Current Edition >> Archives Section >> Spot Coverage >> April 2008
BER latest economic forecast: The University of Stellenbosch's Bureau for Economic Research (BER) is forecasting that South Africa's power crisis and the looming US recession will bring the country's economic growth levels down to between 3,4 % and 3,9% for 2008, recovering however by 2009. The BER says that it is tricky to say at present exactly what Eskom's short-comings are having on the country's economic growth. The BER says that while South Africa's consumer price inflation index is expected to average at 7,4% in 2008, it is likely to peak at 9% this month, before easing to an average of 5,8% over 2009. The BER expects exchange rates to remain unchanged for 2008.
Harmony Gold strongly recovering: Harmony Gold, with Graham Briggs having succeeded Bernard Swanepoel as CEO in 2007, is showing strong growth recovering results. Mining Weekly is reporting that Harmony's margin of R30 000/kg for the last six months is set to become three times higher at R90 000/kg in the next six. Harmony's cash costs in the last six months were R133 000/kg with gold at R163 000/kg, but gold has since risen to R223 000/kg, allowing Harmony to look at R90 000/kg going forward. Harmony is currently in its biggest year of capital expenditure, with more than R4 billion to be spent on the company's growth projects. Capital expenditure for next year already stands at R2,5 billion.
Matjhabeng huur brandweerwaens van Brittanje: Die Matjhabeng Plaaslike Munisipaliteit is in 'n proses om sewe brandweervoertuie vanaf Brittanje te huur. Die eerste twee voertuie het reeds in Welkom aangekom en die volgende vyf volg binnekort. Die brandweervoertuie word deur Fire Trucks 4 Africa van Brittanje teen R8 000 per voertuig per maand uitgehuur. Hoewel die voertuie tweedehands is, is hulle nog in 'n baie goeie toestand en volledig toegerus. Die voertuie word ten volle deur Fire Trucks 4 Africa onderhou, met 'n huurkontrak van vyf jaar reeds onderteken en wat later verleng kan word. Die Munisipaliteit hoop om later die voertuie te koop. Die toerusting van R65 000 per voertuig behoort aan die munisipaliteit.
Kroonstad verloor blykbaar ekonomiese inspuiting a.g.v. verblyfprobleme: 'n Moontlike geldelike inspuiting van 'n geskatte R7 miljoen vir Kroonstad gaan blykbaar verlore omdat die nasionale Bokkieweek waaraan nagenoeg 2 250 rugby-, netbal- en hokkiespelers deelneem, na Naboomspruit verskuif gaan word omdat die Hoërskool Kroonstad (Blouskool) sy koshuisgeriewe met 'n paar honderd beddens vir die geleentheid onttrek het. Volgens die skool is die onttrekking a.g.v. vandalisme aan koshuiskamers deur spanne verlede jaar tydens die Bokkieweek en wat die skool derduisende rande aan herstelwerk uit die sak gejaag het. Buitendien sê die skool dit het intussen langtermyn verblyfkliënte bekom by Murray & Roberts en die De Beers Myngroep.
Ladybrand Chamber news: The Ladybrand Chamber of Commerce and Industry has elected its new office bearers as follows: President: Rassie van der Westhuizen; Vice president: Deon Viljoen; Secretary: Marietha Tromp; additional members: Dries Muller (OVK), Altus Pieterse (SA Mortgage), Christo Diedericks (Standard Bank), Marlene Nel (TY Distributors) and Nicholas Schori (Ladybrand Spar). Good Service awards for 2007 were handed over to Standard Bank (first place) and NMR Stationers and Mica (joint second place). Nel was also acknowledged for her outstanding service as the Chamber's president for 2007.
Upgrade of Bloemfontein airport runway: ACSA has announced that with the upgrading of the runways, taxiways and aprons of the Bloemfontein Airport with a view to 2010, the airport will be shut down temporarily over a period of the two weekends of 19 April and 26 April 2008. This will mean that the shut-down will commence from Saturday after the last flight has departed and will reopen on Monday at 06:00 on the two respective weekends. The upgrading project is estimated to cost about R121 million, with a further project in the pipeline for an additional aircraft parking stand at R7 million.
Free State district municipalities amongst he worst: According to the 2006/07 Assessment published by the Municipal Demarcation Board, nine district municipalities in SA fall in the lowest category of performing only 25% or less of the functions it is supposed to do and all five district municipalities in the Free State are amongst these nine. Thus the district municipalities of Fezile Dabi, Lejweleputswa, Motheo, Thabo Mofutsanyane and Xhariep are amongst the worst of their kind in SA. The report furthermore indicated that 73,9% of the country’s 46 district municipalities perform less than 50 % of the functions that they are supposed to do. Of the 231 local municipalities in SA 52% perform less than 50%. In general the assessment reflects a picture of incompetence and incapacity within SA municipalities. For more info, visit www.demarcation.org.za
As part of a community support programme, the Voorspoed Diamond Mine near Kroonstad earmarked an amount of R3,7 million to upgrade and supply streetlighting in various townships in the Ngwathe Local Municipal area. Mr. Andy Taylor, Operations Manager of Voorspoed Mine, said this social responsibility project was initially scheduled for completion in October 2008, but due to excellent co-operation it was done already by November 2007. New high mast lights were installed in Kwakwatsi (13), Koppies (4) and Tumahole at Parys (4), while Kwakwatsi received 25 new streetlights. Streetlights were also refurbished in Kwakwatsi at Koppies (80), Phiritona at Heilbron (136), Mokwallo at Vredefort (64), Edenville (80) and Tumahole at Parys (263).
It is being reported by Mining Weekly that Harmony Gold is to sell its prospecting rights on farms near its Tshepong and Target mines in the Free State to African Precious Minerals for R52,5 million. Harmony is to receive R1.5 million APM shares and R1.5 million half warrants for the Free State rights, as well as a 1,5% net smelter royalty on all minerals extracted amounting to a maximum amount of R150 million. This transaction forms part of Harmony’s stated intention to optimize value to its latent and low priority assets. The transaction is seen as another major BEE step in the mining industry in the Free State province.the larger picture, Harmony Gold is currently developing a number of projects in South Africa, including the Elandsrand and Doornkop mines, the Phakisa project and the Tshepong decline development. The company has also mining activities in Australia and Papua New Guinea. Harmony Gold is listed on the JSE, the NYSE, the Nasdaq, the LSE, the Euronext in Brussels and Paris and on the Berlin Stock Exchange.
Die kragsentrale van die Moqhaka Munisipaliteit te Kroonstad beskik steeds oor 'n lisensie om krag op te wek - aldus die Munisipale bestuurder, Mlokete Duma, soos gerapporteer in die koerant Kroonnuus. Die berig lei verder dat 'n ooreenkoms tussen die munisipaliteit en Bio Energy Africa gesluit is om die kragsentrale spoedig weer operasioneel te kry met die implementering van Fase 1 van die ooreenkoms met Bio Energy Africa. Die uiteindelike oogmerk is om krag met bio-energie in die vorm van sonneblomolie op te wek. “Bio Energy Africa beskik oor kapitaal om die kragsentrale op te knap, sodat krag met steenkool en water by die kragsentrale vir Fase 1 opgewek kan word”, sê Duma. Die bio-energiekragopwekkers word in Finland vervaardig en voorbeelde van suksesvolle bio-energiekragsentrales is veral in Italië te sien. Die lisensie waaroor Moqhaka Munipaliteit beskik, is om nagenoeg 30 MW krag op te wek. Krag word opgewek deurdat steenkool verbrand word om water te verwarm om stoom te kry. Die stoom dryf turbines aan wat op hul beurt weer die opwekkers aandryf. Sonneblomolie word gebruik om krag op te wek, wat steenkoolverbranding uitskakel aan die landbougemeenskap en die geleentheid bied om sonneblom vir die ekstraksie van olie aan die kragsentrale te lewer. Volgens Duma sal nagenoeg 4 800 ha se sonneblomproduksie per jaar in die aanvangsfase vir die bio-kragopwekking benodig word. 'n Vergadering vir alle belanghebbendes word eersdaags belê. Dit sluit die boeregemeenskap in, omdat die rouproduk juis van die sektor moet kom. Vir meer inligting, kan 056-216-9104 geskakel word.
Something new and something old was at the order at the 2008 Absolute Style Bride & Fashion Show held 1-2 March 2008 at the UFS Callie Human. Supermodel, Christina Storm officialed. Presented by BloemVisie there was just about everything at the show an engaged couple would need to plan their perfect day. about 80 exhibitors ranging from wedding and event consultants, florists, suppliers for exotic destinations, photographers, catering services, wedding cake specialists, beauty salons, wedding stationery suppliers, various wedding dress designers, you name it, showcased. The fashion show on 1 March 2008 included “Dream to be different” outfits along with lingerie and evening wear. Pictured, at the show, SA supermodel from Cape Town, Christina Storm, going through her paces on the catwalk.
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