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Fortress reports positive operational performance amid logistics demand, disposals and capital recycling
Published: 20 Jun 24
Real estate company Fortress Real Estate Investments says healthy logistics demand, disposals of noncore assets and effective capital recycling continue to drive its positive operational performance. In a pre-close operational update for the period from January 1 to May 31,  Fortress notes that South African logistics portfolio vacancies, based on rental, increased from 1.1% as at December 31, 2023, to 2% as at May 31.
The Kainatu mine, in Papua New Guinea K92 closes and upsizes Trafigura loan
Published: 20 Jun 24
Gold miner K92 Mining has announced two new credit facilities with Trafigura to replace a previous loan, upsizing its facility from $100-million to $120-million. Under an accordion feature, the company, which operates the Kainatu gold mine, in Papua New Guinea, can increase the aggregate amount to $150-million.
Sienna acquires new gold project in Saskatchewan
Published: 20 Jun 24
TSX-V-listed Sienna Resources has announced the acquisition of the Stonesthrow gold project, in Saskatchewan. The new project directly borders the Ramp Metals discovery, where multiple zones of gold mineralisation were recently announced, including 73.55 g/t gold and 19.5 g/t silver.
Lekau ‘Solly’ Letsoalo Transnet appoints Letsoalo as new group COO
Published: 20 Jun 24
State-owned freight logistics group Transnet has announced the appointment of Lekau ‘Solly’ Letsoalo as group COO, with effect from July 1. Letsoalo returns to the group where he worked previously as COO of Transnet Port Terminals.
Transnet to appeal order to pay billions in damages following long-running Natref dispute Transnet to appeal order to pay billions in damages following long-running Natref dispute
Published: 20 Jun 24
The High Court has found in favour of Sasol Oil and TotalEnergies in relation to a long-running dispute with Transnet over pipeline tariffs from Durban to the Natref refinery and has awarded damages and interest to the two oil companies amounting to more than R8-billion. Transnet expressed disappointment at the judgment, which it said it intended appealing.
Agnico unveils Detour Lake's pathway to 1Moz/y Agnico unveils Detour Lake's pathway to 1Moz/y
Published: 20 Jun 24
Canadian mining company Agnico Eagle Mines has unveiled an ambitious plan to boost production at its Detour Lake mine, in Ontario, to an average of one-million ounces a year over a 14-year period, starting in 2030. This increase is outlined in the New York- and Toronto-listed company’s newly released 2024 life-of-mine plan (LOMP), which includes both updated mineral reserve and resource estimates and a preliminary economic assessment (PEA) for concurrent openpit and proposed underground operations.
New wagons being built for use on the Lobito railway corridor South African manufacturer to provide 275 new container wagons to Lobito railway project
Published: 19 Jun 24
Joint venture (JV) company Lobito Atlantic Railway (LAR), which is the concession holder for the operation, management and maintenance of the Lobito Corridor spanning Zambia, Angola and the Democratic Republic of Congo (DRC), has placed an order for 275 new container wagons from South African company Galison Manufacturing for an undisclosed sum. The container wagons will be delivered in three tranches, with the first wagons due to arrive in Lobito from the fourth quarter. They will be able to carry 10 ft, 20 ft and 40 ft long containers, providing flexibility in terms of the kinds of loads to be transported.
Companies collaborate to enhance solar PV compliance, recycling practices
Published: 19 Jun 24
In a bid to champion extended producer responsibility compliance and solar PV recycling practices, producer responsibility organisation (PRO) Circular Energy has embarked on a strategic partnership with PV CYCLE. PV CYCLE is a European PRO offering compliance and managing the end-of-life phase of PV panels and the recovery of all its materials.
Errol Smart South Africa now a compelling world investment story, upbeat Orion highlights Has Video
Published: 19 Jun 24
“The sun is finally shining on us,” an upbeat Orion Minerals CEO Errol Smart enthused during an Australia/South Africa webinar on Wednesday, when he outlined how South Africa has become one of the world’s most compelling short-term investment stories. Predicting that this country's investment narrative would super heat over the next couple of weeks, he pointed out how strongly this was advancing Orion’s Prieska copper project, where trial mining has been under way for some time, as well as Orion's high-grade Okiep copper project, which is following closely behind.
Sanea appoints Msimanga as secretary-general
Published: 19 Jun 24
The South African National Energy Association (Sanea) has appointed Xolile Msimanga as its new secretary-general, succeeding Wendy Poulton, who stepped down from the role, but remains on the board for another term of office. In a media release, the association says Msimanga brings a wealth of experience and a fresh perspective to Sanea.
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