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Boeing dramatically increases its sustainable aviation fuel purchases

Published: 17 Apr 24

American aerospace giant Boeing has announced that it is to buy 35.6-million litres of blended sustainable aviation fuel (SAF), for use by its US commercial operations this year. This is its biggest annual SAF purchase to date, and is more than 60% greater than the amount it bought last year. This will help reduce the company’s carbon emissions. “As our focus remains on safety and quality, sustainability continues to be a priority,” assured Boeing VP Environmental Sustainability Ryan Faucett. “[SAF] is essential to decarbonise aviation. About 20% of our fuel usage is a SAF blend, and we continue to increase our use of this fuel to encourage growth in the SAF industry. We are also working to make SAF more available and affordable to our commercial airline customers through collaboration, investment, research and policy development.”

South Africa inflation slows slightly more than expected in March

Published: 17 Apr 24

South Africa's headline consumer inflation fell to 5.3% year on year in March from 5.6% in February, statistics agency data showed on Wednesday. Analysts polled by Reuters had forecast that inflation would slow to 5.4% in annual terms. The South African Reserve Bank kept its main interest rate unchanged at 8.25% last month, saying its policy stance needed to remain restrictive to tackle higher inflation expectations. It expects headline inflation to reach the midpoint of its target range of 4.5% only near the end of 2025. SARB Governor Lesetja Kganyago told Reuters earlier in April that South African policymakers were in discussions to lower the bank's current inflation target range of between 3% and 6% to bring it more in line with peers. On a month-on-month basis, inflation was at 0.8% in March compared to 1.0% a month before, Statistics South Africa said.

McEwen to acquire Timberline Resources

Published: 17 Apr 24

NYSE- and TSX-listed McEwen Mining has announced the acquisition of TSX-V-listed Timberline Resources, a move that will bolster its presence in Nevada’s mining sector. Under the terms of the agreement, Timberline shareholders will receive 0.01 of a share of McEwen’s common stock for each share of Timberline’s stock.

Peabody eyes coking coal expansion at Aus mine

Published: 17 Apr 24

Coal miner Peabody is developing a 130-million-ton, 25-year-plus mine plan for the Centurion complex, in the Bowen basin of Queensland. The mine plan incorporates the newly acquired Wards Well deposit, which Peabody acquired from ASX-listed Stanmore Resources for $136-million in cash and a contingent royalty of up to $200-million.

MTN, Huawei launch joint technology innovation lab

Published: 17 Apr 24

Telecommunications giant MTN Group and information and communication technology group Huawei have jointly launched Technology Innovation Lab to accelerate digital transformation and sustainable development across Africa. The establishment of the lab at MTN’s headquarters in Roodepoort, marking a significant advancement in the parties’ ongoing collaboration across diverse digital fields, followed the signing of a Memorandum of Understanding in February.

Eskom says modest R9m RCA request not a signal of alignment with Nersa on calculations

Published: 17 Apr 24

The National Energy Regulator of South Africa (Nersa) has initiated consultations on Eskom’s latest Regulatory Clearing Account (RCA) application for the 2022/23 financial year, where Eskom is requesting R9-million, its lowest RCA application since the utility began making yearly submissions under the claw-back mechanism. Given that the amount is less than 2% of Eskom’s allowable revenue for the year, Nersa is not required to undertake public hearings. Nevertheless, a consultation document has been published, with virtual hearings scheduled for August 2 and 4 and a decision expected by December 2.

Namibia sees final investment decision on oil find by end 2024

Published: 17 Apr 24

Namibia will invest a big chunk of any revenue it gets from a potentially massive oil discovery into a sovereign wealth fund, and expects to learn if the find is commercially viable later this year. “We understand that the quantities are large but we still have to test the commercial viability of this oil,” Finance Minister Ipumbu Shiimi told Bloomberg in an interview Tuesday in Washington. “We expect them to reach a final investment decision probably by the end of this year.”

Impact manager Acre raises $100m for African climate infrastructure

Published: 17 Apr 24

Two former BNP Paribas bankers have raised almost $100-million for a new fund which aims to unlock billions of dollars of funding for climate-aligned infrastructure projects in Africa. Acre Impact Capital, a private-debt impact investment manager, is looking to address the estimated $100-billion annual infrastructure financing gap on the continent by providing a portion of the unsecured funding for export finance projects.

De Beers says third cycle sales higher than historical levels, but lags behind last year

Published: 17 Apr 24

Diamond miner De Beers says it generated about $445-million in revenue from its third sales cycle for this year. The figure represents the expected sales value from the company’s latest global sightholder sales and auctions and remains subject to adjustment.

Alpha HPA and Renascor score A$585m in loans for critical minerals projects

Published: 17 Apr 24

Australian Prime Minister Anthony Albanese on Wednesday announced the federal government’s support for two critical minerals projects in Queensland and South Australia, a move aimed at fostering local manufacturing and creating jobs. Alpha HPA is set to receive A$400-million in new loans to establish Australia’s first high-purity alumina processing facility in the key economic hub of Gladstone. Concurrently, Renascor Resources is set to benefit from a A$185-million loan to propel its Siviour graphite concentrator facility in the Eyre Peninsula.