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Image of the blackwater treatment plant at the V&A Already green V&A Waterfront eyes starting up desalination plant; building second seawater cooling plant
Published: 06 Jun 24
Since starting its sustainability journey in 2008, the V&A Waterfront (V&A) in Cape Town has reduced its energy use by 40%, with 2 MW of photovoltaic (PV) solar panels generating 1 640 000 kWh of clean energy a year. The precinct has also diverted 62% of its waste from landfills. This includes more than 2 300 t of organic waste and 2 100 t of recycling every year.
Eskom CEO Dan Marokane Marokane says R285m spent on diesel in May compared with R2.8bn in May 2023
Published: 06 Jun 24
Eskom CEO Dan Marokane has rebuffed persistent suggestions that the utility is keeping loadshedding at bay owing to an “excessive” reliance on the diesel-fuelled open cycle gas turbines, reporting that it spent R285-million on diesel during May compared with R2.8-billion in the same month last year and against a budget for the month of R1.7-billion. Addressing the South African National Energy Association AGM against a backdrop of deep suspicion about how Eskom has managed to avoid resorting to rotational power cuts for 71 days, including over a highly competitive election period, Marokane attributed the stabilisation to the Generation Recovery Plan, which had been under way since March 2023.
Firetail’s stock catches alight with Canada copper acquisition Firetail’s stock catches alight with Canada copper acquisition
Published: 06 Jun 24
The share price of Australia-listed Firetail Resources skyrocketed 150% on Thursday, as the company unveiled a copper acquisition in Newfoundland, Canada. Firetail announced it had executed an option agreement for the acquisition of up to 80% of the York Harbour project through a staged earn-in.
South Africa’s telecoms companies face significant consumer sentiment challenges
Published: 06 Jun 24
The latest South African Telecommunications Sentiment Index, undertaken by PwC South Africa in collaboration with DataEQ, has revealed that the local telecommunications industry continues to face significant challenges related to consumer sentiment. An assessment of 1.62-million public mentions about Cell C, MTN, rain, Telkom and Vodacom from January 1 to December 31, 2023, found that, with a negative Net Sentiment score of -18.8%, local consumer sentiment toward telecommunications service providers lag other industries such as banking, insurance and retail.
TFR welcomes prison sentences for convicted cable thieves
Published: 06 Jun 24
State-owned Transnet Freight Rail (TFR) has welcomed the recent arrest and conviction of four men for theft of essential infrastructure on its rail network. The Thabazimbi Regional Court on May 31 sentenced the four men to 49 years each for various charges related to the theft of essential infrastructure from the railway line between Northam and Dwaalboom, in Limpopo.
Absa, IFC unveil innovative climate-smart housing rebate
Published: 06 Jun 24
Financial services provider Absa, in collaboration with the International Finance Corporation (IFC), has launched a new initiative within the South African residential market aimed at promoting sustainable green living.  This three-year initiative, which takes the form of a rebate to customers, is expected to support prospective homeowners with the purchase of green-certified homes through the UK-IFC Market Accelerator for Green Construction (MAGC) programme. 
West Red Lake aims for Madsen restart in H2 2025 West Red Lake aims for Madsen restart in H2 2025
Published: 06 Jun 24
TSX-V-listed West Red Lake is gearing up for a big year in 2025. After bolstering its financings through recent fundraisings, the company is setting its sights on restarting the Madsen gold mine, in Ontario, in the second half of next year. The company is currently working on a prefeasibility study (PFS) that will outline its the Madsen restart plan, with an expected release in early 2025.
NOA Trading CEO Andrew Taylor NOA helps Tronox decarbonise its South African operations with 25-yr energy supply agreement
Published: 06 Jun 24
Local integrated energy company NOA Group Holdings has entered into a 25-year energy supply agreement with NYSE-listed titanium dioxide pigment manufacturer Tronox Holdings for its South African operating sites. Under the terms of the agreement, NOA will supply Tronox’s operations in KwaZulu-Natal and the Western Cape with 497 GWh of renewable energy.
SolGold inks exploitation contract for Ecuador copper and gold mine SolGold inks exploitation contract for Ecuador copper and gold mine
Published: 06 Jun 24
Dual-listed SolGold has signed an exploitation contract for its flagship Cascabel copper and gold project, in Ecuador. The signing follows successful contractual negotiations and approval of the term sheet by the Ecuador government in July last year.
Copper’s spike isn’t justified by fundamentals, Trafigura says Copper’s spike isn’t justified by fundamentals, Trafigura says
Published: 06 Jun 24
Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura Group — the top copper trader and usually one of the market’s most bullish voices. “Prices of non-ferrous metals have moved much higher than fundamentals in the physical spot market might indicate or justify, especially for copper,” Trafigura chief economist Saad Rahim wrote in a commentary accompanying the trader’s first half results on Thursday.
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