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Diamcor closes final tranch of offering, bringing total to C$2m

Published: 03 Jul 24

Diamond producer Diamcor Mining has closed a second and final tranche of C$600 300 of its previously announced non-brokered private placement, bringing the total of the offering to about C$2-million. The company previously announced the close of a first tranche of the offering for gross proceeds totalling about C$1.4-million on June 4. Existing insiders, management and directors and larger shareholders subscribed for an aggregate of about $1.37-million of the offering.

IATA Africa and the Middle East regional VP Kamil Al-Awadhi

Speakers highlight role of aviation in improving connectivity, economic growth

Published: 03 Jul 24

The International Air Transport Association (IATA), on the first day of its Wings of Change Focus Africa conference, held in Johannesburg, South Africa, emphasised the need for African governments to take advantage of a strengthening aviation sector to maximise its benefits for economic and social development across Africa. During a media briefing at the event, IATA senior VP for sustainability and chief economist Dr Marie Owens Thomsen described Africa as “hitting below its weight in terms of the global economy”.

Priyesh Daya appointed to ICC International Court of Arbitration

Published: 03 Jul 24

Law firm Webber Wentzel partner Priyesh Daya has been appointed as a member of the International Chamber of Commerce's (ICC’s) International Court of Arbitration for a three-year term starting on July 1. The ICC Court is the world's leading arbitral institution, facilitating the resolution of international commercial and investment disputes.

Germany launches electric truck charging network to decarbonise transport

Published: 03 Jul 24

The German government on Wednesday launched a project to build up a nationwide fast-charging network for heavy duty vehicles as Berlin aims to decarbonize the transport sector by 2045. Greenhouse emissions in Europe's biggest economy fell to the lowest level in 70 years in 2023, but the transport sector has consistently failed to meet its climate targets.

Kumba appoints new independent nonexecutive director

Published: 03 Jul 24

Diversified mining major Anglo American’s Kumba Iron Ore subsidiary has announced the appointment of Neo Violet Mokhesi as an independent nonexecutive director with effect from July 1. She will also serve as a member of the audit committee, the social, ethics and transformation committee and the safety, health and sustainable development committee.

Subsidising costs for solar panel recycling will offset high costs in industry

Published: 03 Jul 24

Government and producer responsibility organisations could support the solar industry by subsidising the cost of recycling the PV panels and helping to establish recyclers. In this way, the organisers can help ensure that solar panel recycling becomes more accessible and economically viable.

Global air cargo continued strong growth in May, with Africa seeing the greatest increase

Published: 03 Jul 24

Global air cargo demand in May continued to show strong year-on-year (y-o-y) growth, the world representative body for the airline industry, the International Air Transport Association (IATA), has reported. May was the sixth month in a row in which air cargo demand registered double-digit y-o-y growth. In May, total demand increased by 14.7% y-o-y, while international demand rose by 15.5%. Total air cargo capacity grew by 6.7%, and international capacity by 10.2%. Africa was the region which recorded the biggest increase, jumping by 18.4%. Demand on the Africa-Asia routes soared by 40.6%. African air cargo capacity increased by 21.4%, also the highest increase among IATA’s regions.

Glencore said to withdraw Kazzinc sale after offers fall short

Published: 03 Jul 24

Glencore has abandoned plans to sell its stake in Kazakh mining company Kazzinc after potential buyers failed to match its valuation, people familiar with the situation said. Glencore had been considering exiting the business, in which it holds a 70% stake, amid interest from Chinese buyers. The company has now sent a termination letter to cthe bidders, the people said, asking not to be identified discussing a private matter.

Auto market awaits return of consumer confidence, political clarity – TransUnion

Published: 03 Jul 24

The South African automotive sector continues to grapple with significant macroeconomic challenges, says TransUnion Africa CEO Lee Naik. Persistently high interest rates and negative economic growth have eroded consumer and business confidence, leading many to defer long-term financial commitments, including vehicle purchases.