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NUM shocked at decision to place Ubank under curatorship
Published: 17 May 22
Trade union the National Union of Mineworkers (NUM) says it is “shocked and surprised” by Reserve Bank governor Lesetja Kganyago’s decision to place Ubank under curatorship. The union says this happened despite the Ubank’s board having committed on the night of May 16 that it would raise the required R800-million to save the bank from being placed under curatorship.
My Smart City adds leisure, services and insights functions
Published: 17 May 22
Citizen public service platform My Smart City has launched the In the City feature, which provides local leisure offerings, performance insights and value-added services for city residents to connect to a city and to boost citizen activity, positively affecting the economy, says software development company Acumen Software CEO Joao Zoio. The In the City feature follows the introduction of a social feed to the platform, which shares information like load-shedding schedules and alerts from other community members.
Forum established to support informal economy
Published: 17 May 22
The Informal Economy Development Forum (IEDF) is a new body that has been set up to drive growth within the sector, support informal economy workers and function as the conduit between government, corporate South Africa and the informal economy. The IEDF’s key objectives are to improve the business, labour and regulatory environment in which informal businesses operate, ensuring equitable access to skills development and training, finance and the removal and simplification of regulatory requirements that prohibit growth to benefit South Africa’s 5.2-million informal workers.
Business personalities Quinton van der Burgh and Lucky Kgatle Business personalities Kgatle, Van der Burgh form new mining JV
Published: 17 May 22
Business personalities Lucky Kgatle and Quinton van der Burgh have jointly incorporated a new joint venture (JV) named Tlou Commodities, which is aimed at engaging and growing the local mining sector. The JV will pursue the establishment of a successful and sustainable coal and metal conglomerate with roots in responsible environmental practices and the advancement of the previously disadvantaged.
Excellon scouting for Mexico acquisitions as Platosa winds down
Published: 17 May 22
Precious metals producer Excellon is actively pursuing acquisition opportunities in Mexico, as it heads towards the wind-down of its Platosa operations. On the Toronto- and New York-listed company’s wish list is acquisition opportunities for producing and development-stage assets, CEO Brendan Cahill said on Monday. Excellon said that although drilling at Platosa continued during much of the first quarter, given recent drilling results and consideration of current and expected economic factors, the company expected to wind down operations during the third quarter.
Galileo reports positive exploration progress at its Luansobe copper project
Published: 17 May 22
Aim-listed Galileo Resources has announced positive exploration progress at its Luansobe copper project, in Zambia. The project is situated on the Zambian copper belt, where Galileo holds a 75% interest in a small-scale exploration licence. So far, portable X-ray fluorescence (pXRF) spectroscopy testing of the historic drill core, which was subject to full assay checking, has provisionally identified an upper mineralised zone of moderate copper grade, with some higher-grade intervals, in several holes extending up to 36 m in thickness.
Matthew Glowasky steps down from Petra board
Published: 17 May 22
Matthew Glowasky has resigned as nonexecutive director of Petra Diamonds, with immediate effect. Glowasky was appointed as a non-independent, nonexecutive director of the company on March 10, pursuant to a nomination agreement between the company and Monarch Master Funding 2 and following the successful completion of the recapitalisation of Petra. 
MIC Khulisani Ventures concludes first allocation with tech companies
Published: 17 May 22
The Mineworkers Investment Company’s (MIC’s) Khulisani Ventures has concluded its first allocation of R43.5-million to technology companies Kelo and Rentoza. In July 2021, MIC launched MIC Khulisani Ventures, a R150-million early-stage investment vehicle targeting black-owned innovative, high-growth businesses in South Africa.
IFC partners with Rameda to ‘green’ its pharmaceutical business in Egypt
Published: 17 May 22
The International Finance Corporation (IFC) is partnering with Egypt-based pharmaceutical producer Rameda, to support the company’s strategy to “green” its operations and improve its production efficiencies to boost the company’s productivity. Through the partnership, the IFC will help Rameda – which produces a range of pharmaceuticals, supplements and other products at its three facilities in Cairo – adopt solutions that reduce its carbon and water footprints and improve efficiencies in materials and resource consumption.
Laneway given approval for Georgetown plans
Published: 17 May 22
ASX-listed Laneway Resources has been granted environmental clearance to start processing Agate Creek ore at its Georgetown processing plant, in North Queensland. Laneway earlier this year acquired the Georgetown gold processing plant, along with an extensive portfolio of mining and exploration tenements, from Masterson Minerals. The company subsequently started refurbishment activities at the project.
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