Star 2023-12-13

SWISS commodity trading and mining company Glencore has been served with court papers by Richard Spoor Incorporated (RSI) for allegedly breaching their duties to mineworkers in South Africa. RSI yesterday launched its fourth and final application for certification of a class action against coal mining companies for their alleged breach of duties to mineworkers. The human rights law firm said in a statement it had filed the class action yesterday against Glencore Holdings in South Africa at the Gauteng Division of the High Court. This follows previous similar applications this year by RSI against South32 Group, the Anglo American Group and the Exxaro Group. RSI said it sought justice and compensation for mine workers who contracted lung diseases while working in the mines. The thousands of miners represented in each…

RGS GROUP Holdings, one of two short-listed bidders that aim to bring Tongaat Hulett out of business rescue, had lodged an urgent High Court application to force Tongaat’s business rescue practitioners (BRPs) to hold a creditors’ meeting tomorrow, and to ensure that RGS’s bid be put first on the agenda. RGS’s application had sought to be consolidated for a joint hearing with the applications filed by RCL Foods Sugar & Milling and the South African Sugar Association, who were attempting to stall Tongaat’s creditors’ meeting until certain industry levies and payments were made. The RGS application sought that the BRPs be ordered to convene the creditors’ meeting tomorrow (December 14), that the BRPs be prohibited from conducting a “Pre-Meeting Proxy Vote” to determine the sequence in which the two proposed…

THE PORT ELIZABETH bulk terminal successfully concluded its annual 10-day maintenance shutdown to ensure the seamless handling of manganese for the next 12 months, Transnet Port Terminals (TPT) said in a statement yesterday. “This was a planned initiative carried out in agreement with customers where bulk handling equipment like tipplers, stackers, reclaimers, ship- loaders, feeders and over 10 kilometres of conveyor belt system were all serviced,” it said. Annually, the terminal has capacity to handle six million tons of manganese as the industry continues to grow, with increased global demand. Wandisa Vazi, the managing executive of the Eastern Cape Terminals at Transnet Port Terminals, said it was important to ensure that the maintenance works started as scheduled and that the working environment was safe for employees. “The plant has…

Electricity Minister announces a Section 34 ministerial procurement determination THE GOVERNMENT’S decision to procure an additional 2 500MW of nuclear energy in the next 10 years has been met with mixed reactions by electricity industry experts as the Department of Mineral Resources and Energy (DMRE) is yet to release the updated Integrated Resource Plan 2023 (IRP 2023). This comes after Electricity Minister Kgosientsho Ramokgopa yesterday announced a Section 34 ministerial determination for the procurement of 2 500MW of new generation capacity from nuclear, following the approval of the National Energy Regulator of SA (Nersa). Ramokgopa said the DMRE had to satisfy a number of rigorous suspensive conditions required by Nersa, which take into account various factors before the go-ahead could be issued. After meeting all the suspensive conditions,…

As things stand now and if nothing changes, South Africa will see another petrol price decrease of more than R1 per litre as well as a drop of more than R2 per litre on diesel in January, the Fuel Retailers Association (FRA) forecasts. Reggie Sibiya, the CEO of FRA, said in an interview with Business Report that it was pleasing that fuel prices had come down over a long-term comparison. “In July 2022 the Litre of ULP95 inland was R26.74 and was this month sitting at R23.25, a decrease of 13%. How- ever, taking into account consumer hard- ships due to the economic pressures, one is mindful that more relief is required,” Sibiya said. Petrol is 22% more expensive than two years ago, and diesel 41%. South African have…

ON DECEMBER 5, 2023, the Department of Trade, Industry and Competition (dtic) published the Electric Vehicles White Paper (White Paper), which is South Africa’s first true policy pronouncement on the manufacture, sale and use of electric vehicles (EVs). Although South Africa is late to the party in the creation of such a policy document, the White Paper is a decisive step in the transformation of the South African automotive industry, and it is intended to lay the foundation for the development and implementation of a South African EV market. When we think about EVs, we typically imagine futuristic and sustainable transport that will play a large role in combating climate change. We do not, however, immediately consider the industrial challenges and opportunities that EVs may bring. The South African automotive…