• Inside Labour

    The 'casualisation' of the workforce is often a ploy to cut costs, says Terry Bell.

  • When drones go dancing

    Drone technology's future is about to come to life in Cape Town, says Arthur Goldstuck.

  • Testing times for Matona

    New Eskom CEO Tshediso Matona has his work out cut out for him, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

Copper theft rising - Sacci

Mar 28 2012 15:24 Sapa

Related Articles

Copper theft increases

Sacci: Copper theft up in July

Copper worth R259m stolen in 2010

Copper thieves start 2011 with a bang

Copper thefts ease in December

Copper theft declines

 
Johannesburg - Copper theft increased again in February, the SA Chamber of Commerce and Industry (Sacci) said on Wednesday.

Sacci's Copper Theft Barometer was R22.8m in February - up 4% from January's R21.9m, Sacci said.

It was R20.9m in December.

In 2011, the barometer averaged R17.8m.

The barometer - started in December 2010 - is an indicator of the estimated cost of replacing copper cable stolen from major users Transnet, Telkom and Eskom.

The chamber expected copper theft levels to be higher this year than in 2011 due to increased international demand for copper.

"According to Xstrata Copper (Australia) global demand for copper will rise by 3.1% in 2012, boosted by China's continued investment in housing and infrastructure that will drive up demand.

"This is significant since China's demand constitutes 40% of global demand," Sacci said.

However, the current trend of stronger law enforcement could cut out a vital conduit for organised copper-theft syndicates, Sacci said.

"Last year, there were 72 533 reported incidents of copper cable theft and 10 736 arrests were made.

"Sentences passed on guilty offenders have recently become harsher."

Another positive measure was the implementation of the Second-Hand Goods Act, dealing with accreditation of second-hand goods dealers' associations.

"These provisions regulate suspicious transactions as well as the possession, acquisition and disposal of metal cable with a burnt cover such as copper."

The act will be implemented in full once outstanding regulations are promulgated, expected to be by the end of April.
transnet  |  eskom  |  telkom  |  sacci  |  copper theft
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Expanding your business requires capital and banks have stringent lending criteria in place.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...