Unchain mining exploration: The Department of Mineral Resources and Energy’s Tseliso Maqubela claims the federal government must finish the procurement procedure for a new mining cadastral system by the end of 2023. The new system ought to permit higher mining expedition, as the department presently lacks an on-line cadastral system that would permit miners to see who owns which exploration right in a particular location.
Billions recovered from corruption: Minister of Justice as well as Correctional Solutions Ronald Lamola states a procedure is underway to develop a brand-new bill that will certainly reinforce the freedom as well as security of tenure of the incumbents in the Investigating Directorate. Lamola said that over R12 billion had actually been recovered in anti-corruption operations, with the anti-corruption task team taping 35 cases entailing 180 implicated in between April as well as December last year.
Old banknotes still legal: Pearl Kgalegi of the South African Book Bank (SARB) claims older banknotes without a photo of Nelson Mandela are still lawful tender. Some storekeepers are supposedly contradicting the discontinued notes yet they are legitimately obliged to approve them. However, R200 notes manufactured before 2005 are declined as lawful tender as they were ceased in 2010 to prevent counterfeiting.
Russian power play: Russia is reportedly planning to test-fire a hypersonic Zircon projectile during a marine exercise in between South Africa, China and also Russia later on this month. A Zircon missile is touted as being unstoppable, with NATO nations supposedly calling the weapon terrifying. South Africa will see the Zircon first-hand and also will serve as a guarantor to see if the projectile functions, ending up being an essential resource to NATO.
Markets: South Africa’s rand weakened on Monday, as the United States buck jumped on assumptions that the United States Federal Book may seek its inflation-fighting rates of interest walkings for longer. In the absence of significant local financial growths, the risk-sensitive rand commonly takes signs from global vehicle drivers. On Tuesday (7 February), the rand was trading at R17.62/$, R18.91/ EUR, as well as R21.23/ ₤. Brent crude is trading at $81.74 a barrel.
Last Updated: 07 February 2023