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Cyclones slash Australian gold production in March quarter

Published: 03 Jun 24

Australian gold mine production fell to 70 t in the March quarter, from 77 t in the December quarter, as a series of cyclones moved inland, with heavy rain wreaking havoc on the country's main gold producing regions in Western Australia, Queensland and the Northern Territory. “Gold production is dislocated almost every March quarter,” said Melbourne-based Surbiton Associates director Dr Sandra Close.

Iron-ore tumbles to lowest in six weeks on China demand concerns

Published: 03 Jun 24

Iron-ore dropped to the lowest level in more than six weeks on worries over the outlook for Chinese demand, which has been hammered by the protracted property crisis. China’s housing slump is now in its third year, weighing on the world’s second-largest economy and exacerbating a liquidity crunch among developers. Policymakers are trying to revive sentiment among homebuyers who are worried about falling prices and unfinished apartments.

LS Double Helix turbines at the V&A Waterfront in Cape Town

V&A Waterfront pilots ‘aesthetically pleasing’ small-scale wind turbines

Published: 03 Jun 24

Cape Town’s V&A Waterfront is pioneering the integration of small, low-noise vertical-axis wind turbines into its green electricity supply mix, following the installation of four 1-kW units within the mixed-use property’s Silo District and another 3-kW turbine near to the complex’s Breakwater parking. The LS Double Helix turbines have been sourced from LuvSide, of Germany, which has in parallel established LuvSide South Africa in partnership with Energy Systems Africa to pursue new market opportunities for its vertical- and horizontal-axis solutions.

South Africa’s post-election wrangling leaves investors in limbo

Published: 03 Jun 24

Investors braced for further upheaval in South Africa’s financial markets in the wake of last week’s elections that produced no outright winner, with the outcome of ongoing coalition talks remaining highly uncertain. The African National Congress (ANC) fell short of a parliamentary majority for the first time since it took power three decades ago, as its supporters voiced their anger about endemic poverty, unemployment and crime by boycotting the polls or backing its rivals. It won 40.2% of the votes cast on May 29, results released by late Sunday showed.

EOH appoints new interim CEO, non-executive directors after resignations

Published: 31 May 24

JSE-listed information technology services company EOH has appointed Marius de la Rey as interim CEO, Veronica Motloutsi as an independent nonexecutive director, and Dennis Venter and Rhys Summerton as non-independent nonexecutive directors, effective from May 30. This comes after EOH chairperson, interim CEO and director Andrew Mthembu resigned. Fatima Newman stepped down as a director but will remain as EasyHQ CE. Bharti Harie resigned as independent non-executive director.

The home of Malbec wine makes a play for copper in Argentina mining revival

Published: 31 May 24

Argentina’s Mendoza province, known for Malbec vineyards that draw tourists from across the world, is moving to spur exploration of its copper deposits long shunned by prospectors due to restrictions and red tape. Authorities have identified a vast region in the Andes Mountains — about the size of New Jersey — where they plan to expedite environmental permits with blanket authorization to unlock copper projects and tap a booming market of the metal needed for the global push toward electrification.

Emira reports strong full-year operational results

Published: 31 May 24

Despite high interest rates and difficult operating conditions, JSE-listed Emira Property Fund reported strong operational results, strategic delivery and capacity-enhancing active capital recycling for its financial year ended March 31. The company declared a full-year dividend a share of 117.02c, and its net asset value a share increased by 2.2% to R17.33.

South Africa achieves trade balance surplus of R10.5bn in April

Published: 31 May 24

South Africa recorded a preliminary trade balance surplus of R10.5-billion in April, the South African Revenue Services (Sars) reports. This surplus is attributed to exports of R169.5-billion and imports of R159.1-billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).

Armscor lab to host African scientists for anti-chemical warfare course

Published: 31 May 24

A division of the Armaments Corporation of South Africa (Armscor), Protechnik Laboratories, will soon host 22 scientists from 14 countries for an analytical chemistry course. Protechnik has been offering the course yearly for 14 years and will, this year, host the course at Techno Park, in Centurion, from June 3 to 14.

Coega achieves R1bn SMME procurement spend for 2023/24

Published: 31 May 24

The Coega Development Corporation’s (CDC’s) Small, Medium-Sized and Microenterprises (SMME) Development Programme has achieved procurement spend of over R1-billion for the 2023/24 financial year. This achievement equates to 69.42% of the total spend for the year and relates to the overall spend allocated to SMMEs across the organisation’s infrastructure development portfolio, which includes the Department of Health, Department of Education and the Department of Public Works and Infrastructure, among others.