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A photo of solar photovoltaic panels Utilities that can provide services will thrive in a disrupted energy sector
Published: 11 Aug 22
Municipal utilities and distributors will have to "provide more than one product" and will have to develop new services and business models to effectively serve the market, such as by reselling and wheeling power between producers and consumers. These are some of the views presented during the first in a series of webinars jointly hosted by municipal organisation the Association of Municipal Electricity Utilities (AMEU) and industry organisation the South African Institute of Electrical Engineers (SAIEE) on August 10 to prepare South Africa's energy utilities for the changes and disruptions, experienced worldwide, in the energy industry.
Australian resources key to decarbonising - Minister
Published: 11 Aug 22
The Australian resources sector, including its coal and gas sectors, had a significant role to play in the nation’s decarbonising efforts, federal Resources Minister Madeleine King said. Speaking at the Queensland Resources Media Club, in Brisbane, King said that traditional resources would help underpin Australia’s transition to a net zero economy.
Royal Bafokeng, Amplats agree to extend concentrate purchase agreement
Published: 11 Aug 22
Rustenburg Platinum Mines (RPM) – a wholly-owned subsidiary of Anglo American Platinum (Amplats), has agreed to extend its disposal of concentrate agreement (Doca) with Royal Bafokeng Resources (RBR) – a wholly-owned subsidiary of Royal Bafokeng Platinum (RBPlat), to February 10, 2023. This comes as RBPlat is currently the subject of a mandatory offer by Impala Platinum and makes provision for either 17% or 50% of Amplats’ bought concentrate.
The Fynbos building in Cape Town Construction of Africa’s first biophilic building under way in Cape Town
Published: 11 Aug 22
Estate agent Dogon Group has confirmed that demolition is under way ahead of the start of construction of Africa’s first-ever biophilic development, in Cape Town. The Fynbos building, as it will be called, will comprise 24 storeys of mixed-use space, including Cape Town’s first-ever urban street art gallery and an exterior draped in a 1 200m2 vertical garden made up of 30 species of indigenous trees and 20 species of shrub.
Ironveld starts refurbishment work at Rustenburg smelter
Published: 11 Aug 22
Aim-listed iron, vanadium and titanium project developer Ironveld and its team of specialist contractors has started work at the mothballed Ferrochrome Furnaces (FCF) smelter site, in Rustenburg, in South Africa’s North West province. This follows the successful completion of a £4.5-million fundraise to acquire the remaining stake in the FCF business that Ironveld does not already own, as well as to refurbish the FCF smelting complex.
Caledonia achieves strong second quarter, half-year performance
Published: 11 Aug 22
Gold miner Caledonia Mining achieved a “terrific” quarter and six months ended June 30, with second quarter production of just over 20 000 oz, which set a record for any quarter, CEO Mark Learmonth acclaims in an operating and financial results update. Caledonia produced 20 091 oz of gold in the quarter, 20% higher than the 16 710  oz produced in second quarter of 2021.
An image of the Öksüt mine in Turkey Centerra Gold shares fall on Öksüt woes, production outlook slashed
Published: 11 Aug 22
Toronto-listed Centerra Gold’s share price tumbled nearly 22% on Wednesday, as the company lowered its 2022 production outlook following the suspension of certain operations at the Öksüt mine, in Turkey. Gold room operations at ADR plant at Öksüt have been suspended since early March, owing to mercury detection. The company suspended stacking and leaching this month and is now considering suspending mining and crushing too.
Akobo Minerals signs mandate letter with international debt arranger
Published: 11 Aug 22
Scandinavian-based Ethiopian gold exploration and boutique mining company Akobo Minerals has signed a mandate letter with an international debt arranger for a contemplated loan of up to $8-million. The contemplated loan is expected to provide Akobo with sufficient funding to complete its mining development at its Segele project and start production in the first quarter of 2023.
Employing females could help address labour shortage - King
Published: 11 Aug 22
Federal Resources Minister Madeleine King has urged the resources industry to do more to encourage female employment in the sector, hosting a roundtable on jobs and skills in the sector. King heard from industry about what they are doing to invest in, develop and attract skilled workers so the industry can sustain its crucial role supporting the Australian economy, and used the roundtable in Brisbane to outline some of the workforce challenges facing the sector, and to hear how the government can support the industry to tackle the issues.
New Colombian govt must exercise caution on reforms - business leader
Published: 11 Aug 22
The head of Colombia's leading business association said on Wednesday that new leftist President Gustavo Petro must be careful to ensure potential tax and labor reforms do not have an undesired impact on the economy. The Petro administration, which took office on Sunday, has proposed a tax reform bill to Congress that would raise some 25-trillion pesos ($5.8-billion) in 2023 in an effort to increase revenue for anti-poverty programs.
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