Latest News & Developments
iron and steel
Steel and engineering sector up for revitalisation, says Deputy Finance Minister Masondo
“We are working with the International Finance Corporation (IFC) to explore options for off-balance sheet financing, a strategy that will accelerate private sector investment in transmission projects. ”
Numsa strike at SA Steel Mills enters third week while SA Taxi action is put on ice
Numsa demands that the IDC review the funding it has given to SASM, stop any plans for further funding with immediate effect until SASM implements the court orders and reinstates all the workers who were dismissed.
Housing deal on the cards for steel sector workers after groundbreaking wage agreement
The wage agreement – as was the case in 2021 – prescribes wage increases to be calculated on the scheduled or gazetted minimum rates of pay per grade over the next three years.
South Africa’s steel sector is losing against massive challenges
South Africa’s steel industry is in a state of crisis and the metals industry, including the engineering sector, has been losing 40 jobs every day in South Africa since 2008.
Godongwana warns Transnet is a fiscal risk
National Treasury, in the Medium-Term Budget Policy Statement, said the poor performance of logistics and rail entity Transnet has reduced tax revenue.
Inferior quality steel a threat to the safety of shack dwellers
OPINION: The compounding effect of poor quality imports and a lack of regulatory control is threatening the safety and lives of South Africans who live or work in shacks that use interior roofing and cladding components, writes Charles Dednam.
Energy hubs set to take KZN to great economic transformation heights
The Energy Transformation Summit was hosted by eThekwini Municipality with the aim of outlining the energy transformation agenda and strategies linked to building energy security.
WATCH: G7 Summit – redistributing the price of carbon pollution
Emphasis was placed on how a carbon price can help create viable carbon markets.
Macsteel and partners attempt to break Guinness World record
They hope to break the record for the longest roof span covered by a single metal corrugated sheet.
For Steel Master Plan to work all parties must come to the table, says Patel
The plan provides a roadmap for the industry to follow to re-energise itself and the expand production of the sector.
Rolled aluminium producer Hulamin’s earnings are stellar, boosted by higher prices and higher sales volumes
Figures for the year ended December 31 showed that operating profit jumped 760 percent to R538 million from a loss of R81 million
Steel Master Plan aimed at reviving the steel industry under the spotlight
’There is very little domestic demand and the anaemic flat growth of 1. 5 percent’
13-day steel and engineering industry strike comes to an end
Numsa agreed to a six percent wage deal with salaries backdate to July 1.
Strike continues as Numsa rejects new wage offer
Numsa has been on strike since October 5 to press for higher wages, an action that could hit supplies of parts for new cars and accessories.
Hulamin marches up profit road despite Covid-19 bumps
The firm continues to implement its turnaround actions.
Macsteel settlement to level playing field for steel sector
Macsteel chief executive, Mike Benfield, said the out-of-court settlement reached with the Department of Trade Industry and Competition (Dtic) last week would level the playing field for the downstream steel industry.
Multibillion rand Nyanza Light Metals project launched
Nyanza Light Metals (Pty) Ltd is a chemical manufacturing company that has started the construction of its titanium dioxide (TiO2) pigment production plant at the RBIDZ.