LEPHALALE, South Africa, Aug 30 (Reuters) – President Jacob
Zuma opened South Africa’s first new power plant in 20 years on
Sunday with a warning that the country’s perennial energy
shortages were hampering economic growth.
Construction on the six-unit, 4,764 MW Medupi plant near
Lephalale, about 350 km north of Johannesburg, was started in
2007 but the first 794 megawatts (MW) only came online this week
after delays due to strikes, technical issues and cost overruns.
JOHANNESBURG, Aug 20 (Reuters) – South African coal miner
Exxaro reported 62 percent fall in half-year earnings
on Thursday and said it would look to diversify local sales in
the face of a global glut that threatens to further hurt
Diluted headline earnings per share fell to 303 cents from
790 cents a year earlier. It had warned in May that it expected
a fall of at least 20 percent.
JOHANNESBURG (Reuters) – Oscar Pistorius will not be freed on parole this Friday because the decision to do so was made without the right legal basis, South Africa’s justice minister said on Wednesday, shocking the athlete’s family as they prepared for his homecoming.
The former Paralympics gold medalist had been expected to be released after serving 10 months of a five-year sentence for killing his model and law graduate girlfriend Reeva Steenkamp on Valentine’s Day 2013.
JOHANNESBURG (Reuters) – South Africa’s justice minister said on Tuesday he was seeking legal advice on whether its parole board was right to decide to free Oscar Pistorius on house arrest on Friday after serving a sixth of his five-year sentence for killing his girlfriend.
“Whether that decision of the parole board was regular and correct in law is what I am seeking advice about, and if it wasn’t, whether there is anything that empowers me in law to have the matter revisited,” Justice Minister Michael Masutha told Reuters.
JOHANNESBURG, Aug 18 (Reuters) – Miner and commodity trader
Glencore is considering closing its Eland platinum mine
in South Africa due to falling prices, it said on Tuesday.
“Glencore has informed the Department of Mineral Resources
and relevant unions of the potential closures,” the company said
in a statement, adding that it had also begun discussions with
trade unions about possible job losses.
JOHANNESBURG, Aug 13 (Reuters) – Power cuts in 15
Sub-Saharan African countries could become an “exception” rather
than a norm in 10 years time, with private capital expected to
play an increasingly bigger role, PricewaterhouseCoopers (PwC)
said in a survey on Thursday.
Africa’s installed power generation capacity is expected to
quadruple to 380 gigawatts (GW) in 2040 from 90 GW in 2012,
boosted by private investment, green energy initiatives and
cross border energy trade, the survey showed.
JOHANNESBURG, Aug 12 (Reuters) – Wage negotiations between
workers in South Africa’s coal sector and the employers’ body,
the Chamber of Mines, were deadlocked late on Wednesday and will
now go to mediation.
“The employer came back with nothing after we rejected their
offer. We have declared a dispute and will go through a
mediation process,” Peter Bailey, the coordinator for National
Union of Mineworkers told Reuters.
JOHANNESBURG, Aug 11 (Reuters) – South Africa’s
cash-strapped power utility Eskom said it plans to
borrow more than 20 billion rand ($1.6 billion) from the
domestic market and international bonds and would renegotiate
coal contracts to cut costs.
Eskom has already raised 49.5 billion rand in external
funds, easing liquidity pressures, Chief Executive Brian Molefe
said in a results presentation on Tuesday.
JOHANNESBURG, Aug 5 (Reuters) – Unions representing workers
at South African coal producers have dismissed a wage offer from
employers’ body, the Chamber of Mines and said negotiations were
“not making progress”, setting the stage for a potentially
Workers want pay increases of up to 15 percent, while the
chamber – which represents firms such as Glencore,
Anglo American Coal and Exxaro – has offered a
three-year wage deal with pay raises of between 4 to 6.5
JOHANNESBURG, Aug 4 (Reuters) – A judge threw out corruption
charges against South African opposition firebrand Julius Malema
on Tuesday, a ruling hailed as a major victory by the vocal
critic of President Jacob Zuma.
Malema had been accused of money laundering, racketeering
and fraud relating to government contracts. But Judge George
Mothle said he had waited too long for his trial after a string
of postponements, telling him: “You are free to go.”