites in South Africa and Namibia now boasting rooftop PV installations. There are now 18 Shoprite Group stores throughout South Africa and Namibia that use solar power, including Checkers stores in Plettenberg Bay Mall, Woodlands, Parys, Sitari, Gordons Bay, Constantia, Hermanus and Whale Coast Mall.

Platinum group metals (PGM) producer Sibanye-Stillwater is assessing the generation of green hydrogen on its mine sites to power PGM-catalysed hydrogen fuel cell mobility, it said on Thursday, when the Johannesburg- and New York-listed company foresaw good exposure for itself to the hydrogen economy and a minimum 20% renewable energy penetration at its operations. After presenting a super-duper set of financial results that saw half-year profit rocket sky-high to R29.3-billion for the six months to December 31... Читать дальше...

JSE-listed construction group Aveng has announced that has finalised all conditions to raise R300-million by way of a rights offer, with the opening scheduled for March 1 and closing on March 12. The company aims to restructure its balance sheet, deleveraging it by R1-billion, which will extend the group’s maturity profile to three years and simultaneously materially improve its liquidity pool.

OneLogix CEO Ian Lourens says that all of the niche logistics provider’s 12 companies “remain in good health”, despite the impact of the Covid-19 pandemic. The group reported a 16% drop in revenue, to R1.22-billion, for the six months ended November 30, compared with the same period in 2019. Lourens says the decline in earnings is primarily owing to the listless Covid-19 economic environment

Private company Inzuvect, trading as LNR Forest Estate, has partnered with forestry expert Merensky Timber to research ecosystem restoration on mining properties. LNR will, from the first week of March and over the next decade research and, in due course, implement solutions to ensure sustainable livelihoods and biodiversity in post-mining economies.

Human Settlements, Water and Sanitation Minister Lindiwe Sisulu has reiterated the commitment of the Department of Water and Sanitation (DWS) to provide water for all. While the sustainable provision of water to everyone is still a challenge facing South Africa and “huge” disparities remain, she said that the comprehensive National Water and Sanitation Master Plan, released in November 2019, was the beginning of ensuring equal and fair provision of water to every citizen of the country.

UK-based global major industrial technology group Rolls-Royce and Uganda Airlines have signed a TotalCare service agreement for the Trent 7000 engines that power the Ugandan flag carrier’s new Airbus A330neo widebody airliners. (The suffix -neo stands for new engine option.) Uganda Airlines has received the two A330neos it ordered, one each in December and January. “We are proud to include our new Rolls-Royce powered Airbus A330neos into our fleet and this agreement will ensure that our Trent 7000... Читать дальше...

Trade union Uasa has reacted strongly to two reported suicides by Denel workers earlier this week. The union described the news as “distressing and heart-wrenching”. It accused the State-owned defence industrial group of “simply looking on” while its unpaid or underpaid employees struggled to pay their bills. “Denel is in breach of its contract with its workers.” “Uasa has at several occasions emphatically underscored the plight not only of its members at the weapons manufacturer but of all employees... Читать дальше...

As climate change is one of the new global realities, Environment, Forestry and Fisheries Minister Barbara Creecy has averred that “post-pandemic recovery plans must focus on growth aligned with sustainable agendas”. South Africa is in need of a better understanding of the climate transition risk the country’s historical growth trajectory poses to the long-term sustainability of its economy and society.

According to Trade and Industrial Policy Strategies (TIPS), South Africa is in a position where it has a multitude of policies, processes and interventions that could be leveraged towards affecting a just transition to a green economy. During a development dialogue webinar hosted by the organisation on February 17, senior economist Gaylor Montmasson-Clair explained the broad dimensions necessary for a just transition.

The African Development Bank’s (AfDB’s) Sustainable Energy Fund for Africa (Sefa) is providing a $965 000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first “super energy service company (Esco)” initiative in Africa. Sefa is an AfDB-managed special fund, providing finance for renewable energy projects.

The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a memorandum of understanding (MoU) for the financing and promotion of the automotive industry in Africa. “The strategic partnership with AAAM will facilitate the implementation of the bank’s automotive programme, which aims to catalyse the development of the automotive industry in Africa as the continent commences trade under the African Continental Free Trade Area (AfCFTA),”... Читать дальше...

Even before the coronavirus pandemic broke out, arguably the most prominent business rescue in the country had already made headlines: that of South African Airways (SAA), which after more than a year is still not finalised. More recently, Ster-Kinekor became the latest high-profile company to announce it has gone into voluntary business rescue. South Africa has seen a large number of prominent - and less prominent - business rescues in recent months, particularly as the impact of the Covid-19 hits home. Читать дальше...

Steel company ArcelorMittal South Africa (AMSA) has confirmed that the bodies of three missing employees have been recovered, with all three having succumbed to injuries sustained in an incident at the company’s Vanderbijlpark Works on the morning of February 17. The incident entailed a portion of a 90 m stack at one of the operation’s coke batteries failing and falling onto the coke battery control room in which the three employees were working.

On February 12, Trade, Industry and Competition Minister Ebrahim Patel published a Gazette notice granting the Department of Mineral Resources and Energy (DMRE) permission to deviate from the relevant Broad-Based Black Economic Empowerment code of good practice for the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP). Through the RMIPPPP, government is aiming to procure 2 000 MW of ‘emergency’ power for operation by June 2022. The evaluation of the 28 bids received ahead of the submission deadline... Читать дальше...

The free cash flow of precious metals company Sibanye-Stillwater rocketed 63-fold to within a hair’s breadth of R20-billion in the six months to the end of December. The Johannesburg- and New York-listed company, headed by CEO Neal Froneman, reported a sky-high profit rise to R29.3-billion for the six months, up from R62-million for the corresponding period of 2019.

Eskom is considering handing over its R840 million white elephant of a block of flats near Witbank to local community members -  after cost overruns described by its CEO André de Ruyter as "deplorable".  The Wilge Residential Development Project was meant to house contractors and artisans working at Kusile power station in 336 flats.