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VEHICLE and auto part exports increased by a hefty R31.8 billion, or 18.1 percent, last year to a record R207.5bn. Dr Norman Lamprecht wrote in the Automotive Export Manual, which was published on Friday, that last year’s exports had comprised a whopping 12.5 percent of total South African exports. Challenges to the industry last year included the Covid-19 pandemic and supply chain disruptions. Economic damage from the conflict between Russia and Ukraine is expected to contribute to a significant slowdown in global growth in 2022 and add to inflation, Lamprecht said. He said the local motor industry had sharply rebounded last year from the lows of 2020, but the growth was not sufficient to return to pre-pandemic level production, he said in the report released on behalf…
COAL producers should plan for a minimum 60 million tons (Mt) of coal railed to the Richards Bay Coal Terminal (RBCT) this year after it fell to only 58.7 Mt in 2021 from 76.5 Mt in 2017, Transnet’s Ali Matola told the 17th McCloskey Southern African Coal Conference on Friday. He said the problems in logistics at Transnet Freight Rail (TFR) were not unique to TFR, but they were working every day to improve service delivery. “I am responsible for the ore link and on that link we have seen a 10% improvement over the past six months, and as far as I am aware we had a 100 000 tons per week improvement compared with the prior six months on the coal line before the April floods,” he said.…
SANTAM, the leading non-life insurer, has increased its stake in Indwe Broker Holdings by acquiring the shareholding from African Rainbow Capital (ARC) and Sanlam. The transaction makes Indwe a wholly-owned subsidiary of Santam and includes Indwe Risk Services, the personal and commercial arm of Indwe, as well as Indwe BlueStar, the financial services arm of Indwe, a statement said on Friday. “Santam has been a significant shareholder since Indwe’s inception. This transaction cements the relationship and enables us to create a stronger presence in the industry. It also highlights their ongoing confidence in the business,” said Indwe CEO Peter Olyott. A second development in the business was the formation of Simah Risk Holdings, created by moving the large corporate and specialist offerings out of Indwe. This business would be owned…
SOUTH Africa’s commitment to reduce its carbon emissions footprint took a step forward last week with the mining industry unveiling a new piece of equipment set to move the sector towards a carbon-neutral future. Anglo American on Friday launched a prototype of the world’s largest hydrogen-powered mine haul truck – designed to operate in everyday mining conditions – at its platinum group metals mine in Mogalakwena, Limpopo. The 2MW hydrogen-battery hybrid truck, generating more power than its diesel predecessor and capable of carrying a 290 ton payload, is part of Anglo American’s nuGen Zero Emission Haulage Solution (ZEHS). Anglo American said nuGen provides a fully-integrated green hydrogen system, consisting of production, fuelling and haulage system, with green hydrogen to be produced at the mine site. Chief executive Duncan Wanblad said…
THE Minerals Council South Africa said on Friday that there were no fatalities related to Falls of Ground (FoG) in gold and platinum group metals (PGM) mines in the first quarter of 2022 – a historic first for the mining industry. Dr Sizwe Phakathi, the head of Safety at the Minerals Council, said: “This is the first time ever that our gold and PGM mines have not had a Fall of Ground fatality in the first three months of the year … These things don’t just happen. A lot of effort goes into these safety initiatives.” Managing the FoG risk was one of global mining’s most difficult challenges, the council said. Mine safety came under renewed scrutiny by the Minerals Council and its 78 members after two successive years of…
TODAY the 2022 Investing in Africa Mining Indaba four-day conference kicks off in Cape Town under the theme, Evolution of African Mining: Investing in the Energy Transition, ESG, and the Economies, at a time commodities are bullish on Ukraine war tensions. The indaba is back following a two-year hiatus due to Covid-19 restrictions and resulting social and economic considerations. This year’s indaba will bring together global leaders, captains of the industry and investors to engage on the future of mining and explore ways of attracting investments in African mining. Delegates are further expected to examine challenges faced by the industry and explore opportunities to be embraced amid concerns regarding climate change and the impact of the Covid-19 pandemic. Industrial Development Corporation CEO TP Nchocho said mining remained the backbone of…
