- Obituaries 2002
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Archived from the original on Retrieved Business Day. National Key Points in South Africa. Namespaces Article Talk. Views Read Edit View history. Help Learn to edit Community portal Recent changes Upload file. Download as PDF Printable version. Adults dark to bluish black; juveniles with dark bands with pale interspaces Ref. Solitary or in small schools Ref.
Collaborators Smith-Vaniz, W. Desoutter , Quero, J. Hureau, C. Karrer, A. Post and L. Saldanha eds. Sounds Ciguatera Speed Swim.
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Estimates based on models Preferred temperature Ref. Phylogenetic diversity index Ref. Trophic Level Ref. Vulnerability Ref. However, there can be no assurance that accidents or acts of terror will not occur in the future, that insurance will adequately cover the entire scope or extent of our losses or that we may not be found directly liable in connection with claims arising from these events.
In general, we cannot assure you that costs incurred as a result of the above or related factors will not have a material adverse effect on our business, operating results, cash flows and financial condition. Failure to comply timely with safety, health and environmental and other laws may adversely affect our market position and our business, operating results, cash flows and financial condition. We are subject to a wide range of general and industry-specific environmental, health and safety and other legislation in jurisdictions in which we operate.
Environmental requirements govern, among other things, land use, air emissions, use of water, wastewater discharge, waste management and site remediation. These regulations often require us to obtain and operate in compliance with the conditions of permits and authorizations from the appropriate regulatory authorities.
Compliance with these laws, regulations, permits and authorizations is a significant factor in our business, and we incur, and expect to continue to incur, significant capital and operating expenditures in order to continue to comply, in all material respects, with applicable laws, regulations, permits and authorizations. Failure to comply timely with applicable safety, health and environmental laws, regulations or permit requirements may result in fines or penalties or enforcement actions, including regulatory or judicial orders enjoining or curtailing operations or requiring corrective measures, installation of pollution control equipment or other remedial actions, any of which could entail significant expenditures.
We are also continuing to take remedial actions at a number of sites due to soil and groundwater contamination. The process of investigation and remediation can be lengthy and is subject to the uncertainties of site specific factors, changing legal requirements, developing technologies, the allocation of liability among multiple parties and the discretion of regulators.
Accordingly, we cannot estimate with certainty the actual amount and timing of costs associated with site remediation. In order to comply with these safety, health and environmental laws and regulations we may have to incur costs which we could finance from our available cash flows or from alternative sources of financing. No assurance can be given that changes in safety, health and environmental laws and regulations or their application or the discovery of previously unknown contamination or other liabilities will not have a material adverse effect on our business, operating results, cash flows and financial condition.
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Whilst it is our policy that asbestos-containing materials will be phased out as part of our routine maintenance program there are currently certain asbestos-containing materials at our facilities. In addition, we produce carcinogenic materials at some of our facilities. We cannot assure you that no liabilities may arise as a result of the use or exposure to these materials.
In addition to undertaking internal investigations we are also subject to review from time to time by Government authorities on our compliance with, inter alia, tax and customs and excise duty and anti-trust laws and regulations impacting our operations. Our product pricing structures are also reviewed from time to time by regulatory authorities.
Obituaries 2002
Whilst it is our policy to conduct our operations in accordance with applicable laws and regulations and we have established control systems to monitor such compliance, no assurance can be given that these control systems will not fail or that some of our product pricing structures will not change in the future. Our coal, crude oil and natural gas reserve estimates may be materially different from reserves that we may actually recover. Our reported coal reserves are estimated quantities that under present and anticipated conditions have the potential to be economically mined and processed.
Our proved developed and undeveloped crude oil and natural gas reserves are estimates based on applicable reporting regulations. There are numerous uncertainties inherent in estimating quantities of reserves and in projecting potential future rates of coal, oil and natural gas production, including many factors beyond our control. Reserve estimates may require revision based on actual production experience and other factors.
In addition, several factors including the market price of coal, oil and natural gas, reduced recovery rates or increased production costs due to inflation or other factors may render certain of our estimated proven and probable coal reserves and proved developed and undeveloped oil and natural gas reserves uneconomical to exploit and may ultimately result in a restatement of reserves. There is a possible risk that sanctions may be imposed by the US Government as a result of our Iran-related activities.
There are possible risks posed by the potential imposition of US economic sanctions in connection with activities we are undertaking in the polymers field and considering in respect of a GTL opportunity in Iran. Nonetheless, because the group is a multinational enterprise, we are aware that the ITR may apply to certain entities associated with the group, including US employees, investors and certain subsidiaries.
We are taking measures to ensure that US employees, investors and certain subsidiaries of the group to which the ITR applies will not violate the ITR as a result of their respective affiliation with the group. For instance, to that end, we are taking measures to:.
By undertaking the aforementioned steps, we believe that any risks posed by the ITR to US persons and entities affiliated with the group will be mitigated. ILSA grants the President of the United States discretion in imposing sanctions on companies found to be in violation of its provisions involving investment in the petroleum industry in Iran.
Although we believe that our polymers project is not in the petroleum industry and we are only involved in a feasibility study in connection with other activities in Iran, we cannot assure you that our activities in Iran would not be considered investments as statutorily defined by ILSA or that the imposition of sanctions on the company or other entities of the group would not have a material adverse impact on our business, operating results, cash flows and financial condition.
The exercise of voting rights by holders of American Depositary Receipts is limited in some circumstances. For example, ADR holders will not receive notice of a meeting directly from us.
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Rather, we will provide notice of a shareholders meeting to The Bank of New York in accordance with the deposit agreement. The Bank of New York has undertaken in turn, as soon as practicable after receipt of our notice, to mail to holders of ADRs voting materials. These voting materials include the information on the matters to be voted on contained in our notice of the shareholders meeting and a statement that the holders of ADRs on a specified date will be entitled, subject to any applicable provision of the laws of South Africa and our Articles of Association, to instruct The Bank of New York as to the exercise of the voting rights, pertaining to the shares underlying their respective ADSs on a specified date.
Upon the written instruction of an ADR holder, The Bank of New York will endeavor, in so far as practicable, to vote or cause to be voted the shares underlying the ADSs in accordance with the instructions received. The Bank of New York will not vote or attempt to exercise the right to vote other than in accordance with the instructions received from ADR holders. We cannot assure you that you will receive the voting materials in time to ensure that you can instruct The Bank of New York to vote the shares underlying your ADSs.
In addition, The Bank of New York and its agents are not responsible for failing to carry out voting instructions or for the manner of carrying out voting instructions. This means that you may not be able to exercise your right to vote and there may be nothing you can do if your voting rights are not exercised as you directed. Historically, trading volumes and liquidity of shares listed on the JSE have been low in comparison with other major markets.
Sales of ordinary shares or ADSs, if substantial, or the perception that these sales may occur and be substantial, could exert downward pressure on the prevailing market prices for the Sasol ordinary shares or ADSs, causing their market prices to decline. Sasol Limited, the ultimate holding company of our group, is a public company. In , the South African Parliament enacted legislation detailing the establishment of an oil-from-coal industry in South Africa.
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As a result of this initiative, the South African government in , through the Industrial Development Corporation of South Africa Limited, a state-owned entity, formed our predecessor company known as the South African Coal, Oil and Gas Corporation Limited to manufacture fuels and chemicals from indigenous raw materials. The operation of this plant was based on a combination of the German fixed-bed and the US fluidized-bed Fischer-Tropsch technologies, together with German Lurgi coal gasification technologies for the synthetic production of gasoline, diesel, other liquid fuels and chemical feedstock from coal.
During the s, we became a major supplier of raw materials for the chemical industry. This included products such as solvents for paints, butadiene and styrene for synthetic rubber and ammonia for nitrogenous fertilizer.
When our first naphtha cracker became operational in the mids, we added ethylene and propylene for the plastics industry to our product portfolio. In , we completed construction of our first gas pipeline, which connected industrial companies in the greater Johannesburg area to pipeline gas. During the final construction phases of Sasol Two in , work commenced on the construction of our third synfuels and chemicals plant, Sasol Three, which was completed in Towards the time of the completion of the Sasol Three project, all our technical and research and development services were consolidated into a new company, Sasol Technology.
Since then, Sasol Technology has been an important area of our activities, responsible for research and development, technology development and commercialization, project management and specialist engineering skills. Subsequently, the interest in our share capital held by the South African government through the Industrial Development Corporation of South Africa Limited was further reduced to its current 7. Our technology enabled us to enter the downstream production of higher-value chemicals, including nitrogenous fertilizers and commercial explosives in and , respectively, and also of solvents, phenolics, waxes and alpha olefins.
In the years and , we undertook the construction of a large polypropylene plant that incorporated BASF gas-phase technology. The joint venture manufactured and marketed monomers and polymers. In , Polifin was listed on the JSE. Following this, Polifin became part of our chemicals portfolio and was renamed Sasol Polymers.
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A strategic decision was taken to wind down and close the Sasol Fibres partnership in year because it was underperforming and unlikely to meet our targeted rates of return in the long-term. Dow Chemical Company became our joint venture partner in African Amines in following its acquisition of Sentrachem.
It produces paraffin and Fischer-Tropsch waxes with operations in various countries. Merisol produces and supplies natural phenolics and cresylics. The plant is scheduled to commence operations during the first half of calendar year. In and , we signed agreements with the government of Mozambique for the development of natural gas fields and the construction of a gas pipeline transporting gas to the South African market. The construction of this pipeline was completed in We introduced natural gas to the South African pipeline gas market as of and use natural gas as part of our feedstock for our chemicals and synfuels operations in both Secunda and Sasolburg.
This was our largest and most significant acquisition to date, in line with our strategy of achieving international growth in the alpha olefins, surfactants and solvents businesses. In , Sasol determined that it would continue to grow its chemical businesses conditional upon projects leveraging its technology or securing integrated and highly cost-competitive feedstock positions.
The Olefins and Surfactants business is only partially integrated upstream into feedstock and has not adequately provided the integration benefits which Sasol requires. Deutsche Bank has been appointed to assist Sasol in procuring offers, assessing the feasibility and attractiveness thereof and executing any potential transaction. We now have Sasol- and Exel- branded retail convenience centers. Sasol announced on. As noted above the Uhambo Oil transaction is subject to Competition Tribunal approval. We employ approximately 30, people. Capital Expenditure.
Key capital expenditure incurred on projects to expand our operations includes:. Project Turbo 1. Sasol Polymers. Oryx GTL Nigeria. Sasol Synfuels International. Escravos GTL Qatar. Arya Sasol Polymer Iran.
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Sasol LFB distribution network. Sasol LFB. Sasol Olefins and Surfactants. Mozambique Natural Gas. Sasol Gas and Sasol Petroleum International. Clean Fuels Project. Tar Naphta Phenolic Extraction. Acrylic acid and acrylates. Sasol Solvents. Sasol Synfuels. Other smaller projects. The amounts exclude borrowing costs capitalized.