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Tourism Deputy Minister Fish Mahlalela 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.
AfDB president Dr Akinwumi Adesina 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 ...
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.
tailings dam Municipalities, mines share the risk of tailings failures – SRK
Published: 24 May 24
Municipalities share the risk of tailings dam failure with mines, consulting firm SRK Consulting has pointed out, noting that the latest global standards reiterate how municipalities must play an important role in the emergency response and recovery efforts after such incidents. Local government in South Africa has a legal responsibility for any disaster in its jurisdiction, imposed by the country’s Disaster Management Act and the Disaster Management Framework.
Aris Mining plans smaller-scale Soto Norte development, ups stake to 51%
Published: 24 May 24
Toronto- and New York-listed Aris Mining is set to increase its shareholding in the Soto Norte project, in Colombia, to a controlling interest of 51%. The company will acquire an addition31% joint venture (JV) interest in the copper/gold project in a share transaction. Aris will issue 15.75-million shares to Abu Dhabi-based investment group Mubadala, representing about 9.9% ownership, with a further six-million shares to be issued on receipt of an environmental licence. Aris also unveiled a new, smaller-scale development plan for Soto Norte, which is said to be one of the biggest undeveloped underground gold projects in South America.
Moroccan flag Emmerson pleased with innovative processing method to be used at Morocco project
Published: 24 May 24
Aim-listed potash development company Emmerson’s main priority at this time is obtaining environmental approval for the Khemisset project, in Morocco. The company advises that a scoping study published in February identifies a novel processing route for the project, called the Khemisset multimineral process, which reduces the site’s environmental impact.
Crime, corruption keep South Africa’s S&P rating in check
Published: 24 May 24
S&P Global Ratings said it is closely monitoring the outcome of South Africa’s elections next week and subsequent government policies to address issues from crime to energy supply that have deterred investment. “We have seen investors being a little bit more cautious this year because of the election uncertainty,” S&P’s Zahabia Gupta said in an interview. “Post-elections, more political and policy stability could lead to increased investment activity.”
Lundin links $2.55bn credit and loan facilities to ESG performance
Published: 24 May 24
Canadian base metals company Lundin Mining has amended terms of two credit facilities – a $1.75-billion revolving credit facility and a $800-million term loan – to implement a sustainability-linked loan structure. The sustainability-linked loan structure incentivises reduced greenhouse gas emissions and thriving communities, which focuses on community relations as a core element of a mining company’s social licence to operate.
Solar PV facilities made up 99 of the registrations, with total capacity of 499 MW and an investment cost of R9.9-billion Nersa confirms registration of 105 more generators as overall number rises to 1 415
Published: 24 May 24
The National Energy Regulator of South Africa (Nersa) reports that it registered a further 105 generation facilities during the period from January to March 2024, raising to 1 415 the number of facilities registered since the system was introduced in 2018. In a statement, Nersa said the newly registered facilities had a combined capacity of  788 MW and a total investment value of R18.4-billion, increasing the overall capacity of registered projects to 7 158 MW and the total investment value to R131-billion.
Hawsons Iron appoints new CEO
Published: 24 May 24
Iron-ore developer Hawsons Iron has appointed Tom Revy as CEO, replacing Bryan Granzien who is retiring. Revy has more than 35 years’ experience in the resources sector, having previously held senior roles at MIM Holdings, GRD Minproc and Worley Parson.
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