Star 2023-07-14

Spare parts management is having great repercussions for maintenance AS SOUTH Africans face increased levels of load shedding this week there is hope on the horizon after Eskom has assured the public that it would soon be buying all the spares required to fix its frequently breaking coal-fired power plants from Original Equipment Manufacturers (OEMs) in a bid to improve its plant performance. Stage 6 is now expected on Saturday and Sunday. Eskom’s general manager for engineering Thomas Conradie yesterday said the power utility was busy investing in technologies and improving a process of better control of spares, from the receiving to storage, and inventory management. The struggling power utility has previously been accused of corruption in the procurement of quality spares at the right time and the right price…

SOUTH Africa is a step closer to establishing a State-owned bank after Gau- teng Finance MEC Jacob Mamabolo yesterday announced that the due diligence report on the entity had been finalised. Amid dominance of traditional lenders such as Standard Bank, Nedbank, FNB and Absa among others, South Africa has long mulled the idea of a State-owned bank, which could broaden financial inclusion, extending to township entrepreneurs among others, while also strengthening the economy. The report had been handed over to the Gauteng provincial government. “This is a major milestone that we have reached and gives the process of establishing the state bank a thumbs up. “We are now in a better position to move to the next level to consult with the Premier and consult broadly with stakeholders including the…

ACTIVITY in the mining sector in South Africa is expected to remain on a contractionary territory in the months ahead due to the return of heightened power cuts after surprising on the downside in May. Data from Statistics South Africa (StatsSA) yesterday showed that mining production unexpectedly shrank by 0.8% year-on-year in May following an upwardly revised 3.2% rise in April, dragged lower by the platinum group metal (PGMs) and diamond output. The May print worse than predictions of a 2.0% year-on-year expansion as output grew for the first time in April after 14 consecutive months of annual decline. StatsSA’s principal survey statistician, Juan-Pierre Terblanche, said that amongst the five major mining divisions, output in platinum group metals declined materially by 7.2% from a year ago after declining by 4.6%…

RMH HOLDINGS said yesterday a record- ing of a private conversation between RMH’s CEO Brian Roberts and CFO Ellen Marais mistakenly disseminated to the market on July 11, 2023, had since been removed. The group, which held an investor call on the day, had done a system test prior to the commencement of the formal results call, which had erroneously included the private conversation between RMH executives in preparation of the call, and which had been disseminated to the market. The recording had been replaced, the company said in a statement. “RMH acknowledges some of the contents of the private conversation is not in line with the standard of professionalism RMH or its employees have always adopted, for which we apologise,” it said. RMH said it would like to reiterate…

THE RAND GAINED strongly yesterday, touching its highest in more than three months and extending the previous day’s rally as cooling US inflation further dented the dollar. The risk-sensitive rand traded as strong as R17.9125 to the dollar by 5.10pm, its firmest since April 5. The dollar continued to slump on global markets in the wake of a slower-than-expected US inflation reading on Wednesday that raised hopes the Federal Reserve will hit the pause button on interest rate hikes after this month. The rand’s gains came despite local mining output declining by 0.8% in May following a revised rise of 3.2% in April. Miners face headwinds including the worst rolling blackouts on record, a major drag on power-hungry sectors. Senior economist at FNB Thanda Sithole said the decline in mining…

THE UPTAKE of electric vehicles in South Africa is expected to increase as more charging stations and new vehicle models become available, Mercedes-Benz South Africa co-CEO and executive director Mark Raine said at the opening of the Mercedes-Benz Constantiaberg dealership in Cape Town’s southern suburbs yesterday. The dealership is owned by Super Group Dealerships and is the second in South Africa that has adapted to the Mercedes-Benz luxury retail brand appearance since the global launch in 2018 and South African launch in 2019. Rainer also provided a “sneak pre- view” of the 7th Mercedes-Benz fully electric model intended for the South African market soon, the EQS SUV. Super Group Dealerships CEO Graeme Watson said in an online briefing more of the luxury consumer-centric dealerships would be opened around the country,…