Current Africa News Today
S. Africa rules out mines nationalisation
Nationalising South Africa's mines is not a viable option for the country's key sector and has been ruled out by the ruling party, the mines minister said on Tuesday, in a move welcomed by industry.
Tue, 07 Feb 2012 03:34:26 -0800
ArcelorMittal S.Africa wary on core market recovery
JOHANNESBURG (Reuters) - ArcelorMittal South Africa slid into a full-year loss on the back of higher raw material costs, lower output and weaker sales and warned that a pick-up in demand from key construction industry customers has yet to materialise. Chief Executive Nonkululeko Nyembezi-Heita said restocking and lower input prices would bring a significant turnaround in earnings for the first ...
Tue, 07 Feb 2012 06:49:03 -0800
S.Africa mines minister targets CEOs on fatalities
CAPE TOWN (Reuters) - South Africa's mines minister said on Tuesday that industry chief executives should be held liable for avoidable fatalities, also raising the possibility of court action. Targeting chief executives would take her safety drive to new levels as the government tries to stem the death toll in the country's mines, the world's deepest and among the most dangerous. "Fatalities ...
Tue, 07 Feb 2012 01:24:28 -0800
Arcelormittal S.Africa reports FY loss, sees better Q1
JOHANNESBURG (Reuters) - ArcelorMittal South Africa Ltd, a unit of the world's top steelmaker, on Tuesday reported a full-year headline loss, hit by higher raw material costs and weaker sales, but said it expects a better first quarter. The steelmaker's production last year was hit by structural problems, including a furnace failure at its Newcastle plant, a strike in the steel sector and a ...
Mon, 06 Feb 2012 23:54:06 -0800
S.Africa's Q4 jobless rate falls to 23.9 percent
PRETORIA (Reuters) - South Africa's official jobless rate eased to 23.9 percent of the labour force in the fourth quarter of 2011 from 25.0 percent in the third as new jobs were added in the trade, social services and manufacturing sectors, a survey showed on Tuesday. But growth in Africa's largest economy still remains far below the levels needed to make a significant dent on unemployment, one ...
Tue, 07 Feb 2012 02:14:42 -0800
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