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Nehawu has called a strike at the Dube TradePort at King Shaka International Airport
Published: 18 Apr 24
The Dube TradePort Corporation, an agency of the KwaZulu-Natal provincial government, has announced that 112 employees, members of the Nehawu trade union, have gone on strike. The workers work in the company’s Bargaining Unit. The corporation has created and operates the Dube TradePort special economic zone and air cargo complex at Durban’s King Shaka International Airport. Nehawu issued the notice to strike after what Dube TradePort described as a “prolonged” process of negotiation and arbitration.
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Green economy surge pushes 2023 silver industrial demand to new highs
Published: 18 Apr 24
Building upon the momentum of 2022’s surge in silver consumption for industrial applications, 2023 saw yet more record-breaking industrial demand, reaching 654.4-million ounces, fuelled by the expanding landscape of green economy initiatives. While there was a slight downturn in overall silver demand attributed to reduced interest from price-sensitive sectors such as physical investment, jewellery and silverware, the industrial demand segment demonstrated steadfast growth.
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Joint report on the main roadmaps for aviation to reach net-zero emissions released
Published: 18 Apr 24
The ‘Aviation Net Zero CO2 Transition Pathways Comparative Review’, which is a joint initiative of the International Air Transport Association (IATA – the global representative body for the airline industry), the Air Transportation Systems Laboratory of the University College London, the Air Transport Action Group, the International Council on Clean Transportation, and the Mission Possible Partnership, has been released. This compares the 14 main roadmaps for aviation’s transition to net-zero ...
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Solaris and Ecuador communities update agreement
Published: 18 Apr 24
Toronto-listed Solaris Resources and the Shuar communities of Warints and Yawi have signed an updated impact and benefits agreement (IBA), reflecting the evolving growth and development of the Warintza project, in Ecuador.
The updated IBA emphasises the importance of constructive dialogue and collaboration between the company and the local communities.
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Air Canada employees are suspects in Toronto airport gold heist
Published: 18 Apr 24
Police have named Air Canada employees among the suspects in the theft of 6 600 gold bars from a cargo facility at the country’s busiest airport, in what’s been dubbed Canada’s largest-ever gold heist.
Police in Peel Region, a Toronto suburb, identified nine individuals they believe were involved in the crime and have arrested five men and issued nationwide warrants for three others. The alleged driver of the five-ton truck that hauled away the huge shipment of gold and banknotes is in custody in the US, a police detective said.
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Jubilee achieves record third-quarter chrome output, while copper expansion advances
Published: 18 Apr 24
Aim- and ASX-listed Jubilee Metals has achieved record production levels at its South African chrome operations, both on monthly output for March and for the quarter ended March 31 – which is the third quarter of the company’s 2024 financial year.
Chrome output of 408 710 t in the quarter compares with the 381 114 t of chrome produced in the second quarter of the year.
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Orion shares placed on a trading halt ahead of April 22 announcement
Published: 18 Apr 24
JSE- and ASX-listed Orion Minerals has requested an immediate trading halt to be placed on its securities, pending the release of an announcement in relation to exploration results at its Okiep copper project in South Africa’s Northern Cape province. Orion said it expected to make an announcement to the market concerning this matter before the start of trade on April 22.
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Reserve bank to cut rates less than earlier thought in 2024 – poll
Published: 18 Apr 24
South Africa's central bank is now predicted to deliver only 50 basis points of interest rate cuts this year, less than earlier projected as inflation is seen taking slightly longer to return to the Reserve Bank's comfort zone, a Reuters poll found. A cut of 25 bps to 8.00% next quarter, either in July or September, is expected from the Reserve Bank, according to a survey carried out in the past week, compared with 50 bps predicted in a March poll. The repo rate will finish the year at 7.75% instead of the 7.50% predicted last month if the central bank delivers another cut in November as the latest poll predicts. "We now forecast a more drawn-out, shallower easing cycle in South Africa," wrote Razia Khan, head of macro research for the region at Standard Chartered. Although inflation will likely dip below the mid-point of the central bank's target band in the fourth quarter it may ease hesitantly, Khan added. There will be a temporary dip in inflation in the last quarter of 2024 before it quickens again early next year, the poll showed.
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Africa’s oldest oil-rich dictatorship has a succession problem
Published: 18 Apr 24
Two South African engineers working in Equatorial Guinea’s offshore oil fields were preparing to return home in February 2023 when they were arrested for cocaine trafficking and thrown in jail, where they remain. Both men, their families and their employer have declared their innocence. They were detained days after a South African court ordered the seizure of one of Equatorial Guinean vice-president Teodoro Nguema Obiang Mangue’s yachts. The two incidents are linked, said people familiar with the matter who declined to be identified due to the sensitivity of the situation. They described the arrests — the first involving foreigners in the country’s critical oil sector — as the latest example of the vice-president’s impulsive behavior, which threatens the long-term stability of the Central African state that has been ruled by his father for the past 45 years.
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Sun Silver launches IPO to develop Nevada silver deposit
Published: 18 Apr 24
New silver explorer and developer Silver Sun on Thursday announced the opening of an initial public offering (IPO) on the Australian bourse, bringing to market its silver and gold project in Nevada, US.
The company aims to raise between A$10-million and A$13-million in the IPO.
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Hydrogen 2024: Implementation crucial going forward
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Roads, Rail & Ports 2024: Inefficiencies reach new lows
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Africa Mining Projects in Progress 2024
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Iron-Ore 2023/24: Bracing for change
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Platinum Group Metals 2023: Crucial Element in the Energy Transition
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Automotive 2023: Navigating change
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HySHiFT sustainable aviation fuel project, South Africa – update
Published: 19 Apr 24
Natrium reactor demonstration project, US – update
Published: 19 Apr 24
Rooiwal Waste Water Works repair and upgrade, South Africa – update
Published: 19 Apr 24
A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.
Codelco eyeing more output, not competition with BHP, Chile's mining minister says
Published: 19 Apr 24
Chile's State-run copper miner Codelco must focus on boosting its production, but it has a global prestige that would not be tarnished if it cedes...
Will the Zimbabwe Gold, or ZiG, restore currency confidence?
Published: 19 Apr 24
The heightened sense of urgency within Zimbabwe’s government to act as the country’s currency crashed – losing 90% of its value since the beginning...
