Star 2025-09-08

JSE-listed Copper 360, which operates in the Northern Cape, has proposed a R1.15 billion rights issue and a restructuring of its debt. The mining company said in an announcement to shareholders on Friday that it was in the process of restructuring, aiming to raise sufficient funding for short- and medium-term growth, reduce the debt burden to improve profitability, and mine several orebodies with achievable growth potential. The share price slipped 1.4% to 70 cents on the JSE on Friday, well down from R3.25 that it traded at a year previously. Copper has surged onto the prospects of many mining groups due to raising demand for the metal in renewable energy technology, AI and data centres and due to its use in urbanisation and in infrastructure. Copper 360's directors said the…

Transnet’s annual results for the financial year ending 31 March 2025 reveal a promising financial turnaround for the state-owned logistics company, highlighting substantial revenue growth and notable improvements in operational efficiency. The results, unveiled on Friday, showed a 7.8% rise in revenue, amounting to R82.7 billion largely attributed to weighted average tariff increases, alongside volume gains in the automotive and rail sectors. In a year marked by comprehensive changes, Transnet reported a decrease in net operating expenses, falling by 4.9% to R52.1 billion. Additionally, the company showcased an impressive 39.4% increase in earnings before interest, taxes, depreciation, and amortization (Ebitda), reaching R30.6bn. The Ebitda margin, which stands at 37.0%, underscores the firm’s capacity for generating profit relative to its revenue. Despite the positives, Transnet concluded the year with a net…

Wave of layoffs sweeps through the country as 140 000 jobs lost in the three months to June The government has expressed deep concern over the implications of mass job cuts on the economy following retrenchment notices by a number of multinational corporations. Last week, Glencore Operations South Africa revealed its intention to retrench employees at its Rustenburg ferrochrome smelter and vanadium operations, citing insufficient electricity supply and a general “lack of sustainable industry solutions.” Companies who are considered intensive energy users have already sounded the alarm that the escalating costs of electricity could exacerbate job losses. Similarly, ArcelorMittal South Africa announced preparations to close its long steel mills resulting in the loss of over 4 000 jobs, attributing its plight to delays in addressing structural problems that have plagued…

Stakeholders in the electricity industry are voicing concerns regarding the capacity of the Energy Regulator of South Africa (Nersa) to fulfil its expanded role as South Africa navigates the complexities of its evolving energy market. This heightened scrutiny comes in the wake of a stakeholder engagement session held by the Portfolio Committee on Electricity and Energy, which included discussions with various stakeholders such as labour unions and the Just Energy Transition (JET) Project Monitoring Unit (PMU). During this session, Minister for Electricity and Energy Kgosientso Ramakgopa assured lawmakers that the revised Integrated Resource Plan (IRP) would soon be adopted by Cabinet, a critical step in the nation’s energy transition. However, Dr Wickus Kruger of the JET PMU highlighted the urgent need for Nersa to bolster its capacity through additional staff…

The recently released 8th annual SweepSouth Report on Domestic Worker Pay and Working Conditions paints a troubling picture of the lives of domestic workers in South Africa. The report, based on over 5 000 responses collected nationwide, reveals that the dramatic stall in the country’s economic growth is having a profound ripple effect on this critical workforce, predominantly made up of women aged 26 to 41. According to CEO Lourandi Kriel, South Africa’s economy has only managed a growth of 0.7% over the last decade, a stagnation that has forced consumers to reconsider their spending power. “The economic conditions have a ripple effect on domestic workers in that when an economy doesn't grow, you know consumers have either the same or less share of wallet and they need to decide…

Globalisation can be defined as, ”The growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Countries have built economic partnerships to facilitate these movements over many centuries.” Since one of four global economic shocks (black Swans) emerged in 2020 with the Covid-19 pandemic, followed by the Russia-Ukraine war (2022), the attack on Israel by Hamas (2023) and the introduction of tariffs on most developed and developing countries by the Trump administration (2025), the debate continues on whether globalisation has slowed down, or is even reversing. In the South African context, loadshedding has put a spotlight on the energy crisis, and the recent focus on the emerging Southern African “gas cliff” has further exacerbated…