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Century Aluminum CEO: will recall workers if Trump imposes tariffs
Published: 23 Feb 18
The main US producer of high-purity aluminium used in military aircraft is poised to begin restarting idled production lines at its smelter in eastern Kentucky and recall some 350 workers if President Donald Trump imposes aluminium import curbs. Century Aluminum CEO Michael Bless told Reuters on Thursday that the Commerce Department recommendations for aluminium tariffs or quotas would allow US primary aluminium producers to restore all of "what's left" of their idled capacity to production.
Northam Platinum to create 6 500 new jobs in growth thrust Northam Platinum to create 6 500 new jobs in growth thrust Has Video
Published: 23 Feb 18
Platinum group metals (PGM) mining company Northam, which is in a strong organic and acquisitive growth phase, will be generating 6 500 new mining jobs in the next four to five years, which dovetails with President Cyril Ramaphosa's 'sunrise' aspirations expressed in his well-received State of the Nation Address. A current employer of 12 000 people, including contractors, Northam is in the midst of spending R5.5-billion capital on strategically timed, on-track growth projects, which are combining with acquisitive growth to reposition the company as a million-ounce supplier of PGMs, used to clean the air of all the world's major cities and adorn as a precious jewellery metal of choice. (Also watch attached Creamer Media video).
Study launched into economic impact of possible EV transition in South Africa Study launched into economic impact of possible EV transition in South Africa
Published: 23 Feb 18
A macroeconomic study into the impact of a possible transition in the South African transport market from internal combustion engine (ICE) vehicles to electric vehicles (EVs) has been launched. Initially proposed by the Department of Trade and Industry (DTI), the study is backed by the South African National Energy Development Institute, the United Nations Industrial Development Organisation (UNIDO), the World Wide Fund for Nature and the Global Environment Facility.
Green shoots seen in construction industry, despite tight conditions Green shoots seen in construction industry, despite tight conditions
Published: 23 Feb 18
The South African construction sector is still facing "very tough and difficult" conditions, with the 2.5% inflation rate creating an even tighter environment, Econometrix chief economist Dr Azar Jamine said on Friday. Speaking to industry representatives during an Afrisam-hosted post-Budget briefing, he said this cast a negative shadow over employment, as the construction industry created more informal employment than any other sector in the country.
BMR's acquisition of Zambian prospecting licence finalised
Published: 23 Feb 18
Mineral processing company BMR Group has made the final payment due to Zambia-based Bushbuck Resources, in order to complete the acquisition of prospecting licence 19653, better known as the Star Zinc project.        As a result, Bushbuck no longer has any charge over either the removable assets of BMR's wholly-owned subsidiary Enviro Processing, which owns all of the assets at BMR's principal operations in Kabwe, bar the property, or $570 000 of new ordinary ...
VAT increase shouldn't have major impact on business-to-business transactions
Published: 23 Feb 18
The one percentage point increase in the value-added tax (VAT) rate, from 14% to 15%, should not have a major impact on business-to-business transactions, says auditing firm KPMG COO Andrew Cranston. During a post-Budget discussion on Friday, he explained that the so-called “regressive effects” of VAT actually allow for an increase in social grants to ensure that the VAT increase does not further negatively impact the people who receive social grants while shielding business from tax hikes.
Airline safety in Africa getting better and better Airline safety in Africa getting better and better
Published: 23 Feb 18
The International Air Transport Association (Iata) has reported “strong progress” in airline safety in Africa last year. This was part of a world-wide improvement in safety, revealed in the global airline industry representative organisation’s 2017 safety performance data, released on Thursday. Last year was the second successive year in which there were no jet hull losses and no fatal accidents on the continent. And the turboprop hull loss rate, and the rates of all other accidents, declined in comparison to the average for the preceding five years. 
Accéntuate aims for recovery as political power changes hands
Published: 23 Feb 18
Flooring, water and chemicals specialist Accéntuate experienced a tough six months to December 31, 2017, with the company moving from a R3.5-million profit in the same period in 2016, to a loss of R1.78-million. Accéntuate said on Friday that its business had suffered on the back of depressed macroeconomic conditions, political uncertainty and a lack of confidence in the country.
Big ticket items in Budget were more miss than hit - Jamine Big ticket items in Budget were more miss than hit - Jamine
Published: 23 Feb 18
The Budget tabled on Wednesday had a number of misses, with one of the biggest being the failure to cut government's public servant remuneration, which was set to grow by 7% a year over the medium term, economist Dr Azar Jamine said on Friday. "It is earmarked to carry on growing as fast as it has in recent years and, instead, the reliance was on raising taxes in trying to close the gap in expenditure, and that is not sustainable to long-term growth," he pointed out during a business breakfast.
RBPlat expects lower full-year HEPS
Published: 23 Feb 18
Royal Bafokeng Platinum (RBPlat) expects to report headline earnings per share (HEPS) of between 51c and 60c for the year ended December 31 – a 30.8% to 41.2% decrease on the HEPS of 86.7c reported for 2016. Normalised HEPS, after adjusting for the impact of a restructuring charge and a one-off tax benefit in respect of the 2016 housing contribution, are expected to be 2.7% to 15.6% higher year-on-year, at between 64c and 72c, compared with normalised HEPS of 62.3c reported for 2016.
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