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Lure of Anglo's copper mines could test BHP's spending resolve

Published: 20 Dec 24

BHP, the world's biggest miner, would need to offer a minimum 40% premium over Anglo American's share price to make a renewed takeover bid now the rival's value has been boosted by asset sales, two sources close to the matter told Reuters. As diversified miners shift their focus to metals needed for the transition to cleaner energy, copper, with multiple uses from power to construction, has attracted intense interest.

Barminco equipment being used underground

Perenti secures A$185m of new work and a contract extension

Published: 20 Dec 24

Mining services provider Perenti has announced the execution of new contracts and an extension to an existing contract for the company’s subsidiary businesses. These contracts are expected to contribute revenue of about A$185-million. The ASX-listed company’s underground mining business Barminco has started mobilisation at Focus Minerals' Bonnie Vale gold project, in Western Australia.

Municipalities spend 22% of budget in the first quarter of the 2024/25 financial year

Published: 20 Dec 24

The National Treasury, on December 20, published the local government revenue and expenditure report for the first quarter period from July 1 to September 30, which showed that aggregate spending by municipalities was 21.6%, or R140.4-billion, of the total adopted expenditure budget of R649.9-billion for the financial year ended February 2025. Aggregated billing and other revenue were 26.4%, or R172.3-billion, of the total adopted revenue budget of R652.3-billion. Capital expenditure amounted to R9.2-billion, or 11.9%, of the adopted capital budget of R77.4-billion.

France's Orano launches arbitration against Niger over mining licence

Published: 20 Dec 24

French nuclear fuels company Orano said on Friday it had started arbitration proceedings against Niger, after Niger withdrew the mining licence of Orano's subsidiary Imouraren. Niger's military-led government has stepped up pressure in recent months on foreign investors. A representative for the government did not immediately respond to a request for comment.

SME business-building MoMo chatbot reaches 1m entrepreneurs in Côte d’Ivoire, Uganda

Published: 20 Dec 24

About one-million small businesses in Côte d’Ivoire and Uganda have digitised their operations, increased the use of digital financial services and accessed digital marketplaces through the MoMo Coach chatbot, which aims to enhance the resilience and growth of small businesses by providing essential digital skills. This programme is part of payment company Mastercard Centre for Inclusive Growth's global Mastercard Strive initiative and is supported through a partnership between Mastercard, mobile network subsidiary MTN Group Fintech and education technology company Arifu.

A view of a part of the Marda operations area

Leeuwin to acquire Ramelius' Marda gold opreations

Published: 20 Dec 24

ASX-listed Leeuwin Metals has entered into a binding share sale agreement with fellow ASX-listed Ramelius Resources to acquire the Marda gold operations, in Western Australia, for up to A$2-million in cash and shares. The Marda Operations include the highly prospective Marda gold project, which spans over 500 km² of granted mining, exploration and prospecting leases and hosts eight openpits and numerous historical workings, with significant exploration potential highlighted by multiple high-priority targets requiring immediate follow-up work.

Prosus chair’s trust sells €156m of shares for hotel growth

Published: 20 Dec 24

A family trust linked to Koos Bekker — one of South Africa’s richest people — sold about €156-million of shares in Internet investing giant Prosus to fund building operations at hotels in South Africa, the UK and Italy. The trust associated with the billionaire who chairs the company sold 3.9-million shares over three days this week, Amsterdam-based Prosus said in a statement Thursday.

An Eskom power station and transmission infrastructure

Eskom risk premium falls as turnaround wins over bond investors

Published: 20 Dec 24

Eskom Holdings’s risk premium is dwindling as a turnaround at South Africa’s State-owned electricity company gathers momentum. The extra yield investors demand to take on the risk of holding the utility’s dollar debt without the benefit of a government guarantee narrowed to the lowest on record following the publication of the utility’s results on Thursday. And the yield premium over comparable US Treasuries is also at the lowest since the Eskom securities were issued in 2018.

Andrada reports positive third-quarter production results

Published: 20 Dec 24

Aim-listed critical raw materials producer Andrada Mining reported a 15% year-on-year increase in contained tin production to 232 t for the third quarter of the 2025 financial year, ended November 30. The company processed 239 240 t of ore during the quarter, up 5% from the 228 234 t processed in the third quarter of the 2024 financial year. Improvements in plant performance were key contributors to this growth, with a tin recovery rate increasing by 12% year-on-year to 74% and plant use rising to 93%, up from 86% in the same period the year before.

Petra lowers price projections, starts retrenchment process

Published: 20 Dec 24

Amid continued weakness in the global diamond industry, London-listed Petra Diamonds has lowered its price expectations for 2025 and initiated a Section 189 retrenchment process affecting the group and its South African Operations support functions, as it works to save costs and generate additional cash. It has appointed Vivek Gadodia chief restructuring officer to lead this work.