From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

State freight logistics group Transnet has outlined the approach it will take to raising the 36,6-billion rand it requires over the next three years to help fund its 80-billion rand, five-year capital programme.

Chief Financial Officer Chris Wells said that, despite considerable financial-market stress and illiquidity, the group would press ahead with its plan to raise funds from both the domestic and international capital markets. But he admitted that the process was likely to absorb "a lot of executive time" if it was to be done "cost effectively".

Some 51%, or 21-billion rand, would be raised on the domestic markets, through a combination of bonds and loans, with Transnet having already established its Domestic Medium-Term Note Programme.

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The Minister of Minerals and Energy, Buyelwa Sonjica, on Monday stated that the price of petrol would not increase by the previously indicated 81c a litre, but by a lesser 74c a litre, as the wholesale margin would no longer be increased.

Less than a week ago, the Department of Minerals and Energy stated that the latest price increase included an increase in the wholesale margin, which was currently sitting at 39,5 c a litre, and that this would be the first increase since 2004.

However, the DME confirmed that on July 2, 91 octane petrol would increase by 69c a litre in retail price, 93 octane petrol would increase by 73c a litre in retail price, 95 octane would go up by 75c a litre in retail price, and diesel would be raised by 63c a litre in wholesale price.

World number-three platinum producer Lonmin on Monday said that it had shut down its Number One furnace for at least one week, after it detected a water leak there.

Spokesperson Alex Shorland-Ball said that the miner was planning another month-long shutdown at the end of the year, to change the furnace's design.

She said that the problems had once again stemmed from the corrosive nature of the high-chromite UG2 ore that the company put through the furnace.

It was the best case scenario that the Number One furnace remains shut for seven days, and this might have to be extended, she said.

Also making headlines:

Independent Power South Africa eyes significant share of South Africa's power market in next five years
Maria Ramos unveils ambitious growth targets for rail, ports and pipelines
Johannesburg Road Agency blames under funding for condition of city's roads
Top BRC DiamondCore executives step down, miner to raise 1,5-million Canadian dollars
Gold Fields to invest 200-million rand in own power
And, Cameco gets go-ahead to start dewatering Cigar Lake

In political news:

New drug-resistance test gives hope to the fight against TB
The US boosts global food aid and food security funding
African leaders to consider Zimbabwe crisis at African Union summit
And, Iraq opens door to foreign oil firms

That's a round up of news making headlines today. For more on these and other stories, visit engineeringnews.co.za, miningweekly.com and polity.org.za