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Massive water power possibilities in underground mining, says COMRO book editor
Published: 24 May 24
When hydropower was being developed for South Africa’s gold-mining industry, the industry was going through a tough time and the research organisation of the day, the Chamber of Mines Research Organisation or COMRO, ceased to function in the form that it had for 30-odd years. Had COMRO continued with its intense hydraulics research through what was such an uncertain time that it merged the research organisation with the CSIR, water power could conceivably have been playing a much bigger role than it is now.
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Pan African announces capital reduction to recover overpaid distributions
Published: 24 May 24
JSE- and Aim-listed Pan African Resources will host a general meeting in London on June 10 to discuss a proposed capital reduction programme.
Additionally, the company expects a court hearing to confirm the legality of its capital reduction plans by July 2, before the capital reduction becomes effective on July 3.
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Brikor anticipates more than 100% improvement in full-year earnings
Published: 24 May 24
AltX-listed construction materials provider Brikor expects to post earnings a share of between 0.9c and 1.1c for the financial year ended February 29, compared with a loss a share of 0.7c in the 2023 financial year.
This equates to a more than 100% year-on-year increase in earnings a share.
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IATA African aviation conference to be held in South Africa in July
Published: 24 May 24
The International Air Transport Association (IATA), the global representative body for the airline industry, has announced that its second Wings of Change Focus Africa Conference (WOCFA) will take place in Johannesburg, South Africa, on July 2 and July 3 this year. The host airline for the conference will be South African Airways (SAA). WOCFA forms part of IATA’s Focus Africa initiative, and serves as a platform to examine and review the initiative’s priorities. Focus Africa is intended to reinforce the role of aviation in the continent’s development, social as well as economic, including through improving safety, reliability and connectivity, for both people and cargo.
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Zhaojin moves ahead with compulsory acquisition of remaining Tietto shares
Published: 24 May 24
ASX-listed Tietto Minerals has reported that the off-market takeover offer made by Zhaojin Capital for all of the issued shares in Tietto that Zhaojin does not already own, closed at 19:00, Sydney time, on May 14. As at Tuesday, May 14, Zhaojin had voting power of 90.72% in Tietto.
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Tourism Transformation Fund has approved R272m of financing assistance
Published: 24 May 24
The Tourism Transformation Fund (TTF) has approved transactions to the value of R272-million since its inception in 2017. The TTF was launched as a collaborative effort between the Department of Tourism and the National Empowerment Fund (NEF) to foster economic transformation and empowerment in the tourism sector.
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Desert to Power Initiative to transform Africa’s most vulnerable region into an energy hub
Published: 24 May 24
The African Development Bank (AfDB) has emphasised its role in delivering the Desert to Power Initiative, which aims to energise one of the least developed and most marginal parts of the continent. The Sahel region, which is one of the most vulnerable regions in the world, will become a solar energy hub, targeting 11 countries: Burkina Faso, Chad, Djibouti, Eritrea, Ethiopia, Mali, Mauritania, Niger, Nigeria, Senegal and Sudan. Desert to Power seeks to generate 10 GW of solar power by 2030 by ...
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MC Mining acknowledges Goldway’s plans to buy all outstanding shares
Published: 24 May 24
ASX-, JSE- and Aim-listed MC Mining has acknowledged the announcement made on May 22 by investment firm Goldway Capital Investment regarding an offer to compulsorily buy out certain ordinary shares in MC Mining following Goldway's recent off-market takeover offer. The terms of the buy-out offer mirror those of the initial takeover offer. The consideration for the buy-out offer stands at A$0.16 a share.
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