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May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
Johannesburg - Former AngloGold Ashanti CEO Bobby Godsell will succeed Valli Moosa as chairperson of state-owned power utility Eskom.
Public enterprises minister Alec Erwin made this announcement at a briefing on the company's results for financial 2008 in Johannesburg on Thursday afternoon.
Eskom's revenue rose to R44.4bn from R40bn the previous year.
Eskom also said its full-year electricity growth sales were at 2.9% compared to 4.9% previously.
Coal costs increased by R5bn for the period, and Eskom said it was currently using 21% of short-term coal contracts compared to 2% in 2001, pushing up coal costs.
Eskom is battling to meet demand in Africa's biggest economy, and suffered a near-collapse of the electricity grid in January, shutting the country's gold and platinum mines for five days as the power crisis worsened, sending metal prices soaring.
- Fin24.com & Reuters