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Codelco working to meet Q2 production goal, CEO says

Published: 15 May 24

Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado told Reuters, as the State-run copper miner is pushing to boost production up from its lowest in 25 years. Alvarado said that a recent rise in copper prices is a positive sign, adding that any improvements would benefit Codelco's finances, but said that Codelco must wait to see if they remain stable.

Indigenous group to take fight against Arizona copper mine to Supreme Court

Published: 15 May 24

A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer. The group said they would ask the high court to weigh in after the San Francisco-based 9th US Circuit Court of Appeals rejected a longshot bid to have the full 29-judge court reconsider earlier decisions not to block a land grant for the project. The court did not provide an explanation for its decision.

Qatar Airways to invest in an airline in Southern Africa

Published: 15 May 24

Qatar Airways will soon announce an investment in an airline in Southern Africa, its CEO said on Wednesday, part of the Gulf carrier's drive to expand its network in Africa. "We are at the final stage of an equity investment in an airline in the southern part of Africa," Badr Mohammed Al Meer said on a panel at the Qatar Economic Forum in Doha, saying the deal could be announced in two to three weeks.

US travel numbers to South Africa greater than ever before, reports United Airlines

Published: 15 May 24

The number of US visitors to South Africa is now higher than it was in 2019, the last year before the Covid-19 pandemic hit, United Airlines director sales continental Europe, India, Israel, Africa & Middle East Thorsten Lettnin tells Engineering News, in an exclusive interview. In 2022, the total number of travellers to South Africa from the US was some 350 000, a number on par with that for visitors to South Africa from the UK. “Since Covid, we have seen stronger demand on our South Africa routes,” he reports. “We think this is a new normality. It’s very good for United. We’re a major facilitator of US tourism to, and trade with, South Africa. We’re really happy. Interestingly, on the business travel side, smaller companies have come back to air travel faster that the big businesses.”

Execution risk to Anglo’s restructure plan substantial – WoodMac

Published: 15 May 24

Mining major Anglo American has accelerated its portfolio planning in the wake of rejecting fellow mining major BHP’s second bid proposal of $42.2-billion (£34-billion), or £27.70 a share, in a move that new research by consulting firm Wood Mackenzie (WoodMac) shows will take it from being the most diversified to the most concentrated major miner in the world. The report titled ‘Anglo American to rationalise all but copper and iron-ore production’ states that the company’s decision to take a strategic focus on the highest return commodities of copper and iron-ore mirrors similar moves by BHP and diversified miner Rio Tinto in looking to future-proof the business.

Gold Fields to earn into Killi’s West Tanami project

Published: 15 May 24

Exploration junior Killi Resources has announced an option and joint venture (JV) agreement with global miner Gold Fields, which has agreed to spend up to A$13-million for an 85% interest in the West Tanami project, in Western Australia. Killi CEO Kathryn Cutler said that the partnership with Gold Fields allowed access to expertise and funding for the longer term and would ensure the project continued its progress in pursuit of a new orogenic gold system in the Tanami.

Santos to sack 200 employees as project approvals slow

Published: 15 May 24

Santos, Australia's No. 2 independent gas producer, on Wednesday said it will remove around 200 roles in Western Australia, Northern Territory, and Timor-Leste unit due to sluggish project approvals and delayed growth activities. Santos conducted a review of certain business units over the recent months in the wake of some late-life assets nearing closure and related decommissioning activities while new project approvals take longer than anticipated, it said.

Plunging currencies, El Niño to delay rate cuts in African economies

Published: 15 May 24

Mounting price pressures from the resurgence of the dollar, foreign-currency crunches and adverse weather conditions are set to lead to delayed and shallower interest-rate cuts for African central banks this year. Over the next three weeks, analysts predict Nigeria, Angola and Zambia, who are still fighting double-digit inflation, will raise interest rates and only start reducing them next year.

Brazil states ask court to double what Vale, BHP should pay for dam burst

Published: 15 May 24

Two Brazilian states have asked a court to more than double the amount that miners Vale and BHP, plus a jointly owned tie-up, must pay in damages for a 2015 deadly tailings dam failure, according to a legal document seen by Reuters on Tuesday. In January, a Brazilian federal judge ruled that Vale, BHP and their joint venture Samarco must pay 47.6-billion reais in damages for the dam burst, a preliminary decision which prompted Vale and BHP to raise provisions related to the case.

Rescue efforts under way at a building collapse site in George, in the Western Cape

Forensic pathologists identify 18 of the 33 deceased in George building collapse

Published: 15 May 24

Forensic Pathology Services have, as at 06:00 on May 15, identified 18 of the workers killed in the collapse of a partially built residential building in George. The death toll has reached 33, while 19 people are still unaccounted for eight days after the building's collapse.