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Vale expects tentative dam collapse settlement with Brazil authorities this month

Published: 14 Jun 24

Brazilian miner Vale expects to reach a tentative agreement by the end of this month with Brazilian federal and state authorities to settle reparations over the deadly 2015 collapse of a tailings dam, an executive said on Thursday. The Mariana dam collapse caused a wave of toxic tailings that killed 19 people. It left hundreds homeless, flooded forests and polluted the entire length of the Doce River.

enCore and JV partner Boss launch uranium production at Alta Mesa

Published: 14 Jun 24

Nasdaq- and TSX-V-listed enCore Energy has announced the successful startup of production at the Alta Mesa uranium central processing plant (CPP) and wellfield, in south Texas. With the restart of the previously producing Alta Mesa project, enCore was the only uranium producer in the US with multiple operational production facilities, it said in a statement on Thursday.

China steel demand plateaus at a decent level, Vale’s boss says

Published: 14 Jun 24

Chinese steel demand “has definitely plateaued” due to property woes, though the Asian nation’s appetite for the material is still at a “decent level,” said the head of the world’s second-largest iron-ore producer. Vale SA CEO Eduardo Bartolomeo said Thursday during an investment conference that he sees steel demand stalled for a while because China relies on real estate, though he’s expecting a move away from that industry.

An image of Erudite electrical engineer Dr Mpho Sam Nkambule.

Engineer calls for urgent investment in youth

Published: 14 Jun 24

Youth unemployment is a pressing issue in South Africa, with Statistics South Africa reporting that, in the first quarter of 2024, of the 10.3-million young people aged 15 to 24, a staggering 35.5% were not in education, employment, or training. This highlights the urgency for companies to invest in youth development, notes prominent engineering, procurement and construction management (EPCM) company Erudite electrical engineer Dr Mpho Sam Nkambule. He emphasises that youth unemployment in South Africa is a complex issue with several contributing factors. One significant barrier is the financial cost of job-seeking. Nkambule cites the Siyakha Youth Assets for Employability Study by the Centre for Social Development in Africa at the University of Johannesburg, which reveals that young South Africans spend an average of R938 each month on job search expenses.

Barloworld profit dips as local mining industry slows

Published: 14 Jun 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 at the end of May that Barloworld’s domestic operations had had to contend with a constrained local macroeconomic environment and inflationary cost pressures, as well as relatively higher borrowing costs affecting both businesses and households.

Poor roads, bad weather and weak used-car market dent Zeda’s profit

Published: 14 Jun 24

Poor road conditions, hailstorms, a shortage of car parts and a deteriorating used-car market converged to dent Zeda’s operating profit for the six months ended March 31. The integrated mobility solutions provider, active in the leasing, car rental and fleet management sectors, at the end of May reported a 19% jump in revenue, to R5.3-billion.

An image of BMW Group executives, including BMW Group CEO Peter van Binsbergen, at the BMW Group Plant Rosslyn Training Academy onboarding event

Youth empowered through manufacturer’s YES commitment

Published: 14 Jun 24

Automotive manufacturer BMW Group South Africa onboarded its 2024 cohort at BMW Group Plant Rosslyn Training Academy on May 7, marking its ongoing commitment to the Youth Employment Service (YES) Programme, an initiative aimed at addressing youth unemployment. During the event, BMW Group South Africa CEO Peter van Binsbergen expressed his pride in the YES Programme students, as they showed that young people “hold the key to great innovation”.