NEWS
Bleeding Amsa set to raise the price of steel
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26 August 2017 at 09:50 am
Business Report

JOHANNESBURG - ARCELORMITTAL South Africa (Amsa), Africa's biggest steel producer, will hike steel prices next month in response to steep higher international prices, it said yesterday.
South32 announce $1.2bn profit
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26 August 2017 at 09:47 am
Business Report

JOHANNESBURG - Australian-based South32 yesterday (Thursday) firmed its balance sheet on the back of strengthening commodity prices in the full year to June 2017
SCOPA: SAA lacks public responsibility and accountability
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26 August 2017 at 09:45 am
Business Report

PARLIAMENT - A meeting between The Standing Committee on Public Accounts (SCOPA) and South African Airways (SAA) on Wednesday, has seen the committee frowning over the airline company's lack of leadership.
Final 40% of Diro Resources acquired
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26 August 2017 at 09:40 am
Business Report

Afrimat, the listed open-pit mining group and industrial minerals and construction materials supplier, has acquired the remaining 40% stake in Diro Resources that it does not already own
Murray & Roberts acquire further interest in the Bombela Concession Company
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26 August 2017 at 09:37 am
Business Report

Listed construction and engineering group Murray & Roberts (M&R) has acquired a further interest in the Bombela Concession Company (BCC), the special purpose vehicle established for the design, partial financing, delivery, operation and maintenance of the Gautrain Rapid Rail Link, for R405million.
Guptas sell mining unit Tegeta for R2.97bn
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26 August 2017 at 09:35 am
Business Report

Cape Town - The Gupta-owned Oakbay Investments said on Wednesday it is selling its mining unit Tegeta to Swiss-based Charles King SA.
SA appointment to lead Chevrolet Business in Southeast Asia
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26 August 2017 at 09:31 am
Business Report

ASIA - General Motors announced the reorganisation of its Chevrolet business in Southeast Asia. Its units in Thailand, Indonesia and Vietnam will be placed under a new leadership team led by incoming GM Southeast Asia President Ian Nicholls, effective 01 September 2017
Maersk sells oil and gas assets to Total
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26 August 2017 at 09:28 am
Business Report

INTERNATIONAL - Total agreed to buy the oil and gas unit of AP Moller-Maersk, the French company's biggest acquisition since 1999 and another sign of the accelerating pace of energy deals after a long downturn.
Pretoria energy company receives grant from USA
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26 August 2017 at 09:25 am
Business Report

WASHINGTON D.C.- The U.S. Trade and Development Agency issued a grant to Swayana (Pty) Ltd, a Pretoria-based energy project developer, for a feasibility study that will use innovative U.S. technologies to convert waste gas also known as off-gas into a valuable commodity at a plant in South Africa's Mpumalanga province.
Sasol shares trade positively despite 15% fall
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26 August 2017 at 09:22 am
Business Report

Sasol joint president and chief executive Bongani Nqwababa presents the company's financial results for the period to the end of June at Sasol's head office in
CAPE TOWN - Sasol shares traded in positive territory despite the group announcing a 15% fall in headline earning for the year end to June.
Youth owned rural co-operatives ensured sustainability and growth
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26 August 2017 at 09:19 am
Business Report

PIETERMARITZBURG - An SMME Development programme sponsored by Transnet port terminals (TPT) in partnership with Economic Development Tourism & Environmental Affairs identified 9 youth owned rural co-operatives in KwaZulu-Natal were ensured sustainability and growth
19 Women-owned businesses graduate from R250 000 development programme
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26 August 2017 at 09:17 am
Business Report

EASTERN CAPE - 19 Nelson Mandela Bay women-owned businesses graduate from R250 000 enterprise development programme.
6 heavyweight companies to be prosecuted for Employment Equity Non-compliance
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26 August 2017 at 09:14 am
Business Report

CAPE TOWN - The Department of Labour's Inspection and Enforcement Services (IES) branch has announced it is taking six companies to court for prosecution for failure to prepare employment equity plans as per the provisions of s20 (1) of the (EEA) and reporting to the Director-General on plans that do not exist which amounts to misrepresentation.
Xina Solar One, the third solar thermal plant in SA is almost complete
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26 August 2017 ta 09:06 am
Business Report

KIMBERLY - Abengoa, the international company that applies innovative technology solutions for sustainability in the energy and environmental sectors, has achieved practical completion for Xina Solar One, its third solar thermal plant in SA.
A showpiece of African tech entrepreneurship in Europe
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26 June 2017 at 03:38 am
Business Report

AFROBYTES Tech Conference is undoubtedly Europe's pre-eminent Africa-focussed gathering of entrepreneurs, business executives, investors, academics, politicians and media interested in acting on the commercial opportunities presented by Africa's tech and innovation industry.
Brown appoints four new Eskom board members
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26 June 2017 at 03:36 am
Business Report

Johannesburg - Public Enterprises Minister Lynne Brown on Friday announced the appointment of four new interim non-executive directors of Eskom in a bid to beef up the board of the embattled power utility.
The investment case for renewable energy for residential, commercial and industrial use
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26 June 2017 at 03:29 am
By: Justin Schmidt, Head of Renewable Energy Africa Absa Retail and Business Banking

There has been a strong investment case for renewable energy worldwide for a number of years now, and this case has significantly gained momentum in the last two years.
Building industry confidence drops
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26 June 2017 at 03:25 am
Business Report

Confidence in the building industry slumped sharply in the second quarter of this year, with almost 70percent of respondents to the FNB-Bureau for Economic Research (BER) building confidence index survey indicating they were dissatisfied with prevailing business conditions.
Khalid Abdulla: AEEI CEO awarded the Driver For Change Award
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26 June 2017 at 03:23 am
Business Report

African Equity Empowerment Investments Limited (AEEI) Group's chief executive officer, Khalid Abdulla, was honoured as a winner of South Africa's Future Makers: "Driver for Change Award" at the inaugural Vision 2030 Awards last night
Mining sector faces unrest and other woes
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26 June 2017 at 03:20 am
Business Report

THE proliferation of illegal mining incidents, community unrest are some of the problems that have increased risk in mining in South Africa the Chamber of Mines chief negotiator, Elize Strydom said on Friday.
Eskom appoints Johnny Dladla as Acting Group CEO
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26 June 2017 at 02:55 am
Business Report

The Eskom Board has just announced the appointment of Mr Johnny Dladla as Acting Group Chief Executive with immediate effect. According to Eskom this follows intense consultations between the Minister and Eskom Board to arrive at a prudent choice.
South32 awards R158mln coal contract to 100% black-owned company
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26 June 2017 at 02:52 am
Business Report

Johannesburg - Diversified metals and mining company, South32 on Thursday awarded a three-year core mining contract worth R158 million to a Broad Based Black Economic Empowerment company, Modi Mining, at its Wolvekrans Middleburg coal mine in Mpumalanga.
Cell C wants to cut debt by selling stake
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26 June 2017 at 02:48 am
Business Report

Cell C wants to cut its debt by 73 percent as part of a deal that will help the company sell a stake to Blue Label Telecoms while retaining its operating licence, according to two people familiar with the matter.
Saftu fully behind Numsa's wage battle in engineering sector
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26 June 2017 at 02:46 am
Business Report

Johannesburg - The South African Federation of Trade Unions (Saftu) has said that it is 100 percent in solidarity with its affiliate,the National Union of Metalworkers of South Africa (Numsa), in their struggle to negotiate a new wage agreement in the engineering sector
It's time for Guptas&Co to answer
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26 June 2017 at 02:42 am
Business Report

The Gupta brothers, Ajay and Atul, and President Jacob Zuma's son, Duduzane, were among the first key witnesses identified by MPs to be questioned in the inquiry by Parliament into alleged state capture at Eskom.
Engineering jobs in consulting sector in decline
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26 June 2017 at 02:39 am
Business Report

Employment in the consulting engineering industry declined by 4percent year-on-year in the second half of last year to an estimated 23349 jobs.
#MiningCharterImpact: Moody's issues a credit downgrade notice to SA miners
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26 June 2017 at 02:34 am
Business Report

Rating agency Moody's has put South African mining houses on a credit downgrade notice following last week's gazetting of the New Mining Charter by the Department of Mineral Resources (DMR).
Standard Bank donates R10 million to devastated Western Cape
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26 June 2017 at 02:26 am
Magna Carta

It is with grave concern that Standard Bank has noted the devastation left in the wake of the raging fires and storms that have swept through the Garden Route and greater Cape region this week
Auditor-General Report: Municipalities lack accountability
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26 June 2017 at 02:20 am
Business Report

Cape Town - The auditor-general (AG), Kimi Makwetu, today reported minimal improvements in the audit results of South Africa's municipalities for the past financial year.
Time for country's business to see BEE as an opportunity
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26 June 2017 at 02:16 am
Business Report

As we approach the Manufacturing Indaba in the last week of June, the economic landscape is littered with uncertainty and concern.
Group Five still in search of interested equity partners
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30 May 2017 at 02:07 am
Business Report

Johannesburg - Group Five said on Monday that it was receiving a number of inquiries and correspondences regarding equity-based transactions following its voluntary rebuild programme (VRP).
New Africa infrastructure fund launched by Sanlam and InfraSec
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30 May 2017 at 02:04 am
Business Report

With its untapped growth potential and positive demographics, Africa has long been considered an appealing investment destination. In particular, the demand for sustainable infrastructure development has received increasing attention in recent times, due to the considerable infrastructure funding gap in the region.
Anglo American completes sale of Australian coal mine
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30 May 2017 at 02:00 am
Business Report

Johannesburg - Anglo American announced on Monday the completion of the sale of its 83.33 percent interest in the mothballed Dartbrook coal mine located in the Hunter Valley, New South Wales, Australia, to Australian Pacific Coal Limited (AQC).
Proudly SA develops a tender monitoring system
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30 May 2017 at 01:59 am
Business Report

Johannesburg - Proudly South African announced on Monday that it has developed an innovative, in-house tender tracking system to monitor government's compliance with its own mandate to make local procurement a priority.
New reporting will be costly and time consuming
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30 May 2017 at 01:56 am
Business Report

Pretoria - South African financial institutions, which include banks, long-term insurers and asset managers, will have to exchange financial account information in terms of the common reporting standard for the first time this year.
SAA sold assets at below market value
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30 May 2017 at 01:52 am
Business Report

Johannesburg - A forensic audit into long-term contracts at South African Airways Technical (SAAT) has laid bare how some of the airline's senior executives contravened all regulations to dispose of the airline's assets at prices way below their market value. This was done to benefit companies they allegedly have links with.
Eskom demands R6.2 billion from Mpumalanga pastor
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30 May 2017 at 01:48 am
Business Report

Johannesburg - Eskom is demanding R6.2 billion from Mpumalanga billionaire pastor and coal baron Ramesh Joe Singh after his firm Just Coal supplied the power utility's Tutuka Power Station with sub-optimal coal worth R5.8 billion.
Make a home loan part of your personal financial planning and reap the benefits
14 March 2017 at 11:51 pm
Magna Carta

Many South Africans buying houses and committing themselves to home loans, do so knowing that they are making the most important investment of their lives.
Accenture and partners launch the Innovation Index 2017
14 March 2017 at 11:40 pm
Magna Carta

JOHANNESBURG; March. 14, 2017 - In the technology disrupted world, the next wave of growth and competitiveness will come from continuous innovation. Businesses across various industries are looking for innovation to grow, compete and transform in the fast-growing digital economy.
CoAL converts $10m loan into equity
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11 March 2017 at 07:03 pm
Business Report

Johannesburg - Coal of Africa (CoAL) on Friday received notice from Yishun Brightrise Investment (YBI) requesting the conversion of a $10 million loan to CoAL's ordinary share capital.
Late pay by state still a big problem
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11 March 2017 at 06:59 pm
Business Report

Pretoria - Late payments by government entities to the construction sector remain a significant problem and are threatening the sustainability of some companies, particularly small and emerging contractors.
Gold Fields' South Deep plan revealed
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11 March 2017 at 06:57 pm
Business Report

Johannesburg - Gold Fields on Thursday announced a rise in profits and a long-awaited plan to make its South Deep mine profitable, with a production target of 500 000 ounces a year.
Aveng earnings hit by award
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11 March 2017 at 06:55 pm
Business Report

Pretoria - Listed construction and engineering group Aveng has revised its previous market guidance and reduced its expected earnings for the six months to December by R92 million because of a significantly lower-than-expected dispute adjudication board award
Russia's Rosatom denies it has nuclear deal in the bag
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11 March 2017 at 06:50 pm
Business Report

Johannesburg - Russian nuclear agency Rosatom has expressed interest in bidding for South Africa's nuclear project after it confirmed it was one of several companies that submitted a request for information to Eskom.
South32 on opportunistic commodity rebound trail
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11 March 2017 at 06:48 pm
Business Report

Johannesburg - Eager to capitalise on a rebound in commodity prices, South32, the Perth-based BHP Billiton spin-off mining company, wants to "opportunistically" boost manganese ore output.
Glencore buys out billionaire
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11 March 2017 at 06:40 pm
Business Report

Johannesburg - Glencore agreed to a $960 million deal that will boost ownership of two giant Congolese cobalt and copper mines, and sever its ties with controversial Israeli billionaire Dan Gertler.
'We want Mashaba removed'
11 March 2017 at 06:36 pm
Business Report

Johannesburg - A social movement that represents the interests of non-governmental organisations in the city has come out with guns blazing against Joburg mayor Herman Mashaba for allegedly being uncaring for his constituency.
#SOPA2017: Gautrain route expansion plan completed
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11 March 2017 at 06:32pm
Business Report

Johannsburg - A feasibility plan into the expansion of Gautrain service to areas such as Mamelodi, Soweto and Boksburg has been completed, Gauteng Premier David Makhura said.
Make or break year for PPC
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09 December 2016 at 08:39 am
Business Report

Johannesburg - PPC, South Africa's biggest cement maker, is gearing up for a watershed year that CEO Darryll Castle said will determine the company's future after the share price almost halved in 2016.
Sasol hedges oil
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09 December 2016 at 08:36 am
Business Report

Johannesburg - Energy giant Sasol says it has entered into hedges to mitigate financial risks next year, which covers the oil price.
Kremlin sells Rosneft stake to Glencore
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09 December 2016 at 08:28 am
Business Report

Moscow - Russia said on Wednesday it sold a stake in oil giant Rosneft for 10.5 billion euros ($11.3 billion) to Qatar and commodities trader Glencore, confounding expectations that the Kremlin's standoff with the West would scare off major investors.
Anglo faces messy divorce in birthplace
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09 December 2016 at 08:25 am
Business Report

London - In 1917, Ernest Oppenheimer met with South African general and soon-to-be prime minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul.
WBHO grows SA roads orders 26%
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09 December 2016 at 08:23 am
Business Report

Pretoria - Listed construction and engineering group WBHO reported on Tuesday that it had grown its South African roads and earthworks order book by 26 percent from June to September, with a further R1.2 billion secured by this cluster after September.
Business confidence is on the rise again
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09 December 2016 at 08:21 am
Business Report

Johannesburg - Business confidence in South Africa rose to its highest level in four months in November, helped by improvements in new vehicle sales and manufacturing output, the SA Chamber of Commerce and Industry (Sacci) said on Wednesday.
Nuclear plan still uncertain
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04 December 2016 at 10:21 pm
Business Report

Cape Town - The new nuclear construction programme remains in doubt as questions on funding remain unresolved by the government.
PetroSA executives must pay back bonuses, says DA
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04 December 2016 at 10:13 pm
Business Report

Cape Town - The Democratic Alliance on Sunday called for the R17.3 million in bonuses paid by PetroSA to its top executives to be paid back immediately, and for the legal opinion which "informed this disastrous payment" to be made public and tabled before Parliament.
Kumba sees higher profits
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04 December 2016 at 10:10 pm
Business Report

Johannesburg - Miner Kumba Iron Ore says its profitability will have improved in the full year.
No word on SeaWorld development
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04 December 2016 at 10:06 pm
Business Report

Durban - The tug of war over the prime Beachwood Golf Course property has ended, with the Durban Country Club announcing on Thursday that the property is to be sold.
AEEI tops in bumper year of awards
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04 December 2016 at 09:56 pm
Business Report

Cape Town - African Equity Empowerment Investments (AEEI) has landed its fifth performance award this year
Anglo sale sends Exxaro shares into a tailspin
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04 December 2016 at 09:40 pm
Business Report

Johannesburg - Exxaro Resources slumped close to 10 percent on the JSE on Thursday after the global ¬diversified mining house Anglo American announced the R3 billion sale of its 9.7 percent stake in the company to reduce its debt.
Consortium snaps up SMIT Amandla
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04 December 2016 at 09:36 pm
Business Report

Durban - African Marine Solutions Group (Amsol) on Thursday announced that it had acquired SMIT Amandla Marine, which it says is a market leader in the provision of specialist marine solutions in the Southern African region, for an undisclosed amount.
Massive loss for Chrometco
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04 December 2016 at 09:32 pm
Business Report

Johannesburg - Listed mineral exploration company, Chrometco said it would look at consolidating and growing its chrome business to reverse the massive loss it recorded during the six months ended August.
SacOil set to clinch wholesale deal
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04 December 2016 at 09:29 pm
Business Report

Johannesburg - Listed oil and gas company, SacOil said on Thursday that its negotiations to buy southern African-focused petroleum products wholesaler were at was an advanced stage.
Planning for power in SA
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04 December 2016 at 09:24 pm
Business Report

The purpose of this media statement is to clarify some of the issues around the Integrated Resource Plan (IRP) 2016 assumptions and base case.
'Eskom board regrets losing Molefe'
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04 December 2016 at 09:18 pm
Business Report

It is with a great sense of loss and regret that the board of Eskom last Friday announced the resignation of Eskom group chief executive Brian Molefe to step down in the interest of good corporate governance.
Eskom-Tegeta deal in best interests of SA
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04 December 2016 at 08:52 pm
Business Report

I read with keen interest what the ANC secretary-general Gwede Mantashe said about the Eskom-Tegeta deal; that it was corrupt and you do not need to be a rocket scientist to see that.
Transnet to sue Futuregrowth
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18 September 2016 at 08:45 am
Business Report

Parliament - Transnet group chief executive Siyabonga Gama revealed in Parliament on Wednesday that the South African parastatal intends to sue Futuregrowth Asset Management for damages.
Barloworld buys strategic 20% in Optron
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18 September 2016 at 08:42 am
Business Report

Johannesburg - Barloworld Equipment South Africa has acquired a strategic 20 percent stake in entrepreneurial technology company Optron Group for an undisclosed amount.
RBCT to follow process in Gupta deal
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18 September 2016 at 08:40 am
Business Report

Johannesburg - Africa's biggest coal export facility, Richards Bay Coal Terminal, said a proposed purchase by Vitol Group of a stake of export rights from a company controlled by South Africa's Gupta family, who are friends of President Jacob Zuma, is subject to standard procedure, according to the terminal's chief executive officer.
Attacq looks for opportunities abroad
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18 September 2016 at 08:35 am
Business Report

Johannesburg - Listed capital growth property company Attacq plans to increase its exposure to developed and emerging markets and slow down its prominence in South Africa.
Kumba hit with R1bn 2011 tax bill
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18 September 2016 at 08:33 am
Business Report

Johannesburg - Kumba Iron Ore tumbled 5.43 percent to R125.25 a share on the JSE after the South African Revenue Service (Sars) slapped the company's subsidiary, Sishen Iron Ore Company (SIOC), with a secondary claim of R1 billion for the 2011 financial year, bringing the company's total tax liability to R6.5bn since 2006.
M&R weighs US oil-gas deal
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18 September 2016 at 08:31 am
Business Report

Johannesburg - Murray & Roberts Holdings, the South African engineering and construction-projects company in talks to sell its building and infrastructure units, said it's evaluating a US oil and gas acquisition and will probably seek a larger international deal in years to come
Vitol's Gupta bid could unravel
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18 September 2016 at 08:28 am
Business Report

Johannesburg - Vitol Group's plans to buy a stake in Africa's biggest coal terminal from a company controlled by South Africa's Gupta family, who are friends of President Jacob Zuma, could be thwarted by the preemptive rights held by existing shareholders in the export facility, people familiar with the matter said.
Sasol boosts savings target
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18 September 2016 at 08:22 am
Business Report

Johannesburg - Sasol, the world's biggest producer of liquid fuel from coal, raised its cost-savings target by two-thirds after writedowns related to lower oil prices and a Canadian shale-gas project cut profit by 17 percent.
Afrox tightens grip on LPG market
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18 September 2016 at 08:16 am
Business Report

Johannesburg - Industrial gases and welding products firm African Oxygen (Afrox) is tightening its grip on the liquefied petroleum gas (LPG) market in southern Africa after the group sealed several supply contracts worth more than R1 billion in the past few days.
Grayston probe: Scaffolding supplier not biased
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14 August 2016 at 11:19 pm
Business Report

Johannesburg - In the ongoing Department of Labour probe into the collapse of what was meant to be a pedestrian bridge over the M1 at Grayston Drive, the scaffolding supplier has denied bias.
How government weighs on businesses
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14 August 2016 at 11:16 pm
Business Report

Johannesburg - Grant Thornton's latest International Business Report, for the second quarter of the year, shows that 61 percent of South African businesses have been negatively affected by government service delivery issues or regulatory requirements in the past six months.
PPC takes step towards easing liquidity problems
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14 August 2016 at 11:13 pm
Business Report

Johannesburg - Cement maker PPC took another step towards resolving its liquidity problems yesterday when shareholders voted overwhelmingly in favour of resolutions that would allow the listed cement and lime producer to embark on a R4 billion rights issue.
Group Five grows earnings in mixed environment
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14 August 2016 at 11:09
Business Report

Johannesburg - Listed construction company Group Five says its earnings for the year to June should improve substantially.
Arcelor and IDC aim to revive steel mill
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14 August 2016 at 11:05 pm
Business Report

Johannesburg - ArcelorMittal SA (Amsa) and the Industrial Development Corporation (IDC) were aiming to resuscitate South Africa's only structural steel mill which is owned by defunct Evraz Highveld Steel and Vanadium in an effort to supply local steel merchants.
Anglo shakes up iron-ore and coal bosses
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14 August 2016 at 11:01 pm
Business Report

Johannesburg - Global diversified mining giant Anglo American yesterday announced a shake-up of the leadership at two South African subsidiaries amid an environment in which mining houses were buckling under the pressure of volatile prices and low demand from China.
Despite the economic challenges, opportunities for commercial property growth are being unlocked
Picture: Magna Carta

19 July 2016 at 08:27 am
Naledi Sekoati
Magna Carta

Gaining traction as a small business is not easy in today's volatile economic climate. So when a long-standing Standard Bank client in the small mining town of Burgersfort approached the bank for urgent assistance in building a new Toyota dealership, it was a matter of quickly assessing the business value of the proposition and then structuring a solution to ensure the deal would not fall through.
Hard work pays off for Harmony Gold
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19 July 2016 at 01:14 am
Business Report

Johannesburg - Harmony Gold on Monday announced that it had met its annual production guidance of approximately 1.1 million ounces for the financial year.
Murray & Roberts back in the dock
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19 July 2016 at 01:08 am
Business Report

Johannesburg - Murray & Roberts will be back in the dock today as the Labour Department continues with its investigation on the collapse of the M1/Grayston Drive pedestrian and cycling bridge in October.
Coal of Africa: Universal takeover proposal lapses
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19 July 2016 at 01:06 am
Business Report

Johannesburg - Coal of Africa (CoAL) said on Friday that its R1.3 billion takeover proposal for the entire share capital of Universal Coal had fallen through as the offer had lapsed.
Mining fatalities: Zwane is concerned
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19 July 2016 at 01:01 am
Business Report

Johannesburg - Mineral Resources Minister Mosebenzi Zwane has visited Sibanye Gold to raise his concerns about increasing fatalities in the mining industry.
Sanco calls for review of unfair labour practices
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19 July 2016 at 00:57 am
Business Report

Johannesburg - The South African National Civic Organisation (Sanco) has called for a government-wide review of unfair discrimination and unfair labour practices against coloureds and other minority groups.
JSE may suspend Gupta's Oakbay
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19 July 2016 at 00:48 am
Business Report

Johannesburg - The JSE is considering suspending Oakbay's listing because it has yet to find a sponsor.
What CEOs earn
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19 July 2016 at 00:44 am
Business Report

Johannesburg - The CEO of a JSE-listed company earned a total guaranteed package of anywhere between R7.7 million and R3 million last year.
Zimbabwe wants Impala land
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19 July 2016 at 00:41 am
Business Report

Harare - Zimbabwe has applied for a court order to force an Impala Platinum Holdings unit to sell almost 28 000 hectares of its mining lease to the state, land the government says will benefit the economy.
Transnet gets going on coal line expansion
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19 July 2016 at 00:36 am
Business Report

Johannesburg - Transnet intended to increase the rail capacity on the Waterberg coal line from the current 2 million tons of coal a year to 6 million tons a year after completion of the second phase of the expansion of the coal line, it said yesterday
WBHO opens itself up to civil action suit
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19 July 2016 at 00:30 am
Business Report

Johannesburg - Although listed construction company Wilson Bayly Holmes-Ovcon (WBHO) has received immunity for anti-competitive practices from the Competition Tribunal, it has opened itself up to civil action.
PIC plugs R10.5bn into home loans
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19 July 2016 at 00:28 am
Business Report

Johannesburg - South Africa's Government Employees Pension Fund, the continent's largest, invested R10.5 billion ($730 million) in mortgage provider SA Home Loans to boost government workers' access to housing.
AEEI set to benefit from SA-India deal
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19 July 2016 at 00:25 am
Business Report

Johannesburg - African Equity Empowerment Investment (AEEI), which owns a 25 percent plus one stake in Saab Grintek Defence (SGD), is positioned to gain from a deal between Sweden's Saab and Tata Power Strategic Engineering Division (Tata Power SED).
RBPlat sees profits surge
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19 July 2016 at 00:22 am
Business Report

Cape Town - Royal Bafokeng Platinum said on Wednesday that it expected headline earnings per share for the six months to the end of June to be more than 200 percent better than a year ago.
Stefanutti wins hotel contract
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02 July 2016 at 09:57 am
Business Report

Johannesburg - The construction contract valued at about R625 million including VAT for the final phase of the R870m Houghton Hotel has been awarded to listed construction group Stefanutti Stocks.
M&R joint venture fined for collusion
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02 July 2016 at 09:53 am
Business Report

Johannesburg - Freyssinet Posten, an equal joint venture between Murray & Roberts (M&R) and Soletanche Freyssinet Group of France until about November 2011, has been fined about R4.7 million after admitting to price fixing, market allocation and collusive tendering on more than 60 projects
AngloGold earmarks $400m for Guinea push
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02 July 2016 at 09:49 am
Business Report

Conakry - South Africa-based gold producer AngloGold Ashanti plans to boost gold output in Guinea by investing over $400 million in the next eight years, according to an agreement reached this week with the West African country.
MTN forks out R1bn for Nigerian spectrum
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02 July 2016 at 09:45 am
Business Report

Lagos - MTN Group agreed to pay almost 19 billion naira ($67 million) for spectrum in Nigeria, enabling Africa's largest wireless operator to deliver high-speed internet services in its biggest market after settling a record regulatory fine.
Exxon keen on Mozambique gas?
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02 July 2016 at 09:22 am
Business Report

Johannesburg - Exxon Mobil is considering buying stakes in natural gas discoveries off Mozambique made by Anadarko Petroleum and Eni, potentially giving a tax windfall to the African nation grappling with a deepening debt crisis, according to two people with knowledge of the matter.
SACP wades into Gupta row
02 July 2016 at 09:20 am
Business Report

Johannesburg - The SACP has weighed in on the attempted grab for UBank by the Guptas, vowing to help the National Union of Mineworkers (NUM) fight off the controversial family's advances
Eastplats sells Barplats to Chinese firm
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02 July 2016 at 09:11 am
Business Report

Johannesburg - Canada-based Eastern Platinum has become the latest company to divest platinum assets in SA after agreeing to sell a local subsidiary to a Chinese firm for $50 million.
Econet's Neotel deal could drive competition
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02 July 2016 at 09:06 am
Business Report

Johannesburg - Econet's R6.55 billion offer for Neotel, through its Liquid Telecom subsidiary, may spell the end of Neotel's role as a direct competitor to Telkom, but it is also likely to drive broader competition as well as further consolidation in the local telecoms sector.
Exxaro needs funds for Matla expansion
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02 July 2016 at 09:03 am
Business Report

Johannesburg - Exxaro Resources is in talks with Eskom to obtain more funds to further develop its Matla coal mine after the electricity provider changed the model it uses to obtain the fuel for its plants.
Harmony Gold confirms fatality in Welkom
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25 June 2016 at 10:53 am
Business Report

Johannesburg - Harmony Gold Mining on Monday announced that an employee had died in a mine accident underground at its Welkom operation in the Free State over the weekend.
Clean energy for poor started of investment
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25 June 2016 at 10:38 am
Business Report

Barcelona - Only a tiny fraction of climate change funding is going into small-scale solar, biogas and other off-grid systems that may be the best way to get power to the world's poorest, researchers say.
Looking for cheap power?
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25 June 2016 at 10:35 am
Business Report

London - The average cost of electricity generated by solar and wind energy could fall by up to 59 percent by 2025 if the right policies are in place, a report by the International Renewable Energy Agency (IRENA) said on Wednesday.
China's spending fans fears
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25 June 2016 at 10:32 am
Business Report

Beijing - China is cranking up state spending on infrastructure to support economic growth as private-sector investment falters, raising concerns that reforms to the inefficient state sector are being kicked further down the road by the resulting build-up in debt.
Exxon, BHP to sell Australian oil stake?
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25 June 2016 at 10:26 am
Business Report

Melbourne - Exxon Mobil and BHP Billiton are studying plans to sell depleting energy assets in Australia, including the largest oil field ever discovered in the nation.
Zimbabweans go hungry in 'promised land'
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25 June 2016 at 10:15 am
Business Report

Mutare, Zimbabwe - Villagers relocated to a sprawling government-owned farm complex in eastern Zimbabwe to make way for the nation's biggest diamond field hope President Robert Mugabe's move to take control of the resource will benefit them.
Fuel joins the list of things China makes for the world
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25 June 2016 at 10:11 am
Business Report

Singapore - After supplying the world with everything from Victoria's Secret lingerie to iPhones and Barbie dolls, China is now producing fuel that's finding its way to pumps across the globe.
Operations to resume at Northam Platinum
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14 June 2016 at 11:42 pm
Business Report

Rustenburg - Workers were expected return to work at Northam Platinum's Zondereinde mine in Northam on Tuesday night, the National Union of Mineworkers (NUM) said.
Goodlace returns to Gold Fields
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14 June 2016 at 11:40 pm
Business Report

Johannesburg - Gold Fields on Tuesday announced that Impala Platinum (Implats) CE Terence Philip Goodlace would be joining the board as an independent non-executive director on July 1.
PPC scraps dividend as debt payment looms
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14 June 2016 at 11:37 pm
Business Report

Johannesburg - South Africa's biggest cement maker PPC scrapped its dividend on Tuesday for the first time in a over a century, seeking to conserve capital to repay debt.
China to fund DRC power plant
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14 June 2016 at 11:33 pm
Business Report

DRC - China's Sinohydro and China Railway Group will finance a $660 million hydroelectric plant in southeastern Democratic Republic of Congo which is being built to reduce the copper-mining region's power deficit.
NUM to march to Lily Mine
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14 June 2016 at 11:30 pm
Business Report

Johannesburg - The National Union of Mineworkers (NUM) said it will on Tuesday embark on a march to Lily Gold Mine to hand over a memorandum of grievances.
Africa's prospects dim, says academic economist
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31 May 2016 at 02:36 am
Business Report

Johannesburg - A leading academic economist says if high commodity prices have driven the advance in sub-Saharan Africa in the past two decades, the prospects for further gains seem dim.
Eskom tackles rising winter demand
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31 May 2016 at 02:33 am
Business Report

Johannesburg - As winter temperatures around the country begin to drop, Eskom has had to revise its weekend maintenance plans to ensure it meets the growing appetite for energy.
Anglo appoints Cleaver CEO of De Beers
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31 May 2016 at 02:30 am
Business Report

London - Anglo American plc has appointed Bruce Cleaver CEO of the De Beers Group following Philippe Mellier's decision to step down after five years.
SA has enough oil: CEF
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31 May 2016 at 02:27 am
Business Report

Johannesburg - South Africa's Central Energy Fund said that it has emergency "access" to adequate crude-oil stocks after reserves were sold last year.
Esor shares drop despite its return to profitability
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31 May 2016 at 02:25 am
Business Report

Johannesburg - Shares of construction company Esor fell 5.26 percent yesterday despite the company's return to profitability and a 176.6 percent rise in headline earnings a share in the year to February 29.
PICS: Amplats' bid to buy peace may backfire
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31 May 2016 at 02:18 am
Business Report

Mokopane, South Africa - Anglo American Platinum's bid to appease a community near its most profitable South African mine may unravel, highlighting the challenges of managing flashpoints of social unrest while trying to shore up its balance sheet.
Stor-Age plans to expand
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31 May 2016 at 02:15 am
Business Report

Johannesburg - Stor-Age Property will expand two of its existing self-storage properties in Cape Town at a cost of R44 million because of sustained high levels of occupancy and strong customer demand.
'Steel linked to South Africa's growth'
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31 May 2016 at 02:08 am
Business Report

Johannesburg - ArcelorMittal yesterday warned of the dire consequences for the government's growth aspirations if the local steel industry collapsed.
ArcelorMittal SA to save jobs for import relief
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31 May 2016 at 01:59 am
Business report

Johannesburg - ArcelorMittal South Africa will limit job cuts, invest in steel supply and increase black ownership in return for the nation imposing anti-dumping duties on cheap Chinese imports that threaten the company's future.
Rand dips amid anxiety over Gordhan report
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17 May 2016 at 06:32 am
Business Report

Johannesburg - South Africa's rand hit a two-month low against the dollar and government bonds weakened sharply on Monday after a newspaper report, denied by the government, that Finance Minister Pravin Gordhan faces arrest.
'Oppenheimer Blue' to go under the hammer
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17 May 2016 at 06:27 am
Business Report

London - A 14.62-carat blue diamond owned by an architect of the modern diamond industry could fetch a record price at this week's Magnificent Jewels auctions in Geneva.
China's steel mills take their chances
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17 May 2016 at 06:24 am
Business Report

Xiangfen County, China - When falling commodity prices and listless demand forced China's Shanxi Zhongsheng Steel Company to close in October, it was sitting on roughly enough unsold steel to lay high-speed train tracks from San Francisco to the Mexican border.
Steel glut concerns Obama and Turnbull
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17 May 2016 at 06:21 am
Business Report

Washington/Sydney - US President Barack Obama and Australian Prime Minister Malcolm Turnbull on Thursday discussed by telephone the global glut in steel supply, which many blame on chronic overcapacity at Chinese producers of the construction material.
Glasenberg lists mining industry's mistakes
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17 May 2016 at 06:16 am
Business Report

London - Glencore's billionaire Chief Executive Officer Ivan Glasenberg wants the mining industry to learn from past mistakes after a $1 trillion spending spree left the world awash with metals.
Panama Papers now searchable
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17 May 2016 at 06:13 am
Business Report

New York - A searchable database of more than 200 000 Panamanian shell companies was released online, as part of an international journalism group's effort to reveal the secrets of the offshore financial world.
Globe's most costly raw gem goes for $63m
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10 May 2016 at 08:06 am
Business Report

Johannesburg - Lucara Diamond sold an 813-carat jewel for $63 million, making it the most expensive rough gem on record and raising the prospects for the sale of the Lesedi la Rona, the world's second-biggest such stone that was unearthed last year.
Bob Diamond's Atlas Mara eyes another African bank
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10 May 2016 at 08:03 am
Business Report

Johannesburg - Atlas Mara, the African finance company co-founded by former Barclays boss Bob Diamond, is close to buying another bank on the continent.
Man who leaked #PanamaPapers speaks
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10 May 2016 at 08:00 am
Business Report

Berlin - The anonymous source behind the Panama Papers on Friday offered a passionate explanation for the mega-leak, arguing that the corruption of the super-rich has broken capitalism and could spark revolution.
PICS: 'Lesedi la Rona' gem up for auction
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10 May 2016 at 07:57 am
Business Report

New York - "Lesedi la Rona", the largest gem-quality rough diamond discovered in more than 100 years, will be auctioned in London next month and is expected to sell for $70 million, international auction house Sotheby's said on Wednesday.
Tesla's Musk wants progress
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10 May 2016 at 07:53 am
Business Report

San Francisco - Elon Musk, determined to turn his electric-car company into a great maker of things, said that he keeps a sleeping bag in a conference room adjacent to Tesla Motors' production line in Fremont, California.
BHP shares sink amid shock over lawsuit
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10 May 2016 at 07:50 am
Business Report

Sydney - Shares in Anglo-Australian mining giant BHP Billiton fell further on Thursday after Brazilian prosecutors filed a $43.4 billion lawsuit over a mine accident that killed 19 people and wreaked environmental havoc.
Are the robots coming for our jobs?
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10 May 2016 at 07:48 am
Business Report

Los Angeles - Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming.
Glencore's zinc and copper production dips
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10 May 2016 at 07:45 am
Business Report

London - Glencore's zinc and copper production fell in the first quarter as the company curbed mine output following last year's slide in commodity prices. It maintained output forecasts for all products except oil, which it reduced.
Tata Steel: UK assets attract bidders
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10 May 2016 at 07:43 am
Business Report

London - Two groups signalled their interest in buying the British assets of Tata Steel on Tuesday, offering hope that thousands of jobs could be saved after weeks of uncertainty.
Vale and BHP face lawsuit over dam spill
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10 May 2016 at 07:40 am
Business Report

Rio de Janeiro - Federal prosecutors in Brazil filed a 155 billion-real ($43.5 billion) civil lawsuit on Tuesday against iron miner Samarco and its owners, Vale SA and BHP Billiton, for a collapsed tailings dam in November that killed 19 people and polluted a major river.
Saudi prince unveils plans to end oil 'addiction'
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10 May 2016 at 07:37 am
Business Report

Riyadh - The powerful young prince overseeing Saudi Arabia's economy unveiled ambitious plans on Monday aimed at ending the kingdom's "addiction" to oil and transforming it into a global investment power.
Anglo moves on asset sale
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02 May 2016 at 11:31 pm
Business Report

Johannesburg - Global diversified Anglo American is selling its niobium and phosphates business in Brazil to China Molybdenum for $1.5 billion (R21.6bn) as part of a strategy to dispose of up to $4bn of assets this year.
Mining the most deadly sector
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02 May 2016 at 11:28 pm
Business Report

Johannesburg - The Federation of Unions of South Africa (Fedusa) said that South Africa's mining industry was "considered the most dangerous to work in".
Makhura enthuses over Mall of Africa
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02 May 2016 at 11:26 pm
Business Report

Johannesburg - Gauteng Premier David Makhura officially opened the new Mall of Africa on Thursday morning as thousands of shoppers continued to stream in for bargains offered by hundreds of shops in "opening sales".
Shoppers flood into Mall of Africa
Business Report

02 May 2016 at 11:23 pm
Business Report

The grand opening of the Mall of Africa in Johannesburg generated a lot of excitement on Thursday.
Implats boasts 17% production gain
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02 May 2016 at 1120 pm
Business Report

Johannesburg - ImpalaPlatinum (Implats), the world's second biggest platinum producer, on Tuesday posted a 17 percent boost to output in the March quarter, helped by strong numbers from its Zimbabwean arm.
Anglo's SA mine sale held up by Eskom
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02 May 2016 at 11:17 pm
Business Report

Johannesburg - Anglo American's sale of its South African coal mines will probably run into next year as bidders struggle with attempts by state power utility Eskom Holdings to transform its relationship with coal suppliers, according to two people with knowledge of the matter.
Eskom plan: $23bn over five years
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02 May 2016 at 11:10 pm
Business Report

Cape Town - South African power utility Eskom will spend R340 billion ($23.5 billion) over the next five years on new power plants and transmission lines, the public enterprises minister said on Tuesday.
Dangote Cement upbeat on earnings
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02 May 2016 at 11:07 pm
Business Report

Abuja - Dangote Cement, Africa's largest producer of the building material, said it expects to increase earnings in 2016 as cement volumes rise, despite an economic downturn in its home market of Nigeria and pressures elsewhere on the continent.
Implats' Q3 output boosted by Zimbabwe
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02 May 2016 at 11:04 pm
Business Report

Johannesburg - South Africa's Impala Platinum posted a 17 percent rise in production in the quarter to the end of March thanks to a 71 percent rise in output at its Zimbabwe unit Zimplats, the company said on Tuesday.
Sibanye's fortunes rise with gold price
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02 May 2016 at 11:01pm
Business Report

Johannesburg - The strengthening gold price was expected to more than double Sibanye Gold's earnings for the half year to June, it said yesterday as it reported a twofold increase in operating profit to R2.5 billion in the March quarter.
NUM sets bargaining conditions for Sibanye
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17 April 2016 at 11:36 pm
Business Report

Johannesburg - The National Union of Mineworkers (NUM), the biggest organised labour union in the gold sector, planned to snub Sibanye Gold's R25 monthly "stability premium", if the company failed to negotiate through centralised bargaining led by the Chamber of Mines.
China pressured to tackle steel supply glut
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17 April 2016 at 11:31 pm
Business Report

Beijing - China is facing increasing international pressure to tackle a steel supply glut that has flooded global markets and left beleaguered overseas producers at risk of closure.
Coal miner Peabody files for bankruptcy
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17 April 2016 at 11:13 pm
Business Report

New York - Leading global coal producer Peabody Energy filed for US bankruptcy protection on Wednesday after a sharp drop in coal prices left it unable to service debt of $10.1 billion, much of it incurred for an expansion into Australia.
Tesla tested by Enel to buffer rising SA power costs
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17 April 2016 at 11:10 pm
Business Report

Johannesburg - Enel Green Power SpA, the renewable energy unit of Italy's biggest utility, is rolling out a version of Tesla's home-power kit to help South African retail customers buffer against rising electricity prices and grid outages.
Jobs at risk as Tata Steel seeks British exit
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17 April 2016 at 11:05 pm
Business Report

Port Talbot, Wales - Britain battled to save its steel industry on Wednesday after India's Tata Steel put its British operations up for sale, leaving thousands of jobs at risk as a result of cheap Chinese imports.
Glencore mine deal to Tegeta concluded
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17 April 2016 at 11:03 pm
Business Report

Johannesburg - A company controlled by the Gupta family and South African President Jacob Zuma's son completed all obligations to buy Glencore's Optimum Coal unit, according to the administrator of the business-rescue team.
Fall in mining output hints at recession
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17 April 2016 at 11:00 pm
Business Report

Johannesburg - The annual rate of decline in mining production deepened to 8.7 percent in February from a fall of 5.5 percent the previous month, bringing the possibility of a recession closer.
Romeo Kumalo resigns from Eskom board
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17 April 2016 at 10:56 pm
Business Report

Johannesburg - Businessman and Eskom non-executive director Romeo Kumalo this week resigned from the power utility's board, citing business commitments that required his undivided attention and time.
Rebosis on the lookout for retail properties
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17 April 2016 at 10:53 pm
Business Report

Johannesburg - Rebosis, the substantially black-owned listed real estate investment trust, plans to significantly increase its exposure to retail property.
AngloGold concerned by looting in Ghana
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17 April 2016 at 10:50 pm
Business Report

Accra - Africa's biggest gold producer AngloGold Ashanti said on Wednesday it had "grave and mounting concerns" about illegal mining at its Obuasi mine in Ghana, which has been idle since 2014 when the company laid off thousands of workers.
Tribunal cements PPC acquisition of 3Q Mahuma
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17 April 2016 at 10:46 pm
Business Report

Johannesburg - The Competition Tribunal yesterday approved without conditions the acquisition by listed cement and lime producer PPC of 3Q Mahuma Concrete, the largest independently owned ready-mix concrete supplier in southern Africa.
RBA Holdings: 2015 financials to be released by June
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17 April 2016 at 10:44 pm
Business Report

Johannesburg - RBA Holdings, the listed affordable homes builder that is in business rescue, intends to publish its 2015 annual financial statements by June to accommodate the implications of the company being in business rescue.
Black Business Council welcomes Nkandla ruling
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03 April 2016 at 11:04 pm
Business Report

Johannesburg - The Black Business Council (BBC) on Friday said it had "noted and welcomed" the ruling by the Constitutional Court on the Nkandla matter.
Kibo moves closer to coal project
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03 April 2016 at 11:01 pm
Business Report

Johannesburg - Kibo Mining on Friday said it had completed is bankable feasibility study on schedule.
KPMG cuts ties with Guptas
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03 April 2016 at 10:59 pm
Business Report

Johannesburg - KPMG has become the first private firm to cut ties with the Gupta family over the fallout from the Mcebisi Jonas saga two weeks ago.
Who is SA's top-paid gold CEO?
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03 April 2016 at 10:56 pm
Business Report

Johannesburg - Nick Holland was the top-paid chief executive officer of South Africa's four biggest gold producers even as Gold Fields fell in 2015 and had a lower market value than rival AngloGold Ashanti.
De Beers hits first new diamonds
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03 April 2016 at 10:53 pm
Business Report

Johannesburg - De Beers's project to expand the world's most valuable diamond mine has encountered its first gem-bearing ore, seven years after it started.
CompCom raids wood producers
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03 April 2016 at 10:41 pm
Business Report

Johannesburg - The Competition Commission says in a statement issued on Thursday that it is conducting more search and seizure operations.
8 'special' diamonds found
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03 April 2016 at 10:44 pm
Business Report

Gaborone - Australian miner Lucapa Diamond Company has announced the recovery of eight large special diamonds, including a 68.1 carat gem.
Implats moves into hydrogen
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03 April 2016 at 10:47 pm
Business Report

Johannesburg - Impala Platinum Holdings, the world's second-biggest producer of the metal, developed a hydrogen-powered forklift truck and refuelling station in the latest step to stimulate demand for platinum.
UIF clampdown coming
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03 April 2016 at 10:50 pm
Business Report

Johannesburg - The Unemployment Insurance Fund wants to clamp down on employers who fail to declare their employees to the fund and the South African Revenue Service (Sars), with Parliament set to approve the UIF Amendment Bill.
Basil Read plans to maintain turnover
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03 April 2016 at 10:35 pm
Business Report

Johannesburg - Basil Read has restructured some of its operating divisions as part of a plan by the listed construction group to maintain group turnover at current levels after the conclusion this year of the bulk of the work on the first phase of the R4.6 billion St Helena airport contract.
PPC names interim chairman
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03 April 2016 at 10:39 pm
Business Report

Johannesburg - Cement supplier PPC has appointed Peter Nelson as interim chairman of the listed cement and lime producer, following the retirement of former chairman Bheki Sibiya at the end of January.
Eskom's plans find World Bank favour
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03 April 2016 at 10:27 pm
Business Report

Johannesburg - Eskom's plans to invest in transmission infrastructure received a major boost after the World Bank announced that its risk insurance and credit enhancement division would back the utility's loans with Deutsche Bank and Mizuho Bank to the tune of e698.9 million (R11.9 billion).
Growthpoint installs rooftop solar farms on its properties
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03 April 2016 at 10:31 pm
Business Report

Johannesburg - Growthpoint Properties has embarked on its largest yet rooftop solar power installations at its Northgate Mall in Johannesburg and Brooklyn Mall in Pretoria.
World Bank gives Eskom R12bn guarantee
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03 April 2016 at 10:25 pm
Business Report

Cape Town - The political risk insurance and credit enhancement arm of the World Bank Group said on Wednesday that it was providing guarantees of almost 700 million euros (R11.9 billion) for loans by international commercial banks to shore up Eskom's power transmission infrastructure in South Africa.
Basil Read back in the black
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03 April 2016 at 10:22 pm
Business Report

Cape Town - Basil Read on Wednesday reported a return to profit in the year to the end of December as the company continued to bring its focus back to its core business of heavy construction.
Mining houses fall down on worker benefits
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03 April 2016 at 10:19 pm
Business Report

Pretoria - Mining communities across the country say mining companies' social and labour plans (SLPs) do not cater for their actual needs.
Second Ingula unit synchronised - Eskom
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03 April 2016 at 10:15 pm
Business Report

Johannesburg - Eskom had synchronised the second unit of the Ingula Pumped Storage Scheme to the national electricity system, the utility said yesterday.
Govt seeks to quell mining tensions
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03 April 2016 at 10:10 pm
Business Report

Cape Town - The government has sent a team to try to reduce tension in an area where people are divided over a plan by an Australian company to mine titanium. An anti-mining activist was shot dead there last week.
LafargeHolcim upbeat on growth
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03 April 2016 at 10:06pm
Business Report

New York - LafargeHolcim, the world's biggest cement producer, is confident that a rally will continue in emerging markets this year even as others see raw materials from oil to iron ore faltering.
Coal of Africa: Rio Tinto payment dispute arises
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11 March 2016 at 08:35 am
Business Report

Johannesburg - Coal of Africa Limited (CoAL) said yesterday that it would dispute claims that it was in breach of obligations in connection with its acquisition of the Chapudi coal assets, part of the Greater Soutpansberg Project in Limpopo.
ArcelorMittal SA names De Klerk as new boss
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11 March 2016 at 08:31 am
Business Report

Johannesburg - Willem de Klerk has a massive job ahead as he becomes the new boss of Africa's biggest steel producer, ArcelorMittal South Africa (Amsa).
Eskom to spend R324bn on more power
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11 March 2016 at 08:26 am
Business Report

Cape Town - South Africa's Eskom will increase its capital expenditure by 44 percent to R324 billion ($21 billion) over the next five years to build new power stations, the state-owned company said on Wednesday.
Eskom deal out of Nersa's hands
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11 March 2016 at 08:23 am
Business Report

Cape Town - A deal Eskom signed in the 1990s with mining company BHP Billiton to supply it with low-cost electricity for its Hillside smelter in KwaZulu-Natal would continue at least until 2028.
No projects means cash for Merafe shareholders
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11 March 2016 at 08:20 am
Business Report

Johannesburg - Merafe Resources, the largest producer of ferrochrome in the world, yesterday said that it planned to return cash to shareholders as no major expansion projects were on the cards for the next two years.
Nersa explains 9.4% Eskom power hike
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11 March 2016 at 08:17 am
Business Report

Cape Town - The National Energy Regulator of South Africa (Nersa) has sent Eskom back to the drawing board to revise the first year of its Multi-Year Price Determination (MYPD), to what will be more reflective of reality.
Weak rand buffers Sasol from oil decline
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11 March 2016 at 08:15 am
Business Report

Johannesburg - The weak rand and the decline in global oil and commodity chemical prices featured strongly in Sasol's results for the six months to December.
Dangote eyes Morocco phosphate deal
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11 March 2016 at 08:10 am
Business Report

Lagos - Dangote Group, the company owned by Africa's richest man Aliko Dangote, said on Monday it planned to buy phosphate from Morocco and potash from Congo-Brazzaville to feed a planned fertiliser plant.
Sasol rethinks US operations
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11 March 2016 at 08:06 am
Business Report

Johannesburg - Sasol will review the cost and timing of its $8.9 billion chemicals plant in the US because of a sustained slump in oil and chemical prices as the world's biggest producer of motor fuel from coal reported a 63 percent drop in profit.
CER urges Anglo to be transparent
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11 March 2016 at 08:01 am
Business Report

Johannesburg - The Centre for Environmental Rights (CER), a non-profit organisation that champions the rights of communities to a healthy environment, has called for transparency in the sale of Anglo American's coal and iron ore assets.
Gautrain case victory lifts M&R shares
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11 March 2016 at 07:59 am
Business Report

Johannesburg - The Bombela Concession Company (BCC), whose shareholders include Murray & Roberts (M&R), has been awarded a provisional amount of R354 million by the arbitration tribunal for its claim against the Gauteng provincial government related to the Gautrain Sandton station cavern.
Miners win legal battle against companies
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11 March 2016 at 07:54 am
Business Report

Nearly 20 years after he was diagnosed with silicosis, Binyana Benson Qubeka will on Saturday walk into the Human Rights conference room in Braamfontein to reveal details of a landmark R500 million settlement he and thousands of other sickly mineworkers fought for against Anglo American.
Group Five appeals against tribunal order
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11 March 2016 at 07:51 am
Business Report

Johannesburg - Group Five has lodged an appeal against a Competition Tribunal order compelling the company to plead to charges related to alleged collusive tendering on a SA National Road Agency Limited (Sanral) contract before it was given access to the Competition Commission's investigation record of the case.
Eskom must pay for mine - Exxaro
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11 March 2016 at 07:48am
Business Report

Johannesburg - Listed diversified mining company Exxaro has demanded that Eskom pay for the operations and closure of Arnot mine in Mpumalanga.
Aveng ponders a farewell to steel
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25 February 2016 at 05:31 am
Business Report

Johannesburg - Aveng, the listed construction and engineering group, has entered into confidential discussions to sell at least part of its entire steel business.
Implats shaft still closed
25 February 2016 at 05:27 am
Business Report

Rustenburg - Shaft 14 of Impala Platinum Holdings' (Implats') mine in Luka near Rustenburg remains closed following an underground fire that claimed four lives a month ago, the company said on Tuesday.
Miners must benefit communities
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25 February 2016 at 05:22 am
Business Report

Johannesburg - South African mining companies should face tighter legislation to ensure their operations benefit local communities even when commodity prices fall, according to a group that's lobbying the government to strengthen regulation.
Harmony hedges third of this year's bullion sales
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25 February 2016 at 05:18 am
Business Report

Johannesburg - South Africa's Harmony Gold has entered into foreign exchange hedging contracts to the value of $400 million, a third of its projected gold sales this year, it said on Tuesday.
Strong performance in Australia buoys WBHO
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25 February 2016 at 05:14 am
Business report

Johannesburg - South Africa's biggest builder Wilson Bayly Holmes-Ovcon (WBHO) reported an 11-percent rise in first-half profit on Tuesday as a strong performance in Australia offset slow growth at home.
Aveng reports loss
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25 February 2016 at 05:10 am
Business Report

Johannesburg - South Africa's Aveng fell into a first-half loss on Tuesday due to weak global steel market and continued pressure on commodity prices.
AngloGold swings to profit amid debt cuts
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25 February 2016 at 05:06 am
Business Report

Johannesburg - AngloGold Ashanti, the only remaining gold producer on the JSE Top40 index, cut its debt by 30 percent last year and hoped to report a 10 percent improvement across its South African operations this year.
'Stop mining' Zim tells diamond miners
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25 February 2016 at 04:59 am
Business Report

Harare - Diamond mining companies in Zimbabwe's Marange fields are to stop their operations immediately because their licences have expired, the country's mines minister said on Monday.
Lily mine will pay
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25 February 2016 at 04:54 am
Business Report

Johannesburg - Lily mine on Monday clarified that Vantage Goldfields, owners of the collapsed mine in Mpumalanga where three miners remain trapped underground, would honour a promise to pay the mineworkers for their ordeal, but not as compensation, and that the amounts were still up for discussion.
Trans Hex cuts staff
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25 February 2016 at 04:48 am
Business Report

Cape Town - Trans Hex Group said on Monday that 125 employees, or 22 percent of the workforce, had accepted voluntary retrenchment packages as part of restructuring at its ageing Lower Orange River Operations (LOR).
Lonmin's mystery splurge
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25 February 2016 at 04:39 am
Business Report

Johannesburg - Embattled platinum producer Lonmin has guzzled the bulk of the $373 million (R5.74 billion) it raised through its controversial massively discounted rights issue in December for its critically needed refinancing.
'Zuma's son a top shareholder'
Picture: Business Report

25 February 2016 at 04:33 am
Business Report

Johannesburg - South African President Jacob Zuma's son Duduzane is the biggest individual shareholder in a group that's acquiring Glencore's Optimum colliery, a person familiar with the shareholding said. The group includes the Gupta family, whose links with the Zuma family have been criticised by opposition parties.
Strike continues at Lafarge SA
Picture: Business Report

25 February 2016 at 04:28 am
Business Report

Johannesburg - Workers at cement and building materials producer Lafarge South Africa remain on strike despite the National Union of Mineworkers (NUM) accepting the company's offer of an 8-percent salary increase.
Chevron defends contract negotiations
Picture: Business Report

25 February 2016 at 04:20am
Business Report

Johannesburg - Chevron South Africa executive chairman Shashi Rabbipal yesterday defended the company's move to renegotiate contracts with Caltex retailers, saying this was done in order to advance the company's transformation objectives.
Kumba expects earnings to plunge
Picture: Business Report

11 February 2016 at 07:13 am
Business Report

Johannesburg - South Africa's Kumba Iron Ore said on Tuesday it expected full-year earnings to plunge as much as 67 percent as it battled to cope with slumping prices the steel-making ingredient, sending its shares lower.
D-Day looms for power hikes
Picture: Business Report

11 February 2016 at 07:10 am
Business Report

Johannesburg - If consumers would still like to comment on Eskom's proposed 16.6-percent tariff increase, they should act fast: The two final hearings by the National Electricity Regulator of SA (Nersa) are being held on Thursday and Friday.
Gupta probe is 'usual'
Picture: Business Report

11 February 2016 at 07:06 am
Business Report

Johannesburg - The probe into the Gupta-linked Tegeta's purchase of Glencore's Optimum Coal Holdings is usual when large mergers take place.
Sasol to drill in Mozambique
Picture: Business Report

11 February 2016 at 07:02 am
Business Report

Johannesburg - South Africa's Sasol has received the green light by Mozambique to develop more oil and gas fields in the southern African state, the company said on Monday, without disclosing how much the project will cost.
Glencore 'worked' with govt on Gupta deal
Picture: Business Report

11 February 2016 at 07:00 am
Business Report

Johannesburg - Glencore said it worked with "stakeholders" including the government to facilitate the sale of its Optimum coal mine after Johannesburg's Sunday Times reported that the South Africa's mines minister met Glencore's chief executive officer ahead of the mine's sale to a group owned by friends of President Jacob Zuma.
Alcoa shuffles board before split
Picture: Business Report

11 February 2016 at 06:57 am
Business Report

New York - Alcoa is keeping Paul Singer on its side as it prepares to split into two in the midst of the lowest aluminum prices in six years.
Basil Read: Sale of SprayPave, Armac sealed
Picture: Business Report

11 February 2016 at 06:52 am
Business Report

Johannesburg - Listed construction group Basil Read reported yesterday that all the conditions precedent to the sale of its SprayPave and Armac businesses to Much Asphalt for R78.64 million cash had either been fulfilled or waived.
Lucky Cement drops court challenge
Picture: Business Report

11 February 2016 at 06:49 am
Business Report

Johannesburg - Pakistan cement producer Lucky Cement has decided against reviving its South African court challenge to the imposition by the International Trade Administration Commission (Itac) of anti-dumping duties on Portland cement imports from Pakistan.
Group Five's shares lift on forecast
Picture: Business Report

11 February 2016 at 06:45 am
Business Report

Johannesburg - Shares in Group Five surged by almost 11 percent on Friday after the listed construction and engineering group anticipated significantly higher earnings for the six months to December before tracking back to close 8.6 percent higher on the day at R15.75.
Zuma allies in revolt over Guptas - report
Picture: Business Report

11 February 2016 at 06:41 am
Business Report

Cape Town - President Jacob Zuma's closest political allies this week broke ranks with him over his close ties to the influential Guptas, in a move that has isolated Zuma and laid bare growing hostility in ANC circles to the family, the Sunday Times reported.
Nigeria, Angola want World Bank help
11 February 2016 at 06:38 am
Business Report

Lagos - Nigeria and Angola, Africa's two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening currencies and strained public finances.
Opposition to De Beers' bid for licence
Picture: Business Report

11 February 2016 at 06:33am
Business Report

Diamonds may be for ever, but clean water isn't. That's at the heart of a mounting campaign to preserve one of South Africa's last-remaining pristine river systems from a prospecting bid by mining giant De Beers.
Rate hike may not curb inflation - DCC
Picture: Business Report

11 February 2016 @06:26
Business Report

Durban - The Reserve Bank's decision to increase the repo rate by 50 basis points might not curb inflation, according to the Durban Chamber of Commerce (DCC).
Glencore stock plunges
Picture: Business Report

16 November 2015 at 12:45
Business Report

Hong Kong - Shares in troubled mining giant Glencore plunged in Hong Kong on Friday, following a rout in London as a sell-off in metals shows no sign of abating.
Standard Bank loses African head
Picture: Business Report

16 November 2015 at 12:42
Business Report

Johannesburg - Stephen Bailey-Smith, the London-based head of African markets strategy at Standard Bank Group, has left the company.
Sibanye sets eyes on coal
Picture: Business Report

16 November 2015 at 12:38
Business Report

Johannesburg - Sibanye Gold is interested in buying Anglo American's coal assets in South Africa as part of its plan to reduce reliance on state-run electricity supplier Eskom Holdings and cut power costs.
Eskom's plan is working
Picture: Business Report

16 November 2015 at 12:35
Business Report

Johannesburg - A plan to reform state-owned power company Eskom Holdings and provide more electricity to South Africa and its economy is starting to show results, according to CEO Brian Molefe.
Eskom seeks R22.8bn to recoup costs
Picture: Business Report

16 November 2015 at 12:31
Business Report

Johannesburg - South African electricity consumers could be faced with a massive electricity hike next year if the National Energy Regulator of SA (Nersa) grants Eskom the R22.8 billion it has requested to recoup its costs for the past financial year.
Lonmin too 'complex' for a buyout
Picture: Business Report

16 November 2015 at 12:28
Business Report

Johannesburg - Lonmin, with its plunging share price, is unlikely to attract suitors looking for a cheap takeover, amid platinum metal prices at multiyear lows, legacy issues, high cost inflation and low investor confidence in the company.
Eskom wants R23bn adjustment
Picture: Business Report

16 November 2015 at 12:22
Business Report

Cape Town - Eskom said on Thursday it has asked the National Energy Regulator of SA (Nersa) to approve a regulatory clearing account balance of R22.8 billion for the 2013/14 financial year.
Anglo's ore boss in Brazil steps down
Picture: Business Report

16 November 2015 at 12:19
Business Report

London - Anglo American on Thursday announced several management changes, including the resignation of the chief executive of its iron ore business in Brazil and the appointment of a new CEO for its marketing business.
Water bars roll out in Joburg
Picture: Business Report

16 November 2015 at 12:14
Business report

Johannesburg - As Joburg residents become increasingly concerned over the supply of water - after taps in several areas ran dry this week - one local company is capitalising on the situation.
SA CEOs are coining it
Picture: Business Report

15 November 2015 at 12:01
Business Report

Johannesburg - Pay differentials between the highest and lowest paid corporate employees in South Africa have stabilised after retreating from all-time highs set in 2008, but the gaps are still amongst the highest in the world.
CIG up on power needs
Picture: Business Report

15 November 2015 at 11:56
Business Report

Cape Town - Diversification across sectors and regions helped Consolidated Infrastructure Group (CIG) lift profit for the year to August by 28 percent, from R258 million to R331 million, on revenue that was 37 percent higher at R3.6 billion.
Lonmin falls 45% as investors walk
Picture: Business Report

15 November 2015 at 11:49
Business Report

Johannesburg - Chances of Lonmin's survival grew increasingly slim yesterday after the company's share price plunged as investors fled after the company said it would sell billions of shares at a massive discount.
Implats to up production
Picture: Business Report

30 October 2015 at 06:05
Business Report

Johannesburg - Impala Platinum said it will increase production 17 percent in 2016 after the world's second- biggest producer of the metal raised output by 8.6 percent in the first quarter as it recovered from a five-month strike at operations in South Africa.
Acsion seeks opportunities in Europe, Africa
Picture: Business Report

30 October 2015 at 06:02
Business Report

Johannesburg - Acsion, the listed specialist commercial and residential property developer and owner, is making progress with its R1.98 billion development pipeline and pursuing potential opportunities in Africa and central and eastern Europe.
Transnet slows growth plan
Picture: Business Report

30 October 2015 at 06:00
Business Report

Johannesburg - Freight rail and logistics giant Transnet has slammed the brakes on its ambitious multibillion-rand plan to upgrade rail, ports and pipeline infrastructure as commodity prices slumped amid the subdued global and domestic economy.
Brikor comes out on top
Picture: Business Report

30 October 2015 at 05:57
Business Report

Johannesburg - Altx-listed clay brick and aggregates manufacturer Brikor has come out of provisional liquidation, saving more than 1 000 jobs and creating about 250 jobs.
Transnet plans large loan
Picture: Business Report

30 October 2015 at 05:54
Business Report

Johannesburg - South African logistics group Transnet is planning a large syndicated loan to fund part of 10-year spending plan on new trains and pipelines, its acting chief financial officer said on Thursday.
M&R stock under the whip
Picture: Business Report

30 October 2015 at 05:52
Business Report

Johannesburg - Murray & Roberts shares continue to hover around all-time lows as the Department of Labour kicks off its investigation into what caused a fatal bridge collapse.
Labour woes may hit Sibanye's profits
Picture: Business Report

30 October 2015 at 05:49
Business Report

Johannesburg - South African mining group Sibanye Gold warned on Thursday that headline earnings per share for the year to end-December could plunge more than 20 percent to 136 cents, as expected gold production falls 4-6 percent after output was lost earlier in the year due to labour disruptions over wage negotiations.
Higher container volumes lift Transnet
Picture: Business Report

30 October 2015 at 05:46
Business Report

Johannesburg - Transnet, South Africa's state-owned ports and rail operator, said first-half earnings rose 9 percent as higher iron ore and container volumes offset weaker coal movements.
Trellidor lists, plans expansion
Picture: Business Report

30 October 2015 at 05:42
Business Report

Johannesburg - South African security barrier firm Trellidor Holdings listed in Johannesburg at the lower end of its expected price range on Wednesday, joining a growing band of firms seeking to expand in a nation known for its high crime rate.
Junior miner Igolide bucks the trend
Picture: Business Report

30 October 2015 at 05:40
Business Report

Johannesburg - South Africa's gold sector has been described as being in terminal decline, but this has not deterred junior miner Igolide Mining from entering into a partnership to produce the precious metal with a promise of creating 400 new jobs.
Pay Eskom, or else - govt
Picture: Business Report

30 October 2015 at 05:30
Business Report

Johannesburg - South Africa is considering withholding funds from 27 local municipalities who are failing to pay their electricity bills to state-owned utility Eskom Holdings.
Amplats looking to float SA mines?
Picture: Business Report

12 June 2015 at 02:50
Business Report

Johannesburg - Anglo American Platinum is considering floating its labour-intensive South African mines around Rustenburg on the stock market rather than selling them because the offers it has received are too low, a company and banking source said on Friday.
Aveng shares dip to lowest since 2004
12 June 2015 at 02:46
Business Report

SHARES in construction group Aveng fell to their lowest level in almost 11 years yesterday after the company forecast a halving in profit.
Afrimat offers to buy out Infrasors
Picture: Business Report

12 June 2015 at 02:44
Business Report

AFRIMAT is to make a cash offer to acquire the entire remaining shareholding in listed building material firm Infrasors that it does not already own.
Stenprop looking up after posting a profit
12 June 2015 at 02:41
Business Report

STENPROP yesterday reported a substantial profit after having annouced a loss in the previous reporting period.
Lonmin: Shares fall as Glencore pulls out
12 June 2015 at 02:39
Business Report

LONMIN fell the most in three months as Glencore completed the distribution of its 23.9 percent stake in the third-largest platinum producer to shareholders.
Pemex hails success of exploration
Picture: Business Report

12 June 2015 at 02:37
Business Report

Mexico City - Mexican state energy giant Pemex announced on Wednesday its biggest exploration success in five years, the discovery of new shallow water oil fields that could yield 200 000 barrels per day.
Kalagadi mining contract awarded
12 June 2015 at 02:34
Business Report

MURRAY & Roberts (M&R) subsidiary Murray & Roberts Cementation has been awarded a R4.8 billion five-year contract mining project for Kalagadi Manganese in the Northern Cape.
New wind farm powers up
12 June 2015 at 02:33
Business Report

AURORA Wind Power has started commercial operation of the 94 megawatt West Coast 1 wind farm near Vredenburg in the Western Cape.
Central Energy Fund wants PetroSA as national oil firm
Picture: Business Report

12 June 2015 at 02:31
Business Report

Paul Burkhardt and Paul Vecchiatto
The Central Energy Fund (CEF), which manages South Africa's energy interests, wants the government to designate PetroSA, whose executives are in talks over potential suspensions, as the national oil company.
Harare breaks ground with SA firms, lifts export ban
Picture: Business Report

12 June 2015 at 02:28
Business Report

Tawanda Karombo Harare
AN AGREEMENT between Zimbabwe and South African platinum producers - Anglo American Platinum (Amplats) and Aquarius Platinum - over requirements that they set up smelting facilities there was now in sight, two cabinet ministers said yesterday.
Exxaro Resources: 'Deal must include community stake'
12 June 2015 at 01:56
Business Report

EXXARO Resources' deal to buy Total's South African coal unit for $472 million (R6 billion) should include a community stake to be granted state approval, the country's mineral resources minister said.
AngloGold shares surge after selling mine
Picture: Business Report

12 June 2015 at 01:54
Business Report

ANGLOGOLD Ashanti, the world's third-largest gold producer, climbed its most in seven months after selling its Cripple Creek & Victor mine to Newmont Mining. This ended speculation it would have to issue shares
South32 mulls manganese writedown
Picture: Business Report

12 June 2015 at 01:48
Business Report

Johannesburg - South32 Ltd, the mining company spun off from BHP Billiton Ltd, said it may reduce the value of its 60 percent stake in a South African manganese venture as it keeps furnaces shut due to low prices for the steelmaking ingredient.
AngloGold sells US mine for $820m
12 June 2015 at 01:40
Business Report

Denver - Newmont Mining Corporation has agreed to buy the Cripple Creek & Victor gold mine in Colorado from AngloGold Ashanti Ltd for $820-million, giving the world's No. 2 gold producer an expanding asset in a mining-friendly jurisdiction.
R193bn private sector energy assistance
12 June 2015 at 01:35
Business Report

THE investment in renewable energy by the private sector has climbed to R193 billion after Minister of Energy Tina Joemat-Pettersson announced 13 extra preferred bidders for the renewable energy independent power producer procurement programme.
Call to review preferential gold mine tax
12 June 2015 at 01:33
Business Report

SOUTH Africa should review a preferential tax enjoyed by gold producers, a commission set up to look into taxes in the country said in a report published on Friday
African Rainbow: Motsepe sticks with Harmony
12 June 2015 at 01:27
Business Report

AFRICAN Rainbow Minerals, owned by billionaire Patrice Motsepe, will keep its stake in Harmony Gold even as South Africa's third-biggest miner of the precious metal trades at 17-year lows.
PPC terminates merger talks
27 March 2015 at 03:56
Business Report

Johannesburg - South Africa's biggest cement maker PPC Ltd has ended merger talks with unlisted rival Afrisam Group, the firm said on Friday, sending its shares nearly 5 percent higher.
Gold companies: More housing for miners on the cards
27 March 2015 at 03:53
Business Report

SOUTH Africa's biggest gold companies plan to build and sell more houses to employees to ease the social pressures that led to the deaths of at least 44 people in 2012 and a record-long strike in platinum last year.
Eskom CEO awaits court ruling
Picture: Business Report

27 March 2015 at 03:51
Business Report

Johannesburg - Judgment in the challenge by Eskom CEO Tshediso Matona to have his suspension set aside has been reserved by the Labour Court in Johannesburg on Thursday, City Press online reported.
Stop Eskom gossip: presidency
Picture: Business Report

27 March 2015 at 03:49
Business Report

Pretoria - The presidency on Thursday said it would not entertain what it called rumours and gossip about operations at Eskom.
Zille challenges Zuma on Eskom probe
Picture: Business Report

27 March 2015 at 03:46
Business Report

Cape Town - President Jacob Zuma must explain why he instructed Eskom's chairman to launch an inquiry into the utility's performance, which led to the suspension of top executives, DA leader Helen Zille said on Thursday.
Casino seems a sure bet
Picture: Business Report

27 March 2015 at 03:41
Business Report

Pretoria - Sun International has removed the biggest obstacle to its planned relocation of the Morula Sun Hotel and Casino licence to Menlyn Maine in Pretoria east by buying the opposition Peermont Group.
Eskom derails
Picture: Business Report

27 March 2015 at 03:37
Business Report

The crisis at at Eskom took a turn for the worse on Wednesday as suspended chief executive Tshediso Matona faced off with chairman Zola Tsotsi, while a protest by some 7 000 Numsa members shut down Medupi power station and the embattled utility instituted Stage 2 power cuts to avert total collapse of the grid.
Eskom probe to provide answers: Ramaphosa
Picture: Business Report

27 March 2015 at 03:30
Business Report

Parliament - Deputy President Cyril Ramaphosa on Wednesday cast the probe into Eskom's top management as a bid by Public Enterprises Minister Lynne Brown to find the faultlines in the running of the utility.
Numsa marches against Medupi
Picture: Business Report

27 March 2015 at 03:26
Business Report

Polokwane - Numsa members working at the Medupi power station in Lephalale, Limpopo, marched against Eskom demanding better working conditions, the union said on Wednesday.
Ramaphosa mum on Eskom funding
Picture: Business Report

27 March 2015 at 03:22
Business Report

Parliament, Cape Town - Government's sale of non-core strategic assets to fund Eskom should be left in the hands of Treasury and the Department of Public Enterprises, Deputy President Cyril Ramaphosa said on Wednesday.
Iron ore to fall below $50 as China demand slows'
Picture: Business Report

27 March 2015 at 03:18
Business Report

Jasmine Ng Singapore
IRON ore would slump below $50 (R600) a ton as steel demand in China, the world's largest producer of the alloy, remained fundamentally weak and mining firms' costs extended declines, according to Citigroup.
Busa, Ramaphosa in Eskom talks
Picture: Business Report

27 March 2015 at 03:12
Business Report

Johannesburg - Deputy President Cyril Ramaphosa will continue meeting Business Leadership SA to address Eskom's problems, the presidency said on Monday.
Lafarge 'open' to changing ratio in Holcim deal
Picture: Business Report

17 March 2015 at 05:43
Business Report

Geneva - Lafarge SA said it's willing to consider revising the share-exchange ratio in its planned merger with Holcim Ltd of Switzerland, though it's not willing to accept any other changes to the deal.
Shell pulls back from shale in SA
Picture: Business Report

17 March 2015 at 05:38
Business Report

Johannesburg - Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices, although it is still seeking an exploration licence for the onshore Karoo Basin, its country manager said on Monday
Coal miner Murray to gain control of rival
Picture: Business Report

17 March 2015 at 05:35
Business Report

New York - Murray Energy Corporation, the coal miner founded and run by outspoken industry champion Robert E. Murray, agreed to acquire control of a rival producer for $1.4 billion to add output in the US Midwest and create one of the country's largest suppliers of the commodity.
ARM earnings hit by lower prices
Picture: Business Report

17 MArch 2015 at 05:32
Business Report

Johannesburg - South African mining group African Rainbow Minerals Ltd (ARM) said on Monday its first-half headline earnings fell by more than 50 percent due to lower prices for its commodities such as iron ore and platinum.
Communities still opposed to CoAL
17 March 2015 at 05:26
Business Report

COMMUNITIES around Coal of Africa Limited's (CoAL) R3.9 billion Makhado project in Limpopo have denied being part of the empowerment structure the company announced it had completed on the JSE news service on Friday.
Glencore must prioritise workers - NUM
17 March 2015 at 05:23
Business Report

Johannesburg - The National Union of Mineworkers (NUM) on Saturday, urged mining company Glencore to prioritise the needs of its employees and reconsider closing its Optimum operations.
Eskom inquiry a credit negative: Moody's
Picture: Business Report

17 March 2015 at 05:20
Business Report

Johannesburg - The initiation of an independent inquiry into Eskom, following the suspension of four executives, was a credit negative, ratings agency Moody's Investor Services said on Friday.
'Eskom suspensions are worrying'
Picture: Business Report

17 March 2015 at 05:16
Business Report

Johannesburg - Parliament's public enterprises portfolio committee is concerned at the suspension of four top Eskom executives, it said on Friday.
"We register our concern regarding the stability and governance of the power utility, considering the current energy challenges facing the country," committee chairwoman Dipuo Letsatsi-Duba said in a statement.
Collusive tendering cases referred to tribunal
29 December 2014 at 00:01
Business Report

TWO separate collusive tendering cases involving construction firms Afristruct Projects and Giuricich Coastal Projects have been referred by the Competition Commission to the Competition Tribunal for prosecution.
Tower Property in growth spurt
29 December 2014 at 11:58
Business Report

LISTED Tower Property Fund has concluded agreements to acquire three non-metropolitan shopping and community centres in Brits, Ennerdale and Modimolle for R1.27 billion.
Bid-rigging case goes to tribunal
29 December 2014 at 11:56
Business Report

CONSTRUCTION firms Power Construction West Cape and Haw & Inglis were allegedly involved in collusion and bid-rigging on a tender issued by the SA National Roads Agency (Sanral) for periodic maintenance of the N1 from Touws River to Laingsburg.
Fairvest to buy shopping centre
29 December 2014 at 11:51
Business Report

FAIRVEST, the listed property company, has entered into an agreement to acquire the 8 543m2 Sibilo shopping centre in Postmasburg in the Northern Cape for R95 million.
Zim foreigners 'lucky to get 49%'
Picture: Business Report

29 December 2014 at 11:48
Business Report

Harare - Zimbabwe's new Indigenisation Minister Christopher Mushowe says foreign investors are "very lucky" to get 49 percent shares in businesses they have set up, the Herald newspaper reported on Wednesday.
Brikor in bid for business rescue
28 November 2014 at 14:20pm
Business Report

BRIKOR, the listed manufacturer and supplier of building and construction materials placed in provisional liquidation in August last year, claims it is financially distressed but trading profitability and has applied to be placed under business rescue.
Guptas to list energy company on JSE
Picture: Business Report

28 November 2014 at !4:16pm
Business Report

The Gupta family intend listing a uranium mine on the Johannesburg Stock Exchange to raise R800 million, the Beeld reported on Saturday.
Exxon finalising Ivory Coast deal
Picture: Business Report

28 November 2014 at 14:05pm
Business Report

Yamoussoukro - Ivory Coast is finalising production sharing agreements with oil company Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea, a senior official with the country's energy ministry told Reuters on Friday.
African Minerals eyes mine stake
Picture: Business Report

28 November 2014 at 13:59pm
Business Report

London/Bangalore - African Minerals will seek to sell part of its stake in the Tonkolili iron ore mine in Sierra Leone in what analysts say is a last-ditch effort to stay afloat, after it failed to secure the release of funds held by its Chinese partner.
SacOil plans to build a 600km pipeline link to Mozambique
28 November 2014 at 13:54pm
Business Report

SACOIL wants to diversify its assets by building a natural gas pipeline in Mozambique and developing Egyptian oil wells, according to chief executive Thabo Kgogo.
Kumba starts R4.2bn town resettlement
Picture: Business Report

28 November 2014 at 13:48pm
Business Report

Johannesburg - Kumba Iron Ore started moving more than 500 households as part of plans to raise output at Africa's largest mine for the steelmaking ingredient as the Anglo American unit announced a business review.
PPC shareholders seek board overhaul
Picture: Business Day

05 November 2014 at 09:54am
Business Report

Johannesburg - Cement maker PPC said on Friday it would convene a general meeting to consider removal of its entire board after three shareholders holding a 10 percent stake requested it.
Russia may resume Ukraine gas supply
05 November 2014 at 09:49am
Business Report

Moscow - Russia may restart gas supplies to Ukraine as soon as next week if all financial conditions are met, Alexei Miller, head of state gas monopoly Gazprom, said on Friday.
Friedland platinum mine plan hits impasse
Picture: Business Report

05 November 2014 at 09:46am
Business Report

Johannesburg - Construction of the biggest platinum mine planned since 1993 is being delayed because of an impasse between billionaire Robert Friedland's Ivanhoe Mines and South Africa's mines ministry over the extent to which local communities will benefit.
Minister wants to meet billionaire over spat
Picture: Business Report

05 November 2014 at 09:40am
Business Report

Johannesburg - South African Mineral Resources Minister Ngoako Ramatlhodi has asked to meet Ivanhoe Mines executive chairman Robert Friedland to resolve issues relating to the government's approval for a $1.6 billion (R18 billion) platinum mine.
Transnet scraps new coal terminal idea
Picture: Business Report

05 November 2014 at 09:22am
Business Report

Johannesburg - Transnet, South Africa's state-owned ports and rail operator, has scrapped plans to build a new export facility near the Richards Bay Coal Terminal after resolving a dispute with RBCT's largest shareholder, BHP Billiton.
Transnet's profit drops 25%
Picture: Business Report

05 November 2014 at 09:08am
Business Report

Johannesburg - Transnet said first-half profit fell 25 percent after finance costs rose and the South Africa's state-owned ports and rail operator's writedowns of older equipment more than doubled.
SA, Kenya sign maritime integration strategy
Picture: Business Report

28 October 2014 at 11:17am
Business Report

Transnet National Ports Authority (TNPA) was taking a lead in the maritime regional integration strategy by sharing its expertise with the rest of the continent's ports, it said on Friday.
BHP Billiton, Rio Tinto are fuelling iron ore glut, says Glencore's Glasenberg
Picture: Business Report

28 October 2014 at 11:04am
Business Report

IVAN Glasenberg, the billionaire chief executive of Glencore, has argued his two biggest rivals have got it wrong by feeding a global glut of iron ore.
Meeting to clarify PPC's board future
28 October 2014 at 10:56am
Business Report

THE FUTURE of the under pressure board of PPC should become clearer this week.
This follows the demand by Foord Asset Management, with the support of Visio Capital Management, earlier this month for the board of the listed cement and lime producer to call a special general meeting over the proposed removal of the current board.
State to budget for nuclear build
Picture: Business Report

28 October 2014 at 10:50am
Business Report

Cape Town - The strongest hint yet that an initial budgetary allocation for South Africa's controversial new nuclear power stations might come in February's Budget was made by Minister in the Presidency Jeff Radebe on 23 October 2014.
'Eskom coal mine may risk SA water'
Picture: Business Report

28 October 2014 at 10:46am
Business Report

Johannesburg - Water supply to millions of South Africans could be hampered if the development of a coal mine that will feed Eskom's Lethabo power station goes ahead, the Times newspaper reports.
WG Wearne: Two contracts awarded worth R70m
28 October 2014 at 10:42am
Business Report

WG WEARNE had been awarded two contracts valued at R70 million for the supply of ready-mixed concrete and earthworks services for a solar energy project in Pofadder, the financially troubled listed company said yesterday.
Murray & Roberts: Water treatment firm added for R28m
17 October 2014 at 10:10am
Business Report

Murray & Roberts (M&R), the listed construction and engineering group, said yesterday it had acquired Aquamarine Water Treatment, which designs, manufactures and installs water treatment solutions, for R28 million.
Aquarius Platinum halts work after mine death
Picture: Business Report

17 October 2014 at 10:08am
Business Report

Johannesburg - Aquarius Platinum suspended operations at a Kroondal mine shaft in South Africa after a fatal accident from a fall of ground, the company said in a statement.
Kumba, Anglo up on strong China trade data
Picture: Business Report

17 October 2014 at 09:41am
Business Report

Johannesburg - Shares of Kumba Iron Ore and its parent Anglo American put in strong gains, lifted by surprisingly strong trade from China, by far the world's largest market for iron ore.
Platinum, mining strikes see steel, engineering contract 2.5% - Seifsa
16 October 2014 at 12:00am
Business Report

STRIKES IN South Africa's platinum and metals industries will contribute to a contraction of as much as 2.5 percent in the steel and engineering sector this year, according to the biggest employer group.
Royal Bafokeng Platinum: Operations suspended after death
16 October 2014 at 11:57pm
Business Report

BLACK owned Royal Bafokeng Platinum (RBPlat) suspended operations at its Bafokeng Rasimone Platinum Mine on Friday after an employee was killed in underground accident, the second involving RBPlat last week.
Eskom bungles R35m deal
Picture: Business Report

16 October 2014 at 11:54pm
Business Report

Johannesburg - Even as it struggles to keep the lights on, amid warnings that the electricity supply will be tight for years to come, Eskom has to pay at least R35 million for energy it contracted to buy from an independent producer it failed to connect to the grid.
Westinghouse continues Eskom fight
Picture: Business Report

06 October 2014 at 12:53pm
Business Report

Cape Town - Westinghouse Electric Company will continue challenging Eskom's decision to award a R4 billion tender to Areva NP Proprietary, it said on Monday.
BHP, Transnet sign R24bn coal deal
Picture: Business Report

06 October 2014 at 12:46pm
Business Report

Johannesburg - Transnet, South Africa's state-owned ports and rail operator, signed a 10-year, 24 billion-rand coal-haulage deal with miner BHP Billiton to transport the fuel to the country's ports.
PwC gives Waterfall go-ahead to Attacq
06 October 2014 at 12:33pm
Business Report

ATTACQ, the listed capital growth property company, has secured in principle approval for the proposed development of a new 40 000m2 office premises in Waterfall City in Midrand for accounting and auditing firm PwC.
Sanral needs R120bn to fix congestion
Picture: Business Day

06 October 2014 at 12:30pm
Business Report

Johannesburg - South African National Roads Agency needs 120 billion rand to alleviate traffic blockages, said chief executive Nazir Alli, amid a plan to review electronic-toll collections.
Amplats finding solo sales strategy difficult
Picture: Business Report

06 October 2014 at 12:25pm
Business Report

LESS than a year after tearing up a $57 million (R642m) annual supply contract with its main buyer, Anglo American Platinum (Amplats) is struggling to implement a new strategy of selling directly to end-users against a backdrop of weak prices, sources say.
Loss widens at Bonatla as suspension persists
06 October 2014 at 12:22pm
Business Report

BONATLA'S headline loss a share widened to 0.6c in the six months to June from 0.26c in the previous corresponding period, it said yesterday.
RBA raises R7m to relieve severe financial stress
Picture: Business Report

06 October 2014 at 12:18pm
Business Report

RBA HOLDINGS plans to recapitalise its business to relieve the financial stress it has been operating under in recent years.
Still years until new Eskom station works
Picture: Business Report

06 October 2014 at 12:13pm
Business Report

Johannesburg - Eskom, which provides about 95 percent of South Africa's power, may take years to start all six units at its first new power plant in decades, according to a National Planning Commission member.
Watchdog backs Eskom's shock price hike
Picture: Business Report

06 October 2014 at 12:06pm
Business Report

Johannesburg - South African power prices will rise an average 13 percent from April, more than the 8 percent first planned, to help the state-owned utility recover 7.8 billion rand of unbudgeted costs, the regulator said.
Glencore halts Zambia zinc unit over row
Picture: Business Report

06 October 2014 at 12:01pm
Business Report

Johannesburg - Global mining group and commodities trader Glencore said on Friday it was suspending its zinc unit in Zambia and was cutting 169 jobs at the mine amid a row over VAT tax.
Shanduka: Lonmin payments were loans
Picture: Business Report

06 October 2014 at 11:55am
Business Report

Cape Town - Payments Lonmin made to its empowerment partner Incwala in the years leading up to the Marikana shooting were interest-free loans and not dividends, Shanduka said on Friday.
Rail: Thelo seeks a loaded partner
06 October 2014 at 11:47am
Business Report

THELO Rolling Stock Leasing, a South African rail financier, is seeking a partner to buy a 30 percent equity stake and help win new contracts around sub-Saharan Africa. The company was looking for "a strategic equity partner that will lead the company forward", chairman Lumkile Mondi said on Friday.
Anglo platinum mine sales seen boosting metal price
Picture: Business Report

28 September 2014 at 10:14am
Business Report

Johannesburg - Plans by the world's largest platinum-mining company to sell its loss-making operations could be just what the industry needs.
AngloGold U-turn has investors awaiting mine sales
Picture: Business Report

28 September 2014 at 10:05am
Business Report

Johannesburg - AngloGold Ashanti is being pushed to consider asset sales to cut $3.2 billion (R36 billion) of debt as investors sell the South African company's bonds and stock following a botched share sale and spinoff.
Eskom decay threatens SA growth
Picture: Business Report

28 September 2014 at 10:00am
Business Report

Johannesburg - South Africa has an electric bill coming due that's threatening everything from its swimming pools to its sovereign debt.
Group Five: Vemer promoted to chief executive
28 September 2014 at 09:58am
Business Report

ERIC Vemer, a member of Group Five's group executive committee and managing director of its investment and concessions cluster, has been appointed chief executive of the listed construction and engineering group effective from December 1.
Two top Eskom executives resign
Picture: Business Report

28 September 2014 at 09:56am
Business Report

Johannesburg - Two of Eskom's top executives have resigned, the parastatal confirmed on Wednesday.
Lonmin denies tax avoidance claims
Picture: Business Report

28 September 2014 at 09:50am
Business Report

London - Lonmin, the world's third-largest platinum producer, on Tuesday denied reports that it has avoided taxes by shifting funds from its South African operations abroad.
Transnet: Growth not hampering investment
Picture: Business Report

28 September 2014 at 09:42am
Business Report

Johannesburg - Transnet, South Africa's state-owned ports and rail company, will pursue its 312 billion rand seven-year investment program even with an economy set to expand at the slowest pace since the 2009 recession, chief executive Brian Molefe said.
Strikes inflict R100m scar on Scaw
Picture: Business Report

28 September 2014 at 09:38am
Business Report

Johannesburg - The five-month platinum belt strike coupled with the one-month metals strike would cost Scaw Metals R100 million, Ufikile Khumalo, the executive chairman at the integrated steel maker, said last week.
Gordhan's exit as PPC chief shocks market
Picture: Business Report

28 September 2014 at 09:32am
Business Report

Shares in PPC slumped by 7.69 percent to close at R30 yesterday after the listed cement and lime producer shocked the market by announcing the resignation of chief executive Ketso Gordhan.
Transnet agrees deal with Mozambique, Swaziland
Picture: Business Report

28 September 2014 at 09:28am
Business Report

Johannesburg - Transnet, South Africa's state-owned rail operator, agreed to a deal with Mozambique and Swaziland to boost rail co-operation and ease the delivery of coal exports through harbours to India and Brazil.
Lonmin denies evading tax
Picture: Business Report

28 September 2014 at 09:25am
Business Report

Johannesburg - Reports that Lonmin was evading tax were denied by a spokeswoman on Monday, after calls that the company should be investigated.
PPC boss exits after clash with board
28 September 2014 at 09:12 am
Business Report

Johannesburg - The chief executive of cement maker PPC quit abruptly on Monday, with the company citing clashes between him and the board, sending its shares more than 6 percent lower.
FNB: Construction work slows
Picture: Business Report

28 September 2014 at 09:10am
Business Report

Johannesburg - Construction work and overall profit dropped, despite a rise in the civil construction confidence index in the third quarter of 2014, FNB and the Bureau for Economic Research said on Monday.
AngloGold abandons spinoff plan
Picture: Business Report

16 September 2014 at 10:06am
Business Report

Johannesburg - AngloGold Ashanti scrapped plans to raise $2.1 billion (R23 billion) through the sale of shares and split the company after investors opposed the strategy announced by South Africa's largest gold miner only last week.
AngloGold: May sell assets to cut debt
Picture: Business Report

16 September 2014 at 09:59am
Business Report

Johannesburg - AngloGold Ashanti could sell assets to help reduce debt after a shareholder revolt forced it to pull the plug on its plans for a new London-listed company and a $2.1 billion (R23 billion) rights issue, its chief executive said on Monday.
Investec sells R10bn of Irish loans
Picture: Business Report

16 September 2014 at 09:51am
Business Report

London - South African investment bank Investec has sold 540 million pounds (R9.7 billion) of Irish mortgages to US private equity firm Lone Star, marking its second deal this month to get rid of loans it not longer wants.
Revolt ends AngloGold's planned overhaul
Picture: Business Report

16 September 2014 at 09:42am
Business Report

Johannesburg/London - Africa's largest gold producer AngloGold Ashanti has scrapped a planned demerger and rights issue after a shareholder revolt against the overhaul announced five days ago, and might be forced to sell assets to shore up its finances.
DA wants answers on Eskom bailout
Picture: Business Report

16 September 2014 at 09:34am
Business Report

Cape Town - The DA demanded answers from the government on Monday on what its bailout plan for the embattled state electricity utility Eskom will entail.
PPC: SA slowdown hurting cement volume
Picture: Business Report

16 September 2014 at 09:29am
Business Report

Johannesburg - PPC, South Africa's largest cement maker, said slower economic growth and falling infrastructure spending has led to a "particularly tough" domestic market for the company.
Hedge fund a stumbling block for AngloGold share sale
Picture: Business Report

16 September 2014 at 09:21am
Business Report

BILLIONAIRE investor John Paulson is getting in the way of AngloGold Ashanti's plan to rid itself of debt.
Eskom begins Medupi countdown
Picture: Business Report

16 September 2014 at 09:00am
Business Report

Johannesburg - Monday would mark 100 days until the Medupi power station's unit six is powered up, Eskom said.
Paulson clogs AngloGold bid to be debt free
Picture: Business Report

16 September 2014 at 08:52am
Business Report

Johannesburg - Billionaire investor John Paulson is getting in the way of AngloGold Ashanti's plan to rid itself of debt.
Masonite's mill back on line after explosion
16 September 2014 at 08:27am
Business Report

THE ESTCOURT mill of listed softboard and hardboard producer Masonite, which was damaged in an explosion in June, is back on line and operating at about 80 percent of pre-incident levels.
Zuma 'tried to save' Aurora, wants payback
Picture: Business Report

07 September 2014 at 22:00pm
Business Report

Johannesburg - President Jacob Zuma's nephew Khulubuse Zuma will be looking to recover about R35 million that he claims to have lost in the Aurora mining debacle.
Miners eye record iron ore shipments
Picture: Business Report

07 September 2014 at 21:56pm
Business Report

The world's biggest iron ore producers are targeting record shipments as lower output costs offset plunging prices and less competitive mines in China are shut.
BP ruling raises liability stakes
07 September 2014 at 21:53pm
Business Report

New York - A U.S. court ruling that dramatically ramped up BP Plc's potential penalties for the 2010 Gulf oil spill could create new liability risks not just for deep water drillers but also for other industries like mining and nuclear power generation.
Westinghouse abandons Eskom interdict
Picture: Business Report

07 September 2014 at 21:50pm
Business Report

Johannesburg - Westinghouse Electric SA has abandoned its bid to stop Eskom from going into business with French company Areva NP Proprietary, Eskom said on Friday.
Fines may prompt BP to cut Russia exposure
Picture: Business Report

07 September 2014 at 21:47pm
Business Report

London - The prospect of up to $18 billion (R193 billion) in new fines for the 2010 Gulf of Mexico oil spill could encourage BP to sell off some of its Russian interests, which already look at risk of being dragged into a political standoff between Moscow and the West.
Joburg construction fuels office glut
Picture: Business Report

07 September 2014 at 21:42pm
Business Report

Johannesburg - Bhekumuzi Makhubo is the man who puts the boom in Johannesburg office construction.
Court hears Eskom tender application
Picture: Business Report

07 September 2014 at 09:37pm
Business Report

Johannesburg - The High Court in Johannesburg will on Friday hear an urgent application by Westinghouse Electric SA to get documents related to Eskom awarding a R4 billion tender.
African Rainbow profit rises
Picture: Business Report

07 September 2014 at 09:21pm
Business Report

Johannesburg - African Rainbow Minerals, the mining company controlled by billionaire Patrice Motsepe, said full-year profit rose 10 percent after a weaker rand countered lower iron-ore prices.
ArcelorMittal SA, Sasol: Davies calls for lower material prices
07 September 2014 at 09:13pm
Business Report

THE GOVERNMENT would put pressure on steel producer ArcelorMittal South Africa and petrochemicals firm Sasol to reduce prices and help cut input costs in the steel, platinum and polymer industries by up to 15 percent, Trade and Industry Minister Rob Davies said this week.
Losses in suspected China metals fraud top R13bn
Picture: Business Report

31 August 2014 at 02:21am
Business Report

Industrial and Commercial Bank of China, the country's largest bank, suffered a loss of less than $200 million to take a spot among the worst hit banks and trading houses impacted by a suspected fraud at China's Qingdao Port.
Buildmax: Raubex to buy BAQ assets for R55m
31 August 2014 at 02:18am
Business Report

BUILDMAX, the listed open-cast mining contractor and building materials supplier, has agreed to sell certain assets of its subsidiary Buildmax Aggregates and Quarries (BAQ) to listed road construction and rehabilitation company Raubex for R54.76 million
Absa to cover Orkney quake damage
Picture: Business Report

31 August 2014 at 02:14am
Business Report

Johannesburg - Absa will cover claims for damages caused by the recent earthquake in the North West, the bank said on Thursday.
Impala plunges as review casts doubt
Picture: Business Report

31 August 2014 at 02:09am
Business Report

Johannesburg - Impala Platinum declined to the lowest in more than a year after a five-month strike prompted a review of the second-biggest producer's capital projects, raising scepticism over future returns.
Westinghouse challenges Eskom nuclear contract
Picture: Business Report

31 August 2014 at 02:05am
Business Report

Johannesburg - Westinghouse Electric Company said on Thursday it had filed a legal challenge in a South African court to reopen the bidding process for a generator contract awarded to French rival Areva.
Implats embarks on review after strike
Picture: Business Report

31 August 2014 at 01:57am
Business Report

Johannesburg - World number two platinum producer Impala Platinum said on Thursday it had launched a strategic review that could include a shift to mechanisation in the wake of a five-month strike that hit its Rustenburg operations in South Africa.
Impala profit plunges due to platinum strike
Picture: Business Report

31 August 2014 at 02:01am
Business Report

Johannesburg - Impala Platinum has no plan to pay dividends this year after profit by the world's second-biggest producer declined 74 percent following a five-month strike at its biggest operations and lower prices.
M&R focuses on global mining, energy projects
31 August 2014 at 01:54am
Business Report

MURRAY & Roberts (M&R) has set its sights on being a leading international diversified project engineering, procurement and construction group in selected natural resources market sectors by 2020.
Growthpoint, Acucap in merger discussions
31 August 2014 at 01:52
Business Report

FURTHER consolidation in the listed property sector appears imminent, with Growthpoint and Acucap announcing yesterday that they were in discussions.
Basil Read pushed into loss
31 August 2014 at 01:50am
Business Report

CONTRACTUAL difficulties that resulted in a high proportion of work remaining uncertified pushed listed construction group Basil Read into a loss in the six months to June.
Shell sells some Nigerian onshore oil fields
Picture: Business Report

31 August 2014 at 01:48am
Business Report

London/Lagos - Royal Dutch Shell said it had reached deals on some of the four Nigerian oil fields it has offered for sale as the oil major pushes ahead with divesting global assets to cut costs.
Insurers won't pay for quake damage
Picture: Business Report

31 August 2014 at 01:44am
Business Report

Johannesburg - At least five insurers will not pay for damages to houses caused by the recent earthquake that hit the country, according to a study released on Wednesday.
Pay back millions, Aurora managers told
Picture: Business Report

26 August 2014 at 11:47pm
Business Report

Pretoria - The former managers of Aurora Empowerment Systems and some of their family and friends have been ordered to repay over R15 million to the company's liquidators.
PetroSA rethinks Mossel bay gas terminal
Picture: Business Report

26 August 2014 at 11:43pm
Business Report

Johannesburg - Plans to establish a floating liquefied natural gas (FLNG) import terminal in Mossel Bay will no longer be pursued, PetroSA said on Tuesday.
Lonmin: No decision on restructuring
Picture: Business Report

26 August 2014 at 11:39pm
Business Report

London - Platinum producer Lonmin said it has not made a decision on the size and shape of a business restructuring and its immediate aim is to ramp up production after a crippling five-month platinum strike that hit the sector this year.
Lonmin dismisses job cuts reports
Picture: Business Report

26 August 2014 at 11:37pm
Business Report

Johannesburg - Lonmin's board on Tuesday dismissed reports that it will retrench workers at its mines at Marikana, near Rustenburg, North West.
Lonmin wanted to divide and rule: Shabangu
Picture: Business Report

26 August 2014 at 11:34pm
Business Report

Pretoria - Platinum miner Lonmin used divide-and-rule tactics on its workers, former mineral resources minister Susan Shabangu told the Farlam Commission of Inquiry on Tuesday.
Aveng to cut debt after R2.5bn in asset sales
Picture: Business Report

26 August 2014 at 11:28pm
Business Report

Johannesburg - Aveng, South Africa's second-biggest construction company, plans to sell assets worth about 2.5 billion rand to reduce debt and sees earnings improving on higher orders and cost cuts.
Aurora directors prolong miners' misery
Picture: Business Report

26 August 2014 at 11:25pm
Business Report

Johannesburg - While the directors of the liquidated Aurora Empowerment Systems are expected to ask the North Gauteng High Court to postpone the hearing into the multibillion-rand lawsuit against the firm's insolvent estate today, workers continue to live on hand-outs.
Miners' debt up after Amcu strike
Picture: Business Report

18 August 2014 at 10:01am
Business Report

The dust is only just starting to settle following the longest mining strike in South Africa, which lasted five months.
NUM battles to regain relevance
Picture: Business Report

18 August 2014 at 09:50am
Business Report

Rustenburg - After the 34 miners gunned down two years ago and the families they left behind, the National Union of Mineworkers (NUM) is possibly the second biggest casualty of the Marikana massacre.
Amcu to fight Amplats sale
Picture: Business Report

18 August 2014 at 09:44am
Business Report

Rustenburg - Anglo American Platinum (Amplats) should sell its Rustenburg mine to the workers, Amcu leader Joseph Mathunjwa said on Saturday.
BHP Billiton to spin off unwanted assets
Picture: Business Report

18 August 2014 at 09:40am
Business Report

Melbourne - BHP Billiton declared its preference for a demerger of its unwanted aluminium, manganese and nickel assets on Friday, setting the stage for the formation of a separate company that one report said could be worth $14 billion (R148 billion).
Impala Platinum forecasts profit plunge
Picture: Business Report

18 August 2014 at 09:33am
Business Report

Johannesburg - Impala Platinum, the world's second-biggest producer of the metal, said full-year profit declined as much as 75 percent after a five-month strike at its biggest South African operation crippled output.
Transnet raises its iron-ore rail capacity
Picture: Business Report

18 August 2014 at 09:29am
Business Report

Johannesburg - Transnet plans to almost double capacity on its South African iron-ore rail line as the state-owned operator looks beyond a slump in prices for the steelmaking ingredient and bets miners will raise production.
Implats falls, sees sharp drop in profits
Picture: Business Report

18 August 2014 at 09:18am
Business Report

Johannesburg - Shares of South Africa's Impala Platinum fall more than one percent after the mining company says its full-year earnings likely fell by as much as 75 percent after a five-month strike at its Rustenburg operations.
Nampower: Eskom eyes 300MW from Kudu plant
18 August 2014 at 09:02am
Business Report

NAMIBIA Power (NamPower) was in talks to sell as much as 300 megawatts of capacity from its planned Kudu gas-fired plant to Eskom, it said yesterday.
M&R expects big profit rise despite R300m leaks plan
18 August 2014 at 09:00am
Business Report

MURRAY & Roberts (M&R) expects to report significantly higher annual earnings despite making a R300 million provision for its share of the potential costs to solve the Gautrain water ingress problem between Park and Rosebank stations.
Quarterly profit shines at Harmony Gold
18 August 2014 at 08:57am
Business Report

FOURTH-QUARTER profit at Harmony Gold more than doubled from the previous three months after output rose 7 percent, South Africa's third-largest producer of the metal said yesterday.
Northam seeks funds to acquire mines
18 August 2014 at 08:53am

NORTHAM Platinum wanted to snap up platinum assets in a shake-up of the country's mining sector, the company said yesterday as it posted a full-year loss due to a protracted strike at its main operations.
Housing subsidy too high - Sisulu
Picture: Business Report

13 August 2014 at 05:17pm
Business Report

The government subsidy for the top structure for a basic 40m2 social housing unit has rocketed to R154 000 from only R58 000 in 2008/09, prompting a Human Settlements departmental review.
Redefine to buy 28 Macsteel sites for R2.7bn
13 August 2014 at 05:01pm
Business Report

REDEFINE Properties has boosted its exposure to industrial property and secured a better balance of its diversified commercial property holdings by agreeing to acquire a portfolio of 28 industrial properties from steel supplier Macsteel for R2.7 billion.
Numsa 'no longer democratic'
Picture: Business Report

13 August 2014 at 04:55pm
Business Report

Johannesburg - The brains behind the Metal and Allied Workers Union of SA (Mawusa), Cedric Gina, says the National Union of Metalworkers of SA (Numsa) is no longer a democratic union that allows dissenting views.
Bell Equipment: Unrest cuts earnings by more than half
13 August 2014 at 04:40pm
Business Report

LABOUR unrest contributed to the earnings a share of Bell Equipment slumping by 60 percent to 62c in the six months to June from R1.56 in the corresponding period last year. Revenue rose 14 percent to R3.4 billion from R3bn.
Gold Fields: Mining licence not at risk
Picture: Business Report

13 August 2014 at 11:03am
Business Report

Johannesburg - South African gold producer Gold Fields said on Monday it had received a letter from the government expressing concern about its social and labour plans but did not think the licence at its flagship South Deep mine was in jeopardy.
Property: Growthpoint, Arrowhead exposure small
13 August 2014 at 11:00am
Business Report

PROPERTY companies Growthpoint and Arrowhead reported yesterday that they had "insignificant exposure" to African Bank Investments, which applied for business rescue and was subsequently placed under curatorship.
AngloGold reports loss on mine closures
Picture: Business Report

13 August 2014 at 10:54am
Business Report

Johannesburg - AngloGold Ashanti, the world's third-largest producer of the precious metal, swung to a second-quarter loss due to closing costs related to mines in Ghana and Mali.
Unions sign wage deals with Eskom
Picture: Business Report

10 August 2014 at 10:03am
Business Report

Johannesburg - Three major South African unions have signed two-year wage deals with state power utility Eskom, one of the unions said on Friday, averting potential illegal strikes that could have hit power supply in Africa's most advanced economy.
'Mining is backbone of economy'
Picture: Business Report

10 August 2014 at 09:58am
Business Report

Johannesburg - The mining industry is the backbone of the economy, Chamber of Mines chief executive Bheki Sibiya said on Friday.
Harmony Gold takes R1.4bn write down
Picture: Business Report

10 August 2014 at 09:55am
Business Report

Johannesburg - Harmony Gold Mining, South Africa's third-largest producer of the precious metal, decided against expanding its Phakisa mine and will write down the value of the asset by about 1.4 billion rand.
Eskom: First power from new station soon
Picture: Business Day

10 August 2014 at 09:50am
Business Report

Johannesburg - Work is progressing at Eskom's Medupi power station construction site, the parastatal said on Friday.
DRC hiccup takes shine off Randgold profit
10 August 2014 at 09:47am
Business Report

A PRODUCTION hiccup at Randgold Resources's fledgling mine in the Democratic Republic of Congo (DRC) overshadowed a jump in the company's quarterly profit, sending the shares down nearly 2 percent in London.
M&R inks disposal of Tolcon
Picture: Business Report

10 August 2014 at 09:43am
Business Report

MURRAY & Roberts (M&R) has reached agreement to sell its wholly owned Tolcon subsidiary, which operates various toll road and rail concessions throughout South Africa and investments in selected concession companies, including the Gautrain rapid rail system, to an unidentified buyer.
Eskom secures loan for solar power plant
Picture: Business Report

10 August 2014 at 09:39am
Business Report

Johannesburg - South Africa's power utility Eskom has agreed a 75 million euro (R1.076 billion) loan with the European Investment Bank to support its 100 MW concentrating solar power (CSP) plant, the company said on Thursday.
Eskom needs R250bn to avert junk rating
Picture: Business Report

10 August 2014 at 09:36am
Business Report

Johannesburg - South Africa must find 250 billion rand of support for Eskom within weeks to prevent the power producer from being cut to junk and dragging down the country's credit rating, a minister said.
Freedom to benefit from rental demand
10 August 2014 at 09:31am
Business Report

FREEDOM Property Fund has launched several major projects, including two residential property developments, to boost its portfolio of income-generating rental stock.
Anglo American: New processing chief appointed
10 August 2014 at 09:27am
Business Report

ANGLO American has appointed former Lonmin executive Natascha Viljoen as head of processing. Viljoen "is responsible for looking at all of our processing operations around the world from a technical perspective", spokesman Pranill Ramchander said yesterday.
Glencore eyes Guinea's iron ore deposits
Picture: Business Report

10 August 2014 at 09:24am
Business Report

GLENCORE has expressed interest in iron deposits in Guinea, a presentation obtained by Reuters shows, although the company said it had not pitched for a stake in Simandou.
GE to invest R21bn to boost Africa
Picture: Business Report

06 August 2014 at 10:03am
Business Report

Washington - General Electric on Monday pledged to invest $2 billion (R21 billion) in Africa by 2018 to boost infrastructure, worker skills and access to energy, an announcement timed to coincide with a US summit meeting of nearly 50 African leaders.
NUM demands 12% Eskom hike
Picture: Business Day

06 August 2014 at 10:00am
Business Report

Johannesburg - The National Union of Mineworkers handed over a memorandum to Eskom in Johannesburg on Monday demanding a 12 percent across-the-board salary increase.
Lonmin names operating officer
Picture: Business Report

06 August 2014 at 09:45am
Business Report

Johannesburg - Two Lonmin executives who led a recovery in operations from a strike in 2012 have resigned, less than two months after the platinum producer began restoring output at South African mines disrupted by a walkout.
Buildmax: Interest received from third party
Picture: Business Report

06 August 2014 at 09:41am
Business Report

Buildmax's board of directors had received a non-binding expression of interest from a third party to acquire the entire issued share capital of the company, it said on Friday.The identity of the proposed buyer was not disclosed.
ArcelorMittal SA takes steady look at costs
Picture: Business Report

06 August 2014 at 09:38am
Business Report

ArcelorMittal South Africa, which has been under fire for its environmental footprint, intends to overcome its challenges, including fixing the relationship with the government, cutting costs and finding new markets.
Redefine shuffles board and executives
06 August 2014 at 09:33am
Business Report

REDEFINE Properties chief executive Marc Wainer has been appointed executive chairman, replacing former non-executive chairman Dines Gihwala, who resigned in June after being declared a delinquent director by the Western Cape High Court.
Grindrod: Headline earnings set to fall by a third
06 August 2014 at 09:30am
Business Report

Grindrod expected its headline earnings a share for the six months to June to be between 30 percent and 35 percent lower than the 76.2c a share in the previous year, the listed integrated logistics service supplier said on Friday.
Dark days for Eskom
Picture: Business Report

06 August 2014 at 09:24am
Business Report

Johannesburg - It's a slow-motion train wreck happening before our eyes, on a scale so vast it has already stunted the economic growth potential of the country, yet it is only now that the government appears to have fully grasped the danger.
Vavi blasts 'greedy' metals bosses
Picture: Business Report

06 August 2014 at 09:16am
Business Report

Johannesburg - Employers in the engineering and metals sector who refuse to sign a wage settlement are greedy, Congress of SA Trade Unions general secretary Zwelinzima Vavi said on Saturday.
Steel giant eyes big projects
Picture: Business Report

05 August 2014 at 12:28pm
Business Report

Cape Town - Steel maker ArcelorMittal South Africa is pinning its hopes for an end to tough trading conditions on infrastructure development projects, both local and across the sub-continent.
Kumba signs three-year wage deal
01 August 2014 at 10:25am
Business Report

Kumba Iron Ore had signed a three-year deal with trade unions in which staff salaries would be hiked by between 8.5 percent and 10 percent, the mining house said yesterday.
Shareholders of Octodec, Premium approve merger
01 August 2014 at 10:22am
Business Report

THE MERGER between listed property firms Premium Properties and Octodec is set to become effective next month after 100 percent of shareholders of the two firms represented at general meetings yesterday voted in favour of the offer.
PIC sells 8% stake in Growthpoint to Southern Palace
01 August 2014 at 10:18am
Business Report

SOUTHERN Palace Properties, a wholly owned subsidiary of black-owned and managed diversified industrial holding company Southern Palace Group, has acquired a 7.95 percent stake in listed real estate investment trust Growthpoint Properties for about R4.5 billion.
R3bn Pretoria casino approved
Picture: Business Report

01 August 2014 10:12am
Business Report

Johannesburg - South African gambling authorities have given Sun International the green light to build a 3 billion rand entertainment complex in the Pretoria, the casino and hotels operator said on Thursday.
Sibanye eyes Amplats mines
Picture: Business Report

01 August 2014 at 10:03am
Business Report

Johannesburg - Sibanye Gold remains on the hunt for a platinum asset and has Anglo American Platinum's (Amplats) mines in its sights, ready to make a move if the owner decides on either a straight sale or a separate listing for the assets.
Metal employers to maintain lock-outs
Picture: Business Report

01 August 2014 at 09:58am
Business Report

Johannesburg - The National Employers' Association (Neasa) of SA's members will continue their lock-out of workers who participated in the recent metal industry protest, despite threats, it said on Thursday.
Wage deal death for small business
Picture: Business Report

01 August 2014 at 09:53am
Business Report

Johannesburg - The wage agreement in the metals and engineering sector is the death knell for small businesses, the Free Market Foundation said on Wednesday.
Rio Tinto sells Mozambique coal venture
Picture: Business Report

01 August 2014 at 09:43am
Business Report

London - Rio Tinto has agreed to sell coal assets it bought through its $4 billion (R42 billion) acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector.
Only 9% of municipalities get clean audits
Picture: Business Report

01 August 2014 at 09:29am
Business Report

Pretoria - Nine percent of municipalities and municipal entities achieved clean audits in the 2012/2013 audit review, Auditor General Kimi Makwetu said on Wednesday. This was compared to five percent for the previous year.
Anglo might complete platinum sale after 2015
Picture: Business Report

27 July 2014 at 11:23am
Business Report

London - The chief executive of Anglo American dismissed reports that the group is in talks to sell its stake in the Samancor manganese joint venture with BHP Billiton and said it may be too optimistic to expect a sale of its South African platinum assets by 2015.
AngloGold profit hit by Mali, Ghana costs
Picture: Business Report

27 July 2014 at 11:14am
Business Report

Johannesburg - AngloGold Ashanti, the world's third-largest gold producer, said second-quarter profit will be eroded by costs from closing its Yatela mine in Mali and reorganising operations in Ghana.
Sibanye falls on trading update
27 July 2014 at 11:12am
Business Report

Johannesburg - Shares in Sibanye Gold tumble more than 3 percent as the South African gold producer says first-half earnings likely fell as much as 52 percent, hit by an increase in the number of issued shares.
Anglo confident can reach key target
Picture: Business Report

27 July 2014 at 11:09am
Business Report

London - The chief executive of global miner Anglo American said he was still confident the company can reach its target of at least 15 percent return on capital (ROCE) by 2016, despite a decline this year.
Lonmin jumps after production report
Picture: Business Report

27 July 2014 at 11:06am
Business Report

Johannesburg - Johannesburg-listed shares of Lonmin rise more than 5 percent as investors laud the platinum producer's balance sheet, saying it appears in "reasonable shape" following a five-month strike over higher pay.
Lonmin: To hit 80% of output soon
Picture: Business Report

27 July 2014 at 11:04am
Business Report

Johannesburg - South African platinum producer Lonmin will lift production to 80 percent of normal levels by the end of its financial year in September as it recovers from a five-month strike, the company said on Friday.
Lonmin foresees no need to raise funds
Picture: Business Report

27 July 2014 at 10:59am
Business Report

Johannesburg - Lonmin said it foresees no need to raise funds even as a five-month strike in South Africa wiped out cash, reduced third-quarter platinum sales by 68 percent and will raise costs by more than 60 percent for the year.
Anglo American's profit rises
Picture: Business Report

27 July 2014 at 10:55am
Business Report

London - Anglo American said first-half profit rose on higher output and lower production costs at its copper division, as chief executive Mark Cutifani reviews assets to offload underperforming businesses.
Four nabbed for miner's fatal shooting
Picture: Business Report

24 July 2014 01:51pm
Business Report

A miner from Samancor Chrome mine has been shot dead outside a bottle store in Kroondal, near Rustenburg, North West police said on Thursday.

Zimplats: Mines safe after collapse
Picture: Business Report

24 July 2014 at 01:35pm
Business Report

Harare - Zimplats, a unit of Impala Platinum, is confident that its mines are safe as it examines the cause of a collapsed shaft at one of its operations in Zimbabwe, General Manager Simbarashe Goto said.
SA braces for more strikes
Picturre: Business Report

20 July 2014 at 08:33am
Business Report

Johannesburg - The country is likely to see additional strikes next week if parties negotiating wage deals in the metal and engineering sector do not reach a deal soon.
Zimplats: Zim mine's output drops by half
Picture: Business Report

20 July 2014 at 08:30am
Business Report

Sydney - Platinum production at Zimplats' largest mine in Zimbabwe has been halved following a major collapse underground, the company said on Friday.
NUM lauds Bafokeng wage deal
Picture: Business Report

20 July 2014 at 08:26am
Business Report

Johannesburg - The three-year wage settlement that the National Union of Mineworkers (NUM) signed with Royal Bafokeng Platinum (RBP) represents a genuine victory for mineworkers, the union said on Friday.
'No Numsa wage deal'
Picture: Business Report

20 July 2014 at 08:23am
Business Report

Johannesburg - South Africa's engineering employer group on Thursday denied a media report that it has sealed a two-year wage deal with the striking Numsa union.
Numsa to end metals strike
Picture: Business Report

20 July 2014 at 08:20am
Business Report

Johannesburg - The National Union of Metalworkers of South Africa said it would relax its demands and agree on a two-year pay deal with employers as the government oversees renewed talks to end a 17-day manufacturing strike.
Aveng: High demand sees bond raising R2bn
20 July 2014 at 08:17am
Business Report

Aveng, the listed construction and engineering group, launched yesterday a R1.5 billion senior unsecured convertible bond maturing in 2019. After the close of JSE trading yesterday, Aveng said high demand meant it had successfully raised the issue amount to R2bn.
Cosatu: NUM denied Impala access
Picture: Business Report

15 July 2014 at 04:30am
Business Report

Johannesburg - National Union of Mineworkers (NUM) members were being denied access to Impala Platinum (Implats) operations in the North West, Cosatu said on Monday.
'Numsa promotes socialist agenda'
Picture: Business Report

15 July 2014 at 04:26am
Business Report

Johannesburg - The National Union of Metalworkers of SA (Numsa) is promoting a militant socialist agenda through the metal sector strike, the National Employers Association of SA (Neasa) said on Monday.
Numsa to intensify its strike
Picture: Business Report

15 July 2014 at 04:22am
Business Report

Johannesburg - The National Union of Metalworkers of SA (Numsa) had no option but to intensify its strike, its general secretary, Irvin Jim, said yesterday.
Debt squeezes Eskom finances
15 July 2014 at 04:16am
Business Report

Eskom's financial sustainability is under pressure, which has forced the power utility to approach the National Energy Regulatory of SA to increase tariffs and approach the government for more funding. Its debt stands at R255 billion.
'Power fee must reflect costs to close gap'
Picture: Business Day

15 July 2014 at 04:13am
Business Report

Johannesburg - Eskom, the utility that won half the power-price increase it sought for the five years to 2018, wants tariffs to mirror costs, so that it can stem a revenue gap and prevent higher debt servicing expenses.
R81m Cape Town stadium delayed
Picture: Business Report

15 July 2014 at 04:09am
Business Report

Cape Town - Completion of the R81 million Green Point Athletics Stadium has been delayed for almost a year because the city has been forced to cancel the construction contract with Filcon Projects - an embattled construction company which has filed for business rescue.
Holcim, Lafarge list asset sales for merger
Picture: Business Report

09 July 2014 at 11:38pm
Business Report

Holcim and Lafarge, seeking competition approval for a planned $40 billion (R430bn) merger, outlined an initial list of assets for sale to cut the importance of Europe to 20 percent of combined revenue at the two biggest cement makers.
Telecoms: Dark Fibre Africa raises R3.5bn
09 July 2014 at 11:35pm
Business Report

Dark Fibre Africa had entered into a refinancing agreement with a syndicate of lenders to source R3.5 billion of corporate debt facilities to replace project finance funding and invest in new infrastructure in order to meet the growing demand for fibre-optic infrastructure across South Africa, the company announced yesterday.
Coal mine hit with fine
Picture: Business Report

09 July 2014 at 11:26pm
Business Report

A large coal mine on the western boundary of KwaZulu-Natal's Hluhluwe-Imfolozi Game Reserve has been fined nearly R500 000 for operating illegally for almost 10 years, and now hopes to carry on operating.
'NUM not losing members'
Picture: Business Report

09 July 2014 at 11:22pm
Business Report

Johannesburg - The National Union of Mineworkers (NUM) is not at risk of losing members at Impala Platinum's Marula mine in Limpopo following a wildcat strike, general secretary Frans Baleni said on Tuesday.
Fears over estuary sand mining
09 July 2014 at 11:14pm
Business Report

Durban - Two of KwaZulu-Natal's top estuary experts have voiced "astonishment" over the government's decision to allow sand mining on the edge of the Mpenjati River nature reserve, the province's only legally protected estuary south of Durban.
Interview: Funds no issue as Sibanye hunts for platinum
Picture: Business Report

07 July 2014 at 09:10am
Business Report

Sibanye Gold had been in talks with almost all of the major platinum producers in its quest to buy an asset in the sector this year and could easily raise the money to fund such a deal, its chief executive said on Friday.
Exxaro Resources: Miner dies in rock fall at Arnot colliery
07 July 2014 at 09:07am
Business Report

A miner had been killed on Saturday during a rock fall at the Arnot coal mine of Exxaro Resources in Mpumalanga, the National Union of Mineworkers (NUM) said.
Labour minister meets strikers, bosses
Picture: Business Report

06 July 2014 at 10:32am
Business Report

Johannesburg - As factory doors remained shut on Friday, Labour Minister Mildred Oliphant met with striking metalworkers to push towards a settlement to resolve the week-long strike that has crippled the metals and steel sector.
Strike at Implats mine: report
Picture: Business Report

06 July 2014 at 10:27am
Business Report

Johannesburg - Around 2000 mineworkers from Impala's Platinum Marula mine in Limpopo went on strike on Friday, Eyewitness News reported.
Sibanye: Can raise $1bn for platinum foray
Picture: Business Report

06 July 2014 at 10:23am
Business Report

Westonaria - Sibanye Gold has been in talks with almost all of the major platinum producers in its quest to buy an asset in the sector this year and can easily raise the money to fund such a deal, its chief executive said on Friday.
Impala: 2,000 workers strike at Marula mine
Picture: Business Report

06 July 2014 at 10:17am
Business Report

Johannesburg - About 2,000 workers affiliated with South Africa's National Union of Mineworkers (NUM) went on strike at Impala Platinum's Marula mine on Friday demanding higher wages, a company spokesman said.
Mines minister nails Amcu at NUM meet
Picture: Business Report

06 July 2014 at 10:13am
Business Report

Johannesburg - Efforts to broker peace in in the country's troubled platinum belt took a knock yesterday when newly appointed Mineral Resources Minister Ngoako Ramatlhodi attacked mining union Amcu, accusing it of being part of a plot to "destroy the revolution".
Court prohibits Eskom strike
Picture: Business Report

02 July 2014 at 06:48am
Business Report

Johannesburg - Eskom has obtained an interdict barring its workers from going on strike, the electricity supplier said on Tuesday.
Numsa strike hits work at Eskom
Picture: Business Day

02 July 2014 at 06:43am
Business Report

Johannesburg - South Africa construction firm Murray & Roberts said on Tuesday a strike by more than 220,000 engineering and steel workers has halted work on parts of two crucial Eskom power stations.
Gauteng top in building plans passed
02 July 2014 at 06:39am
Business Report

Cape Town - Municipalities in Gauteng recorded the highest value of building plans passed in 2013, but other metros are fast catching up, Statistics SA said on Tuesday.
Vavi: Numsa strike is political
Picture: Business Report

02 July 2014 at 06:36am
Business Report

Johannesburg - The strike by thousands of metalworkers across the country is a political fight for a living wage, Cosatu general secretary Zwelinzima Vavi said on Tuesday.
Cosatu, NUM back Numsa strike
Picture: Business Report

02 July 2014 at 06:33am
Business Report

Johannesburg - The NUM and trade union federation Cosatu said on Tuesday they support the national strike by the National Union of Metalworkers of SA (Numsa).
Transnet profit rises 25%
Picture: Business Report

01 July 2014 at 07:29am
Business Report

Johannesburg - Transnet said annual profit rose 25 percent as South Africa's state-owned rail and ports operator boosted revenue from transporting minerals.
Amplats falls on mines review
Picture: Business Report

01 July 2014 at 07:26am
Business Report

Johannesburg - Shares of Anglo American Platinum fall after world's top platinum producer says it is reviewing options for its Rustenburg operations in South Africa, which were hit by a crippling five-month strike that ended last week.
Transnet to spend more on expansion
Picture: Business Report

01 July 2014 at 07:21am
Business Report

Johannesburg - South Africa's logistics group Transnet said on Monday it has raised the money it needed for plans to expand railways, ports and pipelines in Africa's most advanced economy.
'Youth wage subsidy not only remedy'
Picture: Business Report

01 July 2014 at 07:14am
Business Report

Johannesburg - The youth wage subsidy is not the only remedy for youth unemployment, Deputy Minister of Performance and Monitoring in the Presidency Buti Manamela said on Monday.
Citigroup: Numsa strike imperils economy
Picture: Business Report

01 July 2014 at 07:09am
Business Report

Johannesburg - A scheduled strike tomorrow by 220,000 members of a South African metalworkers' union could cripple the economy because the industries at risk comprise about four percent of the gross domestic product, Citigroup said.
WBHO: CSS issues to hit earnings
01 July 2014 at 07:03am
Business Report

Wilson Bayly Holmes Ovcon (WBHO) had impaired the value of its Mozambican pipe mill, Capital Star Steel (CSS), which would affect the group's earnings a share, the company said on Friday.
Mzi Khumalo faces auction of assets
Picture: Business Report

01 July 2014 at 07:00am
Business Report

Johannesburg - Reclusive mogul Mzi Khumalo faces yet another attempt to auction his prized local assets following the South Gauteng High Court's dismissal of his bid to appeal a judgment ordering him to pay his Lebanese partner, Pierre Fattouch, more than R53 million.
Seifsa serves lockout notice
01 July 2014 at 06:54am
Business Report

Johannesburg - The Steel and Engineering Industries Federation of SA (Seifsa) on Friday served notice of a lockout at its 23 members' premises, trade union Solidarity said.
DA welcomes end of strike
Picture: Business Report

24 June 2014 at 11:56pm
Business Report

Johannesburg -
The end of the five-month platinum strike was welcomed by the Democratic Alliance and the Media Workers Association of South Africa (Mwasa) on Monday evening.
Amcu to sign deal to end 5-month strike
Picture: Business Report

24 June 2014 at 11:52pm
Business Report

Johannesburg - The three largest platinum companies and the main union at their local mines will today sign a deal to end a crippling five-month strike after the labour group's members accepted pay proposals from producers.
Group Five: Mandela hospital deal worth R400m
Picture: Business Report

24 June 2014 at 11:48pm
Business Report

Listed construction and engineering company Group Five has been awarded the contract worth about R400 million to build the Nelson Mandela's Children Hospital in Parktown, Johannesburg.
Raubex: Zambia road revamp contract clinched
24 June 2014 at 11:44pm
Business Report

Raubex had been awarded a 540 million Zambian kwacha (R946m) contract to upgrade roads in Zambia, the construction company said yesterday.
France secures Alstom stake option
Picture: Business Report

23 June 2014 at 07:58am
Business Report

Paris - France won an option to buy 20 percent of Alstom from construction group Bouygues on Sunday, in an eleventh-hour deal clearing the way for the agreed sale of Alstom's energy business to General Electric.
Platinum talks constructive, say producers
Picture: Business Report

23 June 2014 at 07:53am
Business Report

Johannesburg - Talks aimed at resolving the five-month Amcu strike in the platinum sector were constructive, the platinum producers said on Saturday.
Now Sibanye eyes platinum mines
23 June 2014 at 07:49am
Business Report

Johannesburg - Sibanye Gold is considering buying platinum mines, a spokesman said on Friday.
Eskom disputes pollution report
Picture: Business Day

20 June 2014 at 00:32am
Business Report

Johannesburg - Eskom on Friday disputed a report that air pollution from two of its coal power stations caused the deaths of 17 people yearly.
Eskom: Power grid stable
Picture: Business Day

20 June 2014 at 00:28am
Business Report

Johannesburg - The national power grid was stable on Friday and would remain stable over the weekend, Eskom said.
Amcu, platinum mines try to end strike
Picture: Business Report

20 June 2014 at 00:24am
Business Report

Johannesburg - Meetings between platinum producers and the Association of Mineworkers and Construction Union (Amcu) aimed at ending the five-month-old strike in the sector were continuing on Friday.
Eskom rating downgraded
20 June 2014 at 00:17am
Business Report

Johannesburg - Eskom has noted the downgrading of its credit rating by the Fitch ratings agency, the company said on Friday.
GE reshapes Alstom offer
20 June 2014 at 00:14am
Business Report

Paris - General Electric revised its bid for the power arm of Alstom on Thursday, offering alliances in energy and rail to appease the French government and beat a rival proposal by Siemens and Mitsubishi Heavy Industries.
Opposition to new law is growing, says expert
Picture: Business Report

20 June 2014 at 00:07am
Business Report

The new mineral resources law, which awaits the president's signature, faces growing opposition as the mines minister seeks a review, according to law firm Webber Wentzel.
Machine sales drop as mines cut costs
20 June 2014 at 11:56pm
Business Report

Caterpillar's retail machine sales steeply declined in Asia as miners continued to cut spending, the maker of construction equipment said yesterday.
Leviev eyes Namibia's phosphate
20 June 2014 at 11:54pm
Business Report

Leviev Group expected project finance to cover about three quarters of a 20 billion Namibian dollar (R20bn) plan to mine phosphates from the Atlantic Ocean floor off the coast of Namibia, the company.
Circle makes Morocco gas discovery
Picture: Business Report

20 June 2014 at 11:48pm
Business Report

Rabat - Circle Oil has found natural gas on three levels after drilling within the Sebou onshore permit, Morocco's Office of Hydrocarbons and Mining said on Thursday.
Worsening DRC project continues to burden Protech
20 June 2014 at 11:41pm
Business Report

The performance of the project in the Democratic Republic of Congo (DRC) that plunged Protech Khuthele into a financial crisis have continued to worsen since the listed civil engineering group voluntarily applied to be placed in business rescue at the end of last month.
Invicta Holdings: Revenue rises 38% during tough year
18 June 2014 at 04:57pm
Business Report

Invicta Holdings increased its operating profit by 18 percent in the year to March to R1.04 billion, the investment management company said yesterday.
Murray & Roberts: Water division wins contract in Ghana
18 June 2014 at 04:51pm
Business Report

Murray & Roberts Water, in partnership with technology provider Miwatek, has been awarded a contract by a blue chip mining client in Ghana to undertake basic engineering design and pilot testing at one of its operations.
Germany earmarks R5.9bn for South African development projects
14 June 2014 at 09:25am
Business Day

THE German government has committed €414,26m (about R5.9bn) for development projects in South Africa.
Murray & Roberts starts Ghana project
Picture: Business Report

14 June 2014 at 09:17am
Business Report

Johannesburg - Murray & Roberts Water and technology partner Miwatek are undertaking engineering design and pilot testing of a mine-water treatment facility at an undisclosed mining company in Ghana.
Freedom IPO adds to listed property sector on JSE
14 June 2014 at 09:13am
Business Day

FREEDOM Property Fund made its debut on the JSE on Thursday.The new listing is eyeing R5bn worth of residential developments and R1bn worth of industrial projects over the coming years.
Amcu accepts wage offer 'in principle'
Picture: Business Report

14 June 2014 at 09:10am
Business Report

Johannesburg - Amcu has accepted a new wage offer from platinum miners in principle, but outstanding issues remain, the union said on Friday.
Protech halts trade, secures rescue plan
Picture: Business Report

14 June 2014 at 09:05
Business Report

Trading in the shares of Protech Khuthele were suspended on the JSE yesterday at the request of the engineering group.
'Power cuts unlikely this weekend'
14 June 2014 at 09:00am
Business Report

Johannesburg - Power cuts are unlikely over the weekend, Eskom said on Friday.
Transnet lifts Ngqura lockout
Picture: Business Report

10 June 2014 at 09:55pm
Business Report

Johannesburg - Transnet has temporarily lifted its lockout at the Ngqura Container Terminal so striking workers who wanted to return to work could do so, the company said on Tuesday.
Deal with Boskalis ends one of M&R's big claims
Picture: Business Report

10 June 2014 at 09:31pm
Business Report

Johannesburg - Murray & Roberts (M&R), the listed construction and engineering group, has reached a financial settlement with Boskalis Australia over its major claim related to the Gorgon Pioneer materials offloading facility.
Platinum miners mull their options
Picture: Business Report

10 June 2014 at 09:26pm
Business Report

Johannesburg - The world's largest platinum producers said they will consider what steps they can take to end a 20-week pay strike after government-brokered talks with the union leading the walkout ended in failure.
Minister to brief media on platinum talks
Picture: Business Report

10 June 2014 at 09:22pm
Business Report

Johannesburg - Mineral Resources Minister Ngoako Ramatlhodi will hold a press briefing on Tuesday, following his withdrawal of the inter-governmental task team from the platinum talks.
Eskom: Medupi operating by early 2015
Picture: Business Report

07 June 2014 at 06:39am
Business Report

Johannesburg - South Africa's Eskom expects to have the first unit of its Medupi power plant operating by early next year, the utility said on Thursday, as it races to ease tight supply and keep the lights on in Africa's most advanced economy.
Steel giant 'not subject to Numsa strike threat'
Picture: Business Report

07 June 2014 at 06:34am
Business Report

ArcelorMittal South Africa is being dealt with separately by the National Union of Metalworkers of SA (Numsa), which has threatened a strike in the metals and associated engineering sectors.
Sasol slapped with R534m fine
07 June 2014 at 06:30am
Business Report

Johannesburg - Sasol was slapped with a hefty R534 million fine by the Competition Tribunal yesterday for charging local customers high prices for key chemical ingredients, a move hailed by the government and industry players as a significant step in preventing anti-competitive behaviour in business.
Billiton sees rising iron ore demand
07 June 2014 at 06:26am
Business Report

BHP Billiton, the largest mining company, sees steel production in China increasing to 1.1 billion tons in the next 10 years as urban development drives long-term demand.
Power system to remain tight, says Eskom
Picture: Business Day

07 June 2014 at 06:18am
Business Report

Johannesburg - South Africa's power system will remain vulnerable during winter, acting Eskom CEO Collin Matjila said on Thursday.
Eskom bosses forfeit bonuses
Picture: Business Report

07 June 2014 at 06:12am
Business Report

Johannesburg - Thirty of Eskom's executives will be forfeiting their annual performance bonuses this year. The power utility said it would only disclose how much these bonuses would have amounted to when it announced its annual results.
JSE to house Freedom Property Fund
07 June 2014 at 06:08am
Business Report

Freedom Property Fund, which has a diverse R1.56 billion property portfolio with a strong weighting in selective residential property, expects to list on the main board of the JSE next week.
Lafarge to merge SA, Nigeria units
Picture: Business Report

04 June 2014 at 09:14am
Business Report

Lagos - French cement maker Lafarge will combine its South Africa business with publicly traded Nigerian unit Lafarge Wapco, listing its Africa interests together on the Lagos bourse, its country chief executive officer said on Tuesday.
Nigeria alters cement rules to curb collapses
04 June 2014 at 09:09am
Business Report

Nigeria has introduced new rules for the production and use of cement to lower the risk of building collapses, threatening local profit margins at the country's biggest international producer, Lafarge.
Glencore: Union fights job cuts at Namibia mine
04 June 2014 at 09:06am
Business Report

Glencore would cut a fifth of the full-time posts at its Rosh Pinah zinc and lead mine in Namibia, the commodities supplier said yesterday. A miners' union is opposing the retrenchments.
Nearly 500 workers strike at Group Five
Picture: Business Report

03 June 2014 at 10:29pm
Business Report

Johannesburg - Nearly 500 members of the National Union of Mineworkers have gone on strike at building firm Group Five for higher wages and reduced hours, the union said on Tuesday, the latest labour unrest to hit the local economy.
Impala's Zim unit to build new mine
03 June 2014 at 10:25pm
Business Report

Johannesburg - Zimplats Holdings, a unit of the second-largest platinum producer, will begin developing a mine in Zimbabwe next month to replace output from depleting shafts.
Glencore to cut jobs in Namibia
Picture: Business Report

03 June 2014 at 22:20pm
Business Report

London - Global mining and commodity trading company Glencore said it was cutting 124 jobs, or about 20 percent of the staff, at its Rosh Pinah zinc and lead mine in Namibia to control costs.
Stock bleeds as Protech applies for business rescue
Picture: Construction SA

03 June 2014 at 10:22pm
Business Report

Shares in Protech Khuthele dropped 15.79 percent to close at 16c on the JSE yesterday after the listed civil engineering group reported on Friday that it had voluntarily applied to be placed in business rescue.
Ivanhoe Mines: SA grants right to dig platinum
03 June 2014 at 10:08pm
Business Report

Ivanhoe Mines had received state approval to start building a platinum mine in South Africa, the mining developer founded by billionaire Robert Friedland said yesterday. The Vancouver-based firm said:
Amcu case struck off the roll
Picture: Business Report

03 June 2014 at 10:27am
Business Report

Johannesburg - An urgent court application by the Association of Mineworkers and Construction Union (Amcu) was struck off the roll in the Labour Court in Johannesburg on Monday.
SACP issues warning to mine companies
Picture: Business Report

03 June 2014 at 10:23am
Business Report

Also present was Cronin's Public Works boss, Thulas Nxesi, and the party's national chairman, Senzeni Zokwana, the Minister of Agriculture, Forestry and Fisheries.
Atlantic Leaf: Plan to acquire remaining shares
03 June 2014 at 10:14am
Business Report

Atlantic Leaf, the property company listed on the Mauritius Stock Exchange (SEM) with a secondary listing on the JSE's Alternative Exchange, had decided to exercise the option it had to acquire the remaining 40 percent shareholding in Seahawk Investments it did not own, it said on Friday.
Protech applies to be rescued
Picture: Construction SA

03 June 2014 at 10:11am
Business Report

Listed civil engineering group Protech Khuthele, which at the 11th hour last month postponed the release of its financial results for the year to February, has voluntarily applied to be placed in business rescue.
'Allegations have no bearing on Eskom boss'
Picture: Business Report

03 June 2014 at 09:48am
Business Report

Johannesburg - Allegations of maladministration against Eskom's acting chief executive Collin Matjila have no bearing on his new job, the power utility said on Friday.
State pension fund boss resigns
Picture: Business Report

03 June 2014 at 09:39am
Business Report

Johannesburg - The chief executive of South Africa's government pension fund has resigned, the fund said on Friday, after three years at the helm of the continent's largest and most influential asset manager.
Amcu, platinum mines mull proposal
Picture: Business Report

03 June 2014 at 09:30am
Business Report

Johannesburg - South Africa's new mining minister is unlikely to succeed where others failed and bring a swift end to the four-month strike at the world's biggest platinum producers, said analysts at Investec and Noah Capital Markets.
Platinum mines welcome court ruling
Picture: Business Report

03 June 2014 at 09:27am
Business Report

Johannesburg - Platinum producers have welcomed a Labour Court decision to strike off the roll an Amcu application against companies directly approaching striking workers.
No swift end to platinum strike
Picture: Business Report

30 May 2014 at 05:05pm
Business Report

Johannesburg - South Africa's new mining minister is unlikely to succeed where others failed and bring a swift end to the four-month strike at the world's biggest platinum producers, said analysts at Investec and Noah Capital Markets.
'Business debt stress down'
30 May 2014 at 04:59pm
Business Report

Cape Town - Debt stress among businesses fell for the third consecutive quarter, reveals the Experian Business Debt Index (BDI) released on Thursday.
Eskom: Koeberg unit 2 returns to service
Picture: Business Report

27 May 2014 at 09:03am
Business Report

Johannesburg - South African state-run power utility Eskom said its second unit at the Koeberg plant was back in commission but that electricity supply would remain tight over the next few days.
Protech Khuthele: Audit delays release of annual results
Picture: Construction SA

27 May 2014 at 09:00am
Business Report

Publication of Protech Khuthele's annual financial results had been delayed, the listed civil engineering group reported on Friday. The company had been scheduled to release audited results for the year to February today.
$19bn PNG project makes first shipment
Picture: Business Report

27 May 2014 at 08:56am
Business Report

Sydney - The first shipment of liquefied natural gas from a landmark US$19 billion project in Papua New Guinea has left for Japan, US oil giant ExxonMobil said Monday.
Local threats halt Modikwa drilling
Picture: Business Report

27 May 2014 at 08:50am
Business Report

Johannesburg - African Rainbow Minerals Ltd., controlled by South African billionaire Patrice Motsepe, said a drilling program at Modikwa platinum mine was stalled after contractors were threatened by local opponents of the project.
Stefanutti, black owners link up
Picture: Construction SA

27 May 2014 at 08:45am
Business Report

Stefanutti Stocks has embarked on an active drive to ensure a sizeable percentage of work it priced was in joint ventures with black-owned companies to grow and develop them into competent contractors.
Platinum strike talks continue
Picture: Business Report

27 May 2014 at 08:39am
Business Report

Rustenberg - Labour court-facilitated talks aimed at resolving the over four-month-old wage strike in the platinum mining sector continued at an undisclosed location in Johannesburg on Monday.
Stefanutti scales down in Botswana
Picture: Construction SA

27 May 2014 at 08:35am
Business Report

Listed construction company Stefanutti Stocks has scaled down its operations in Botswana because its order book in that country has been dented by intense competition from Chinese contractors.
ArcelorMittal SA: Former Eskom director is new chief
27 May 2014 at 08:32am
Business Report

ArcelorMittal South Africa has appointed Paul O'Flaherty, a former financial director at Eskom, as chief executive of the continent's biggest steel maker. He would start on July 1, taking over from Hans Rosenstock, who had been acting chief executive since February 18, when Nonkululeko Nyembezi-Heita resigned, the Vanderbijlpark-based company said yesterday. Rosenstock would revert to his role as chief operations officer.
Investors dump Esor after warning of earnings loss
Picture: Construction SA

21 May 2014 at 10:06am
Business Report

Listed civil engineering group Esor fell more than 40 percent on the JSE yesterday on news that it expected to report a loss in earnings in the year to February, primarily because of losses totalling R166 million on three contracts.
Local cement market flooded, says PPC
Picture: Business Report

21 May 2014 at 10:01am
Business Report

Johannesburg - Cement and lime producer PPC is cautiously optimistic about the roll-out of the government's multibillion-rand infrastructure expenditure programme but believes the domestic cement market is oversupplied.
Lawyers for Anglo American Platinum, Lonmin, and Impala Platinum and those for the Association of Mi
Picture: Business Report

21 May 2014 at 09:57am
Business Report

Harare - Zimbabwe's economic slowdown has hit the construction industry, with PPC saying yesterday that "in-country liquidity constraints" had led to a cooling in cement demand.
Platinum strike talks make no progress
Picture: Business Report

21 May 2014 at 09:50am
Business Report

Johannesburg - Mediation talks between parties in the platinum mining sector continued in the Labour Court in Johannesburg on Tuesday.
Glencore Xstrata: Lower exposure to iron ore 'a boon'
Picture: Construction SA

21 May 2014 at 09:45am
Business Report

Glencore Xstrata billionaire chief executive Ivan Glasenberg believes the company's reduced risk from falling iron ore prices sets it apart from rivals BHP Billiton, Rio Tinto and Vale.
AfDB plans $10bn infrastructure fund
20 May 2014 at 02:28pm
Business Report

Kigali - The African Development Bank (AfDB) is stepping up plans to finance power and rail projects as China boosts lending on the continent by half.
Barloworld keen on sub-Saharan farming
20 May 2014 at 14:25pm
Business Report

Barloworld is excited about the growth prospects in agriculture in sub-Saharan Africa and is looking to grow the territories where it represents Massey Ferguson agricultural products.
Diversifying a success for Buildmax
20 May 2014 at 02:21pm
Business Report

Johannesburg - Listed opencast mining contractor and building materials supplier Buildmax aims to continue to grow organically and through acquisitions.
Resilient: Rights offer to raise R1bn oversold
20 May 2014 at 02:17pm
Business Report

Resilient, the listed property income fund, reported yesterday that its rights offer to raise R1 billion was significantly oversubscribed. The fund announced the rights offer on April 25 for a total of 19.2 million Resilient linked units at an issue price of R52 each.
Visual International: AltX listing set down for Friday
20 May 2014 at 02:13pm
Business Report

Visual International Holdings, a property development firm that develops complete, self-contained suburbs for the middle-income market, will list on the JSE's AltX on Friday.
PPC: Profits rise on African sales
Picture: Business Report

20 May 2014 at 02:10pm
Business Report

Johannesburg - PPC, South Africa's largest cement maker, said first-half profit advanced 52 percent as the company consolidated foreign units and improvements in exports counteracted declining domestic sales.
African Development Bank steps up funding
Picture: Business Report

19 May 2014 at 09:50pm
Business Report

Johannesburg - The African Development Bank is stepping up plans to finance power and rail projects as China boosts lending on the continent by half.
Barloworld profit up on unit sale
Picture: Business Report

19 May 2014 at 09:46pm
Business Report

Johannesburg - Barloworld, a South African distributor of Caterpillar's construction machinery, said first-half earnings surged 72 percent, boosted by profit arising from the disposal of a motor-retail unit in Australia.
Amcu: Minerals must benefit citizens
Picture: Business Report

19 May 2014 at 09:43pm
Business Report

Johannesburg - The minerals of South Africa should benefit its citizens first before it is moved to other countries, Amcu president Joseph Mathunjwa said on Monday.
Amcu leader's life of luxury
Picture: Business Report

19 May 2014 at 09:39pm
Business Report

Johannesburg - The miners he represents are starving. Some are malnourished, and they can't take the medication for their chronic and life-threatening diseases.
ArcelorMittal: Zimbabwe Alloys targeted
19 May 2014 at 09:35pm
Business Report

The biggest steel maker, ArcelorMittal, was considering an offer for Zimbabwe Alloys Chrome, an insolvent ferrochrome producer seeking investors, an insider said last week. ArcelorMittal officials would visit the company in the next two weeks and carry out a due diligence, said the person, who asked not to be identified.
Lonmin weighs options to end strike
Picture: Business Report

19 May 2014 at 09:28pm
Business Report

Johannesburg - Lonmin will "examine all legal options" to break a 17-week strike that's crippled most South African operations of the world's three biggest platinum producers, chief executive Ben Magara said.
Lonmin fires 235 workers
Picture: Business Report

19 May 2014 at 09:25pm
Business Report

Johannesburg - Lonmin has dismissed 235 essential services workers, the company said on Monday. "These are employees who have been absent since January 23, so the recent intimidation does not explain their absence," spokesman Happy Nkhoma said.
Amplats CEO sorry for 'fair pay' comments
Picture: Business Report

19 May 2014 at 09:22pm
Business Report

Johannesburg - Anglo American Platinum CEO Chris Griffith on Friday apologised for the comments he made to the Business Day newspaper earlier this week justifying his salary.
Joburg Find & Fix app aims to make potholes history
Picture: Business Day

15 May 2014 at 10:52pm
Business Day

A COUPLE of taps on a cellphone is all it will take Johannesburg motorists to report potholes or faulty traffic lights with the city's roads agency's Find & Fix smartphone app.
Eskom sounds alarm over 'severely constrained' power system
Picture: Business Day

15 May 2014 at 10:46pm
Business Day

ESKOM issued a stern warning on Thursday for consumers to participate in an "urgent" switch-off of electrical heaters, geysers, pool pumps and all nonessential appliances, as the power system is "severely constrained".
Mamba Cement to build new plant in Limpopo
Picture: Business Day

15 May 2014 at 10:30pm
Business Report

South Africa's cement market is set for even fiercer competition with the entrance of the Jidong Development Group, one of the largest enterprises in China's building materials industry and one of the world's top five cement groups.
Century City undergoing R4.3bn development
Picture: Business Day

15 May 2014 at 10:15pm
Business Day

CENTURY City, the mixed-use precinct anchored by mega-mall Canal Walk near Milnerton in Cape Town, is undergoing a R4.3bn development boom, which will expand the live, work, stay, shop and play hub by 25%.
Eskom seeks to hike power prices
Picture: Business Day

15 May 2014 at 10:07pm
Business Report

Cape Town - Eskom will know by the end of the month whether it needs to increase its electricity tariffs, it said on Thursday.
Lonmin: Attendance at mines to rise
Picture: Business Report

15 May 2014 at 10:02pm
Business Report

Johannesburg - Lonmin, the world's third-largest platinum producer, said it expects attendance to increase once employees are confident it's safe to report for duty.
Sanral offers Gauteng road users a carrot
Picture: Business Day

15 May 2014 at 09:55pm
Business Day

THE South African National Roads Agency (Sanral) and the Department of Transport hope to persuade more Gauteng road users to register for e-tags by promising to exempt them from paying higher tariffs.
TNPA shares latest plans to transform main ports
Picture: Independent News

14 May 2014 at 03:13pm
Business Report (Londiwe Buthelezi)

An additional berth for junior coal exporters in Richards Bay, acquisition of land to expand the ports of Richards Bay and Durban, and the possibility of erecting liquefied natural gas (LNG) facilities in some commercial ports are the latest additions to Transnet's harbour plans.
Raubex eyes further purchases this year
Photo: Supplied by Independent News

14 May 2014 at 03:04pm
Business Report ( Roy Cokayne)

Johannesburg - Raubex has acquired majority stakes in two family-owned businesses and anticipates making further acquisitions in its current financial year. The listed road construction and rehabilitation company is also targeting expanding its presence in Africa.

Arrowhead aims for target of R2bn in residential property
14 May 2014 at 14:58pm
Business Report (Roy Cokayne)

Arrowhead, the listed property company, has set itself a target of increasing the value of its residential portfolio to R2 billion in the next 18 months from R150 million in March.
Calgro sees growth in African markets
14 May 2014 at 14:49pm
Business Report (Roy Cokayne)

Johannesburg - Calgro M3 Holdings, the listed affordable housing company, anticipates further growth into the African market after making its first venture beyond South Africa's borders into Namibia.
Eskom eyes the rest of Africa
14 May 2014 at 02:41pm
Business Report (Sapa)

Cape Town - Eskom has its eyes on ensuring sub-Saharan Africa is connected to a power grid, an official said on Tuesday.
EFF to donate R50 000 to strike fund
Picture: Thobile Mathonsi

14 May 2014 at 02:03pm
Business Report(SAPA)

Johannesburg - The EFF plans to donate R50,000 to the Association of Mineworkers and Construction Union's (Amcu) strike fund, the party said on Tuesday.
Police deployed to platinum belt
14 May 2014 at 01:59pm
Source: Business Report (Reuters)

Johannesburg - South African police deployed additional officers to the platinum belt on Tuesday to protect miners returning to work this week, a police spokesman said, as producers pushed ahead with plans to end the country's longest and most costly strike.
Lonmin to reopen mines amid attacks
Picture: Reuters

14 May 2014 at 01:53pm
Source: Business Report

Johannesburg - Lonmin said it will push ahead with plans to break a 15-week strike tomorrow by reopening mines even as at least four people were killed in South Africa's platinum belt over the last four days.
Mozambique to open bidding for coal licenses
12 May 2014 at 22:43pm
Source: Business Report (Reuters)

Johannesburg - Mozambique will open fresh bidding for coal-exploration licenses in the central Tete province by next week, with oil and gas tenders to follow soon, Mineral Resources Minister Esperanca Bias said.
Deadline for park mine bid looms
12 May 2014 at 10:40pm
Source: Business Report (SAPA)

Johannesburg - The deadline for comment on a provisional environmental impact assessment for a coal mine next to the Hluhluwe iMfolozi nature reserve is Monday, according to Rapport newspaper.
ArcelorMittal SA swings back to profit
12 May 2014 at 22:35pm
Source: Business Report(Reuters)

Johannesburg - ArcelorMittal South Africa said on Friday it returned to profit in the first quarter from a year ago as it benefited from higher production and better prices.
Grindrod raises R2.4bn via share sale
Picture: Independent Newspapers

12 May 2014 at 10:25pm
Source: Business Report(Reuters)

Johannesburg - South African transport firm Grindrod has raised 2.4 billion rand via the issue of new shares to fund the expansion of its Mozambican and domestic terminals, it said on Friday.
Strike's end may hinge on new cabinet
Picture: Reuters

12 May 2014 at 10:20pm
Source: Business Report(Dineo Faku)

Johannesburg - The calibre of the next incumbent of the mineral resources portfolio in cabinet would determine whether or not the strike in the platinum belt continued, an analyst said as the ANC continued to hold a firm grip on power.
Redefine to bid for Fountainhead
12 May 2014 at 10:14pm
Source: Business Report (Roy Cokayne)

Listed Redefine Properties now has a 66 percent stake in Fountainhead Property Trust and believes it should be in a position by the end of this month to make an offer for all the assets of the listed property trust.
Redefine halts state-tenanted offices sale
11 May 2014 at 09:35pm
Source: Business Report (Roy Cokayne)

Redefine Properties has placed on hold its planned disposal of its R3 billion portfolio of government-tenanted offices although it still plans to sell them.
Delta Property Fund ponders Rebosis, Ascension merger
11 May 2014 at 09:30pm
Source: Business Report (Roy Cokayne)

Delta Property Fund, the listed black-managed and substantially black-owned property fund with significant exposure to government tenanted offices, grew its distributions per linked unit by almost 24 percent to 40.18c in the six months to February.
IPPs agree to raise supply to Eskom
Photo: Reuters

08 May 2014 at 11:19pm
Source: Business Report

Johannesburg - Some independent power producers (IPPs) contracted by Eskom have committed to sell more electricity to the state-owned power utility this winter.
Komatsu beefs up presence in Queensland
08 May 2014 at 11:12pm
Source: Mining Magazine

Komatsu Australia has opened a new customer support facility in Mackay. The new facility, at Bosso Road, Paget, was officially opened on May 1, following the site's ground-breaking ceremony on June 27, 2013, which was held as part of the opening of Komatsu's new Mackay Mining Assembly facilities.
Booyco releases underground monitoring system
08 May 2014 at 11:03pm
Source: Mining Magazine

Booyco Electronics has developed an on-board metering technology that allows mining companies to monitor a variety of operational parameters relating to their underground machinery.
China Railway inks contract with Nigeria
07 May 2014 at 09:06pm
Source: Business Report (Reuters)

Hong Kong - China Railway Construction Corporation Ltd has signed a $13.1 billion deal to build a high-speed railway in Nigeria, as China's pushes to develop fast rail and other infrastructure projects on the continent.
'Amcu to continue strike'
07 May 2014 at 03:29am
Source: Business Report (SAPA)

Johannesburg - Trade union Amcu will continue its marathon strike in the platinum mining sector, the mining companies said on Tuesday.
Harmony posts net profit of R31m
07 May 2014 at 03:24am
Source: Business Report (SAPA)

Cape Town - Harmony Gold on Tuesday said it turned a net profit of R31 million for the first quarter of the year, compared to a net loss of R91 million at the end of 2013.
Pinnacle Holdings: RBC unit lifts stake to nearly 9%
06 May 2014 at 12:50pm
Source: Business Report

RBC Investor Services Trust had increased its shareholding in Pinnacle Holdings, which is the subject of an investigation by the Financial Services Board (FSB), the software provider said yesterday.
Donations trickle into strike fund
06 May 2014 at 12:43pm
Source: SowetanLive(SAPA)

Donations were trickling into Amcu's strike fund, union leader Joseph Mathunjwa said on Monday.
496 000 more jobs this year - Stats SA
06 May 2014 at 12:37pm
Source: Business Report(By Wiseman Khuzwayo)

Johannesburg - South Africa had almost 500 000 more people in employment during the first quarter than a year earlier as the rand's recent weakness led manufacturers to boost hiring to capitalise on a rise in demand for local exports.
Plans for R2bn 'Zumaville' push ahead
Photo: THEMBINKOSI DWAYISA

05 May 2014 at 10:08pm
Source: SowetanLive(SAPA)

Plans for development of a R2 billion town near President Jacob Zuma's Nkandla homestead are moving ahead, the Sunday Times reported.
World Bank approves $1 bn loan to Pakistan
05 May 2014 at 10:00pm
Source: SowetanLive(SAPA-AFP)

The World Bank said Friday it had approved a $1 billion loan for Pakistan and "envisages" another $11 billion package spanning five years.
Taiwan moves to levy 'rich man's tax'
05 May 2014 at 09:48pm
Source: SowetanLive (SAPA-AFP)

Taiwan has moved to levy a so-called "rich man's tax" on nearly 10,000 of the island's wealthiest people in a bid to narrow the income gap, officials said Friday.
DR Congo opens one of Africa's largest gold mines
05 April 2014 at 09:43pm
Source: SowetanLive(SAPA-AFP)

Production at the Kibali mine started in the third quarter of 2013 but Mining Minister Martin Kabwelulu on Friday attended an official ceremony in the Province-Orientale region.
Spokeswoman Sue Vey said the company still could not say how much of its workforce had indicated the
04 May 2014 at 09:43am
Source: Business Report (Sapa)

Johannesburg - Amcu has allegedly threatened human resources officers at Anglo American Platinum (Amplats), the platinum mining company said on Friday.
Lonmin sets deadline for strikers
04 May 2014 at 09:39am
Source: Business Report

Johannesburg - World no. 3 platinum producer Lonmin said on Friday that it had given its striking South African miners until May 8 to accept its latest wage offer and that they needed to be back to work by May 14.
Petrol to decrease by 15c/l
04 May 2014 at 09:36am
Source: BDLIVE (BY EVAN PICKWORTH)

A FIRMER rand in April has helped bring the petrol price down by 15c/l in May. The rand firmed in April to R10.55 against the dollar in April, from R10.77 the month before.
Five-year plan launched to treat acid mine drainage in Gauteng
04 May 2014 at 09:32am
Source: BDLIVE (BY CHARLOTTE MATHEWS)

THE Gauteng agriculture and rural development department launched a five-year plan this week, to treat the problem of acid mine drainage (AMD) in the province.
Imports, supply glut pressure cement sector
04 May 2014 at 09:28am
Source: BDLIVE (BY NICK HEDLEY)

THE domestic cement industry is facing tough conditions in the short term, with excess supply expected to keep margins under pressure. As a result, any further investments are likely to be channelled into upgrading dated and inefficient plants.
Cape ANC to probe tender awarded to collapsing construction firm
01 May 2014 at 11:03pm
Source: BDLIVE (by Paul Vecchiatto)

CAPE TOWN — The Western Cape African National Congress (ANC) is planning to launch a series of actions to determine if that province's government had willfully awarded tenders worth about R600m to collapsing construction company Filcon.
Transnet seeks to protect non-striking workers
Transnet CEO Brian Molefe. Picture: PUXLEY MAKGATHO


01 May 2014 at 10:58pm
Source: DBLIVE (by Mark Allix)

TRANSNET is offering a R100,000 reward for information leading to the arrest and prosecution of individuals involved in "petrol bombings, stonings and general lawlessness" against non-striking workers at its Ngqura Container Terminal near Port Elizabeth.
Gordhan calls for business culture rooted in empathy
Finance Minister Pravin Gordhan. Picture: PUXLEY MAKGATHO

01 May 2014 at 10:52pm
Source: BDLIVE (by Linda Ensor)

EXECUTIVE salaries skyrocketed between 2005 and 2012 leading to calls by Finance Minister Pravin Gordhan and the Congress of South African Trade Unions (Cosatu) for the situation to be addressed.
Local engineering companies out in the cold
01 May 2014 at 10:36pm
Source: BDLIVE (by Mark Allix)

TRANSNET has bypassed domestic engineering groups in awarding contracts valued at R50bn to two Chinese and two North American railway groups for the building of 1,064 electric and diesel locomotives, as part of Transnet's R308bn market demand strategy to 2019.
Builders improve transformation efforts
01 May 2014 at 10:22pm
Source: Business Report (By Roy Cokayne)

Pretoria - There has been a significant improvement in transformation in the construction industry and an upward trend in overall compliance by the sector.
Infrasors expects operational improvement
01 MAy 2014 at 10:13pm
Source: Business Report

Johannesburg - Basic building materials firm Infrasors said yesterday the contribution from operations for the year to February was expected to improve to R15.1 million from a restated loss from operations of R27.9m the previous year.
PPC forecasts profit hike
Picture: Simphiwe Mbokazi

01 May 2014 at 10:17pm
Source: Business Report (By Roy Cokayne)

Pretoria - PPC, the listed cement and lime producer, expected its earnings a share and headline earnings a share for the six months to March to be between 30 percent and 40 percent higher than the previous corresponding period, it said on Friday.
Amplats takes wage offer to miners
01 May 2014 at 09:56pm
Source: Business Report

Rustenburg - Anglo American Platinum is taking its latest wage offer directly to its employees across Southern Africa, the company said on Wednesday.

"We have been hosting a series of mass meetings in Rustenburg which began last week and have started in labour sending areas i.e the Eastern Cape, Lesotho and Mozambique this week to engage directly with our employees on the revised offer we have tabled," Amplats spokeswoman Mpumi Sithole told Sapa.
Assmang deal will open door to Gabon
01 May 2014 at 10:00pm
Source: Business Report (By Dineo Faku)

Johannesburg - Metals company Assmang had entered into a share subscription agreement in which it would acquire a 19.9 percent equity interest in IronRidge, an Australian firm focused on iron ore exploration, for £11.74 million (R210m), it said yesterday.
Anadarko halts SA oil spending
http://www.sxc.hu/

01 May 2014 at 10:06pm
Source: Business Report (By Reuters)

Nairobi - US oil and gas explorer Anadarko Petroleum said it halted spending on exploration in South Africa until it has more clarity on changes in the petroleum law, which gives the state a 20 percent stake in new ventures.
Growthpoint gets its first tranche
01 May 2014 at 09:50pm
Source: Business Report (By Roy Cokayne)

Johannesburg - Property company Acucap reported yesterday that it had received notification that Growthpoint Properties now had a 28.8 percent interest in the company.
R51bn rail contract comes into effect
30 April 2014 at 12:03pm
Source: Business Report (Sapa)

Johannesburg - A R51 billion contract between the Passenger Rail Agency of SA (Prasa) and Gibela Rail Transportation signed last year has come into effect, Prasa said on Tuesday.
Platinum mines fight to end strike
30 April 2014 at 11:56am
Source: Business Report (By Dineo Faku)

Johannesburg - Platinum producers have gone full steam ahead to reach employees in an attempt to get them consider their latest revised wage offer after talks with the Association of Mineworkers and Construction Union (Amcu) collapsed last week.
The poster boys of solar-geyser tenders
Picture: BDLIVE (THINKSTOCK)

28 April 2014 at 03:20am
Source: BDLIVE (BY SIMON LINCOLN READER)

I CONFESS to thinking that solar geysers, in their existing appearance, are taking us backwards, possibly to the middle of 1983. I acknowledge I'm in the minority. Despite being established in South Africa, these things have as much personality as some carbuncle of a sofa inherited from a late great-aunt, used only because of guilt or the unexpected discovery of a few hundred thousand BHP Billiton shares in the will.
Refineries' R40bn upgrade faces delays
28 April 2014 at 03:13am
Source: BDLIVE (BY DAVID FURLONGER)

A R40BN programme to upgrade South Africa's oil refineries to produce cleaner fuel seems likely to be delayed, which would see investment costs rise and motorists continuing to pay for environmental benefits they are not receiving.
Fracking remains an unknown quantity in SA's future energy mix
28 April 2014 at 03:06am
Source: BDLIVE (BY Mark Allix)

SOUTH Africa is on the verge of a "golden age" in energy in respect of the exploration being carried out in shale gas, and onshore and offshore oil. But Transport Minister Dipuo Peters says the Department of Energy will only announce the work it is doing in this regard, "when they are ready".
Joburg to sell bonds in bid to raise funds for infrastructure
28 April 2014 at 02:55am
Source: BDLIVE (BY Robert Brand)

JOHANNESBURG is set to lead a resurgence in municipal bond sales as South African cities raise money to improve decaying water systems, sanitation and electricity infrastructure.
Locomotive makers keep eye on GE talks with Alstom
28 April 2014 at 02:48am
Source: BDLIVE (BY AARON KIRCHFELD, MATTHEW CAMPBELL AND JEFFREY MCCRACKEN)

LONDON — General Electric (GE) is in talks to buy Alstom, the French builder of power plants and transmission gear, say people with knowledge of the matter, in what would be its biggest acquisition ever.
Eskom cash flow 'very stable'
Picture: Dumisani Sibeko

25 April 2014 at 08:15pm
Source: Business Report (Sapa)

Johannesburg - Eskom's cash flow situation is "very stable", the power utility said on Friday. "Eskom would like to reassure the nation at large that its cash flow situation is very stable," the company said in a statement.
No underhand tactics: Platinum mines
Lonmin mine near Rustenburg. File photo: Themba Hadebe

25 April 2014 at 08:02pm
Source: Business Report (Sapa)

Johannesburg - Amcu allegations that Lonmin, Amplats and Impala Platinum used underhanded tactics in negotiations to end a three-month strike were dismissed by the platinum producers on Friday.
Quick transformation or creation of an equitable society
25 April 2014 at 07:37pm
Source: Business Report (By Abe Thebyane)

Twenty years of democracy have resulted in some momentous changes within the socio-economic and political landscape, not least in the sphere of employment and labour legislation. This was taken a step further earlier this year with amendments to the Employment Equity Act.
Rebosis still pursuing three-way merger April 25 2014 at 08:00am By Roy Cokayne Comment on this st
25 April 2014 at 07:27pm
Source: Business Report (By Roy Cokayne)

A merger of Rebosis Property Fund, Delta Property Fund and Ascension Properties made strategic sense, especially as each of the listed property funds was effectively aiming to attain similar objectives, Rebosis chief executive Sisa Ngebulana said yesterday.
Prasa: Gordhan approves rail funding plans
25 April 2014 at 07:19pm
Source: Business Report (Asha Speckman)

Finance Minister Pravin Gordhan has approved agreements that bind the Passenger Rail Agency of SA (Prasa) to certain financial commitments for the rail parastatal's R123.5 billion project to upgrade and expand South Africa's railway infrastructure and rolling stock.
'R1 a month for Transnet pensioners'
25 April 2014 at 07:06pm
Source: Business Report (Sapa)

Johannesburg - Some Transnet pensioners are left with R1 after their medical aid deductions, the Freedom Front Plus said on Thursday. "Most of the retired employees are left with R1 after their medical aid deductions, what can one do with R1 these days?" asked FF Plus MP Anton Alberts during a march by a number of pensioners to the Union Buildings in Pretoria.
Platinum strike losses reach R20bn
25 April 2014 at 19:01pm
Source: Business Report (By SAPA)

Johannesburg - Talks to end the protracted wage strike in the platinum sector continued behind closed doors at an undisclosed location in Johannesburg on Wednesday. By early afternoon, there was no indication of how the talks were proceeding.
Due diligence supports Afhco acquisition by SA Corporate
25 April 2014 at 18:56pm
Source: Business Report (By Roy Cokayne)

The core rationale for SA Corporate Real Estate Fund's proposed acquisition of leading Johannesburg residential conversion and inner-city improvement company Afhco Holdings has been strengthened during a comprehensive due diligence.
Construction firm is top franchisor
25 April 2014 at 18:49pm
Source: Business Report (By Roy Cokayne)

The Silverline Group, which claims to be the only franchised construction company in South Africa and one of only a few in the world, won the Franchise Association of SA (Fasa) franchisor of the year award earlier this month.
Delta Property Fund: Durban properties bought for R487m
24 April 2014 at 14:51pm
Source: Business Report (By Roy Cokayne)

Delta Property Fund had agreed to acquire several properties in Durban from Old Mutual Life Assurance for a total of R487.2 million cash, the listed property fund said yesterday. The properties being acquired are OMC Durban, comprising Old Mutual Centre, Westguard House, 300 Smith Street and the 400-bay car park situated on the former Gardiner House/Mutual building sites plus The Marine and The Marine Parking.
Tower Property: De Ville mall joins portfolio
24 April 2014 at 14:48pm
Source: Business Report (By Roy Cokayne)

Tower Property Fund had purchased the De Ville Shopping Centre in Durbanville from Atterbury Properties for R226 million, Tower reported yesterday. The centre, comprising 2 500m2 of office space and 13 500m2 of retail space, with Pick n Pay, Clicks and Virgin Active as anchor tenants, will be the second-largest asset in its portfolio.
Alex businesses threaten Rea Vaya
23 April 2014 at 00:15am
Source: The Star (By Anna Cox)

Members of the Region E Business Forum Moses Ntuli, left, Bongani Sibisi, Jerome Gcaba and Thomas Selala, promise to fight for inclusion in the Rea Vaya bus project. Picture: Itumeleng English.

Johannesburg - Alexandra is going to burn like Bekkersdal.
This is the threat by 172 small business owners who say they are reaping no benefit from the construction of the new Rea Vaya bus route which is under construction in Orange Grove.
How to unlock R50bn - Cesa
23 April 2014 at 00:09am
Source: Business Report (By Roy Cokayne)

The Gautrain is one of the country's big infrastructure projects of recent times but Consulting Engineers SA says much more is possible under the right conditions. Photo: Bongiwe Mchunu

Roy Cokayne
Clearer project pipelines, policy stability and public private partnerships to entice private sector investors are among the issues that need to be addressed to unlock the R50 billion that business is saving and not investing in the economy.
Municipalities warned against debt electioneering
22 April 2014 at 23:50pm
Source: Independent Newspapers (By LOYISO SIDIMBA)

Johannesburg - National Treasury has warned municipalities not to suspend measures to collect the R93.3 billion they are owed in order to win public support ahead of next month's general elections.
Time for SA to create its future business heroes
22 April 2014 at 10:11am
Source: Business Report

The theme of this article is entrepreneurship and why it is not working well in South Africa, why we have been overtaken by Nigeria as Africa's largest economy, why we need to pay urgent attention before it is too late, and what can be done to remedy a situation that is chronically out of control.
Protests, strikes and loan cutbacks weigh on Cashbuild sales growth
22 April 2014 at 10:06am
Source: Business Report

Protests against the government, platinum sector strikes and the fallout from the unsecured lending boom would restrain sales growth, Cashbuild, the worst-performing JSE stock this month, has said.
Platinum producers, Amcu to meet
22 April 2014 at 10:01am
Source: Business Report

Johannesburg - Negotiations between platinum producers and union Amcu are expected to resume on Tuesday following a new wage offer tabled for the striking mineworkers.
EU firms win big Angola oil contract
22 April 2014 at 09:54am
Source: Business Report

Paris - The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.
Transport backbone to be commuter rail: MEC
16 April 2014 at 10:52am
Source: Sowetan

"Today, we have received information on the planned improvements of Metrorail in Gauteng," Vadi said in a statement. "These augur well for the future. Essentially, they entail three key programmes."
Energy minister to meet with IPP
16 April 2014 at 10:47am
Source: Sowetan live

Energy Minister Ben Martins will on Friday host a strategic engagement session with independent power producers (IPP).

The event would be held at the Council for Scientific and Industrial Research (CSIR) offices in Pretoria.
Growthpoint buys stakes in two property companies
15 April 2014 at 17:04pm
Source: Business Report(Bloomberg News)

Johannesburg - Growthpoint Properties will become the biggest shareholder in two property operators as South Africa's biggest real-estate company seeks to expand its business with retail and office offerings.
Who will pay Eskom's R10bn diesel bill?
15 April 2014 at 16:37pm
Source: Business Report

Cape Town - Eskom spent a whopping R10 billion on diesel last year to help keep the lights on. This was R8bn more than it had budgeted for, but the electricity reserves are so tight, Eskom had to run the country's diesel-guzzling "peaker plants" for much longer than normal.
Martins promises brighter winter
15 April 2014 at 16:32pm
Source: Business Report(Sapa)

Johannesburg - Eskom would cut back plans to repair plants during winter to ensure the country had enough electricity as the colder months approached, Energy Minister Ben Martins announced yesterday.
Africa's builders benefit from broadening economies
15 April 2015 at 16:26pm
Source: Business Report

Johannesburg - Construction companies in sub-Saharan Africa are moving beyond mainstay mining work as rising wealth and urbanisation spark demand for shopping centres and better roads, the chief executive of South African builder Group Five said.
Total approves $16bn Angolan project
15 April 2014 at 16:19pm
Source: Business Report

Paris - French oil company Total said on Monday it had decided to go ahead with its Kaombo oil project offshore Angola after lowering its cost by $4 billion to $16 billion.
Green energy IPPs create 14 000 jobs
15 April 2014 at 11:41am
Source: Business Report

Independent power producers (IPPs) using renewable energy had created about 14 000 jobs over the past three years, Energy Minister Ben Martins said on Friday. "One of the imperatives of government is to ensure that all departments assist in job creation.
Atterbury Developments: Three malls for Mozambique
15 April 2014 at 11:38am
Source: Business Report(Reuters)

Property firm Atterbury Developments planned to build three shopping malls in Mozambique, managing director James Ehlers said on Friday, joining a slew of real estate developers responding to the lure of Africa's fast-growing consumer markets.
Call to blacklist big construction firms
File picture: Henk Kruger

15 April 2014 at 11:32am
Source: Business Report (Sunday Independent)

Johannesburg - Some of the country's biggest construction companies, who colluded to swindle government out of billions of rand, have received at least R1.5 billion in state contracts since the scandal broke a year ago.
SA needs R10.5bn to make toxic mine water potable
15 April 2014 at 11:25am
Source: Business Report

Johannesburg - South Africa needs to spend as much as $1 billion (R10.5 billion) to make toxic water leaking from abandoned mine shafts drinkable, the Department of Water Affairs said.
SA to start R12.6bn water project
15 April 2014 at 11:23am
Source: Business Report (Bloomberg News)

Johannesburg - South Africa, the world's biggest exporter of oranges, plans to build two dams for $1.2 billion (R12.6 billion) to boost agriculture and industrial development in the Eastern Cape province.
'Bankable projects' need funding
11 April 2014 at 10:50am
Source: Business Report (Reuters)

Durban - KwaZulu-Natal is aiming to secure at least half a billion rand in investment for new business ventures and development projects through the KZN Funding Fair which opened in Durban yesterday.
Gigaba downplays noises over Eskom
11 April 2014 at 10:37am
Source: Business Report

Johannesburg - Public Enterprises Minister Malusi Gigaba is racing against time as he attempts a delicate juggling act of his department's parastatals with key outstanding issues just weeks before his term of office expires.
Fountainhead, Redefine merger back on the table
11 April 2014 at 10:35am
Source: Business Report

Johannesburg - A potential merger between listed property companies Redefine and Fountainhead is back on the negotiating table. Fountainhead yesterday advised its unitholders that the two firms had begun discussing the terms of a possible merger.
Tribunal confirms settlement with WBHO over rail tender
10 April 2014 at 10:14am
Source: Business Report

A settlement agreement between Wilson Bayly Holmes-Ovcon (WBHO) and the Competition Commission related to collusive tendering on the Transnet tender project to upgrade a portion of the Sishen-Saldanha iron ore rail line has been confirmed by the Competition Tribunal.
Former M&R boss agrees to atone
10 April 2014 at 10:11am
Source: Business Report

Murray & Roberts (M&R) has reached a financial settlement with one of its six former executives implicated in anti-competitive behaviour. Henry Laas, M&R's group chief executive, declined to give details yesterday but was confident settlements would soon be reached with the rest of the implicated former executives.
Arrowhead Properties: Eight buildings in Maboneng acquired
09 April 2014 at 08:26am
Source: Business Report

Arrowhead Properties has agreed to acquire eight buildings in the Maboneng Precinct, east of Johannesburg's central business district, for R180 million from urban regeneration company Propertuity.
Motlanthe: Gauteng roads to grow economy
09 April 2014 at 08:24am
Source: Business Report (Sapa)

Pretoria - The Gauteng freeway improvement project will lead to enhanced economic growth, Deputy President Kgalema Motlanthe said on Tuesday. "Through enhanced traffic flow and accessibility, the project will contribute significantly to economic growth," he said.
Murray & Roberts: Water deal with Hyflux finalised
08 April 2014 at 08:37am
Source: Business Report

Murray & Roberts (M&R) has signalled its intention to target water treatment opportunities in sub-Saharan Africa with its finalisation of a memorandum of agreement with Hyflux, the global fully-integrated water solutions company.
Marriott: To open 30 new hotels in SA A
08 April 2014 at 08:34am
Source: Business Report (Reuters)

Cape Town - Marriott International will open 30 new hotels in South Africa by 2020 as it seeks to expand across the continent following its 2 billion rand ($190 million) buyout of Protea Hospitality, a senior official said on Monday.
Merged cement companies would keep separate homes
07 April 2014
Source: Business Report (Bloomberg)

A cement mixer truck is driven from the refilling station at Lafarge's depot in Paris. The company is in merger talks with Swiss producer Holcim. A merged company would be the world's biggest maker of cement and would help to cut market overcapacity. Photo: Bloomberg
London and Paris - Holcim and Lafarge plan to retain dual Swiss and French listings and headquarters, according to people familiar with the matter.
Liberty Holdings: Tsogo Sun buys more of hotel venture
04 April 2014
Source: Busienss Report (Reuters)

Liberty Holdings was selling part of its Cullinan joint venture to its partner, Tsogo Sun, for R762 million to fund other property acquisitions, the insurer said yesterday.
'Pretoria casino is a sure bet'
03 April 2014
Source: Business Report

Pretoria - Hotel and casino chain Sun International has promised that its proposed R3 billion development, Time Square at Menlyn Maine in Pretoria east, will become a must-see, must-do attraction for the city.
Marriott International: Sites in 16 African states by 2017
03 April 2014
Source: Business Report

Marriott International would continue expanding in African markets following the acquisition of South Africa's Protea Hospitality Holdings, the second-largest publicly traded hotel company said yesterday.
Township retail property fund Safari to list on JSE
02 April 2014
Source: Business Report

The shake-up in the listed property sector through consolidation and new listings is continuing, with township retail property fund Safari Investments RSA reporting it would be listing in the retail real estate investment trust (Reit) sector of the JSE next week.
Esorfranki wins court appeal over corrupt pipeline tender
1 April 2014
Source: Business Report

Esorfranki, the listed civil engineering group, has successfully appealed against a North Gauteng High Court judgment on its application to review a corrupt R217 million pipeline tender in the Mopani district municipality.
Eskom on brink after boiler failure
1 April 2014
Source: Business Report

Johannesburg - Eskom said it will rework maintenance plans on South African power plants to ensure the state-owned utility has enough electricity supply to meet demand after a boiler incident cut 600 megawatts of capacity.
Ansys: R188m Transnet tender secured
1 April 2014
Source: Business Report

Ansys has been awarded a R188 million contract by Transnet for an integrated dashboard display system for locomotives.
Transnet secures R3bn loan
31 March 2014
Source: Business Report

Johannesburg - Transport parastatal Transnet has secured a R3 billion loan for its rail contract to manufacture 1064 locomotives, it said on Friday. "Transnet successfully concluded a loan facility amounting to R3bn early this week with FirstRand Bank, Rand Merchant Bank, China Construction Bank Corporation, and KFW Development Bank of Germany," spokesman Mboniso Sigonyela said in a statement.
Grindrod to sell R4bn in new shares
31 March 2014
Source: Business Report

Johannesburg - South African logistics company Grindrod said on Friday it would issue up to 4 billion rand worth of new shares to expand its port, terminal and rail capacity.
Basil Read: Heyns to step down from end of May
31 March 2014
Source: Business Report

Basil Read group chief executive Marius Heyns is to retire effective from the end of May. The group said yesterday that Heyns would continue as chief executive of the company until his retirement and the group had initiated a process to appoint a successor.
Vunani shareholders rewarded for patience
26 March 2014
Source: Business Report

Johannesburg - After a roller-coaster ride, stomaching losses for the first four years after its AltX listing, Vunani's shareholders are set to be rewarded with recurring dividends. On Monday when Vunani published its results for the 12 months to December last year, the company declared its first annual dividend of 5c a share and topped it with a special dividend of 25c a share to distribute the proceeds of the disposal of its property asset management business last year.
Total SA goes renewable with low-cost solar lamps for poorer homes
26 March 2014
Source: Business Report

Johannesburg - Total South Africa has become the first petroleum company to add renewable energy products to its consumer goods offering in South Africa. Yesterday the company launched its Awango range of solar lights, which is already distributed in 30 countries where Total operates.
TPN: Worsening rental payment trend
24 March 2014
Source: Business Report

Johannesburg - There was a worsening in rental payment trends in the residential market in the fourth quarter of last year. Credit bureau TPN described this as "a worrisome change in tenant payment behaviour for the first time in nearly three years". TPN's latest rental payment monitor said this reversal was a sudden change for landlords and property managers who had been enjoying an unusually long period of improving rental payments.
Business body pledges support for NDP
14 May 2014 at 14:45pm
BDLive ( NTSAKISI MASWANGANYI)

SOUTH Africa's largest business lobby group, Business Unity South Africa (Busa), says it will help the incoming administration implement the National Development Plan (NDP) to rid the country of unemployment, poverty and inequality, provided policy certainty was ensured.
Rentals continue to rise as businesses flock to Sandton
24 March 2014
Source: Business Repeort (Staff Reporter)

Sandton is still a powerhouse of growth for the commercial property sector. Ken Reynolds, the Gauteng regional executive of Nedbank Corporate Property Finance, said the corporate migration to central Sandton showed no signs of slowing and the concentrated wealth and existing facilities in the node were still attracting massive investment from major corporates looking to establish their offices at the heart of sub-Saharan African trade.
Transnet wants engineers not cleaners
22 March 2014
Source: Business Report

Cape Town - It is not true that poorer communities are only good for cleaning work and other low-paid jobs in engineering projects, Transnet CEO Brian Molefe said in Cape Town on Thursday.
House builder Visual to list on AltX next month
20 March 2014
Source: Business Report

Visual International Holdings, a property development firm that develops complete, self-contained suburbs for the middle-income market, is to list on AltX, the JSE's junior exchange, next month.
Eskom's Ingula workers evacuated
20 March 2014
Source: Business Report (SAPA)

Bloemfontein - Power utility Eskom has evacuated workers from a construction tunnel at the Ingula pumped storage construction site near Ladysmith in Kwazulu-Natal, a spokesman confirmed on Wednesday.
Interim CEO to stand in until new CEO is found
18 March 2014
Source: Sowetan

An interim chief executive will be appointed to Eskom when current CEO Brian Dames steps down at the end of March, a spokesman said on Monday. "No, we have not found a replacement yet," said Andrew Etzinger.
"The process is underway. There will be an interim chief executive appointed [in the meantime] until a new CEO is found."

Bell pays R120m in BEE buy-back
18 March 2014
Source: Business Report

Johannesburg - Bell Equipment is in discussions with new potential black economic empowerment (BEE) partners after its previous strategic empowerment partners decided to exercise their right to put their 30 percent stakes back into the group towards the end of last year.
Tower Property Fund: Durbanville mall bought for R226m
18 March 2014
Source: Business Report

Tower Property Fund had acquired the De Ville Shopping Centre in Cape Town from Attacq for R226 million, Tower reported yesterday. Situated at the corner of Wellington and Main roads in Durbanville, the property has a gross lettable area of 13 455m², of which 2 558m² consists of a B-grade office tower above the retail centre and includes 515 undercover parking bays.

GE tipped to supply Transnet with engines
18 March 2014

Johannesburg - General Electric (GE) will probably be named today as the preferred bidder to supply 465 diesel locomotives to state-owned Transnet as part of a R35 billion investment, according to people familiar with the matter.

Residents to block Durban port plans
18 March 2014
Source: Business Report

Durban - Umbilo residents have promised to block Durban's multibillion-rand port expansion, saying they had not been consulted and the plans would benefit big business, not the poor.
The residents, mainly women, gathered at the Dalton Beer Hall in Umbilo Road yesterday to hear from activists, community leaders and the National Union of Metalworkers of South Africa (Numsa), about Transnet and the city's back-of-port plans.
A presentation viewed at the meeting shows that the hostel falls within a block set aside by the city for industrial rezoning.
Mthembiseni Thusi, who heads the uBunye Bamahostel Association at Dalton, said the community was "shocked".
Transnet awards train contract
17 March 2014
By Reuters

Johannesburg - South Africa's state-owned logistics company on Monday awarded General Electric, Bombardier and two Chinese firms a contract to supply over 1,000 trains, as part of a R300 billion expansion plan.
N2 Keiskamma Road Project Nurtures New Talent in Construction Industry
06 March 2014

The past recent years have witnessed some major transformations in the construction industry. Once dominated by big companies the era has seen the emerging of new upcoming players that have made a mark in the industry. This can be attributed to a shift in government policies with the major one being the need to empower formerly disadvantaged business community members through the auspices of the Broad Based Black Economic Empowerment (BBBEE) concept
Crossways Farm Village, Experience a True Touch of New Ruralism
04 March 2014

Picture this for a moment. What comes to your mind if you hear these words or see them written somewhere; agriculture, villages, solar, soil, farming, dairy, dust roads, fence, irrigation, singing birds, natural and farmyard? In most people what comes to their imagination is a distant picture of farm-like environment or ancient rural life.
New Cornubia Housing Development, Capsizing the Historical Boat
04 March 2014

The BUSINESS SPOTLIGHT Magazine has in the past published a preliminary article on the Cornubia Development. The article looked at the early stages of the project. The project is one development which is going on well as planned by the client, EThekwini Municipality. The project is being done in different phases.
Aveng reports drop in profit
Johannesburg - South Africa's biggest construction firm, Aveng Ltd, reported a drop in half-year profit on Tuesday, hit by delays in public building projects and labour unrest.
Like other building firms in Africa's top economy, Aveng has struggled to increase profit since the end of the building boom for the 2010 soccer World Cup held there.
The company said in the six months to the end of December, headline earnings per share,
WBHO fined R10m for collusive tendering
Johannesburg - Wilson Bayly Holmes-Ovcon (WBHO) has reached a settlement agreement with the Competition Commission and agreed to a fine of R10.24 million for collusive tendering on the Transnet project to upgrade a portion of the Sishen-Saldanha iron ore rail line.
Glencore continues search for trapped miners
Picture: Business Report

11 March 2016 at 08:38 am
Business Report

Johannesburg - The search for five workers trapped underground after what Glencore described as as "geotechnical failure" at its Katanga copper mine in the Democratic Republic of Congo (DRC) was continuing, the company said in a statement on Thursday.
African Rainbow: Motsepe sticks with Harmony
12 June 2015 at 01:24
Business Report

AFRICAN Rainbow Minerals, owned by billionaire Patrice Motsepe, will keep its stake in Harmony Gold even as South Africa's third-biggest miner of the precious metal trades at 17-year lows.
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