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Tribunal approves Vitol’s buyout of Engen

Published: 25 Apr 24

The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions. The tribunal’s order follows a hearing last month during which it heard submissions from the Competition Commission, the merging parties, the Department of Trade, Industry and Competition (dtic), Sasol South Africa, Astron Energy South Africa, the National Union of Metalworkers of South Africa, and the Chemical, Energy, Paper Printing, Wood and Allied Workers Union. Following the hearing, the tribunal requested additional submissions from the commission, the merging parties, Sasol and Astron Energy. MERGING PARTIES Vitol supplies and distributes crude oil, petroleum products and natural gas globally.

Solar rental firm begins testing roll-out model for underserved communities

Published: 25 Apr 24

Local solar-as-a-subscription service provider Wetility is deploying a rooftop solar solution in a lower-income community as part of a proof-of-concept study to firm up the feasibility of extending the offering to other underserved areas. COO Franta Pour tells Engineering News that the company’s current focus is on the provision of bundled solar-battery rental solutions to more affluent households and small and medium-sized businesses, where attention is shifting progressively from security of supply to electricity bill savings.

Hummingbird’s first-quarter performance impacted by contractual dispute at Kouroussa

Published: 25 Apr 24

Despite what its CEO Dan Betts deemed a challenging quarter, Aim-listed Hummingbird Resources delivered an 18% quarter-on-quarter increase in gold production at just under 17 000 oz from the Yanfolila mine, in Mali, in the quarter ended March 31. This while the Kouroussa project, in Guinea, produced 5 868 oz of gold. The newly commissioned mine experienced disrupted operations in January owing to a fire at a fuel depot, with fuel deliveries having resumed later in the month.

Image of the MAN Lion’s Explorer E electric bus

‘No operational issues’ as Golden Arrow tests electric Explorer bus

Published: 25 Apr 24

Golden Arrow Bus Services (GABS) says it will probably make a final decision in the third or fourth quarter of this year on whether it will acquire any Lion’s Explorer E electric buses from MAN Truck & Bus South Africa (MAN SA). MAN SA in September provided GABS with its first Lion’s Explorer E electric bus for test purposes.

Africa has to get involved in carbon markets

Published: 25 Apr 24

The oil and gas industry is evolving, and has to, highlighted commodities trading and risk management company Ion Commodities VP product strategy Lance Fogtman, in a panel discussion at the 2024 African Refiners and Distributors Association conference, in Cape Town. He reviewed a particular aspect of the global markets for the energy transition – the carbon market. Or, rather, the carbon markets, as there were currently multiple such markets in the world. There was no single global carbon market, and he doubted that there would ever be one. But the important thing about all the current carbon markets was that they put a price on carbon.

Gem to report 15% q/q rise in carat sales for the first quarter

Published: 25 Apr 24

London-listed Gem Diamonds notes in a trading update for the first quarter of this year that it sold 32 571 ct of diamonds recovered from its 70%-owned Letšeng mine, in Lesotho. This represents a 15% increase on the 28 402 ct sold in the fourth quarter of 2023.

Paratus Botswana completes Botswana Kalahari fibre route

Published: 25 Apr 24

Telecommunications and network services provider Paratus Botswana has completed the last leg of the new 840 km Botswana Kalahari Fibre (BKF) route between the Namibian border and Lobatse. The new BWP70-million route, which was activated at the end of March, is the largest significant investment in its own infrastructure by Paratus Botswana to date and completes the last portion of the Paratus-built Trans Kalahari Fibre route running from Johannesburg to Swakopmund in Namibia.

Vedanta misses Q4 profit estimates on lower prices

Published: 25 Apr 24

ndian mining group Vedanta reported a 27% drop in fourth-quarter profit on Thursday, reflecting weaker prices of major metals like aluminium and zinc amid ballooning finance costs. The oils-to-metals conglomerate, led by billionaire Anil Agarwal, posted a consolidated net profit of 13.69-billion rupees (about $164-million), falling behind analysts' estimates of 21.10-billion rupees, as per LSEG data.

Pilot Crushtec introduces Swedish brand of large-scale crushers to the Southern African market

Published: 25 Apr 24

Local mobile and semi-mobile crushing and screening equipment provider Pilot Crushtec has expanded its product lineup to the Southern African mining market with the addition of Swedish brand Jonsson’s crushers and screens. The range complements the company’s existing offering of Metso equipment, particularly filling the gap of large-scale premium crushing and screening requirements with tracked units in the region.

Anglo American's corporate head office in South Africa

Anglo shareholder LGIM says BHP approach 'unattractive'

Published: 25 Apr 24

Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive". "As with many other UK-listed companies, we believe the valuation of Anglo American to be depressed and regard the proposed exchange ratio as an unattractive proposition for long-term investors," Nick Stansbury, head of climate solutions at Legal & General Investment Management (LGIM), told Reuters in an email on Thursday.