Local competition authorities will review Glencore International’s $32 billion (R454bn) takeover of Xstrata during Competition Tribunal hearings scheduled for next month in Pretoria. The review follows recommendations made by the Competition Commission in October that the tribunal approve the deal subject to conditions regarding employment. Glencore won EU approval for its $32bn takeover of Xstrata yesterday, after offering to end a zinc purchase agreement with Nyrstar and to sell its stake in the company. Glencore said it had noted the approval from the EU and was awaiting approval from South African and Chinese regulators before closing the transaction. The hearings will be held between December 11 and 14. – Dineo Faku
“Three billion people still cook and heat their homes using open fires and simple stoves burning biomass – wood, animal dung, crop waste and coal”.
Almost 200 workers at Royal Bafokeng Platinum Mine in Rasimone near Rustenburg have been retrenched, the company said.
Delegates from 82 countries adopted a declaration to ensure universal access to energy becomes a reality by 2030.
Power utility Eskom has appointed Suzanne Daniels as Company Secretary with effect from the start of October.
As commodity prices continue to fall, bankruptcies among producers and industry consolidation will no doubt accelerate.
South Africa and the US are inching towards a resolution of their protracted trade dispute over US meat imports.
Government's renewable energy procurement policy has been given a thumbs up from leading business figures. (VIDEO).
Former IMF head Rodrigo Rato has had his passport revoked, amid accusations of corruption, money laundering and fraud.