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Glencore acts to profit from LME post-sanction rule change Glencore acts to profit from LME post-sanction rule change
Published: 17 Apr 24
Mining and trading house Glencore aims to take thousands of metric tons of Russian aluminium from the London Metal Exchange (LME) and return it at a later date to profit from rule changes, three sources familiar with the matter said. The LME has banned from its system Russian aluminium, copper and nickel produced from April 13 to comply with new US and UK sanctions imposed over Russia's invasion of Ukraine.
NRF to participate in significant African-European scientific collaboration forum
Published: 17 Apr 24
The National Research Foundation (NRF) will participate in the fourth AERAP Africa-Europe Science Collaboration Forum, which will be hosted by the South African Embassy in Brussels, Belgium, next week. AERAP is an acronym for Africa-Europe Science Collaboration and Innovation Platform and the NRF is South Africa’s agency for the support and promotion of research, by means of funding, the provision of research facilities and human resource development. “As South Africa’s premier science council, ...
A copper smelter in Zambia Zambia copper mines hit by State utility’s warning of power cuts
Published: 17 Apr 24
Zambia’s State power utility has served notices of force majeure on supply of electricity to some mines, according to an industry association, threatening additional pressure on a copper market going through an unprecedented squeeze. The Chamber of Mines in Africa’s second largest copper producer said Wednesday that power utility ZESCO Ltd has notified several of the organization’s members that it can’t fully meet its supply commitments. The statement didn’t say which projects are impacted.
Image of a VW Polo VW Africa laments power outages in ECape; Patel says Electricity Minister is tackling the problem
Published: 17 Apr 24
Volkswagen Group Africa (VWA) last week suffered four power outages at its Kariega plant, says VWA MD and chairperson Martina Biene. This happened while there was no loadshedding scheduled for the Eastern Cape.
West African reports high-grade gold mineralisation at Burkina Faso deposit
Published: 17 Apr 24
ASX-listed unhedged gold mining company West African Resources has reported high-grade gold mineralisation from recent infill underground diamond drilling within the main lode at the M1 South (M1S) at its Sanbrado gold operations, in Burkina Faso. Results from infill diamond drilling at M1S include ­24 m at 55.79 g/t gold; 28.5 m at 37.03 g/t gold; 28 m at 28.52 g/t gold; 22.5 m at 32.98 g/t gold; and 25 m at 29.44 g/t gold.
Drought in corn field African Risk Capacity to pay out insurance to drought-affected Southern African farmers
Published: 17 Apr 24
Farmers in Mozambique and Zambia are being impacted by one of the worst droughts in decades, United Nations (UN) assistant secretary-general Reena Ghelani has said as she met with stakeholders to organise food and cash assistance in countries affected by the drastic El Niño-induced weather. She explained the Southern Africa region was experiencing extreme food insecurity and water shortages amid a growing climate crisis fuelled by the El Niño phenomenon.
Janse van Rensburg to succeed retiring Arbee as Motus CEO in November
Published: 17 Apr 24
Osman Arbee will be retiring as CEO of automotive group Motus, with effect from October 31, and will be succeeded by the group’s CFO Ockert Janse van Rensburg, with effect from November 1. Having joined Imperial Holdings in September 2004, Arbee’s career with the group has spanned 20 years. He was appointed as CEO of Motus in March 2017, prior to the company's unbundling from Imperial and its listing on the JSE in November 2018.
Uranium in hand Lotus advances process optimisation work ahead of Letlhakane mine development
Published: 17 Apr 24
ASX-listed Lotus Resources has developed a detailed initial programme of work to maximise the potential of its Letlhakane uranium project, in Botswana. The company is working to update the project’s mineral resource model and is undertaking studies to determine the potential of upgrading the ore for a more efficient processing route.
Marula progressing activities at Kenyan mine
Published: 17 Apr 24
AQSE-listed Marula Mining is progressing mining and processing activities at the Larisoro manganese mine, located in Samburu County, in northern Kenya. As announced last month, the company has entered into an agreement with Kenyan manganese mine operator Gems and Industrial Minerals (GIM) to secure a commercial interest in the mine.
PetroSA's Mossel Bay plant PetroSA targets Mozambique gas in new sales deal
Published: 17 Apr 24
PetroSA expects the first flows of gas into the country from a deal with Mozambique's national energy company ENH later this year, officials said, amid efforts to shore up supplies ahead of a potentially crippling shortage. Handed a gas trading licence by regulators in March, state-owned oil and gas company PetroSA has moved quickly to secure a deal for an initial 2 petajoules of gas a year (PJ/a), with scope to rise to 200 petajoules eventually.
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