Here’s what caught our attention on Wednesday:
1. Anglo American completes disposal of 33% interest in BRPM JV
Mining company Anglo American confirms that the conditions relating to the purchase of the Royal Bafokeng Platinum and Royal Bafokeng Proprietary Limited have been fulfilled. Its Rustenburg Platinum Mine has therefore completed the disposal of its 33% interest in the Bafokeng Rasimone Platinum Mine JV. The transaction reached completion on December 11.
2. Core inflation rate
South Africa’s headline consumer inflation quickened slightly to 5.2% year-on-year in November, while core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, was edged up to 4.4% year-on-year in November from 4.2% in October.
3. November retail sales
Retail sales figures for October are expected to be released on Wednesday. In September, retail sales increased 0.7% year-on-year from a 2.5% increase in August.
Update to follow.
4. Jabu Mabuza’s coal policy
Eskom chairman Jabu Mabuza has denied that the utility has a policy dictating that coal suppliers must be majority black-owned. Moneyweb digs deeper into the matter to ascertain how this might have an impact on the current coal stockpiles and subsequent load shedding.
5. Resignations relating to VBS
The heist of VBS Mutual Bank continues to have far-reaching consequences. The mayor of the Vhembe district, Florence Radzilani, has handed in her resignation over the VBS scandal. According to the Mail and Guardian, she allegedly received R300 000, although Radzilani says she is leaving office with a clear conscience after being vindicated by two forensic investigations. Alongside Radzilani, six other mayors were told to go for being implicated in the VBS saga. If convicted, the mayors may face criminal charges and jail time.