News 17:00

BULLETIN 26 April 5 pm

Good afternoon. I am……..

In this bulletin:

# Impala Platinum Holdings initiates a staff reduction consultation
# Eskom announces an Energy Saving Campaign in May
# And Rugby: A double injury blow hits the Lions

# Impala Platinum announced the initiation of a staff reduction consultation process at its South African operations that could affect almost four-thousand jobs. CEO Nico Muller cites plummeting platinum group metal prices and persistent inflationary pressures as key factors affecting profitability. Despite prior cost-saving efforts, financial challenges persist, necessitating measures to optimise operational efficiencies. The future job security of the entire workforce remains uncertain amidst global economic uncertainty and geopolitical tensions.

# Eskom CEO Dan Marokane has confirmed an upcoming Energy Saving Campaign in May to bolster electricity generation for winter. Addressing the media on Eskom’s State of the System and Winter Outlook, Marokane stresses collaborative efforts to end load-shedding. South Africa will only face Stage 2 load-shedding if necessary, as Eskom targets a 1.3-gigawatt reduction in unplanned losses and 382-megawatt demand initiatives:

# The Department of Water and Sanitation says water transfer will be augmented to offset any shortfalls as the Lesotho Highlands Water Tunnel prepares for maintenance. Director-general Sean Phillips assures proactive measures, including risk analysis in May, to ensure water supply stability for the 2024/2025 financial year. He says that domestic users won’t be significantly affected, while licensed irrigators along the Liebenbergsvlei River will receive notices for water extraction restrictions:

# The European Union has announced it was giving an extra 1.4-billion-rand to provide desperately needed aid to Palestinians in Gaza. The territory has been devastated by more than six months of Israeli bombardment and ground operations after Hamas’s October 7 attack, leaving the civilian population of two million people in need of humanitarian assistance to survive.

# Rugby: It is a double injury blow to the Lions ahead of their United Rugby Championship clash against defending champions Munster tomorrow. Top midfielder Henco van Wyk and fullback Quan Horn is unavailable because of injury. Jordan Hendrikse will reach 50 caps but will play out of position at fullback with Sanele Nohamba staying at flyhalf. The Lions are fighting for a place in the top eight and kicking coach Morné Steyn says it’s like knockout rugby:

# And the financial indicators: The dollar trades at 18-rand-81-cents and the euro at 20-rand-15-cents. One British pound costs 23-rand-52-cents and Bitcoin trades at 63-thousand-870-dollars-82-cents. Gold sells at two-thousand-341-dollars-84-cents a fine ounce and Brent crude oil is quoted at 88-dollars-44-cents a barrel.

Stay tuned for more news………….