R/€ = 14.95 Change: -0.05
R/$ = 12.19 Change: -0.02
Au 1334.80 $/oz Change: 6.68
Pt 1013.00 $/oz Change: 14.93

Kim Cloete

Angry former Eskom CEO gives State capture testimony

27th October 2017 Former Eskom CEO Brian Dames has revealed that he faced a breakdown in communication between the board and management, as well as death threats during his time at the state utility.  He has also told Parliament’s Portfolio Committee on Public Enterprises that there is "absolutely no need" for... 

Oil prices still struggling but huge potential ahead for Africa

26th October 2017 Experts from UK-based Standard Chartered Bank expect the oil price will remain in the $45/bl to $60/bl-plus range. “We are in a lower for a longer cycle,” Standard Chartered Bank global head of energy and natural resources Peter Gaw told delegates at the Africa Oil Week, in Cape Town. 

Outa accuses Eskom consultants of ‘gambling’ with public money

19th October 2017 The Organisation Undoing Tax Abuse (Outa) has alleged that Eskom consultants Trillian Capital Partners have been “dabbling” in derivatives and losing billions of rands in the process. “Trillian has been dabbling in derivatives with our public money, racking up losses of R27-billion,” Outa... 

Evidence of blatant corruption at Eskom unpacked at Parliament’s inquiry into State capture

17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has kicked off its inquiry into alleged State capture with a report revealing “overwhelming evidence of grand corruption”, governance failure and a stream of irregularities at Eskom, South Africa’s largest State-owned entity. Research... 

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has started its keenly awaited inquiry into allegations of State capture, with a warning that key witnesses will not be allowed to shy away from appearing before Parliament. “We have a right to subpoena a witness if we think that witness has... 

PetroSA upbeat about gas exploration

12th September 2017 Despite a slowdown in exploration and an underinvested industry, South Africa still holds great prospects for exploration in gas, believes PetroSA chief geophysicist Peter Dekker. He told delegates at the South African Geophysical Association (Saga) conference, in Somerset West, that there were... 

Geophysicists urged to innovate amid tough times for exploration

12th September 2017 The state of exploration for oil and gas as well as mining is in a fix, with exploration spending having decreased by 69% in the last four years, delegates attending the South African Geophysical Association (Saga) 2017 conference have heard. Lockheed Martin business development manager Dan Di... 

Faced with shifts in technology, the mining industry will need to adapt

11th September 2017 The mining industry will need to adapt to ongoing changes in technology and involve all players in each step of the process, suggests change management analyst Petro du Pisani. Du Pisani from IntegriChange, who has a longstanding record in the mining industry, told delegates attending the South... 

Heavy haul rail industry urged to improve efficiencies

5th September 2017 The heavy haul industry should work hard to improve the efficiency of rail operations, cut costs of doing business and create internationally competitive supply chains, says Transnet Group CE Siyabonga Gama. He told delegates at the eleventh International Heavy Haul Association (IHHA) conference,... 

No corruption in nuclear negotiations, Eskom chief nuclear officer assures

18th May 2017 Eskom’s chief nuclear officer David Nicholls is still firmly committed to the principle that nuclear is the way to go for a sustainable energy future and says he knows of no corruption in negotiations on a deal to procure new nuclear energy capacity. “I’ve been in the middle of this deal for... 

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