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Namibia to build second desalination plant in January

Published: 27 Jun 24

Drought-prone Namibia, currently facing its worst drought in over a century, will start constructing its long-awaited second desalination plant in January 2025, the minister of agriculture said on Wednesday. Approval for a second desalination plant with a capacity of about 20 million cubic metres has been granted, and the plant is expected to be commissioned by early 2027, said Calle Schlettwein, minister of agriculture, water and land reform.

Australia's Tamboran Resources raises $75m in New York listing

Published: 27 Jun 24

Australia's Tamboran Resources has priced its shares at $24 each to raise $75-million in its New York listing, according to the company's filings on Thursday. The company sold 3.125-million shares in the deal that was priced at the bottom end of the $24 to $27 per share price range flagged when the deal launched last week.

Freeport Indonesia launches $3.7bn Gresik copper smelter

Published: 27 Jun 24

Copper and gold miner Freeport Indonesia on Thursday launched its $3.7-billion copper smelter in Gresik, East Java, that has a total input capacity of 1.7-million metric tons of copper concentrate. The smelter's output capacity will reach around 650 000 t of copper cathode and 50 t to 60 t of gold, said Tony Wenas, CEO of Freeport Indonesia, majority owned by the Indonesian government but operated by US mining giant Freeport McMoran.

Sibanye ‘will have to’ shutter US mine unless palladium recovers

Published: 27 Jun 24

Sibanye Stillwater will be forced to halt operations at its Montana palladium mine if prices don’t recover soon, according to CEO Neal Froneman. “The future of Stillwater remains in the balance,” the CEO said on Tuesday, when asked at a London conference about the outlook for the mine. “I mean it’s as simple as that. If there’s no correction in the price soon, as strategic as it is, we will have to put it on care and maintenance.”

Panel explores relevance of listed market for mining capital

Published: 26 Jun 24

The world is infinitely more complex now, with the energy transition, longer lead times and geopolitical fracturing, than in previous years and this presents challenges and questions around mining equity investment, as this is no longer as simple an exercise as before. This was one of the areas explored by speakers during a panel discussion on the second day of the London Indaba on June 26.

Africa50 pledges $100m to accelerate renewable-energy projects, infrastructure

Published: 26 Jun 24

Infrastructure investment and asset management company Africa50 has pledged up to $100-million to fund and co-finance renewables-based energy transition projects and infrastructure across Africa through the International Renewable Energy Agency's (Irena's) Energy Transition Accelerator Financing (ETAF) platform. The collaborative partnership with Africa50 reinforces the ETAF platform's efforts towards sustainable development and climate action across the continent.

Theta raises another $4m for South Africa gold project

Published: 26 Jun 24

ASX-listed Theta Gold Mines has received firm commitments from investors to raise a further A$4-million (A$6.02-million) in equity funding to advance its TGME gold plant, in South Africa. The placement is in addition to the two-tranche, $10-million placement announced last month.

Nolitha Fakude, Thuli Madonsela, Mzila Mthenjane and Paul Miller.

Mining central to South Africa’s socioeconomic wellbeing, AGM hears

Published: 26 Jun 24

Given its far-reaching multiplier effect, mining is the epicentre of South Africa’s economy and social wellbeing and has been at the heart of its economic progress and development for much of this country's history, Minerals Council South Africa's 134th AGM attendees heard in Johannesburg on Wednesday. Simply put, a R1-million increase in mined output results in 2.5 economy-wide job opportunities.

Legislative certainty amid government shuffle crucial for continued renewable-energy investment

Published: 26 Jun 24

A clear and certain legislative framework is critical for enabling sustainability and green energy investments in South Africa going forward, especially given the changes taking place in government following unprecedented outcome of the May 29 elections, Absa Corporate and Investment Banking (CIB) environmental, social and governance head Msizi Khoza has said. Speaking at a media roundtable event at the Absa headquarters, in Sandton, on June 26, he emphasised the well-documented transformative effect of clear and consistent legislation on the renewable energy sector.

Gauteng municipalities urged to comply with STS rollover before November

Published: 26 Jun 24

The South African Local Government Association (Salga) has urged municipalities across Gauteng to comply fully with the November 24 deadline for the implementation of the Standard Transfer Specification (STS). The STS is an internationally recognised standard for the transfer of electricity and other utility prepayment tokens and is used by more than 500 utilities in more than 40 countries worldwide.