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MC Mining signs R20m loan agreement with shareholder

Published: 28 Jun 24

Coal miner MC Mining has entered into a R20-million, or $1.1-million, loan facility with South Africa-based private company Dendocept for working capital purposes. Dendocept has a 6.8% shareholding in MC Mining.

Eskom to hit CO2 targets despite coal plant extension, CEO says

Published: 28 Jun 24

South Africa's state power company Eskom will meet its target to reduce carbon emissions by 71-million metric tons a year by the end of the decade, its new CEO said on Friday, despite scrapping plans to retire six coal-fired power stations by then. But CEO Dan Marokane said Eskom's immediate priority was bringing an end to the power blackouts that have devastated the economy of Africa's most industrialised nation over the past few years.

DRDGOLD assessing its alignment with Responsible Gold Mining Principles

Published: 28 Jun 24

Gold mining company DRDGOLD has started self-assessment in line with the World Gold Council (WGC) Responsible Gold Mining Principles (RGMPs) to determine conformance levels across all DRDGOLD operations. The self-assessment process started in May, after the company joined the WGC last year. Progress on the alignment of internal systems and processes towards conformance with the RGMPs will be published in the first quarter of next year, DRDGOLD said on June 28.

Hudaco’s interim performance hampered by suspended loadshedding

Published: 28 Jun 24

Diversified consumer and engineering products group Hudaco has faced a challenging start to the 2024 financial year, with the reduction in loadshedding negatively impacting on some of its alternative energy businesses, resulting in an overall lacklustre set of interim results. "It's been a rather challenging six months for us, I think for most of South African business. There was reduced loadshedding, but we have an up and down factor in that, when there is loadshedding, we have some businesses that tend to perform well, but when there's no loadshedding, that business kind of falls away,” Hudaco CEO Graham Dunford said at the release of Hudaco’s interim results for the six months ended May 31.

Marula starts shipping manganese from Larisoro mine to Mombasa port

Published: 28 Jun 24

London- and South Africa-listed battery metals miner Marula Mining has successfully started manganese ore shipping from the Larisoro manganese mine, in Kenya. Marula is transporting about 1 000 t of manganese ore from the mine to Nairobi under a recently signed export logistics agreement with Scan Global Logistics Kenya (SGLK).

Nersa approves tariff increases for new financial year, City Power unpacks higher charges

Published: 28 Jun 24

The National Energy Regulator of South Africa (Nersa) has approved the tariff applications of 178 licenced electricity distributors, including municipal and private distributors, for the 2024/25 financial year. The new tariffs become effective on July 1.

SolarSaver showcases innovations of its latest solar installation in Melrose Arch precinct

Published: 28 Jun 24

Energy company SolarSaver has successfully completed a solar installation at the Marriott Hotel Melrose Arch and the African Pride Hotel, both of which are based in the Melrose Arch precinct in Gauteng. Owing to the limited available roof space for solar panel installation, SolarSaver collaborated with property developer Amdec Group to find a solution.

PRASA passenger numbers reach 40-million a year, up 167% – Emeran

Published: 28 Jun 24

The Passenger Rail Agency of South Africa (PRASA) is “making steady and significant progress in getting passenger trains back on track”, with the urban rail service carrying about 40-million passengers in 2023/24 on 31 of the 40 PRASA rail corridors now operational, says CEO Hishaam Emeran. Emeran says passenger numbers have climbed by almost 25-million from a year ago.

Minerals Council CEO Mzila Mthenjane (left) and VP Paul Dunne.

South Africa will be well represented at Shanghai Platinum Week, Minerals Council assures

Published: 28 Jun 24

South Africa will be well represented at the upcoming Shanghai Platinum Week 2024, which takes place from July 8 to 11, Minerals Council South Africa VP Paul Dunne has highlighted. This major event will occur amid the growth in demand for platinum group metals (PGM) applications in China being extremely high, which makes detailed access to the Chinese market hugely advantageous for South Africa.

Dealmakers optimistic on global M&A prospects despite sluggish growth

Published: 28 Jun 24

Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that has made valuations pricey weighed on dealmaking in the last three months.