Peroshni's Feed
Mar 27, 2015

South Africa’s Eskom fires 1,000 workers as crisis deepens

JOHANNESBURG (Reuters) – South African utility Eskom [ESCJ.UL] fired 1,000 workers at a power plant on Friday and its chief executive failed to overturn his suspension, worsening the turmoil at the company.

Africa’s most advanced economy is suffering its most severe power shortage since 2008 as state-owned Eskom struggles to keep the lights on.

Mar 27, 2015

South African court rejects Westinghouse’s challenge to Eskom nuclear contract

JOHANNESBURG (Reuters) – A South African court dismissed on Friday an application by Westinghouse Electric Company to re-open the bidding process for a generator contract awarded to French rival Areva, a court official said.

Westinghouse, the world’s largest nuclear fuel producer and part of Japan’s Toshiba group, had contested South African power utility Eskom’s [ESCJ.UL] decision to award a 4 billion rand ($334 million) contract to Areva in August, saying the process was flawed.

Mar 26, 2015

South Africa’s Eskom halts work at strike-hit power station

JOHANNESBURG, March 26 (Reuters) – South Africa’s Eskom
said striking workers had destroyed property at the
Medupi power plant it is building, the state-owned group closing
the site on Thursday to assess the damage.

Labour disruption and technical faults have increased costs
at the long-delayed Medupi coal plant, expected to start
generating 800 megawatts of extra electricity by July. It would
become South Africa’s first new power station to come online in
20 years and help to address a chronic supply shortage.

Mar 12, 2015

S.Africa’s Eskom CEO suspended during inquiry into struggling firm

JOHANNESBURG, March 12 (Reuters) – The chief executive of
South Africa’s power company Eskom has been suspended
while an inquiry is held into the operations of the troubled
utility, its chairman said on Thursday.

Eskom, which provides virtually all the electricity in
Africa’s most developed economy, is facing a funding crunch as
it races to bring new power plants online and has had to stage
power cuts to prevent the grid from being overwhelmed.

Feb 11, 2015

Blackouts force S.Africans to cut reliance on erratic power grid

JOHANNESBURG, Feb 11 (Reuters) – With power outages now a
daily reality in South Africa and expected to last for the next
three years, business and individuals are taking matters into
their own hands.

Africa’s most advanced economy is experiencing its worst
electricity crisis since 2008 with state power firm Eskom
implementing rolling blackouts as its old creaking
grid struggles to meet growing demand.

Feb 10, 2015

S.Africa’s Kumba cuts costs to counter lower iron ore prices

JOHANNESBURG, Feb 10 (Reuters) – South Africa’s Kumba Iron
Ore plans to cut jobs, production costs and capital
spending to cope with expected weak prices of the commodity this
year, it said on Tuesday, after reporting a fall in 2014
earnings.

The Anglo American subsidiary, whose shares fell
around 3 percent in early trading, said crude steel production
was forecast to recover slowly this year, hampered by weaker
growth in China, the main consumer of its iron ore exports.

Jan 30, 2015

S. African power cuts hold off doomsday as sector seeks rescue

JOHANNESBURG, Jan 29 (Reuters) – Days of rolling blackouts
this week have blighted South African society and business, and
they face an increasing number of outages in years to come. But
the alternative, a grid collapse, could be catastrophic.

Bordered by tiny, war-scarred or impoverished states such as
Botswana, Mozambique and Zimbabwe, Africa’s most advanced
economy cannot rely on help to power its 42,000 MW electricity
network and has nobody to turn to if the lights go out.

Nov 11, 2014

South Africa’s AngloGold Ashanti to cut jobs

JOHANNESBURG, Nov 11 (Reuters) – South Africa’s AngloGold
Ashanti plans to cut staff through voluntary severance
packages as the bullion producer feels the pinch of lower gold
prices and rising costs, it said on Tuesday.

A union source close to negotiations with the company said
1,200 positions were affected in South Africa, with AngloGold
considering moving 300 staff into other positions and laying off
900 employees.

Nov 5, 2014

Harmony Gold considers South African job cuts as gold price slumps

JOHANNESBURG, Nov 5 (Reuters) – South African miner Harmony
Gold reported a further quarterly loss on Wednesday and
suggested it might have to cut jobs as it contends with a
depressed gold price and operational problems which include an
escalating battle with illegal miners.

Unveiling its results for the three months to end-September,
the company said losses narrowed by 78 percent to 226 million
rand ($21 million), as production rose by 6 percent to just over
303,000 ounces.

Oct 14, 2014

Prison would “break” Pistorius – defense witness

PRETORIA (Reuters) – South African athlete Oscar Pistorius would be “broken as a person” if he were jailed for killing his girlfriend because of his disability and psychological problems, a defense witness at his sentencing hearing said on Tuesday.

The 27-year-old Paralympic and Olympic athlete, whose lower legs were amputated as a baby, was convicted of culpable homicide last month for shooting dead his girlfriend, law graduate and model Reeva Steenkamp, 29, on Valentine’s Day 2013.