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Theta raises another $4m for South Africa gold project

Published: 26 Jun 24

ASX-listed Theta Gold Mines has received firm commitments from investors to raise a further A$4-million (A$6.02-million) in equity funding to advance its TGME gold plant, in South Africa. The placement is in addition to the two-tranche, $10-million placement announced last month.

Nolitha Fakude, Thuli Madonsela, Mzila Mthenjane and Paul Miller.

Mining central to South Africa’s socioeconomic wellbeing, AGM hears

Published: 26 Jun 24

Given its far-reaching multiplier effect, mining is the epicentre of South Africa’s economy and social wellbeing and has been at the heart of its economic progress and development for much of this country's history, Minerals Council South Africa's 134th AGM attendees heard in Johannesburg on Wednesday. Simply put, a R1-million increase in mined output results in 2.5 economy-wide job opportunities.

Legislative certainty amid government shuffle crucial for continued renewable-energy investment

Published: 26 Jun 24

A clear and certain legislative framework is critical for enabling sustainability and green energy investments in South Africa going forward, especially given the changes taking place in government following unprecedented outcome of the May 29 elections, Absa Corporate and Investment Banking (CIB) environmental, social and governance head Msizi Khoza has said. Speaking at a media roundtable event at the Absa headquarters, in Sandton, on June 26, he emphasised the well-documented transformative effect of clear and consistent legislation on the renewable energy sector.

Gauteng municipalities urged to comply with STS rollover before November

Published: 26 Jun 24

The South African Local Government Association (Salga) has urged municipalities across Gauteng to comply fully with the November 24 deadline for the implementation of the Standard Transfer Specification (STS). The STS is an internationally recognised standard for the transfer of electricity and other utility prepayment tokens and is used by more than 500 utilities in more than 40 countries worldwide.

Copper market facing renewed caution from investors

Published: 26 Jun 24

With the demand for copper having increased amid the global energy transition, Benchmark Mineral Intelligence project manager: energy transition commodities Piotr Ortonowski described this year as “the year of the unexpected” for copper. Speaking at a panel discussion at this year’s London Indaba under the theme ‘Copper: defying gravity- or was it all just hype?’, he explained that this year was expected to be a year of oversupply, with a few big mining projects still ramping up.

Companies need to adjust operating, business models amid growth in generative AI

Published: 26 Jun 24

Generative AI (genAI) is having a measurable impact on companies that adopt these systems, and 58% of workers that are using genAI are able to save five hours a week in work time, the 'AI at Work in 2024' report, published by consulting firm Boston Consulting Group (BCG), shows. The focus of companies is now shifting from adoption of the technology to using the increased availability of employees' time to add value or improving the satisfaction of employees, says BCG technology design division BCG X global leader Sylvain Duranton.

Resources Watch

Published: 26 Jun 24

This week: Fast-greening Richards Bay Minerals now eyeing on-site renewables, storage, aggregation; and, South Africa now a compelling world investment story, upbeat Orion highlights

South Africa continues to push for long extension to Agoa well ahead of 2025 expiry

Published: 26 Jun 24

With the expiry of the Africa Growth and Opportunity Act 15 months away, South Africa is continuing to call for an early and substantial extension of the preferential trade arrangement, which has been in place since 2000. Department of Trade, Industry and Competition chief director for bilateral trade relations Malose Letsoalo reported this week that South Africa remained optimistic that Agoa would be extended beyond its September 2025 expiry date.

Boeing now sources nearly 40% of its electricity from renewable energy

Published: 26 Jun 24

Last year, US-based global major aerospace group Boeing sourced 39% of its energy from renewable electricity sources. This was achieved through a combination of direct buys and renewable energy credits. This was one of the highlights revealed by Boeing’s just-released 2024 Sustainability & Social Impact Report. “We’re honoured to share the steady progress we’ve made on sustainability, which will always be anchored in safety and quality,” affirmed Boeing Chief Sustainability Officer Brian Moran. “As we recommit to these fundamental values, it is energising to see our company’s focus on helping our industry decarbonise while uplifting our communities and driving a culture of inclusion where everyone’s voice is heard.”