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De Grey raises A$600m for WA gold project

Published: 08 May 24

Western Australian gold explorer and developer De Grey Mining has launched a fully underwritten A$600-million equity raising, derisking the equity component of the financing for the Hemi project. The equity raising comprises a A$344-million institutional placement and a 1 for 7.95 prorata accelerated nonrenounceable entitlement offer to raise A$256-million.

Messe Frankfurst South Africa MD Michael Dehn

Commercial vehicle industry poised to grow, grasp new opportunities despite challenges

Published: 08 May 24

The commercial vehicle industry in South Africa is getting to understand the opportunities in the automotive sector, such as in the autonomous vehicles space, despite various macroeconomic challenges, event organiser Messe Frankfurt South Africa MD Michael Dehn said during the Futureroad vehicle trade exhibition on May 3. He highlighted how the commercial vehicle industry continued to be a key driver of innovation and how it boosted the overall automotive industry’s ability to contribute 4.9% to gross domestic product and keep more than 110 000 people employed.

Australia to spend A$566m on mapping out resource deposits

Published: 08 May 24

Australian Prime Minister Anthony Albanese has announced an investment of A$566-million over the next decade to bolster geoscientific research across the nation. The Geoscience Australia-led initiative, welcomed by industry bodies such as the Minerals Council of Australia (MCA) and the Association of Mining and Exploration Companies (Amec), aims to unlock the vast potential of Australia’s untapped geological resources.

A graph showing the share of hydropower, solar and wind electricity generation growth

Renewables provided record 30% of global electricity in 2023, Ember says

Published: 08 May 24

Growth in solar and wind power pushed renewable generation to a record 30% of global electricity production in 2023, putting a global target to triple renewable capacity by 2030 within sight, a report by think tank Ember said. Cutting fossil fuel use and emissions in the power sector is seen as vital to meeting global climate targets. More than 100 countries at the COP28 climate summit in Dubai last year agreed to triple renewable energy capacity by 2030.

B2Gold says Goose project slightly behind schedule

Published: 08 May 24

Development of the Goose openpit and underground project, in Nunavut, is running slightly behind schedule, with the first gold pour pushed out by one quarter. Senior gold producer B2Gold explains that the project is behind schedule owing to equipment availability, adverse weather conditions and prioritisation of critical path construction activities.

Freeport is preparing to ship as much as 900 000 t of copper concentrate from its Grasberg mine

Indonesia says it will extend copper export permits for Freeport, Amman

Published: 08 May 24

Indonesia will extend copper concentrate export permits for Freeport Indonesia and Amman Mineral Nusa Tenggara, President Joko Widodo told reporters on Wednesday, adding that details of the extensions were still being worked out. Both Freeport Indonesia and Amman are building copper smelters expected to start operation in June. But the companies have said the new smelters would need months to ramp up capacity to absorb their copper concentrate output.

Firebird advances feasibility of manganese sulphate production in China

Published: 07 May 24

Australia’s Firebird Metals has announced promising results from its feasibility study for the production of battery grade manganese sulphate in China. The study, focused on the first stage of production, uses third-party manganese ore and yielded “excellent” outcomes. The study, Firebird says, validates its China-based lithium manganese iron phosphate (LMFP) growth strategy, which aims to establish itself as a low-cost producer of battery-grade high-purity manganese sulphate and high-purity manganese tetra oxide. Both are key cathode materials in LMFP batteries for electric vehicles.

Zimbabwe aims to use FDI to develop a competitive economy by 2030

Published: 07 May 24

Zimbabwe held an investment conference on May 2 and 3 in South Africa during which its officials explained that the country of 16-million people wants to use local and international investments into key sectors of its economy to further develop the country by 2030. This objective is encapsulated in its National Strategy Vision 2030 and, to attract investors, the country has entered into negotiations to settle compensation claims linked to land seizures from farmers two decades ago, as well as to settle its international debt default to tap into international finance markets.

Trade, Industry and Competition Minister Ebrahim Patel

Patel believes industrialist policy needs continued investment to yield full potential

Published: 07 May 24

Trade, Industry and Competition Minister Ebrahim Patel has called for rapid scaling up of infrastructure spending, among other urgent initiatives, to ensure current industrial policy can succeed. He was speaking at the launch of the Department of Trade, Industry and Competition’s (dtic’s) newly launched Industrial Policy and Strategy Review at the newly established Tshwane Automotive Special Economic Zone (TASEZ), on May 7.

New rail-focused logistics organisation launched

Published: 07 May 24

A new logistics industry body the Multimodal Inland Port Association (MIPA), formed by organisations in the transportation sector, has been launched to enhance logistics performance, reduce costs and boost efficiency. The association is dedicated to improving Southern Africa's supply chain. Specifically, the MIPA aims to optimise efficiency and cost-effectiveness by increasing cargo transportation on rail through the use of more inland ports.