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Australia cracks down on foreign investment in critical minerals

Published: 02 May 24

Australia will tighten scrutiny of foreign investment into mining and refining of critical minerals as part of an overhaul of its national regime, while speeding up approvals in low-risk areas to boost economic growth. Treasurer Jim Chalmers announced the changes in a speech to the Lowy Institute think tank in Sydney on Wednesday, saying Australia welcomes international investment “but only if it’s in our national interest.”

Barrick CEO 'can't see any reason' for in-person AGMs

Published: 02 May 24

Barrick Gold's CEO says the gold miner will continue to host virtual-only annual general meetings despite calls for public companies to return to an in-person format. After Barrick hosted its latest virtual-only AGM on Tuesday, CEO Mark Bristow said he “can’t see any reason” to return to in-person sessions. Back when the company was holding in-person annual meetings, they were routinely attended by activists and non-governmental organizations, such as MiningWatch Canada, that have accused Barrick of human rights abuses in Africa.

Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM

Published: 02 May 24

Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing the spurned offer by takeover regulations. Anglo rejected the offer on Friday, saying it was opportunistic, significantly undervaluing the company and its future prospects.

Panel highlights the urgency of climate change governance

Published: 30 Apr 24

A panel of experts recently underscored the critical importance of climate change governance for businesses and governments worldwide in a webinar hosted on April 17, 2024, by Creamer Media Webinars in collaboration with ESG Africa Conference. The session, which was moderated by ESG Africa Conference co-founder Wendy Poulton, provided insights into the evolving climate governance landscape and the challenges and opportunities it presented.

An image showing aircrafts at the Air Force Mobile Deployment Wing

Yearly Air Force show promises 'mini-war', aircraft displays

Published: 30 Apr 24

The South African Air Force (SAAF) Museum Annual Airshow will be held on May 4 at the Air Force Mobile Deployment Wing (AF MDW) alongside Old Johannesburg Road in Valhalla, Pretoria. With the theme “Flight Through Time – Legends of The Skies”, attendees will be able to experience aviation’s past, present and future; afforded the opportunity to witness aviation’s evolution; and interact with the aircraft, as well as pilots, aircrew and SAAF members.

Decarbonisation investment while paying carbon tax is impossible, says AMSA's Verster

Published: 30 Apr 24

Paying billions of rands in carbon tax while simultaneously investing in decarbonisation efforts is impossible, steel maker ArcelorMittal South Africa (AMSA) CEO Kobus Verster has said. In South Africa, the carbon price is currently fixed at R308/t of carbon dioxide equivalent (CO2e) Scope 1 emissions by 2026 and will increase to R462/t by 2030, while tax-free emissions related to performance, trade exposure, and emission categorisation are afforded to all industry.

Clean energy critical minerals can transform sub-Saharan Africa – IMF

Published: 30 Apr 24

Sub-Saharan Africa holds an estimated 30% of the world’s volume of proven critical mineral reserves and managing their use properly as part of the global transition to clean energy has the potential to transform the region, the International Monetary Fund (IMF) states in its ‘Regional Economic Outlook’ report. The global transition to clean energy is set to further heighten demand for critical minerals. Between 2022 and 2050, demand for nickel will double, cobalt triple and lithium rise ten-fold, according to the International Energy Agency.

Sacci, Sakeliga pay tribute to Dr Sam Motsuenyane

Published: 30 Apr 24

Business organisation the South African Chamber of Commerce and Industry (Sacci) has noted with sadness the passing of Dr Sam Motsuenyane, who “was a business leader par excellence”. "Motsuenyane played a seminal and pivotal role in organised business and was the most authoritative voice in representing black business over the decades. A giant tree has indeed fallen," the organisation says.

Outa asks govt to clarify roles of Ministers in ERA Bill, minimise Nersa’s price-setting power

Published: 30 Apr 24

While the Organisation Undoing Tax Abuse (Outa) supports the broad intent of the Electricity Regulation Amendment (ERA) Bill, as it seeks to improve energy security in the country, it says more must be done to move away from regulated pricing to more market-oriented pricing with greater levels of competition and efficiency. Outa considers the ERA Bill to be extremely important legislation for putting in place the necessary legal, regulatory, planning and pricing frameworks, rules and procedures to implement government policy for a restructured electricity supply energy.

Booming Harmony ups full-year output and grades; lowers cost and capital guidance

Published: 30 Apr 24

Execution and preparatory work on key gold projects are on track in South Africa, and early works on the copper project in Australia are to commence, Harmony Gold reported on Tuesday. In South Africa, the Moab Khotsong gold mine extension and the Mine Waste Solutions development are on track, along with preparatory work being under way at Mponeng; in Australia, early works are ready to commence at the Eva copper project.