Afrimat posts strong interim results, with all segments contributing positively to growth

Midtier openpit miner Afrimat has confirmed it is in a healthy financial position and able to accelerate growth, after delivering a ‘pleasing’ performance in the six months ended August 31.

The group posted an operating profit of R582-million, up 65% on the R353-million operating profit generated in the six months ended August 31, 2020. The operating profit margin also improved from 22.7% to 24.1%.

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Urgent need to address grid constraints in high-yield renewables areas – Magoro

Grid constraints in South Africa’s high-yield renewable-energy areas need to be addressed urgently, Independent Power Producer (IPP) Office CEO Bernard Magoro has again warned. Reflecting on the lessons learned from the most recent renewables procurement round during a Power Futures Lab webinar, Magoro said that government had been unable to procure several extremely competitively priced projects during bid window five (BW5) because of an absence of grid capacity.

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Redefine Properties appoints new company secretary

JSE-listed diversified real estate investment trust Redefine Properties has appointed Anda Matwa as company secretary, effective December 1.

She joins Redefine from industry peer Attacq where she was the company secretary.

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$8.5bn climate package an ‘important first step’ in South Africa’s just transition

Eskom CEO Andrè de Ruyter describes the $8.5-billion (R131-billion) financing package announced at COP26 as “an important first step” in light of the fact that South Africa’s energy transition is expected to require investments of between $30- and $35-billion over the coming 15 years. He says that funding – pledged as part of a political agreement concluded with France, Germany, the UK, the US and the European Union – will support a socially and economically just energy transition in South Africa, while enabling the country to meet its new Nationally Determined Contribution (NDC) targets.

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Mantashe wants new energy council to speak as one, not as competitors

Mineral Resources and Energy Minister Gwede Mantashe has expressed optimism that the newly established Energy Council of South Africa will provide a platform for greater coordination and cohesion within the sector, which has hitherto approached government and debates on the energy transition as “competitors” rather than as a unified voice. The CEO-led council was officially launched on Tuesday and includes representatives from Eskom, Sasol, the Central Energy Fund, Anglo American Platinum, Exxaro, TotalEnergies South Africa and the Industrial Development Corporation, as well as Business Unity South Africa, the Black Business Council, the National Business Initiative, the South African Petroleum Industry Association, Naamsa | The Automotive Business Council and the Minerals Council South Africa.

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NBI study sees role for gas in South Africa’s transition to low-carbon economy

A new National Business Initiative (NBI) study offers support for gas as a transition fuel in South Africa’s shift from coal in the production of electricity and synthetic fuels (synfuels). The study stresses, however, that this role should be confined in the electricity sector to the provision of flexible balancing capacity for the country’s growing fleet of variable renewable-energy generators rather than to offer so-called baseload. In the manufacture of synfuels, meanwhile, it is regarded as a lower-carbon replacement for coal, until cleaner solutions, such as green hydrogen, are fully commercialised.

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