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MinRes to shut Yilgarn iron-ore mine

Published: 19 Jun 24

Diversified miner Mineral Resources (MinRes) will shut its Yilgarn iron-ore mine, in Western Australia’s Goldfields region, at the end of the year. The decision, announced on Wednesday, follows an assessment that confirmed that it was not financially viable for the hub to continue beyond the calendar year.

Only 40% of developing-country utilities are financially sustainable, World Bank warns

Published: 19 Jun 24

The majority of electric utilities in developing countries are ill-equipped to meet growing demand for power and add more renewable energy into the grid, thereby hindering global energy transition goals to provide clean, reliable and affordable electricity to all, development cooperation organisation the World Bank reports. 'The Critical Link: Empowering Utilities for the Energy Transition' report, published this week, showed that only 40% of developing country utilities are able to cover their operating and debt service costs.

Corobrik sets out plans for its Rietvlei operations

Published: 19 Jun 24

Brickmaker Corobrik has outlined its plans for accessing prime clay at its Rietvlei operations, assuring that while it needs to remove coal deposits, it has no intention of becoming a coal producer. Natasha Odendaal has the story.

China is building Europe battery supply in Morocco, VW unit says

Published: 19 Jun 24

China is building a battery supply chain for Europe in Morocco, as the continent struggles to develop its own industry to feed electric-car manufacturing, PowerCo’s operations head said. “We don’t have any supply chain. This has to be set up,” Sebastian Wolf, chief operating officer for Volkswagen’s battery unit, said Tuesday at an event in Stuttgart. “Right now, we have to be honest that the set-up of LFP supply chain is happening in Morocco and not in Europe.”

WEF Energy Transition Index at its highest ever, but global progress slowing

Published: 19 Jun 24

The global energy transition to a more equitable, secure and sustainable energy system is still progressing, but has lost momentum in the face of increasing uncertainty worldwide, international economic organisation the World Economic Forum's (WEF's) Energy Transition Index (ETI) 2024 shows. The global average ETI scores reached a record high, but the slowdown in the pace of the global energy transition, first identified in 2022, has intensified in the past year.

Rio Tinto invests $165m in Quebec smelter

Published: 19 Jun 24

Diversified miner Rio Tinto has announced a $165-million (C$226-million) investment in its Grande-Baie smelter, located in Quebec. The investment aims to refurbish two anode baking furnaces that have reached the end of their operational lifespan. The company will also carry out feasibility studies for the eventual replacement of the scrubbers and overhead bridge cranes at the anode production centre.

South African inflation stable but still above central bank objective

Published: 19 Jun 24

South African inflation was stable in May, data showed on Wednesday, but analysts do not expect interest rate cuts any time soon as it remains above the central bank's desired level. Headline consumer inflation came in at 5.2% year on year in May, the same as in April, in line with the forecast of economists polled by Reuters.

B2Gold unveils new PEA for ‘medium-scale’ Gramalote project

Published: 19 Jun 24

Vancouver-headquartered B2Gold has unveiled a new preliminary economic assessment (PEA) for the Gramalote project, in Colombia, outlining a medium-scale operation that marks a shift from previous plans. The new PEA envisons an openpit mine producing an average of 185 000 oz/y of gold over a 12.5-year lifespan. In the initial five years, the mine is expected to yield 234 000 oz/y at an all-in sustaining cost of $822/oz.

Fruit and vegetables being sold at market

South Africa finds high prices, lack of competition in its fresh produce market

Published: 19 Jun 24

South Africa's competition watchdog has uncovered barriers to entry, distorted competition and price mark-ups in its fresh produce market, according to a provisional report released on Tuesday after an inquiry. Last year the Competition Commission launched the Fresh Produce Market inquiry in order to examine whether any features in the fresh produce value chain impede, restrict or distort competition in the market.

JCHX closes in on Zambian copper mine deal as China tightens Africa grip

Published: 19 Jun 24

JCHX Mining is close to concluding a deal to buy Zambia's Lubambe Copper Mine, two sources told Reuters, in the latest in a string of copper deals by Chinese companies intent on growing their control of the African copper mining industry. The Shanghai-listed mining services and contracting firm's deal to buy an 80% stake in Lubambe mine held by EMR Capital is now nearing completion, the sources said.