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Barloworld profit dips as slowdown in local mining industry takes its toll
Published: 27 May 24
Barloworld’s South African businesses continued to face a myriad of challenging trading conditions, says CEO Dominic Sewela. Announcing the group’s financial results for the six months ended March 31, Sewela said on Monday that Barloworld’s domestic operations had had to contend with a constrained local macroeconomic environment, inflationary cost pressures, as well as relatively higher borrowing costs affecting both businesses and households.
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Barloworld profit dips as slowdown in local mining industry takes its toll
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South African food inflation continued a downward trend in April
Published: 27 May 24
In April, for the second month in a row, year-on-year (y-o-y) South African food and non-alcoholic beverage (NAB) inflation (hereafter to be referred to as food inflation, for short) ran at a rate below that for consumer price index (CPI) headline inflation, the Bureau for Food and Agricultural Policy (BFAP) has reported. April was also the fifth consecutive month which recorded a decline in food inflation. The food inflation rate in April was 4.7%, while that for CPI headline inflation was 5.2%. Food inflation contributed 0.9 percentage points to CPI headline inflation in April. (Y-o-y food inflation in March had been 5.1%.) In month-on-month (m-o-m) terms, food inflation in April was 0.2%, whereas CPI headline inflation was 0.3%. Food inflation contributed zero percentage points to the m-o-m headline figure.
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South African food inflation continued a downward trend in April
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Panellists discuss graphite demand and rare earth supply chains at Junior Indaba
Published: 27 May 24
With growing demand for electric vehicles, yearly graphite supply needs to be about four times higher in 2030, and about nine times higher in 2040, than at present, owing to its use in energy transition-related products, such as lithium-ion batteries. During a presentation at the Junior Indaba last week, ASX-listed Walkabout Resources CEO Andrew Cunningham said natural graphite demand would exceed supply in 2025, noting that flake graphite production would require $7.57-billion in capital expenditure investment to meet battery demand in 2035.
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Panellists discuss graphite demand and rare earth supply chains at Junior Indaba
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Toubani strengthens its board as it advances Kobada DFS
Published: 27 May 24
ASX-listed Toubani Resources has announced several changes to its board of directors and study management team to drive the delivery of the definitive feasibility study (DFS) for the Kobada gold project, in southern Mali. Matt Wilcox will join the board of directors as a nonexecutive director effective immediately, while current nonexecutive director Scott Perry has been appointed nonexecutive chairperson.
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Toubani strengthens its board as it advances Kobada DFS
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bp, Shell agree to sell Sapref land, associated assets to the CEF
Published: 27 May 24
Following successful negotiations, bp Southern Africa and Shell Downstream South Africa (SDSA) have reached an agreement for the sale of their respective 50% ownership of assets located at the Sapref refinery precinct, in KwaZulu-Natal, to South African State-owned entity the Central Energy Fund (CEF). The sale includes SDSA and bpSA’s interests in the Sapref land and other associated assets, which includes tanks, process units, pipelines to and from Sapref to Island View terminal, and the Single Buoy Mooring for crude imports.
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bp, Shell agree to sell Sapref land, associated assets to the CEF
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Many Peaks starts major drill programme at Côte d’Ivoire project
Published: 27 May 24
ASX-listed Many Peaks Minerals has started a 6 500 m diamond and auger drilling campaign on the Odienné project, in Côte d’Ivoire.
One thousand metres of diamond drilling is planned for five holes on 400-m-spaced lines to follow up open gold mineralisation that was highlighted in a preliminary air core programme completed late last year.
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Many Peaks starts major drill programme at Côte d’Ivoire project
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Firefinch, Morila served with arbitration notice over payment dispute
Published: 27 May 24
ASX-listed Firefinch has received a notice of arbitration from mining services contractor Enterprise Générale Traoré et Frères (EGTF), in Mali.
EGTF also named Société des Mines de Morila (Morila) as a respondent in the arbitration notice.
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Firefinch, Morila served with arbitration notice over payment dispute
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ALPLA, Re-Purpose partner to strengthen plastics cycle in South Africa
Published: 27 May 24
Plastic packaging manufacturer and recycler the ALPLA Group and waste repurposing company Re-Purpose have announced a strategic partnership that is expected to advance sustainable packaging solutions and strengthen the feedstock value chain of ALPLA’s first polyethylene terephthalate (PET) recycling facility in Africa. ALPLA is investing €60-million in the construction of a recycling plant in Ballito, KwaZulu-Natal.
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Perseus gets back to drilling in Sudan as conflict eases
Published: 27 May 24
ASX- and TSX-listed Perseus Mining has restarted drilling work at its Meyas Sands gold project, in Sudan. This initial drill programme, which restarted on May 20, is aimed at testing high-priority exploration targets in the vicinity of the Galat Sufur South (GSS) deposit to follow up other drilling results that have been received to date.
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Five killed after informal gold mine collapses in northern Kenya
Published: 27 May 24
At least five people were killed and several others were missing after an informal gold mine collapsed in northern Kenya, officials and local media said. The bodies of five miners have been recovered from the Hillo artisanal mine, and another three people were unaccounted for, regional commissioner Paul Rotich told Reuters by telephone late on Friday.
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Published: 24 May 24
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Peripheral ring road, Peru
Published: 24 May 24
Uranium exploration company Madison Metals has reported that reverse circulation (RC) drill hole KM5RC003 at its Khan project, in Namibia, has...
Internal digital content serves as repository of truth for AI in companies – Hyland
Published: 27 May 24
The current focus for businesses is to automate the ingestion and use of content, and to use the advent of AI to analyse it and create business...
