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An image of flags with Eskom's logo Eskom replaces over 400 transformers damaged by overloading
Published: 12 Jun 24
State-owned utility Eskom says that, to date, it has replaced 400 transformers damaged by network overloading since January. The entity points out that, as demand for electricity rises while temperatures fall with the onset of winter, the issue of network overloading has resurfaced in some areas owing to electricity theft.
AmaranthCX director Paul Miller. Reserve Bank concern about decline of public markets welcome development – Miller Has Video
Published: 12 Jun 24
The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done has not been enough to change the downward trajectory.
Families of two engineers launch petition to free them from Equatorial Guinea
Published: 12 Jun 24
The families of two South African engineers, Peter Huxham (55) and Frik Potgieter (54), who have been unlawfully held as State hostages in Equatorial Guinea since February 9, 2023, have launched an online petition, as well as a website and social media campaign to demand their urgent release. Huxham and Potgieter have been caught in the political crossfire between South Africa and Equatorial Guinea. They were arrested two days after South Africa seized the luxury super yacht belonging to Equatorial Guinea VP Teodore Nguema Obiang Mangue. South Africa had also seized his two luxury Cape Town villas in Clifton and Bishops Court.
Kinetiko secures A$4.9m
Published: 12 Jun 24
ASX-listed Kinetiko Energy’s renounceable pro-rata entitlement offer to eligible shareholders, announced in May, closed on June 11 and raised about A$4.9-million (before costs), with strong support from major shareholders and directors. The company is developing an energy transition solution for South Africa, focused on commercialising advanced shallow conventional gas projects in the country’s Mpumalanga province.
Aura raises Tiris uranium resource by 55%
Published: 12 Jun 24
ASX-listed Aura Energy has increased the mineral resources of its Tiris uranium project, in Mauritania, by 55% to 91.3-million pounds of triuranium octoxide (U3O8), up from the previously reported 58.9-million pounds of U3O8. The mineral resources includes the Tiris East and Oum Ferkik project areas.
Artisanal gold miners Four central banks sign London Principles to formalise artisanal small-scale gold mining sector
Published: 12 Jun 24
The World Gold Council (WGC) has announced that four central banks have committed to signing ‘The London Principles’, which is a set of operating principles to help structure and formalise central bank artisanal and small-scale gold mining (ASGM) domestic purchase programmes (DPP). The inaugural signatories are Colombia’s Banco de la República, Banco Central del Ecuador, the Bank of Mongolia and Bangko Sentral ng Pilipinas. The commitment of these institutions represents progress towards more responsible gold sourcing practices worldwide, the WGC said on June 12.
Benchmarking study highlights slow pace of South Africa’s grid-connection system Benchmarking study highlights slow pace of South Africa’s grid-connection system
Published: 12 Jun 24
A new benchmarking assessment of South Africa’s electricity grid access queueing mechanisms indicates that Eskom’s systems are slower and less transparent than those being implemented in developed and developing countries analysed as part of the study. Published by the RES4Africa Foundation, the report includes case studies of the grid management frameworks being implemented in Brazil, Chile, Italy and by PJM Interconnection in the US.
Nodules being inspected TMC produces cobalt sulphate from seafloor polymetallic nodules
Published: 12 Jun 24
Nasdaq-listed critical minerals company TMC on Wednesday announced the successful production of cobalt sulphate derived exclusively from seafloor polymetallic nodules. The milestone was achieved during bench-scale testing of TMC’s hydrometallurgical flowsheet design in collaboration with SGS Canada at its Metallurgical Centre of Excellence in Lakefield, Ontario.
Image of Standard Bank Connect head Kartik Mistry Standard Bank, MTN collaborate for new MVNO
Published: 12 Jun 24
Standard Bank is collaborating with MTN for a new mobile virtual network operator (MVNO), Standard Bank Connect, running on MTN’s network. Formerly called Standard Bank Mobile, the new Standard Bank Connect MVNO will offer a new set of data and voice packages, as part of the bank’s telecommunication strategic direction.
Recovery in logistics sector continued in April despite ports being lashed by storms – Ctrack index Recovery in logistics sector continued in April despite ports being lashed by storms – Ctrack index
Published: 12 Jun 24
After declining in the first two months of the year, the Ctrack Transport and Freight Index (Ctrack TFI) continued its momentum in April to reach a level of 123.4 – an increase of 2.8% compared with March. This is also 1.5% above the levels seen a year ago.
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