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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.

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.