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Jacqueline Foster-Mutungu Jacqueline Foster-Mutungu appointed MD, partner at BCG Johannesburg
Published: 04 Jun 24
Management consulting company Boston Consulting Group (BCG) has appointed Jacqueline Foster-Mutungu MD and partner in its Johannesburg office. The company says Foster-Mutungu, who has been with BCG for nearly a decade, will play a key role in the financial institutions and people and organisational practices.
A Maersk ship leaving the Suez canal Maersk sees deeper impact to world trade from Red Sea disruption
Published: 04 Jun 24
AP Moller-Maersk, a bellwether for global trade, said the world’s supply lines are more impacted than previously expected by the ripple effects coming from the congestion in the Red Sea. The Copenhagen-based container carrier raised its profit outlook late Monday as the disruptions effectively remove capacity from the global fleet and thereby boost freight rates.
National Treasury director-general Duncan Pieterse South Africa's fiscal stance to stay balanced under coalition, Treasury says
Published: 04 Jun 24
South Africa's National Treasury intends to stick to a balanced fiscal stance under a coalition government, its director-general said on Tuesday, after the African National Congress (ANC) lost its majority in last week's election. "I think that our fiscal strategy is achievable, even in a coalition environment ... because it's quite balanced," Duncan Pieterse told Reuters in an interview.
Energy Fuels eyes 5Mlb/y uranium run rate in coming years Energy Fuels eyes 5Mlb/y uranium run rate in coming years
Published: 04 Jun 24
Uranium and rare earths producer Energy Fuels is continuing to ramp up its uranium production in the US, with a targeted output of up to 500 000 lb of uranium oxide (U3O8) this year. The company operates the White Mesa mill, in Utah, where it has also demonstrated its ability to process monazite, providing mixed rare earth element (REE) carbonate to the market. 
172.06 ct Type II white diamond Gem recovers 172.06 ct diamond at Letšeng
Published: 04 Jun 24
London-listed diamond producer Gem Diamonds recovered a 172.06 ct Type II white diamond at its Letšeng mine, in Lesotho, on June 2. This is the seventh diamond greater than 100 ct recovered at the mine this year.
An SAA sign at an airport US imposes $2.5m in penalties on SAA, other airlines over delayed Covid refunds
Published: 04 Jun 24
The US Transportation Department (USDOT) said on Monday it has imposed $2.5-million in civil penalties in total against Lufthansa, Air France unit KLM Royal Dutch Airways and South African Airways (SAA). The civil penalties, the department said, are for significant delays in providing more than $900-million in refunds owed to passengers due to flights disrupted by the Covid-19 pandemic and after thousands of airline customers were forced to wait months. Of the $1.1-million penalties imposed on KLM and Lufthansa, each carrier was credited $550 000 for refunds for non-refundable tickets on US flights.
BHP CEO Mike Henry BHP faces a test of patience after $49bn Anglo bid falters
Published: 04 Jun 24
Days after BHP Group failed to secure the $49-billion takeover of smaller rival Anglo American, investors have one message for CEO Mike Henry — keep your cool. BHP argues it showed restraint in the battle for Anglo, a welcome attribute in a sector notorious for burning billions of dollars of on underwhelming projects and ill-timed acquisitions just over a decade ago. The question now is whether that discipline holds, even with all mining bosses gunning for more volume in copper, the single most coveted metal as the energy transition accelerates.
De Beers CEO Al Cook De Beers ditches man-made diamonds as it looks beyond Anglo
Published: 03 Jun 24
De Beers will ditch a controversial experiment to sell lab grown diamond jewellery, ending a six-year program that broke one of its oldest taboos. While the company long held the technology to make synthetic gems, it always refused to sell them as jewellery, fearing they would undercut the allure of natural stones. Yet as man-made stones gained traction and started competing directly with natural diamonds, De Beers launched its own jewellery brand in 2018.
Kincora secures new unexplored Macquarie Arc porphyry project
Published: 03 Jun 24
Dual-listed Kincora Copper has secured a new exploration licence covering 173 km2 in the Macquarie Arc, in central New South Wales. The Wongarbon project is considered to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc, said Kincora in a statement on Monday.
Richards Bay port TNPA appoints Amulet consortium to build, operate Richards Bay solar plant
Published: 03 Jun 24
Transnet National Ports Authority (TNPA) has selected Amulet Group Consortium to build and operate a 20 MW solar PV plant at the Port of Richards Bay. TNPA anticipates that the design and construction of the solar plant will start in June and that it will be operational by May 2026.
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