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Evolution extends South Cowal option agreement
Published: 02 Jul 24
Gold miner Evolution Mining has extended the option to purchase tenements nearby its operating Cowal gold mine, in NewSouth Wales, for a third and final year for further evaluation and exploration. A two-year option agreement with ASX-listed Strategic Energy Resources was due to expire on September 26, 2024, but Evolution has elected to extend the option period for a further 12 months.
Vale reports second board exit in four months amid CEO search Vale reports second board exit in four months amid CEO search
Published: 02 Jul 24
Brazilian miner Vale has lost its second board member in less than four months, it said in a filing on Monday, reporting the resignation of Vera Marie Inkster. Vale, which is in the process of looking for a new CEO, gave no reason for Inkster's resignation in the filing.
Cesa welcomes Macpherson's appointment as Public Works Minister
Published: 01 Jul 24
Industry organisation Consulting Engineers South Africa (Cesa) says it looks forward to working with new Public Works and Infrastructure Minister Dean Macpherson. “We trust [he] will be more responsive than his predecessor, particularly in partnering with Cesa to pursue the critical infrastructure development and delivery that is so desperately needed to create jobs and grow the South African economy,” says Cesa CEO Chris Campbell.
Absa PMI rises, but remains below 50-point mark amid persisting challenges
Published: 01 Jul 24
The Absa Purchasing Managers’ Index (PMI) increased by 1.9 points to 45.7 points in June, from 43.8 in May, but remained below the 50-point mark. Following a strong start to the second quarter, which was also reflected in solid growth in official manufacturing production data, May and June have been poor, and the business activity index average was barely higher in second quarter than in the first, the bank said.
Porto do Caio Stage 1 quay that is scheduled for completion in December 2025. Minbos' Angola mine may supply phosphate rock to Foskor
Published: 01 Jul 24
Junior mining company Minbos has announced a nonbinding memorandum of understanding (MoU) with South Africa-based Foskor for a potential supply agreement from its Angola mine. Foskor currently sources phosphate rock for its Richards Bay phosphoric acid-based fertiliser plant from its mine in Phalaborwa, but Minbos says the company is considering supplementing supply with alternative sources.
The Kusile power station Kusile unit 5 enters commercial operation
Published: 01 Jul 24
Following six months of testing and optimisation, State-owned Eskom has transferred Unit 5 of the Kusile Power Station to its Generation division, and this unit will now begin contributing power, increasing Kusile Power Station’s total output to 4 000 MW. Over the past six months, Kusile Unit 5 has undergone a series of tests while intermittently supplying electricity. Since its synchronisation in December 2023, the unit has met performance expectations, supported the grid and helped to reduce loadshedding.
Orion to undertake placement, share purchase plan
Published: 01 Jul 24
ASX-listed Orion Minerals has secured firm commitments for a placement of new ordinary shares to sophisticated and professional investors to raise A$7.7-million, or R92.3-million. About 513-million shares will be issued at a price of A$0.01, or R0.18, apiece.
Macmahon reappointed as Dawson South mining contractor Macmahon reappointed as Dawson South mining contractor
Published: 01 Jul 24
Mining services firm Macmahon Holdings has been reappointed as mining contractor at the Dawson South project, in Queensland. Dawson South forms part of Anglo American’s Dawson mine, an opencut steelmaking coal mine west of Gladstone.
Pallinghurst Co-Chief Executive and Co-Founder Arne Frandsen. Investors very positive on South Africa's unity govt, says Pallinghurst's Arne Frandsen Has Video
Published: 01 Jul 24
Amongst all our investors, there’s a very broad support for South Africa’s government of national unity initiative, says Pallinghurst Co-Chief Executive and Co-Founder Arne Frandsen. “I think it’s absolutely the right thing that the politicians are doing and I really hope that it’ll see the rand getting some muscles back,” an upbeat Frandsen told Mining Weekly in a Zoom interview. (Also watch attached Creamer Media video.)
transmission towers NTCSA starts trading
Published: 01 Jul 24
The National Transmission Company South Africa (NTCSA) has officially begun trading, establishing the NTCSA as a duly constituted separate, distinct and wholly owned subsidiary of State-owned utility Eskom. This marks a significant step in the Department of Public Enterprises’ (DPE’s) roadmap for Eskom towards a reformed electricity supply industry.
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