Peroshni's Feed
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

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.

Oct 13, 2014

Social worker says Pistorius should get house arrest, community service

PRETORIA (Reuters) – South African track star Oscar Pistorius should serve three years of partial house arrest and community service for the negligent killing of his girlfriend, a witness said on Monday at the first day of the athlete’s sentencing.

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

Oct 13, 2014

Pistorius faces sentencing over girlfriend’s death after divisive trial

PRETORIA (Reuters) – Disgraced South African track star Oscar Pistorius arrived at the Pretoria High Court on Monday for a sentencing hearing that will determine whether he serves jail time for the negligent killing of his girlfriend, or walks out a free man.

A stony-faced Pistorius stared straight ahead as police officers escorted him into the court building. He declined to answer questions from the scrum of reporters but greeted his family inside the court with smiles and hugs.

Sep 23, 2014

South Africa says nuclear power deal with Russia in early stages

JOHANNESBURG (Reuters) – South Africa’s nuclear cooperation deal signed this week with Russia is part of a tender process that will involve other competing countries and is not a contract to build power plants, government officials said on Tuesday.

The Russian atomic agency Rosatom said on Monday it had signed a $10 billion deal with Pretoria to install 9.6 gigawatts of nuclear capacity by 2030 to help Africa’s most advanced economy cope with chronic electricity shortages.