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Mineral Resources Minister Gwede Mantashe

Mantashe warms to Anglo plan after opposing BHP bid

Published: 14 May 24

South Africa’s mines minister struck a conciliatory tone as Anglo American Plc announced plans to separate its platinum unit as part of a major shakeup following its rejection of two approaches from BHP Group. “It is their strategy and they must do anything that will optimize value,” Mines Minister Gwede Mantashe said by phone.

All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers

Published: 14 May 24

Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping its portfolio to consist of copper in Peru and Chile, top-quality iron-ore in South Africa and Brazil, and the opportunity presented by the crop nutrients project in the UK.

Korea Zinc sees US opportunities as it targets big copper growth

Published: 14 May 24

The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global transition to renewable energy. Korea Zinc, which also processes nickel, is looking to increase its copper production to 150 000 t/y by 2028 from around 30 000 t in 2023, chairman Yun Choi said in an interview in New York.

Two dead, one missing after tremor damages Polish coal mine

Published: 14 May 24

Two miners were killed in southern Poland and one remained trapped underground after an overnight tremor caused a partial collapse in a section of the Myslowice-Wesola mine, the mine's owner said on Tuesday. The tremor occurred 870 m underground.

Well testing ahead of gas flow to the generator

Kinetiko thrilled with successful onshore gas-to-power demonstration in South Africa

Published: 14 May 24

ASX-listed Kinetiko Energy has successfully demonstrated that it can produce gas-to-power (GtP) from an onshore natural gas resource at its Amersfoort project, in Mpumalanga, South Africa. The company is focused on developing an energy transition solution for South Africa focused on commercialising advanced shallow conventional gas projects in the country's Mpumalanga, Free State and KwaZulu-Natal provinces.

Job seekers waiting for casual work next to a road in Johannesburg

Unemployment rate worsens to 32.9%

Published: 14 May 24

South Africa’s official unemployment rate has widened by 0.8 of a percentage point to 32.9% in the first quarter of the year, compared with 32.1% in the fourth quarter of last year. The number of employed people in South Africa increased by 22 000 to 16.7-million, but the number of unemployed people increased by 330 000 to 8.2-million, Statistics South Africa (Stats SA) reports.

SolGold advances financing for Cascabel, secures $10m loan

Published: 14 May 24

LSE- and TSX-listed SolGold said on Tuesday that it was making significant strides in securing financing for its Cascabel project, in Ecuador, with capital providers expressing a keen interest in committing to a longer-term financing package. The company is in detailed discussions with capital providers for financing that will cover a significant portion of the estimated initial capital cost of the copper and gold project.

PGMs to face continued supply constraints, low prices – report

Published: 14 May 24

Precious metals consultancy Metals Focus’ new ‘Platinum Group Metals (PGM) Focus 2024’ report, which offers a comprehensive analysis of the PGM industry, indicates that the rest of the year will be defined by persistent supply constraints, coupled with robust demand, leading to another year of deficits across platinum, palladium and rhodium. “However, high inventories will [also] weigh on prices,” Metals Focus PGM director Wilma Swarts says.

Trade, Industry and Competition Minister Ebrahim Patel

dtic seeks to create a competitive medical technology industry with new master plan

Published: 14 May 24

Trade, Industry and Competition Minister Ebrahim Patel has launched the Medical Technology (MedTech) Master Plan, which is aimed at creating a proficient and competitive medical technology industry over the next three years that will supply domestic and international markets. “The medical technologies sector offers a unique and significant opportunity for growth in South Africa. The sector has emerged as an increasingly innovative sector, developing technologies that can service both our local market and abroad.

Future Metals secures EIS grant for Eileen Bore drilling

Published: 14 May 24

Exploration company Future Metals has been awarded A$180 000 under the Western Australian government’s exploration incentive scheme (EIS) to conduct drilling at the Eileen Bore prospect. Situated about 20 km from Future’s Panton project, in the East Kimberley region, Eileen Bore is an advanced exploration target. Historical drilling data has revealed a broad zone of copper, nickel and platinum group metals mineralisation.