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Astral to post 465% rise in earnings as operations normalise

Published: 29 Apr 24

Integrated poultry producer Astral Foods has advised that its earnings per share (EPS) for the six months ended March 31 will increase by between 465% and 475% year-on-year. This will result in interim EPS of between 913c and 930c apiece, compared with EPS of 162c in the first half of the prior financial year.

An image showing the Sabodala-Massawa BIOX Expansion project, in Senegal

Endeavour achieves first gold pour at Senegal project expansion

Published: 29 Apr 24

Senior gold producer Endeavour Mining announces that first gold pour at the Sabodala-Massawa BIOX Expansion project, in Senegal, took place on April 18, marking the successful delivery of the BIOX Expansion project on schedule and on budget, with no lost-time injuries. Endeavour points out that the first gold pour at the Sabodala-Massawa BIOX Expansion was achieved only 24 months after construction started, transforming the Sabodala-Massawa Complex into a tier-one mine.

Eskom warns political parties against placing posters on electrical structures

Published: 29 Apr 24

Ahead of the upcoming May 29 elections, State-owned power utility Eskom has cautioned all political parties against the “dangerous practice” of placing election posters on electrical structures. The utility said in the past there had been incidents of electrocution whilst posters were being put up, which it said contravened the Occupational Health and Safety Act.

Mineral Resources and Energy Minister Gwede Mantashe

Draft Gas Master Plan released amid supply ‘cliff’ warnings

Published: 29 Apr 24

South Africa’s much-delayed draft Gas Master Plan (GMP2024) has been released for public comment by Mineral Resources and Energy Minister Gwede Mantashe, amid indications that the gap between demand and supply will grow steeply from 2026 onwards when Sasol ceases to supply Gauteng and KwaZulu-Natal industrial customers with gas imported from Mozambique. The document includes four scenarios, including a base case that shows that gas demand will far exceed supply in the short term and that the gap, which has been described as an anticipated ‘gas cliff’, will worsen as demand grows.

Silvercorp expands reach with C$200m Adventus acquisition

Published: 29 Apr 24

In a move aimed at diversification, Canadian mining firm Silvercorp has announced a C$200-million deal to venture into Ecuador, just weeks after harrowingly missing out on acquiring control of Tanzania-focused OreCorp. The all-share offer for TSX-V-listed Adventus Mining, valued at C$0.50 a share, will establish Silvercorp, traditionally focused on China, as a fresh entrant in South America.

African leaders seek record World Bank financing to combat climate change

Published: 29 Apr 24

African leaders on Monday called for rich countries to commit record contributions to a low-interest World Bank facility for developing nations that they rely on to help fund their development and combat climate change. Donors will make their cash pledges to the International Development Association (IDA), a World Bank institution that offers loans with low interest rates and long tenures, at a conference to be held in Japan in December.

Business Leadership South Africa CEO Busi Mavuso

Mavuso encouraged by restored business, govt relations following turbulent Zuma reign

Published: 29 Apr 24

Ahead of South Africa’s national elections on May 29, Business Leadership South Africa CEO Busi Mavuso says regardless of changes to government, the facts of what businesses need to thrive do not change. She expresses confidence, in her latest weekly newsletter, about the country realising its potential in the next 30 years, following a divided prior 30-year era of remarkable transformation and growth but also much regression economically and in terms of State institutions.

Image of MTN South Africa chief human resources officer Tebogo Maenetja

MTN SA launches Made4U career portal Skillsbox to empower job seekers

Published: 29 Apr 24

Telecommunications giant MTN South Africa has launched a new portal to assist unemployed South Africans on their job seeking journeys. The new Made4U career portal Skillsbox offers a comprehensive suite of resources on a user-friendly website and mobile platform designed to empower job seekers.

Transnet aims to defend its decision to partner with ICTSI at the DCT

Published: 29 Apr 24

State-owned Transnet has defended its decision to select Phillipines-based International Container Terminal Services Inc (ICTSI) as the preferred bidder for the establishment of a partnership to manage the upgrade and development of Pier 2 at the Durban Container Terminal (DCT). Following the selection of the preferred bidder, Transnet has entered into contract negotiations with ICTSI.

The Canadian Malartic operation in Quebec

Exploration efforts yield promising results for Agnico Eagle

Published: 29 Apr 24

Precious metals miner Agnico Eagle is reaping the rewards of its relentless exploration endeavours, with recent drilling campaigns yielding remarkable results across key gold projects in Canada. President and CEO Ammar Al-Joundi expressed excitement over the “pretty amazing results” obtained from exploration activists at Canadian Malartic, Detour and Hope Bay during a conference call on Friday.