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Transnet claims World Bank container port index contains ‘factual errors’

Published: 12 Jun 24

South Africa’s Transnet claims the World Bank’s 2023 Container Port Performance Index (CPPI) – in which South Africa’s ports rank dismally overall and the Port of Cape Town came in at the bottom of the 405 ports listed – contains “factual errors” that it had no opportunity to contest or correct. In a statement, Transnet reports it has already met with World Bank representatives to raise its concerns about both the data, derived from Automatic Identification System and liner shipping data, and the methodology employed to compile the index.

Western Australia resolves mining imbroglio threatening licences

Published: 12 Jun 24

Western Australia’s government has approved draft legislation that will ensure the security of mining licenses and permits in the state, a major producer of iron-ore. The legislation, to be passed retrospectively, will resolve a High Court of Australia ruling in 2017 that theoretically almost annulled nearly all the mining permits in Western Australia because companies may not have submitted all the relevant plans at the time of application.

CDE suggests new administration should shrink, streamline Cabinet

Published: 12 Jun 24

A significant reduction in the number of Cabinet Ministers and a fundamental overhaul of the Presidency are important steps towards fixing South Africa’s weak State, says policy research organisation Centre for Development and Enterprise (CDE) executive director Ann Bernstein. Smaller Cabinets tend to be more agile, more collegial and more accountable, she adds, noting that Cabinet processes would be greatly strengthened by a far more rigorous process of priority-setting, so that government focuses on doing fewer things well.

PPC to report higher full-year earnings as Zimbabwe operations improve

Published: 12 Jun 24

JSE-listed cement company PPC has informed shareholders that it expects to report increases in its earnings per share (EPS) and headline earnings per share (HEPS) of at least 20% year-on-year for the financial year ended March 31. The company on June 12 attributed the expected increases in EPS and HEPS to a strong performance by PPC Zimbabwe in the financial year under review, compared with a poorer performance in the 2023 financial year on the back of an extended kiln shutdown.

Mawson to acquire Southern Cross Gold in merger

Published: 12 Jun 24

Exploration and development company Mawson Gold has announced a nonbinding term sheet with Southern Cross Gold (SXG), outlining its intent to acquire all the ordinary shares of the Australian company that it does not own. Following the acquisition, which will be implemented through an Australian scheme of arrangement, Mawson will rebrand as Southern Cross Gold Ltd (New Southern Cross).

GMIN’s TZ mine on the brink of gold production

Published: 12 Jun 24

TSX-listed G Mining Ventures (GMIN) has announced progress in the commissioning of its Tocantinzinho (TZ) gold project, in Brazil. With the project engineered to produce about 175 000 oz/y of gold over a 10.5-year mine life, the company says it is on schedule and within budget to begin commercial production in the second half of 2024.

Telkom expects improved FY24 results

Published: 12 Jun 24

JSE-listed Telkom on Wednesday said it expects a triple-digit increase in its basic earnings per share (BEPS) and headline earnings per share (HEPS) for the year ended March 31, 2024. This is attributed to a stronger operational performance driven by continued demand for next-generation technologies, the revenues of which increased 7% to comprise almost 80% of total group revenue, along with cost-optimisation initiatives.

Resources Watch

Published: 12 Jun 24

This week: Richards Bay Minerals signs agreement for additional 140 MW of renewable energy; Platinum group metal poised to help protect world from growing water pollution threat and, Diamond transparency from mine to finger is on way from Petra

Daimler Truck Southern Africa launches electric heavy-duty trucks

Published: 12 Jun 24

Original-equipment manufacturer Daimler Truck Southern Africa (DTSA) has launched a line of electric heavy-duty trucks, the e-Actros range, as part of its Power Up electric mobility offering.

BHP set to avert mine strike in Chile with preliminary wage deal

Published: 12 Jun 24

BHP reached a preliminary wage agreement with union leaders in Chile, signaling the company will avert a costly strike at a copper mine that accounts for about 1% of global supply of the wiring metal. More than 1 100 members of the main union at BHP’s Spence mine in northern Chile will vote on the new offer, the Melbourne-based company said in a statement early Wednesday. The breakthrough came on the fifth and final day of talks mediated by labor department officials, with both sides agreeing to a an extension in order to hold the vote.