Current Edition >> Archives Section >> Business Pointers >> March 2002
• IDC currently scrutinizing some 60 major projects: The scope of the IDC (Industrial Development Corporation) is continuously widening, including the African continent to an increasing extent. What is in IDC terms a mega project, requires a capital outlay of at least R100 million. At least 60 such projects are being reported as currently being scrutinized by the IDC. Four of the potential projects - in different parts of the continent - are in the telecommunications sector. A further 11 projects pertain to the construction of tourism and other infrastructure in Southern Africa, while four projects in the oil and gas industry are also under consideration. Other projects are in the agricultural, mining and minerals sectors - both in South Africa and beyond. The IDC either takes equity stakes in the projects it is involved in or provides debt finance only.
• De Beers wins helfte minder: Die wins van De Beers, grootste diamantgroep in die węreld, het vir die boekjaar eindegende Desember 2000 met die die helfte gedaal vanaf $1,7 miljard tot $817 miljoen. Dit word toegeskryf aan die węreldwye ekonomiese afplatting en die gevolglike daling in vraag na ongeslypte diamante.
• Africa's first rare-earth mine near Vanrhynsdorp: The Steenkampskraal Mine near Vanrhynsdorp in the Western Cape, entailing the refurbishment of an Old Anglo American mine where the mineral monazite was mine, is to be the first rare-earth mine on the African continent. The project is being developed by the Rare Earth Extraction Company (Rareco) and is to provide 3% to 4% of the world's consumption of rare-earth metals. Approval for funding worth R16 million has been received from the IDC, while financing is to be tied up by an investor abroad for the balance of the project.
• New ferro-chrome smelter near Machadodorp: The new R375 million state-of-the-art ferro-chrome smelter recently opened by Assmang at it Machadodorp works is considered to be of the best in the world. It is also to generate R1 billion a year of exports for South Africa. The development is a follow-on from the opening of Assmang's new chrome mine at Dwarsrivier some 120 km north of Machadodorp, with the chrome being transported by road and rail to the works. The Machadodorp works is both ISO 9002 and ISO 14001 certified - the latter being environmental accreditation. The entire operation gives a boost to the strength of the local provincial economy.
• E-commerce climbing: According to the World Wide Worx, e-commerce should grow significantly in the next three years before easing. There are now 270 e-shops in SA and e-traders like Kalahari.net experienced at least 100% turnover growth in December compared to a year ago.
• East London IDZ well underway: Fast progress is being reported on the planned East London IDZ. Once the design is completed, earthworks for phase 1A and 1B will begin, involving R270 million worth of infrastructure development, including internal service to the tune of R165 million. Investments of R400 million have been concluded for phase one of the IDZ, comprising, inter alia an open industrial park and a duty-free zone.
• Stateprop: The Dept. of Public Works has set up a separate company to manage it's R120 billion-property portfolio. Temporarily named Stateprop, it has Government's approval to appoint private sector experts at market-related salaries.
• Zimbabwean cost to Southern Africa: Zimbabwe's political strife could cost southern Africa more than $35 billion, warns the Brussels-based International Crisis Group. Meanwhile, according to a study commissioned by the American Chamber of Commerce, SA has already lost more than $3 billion of prospective investment, i.e. roughly R34,5 billion.
• Electricity and solar power switch-ons for homes: The Dept. of Minerals & Energy has earmarked R950 million in the 2002/03 financial year for electrification to some 260 000 households and 1 250 schools and clinics. Of these, it is estimated that some 70 000 connections will be off-grid. Meanwhile in KZN the off-grid concessionaire, Nuon Raps, is due to begin installing solar home systems in 50 000 households.
• SA katoenoes minder: Volgens Katoen SA sal die katoenoes in die land vanjaar na verwagting 45% minder wees as die vorige seisoen omdat die internasionale katoenprys met planttyd in November baie laag was. Die aantal hektaar wat beplant is, het met sowat 40% gedaal weens swak prysvooruitsigte en die aantrekliker opbrengste van mededingende gewasse. Die katoenprys was verlede jaar die laagste in 30 jaar - oorproduksie in lande soos Amerika, waar boere subsidies kry, het tot 'n ooraanbod gelei.
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