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Convicted fraudster seeks to stop parliamentary processes aimed at removing him as Icasa chair
Published: 18 Mar 19
Fraud and money-laundering convict Rubben Mohlaloga will not only be fighting to stay out of prison but to also remain chairperson of the Independent Communications Authority of South Africa (Icasa). Sentenced to 20 years imprisonment last month but currently on bail pending an appeal of his sentencing, Mohlaloga has turned to the court in a bid to stop parliamentary process that would finalise his removal from Icasa.
Eskom to implement 'Stage 4' load-shedding from 09:00 to 23:00 Eskom to implement 'Stage 4' load-shedding from 09:00 to 23:00
Published: 18 Mar 19
Eskom said on Monday it would commence Stage 4 rotational load shedding from 09:00 to 23:00 and continue into Tuesday due to a shortage of capacity.   Stage 4 load-shedding requires the state-owned utility, which supplies 95% of South Africa's electricity, to rotationally take 4 000 MW of demand off the grid at a given period to avoid a total collapse.
The coal miner who bet everything on US power markets and lost The coal miner who bet everything on US power markets and lost
Published: 18 Mar 19
Eleven years ago, Cloud Peak Energy made an all-or-nothing bet its rivals were unwilling to match: that coal would remain indispensable to the US power sector. That gamble has now pushed it to the brink of bankruptcy.
'Stage 4 load-shedding is unacceptable, disruptive to economy' – Gordhan 'Stage 4 load-shedding is unacceptable, disruptive to economy' – Gordhan
Published: 18 Mar 19
Minister of Public Enterprises Pravin Gordhan has said that his department and National Treasury will assist embattled power utility Eskom to fast-track the procurement of "essential goods and services" required to urgently repair generating units at local stations. South Africans suffered two days of load shedding over the weekend. Eskom has said Stage 4 load-shedding will be implemented on Monday as it battles generation constraints. Load-shedding may also take place on Tuesday.
Deripaska sues over US sanctions, claims $7.5bn loss Deripaska sues over US sanctions, claims $7.5bn loss
Published: 18 Mar 19
Russian billionaire Oleg Deripaska is fighting back in a US court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin. Deripaska, who made his fortune in the metals industry, sued the US Treasury Department and Secretary Steven Mnuchin in Washington on Friday, asking a federal judge to lift the restrictions. In his complaint, the magnate said he is “the latest victim” of “political infighting and ongoing reaction to Russia’s purported interference” with the 2016 US Presidential election.
Brazil court orders Vale to stop operations at another mine
Published: 18 Mar 19
A Brazilian court ordered Vale to halt production at another of its iron-ore mines, further reducing the company’s output capacity after a deadly dam burst increased government scrutiny over its operations. The Timbopeba mine in Minas Gerais state produces 12.8-million tons of iron-ore per year, Vale said in a statement, adding that it will comply with the court decision.
Coca-Cola fast-tracking collection, recycling of PET bottles Coca-Cola fast-tracking collection, recycling of PET bottles
Published: 18 Mar 19
In commemoration of Global Recycling Day, and as part of a focused World Without Waste campaign, the Coca-Cola Company is accelerating the collection and recycling of polyethylene terephthalate (PET) bottles across Southern and East Africa. Along with its bottling partners and other industry partners in these regions, the company will invest more than $38-million, about R545-million, to stimulate plastic recycling industries and educate people about what, how and where to recycle.
Diamond industry should be driven by SMMEs – Dr John Bristow
Published: 15 Mar 19
In an industry that’s plagued by a lack of development and depleting assets, diamond exploration, evaluation and mining geologist Dr John Bristow has called on the industry to be driven by small-, medium-sized and microenterprises (SMMEs). Speaking at the South African Diamond Producers Organisation (Sadpo) conference, in the North West, on Friday, he said that if the South African diamond mining industry should be developed to be driven by SMMEs, it would have an overall positive impact on the South African economy and overcome some of the job creation and transformation challenges facing the country.
Power station for Tanami mine completed – Newmont Power station for Tanami mine completed – Newmont
Published: 15 Mar 19
The $245-milion power station project for Newmont Mining’s Tanami gold mine, in Australia, has been completed, the US-based gold and copper major reported on Friday. The project entailed the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline. The pipeline was built and will be maintained by Australian Gas Infrastructure Group, while the power stations were constructed and will be operated by Zenith Energy.
Tribunal approves Glencore, Chevron merger, with conditions
Published: 15 Mar 19
The Competition Tribunal on Friday approved a merger involving Glencore South Africa Oil Investment (Glencore SA Oil) and Chevron South Africa (Chevron SA). The transaction involves Glencore SA Oil acquiring 75% of the issued share capital of Chevron SA, from Off The Shelf Investments.
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