Southern Africa

Kumba Iron Ore anticipates a 23% increase in profit on increased prices and sales volume

Kumba Iron Ore, South Africa, said Thursday that it expected its full-year profits to increase by up to 23% due to higher mineral prices and sales volumes. Kumba, an Anglo American unit, expects to earn between $1,39 billion and $15,33 billion ($862,55 million-$951,29 million) in the year ending December 2025. This compares with the 12.5 billion rand earned the year before. Africa's largest iron ore producer said that the increase in earnings was due to the higher average free-onboard export iron ore prices of $95 per metric tonne in 2025. This is up from $92 a metric tonne the previous
East Africa

Mozambique has recorded 13 deaths in floods, but the toll is expected to rise
Floods in Mozambique force thousands of people to flee their homes as the rising waters cut communities off

Witnesses and aid workers said that severe floods caused by heavy rains in Mozambique forced thousands of people to leave their homes and some were left stranded on roofs. The waters were swollen and swamping settlements. According to the International Federation of Red Cross and Red Crescent Societies, which is assisting in relief efforts, floods directly affected more than 620,000 individuals, with 72,000 homes flooded and extensive damage caused to bridges, roads and health centers. Rachel Fowler, IFRC's Program and Operations Manager, told reporters in Maputo that the situation was likely to worsen as the dams were already full. This
Southern Africa

South Africa mourns the 13 schoolchildren who died in a minibus crash
Reports say that at least 11 children were killed in a minibus crash in South Africa.

South African media reported that at least 11 schoolchildren died on Monday morning after a minibus collided with a truck in a city south of Johannesburg. The South African Broadcasting Corporation, a public broadcaster, said that five other students sustained "critical" injuries in the incident. They were on their way to a hospital for urgent medical treatment. The emergency services are at the scene. The government of South Africa is working to improve the country's road safety record. According to the data released last week, there were 11,418 road fatalities in Canada during 2018. This is 6% less than the
Ground Freight

Maputo's port volume reaches record 32 million metric tonnes

The operator of the Maputo harbour said that the port will handle a record 32 metric tons of cargo by 2025. This is due to the increased freight rail volumes and the expanded capacity. In a press release, the Maputo Port Development Company (MPDC), which manages bulk shipments such as coal, chrome ore, and iron ore, as well as agricultural products, said that volumes increased?from 30.9 millions metric tons in 2020. This figure was the previous record. Official data shows that cargo through Maputo grew by 52% in 2019 from 21 million tons, underscoring its growing role as a regional
Wang Yi, China's top diplomat, postpones his visit to Somalia

Transport Infrastructure

S.African Transnet signs port equipment agreement with Liebherr

Transnet, a South African logistics company, announced on Thursday that it had signed a 10-year agreement with the German equipment manufacturer Liebherr to supply cranes in order to modernise and upgrade its port operations. Transnet stated that the two parties had also agreed to a 20-year Asset Management Programme, where Liebherr will provide maintenance, repairs, and spare parts for equipment. Transnet, the state-owned company that operates South Africa's port and rail freight network, is struggling to provide adequate service due to underinvestment. Equipment shortages have caused its port operations to be hampered, leading to long backlogs and affecting retailers and...

Transport Infrastructure

Transnet South Africa reports lower full-year losses

Transnet, the state-owned South African logistics group, reported on Friday a loss of 1.9 billion Rand ($108.18million) for the financial year ending March. This is down from the loss of 7.3 billion Rand in the prior year. Due to equipment shortages, and maintenance backlogs, the debt-ridden company has struggled for years to provide adequate rail freight and port services. Transnet's persistent underperformance has led to the stifling of exports for key commodities like coal and iron ore. Mineral exporters have lost billions in revenue. Kumba Iron Ore as well as thermal coal exporter Thungela Resources were forced to reduce production....

Transport Infrastructure

A consortium led by Public Storage abandons its $1.4 billion pursuit of Abacus Storage in Australia

Abacus Storage, based in Australia, announced on Tuesday that the consortium led by Nathan Kirsh (a South African billionaire) and Public Storage of the United States had withdrawn their A$2,17 billion ($1.41billion) bid for its firm. Abacus' independent board committee received notification overnight that the consortium withdrawn its offer. The firm didn't give any explanation for the consortium's decision to withdraw. The consortium offered Abacus shareholders A$1.47 for each stapled security, and all shares that were not held by Ki Corp or its subsidiaries. Abacus rejected the offer in May citing concerns about timing, valuation and deal completion. The consortium...

Transport Infrastructure

Trafigura and its consortium aim to complete the US loan agreement by 2025

Lobito Atlantic Railway's (LAR) CEO said that the company aims to complete by the end this year a loan agreement worth $533 million with the U.S. International Development Finance Corporation. This deal is crucial for upgrading its Angolan concession. The U.S. Development lender pledged a $533 million loan by 2024 for the upgrade of 1,300 km (800 miles) in railways, and to provide a fast route to haul minerals which are crucial to the global switch to cleaner energy. Angola granted LAR, a consortium of Trafigura Mota-Engil Vecturis SA a 30-year contract in 2022 to operate the rail line and...

Transport Infrastructure

Namibian Port Authority cancels Luderitz Energy Support Project

Namibian Ports Authority's (Namport) Facebook page revealed on Friday that it had cancelled the pre-qualification bid for a new base of oil and gas supplies at Luderitz, just days after its launch and without any explanation. The cancellation of the contract is a major blow to the government's efforts to speed up the development of the Luderitz Port, one the two commercial ports that are located in Southern Africa and is an important centre for energy services. Namibia is a hotspot for exploration following the discoveries of Shell, TotalEnergies and Rhino Resources offshore. The country aims to produce its first...

Transport Infrastructure

South African tax authorities provide jet fuel to airports

South Africa's fuels sector body FIASA welcomed a one-year extension by tax authorities of special licences to import and store jet fuel. This helped to avoid a possible supply crisis at major international airports. Fuels Industry Association of South Africa said that the arrangement would allow its members to operate Special Storage Warehouse (SOS), licences, until October 31, next year. The extension allows continued imports. Aviation kerosene will be stored in tanks licensed by the government and then pumped into a multi-product pipeline to supply O.R.Tambo International Airport. This is one of Africa's most busy passenger hubs. The South African...

Transport Infrastructure

Kumba's iron-ore sales are up 3% thanks to improved rail and port services

Kumba Iron Ore reported that its mineral sales in South Africa increased by 3% over the first six months of this year. This helped offset the inflation-related increases due to an improvement in rail freight operations and port operations. Anglo American's unit released a trading update on the 29th of July, ahead of its release of half-year results. The company said that its sales during the six months ending June 30 had increased from 18.1 millions metric tonnes in the same period of last year. Kumba, Africa’s largest iron ore mining company, expects its headline earnings in the first six...

Transport Infrastructure

Kumba's iron-ore sales are up 3% thanks to improved rail and port services

Abacus Storage Kings, Australia's Abacus storage King, gets a sweetened bid of $1.43 billion

Abacus Storage Kings in Australia said that it had received an improved non-binding bid from a group of Ki Corporation and U.S. listed Public Storage, valuing the company at A$2,17 billion ($1.43billion), up from its previous offer of A$1.93billion. The consortium, which included South African billionaire Nathan Kirsh’s family office Ki Corporation as well as U.S. based Public Storage, raised its offer from A$1.47 per share to A$1.65 after Abacus had rejected the previous bid in mid-May. Abacus’ independent board committee has said that it will give the consortium six-weeks of due diligence in order to determine if an agreement...

South Africa will issue a request for proposals in August for private sector rail investment

The Transport Minister stated on Sunday that the South African government and Transnet, a state-owned logistics company, are exploring new ways to encourage private investment into the country's failing freight rail network. Transnet struggles to provide adequate rail freight and port services due to equipment shortages, maintenance backlogs and rampant cable theft. In a televised address, Transport Minister Barbara Creecy stated that the limited availability of resources from the state to fund infrastructure and to deal with backlogs have intensified these challenges. This has severely restricted state-owned entity's ability to fulfill their mandates. She said that the RFI is focused...

Golf-Whitnell sinks 2 hole-in-1s in the second round of S.African Open

After making two holes-in one at the DP World Tour South African Open held at the Durban Country Club, Englishman Dale Whitnell will likely toast his success in the clubhouse. Whitnell, who had never achieved a hole in one in tournament play before, aced both the second and the 12th holes in his second round. Both par threes. His rollercoaster round of 63 leaves him with nine under par for the tournament. He is five shots behind the clubhouse leader Shaun Norris (64), from South Africa. The play was suspended on Friday evening due to poor lighting. Several players were...

Whitnell makes two hole-in ones in the second round of SA Open

After making two holes-in one at the DP World Tour South African Open, held at the Durban Country Club in Durban on Friday, Englishman Dale Whitnell could toast his good luck with a few expensive round at the clubhouse. Whitnell, who had never achieved a hole in one in tournament play before, aced both the second and 12th holes in his second round. Both par threes. His rollercoaster 63 puts him at nine under par for the tournament. He is five shots behind South African Shaun Norris (64), the leader in the clubhouse. Whitnell became the second player on tour...

First round of SA Open weather-affected by a trio

After bad lighting cut short Thursday's opening day of the DP World Tour South African Open, Fredrik From, Sam Bairstow, and Darren Fichardt shared the lead with seven under par. Fichardt had yet to complete his round. The course was covered in huge puddles on Wednesday, and the start of first round was three hours delayed. This left a number of golfers with a lot of time to finish their rounds. From had two eagles on his 65. Both were par fives. Bairstow, on the other hand, managed eight birdies. His round was only marred by a missed shot on...

Passenger Transportation Services

Passenger Ground & Sea Transportation

Coach Ouaddou, from South Africa, injured in car accident

Abdeslam Ouaddou, a former Morocco international and Fulham center-back, was hospitalized after a car crash in South Africa. He is now the coach of Soweto giants Orlando Pirates. Ouaddou and five other members of the club's staff were struck by a vehicle on Sunday, after their bus had stopped at an accident scene after returning from a South African League match in Gqeberha. The club reported that "coach Ouaddou, along with several members of staff, disembarked the team bus after a collision occurred between two vehicles to help those involved." "Tragically while attending the scene, a Nissan NP200 collided with...