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Standard bank to pursue clean energy projects in emerging markets PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Thursday, 14 October 2010 00:53

Standard Bank has announced that it has agreed to partner Australian firm Cool nrg to pursue clean energy projects in emerging markets. The bank said it planned to leverage off Cool nrg's Mexican experience, where it designed and managed a light bulb replacement plan.

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Is it Sunset for Jimmy Manyi at the BMF PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Wednesday, 06 October 2010 09:55

The Black Management Forum holds its annual general meeting (AGM) today amid tensions in the organisation and a deeply divided board following a recent pronouncement made by a committee of former BMF leaders that the forum's president Jimmy Manyi should resign, just a year after he started his second term. However, the members of the organisation appear to be fully behind Manyi and are determined to see their leader countinue at the helm of the organisation to finish his second term. They have vowed to deal with those in the BMF who are trying to undermine the struggle for transformation and equity by removing one of the vocal and outspoken leader of the forum against the slow pace of transformation in South Africa.

Last Updated on Wednesday, 06 October 2010 09:57
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Harmony to resume mining at Bambanani PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Monday, 04 October 2010 15:13

Harmony Gold has announced that it would resume operations at its Bambanani mine today following a tremor and the death of two miners that led to the suspension of production last week. "Operations at Bambanani will resume on Monday, October 4," the company said in a statement. The Free State mine produced 1 170 kg of gold during the April-June quarter. The South African mining industry is under intense pressure to reduce mining deaths. Minister of Mineral Resources Susan Shabangu has issued a stern warning to the mines which do not comply to safety regulations and has announced a multimillion-rand plan to improve enforcement and prosecutions.

Last Updated on Monday, 04 October 2010 15:15
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Transnet eyes old Durban Airport PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Monday, 04 October 2010 15:19
The state-owned ports and freight-rail operator Transnet has announced that it is talks with Airports Company of South Africa (Acsa) and is bidding to buy the old airport in Durban. The company said the City of Durban will acquire the land wherein the old airport is based, senior project manager David Stromberg confirmed. He said if successful, Transnet could "more than double" capacity at the Durban port against the backdrop of anticipated demand for growth. If the deal goes through, the port in the southeastern city would need to be operational by 2019, Transnet reported.
Last Updated on Monday, 04 October 2010 15:20
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Wallmart Eyes Massmart PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Monday, 27 September 2010 10:14

US retail group Walmart said on Monday that it was in talks to buy South African wholesaler Massmart for an estimated R28.9 billion as the world's largest retailer expands into fast-growing Africa continent. The local retailer operates in 14 countries in sub-Saharan Africa and said Walmart had offered R148 per share, but its chief executive officer Grant Pattison said its still early days to know whether the deal will go through.

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