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Botswana may fall short of 4.2% growth target

Published: 18 Jun 24

Botswana's economy may fall short of the government's 4.2% growth target for this year, a senior central bank official said on Tuesday, citing global and domestic constraints. Finance minister Peggy Serame made the projection for a 4.2% increase in GDP in a budget speech in February, saying the government expected growth to accelerate from 2023 due to an improved performance in the diamond sector. Gross domestic product grew 2.7% in 2023.

Diederichs becomes Predictive COO as firm bolsters management to support Guinea project progress

Published: 18 Jun 24

ASX-listed Predictive Discovery has made several key appointments to further strengthen its board and management team, to support progress with the 5.38-million-ounce Bankan gold project in Guinea. Alberto Lavandeira joins as non-executive director, bringing more than 45 years of development and operating experience across gold, copper and industrial minerals in Africa and Europe.

Malaysia is planning to join BRICS, PM says

Published: 18 Jun 24

Malaysian Prime Minister Anwar Ibrahim said that the Southeast Asian nation will join the BRICS economic bloc, becoming the latest country to take part in an expanding group seen challenging the western-led global order. “We have indicated as a policy that we are” joining, Anwar said in an interview with the Chinese news outlet Guancha aired ahead of a scheduled visit by Chinese Premier Li Qiang to Malaysia. “We have made a decision. We are placing the formal procedures soon.”

Galantas’ Omagh trial stoping proves viability of mining method

Published: 18 Jun 24

TSX-V-listed Galantas Gold has completed its trial stoping programme at the Cavanacaw gold mine at the Omagh project in county Tyrone, Northern Ireland. This programme has enhanced the company’s understanding of the mine development process and confirmed the viability of using a longhole mining method with backfill at Cavanacaw. “The trial stoping has provided sufficient information to bring a high level of confidence for a successful stoping programme in the future,” stated CEO Mario Stifano.

Reserve Bank to first cut repo rate in November - Reuters poll

Published: 18 Jun 24

South Africa's Reserve Bank is seen waiting until November before it cuts its repo rate as economists continue to roll back their expectations when policy easing kicks off in response to slowing inflation, a Reuters poll found. The poll was taken before the African National Congress and its largest rival, the white-led, pro-business Democratic Alliance, agreed on Friday to work together in a new government of national unity, a step change after 30 years of ANC rule.

Rolls-Royce unveils hybrid electric powerpack for armoured vehicles

Published: 18 Jun 24

UK-based global major power and propulsion systems group Rolls-Royce has announced that its Germany-based Power Systems division had launched a hybrid diesel and battery-electric powerpack concept for armoured vehicles. The new powerpack is being showcased at the Eurosatory defence exhibition currently under way in Paris. Rolls-Royce Power Systems’ mtu brand has a long and successful record in providing diesel power plants for armoured vehicles operated by North Atlantic Treaty Organisation (Nato), and other, countries.

Stor-Age reports strong financial performance

Published: 18 Jun 24

JSE-listed self-storage real estate investment trust Stor-Age has reported robust financial results for the 2024 financial year ended March 31, showcasing significant growth in rental rates and occupancy. The company reported a 9.5% boost in rental rates and a 2.9% increase in occupancy rates, while same store rental income rising by 12.7% year-on-year in South Africa.

TNPA's head office at the Port of Ngqura

TNPA moves to integrate desalination, renewables at Port Elizabeth and Ngqura ports

Published: 18 Jun 24

South Africa’s Transnet National Ports Authority (TNPA) has issued requests for proposal (RFPs) for the construction of two solar-powered seawater desalination plants and a hybrid renewables-battery facility to service its Nelson Mandela Bay ports, in the Eastern Cape. TNPA is seeking bidders capable of designing, constructing and operating solar-powered seawater desalination plants with a capacity of 0.8 megalitres and 0.5 megalitres of potable water, respectively, for the ports of Port Elizabeth and Ngqura.

Debswana reports fatality at its Jwaneng mine

Published: 18 Jun 24

Botswana's Debswana Diamond Company on Tuesday reported a fatality at its Jwaneng mine following an accident involving a crane and drill rig. The incident, which took place on Monday, involved an employee of one of Debswana's contracting companies, it said in a statement. Investigations into the incident are ongoing, Debswana added.

Thungela Resources active in Mpumalanga.

Thungela poised to spend R3.9bn capital in South Africa

Published: 18 Jun 24

Johannesburg Stock Exchange-listed Thungela Resources is poised to spend R3.9-billion worth of capital in South Africa going forward. An estimated R1.3-billion of this capital expenditure (capex) is scheduled to be spent in the next six months and a further R800-million in the final six months of the company’s financial year to end June 2025.