Mining production shrinkage eases, burgers burn Famous Brands

THE pace of contraction in annual mining production eased off in August as both the local and global economies opened up further, hinting that the industry may be one of the first to regain some of the ground lost to the coronavirus pandemic and lockdown.

Annual mining production shrank by a less-thanexpected 3.3%, down from July’s revised fall of 6.5% and June’s decline of 25.3%, said Stats SA.

CARTRACK, which provides fleetmanagement and stolenvehicle recovery services, more than quadrupled its interim dividend after reporting the pandemic had failed to dull interest in its software. The group opted for a R260m interim dividend, or 87c per share, up from 20c in the year-earlier period.

UBER Eats’ South African unit expanded delivery offerings, launching an app-based over-the-counter medicines service as it seeks to claw market share in the online shopping sector in SA.

FAMOUS Brands, owner of Steers, placed Gourmet Burger Kitchen into administration, ending its mistimed foray into the UK casual-dining market that has cost it more than R2.1bn. Administrators had been appointed and there could be an “insolvency sale” of business and assets, it said.

THE Special Investigating Unit has referred more than 5,000 Eskom employees for disciplinary action and investigation for offences ranging from the failure to declare their interests, to doing business with Eskom and leading suspicious lifestyles, the unit told parliament.

THE International Monetary Fund kept its forecast of an 8% contraction in SA’s economy in 2020 but trimmed its outlook for next year, citing the continued impact of the pandemic. Its 2020 forecast for GDP was unchanged from June but it forecast 3% growth in 2021, 0.5% lower than its previous estimate.