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Business Leadership South Africa CEO Busi Mavuso

Mavuso encouraged by restored business, govt relations following turbulent Zuma reign

Published: 29 Apr 24

Ahead of South Africa’s national elections on May 29, Business Leadership South Africa CEO Busi Mavuso says regardless of changes to government, the facts of what businesses need to thrive do not change. She expresses confidence, in her latest weekly newsletter, about the country realising its potential in the next 30 years, following a divided prior 30-year era of remarkable transformation and growth but also much regression economically and in terms of State institutions.

Image of MTN South Africa chief human resources officer Tebogo Maenetja

MTN SA launches Made4U career portal Skillsbox to empower job seekers

Published: 29 Apr 24

Telecommunications giant MTN South Africa has launched a new portal to assist unemployed South Africans on their job seeking journeys. The new Made4U career portal Skillsbox offers a comprehensive suite of resources on a user-friendly website and mobile platform designed to empower job seekers.

Transnet aims to defend its decision to partner with ICTSI at the DCT

Published: 29 Apr 24

State-owned Transnet has defended its decision to select Phillipines-based International Container Terminal Services Inc (ICTSI) as the preferred bidder for the establishment of a partnership to manage the upgrade and development of Pier 2 at the Durban Container Terminal (DCT). Following the selection of the preferred bidder, Transnet has entered into contract negotiations with ICTSI.

The Canadian Malartic operation in Quebec

Exploration efforts yield promising results for Agnico Eagle

Published: 29 Apr 24

Precious metals miner Agnico Eagle is reaping the rewards of its relentless exploration endeavours, with recent drilling campaigns yielding remarkable results across key gold projects in Canada. President and CEO Ammar Al-Joundi expressed excitement over the “pretty amazing results” obtained from exploration activists at Canadian Malartic, Detour and Hope Bay during a conference call on Friday.

Africa Aerospace and Defence organisers confident of a successful 2024 exhibition

Published: 29 Apr 24

More than half of the exhibition space for the 2024 iteration of the Africa Aerospace and Defence (AAD) trade exhibition and air show has now been booked, the organisers have announced. AAD 2024 will take place at Air Force Base Waterkloof, just south of Pretoria, from September 18 to September 22. The attendance of exhibitors from countries such as Belgium, China and the US has been confirmed. Among the major companies that will be attending will be Airbus, L3Harris Technologies, SAAB, and Turkish Aerospace Industries.

Southern Copper lifts output forecast amid tight metal market

Published: 29 Apr 24

Southern Copper raised its annual production guidance as ore quality improves and the company resolves water supply issues in Mexico, offering a little relief for a tightening global copper market. The world’s fifth-largest supplier of the wiring metal expects to produce 948 800 metric tons this year, CFO Raul Jacob told analysts on a conference call Friday. That would be 4.1% more than last year’s result and compares with a projection of 935 900 tons a quarter ago.

Glencore bought aluminium from Rusal worth $1.06bn in 2023

Published: 29 Apr 24

Commodities group Glencore bought aluminium from Russian producer Rusal worth $1.06-billion in 2023 as part of their long-term contract, the Russian producer said in an annual report on Friday. Although Rusal, the world's largest producer outside China accounting for 5.5% of global output, itself is not a target of Western sanctions, some Western clients have been shunning new deals for Russia-made metals since Moscow invaded Ukraine in 2022.

State-owned groups Eskom and Transnet have impaired mining productivity with unreliable power supply and a lack of trains to move mineral exports.

BHP’s South Africa snub an indictment of ANC, DA says

Published: 29 Apr 24

BHP Group’s bid to spin off Anglo America’s South African assets as part of a takeover proposal shows how the economic policies of the ruling African National Congress (ANC) have undermined investor confidence in the country, the main opposition party said. The offer by BHP envisages Anglo offloading majority stakes in Anglo American Platinum, the world’s largest miner of the metal by market value, and Kumba Iron Ore to shareholders. Anglo on Friday rejected the £31.1-billion proposal by BHP because it “significantly undervalues” the company.

Codelco posts fresh output slump, underscoring copper struggles

Published: 29 Apr 24

Top copper producer Codelco saw a decline in quarterly output due to lower quality ore at its aging Chilean mines — the latest sign of supply-side struggles that have helped send metal prices to two-year highs. The State-owned company’s wholly-owned mines produced 295 000 metric tons, down 9.6% from the first three months of last year, Codelco reported Friday.

'End of oil not in sight', OPEC secretary general says

Published: 29 Apr 24

The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting emissions not oil use. In an op-ed article in the Middle East Economic Survey (MEES) published on Friday, OPEC secretary general Haitham Al Ghais wrote there is "a worrying trend of narratives" that use terms like the end of oil, which have the potential to foster energy policies that stoke energy chaos.