South Africa’s mining sector delivered a solid financial performance for the 2020-2021 financial years with value delivered to all stakeholders despite the current challenging pandemic environment. The excellent financial performance resulted in mining companies being in a very strong financial position, with record distributions to shareholders and more than a tripling in taxes paid. Debt
Italian oil and gas major Eni has started production from its Cabaça North development project in the Eastern area of Block 15/06 in deep waters offshore Angola using the Armada Olombendo FPSO. Eni said that the Cabaça North development, with an expected peak production rate in the range of 15,000 bopd, will increase and sustain
The Republic of Zimbabwe pledged its commitment to nuclear safety and security this by depositing legal instruments, thereby becoming a party to various international treaties under the auspices of the International Atomic Energy Agency (IAEA). Soda Zhemu, Minister of Energy and Power Development, handed over the instruments to IAEA Director General Rafael Mariano Grossi at
South Africa’s state-owned power utility posted a fourth consecutive annual loss as it continued to service a mountain of debt, repaired aging plants and lost electricity revenue because of a drop in demand caused by the coronavirus pandemic. Eskom Holdings SOC Ltd.’s loss narrowed to 18.9 billion rand ($1.31 billion) in the year through March,
The South African National Roads Agency (Sanral) and the Department of Transport, have started upgrading the N3, connecting Johannesburg and Durban. The Department of Public Works and Infrastructure (DPWI) said that, ‘’the project will see much-needed road expansion and upgrades to the N3 between Cato Ridge and Dardanelles and the N3 between Dardanelles and Lynnfield’’.