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Tue, 07 Aug 2018

Trade cooperation agreements signed by South Africa’s President Cyril Ramaphosa and Chinese President Xi Jinping for the investment are to benefit the local infrastructure, ocean economy, green economy, science and technology, agriculture, environment, as well as finance sectors.

“Strengthening partnership with the world’s leading economy and reliable trade partner has afforded South Africa with opportunities to increase its exports, accelerate infrastructure delivery, economic recovery and job creation,” said SANCO National Spokesperson, Jabu Mahlangu in a statement released late on Tuesday.


 Source: https://www.iol.co.za/business-report/brics/chinas-147-billion-investment-will-stimulate-sa-economy-sanco-16220925

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Tue, 07 Aug 2018

Ana Lucía Coronel, who heads the IMF team for South Africa, said: “The recommendation of IMF staff is to increase competition in all sectors, so that more private companies, domestic and foreign, could invest and compete in the production of services – not only in telecommunications, but also in energy, transport, and other sectors”.

The IMF also said that the use of technology still has a long way to advance in South Africa, given the potential of the economy.

The lender said the cost of internet in the country is high and the quality is low, because there are very few competitors.

South Africa’s economy is known to be characterised by high levels of concentration – spatially as well as industrially.

Research produced by the Industrial Development Think Tank found that monopolistic firms have less of an incentive to invest, since they can earn economic benefits by protecting their market share rather than upgrading their product offering.

The study also found that the South African economy requires a broader competition policy, as part of an industrial policy, which facilitates the entry and expansion of businesses, especially black entrepreneurs, and reduces barriers to entry.

Adrian Saville, chief executive of Cannon Asset Managers, said new entrants could also promote geographic de-concentration.

“To this end, almost all economic activity in South Africa takes place in a few economic centres (Gauteng; Cape Town; Durban; and Nelson Mandela Bay),” Saville said.

“New entrants could promote investment and economic activity in a fashion that reduces this exceptionally high level of geographic concentration that continues to represent the structure of the apartheid economy.”

The government is currently in the process of shoring up its competition laws to allow for more participants in the economy.

The Competition Amendment Bill was officially introduced to the national assembly last month. Its primary objective is to address structural challenges that are seen by the Minister of Economic Development to constrain the South African economy.

The amendments’ objective is to address high levels of economic concentration in the economy and the existing ownership profile of the economy.

The bill also aims for better regulation of dominant firms and ensuring their effective prosecution where they abuse their market power – particularly where this is done in a manner that excludes participation in the market by smaller local players.

Jean Meijer, a partner at Herbert Smith Freehills, said of concern is that a politically appointed committee will wield power over foreign investment as per the act.

“This is particularly so in circumstances where there is no clear guidance as to what standard the committee will have to apply in making its decision to block or impose conditions on foreign investment,” Meijer said.

President Cyril Ramaphosa has embarked on an ambitious investment drive, which has seen him criss-crossing the world to raise $100 billion (R1.33 trillion) in investment, both from foreign and domestic investors, in five years.

“South African industry displays high levels of concentration. This suggests that the country needs more than strong policy, and my argument is that it needs new investment alongside strong policy to encourage competition,” Saville [...]

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Wed, 01 Aug 2018

The Lancaster Foundation, a nonprofit company created by Lancaster Group, said on Friday it would provide a R1.6 million grant to Difeme, the investment company established by trade union Fedusa, to help kickstart a quartz mining and beneficiation hub in the Northern Cape.


It said Difeme had partnered with state-owned mineral and mining research centre Mintek to develop the appropriate technologies to process the quartz to the valuable purity standard of greater than 99.99% purity.

“By supporting Difeme’s bankable feasibility study, the Lancaster Foundation is contributing to a venture that could bring significant economic development benefits to South Africa,” it said.

“Difeme envisions using this resource to create additional business initiatives in downstream sectors, such as semiconductors and solar panels.”

Difeme Holdings is a black-owned mining startup company with a focus to mine and beneficiate quartz (SiO2) to a purity standard of higher than 99.99 percent, a rarity in the world.


After an agreement between Mintek and Difeme in 2016, the former was tasked to investigate the quality of the Riemvasmaak quartz deposits in Northern Cape through field evaluation, chemical and mineralogical test work and comminution test analysis and found that the silica content was as high as 99.98% on some occurrences.


Quartz is one of the earth’s most abundant minerals, but very few deposits can be classified as high-purity quartz, whose end market includes fused quartz crucibles, solar, semiconductors, high temperature lamp tubing and telecommunications.

Quartz glass is used in many facets of photovoltaic cell manufacturing, in light sources, reaction chambers, and tools used in the production of solar cells, thin films, and silicon wafers.

“Persistence Market Research argues that a new player in the market can gain market share of up to 10% within two years of its production line up,” Difeme managing director Dennis George said.


“This opportunity really excites us and offers a ray of light for small-scale mining companies.”

Work on the feasibility study is expected to commence during the second half of the year.

 Source: https://citizen.co.za/business/business-news/1972071/r1-6m-to-kickstart-quartz-mining-in-northern-cape/

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