Engineering News Online provides real time news reportage through originated written, video & audio material. Now you can listen to the top three articles on Engineering News at the end of each day.
Engineering News Online Audio Articles
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Engineering News Online provides real time news reportage through originated written, video & audio material. Now you can listen to the top three articles on Engineering News at the end of each day.
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2/14/2024
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Recent Episodes
August 7, 2026
Lamola calls for value-added critical minerals industry to drive Africa's industrialisation
Africa must seize the global critical minerals opportunity to accelerate industrialisation, create jobs and deepen regional economic integration rather than continue exporting raw materials, International Relations and Cooperation Minister Ronald Lamola argues.<br> Speaking at the Ambassadorial Breakfast on Africa's Growth Through Critical Minerals event, hosted by Absa in partnership with the Department of International Relations and Cooperation (Dirco), in Johannesburg, on August 7, he said Africa's vast critical mineral endowment positioned the continent at the centre of the global energy transition.<br> He noted that Africa possesses many of the minerals required for clean energy technologies, including platinum group metals (PGMs), copper, manganese, bauxite and graphite, making the continent indispensable to the global transition to a low-carbon economy.<br> "Our continent has many of the minerals that are critical to the global energy transition. These minerals are essential to technologies, ranging from solar panels and wind turbines to electric vehicles and energy storage systems. Africa is, therefore, central to the transition to a low-carbon future," Lamola said.<br> However, Lamola cautioned that resource abundance alone would not guarantee prosperity and said Africa must break longstanding patterns in which minerals are exported for processing elsewhere before being re-imported as higher-value products.<br> He stressed the need for greater beneficiation and industrial capacity across the continent.<br> He also warned that rising demand for critical minerals could either usher in a new era of shared prosperity or intensify extraction, conflict and instability on the continent if governments failed to implement prudent, long-term and localised growth-enabling policies.<br> Meanwhile, Lamola has also welcomed policy interventions by countries including South Africa, Namibia, Zimbabwe and Malawi to promote local value addition, highlighting that these efforts support the implementation of the African Green Minerals Strategy and the G20 Critical Minerals Framework.<br> "Within [the G20 last year,] intra-Africa payment systems [were highlighted] as a critical area of cooperation.<br> "How we manage the promise and peril of this moment will determine whether we realise Agenda 2063's vision of a peaceful, integrated and prosperous Africa anchored in the ideals of Pan-Africanism and the African Renaissance," Lamola said.<br> He also stressed that industrialisation was essential to addressing Africa's demographic challenge, noting that while between ten-million and twenty-million young people enter the labour market each year, Africa creates only about three-million formal jobs a year.<br> Lamola's remarks echoed those of Absa Group CEO Kenny Fihla, who highlighted that Africa had reached a defining moment as growing global demand for critical minerals repositioned the continent as a strategic player in the global economy.<br> "Africa is at an inflection point. Global demand for critical minerals has repositioned our continent as a strategic supplier to the world but the question we must now confront more fundamentally is whether Africa can harness this moment to power its own industrialisation," Fihla said.<br> He also argued that unlocking the continent's mineral wealth would require closer collaboration between governments, finance and industry, stronger implementation of the African Continental Free Trade Area (AfCFTA) and greater investment in regional industrial capacity, adding that Africa's "future competitiveness would be determined not by what it extracts, but by what it builds".<br> Lamola called on business to work alongside governments to accelerate growth through mining, manufacturing and agriculture, arguing that stronger public-private partnerships would be essential to unlocking Africa's economic potential.<br> He concluded by pointing out that addressing the root causes of migration, including unemployment, weak economic growth, climate change and conflict, woul...
August 6, 2026
IDC sets R51.5bn disbursement target as it aligns strategy to new industrial thrusts
South Africa's Industrial Development Corporation (IDC) has set a target of disbursing R51.5-billion in funding over the coming three financial years having aligned its corporate plan to government's new industrial strategy.<br> In a presentation this week to Parliament's Select Committee on Economic Development and Trade, acting COO David Jarvis reported that the State-owned development financier would continue to support established industries while seeking to catalyse future-focused value chains identified in the Industrial Development Strategy (IDS) of 2026.<br> The IDS was unveiled by Trade, Industry and Competition Minister Parks Tau earlier this year and has been anchored on industrialisation pathways associated with decarbonisation, diversification and digitalisation.<br> The IDC indicated that it is gearing up to support growth in critical minerals and battery value chains, green and circular-economy industries, tourism and services, digital and blue-economy activities, agro-industrial expansion, and the industrial infrastructure needed to support higher levels of productivity. It will also invest in regional industrial value chains, but do so in partnership and as a minority shareholder.<br> The corporate plan envisages disbursements of R16.3-billion in the 2026/27 financial year, R17.4-billion in 2027/28 and R17.8-billion in 2028/29, with the primary funding source being internally generated cash, with limited borrowings.<br> It is envisaged that R17.4-billion will be directed towards manufacturing, especially machinery, equipment and electronics, followed by energy and infrastructure (R11.7-billion), mining and metals (R5.8-billion), agro-processing (R4.5-billion) and tourism and services (R2-billion).<br> Jarvis reported that the group would also seek to implement structural savings of R1.6-billion over the period.<br> The presentation was made while Parliament's Portfolio Committee on Trade, Industry and Competition was hosting a separate colloquium on the IDS, which also proposes various support measures for existing industries facing cost and import pressures, including steel, smelters and automotives.<br> Interventions under consideration range from special electricity pricing deals and higher import tariff protection to tax incentives, with the goal of stabilising manufacturing, whose contribution to GDP has fallen to about 13% from 21% in 1994.<br> In a presentation to the committee, the Department of Trade, Industry and Competition (dtic) suggested that consideration be given to exempting the IDC from corporate income tax "in order to facilitate industrial development".<br> In addition, the dtic proposed that South Africa should consider enabling the IDC and the Development Bank of Southern Africa to play a greater role in the ownership and financing of strategic sectors under the ownership of the government, making specific reference to Foskor and ArcelorMittal South Africa (AMSA).<br> AMSA is currently trading under a cautionary relating to its ongoing talks with the IDC over a possible transaction, while Foskor, which is a fertiliser producer, is already an IDC subsidiary.<br> The IDC made no reference to the possible AMSA transaction in its presentation.<br> In response to questions, it confirmed that Foskor was facing fresh financial pressures following recent improvements that had arisen from the implementation of a turnaround strategy.<br> These new difficulties were attributed largely to an increase in the price of key inputs such as sulphur and ammonia, which had surged as a result of disruptions to shipping in the Strait of Hormuz.
August 6, 2026
Terence Creamer talks about: Creation of an independent TSO in the spotlight
Engineering News editor Terence Creamer discusses President Cyril Ramaphosa's endorsement of the Phase I report of the Eskom Restructuring Task Team, which supports the creation of a new independent Transmission System Operator, as well as what this means and the next steps to be
431 total episodes available
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Isaac Malevu
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Dr Kgosientsho Ramokgopa
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Simon Baloyi
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Michelle Phillips
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Terence Creamer
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Werner van Antwerpen
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Jan-Paul Spangenberg
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