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Paratus, Starlink see success in Mozambique

Published: 05 Jun 24

The integration of Starlink’s service offering in Mozambique has been highly successful, particularly for businesses in need of dependable Internet connectivity in remote areas, Paratus Mozambique said in a statement on Wednesday. Paratus Mozambique embraced the addition of Starlink to its suite of solutions, and has received an unprecedented response from customers wanting reliable connectivity, following the appointment last year of Paratus Group as an authorised reseller of Starlink business services in numerous African countries.

New SA Canegrowers chair calls on govt to fulfil its promise of a sugar tax review

Published: 05 Jun 24

With major sugar mills remaining in business rescue and a possible increase in the Health Promotion Levy (HPL), or sugar tax, still looming, the sustainability of the sugar industry remains under threat, industry body SA Canegrowers has said. It noted that the sugar tax has suppressed the market for locally produced sugar and cost the industry more than 16 000 jobs since its implementation in 2018.

BHP turns to mediation as Chile miners seek share of copper boom

Published: 05 Jun 24

BHP Group is heading into mediation with union leaders in Chile in a bid to avoid a strike as this year’s surge in copper prices inflates the bottom lines of producers and expectations of their employees. The Spence mine operated by the Melbourne-based mining giant requested a five-day mediation under Chilean labor rules after management failed to reach an agreement with the union in regular negotiations.

South Africa business activity grows again in May, PMI shows

Published: 05 Jun 24

South African private sector activity grew in May as new order volumes stabilised and business confidence improved, a survey showed on Wednesday. The S&P Global South Africa Purchasing Managers' Index (PMI) rose slightly to 50.4 in May from 50.3 in April. A reading above 50 denotes growth.

First shipment of Kanmantoo copper sets sail

Published: 05 Jun 24

Australia’s newest copper producer Hillgrove has completed loading its first shipment containing 10 099 wet metric tonnes of concentrate from the Kanmantoo underground mine. The company achieved its first shipment in less than 12 months since operations at the South Australian mine started.

Gold purchases by central banks were strong in April despite high prices, WGC says

Published: 05 Jun 24

Net purchases of gold by global central banks rose to 33 metric tons in April from a revised net buying of 3 tons in March, the World Gold Council (WGC) said, signalling continuing strong appetite from the sector despite high prices for the metal. Safe-haven demand, driven by geopolitical and economic uncertainty, as well as persistent central bank buying contributed to a rally in gold in March-May. The spot price hit a record high of $2 449.89/oz on May 20.

Carbon removal needs to quadruple to meet climate goals, researchers say

Published: 05 Jun 24

Governments need to plant more trees and deploy technologies that will quadruple the amount of carbon dioxide removed each year from the atmosphere in order to meet global climate goals, a team of researchers said in a report published on Wednesday. Carbon dioxide removal (CDR) refers to a range of interventions that sequester CO2 already in the air. It includes conventional methods such as reforestation as well as potentially large-scale solutions like biofuels, cultivating algae in oceans and the use of filters that capture atmospheric CO2 directly.

Foremost to spin out past-producing New Mexico mines

Published: 05 Jun 24

The Winston Group of Properties, located in New Mexico, is set for a listing of its own, with Nasdaq- and CSE-listed Foremost Lithium announcing its intention to spin out the gold and silver assets into a new subsidiary. The new unit, to be named Rio Grande Resources (RGR), will own the Winston Group of Properties, which contains three historic past producing gold and silver mines: Ivanhoe, Emporia and Little Granite in Sierra county.

Independence is located entirely within Nevada Gold Mines' Phoenix mine permitted plan of operations.

Nexus Uranium to separately list its Nevada gold project

Published: 05 Jun 24

North America-focused Nexus Uranium has announced that it will spin off and separately list its Independence gold mine, in the Battle Mountain district of Nevada, on a Canadian exchange. The creation of a new entity holding the project, which is located adjacent to Nevada Gold Mines’ Phoenix-Fortitude mine, will enable the asset to advance independently with new funding, said Nexus CEO Jeremy Poirier.

Glencore to toll treat Crean Hill bulk sample – Magna

Published: 05 Jun 24

Exploration and development company Magna Mining has signed a toll milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall (FW) zone at its Crean Hill project, in Sudbury, Ontario. This development, CEO Jason Jessup says, is the next step of advancing the Crean Hill project – a past-producing nickel, copper and platinum group metals (PGM) mine.