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Peru miner Volcan eyes $200m in further asset sales

Published: 18 Jun 24

Volcan Cia Minera, the Peruvian zinc miner that was recently acquired by Argentine group Integra Capital, said it is pushing ahead with plans to sell non-core assets as it talks with creditors to refinance a pile of debt coming due in the coming years. The company, in which Glencore sold a controlling stake last month, is looking to divest its holding in a Chilean cement maker as well as real estate near the new Peruvian port of Chancay on the Pacific coast, said CEO Luis Fernando Herrera. It has already sold two hydroelectric plants for more than $78-million.

Eskom targets JETP funds and partnerships for 2 GW clean-energy pipeline

Published: 14 Jun 24

Having recently confirmed a decoupling of its just energy transition strategy from the decommissioning of its coal-fired power stations, Eskom is aiming to finalise business cases for a pipeline of renewable energy and battery storage projects, some of which could be deployed in close proximity to its existing coal stations. CEO Dan Marokane reports that that its so-called repowering and repurposing pipeline includes 50 projects with a combined capacity of 2 172 MW and which could create 1 754 permanent jobs.

Gemdax co-founder and partner Anish Aggarwal.

Probably more diamond industry uncertainty now than at any other point – Gemdax

Published: 14 Jun 24

While the diamond sector probably has more uncertainty now than at any other point, participants also probably have a bigger opportunity than ever to shape what the future will look like. “One thing's for sure, the way the industry has operated over the last decade is not going to be the way it operates in the next decade.

Unity government parties back rapid economic growth

Published: 14 Jun 24

South Africa’s African National Congress and the Democratic Alliance committed to “rapid, inclusive and sustainable” economic growth in an agreement on forming a so-called government of national unity. The accord, signed in Cape Town on Friday, sets the revival of South Africa’s economy as the first of 11 priorities that the incoming administration will focus on. It touts fixed capital investment, structural reforms and fiscal sustainability as key objectives to getting the economy back on track.

Transnet to boost rail for VW, other automakers

Published: 14 Jun 24

Transnet said it’s in talks to run additional trains between a port in Gqeberha in the Eastern Cape province and the country’s commercial hub of Gauteng to better link the two automotive manufacturing hubs. The state freight rail and ports company has faced withering criticism from carmakers to coal and iron ore miners as its deteriorating rail service has forced an increasing amount of commodities and cars to be transported by trucks. The head of Volkswagen’s South African unit has said car companies are in talks with Transnet to improve the line and run privately-operated trains on it.

South Africa unity government to include ANC and pro-business DA

Published: 14 Jun 24

The African National Congress and its largest rival, the pro-business Democratic Alliance, have agreed to work together in a government of national unity, senior DA negotiator Helen Zille told Reuters on Friday. The deal between two sharply antagonistic parties marks the start of a new era in South African politics, which has been utterly dominated by the ANC since it swept to power in the 1994 elections that marked the end of apartheid. The ANC lost its majority for the first time in a May 29 vote and has spent two weeks locked in intensive behind-the-scenes talks with other parties, which came down to the wire on Friday morning as the new parliament was convening.

Bibiani sulphide recovery plant long-lead items expected by mid-August – Asante

Published: 14 Jun 24

Ghana-focused Asante Gold has reported substantial progress at its sulphide recovery plant at the Bibiani gold mine, with the principle long-lead equipment expected to be delivered to site by mid-August. Installation of the sulphide recovery plant is expected to improve gold recovery and have a significant impact on the all in sustaining cost (AISC) per ounce produced and the profit margins at Bibiani. Gold recovery from sulphide ore is expected to increase from 70% to about 92%, the company said.

Image of the smart lane MyCiTi system in Cape Town

Cape Town introduces reversible MyCiTi bus lane to reduce congestion

Published: 14 Jun 24

The City of Cape Town’s Transport Network Technology branch is set to activate a reversible MyCiTi bus lane along the R27 between Loxton road and Broad road in Milnerton. This bus lane, for exclusive use by MyCiTi vehicles, will permit inbound travel towards the Civic Centre in the morning, and outbound travel towards Table View in the afternoon.

G7 leaders commit to faster transition from fossil fuels - draft statement

Published: 14 Jun 24

Leaders of the Group of Seven (G7) developed democracies will commit to accelerating their transition away from fossil fuels during this decade, according to a draft of a statement to be issued at the end of their ongoing summit in Italy. "We will transition away from fossil fuels in energy systems in a just, orderly, and equitable manner, accelerating actions in this critical decade, to achieve net-zero by 2050 in keeping with the best available science," says the draft seen by Reuters.

Global rate of air passenger baggage being mishandled continues to drop

Published: 14 Jun 24

SITA, the global aviation industry’s specialist IT and technology solutions group, has reported that the rate of baggage mishandling by the world’s airlines declined again, last year. This was shown by the just launched SITA Baggage IT Insights 2024 report. The number of bags mishandled by the global commercial aviation industry fell from 7.6 per 1 000 passengers in 2022, to 6.9 per 1 000 last year, despite the growth in air passenger traffic (which exceeded the levels of 2019, the first time in five years that this has happened). Over the period 2007 to 2023 inclusive, the baggage mishandling rate dropped by 63%, although the number of air passengers rocketed by 111%.