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Image of Southern African Association of Freight Forwarders (SAAFF) CEO Dr Juanita Maree

Yes, there are problems at SA ports, but World Bank report not entirely accurate – SAAFF

Published: 18 Jun 24

The newest World Bank Container Port Performance Index (CPPI) report, which places a number of South African ports at the bottom of the list, covers the crisis-ridden 2023 period, and does not take into account the corrective action taken since Transnet has been under new management as part of a recovery and transformation strategy, says Southern African Association of Freight Forwarders (SAAFF) CEO Dr Juanita Maree. “To contextualise, this was a period at the height of the crisis.

Paul Mashatile and Cyril Ramaphosa at the first sitting of the seventh democratic Parliament on June 14 where Ramaphosa was re-elected President by the National Assembly

S&P does not foresee any significant policy shift under GNU

Published: 18 Jun 24

S&P Global Ratings does not expect any significant policy shift as a result of South Africa's government of national unity (GNU) formed following the May 29 elections when the African National Council (ANC) failed to secure an overall majority for the first time since 1994. The ANC’s GNU proposal was opened to all parties and a Statement of Intent outlining principles and basic minimum programme of priorities has been signed by the Democratic Alliance, the Inkatha Freedom Party, and the Patriotic Alliance, with others parties also expected to join.

V&A executive manager: operations André Theys

V&A Waterfront signs deal to raise green-electricity contribution to 70% by 2026

Published: 18 Jun 24

Cape Town’s V&A Waterfront has signed a ten-year power purchase agreement (PPA) with Etana Energy for 43 GWh of renewable energy yearly, which will result in wind and solar supplying 70% of the iconic mixed-use property’s electricity by early 2026. The PPA follows a similar deal between Etana Energy and Growthpoint Properties for 195 GWh of renewable energy annually, representing 32% of the property group’s total yearly consumption. Growthpoint Properties is the joint owner of the V&A Waterfront with the Public Investment Corporation.

An image showing a rig at the Dasa project

Global Atomic’s Niger project nearing financing from US development bank

Published: 18 Jun 24

TSX-listed Global Atomic is on the verge of securing financing for the development of the Dasa uranium project in Niger. Among the approaches is a proposed $295-million debt financing led by a US development bank that is progressing towards approval. In addition to debt financing, Global Atomic has received multiple offers for pre-payments on uranium delivery contracts, strategic equity investment, minority joint venture investments at project level and equity financing from various institutions and private equity firms.

Parliament must play central role in GNU – business

Published: 18 Jun 24

Business Leadership South Africa (BLSA) noted on Tuesday that in addition to ensuring accountability and being effective in the law-making process, Parliament must be careful not to frustrate reform through unnecessary delays, as South Africa ushers in the Government of National Unity (GNU). The business community congratulated President Cyril Ramaphosa on his re-election as President, also welcoming the election of National Assembly Speaker Thoko Didiza and her deputy Annelie Lotriet.

Nevada Copper initiates sales process amid Chapter 11 bankruptcy

Published: 18 Jun 24

Nevada Copper, the financially troubled owner of the Pumpkin Hollow copper mine, has initiated a sales process as part of its ongoing Chapter 11 bankruptcy restructuring. The company has appointed Moelis & Company to oversee the sale.

Cornish to dispose of Canada’s Nickel King property

Published: 18 Jun 24

Aim- and TSX-V-listed Cornish Metals has announced the sale of its 100% interest in the Nickel King and Opescal Lake properties, in Canada’s Northwest Territories, to Northera Resources for up to C$8-million. The sale of Nickel King aligns with Cornish Metals’ objective to focus its efforts on advancing its 100%-owned and fully permitted South Crofty tin project, in the UK, towards a construction decision.

Fraud cops investigating ex-Glencore staff plan to press charges

Published: 18 Jun 24

British prosecutors investigating former Glencore employees over bribery allegations said they plan to bring long-awaited criminal charges. More than 18 months after first revealing that as many as 11 ex-staffers were under investigation, the Serious Fraud Office told a London judge on Monday that it had sought government approval to charge individuals. It’s the first time the agency has committed to press individual criminal convictions following Glencore’s own guilty plea in 2022.

Orano at risk of losing Niger uranium mine sought by Russia

Published: 18 Jun 24

Orano could lose the right to mine uranium at one of the largest deposits in the world by June 19 after Niger rejected the French nuclear company’s plan for developing the asset. The move comes as Russia’s seeks to take over mining assets in the West African country controlled by the French company, Bloomberg reported on June 3. Niger’s Paris-allied president was overthrown in a coup last July, the latest in a string of military takeovers in the region that has seen strongmen spurn ex-colonial power France and forge closer ties with Moscow.

Bill Gates says he's ready to put billions into nuclear power

Published: 18 Jun 24

Bill Gates said he’s prepared to plow billions of dollars into a next-generation nuclear power plant project in Wyoming to meet growing US power needs. TerraPower, a startup founded by Gates, broke ground for construction of its first commercial reactor last week in Wyoming, where a coal plant is shutting down, the billionaire co-founder of Microsoft Corp. said on CBS’s Face the Nation. TerraPower has explored simpler, cheaper reactors since 2008 and expects to complete the new reactor in 2030.