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A rare South African export success is threatened by crumbling ports

Published: 04 Jul 24

At a packhouse at Blydevallei Boerdery, near South Africa’s eastern border with Mozambique, workers pluck unripe grapefruit off a conveyor belt. It’s the best chance of getting them to export markets thousands of miles away before they spoil. The citrus farm is just one of many fruit producers in South Africa threatened by the near collapse of the state rail and ports company, Transnet Instead of railing its grapefruit, lemons and oranges to the port of Durban, it sends them on 20-hour truck trips. Then they can spend days in queues outside the harbor before being shipped to countries such as South Korea and nations in the Middle East.

UAE'S IHC unit withdraws offer for Vedanta's Zambian copper mines over price

Published: 04 Jul 24

The UAE's International Resources Holding (IRH) has withdrawn a bid to buy a stake in Vedanta Resources' Zambian copper mines, it said on Wednesday, after talks collapsed because of a failure to agree on the assets' value. IRH, an arm of United Arab Emirate (UAE)'s International Holding Company, the emirate's richest company, had offered to buy a 51% stake in Vedanta's Konkola Copper Mines (KCM) for more than $1-billion, Reuters reported in April.

Vale picks mining veteran to lead base metals turnaround

Published: 04 Jul 24

Vale has selected veteran mining executive Shaun Usmar to take the helm of its base metals division as the Brazilian metals producer seeks to boost copper and nickel production, according to people familiar with the matter. The board of the Rio de Janeiro-based company chose Usmar to head Vale Base Metals, said the people, who asked not to be identified because the information isn’t public. The appointment has yet to be confirmed and it’s possible things could change, one of the people said.

Alaska sues to challenge new NPR-A oil and gas leasing rules

Published: 04 Jul 24

The state of Alaska on Wednesday said it has filed a lawsuit challenging new federal regulations imposed for oil and gas leasing in the National Petroleum Reserve-Alaska (NPR-A). In April, President Joe Biden's administration took steps to limit both oil and gas drilling and mining in Alaska.

Codelco sees copper output ticking up in second half of year

Published: 04 Jul 24

Chilean copper mining giant Codelco's output continued to decline year-on-year in the first half of 2024 but should tick up in the second half of this year, the chairman of the State-run miner, Maximo Pacheco, said on Wednesday. Pacheco said he did not expect to adjust this year's copper forecasts, and he did not expect opposition from Chinese lithium giant Tianqi to prevent its deal with SQM, the world's No. 2 producer of the key battery metal.

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.