4Sight Holdings has entered into an agreement to acquire the entire issued share capital and loan account claims of the Foursight South Africa group. Effective from January 1, the purchase will cost 4Sight Holdings R85.57 million payable in cash and R11.69m through the issue of 36 941 800 million 4Sight Holdings shares at R2.00 a share.

Sinopec, one of China's largest state-owned companies, has undertaken to invest R6 billion in South Africa to upgrade and modernise the Cape Town-based oil refinery owned by Chevron South Africa, if it succeeds in its bid to acquire control of Chevron South Africa. Chevron's South African assets include an oil-refinery in Cape Town with a name-plate capacity of 100 000 barrels a day, a lubricants blending plant in Durban, storage tanks and distribution facilities as well as about 850 fuel service stations trading under the Caltex brand.

With Cape Town predicted to run out of water by April this year, and many other areas affected by drought, South Africa’s national and provincial governments have been actively evaluating alternatives for water supply in the country. The City of Cape Town drilled its first test borehole into the Cape Flats aquifer last week, and many coastal municipalities are looking into desalination plants.

Weir Minerals Africa, well known as an original equipment supplier in the field of slurry pumps, is investing into its process solution division in order to bolster its capacity to optimise plants. The company’s services and products span a range of mine processes, from run-of-mine tips to tailings dams, including equipment such as crushers, pumps, cyclones, linings, hoses, conveyors and valves.

While South Africa’s government is still discussing the options for free or subsidised tertiary education, the South African National Roads Agency Limited (Sanral) has announced bursaries available for candidates studying towards a university degree in BEng / BSc Civil Engineering.

The Johannesburg Stock Exchange (JSE) has announced that Eskom’s bonds face suspension on the bourse as a result of the utility’s failure to publish its interim results. The JSE requires companies whose shares or bonds trade on its systems to produce financial results every six months, and Eskom’s interim results for the six months to end-September needed to be published by December 31 to meet the JSE’s rules. This deadline was missed.


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