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Used-car market value climbs 3.8% to more than R100bn, says AutoTrader Used-car market value climbs 3.8% to more than R100bn, says AutoTrader
Published: 03 Aug 20
AutoTrader’s new yearly used-car industry report, launched on August 3, shows that South Africans used the country’s largest digital used-car trading portal to conduct 401-million online searches from July last year to the end of June this year.  This is an all-time record and an almost 40% increase year-on-year.
Rio Tinto sues Australia's Monadelphous over fire at iron ore facility
Published: 03 Aug 20
Global miner Rio Tinto Ltd on Monday said it has initiated proceedings against a unit of engineering contractor Monadelphous Group over a fire that occurred last year at its iron ore processing facility at Western Australia. A Rio spokesperson confirmed the suit after Monadelphous said in a statement that it would contest a writ received from Rio. Monadelphous said it was separately informed by Rio that the claim is for A$493-million ($351-million), largely consisting of losses due to inability to process iron ore during the period of repair work at the facility.
Treasury invites comment on Itac metal export tax rates recommendations
Published: 03 Aug 20
The National Treasury and the South African Revenue Service (Sars) have published, for public comment, the various draft taxation documents, including the proposed introduction of an export tax on scrap metals. This follows after Trade, Industry and Competition Minister Ebrahim Patel issued a trade policy directive to the International Trade Administration Commission of South Africa (Itac) to look into appropriate amendments to the price preference system (PPS) guidelines, which can help address the shortage of good quality scrap metals.
Sasol calls for bids for 10 MW solar plants at Mpumalanga, Free State operations Sasol calls for bids for 10 MW solar plants at Mpumalanga, Free State operations
Published: 03 Aug 20
Chemicals and energy group Sasol has issued a request for proposals (RFP) for the development of two embedded solar photovoltaic (PV) facilities of 10 MW apiece at its operations in Secunda, in Mpumalanga, and Sasolburg, in the Free State. The closing date for submissions is Friday, October 2.
Carnaby sells Tick Hill stockpile
Published: 03 Aug 20
ASX-listed Carnaby Resources has sold the historic Tick Hill tailings stockpile, in Queensland, for A$6-million, retaining full ownership of the Tick Hill project. The consideration from private mining and processing group BIM Metals will consists of A$4-million in cash and a 5% net smelter royalty on all gold sales from the stockpile, valued at around A$2-million at the current gold price.
SpaceX’s first crewed mission ends successfully with safe splashdown SpaceX’s first crewed mission ends successfully with safe splashdown
Published: 03 Aug 20
The first ever commercial crewed spacecraft mission ended successfully on Sunday when the Crew Dragon capsule plashed down in the Gulf of Mexico off the coast of the US state of Florida. The spacecraft, designed, developed, owned and operated by private-sector company SpaceX, was carrying US National Aeronautics and Space Administration (Nasa) astronauts Robert Behnken and Doug Hurley.  SpaceX was founded and is headed by South African-born engineer and entrepreneur Elon Musk. This mission was technically a demonstration mission, known as Demo-2 (Demo-1 was an uncrewed mission), which was the final step before Nasa can complete certification the Crew Dragon spacecraft, the Falcon 9 rocket, their ground support systems, and mission procedures and operations, for routine crewed missions.
Weekly Coal Index Report Weekly Coal Index Report Has PDF
Published: 03 Aug 20
There is an expectation of price recovery in the market, as demand for power grows alongside the loosening of Covid-19 restrictions, and as more producers hold back supply. In Europe, coal burn is likely to remain weak through 2020 but will be offset by an even bigger contraction in supply, drawing down stocks heading into 2021 and explaining the steep contango that we see in the forward curve.
Crop nutrients have double potential of coal being exited – Anglo Crop nutrients have double potential of coal being exited – Anglo
Published: 03 Aug 20
Covid-19 notwithstanding, diversified mining company Anglo American will this year be spending the $300-million that it forecast on the Woodsmith polyhalite project in the UK, which gives it entry into the crop nutrients business at a time when fertilising is being hailed a godsend to ease global food security fears. On  entering crop-nutrient mining and exiting thermal-coal mining, Anglo CEO Mark Cutifani told analysts during a virtual conference: “I think it’s important to remember that as we transition out of thermal coal, we’re building the crop nutrients business, which probably has got double the potential contribution it can make to the business. We think that’s a pretty good swop.”
Guyana-Zijin court hearing delayed
Published: 03 Aug 20
TSX-listed Guyana Goldfields still expects its takeover by Zijin Mining to conclude this month, despite a delay in a court hearing for the final order to approve the South America-focused mining company's takeover by the Chinese group. The Ontario Superior Court of Justice fairness hearing for the final order to approve the arrangement has been deferred from July 30, to August 14, after two third parties informed the court that they intended to appear at the hearing. The third parties are seeking that the Guyana Goldfields sets aside, in anticipation of the completion of the arrangement, funds for the potential payment of certain claims they have made against the company. The gold miner says neither has indicated that it is seeking to challenge the fairness of the arrangement to shareholders.
Energy Fuels optimistic about US uranium developments Energy Fuels optimistic about US uranium developments
Published: 03 Aug 20
Uranium and rare earths elements (REE) company Energy Fuels CEO Mark Chalmers is optimistic that the proposed $1.5-billion to create a US uranium reserve will be funded and implemented, despite sometimes “slow and uneven” progress in the government. “Our allies in Congress and the Trump Administration are pushing hard to fund $150-million a year to create the US uranium reserve,” he says, referring to the 2021 Budget request for the Department of Energy to establish a domestic reserve.
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