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Koeberg participating in development of other desalination projects Koeberg participating in development of other desalination projects
Published: 19 Feb 18
Apart from its recently announced temporary desalination plant, the Koeberg nuclear power station is working on a range of desalination projects, including a detailed feasibility study with the City of Cape Town on a large-scale desalination plant. If the feasibility study is successful, it will be followed up with a large-scale seawater desalination plant.
Indian captive coal mines to achieve 105Mt production by 2021
Published: 19 Feb 18
Indian coal production from captive blocks allocated to thermal power plants has been estimated at 105-million tons a year by 2021/22, up from about 37-million tons a year at present, according to perspective planning on coal availability by the Power Ministry. To date, 29 coal blocks have been auctioned for captive mining by thermal power producers and 11 to state governments.
Coega SEZ receives EIA approval for desalination, aquaculture zones
Published: 19 Feb 18
The Coega Special Economic Zone (SEZ), in the Eastern Cape, has received environmental-impact assessment (EIA) approval for a 440 ha land-based aquaculture development zone (ADZ) and a desalination plant in Zone 10 of the Coega SEZ. “The approval of the EIA is a step towards fulfilling the Coega SEZ’s vision to host one of the largest ADZs in South Africa and, simultaneously, respond to the severe water shortages experienced in the Nelson Mandela Bay (NMB),” Coega Development Corporation (CDC) project development manager Dr Keith du Plessis said in a statement issued on Monday.
SA Mint new coin releases include Mandela-focused Celebrating South Africa series
Published: 19 Feb 18
South African Reserve Bank subsidiary, the South African Mint, has announced new collectables product ranges that will appear in the global coin market this year, including the ‘Celebrating South Africa’ series, which will commemorate the life of former President, distinguished Statesman and global icon Nelson Mandela. “A new bi-metallic R5 circulation and proof quality coin is central to this range, affording the general South African public and coin collectors alike the opportunity to celebrate Mandela’s birth centenary,” the Mint said in a statement on Monday.
Tribunal approves Barnes Southern Palace's acquisition of Scaw
Published: 19 Feb 18
The Competition Tribunal has conditionally approved the transaction, in terms of which holding company Barnes Southern Palace plans to acquire Scaw South Africa from the Industrial Development Corporation (IDC). To address information sharing concerns, the transaction was approved subject to a condition that, for as long as the IDC is able to appoint directors to the respective boards of CWI and Scaw, the IDC will ensure that its representatives on the board of Scaw are not the same persons serving, nominated and/or appointed on any board or management committees or subcommittees of CWI.
Commission recommends tribunal approve Southern Palace Group's Genrec buy
Published: 19 Feb 18
The Competition Commission has recommended to the Competition Tribunal that Southern Palace Group's (SPG's) proposed acquisition of steel fabrication and manufacturing business Genrec Engineering, from construction and engineering company Murray and Roberts, be approved without conditions. SPG, which is a black-managed investment holding company with diverse interests in real estate, industrial companies, information technology, metals, mining and construction, also has a presence in the steel products manufacturing and recycling industry, and the automotive trading and manufacturing industry. Genrec is a manufacturer of steel fabrication solutions and undertakes high, medium and heavy structural steel fabrication, structural steel, project services, steel erections and site services for construction companies. The commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in the relevant market.
Russian magnate Deripaska to quit roles at his two biggest firms
Published: 19 Feb 18
Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls - aluminium giant Rusal and En+ Group, two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires on a US government list of Russian oligarchs. While it is not a sanctions list, Western banks may be reluctant to deal with Russian companies whose owners are on the list.
Xtract concludes Manica hard rock collaboration agreement
Published: 19 Feb 18
The board of London-based diversified metals and minerals producer Xtract Resources has concluded a further collaboration agreement with Omnia Mining for the exploitation of the hard rock gold deposits at Xtract's Manica mining concession in Mozambique. This, however, excludes the hard rock gold deposits at the Fair Bride project, which remains under the sole control and management of Xtract.
Cryptocurrencies speculative, but blockchain can bring positive disruption – S&P’s
Published: 19 Feb 18
Global ratings agency Standard and Poor’s (S&P’s) currently views cryptocurrencies as speculative instruments that will have an “insignificant effect on global financial stability if its value were to collapse”, but that blockchain – a shared digital transaction ledger – presents an opportunity for financial institutions. Blockchain presents an opportunity for financial institutions to cut costs by streamlining back-office operations, shortening clearing and settlement times, facilitating payments and even generating new revenue streams, the ratings agency said in a statement issued on Monday.
 SA, UK political uncertainty dampens trading conditions, says Super Group SA, UK political uncertainty dampens trading conditions, says Super Group
Published: 19 Feb 18
Challenging trading conditions and political uncertainty continued to depress trading conditions at transport logistics and mobility company, Super Group. The group on Monday reported a 27.5% increase in revenue for the six months ended December 31, compared with the same period in 2016, to R18-billion. Operating profit grew by 11%, to R1.14-billion.
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