In what has been the longest economic downturn for the country since 1945, it has become necessary for government to consider alternative strategies and change various policies to allow business to grow the economy, Minerals Council South Africa CEO Roger Baxter said during a media briefing on Friday.
Ahead of the National Budget speech to be delivered by Finance Minister Tito Mboweni next week, the council gave its insight into what it feels the South African economy – and mining industry – needs.
A scoping study is under way to into the potential of self-generating electricity for Assmang’s mines – but not its smelters, Assore CEO Charles Walters said on Friday, when the company reported interim results that were negatively affected by weaker chrome and manganese prices, and lower shipments of iron-ore in the six months to December 31. Assmang, which Assore owns jointly with Patrice Motsepe's African Rainbow Minerals, provides three of Assore’s four commodities – iron-ore, manganese ore and manganese alloys – and Assore’s exposure to chrome ore is through its ownership of the Dwaarsrivier Chrome Mine.
Nigeria will build the second-largest hydroelectric plant in Africa after the government settled a legal dispute that was delaying the project, Power Minister Sale Mamman said. “We have now overcome the major problem stopping this project and it is nearly over,” Mamman said in an interview in Abuja, the capital. He said Attorney General Abubakar Malami is finalising the terms of the settlement, which are undisclosed.
Business Unity South Africa (Busa) has said it broadly opposes Eskom’s regulatory clearing account (RCA) application for 2018/19 and any future RCA applications that would result in electricity price increases excessively beyond those already granted by the National Energy Regulator of South Africa (Nersa) for the fourth multi-year price determination (MYPD4) period. In a statement issued on Friday, the organisation said further increases in electricity tariffs will render significant and possibly permanent curtailment of many of South Africa’s industries.
As South Africa prepares to restart its electricity procurement programmes, following a five-year hiatus, the global popularity of competitive auctions as the preferred instrument for procuring renewable energy has again been highlighted in a newly released report. Published by the International Renewable Energy Agency (Irena) this week, the report states that 106 countries had adopted competitive procurement for renewable-based electricity by the end of 2018, up from only eight in 2005.