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LHWP tunnel closure won’t have significant impact on water supplies, assures DWS

Published: 26 Apr 24

The upcoming six-month closure of the Lesotho Highlands tunnel, from October 1, 2024, to March 31, 2025, for scheduled maintenance is not expected to have a significant impact or disruption on Gauteng’s water supply. The shutdown will result in an 80-million-cubic-metre shortfall during 2024 in the water supply from the critical Lesotho Highlands Water Project (LHWP) to the Integrated Vaal River System (IVRS).

China loses its appetite for Russian coal as import costs rise

Published: 26 Apr 24

China is losing its appetite for Russian coal as import taxes and logistical snarls push Asia’s biggest buyer to cheaper alternatives. Russian exports plunged 22% in the first quarter after Beijing imposed a tax regime at the start of the year that favors some of Russia’s rivals.

China's Q1 gold consumption climbs nearly 6% on safe-haven demand

Published: 26 Apr 24

hina's gold consumption in the first quarter of 2024 climbed by 5.94% from a year earlier on soaring safe-haven demand, the country's Gold Association said on Friday. Bullion consumption in the world's largest consumer totalled 308.905 metric tons in the first three months of the year.

View of the Cape Flats Managed Aquifer Recharge Programme

Cape Town budgets R5.3bn for water and sanitation capital projects

Published: 26 Apr 24

The City of Cape Town (CoCT) says its total proposed budget for water and sanitation for the upcoming 2024/25 financial year is R18.5-billion. Of this, R5.3-billion will be spent on capital projects, while R13.2-billion is allocated to operations.

Hyundai unveils nano cooling film able to slash interior heat in cars

Published: 26 Apr 24

The Hyundai Motor Company has unveiled what it says is the world’s first application of a nano cooling film. The South Korean car maker describes the film as “a revolutionary vehicle window tint that offers a significant improvement in interior cooling performance compared to conventional tint films”.

BHP seeks to break mining’s M&A curse with thorny Anglo deal

Published: 26 Apr 24

The last time BHP Group took a swing at another major miner, it was Rio Tinto back in 2007. That could have been a blockbuster $150-billion takeover, but with metals prices crashing as the financial crisis took hold and with China signaling its discontent, the plan crumbled. Having confirmed its takeover approach for rival Anglo American on Thursday, executives at the world’s biggest digger will be hoping for a better outcome this time — even with one of the most complex deals the industry has seen in years.

Implats' proposed restructuring puts 3 900 jobs at risk

Published: 26 Apr 24

JSE-listed Impala Platinum Holdings (Implats) has initiated a Section 189(3) consultation process at its South African operations, signalling thousands of potential job losses. Implats envisages a reduction of about 3 900 positions, constituting a 9% reduction in labour across the Impala Rustenburg, Impala Bafokeng and Marula operations. The corporate office aims for a 30% reduction in head office costs.

Eskom anticipates limited winter loadshedding amid generation improvements

Published: 26 Apr 24

Newly appointed Eskom group CEO Dan Marokane has provided assurances that loadshedding during the upcoming winter months will likely be contained at Stage 2, thanks to improvements in generation performance across the coal-fired power station fleet. As of April 26, Eskom has marked 30 consecutive days without loadshedding, which Marokane said on Friday was a “good moment” to reflect on. He attributed the achievement to the success of the generation recovery plan (GRP) implemented by the State-owned power utility since April 2023.

Copper close to testing $10 000 as BHP bid points to supply risk

Published: 26 Apr 24

Copper made a fresh push toward five digits as BHP Group’s blockbuster offer to buy Anglo American lent support to bulls who say the metal is headed for long-term shortages and high prices. The world’s biggest miner has proposed a $39-billion takeover of Anglo, chiefly targeting its smaller rival’s South American copper mines. The size and timing of the bid — with copper up 16% this year — is a stark sign of how resources giants are trying to muscle in on a commodity that’s crucial to green industries.

Glencore seeks investment opportunities in Nigerian mining sector

Published: 26 Apr 24

ining and trading house Glencore will invest in Nigeria's mining sector if the government ensures a stable business climate, the company's CEO said on Thursday during a visit to Nigeria's minister in charge of solid minerals. The visit comes as Nigeria is seeking to woo foreign investors to its undeveloped mining sector.