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An image of CEO Busiswe Mavuso South Africa must commit to, accelerate reforms to achieve growth – BLSA
Published: 22 Apr 24
Last week’s ‘World Economic Outlook’ (WEO) published by the International Monetary Fund (IMF) was a reminder of how far South Africa is from the kind of economic performance it should achieving as a country, Business Leadership South Africa (BLSA) CEO Busiswe Mavuso writes in her latest weekly newsletter. The WEO showed that the IMF is expecting South Africa to grow only 0.9% this year, rising to a still low 1.2% in 2025, she informs.
203 ct Type IIa diamond Lucapa sells three diamonds for $10.5m in first tender
Published: 22 Apr 24
ASX-listed Lucapa Diamond Company has sold three exceptional diamonds recovered from the Lulo mine, in Angola, for $10.5-million at tender. The tender was concluded on April 19 and was conducted by Sodiam, in Luanda.
Exploration drilling at the Toliara project Base Resources, Energy Fuels to merge, create enhanced critical minerals company
Published: 22 Apr 24
ASX- and Aim-listed Base Resources and US-based uranium and critical minerals producer Energy Fuels have reached a binding agreement for Energy Fuels to acquire 100% of the issued shares in Base Resources by way of scheme of arrangement. Base shareholders are to receive 0.0260 Energy Fuels common shares plus an unfranked special dividend of A$0.065 for each Base share held, equating to total consideration of about A$0.302 a share.
Gem Diamonds' 169.15 ct Type II white diamond Gem Diamonds recovers 169 ct diamond in Lesotho
Published: 22 Apr 24
London-listed Gem diamonds has recovered a 169.15 ct Type II white diamond from the Letšeng mine, in Lesotho. The find marks the fourth diamond greater than 100 ct that Gem has recovered in the year-to-date.
Francois Hardy Newmont promotes Hardy to chief technology officer
Published: 22 Apr 24
US-headquartered gold major Newmont on Friday announced the appointment of Francois Hardy as new chief technology officer (CTO). With more than three decades of technical and operational expertise in the mining industry, Hardy brings a wealth of experience to his new role. Having joined Newmont in 2002, Hardy has held various key positions within the company, including group head of exploration, MD for Africa and general manager at Tanami.
President Cyril Ramaphosa South Africa evades US censure even as it builds links to rivals
Published: 22 Apr 24
South Africa is playing all sides when it comes to foreign policy as the country seeks to position itself as a leading voice of the Global South, and the approach seems to be working — so far. The Brics group of developing nations held its annual summit in South Africa last year and the Group of 20 is set to follow suit in 2025, highlighting Pretoria’s growing international sway. President Cyril Ramaphosa’s efforts to secure vaccines for Africa during the Covid-19 pandemic, help broker an end to Russia’s war in Ukraine and bring a genocide case against Israel at the International Criminal Court over its Gaza campaign have further enhanced its profile, despite the mixed results.
LPG gas bottles Project envisions rollout of smart LPG, solar systems, hydrogen stoves to 3.51m indigent households
Published: 22 Apr 24
Energy solutions company Kili Energy is spearheading a large-scale initiative, the Kili Energy Clean Energy Democratisation Project, to provide smart liquefied petroleum gas (LPG) canisters and stoves, smart solar systems and novel hydrogen-powered stoves to 3.51-million indigent households in eThekwini, Tshwane, Cape Town, Johannesburg, the OR Tambo district municipality and Nelson Mandela Bay. The aim of the project is to provide energy liberation for townships and other indigent households, while simultaneously contributing to the decarbonisation of the country’s electricity supply.
Copper nears $10 000 as investors bet on rising global demand Copper nears $10 000 as investors bet on rising global demand
Published: 22 Apr 24
Copper edged closer to $10 000 a ton after an April rally fueled by bets that a recovering global economy will lift demand for industrial materials. Metals have posted broad gains in recent weeks, and copper opened Monday with a fresh advance to a two-year high. Signs of improvement in manufacturing activity from the US to China have buoyed metals, and stubborn inflation is attracting renewed wagers on commodities.
Vladimir Potanin Nornickel set to build copper plant in China after shutting Russian factory
Published: 22 Apr 24
Metals giant Nornickel will close its copper plant that seeks to cut sulphur dioxide emissions in the Russian Arctic and build a new one in China, CEO Vladimir Potanin said, after Western technology partners refused to supply parts. Nornickel, the world's largest palladium producer and a major producer of high-grade nickel, launched a multibillion-dollar project in October aimed at reducing sulphur dioxide emissions by 45% in Norilsk, Russia's most polluted city, through a complex capture programme.
Australian pension major votes against Woodside chair, climate plan ahead of AGM Australian pension major votes against Woodside chair, climate plan ahead of AGM
Published: 22 Apr 24
Australia's third-largest pension fund has voted against the re-election of Woodside Energy chair Richard Goyder and the firm's climate action plan in a rebuke to the company's campaign to win shareholder support for its emissions plan. Aware Super, which manages A$170-billion, said in a statement on Monday that Woodside had not made sufficient progress on its climate transition action plan to justify support at the annual general meeting this Wednesday.
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