Peroshni's Feed
Apr 14, 2015

South Africa’s Eskom to rehire fired workers at Medupi plant

JOHANNESBURG (Reuters) – South Africa’s Eskom (ESKDY.PK: Quote, Profile, Research, Stock Buzz) [ESCJ.UL] said on Tuesday it will rehire 1,700 employees fired after a strike at the Medupi power plant the utility is building, in an attempt to end a row that has hobbled construction at the facility.

The contract workers were dismissed on March 27 for vandalizing property during the one-day strike over better working conditions and higher pay. Thousands of their unionized co-workers stayed away from work on their own volition in solidarity with their fired colleagues, affecting construction.

Mar 31, 2015

Chairman of South African utility Eskom steps down

JOHANNESBURG (Reuters) – Eskom [ESCJ.UL] Chairman Zola Tsotsi has quit his post at the South African utility after growing criticism of his management, clearing the way, said a government source, for it to deal with the country’s electricity crisis without distractions.

Tsotsi resigned on Monday night before the board could vote on removing him for acting improperly by suspending the group’s chief executive and interfering in administrative issues.

Mar 31, 2015

South Africa’s COSATU expels general secretary

JOHANNESBURG (Reuters) – South Africa’s main trade union federation, COSATU, expelled Zwelinzima Vavi, its popular general secretary but a vocal critic of President Jacob Zuma and the ruling African National Congress, senior union sources told Reuters.

The decision was taken on Monday night after the Congress of South African Trade Union’s leaders decided Vavi had acted improperly by refusing to attend COSATU meetings and failing to endorse the expulsion of the National Union of Metalworkers of South Africa, the federation’s largest affiliate, sources said on Tuesday.

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

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.