Southern Africa

Kumba Iron Ore profits rise 18% due to higher prices and sales volume

Kumba Iron Ore in South Africa posted a 18% increase in its annual 'profits on Thursday, thanks to higher mineral prices as well as stronger sales volumes due to improved logistics at the port and rail. Kumba,?a?unit of Anglo American?, reported that its headline earnings per shares increased from 38.94 rand to 45.97 rand (2.86 dollars) in the year ending December 2025, up from 38.94. Africa's largest iron ore producer said that the increase in earnings was due to an?increased average realized free-onboard export iron ore prices of $95 per metric ton wet in?2025 compared to $92 one year earlier.
Europe

Vitol supports proposed $3 billion LNG power station for South Africa's Durban Port
Vitol supports proposed $3 billion LNG power station for South Africa's Durban Port

A spokesperson for Vitol, the global commodity trader, said that Vitol was backing a consortium which plans to build a $3billion gas-fired energy station and LNG import facility in Durban on South Africa's eastern coast. South Africa views gas as?critical?in its efforts to shift away from coal-fired plants that supply the majority of electricity to Africa's largest industrialised economy. Vitol, on the other hand, wants to gain a foothold in an industry targeting 16 gigawatts by 2039. The Vitol spokesperson said: The Vitol spokesperson told? ACWA Power didn't?immediately reply to a comment request. Vivo Energy and the government have confirmed
Transportation

S.African Ramaphosa pushes Eskom breakup plan ahead
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

The Mozambique authorities reported on Thursday 13 deaths due to severe flooding over the last two weeks. However, the figure is expected to increase sharply as aid workers expect to find more bodies 'as the waters recede. Heavy rains have caused rivers to overflow and submerged towns, affecting half a million residents. South Africa was also affected by flooding in parts of the country. By Thursday, the rain had stopped in certain?areas. Some of the buildings in Maputo's capital were submerged up to the roof tops. The city was also cut off from other parts of the country due to
Floods in Mozambique force thousands of people to flee their homes as the rising waters cut communities off

Transport Infrastructure

Transnet, South Africa's infrastructure upgrader, plans to spend $7 billion

Transnet, the state-owned South African freight and logistics company, plans to invest 127 Billion Rand ($7.3 Billion) over five years into modernizing rail lines and upgrading port facilities. This was announced by its Chief executive Michelle Phillips on Tuesday. Phillips, speaking at the South Africa Tomorrow Investor Conference, said that Transnet had budgeted 25 million rands for infrastructure this year. Phillips stated that "we will go out to the market both for partners and for funding." He cited potential projects like the Richards Bay Dry-Bulk Terminal and the Pier 2 Container concession in Durban. Transnet, South Africa's key logistics player,...

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

South African tax authorities provide jet fuel to airports

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...

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...

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...