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Potash ore Kore expects EPC finalisation in Q2, following which financing will ensue
Published: 28 Mar 24
Congo-Brazzaville-focused miner Kore Potash has advised that the condition for conversion of five convertible loan notes (CLN) totalling $530 000 has been met, and, accordingly, these will now be converted into 109-million new ordinary shares in the company at a price of 0.38p apiece. The company will use the proceeds to advance work on the Kola project, as well as for working capital.
Nigeria to grant mining licences only to companies that process locally
Published: 28 Mar 24
Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday. This signals a shift from Nigeria's decades-old policy of exporting raw materials as African governments take steps to extract more value from their solid mineral deposits.
Ironveld smelter Ironveld ramp-up slower than expected
Published: 28 Mar 24
Although high-purity iron, vanadium and titanium producer Ironveld marked the first sales of metal products, including high-purity iron and titanium slag, from its Rustenburg smelter to local buyers during the six months ended December 31, 2023, operational challenges and modifications delayed the expected ramp-up for the remainder of the year. Located on the Northern Limb of the Bushveld Complex in Limpopo, Ironveld's project continued with various activities during the period. Directors provided working capital support of up to £500 000 to ensure flexibility in funding. The company also carried on with the refurbishment of the Rustenburg smelter and initiated mining activities.
Mike Silber to join MTN
Published: 28 Mar 24
Telecommunications giant MTN Group has appointed Mike Silber as group executive regulatory, effective April 1. Over the past five years, Silber held the role of Liquid Telecom group chief regulatory officer, where he was instrumental in the creation and expansion of the most extensive cross-border fibre network in Africa, as well as the continent's largest networked data centre operation.
dump truck on mine construction site Kropz records $5.7m loss for 2023 as Elandsfontein ramps up
Published: 28 Mar 24
As phosphate miner Kropz is still ramping up to steady-state production, the company recorded a $5.7-million gross loss for the 12 months ended December 31, 2023. The company said on March 28 that the loss was largely owing to its Elandsfontein mine having to discount its sales prices as a new market entrant and to consider lower grades being achieved as part of the ramp-up process, coupled with higher production costs per tonne.
An image of the Blanket gold mine Caledonia’s 2023 full-year performance in line with expectations
Published: 28 Mar 24
Gold miner Caledonia Mining notes in its operating and financial results for the year ended December 31, 2023, that its performance was in line with both market expectations and production guidance. Gross revenue was $146.3-million, 3% higher than in 2022, owing to a 7.8% increase in the average realised price of gold sold.
Lotus appoints debt adviser for Kayelekera restart
Published: 28 Mar 24
ASX-listed Lotus Resources has appointed Orimco to arrange debt for its flagship Kayelekera uranium project, in Malawi, where the company intends to restart operations in late 2025. Lotus says it chose debt adviser Orimco based on its demonstrated record, knowledge and experience arranging debt for resource projects in Africa and globally.
City of Cape Town CFO Kevin Jacoby, Finance MMC Siseko Mbandezi, Mayor Geordin Hill-Lewis and city manager Lungelo Mbandazayo Cape Town tables R76.4bn budget; infrastructure spending at R12.1bn
Published: 28 Mar 24
Cape Town Mayor Geordin Hill-Lewis has tabled a R76.4-billion draft budget for the city for the 2024/25 financial year. The budget proposes record infrastructure investment of R12.1-billion for the year, and nearly R40-billion over the next three years.
NWU partners with IAEA to boost nutrition in Africa
Published: 28 Mar 24
South Africa’s North-West University (NWU) has become the lead host institution for Anglophone African countries in a pan-African initiative launched by the International Atomic Energy Agency (IAEA), intended to build capacity across the continent for scientific research into micronutrients. Micronutrients, such as iron, zinc and vitamin A, are essential for human health, and particularly important for children and pregnant women. (Morocco is the lead host country for the programme for ...
Sasscal Executive Director Dr Jane Olwoch More green hydrogen insight on way as Southern African scientists head to Germany Has Video
Published: 28 Mar 24
Twelve scientists from Southern African Development Community (SADC) countries will head to Germany in May, where they will have an opportunity to obtain more in-depth insight into green hydrogen amid the region’s unveiling of important green hydrogen projects, pilot plant initiatives and the awarding of a large number of green hydrogen scholarships. Highlighting this week during the Sasscal-organised two-day Green Hydrogen Symposium in Namibia was Sasscal executive director Dr Jane Olwoch, who emphasised to Engineering News & Mining Weekly in a Zoom interview that “the countries of Southern Africa should first and foremost take note of the region’s advantages of participating in the green hydrogen economy.” (Also watch attached Creamer Media video.)
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