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US-based Opic CEO visits S Africa, African countries to advance development
Published: 19 Jul 18
US Overseas Private Investment Corporation (Opic) president and CEO Ray Washburne this week visited South Africa and met with local banks to discuss investment opportunities in advancing development in the country and highlight Opic-supported projects. It is Washburne’s third stop on a six-country trip to promote US investment in Africa, strengthen partnerships and find opportunities to work with regional allies on projects that drive economic growth and stability throughout Africa.
Mandela centenary commemorated with banknotes and R5 coin Mandela centenary commemorated with banknotes and R5 coin Has Video
Published: 19 Jul 18
To commemorate late Statesman Nelson Mandela’s centenary, the South African Reserve Bank has launched commemorative banknotes and a R5 coin into circulation, depicting the most significant occasions in Mandela’s life. Marleny Arnoldi attended the launch.
Solidarity, NUM rejects gold producers wage offer
Published: 19 Jul 18
Solidarity has become the second workers union to reject the latest three-year wage offer tabled by South African gold producers even though it admitted that the mining companies have presented a gloomy picture of the industry. Solidarity joins the National Union of Mineworkers (NUM) which slammed the wage offer as as a "pittance" and "insulting" to workers.
First African company announces science-based greenhouse gas target
Published: 19 Jul 18
Emira Property Fund has become the first African and South African company to have a greenhouse gas emissions target approved by the Science Based Targets initiative (SBTi). The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature (WWF) which mobilises companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy.
Kibo’s Mbeya special mining licence submissions in final stages
Published: 19 Jul 18
Following the submission of Aim- and AltX-listed Kibo Mining’s local content plan (LCP) and integrity pledge (IP) to the Mining Commission – a constituent of the Tanzania Ministry of Mines – within the next two weeks, the authority will be ready to consider Kibo’s application for a special mining licence for the Mbeya coal-to-power project. An LCP requires that, when procuring goods and services, priority be given to Tanzanian firms, as well as that qualified Tanzanians should be considered first for employment and training opportunities.
M&R awarded R4bn of projects in Australasia
Published: 19 Jul 18
JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia, as well as the development of a copper mine, in Mongolia, which will be undertaken in joint venture between the oil and gas and underground mining platforms.
Light rail line in Nigeria's capital opens to passengers
Published: 19 Jul 18
Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development. Passengers were permitted this week to ride the first phase of the Abuja light railway system, which connects the international airport with other parts of the city.
Kumba lowers FY sales, production guidance
Published: 19 Jul 18
JSE-listed Kumba Iron Ore is working closely with State-owned freight utility Transnet to secure the delivery of the contractual capacity and to mitigate derailments that affected the company’s export sales in the second quarter of the year. The company’s export sales increased by only 1% to 9.6-million tonnes, compared with the 9.4-million tonnes sold in the second quarter of 2017. Export sales were adversely affected by derailments along the iron-ore export channel, including as a result of weather disruptions at the Saldanha Bay port and sub-optimal rail performance.
EU mulls coal, pharma, chemicals tariffs if US hits cars – Wiwo
Published: 19 Jul 18
The European Union (EU) will consider introducing tariffs on coal, pharmaceuticals and chemical products from the United States if President Donald Trump imposes restrictions on European cars, Germany's Wirtschaftswoche magazine reported on Thursday. "Depending on progress made during the visit of European Commission President Jean-Claude Juncker, the member states will decide on their future strategy at the end of next week," an unnamed EU diplomat was quoted as saying in the magazine.
Jubilee delivers solid Q2 results
Published: 19 Jul 18
AltX- and Aim-listed Jubilee Metals has achieved a 41% increase in operational earnings to £1.61-million for the second quarter of this year. The group, publishing its quarterly operations update, on Thursday, posted a 12% rise in project revenue to £4.37-million, a 25% hike in the Hernic project’s revenue to £3.31-million and a 31% increase in project earnings to £1.65-million during the quarter under review.
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