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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”.

Eloise mine, Australia

Published: 14 Jun 24

A copper/gold/silver mine in North Queensland, Australia.

Mining production rose by a modest 0.7% y/y in April

Published: 13 Jun 24

Mining production rose by a modest 0.7% in April, after declining by -4.8% year-on-year – revised from -5.8% year-on-year – in March, data published by Statistics South Africa (Stats SA) shows. Commenting on the statistics, Investec economist Lara Hodes says output was weaker than consensus expectations of a 1.1% year-on-year increase in production.

South Africa preparing to pilot independent transmission projects to bolster grid’s renewables capacity

Published: 13 Jun 24

The National Treasury has confirmed that South Africa is moving to pilot a model that will enable the private sector to participate directly in the development and operation of transmission grid infrastructure, drawing lessons from the country’s experience in procuring generation capacity from independent power producers (IPPs). Deputy director-general Mmakgoshi Lekhethe reports that the model, which has been mooted by Electricity Minister Kgosientsho Ramokgopa for some time, is receiving priority attention in light of the scale of the investment required to unlock grid capacity for new renewables investment,

An image showing Osino's Twin Hills gold project in Namibia

Sustainability reports highlights Osino’s investment in jobs, Namibia’s economy

Published: 13 Jun 24

TSX-listed Osino Resources’ Twin Hills gold project, located near Karibib in Namibia, is on track to create about 1 000 new jobs in the region, the company’s third annual sustainability report shows. The report summarises the company’s social, environmental and economic performance for the year 2023 and outlines plans for the ongoing integration of sustainability into the design of Twin Hills.

Ramaphosa key to dealing with ‘off-the-charts’ South Africa risk

Published: 13 Jun 24

President Cyril Ramaphosa is key to handling political risk that’s “off the charts” in the nation after a vote last month failed to hand any party a majority, Standard Bank’s chairperson said. The African National Congress (ANC), which has ruled the country since the end of apartheid in 1994, lost its parliamentary majority in May 29 elections, haemorrhaging support to former President Jacob Zuma’s new group. Political parties have less than a day to cobble together a power-sharing agreement before the nation’s parliament convenes Friday.

Copper 360 on home straight to produce quite a bit of cash, CEO reports

Published: 13 Jun 24

Copper mining and marketing company Copper 360 is on the home straight to produce quite a bit of cash by financial year end. That was the main takeaway from Mining Weekly’s post-results Zoom interview with the head of the only pure copper play listed on the Johannesburg Stock Exchange (JSE).