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South Africa slips in WEF Global Competitiveness Index South Africa slips in WEF Global Competitiveness Index
Published: 17 Oct 18
South Africa has fallen another five places in the World Economic Forum Global Competitiveness Index (WEF GCI), placing 67 out of 140 countries. The 2018 WEF GCI, released on Wednesday, scores 140 economies using 98 indicators organised into 12 pillars – institutions, infrastructure, ICT adoption, macro-economic stability, health, skills, product market, labour market, financial system, market size, business dynamism, and innovation capability.
Second activist targets Canadian miner Detour; seeks board changes
Published: 16 Oct 18
US hedge fund Livermore Partners is calling for an overhaul of the board at Detour Gold Corp and a strategic review, becoming the second activist to target the Canadian mining company. Livermore, which has engaged in other activist campaigns including at Canadian and UK media firm Entertainment One, sent a letter to Detour on Tuesday, saying the board has failed its shareholders on "numerous governance and operational matters."
Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021 Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021
Published: 16 Oct 18
Anglo American should restart operations at its Brazilian Minas Rio iron ore mine in November or December but a planned ramp-up to 26.5-million tonnes per year is likely to be pushed back to 2021 from 2020 as previously expected, the miner's Brazil chief said on Tuesday. The company halted production at its Minas Rio mine after two leaks in March in a pipeline that channels slurry more than 500 km from the mine in Minas Gerais state to a port in Rio de Janeiro state.
Calls for greater transformation in the energy industry
Published: 16 Oct 18
Calls for greater participation by black professionals in the energy industry were made during public hearings into the Integrated Resources Plan (IRP), held at Parliament, on Tuesday. The Black Energy Professionals Association, an organisation of black professionals that practice their trade within the energy sector, said there was still "inadequate participation of black people in the energy industry".
Organisations oppose coal in IRP public hearings
Published: 16 Oct 18
Public hearings into the Integrated Resources Plan (IRP) kicked off in Parliament on Tuesday, with several organisations voicing their concerns about the plan’s provision for new coal-fired power stations. Attorney Robyn Hugo of the Centre for Environmental Rights (CER) told Parliament’s Portfolio Committee on Energy that introducing new coal-fired power stations would be "unlawful, irrational and in conflict with the Constitution".
Honeywell, ERG to collaborate on mine efficiencies
Published: 16 Oct 18
NYSE-listed Honeywell and Eurasian Resources Group (ERG) have signed a memorandum of understanding (MoU) to develop innovative technologies that will increase productivity at ERG’s operations in Kazakhstan, Brazil and several African countries. Under the terms of the MoU, Honeywell will initially implement its Symphonite statistical data reconciliation software to help ERG with its reporting process of production and inventory information.
Zambian mining group says tax changes will hit mineral exploration
Published: 16 Oct 18
Zambia's proposed mining tax increases will hit mineral exploration and production in Africa's second biggest copper producer, companies involved in exploration said on Tuesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help bring down mounting debt, its finance minister said while delivering the 2019 budget speech last month.
Metal Tiger T3 mine feasibility study ‘progressing well within budget’
Published: 16 Oct 18
The T3 mine feasibility study for Aim-listed strategic natural resource investor Metal Tiger’s joint venture project with ASX-listed MOD Resources in the Kalahari copperbelt, in Botswana, is “progressing well within budget”, and is due for completion in March 2019, Metal Tiger said on Tuesday. Additionally, metallurgical test work results further identified capital and operational cost savings versus those contained in the prefeasibility study.
MeerKAT telescope described as 'a quantum leap forward' MeerKAT telescope described as 'a quantum leap forward'
Published: 16 Oct 18
The launch of Ghana’s Kutunse radio telescope, as well as South Africa’s 64-dish MeerKAT telescope have been lauded as examples of what can be achieved when African countries work together in the interests of science and technology. South African Science and Technology Minister Mmamoloko Kubayi-Ngubane on Tuesday described the July launch of the MeerKAT telescope as "a quantum step forward for innovation and science". She added that the prospects of the Square Kilometre Array (SKA), for which the MeerKAT is a precursor, were extremely exciting.
Court to hear MFSA’s application against DMR
Published: 16 Oct 18
The Mining Forum of South Africa (MFSA) says the Mafikeng High Court will, on October 26, hold a hearing into an application lodged by the MFSA against the Mineral Resources Minister over allegations that platinum miner Lonmin is not complying with its social and labour plans (SLPs). The application seeks the court to compel the Mineral Resources Minister to act against Lonmin.
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