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Gold Road makes readiness advancements at Yamarna
Published: 27 Jun 24
Australian mining company Gold Road is making good progress advancing its 100%-owned resources towards mine readiness at Yamarna, east of Laverton in Western Australia.
The mine readiness programme includes drilling and studies designed to unlock future value from the Yamarna tenements.
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Tribunal approves Bidshelf 93’s acquisition of Dekra Automotive
Published: 27 Jun 24
The Competition Tribunal has approved the intended transaction in which heavy and light vehicle sales company Bidshelf 93 will acquire vehicle testing, inspection and certification company Dekra Automotive. The tribunal has approved the proposed merger with conditions relating to the procurement and supply of services, as well as the exchange of competitively sensitive information.
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Tribunal approves Prax’s Natref stake buyout, with conditions
Published: 27 Jun 24
The Competition Tribunal has approved the merger in which oil refining and logistics company Prax will acquire energy company TotalEnergies' interest in refinery National Petroleum Refiners of South Africa (Natref). The tribunal has approved the proposed transaction subject to conditions, which involve historically disadvantaged persons transactions and capital expenditure commitments.
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TNPA issues RfI for Port of Mossel Bay marine loading facilities operator
Published: 27 Jun 24
The Transnet National Ports Authority (TNPA) has published a request for information (RfI) calling on interested terminal operators to submit proposals for the refurbishment, financing, operation, maintenance and hand-back of the single point mooring and conventional buoy mooring marine loading facilities at the Port of Mossel Bay. The marine loading facilities are located offshore the Port of Mossel Bay and are used to load and discharge petroleum products to meet liquid bulk customer demands and ensure security of supply for mainly the Garden Route and Southern Cape region.
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South African food inflation remained below CPI headline inflation in May
Published: 27 Jun 24
In May, for the third month in a row, South African food and non-alcoholic beverage (NAB) inflation, hereafter to be referred to simply as food inflation, ran at a level below that of consumer price index (CPI) headline inflation, reported the Bureau for Food and Agricultural Policy (BFAP) in its latest Food Inflation Brief report. Year-on-year (y-o-y) food inflation was 4.7% last month, while CPI headline inflation was 5.2%. In month-on-month (m-o-m) terms, the two rates were effectively flat, ...
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Damen renews NIP agreement with dtic; celebrates more than 40 vessels built at Cape Town shipyard
Published: 27 Jun 24
Damen Shipyards Group (DSG) has signed a new strategic partnership agreement with the Department of Trade, Industry and Competition (dtic) as part of the National Industrial Participation (NIP) programme. Under the agreement, Damen subsidiary Damen Shipyards Cape Town (DSCT) will continue its localisation work and industrial participation “to the benefit of the South African shipbuilding industry and economy”, says the Dutch-owned group.
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Petra shares plans to reduce operating costs, appoints new CFO
Published: 27 Jun 24
London-listed Petra Diamonds has shared its plan for a sustainable reduction of $30-million a year in operating costs from the 2025 financial year, as well as a smoothing of its development and sustaining capital profile to about $100-million a year at its South African operations to target free cash generation through the cycle. At an investor day presentation, in London, England, on June 27, Petra said approved extension projects were expected to be self-funded, with production growth to over 3.4-million carats expected by the 2028 financial year.
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South Africa achieves first primary budget surplus in 15 years
Published: 27 Jun 24
South Africa achieved its first primary budget surplus in 15 years as it took a stern approach to funding State-owned companies that have drained government finances. Africa’s most-industrialised economy posted a primary surplus — when revenue exceeds non-interest expenditure — of R31.6 billion or 0.4% of gross domestic product in the year through March 2024, data in the South African Reserve Bank’s Quarterly Bulletin published on Thursday showed. That matched the National Treasury’s February forecast. “The decline in non‐interest expenditure was driven by lower voted expenditure, largely owing to the sharp decline in payments for financial assets, reflecting government’s limited recapitalisation of State-owned companies,” the central bank said. The data shows that Finance Minister Enoch Godongwana held a firm line on funding to debt-stricken State companies like ports and railways operator Transnet, providing relief only if they meet strict conditions including implementing recovery plans and selling non-core assets. In his February budget, he provided no new bailouts to state firms.
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Experts unpack the evolution of ESG across the mining value chain
 Published: 27 Jun 24
Environmental, social and governance (ESG) has evolved to being driven by external factors such as shareholder activism and investor confidence, rather than regulatory frameworks, finds a panel discussion hosted by Creamer Media on June 26. ESG strategies are also becoming increasingly data-driven, with quantifiable and measurable outcomes and thorough reporting, which many mining companies are doing voluntarily.
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New Pacific shares PFS results for Bolivia silver asset
Published: 27 Jun 24
Toronto-listed New Pacific Metals has announced the results of its prefeasibility study (PFS) for the Silver Sand project, in Bolivia, confirming its potential to become a high-grade, low-cost pure silver producer.
This, CEO Andrew Williams says, sets it apart as a rare and valuable asset in the industry.
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Hendrina Wind Farm, South Africa
Published: 28 Jun 24
Maydon Wharf precinct liquid bulk facility, South Africa
Published: 28 Jun 24
Kaminho deep-water project, Angola
Published: 28 Jun 24
Demonstrating its broad commitment to education, entrepreneurship and leaving a positive legacy in the Johannesburg central business district...
Tianqi asks Chile regulator to reconsider decision on SQM-Codelco deal
Published: 28 Jun 24
China's Tianqi Lithium has appealed Chile's financial regulator to reconsider its decision about the SQM-Codelco lithium deal not needing...
FQM to launch formal arbitration versus Panama in July
Published: 28 Jun 24
Canadian miner First Quantum Minerals will launch formal arbitration proceedings against Panama in July over the country's decision to close the...
