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Copper miner Austral placed in receivership
Published: 03 May 24
Copper miner Austral Resources has been placed in receivership. Creditor Wingate has appointed Jason Tracy, Grant Sparks and Sean Holmes as joint and several receivers and managers.
“The business will continue to trade while the receivers and managers undertake an assessment of the financial position and determine the future of the business and its assets,” Deloitte said in a statement.
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US power-plant rules threaten grid reliability, Peabody CEO says
Published: 03 May 24
Peabody Energy, the biggest US coal producer, is warning that federal regulations to curb emissions from power plants pose a threat to the grid at a time when electricity demand is poised to surge.
The Environmental Protection Agency announced regulations last month that will force coal-fired power plants to capture nearly all of their carbon dioxide emissions — or close — by 2039. The policies are a critical part of President Joe Biden’s efforts to fight climate change, but they come just as the boom for artificial intelligence and data centers is set to send power demand higher.
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Canadian Natural Resources considering major expansion of Horizon oil sands mine
Published: 03 May 24
Canada's largest oil and gas producer Canadian Natural Resources is looking at opportunities to significantly increase bitumen output at its main oil sands mine, the company said on Thursday.
President Scott Stauth said the company is considering a 195 000 barrel-per-day (bpd) expansion at its Horizon mining and upgrading plant in northern Alberta through new extraction and treatment processes. Previously the company said it could add 75 000 bpd of bitumen, but Stauth said Canadian Natural had been able to enhance engineering and scale up the processes.
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Canadian miner Hudbay sees BHP's bid for Anglo boosting copper assets
Published: 03 May 24
he CEO of Canadian miner Hudbay Minerals said BHP Group's $39-billion offer for Anglo American has increased the valuation of copper assets and could underscore companies' willingness to pay a premium to buy existing copper mines.
Hudbay expects to launch a formal sale process for a minority stake in its Arizona Copper World project in the United States later this year after already holding talks with companies.
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Glencore studying an approach for Anglo American, sources say
Published: 03 May 24
Commodities group Glencore is studying an approach for Anglo American, two sources said, a development that could spark a bidding war for the 107-year old mining company.
Glencore has not yet approached Anglo, one of the sources said. The discussions are internal and preliminary at this stage and may not result in an approach, the source added.
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New Class 4, 5 vehicles optimised for net-zero emissions
Published: 03 May 24
Commercial electric truck brand RIZON, the newest brand of all-electric trucks manufactured by Daimler Truck, announced the Canadian launch of its Class 4 and 5 vehicles. The RIZON brand was presented in Canada for the first time at Truck World in Toronto, which took place from April 18 to 20 – and will be available to Canadian customers for the first time with pre-orders set to begin in June 2024.
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Braking company developing Africa presence
Published: 03 May 24
According to a report by the African Development Bank in the ‘Macroeconomic Performance and Outlook of Africa’ publication, 11 African countries featured in the world’s 20 fastest growing economies in 2023, which is why braking systems manufacturer and supplier of safety-critical subsystems for rail and commercial vehicles Knorr-Bremse sees significant growth potential on the continent. Considering the increasing likelihood of opportunities, the German company has plans to expand further into Africa.
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Biofibre project to enhance competitiveness
Published: 03 May 24
Government economic programme Coega Development Corporation, in partnership with scientific and technology research organisation Council for Scientific and Industrial Research (CSIR) have embarked on an initiative known as the Biofibre Hub Project. Positioned within the expansive 9 003 ha Coega Special Economic Zone (SEZ), in South Africa’s Eastern Cape, this project seeks to harness the potential of plant-based fibres, particularly bast and leaf fibres, to innovate in the automotive sector and beyond.
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Access to farming equipment boosts mechanisation
Published: 03 May 24
Agricultural technology company Hello Tractor, celebrating its tenth anniversary this year, aims to improve small-scale farming practices through its app Hello Tractor, which facilitates increased access to farming equipment. With a core focus on improving African agriculture through mechanisation, Hello Tractor aims to make its services more farmer-friendly, deepen its impact and expand its reach, says Hello Tractor founder and CEO Jehiel Oliver.
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Data, drones can improve local agriculture
Published: 03 May 24
Smart technology, powered by artificial intelligence (AI) and unmanned vehicles, can counter various challenges in the agricultural sector, boosting productivity, reducing costs and assisting in preserving precious resources, says drone technology company DJI product manager Ruan Botha. Innovative solutions are required for long-term sustainability and growth amid the host of challenges impacting the agriculture industry, he asserts.
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