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Diamcor seeks to extend closing of second tranche of revised private placement
Published: 19 Jun 24
Diamond mining company Diamcor Mining is seeking to extend the closing of the second tranche of its non-brokered revised private placement following its announcement on June 4 that it had closed the first tranche. The company previously indicated that the original offering, announced on May 1, would be oversubscribed. Diamcor is therefore seeking additional time to accommodate and finalise the documentation and related required items for several additional interested investors.
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Namibia to have its own satellite tracking and data reception facility
Published: 19 Jun 24
The development of a satellite ground segment complex in Namibia has been approved by the Namibia Infrastructure Development and Investment Fund (NIDIF) management enterprise, Eos Capital. The development of the complex will be led by satellite service provider and now also emerging space satellite services sector infrastructure developer Q-KON Namibia (part of the South African Q-KON group). Q-KON Namibia is licensed by the Communications Regulatory Authority of Namibia. The project is dubbed the Namibia Space Port, although it will, as currently described, not actually be a space port. Strictly speaking, this term refers to a place from which spacecraft are launched from, and sometimes also return to, Earth.
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Taseko restarts mining at Gibraltar
Published: 19 Jun 24
Midtier copper miner Taseko Mines is resuming operations at its Gibraltar mine, in British Columbia, on Wednesday, as a labour agreement have been ratified.
The company announced earlier this week that it had reached an agreement with the union representing workers at Gibraltar. The new agreement will be in place until May 31, 2027.
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Ford’s new-generation Transit Custom offers a lower height, among other improvements
Published: 19 Jun 24
Featuring enhanced load-carrying capacity and improved driver comfort and convenience features, automotive company Ford South Africa has begun the introduction of the new Transit Custom commercial vehicle range. The Transit Custom launches in South Africa with the Base Long Wheelbase Van initially, with additional derivatives to follow later this year.
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AARTO demerit system set for mid-2025 launch, dealers urged to up admin game – NADA
Published: 19 Jun 24
Government aims for the system that will see road users accrue demerit points for road traffic offences to kick off in the middle of next year, says National Automobile Dealers' Association (NADA) chairperson Brandon Cohen. Within this long-delayed system, drivers can get 15 demerit points before their licences are suspended.
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South Africa sets target for resuming global rhino-horn trade
Published: 19 Jun 24
South Africa, where 79% of the world’s rhinos live, said it aims to come up with a plan by the end of 2030 to dismantle an almost half-century ban on trading the endangered animals’ horns. The proposal, contained in a draft of the country’s first rhino biodiversity-management plan released late Tuesday, is controversial because poaching of the animals for their horns has decimated their populations across Africa. The horns are ground into powder and sold in east Asia where they are falsely believed to cure cancer and other ailments. The country’s environment department will prepare a proposal for a resumption in trade to submit to the national cabinet for approval. It will depend on criteria related to the sustainability of rhino populations. That proposal would then be taken to a meeting of the Convention on International Trade in Endangered Species of Wild Flora and Fauna, under which the trade has been banned since 1977. The aim of the plan is that “conditions are met for legal international trade in rhino horn from protected wild rhinoceros, for conservation purposes, to be promoted,” the department said.
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Ramaphosa pledges to be a President for all South Africans in inaugural speech, as he warns against dissent
Published: 19 Jun 24
“The formation of a government of national unity is a moment of profound significance. It is the beginning of a new era.” This was the statement made by Cyril Ramaphosa in his inaugural speech, at the Union Buildings, where he pledged himself to be a President for all South Africans and to work with everybody committed to “a better life for all”. The inauguration, which was overseen by Chief Justice Raymond Zondo, and attended by various heads of State as well as former Presidents Thabo Mbeki and Kgalema Motlanthe, marks Ramaphosa’s second stint as South Africa’s leader, but this time, not only backed by his political party, the African National Congress, but also by other parties that make up the GNU. After losing its outright majority in the May 29 national and provincial elections the ANC was forced to forge alliances with other parties to form a national government. In his speech on Wednesday, Ramaphosa compared the GNU to the one that was formed 30 years ago, following the end of Apartheid. “In their multitude, in voices that are many and diverse, the people of South Africa have voted and made known their wishes, their concerns and their expectations. We accept and respect the results of the elections and we once again say the people have spoken. Their will shall be done without any doubt or question. The voters of South Africa did not give any single party the full mandate to govern our country alone. They have directed us to work together to address their plight and realise their aspirations,” he acknowledged. The President conceded that there were many areas in basic service delivery where the previous government fell short – electricity, jobs, land, housing, food, healthcare, safety, corruption – and assured South Africans that he would work with any political party and sector willing to help tackle the challenges facing the country.
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South African aircraft maintenance company to set new record this year for heavy checks
Published: 19 Jun 24
South African aircraft maintenance, repair and overhaul (MRO) concern, ExecuJet MRO Services South Africa, announced on Wednesday that it was on course to establish a new company record for airframe heavy maintenance checks this year. The enterprise specialises in business (also called executive) aircraft MRO services, and is a wholly-owned subsidiary of renowned French aerospace group Dassault Aviation. The new record that will be set this year will be for at least 11 airframe heavy maintenance checks. The South African company’s previous record was for seven such checks in a single year.
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Resources Watch
 Published: 19 Jun 24
This week: Copper 360 on home straight to produce quite a bit of cash, CEO reports; Reserve Bank concern about decline of public markets welcome development; and, Artificial intelligence used to eliminate need for rare earths in permanent magnets
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Fast-greening Richards Bay Minerals now eyeing on-site renewables, storage, aggregation
Published: 19 Jun 24
Energy-intensive Richards Bay Minerals (RBM), which consumes an average of 1.8 terawatts of power a year, was able to secure its latest 140 MW wind energy power purchase agreement (PPA) in six months. When operating at full capacity, RBMs, power consumption across its mining and smelting operations can reach up to 400 MW and this month’s quickly concluded wind PPA was, in fact, the second renewable-energy project of this Rio Tinto company.
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RBM Rio Tinto
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Riverstone Mall, South Africa
Published: 21 Jun 24
Green Turtle energy storage project, Belgium
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Trevago I and II solar photovoltaic plants, Spain
Published: 21 Jun 24
he Pathways Alliance, a group of Canada's biggest oil sands producers, has removed all content about environmental goals from its website and...
Pilbara Minerals eyes A$1.2bn road to double lithium output
Published: 21 Jun 24
Pilbara Minerals, Australia's biggest independent lithium producer, on Friday laid out a A$1.2-billion plan to double production capacity for...
Magazine round up | 21 June 2024
Published: 21 Jun 24
A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.
