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Baltimore bridge collapse will likely block coal exports for weeks Baltimore bridge collapse will likely block coal exports for weeks
Published: 27 Mar 24
The collapse of a major Baltimore bridge is likely to shut down coal exports for as many as six weeks and block the transport of up to 2.5-million tons of coal, said Ernie Thrasher, CEO of Xcoal Energy & Resources. The US exported about 74-million tons of coal last year, with Baltimore the second-largest terminal for the commodity. Plugging up a major coal hub threatens to disrupt global energy supply chains that have finally begun to work out the kinks left over from pandemic slowdowns.
President Cyril Ramaphosa Indigenous resources must benefit South African communities, says Ramaphosa Has Video
Published: 26 Mar 24
With a global emphasis on sustainability and the effects of climate change becoming more apparent, President Cyril Ramaphosa described the sustainable use of biodiversity as the “pillar of rural economies” across South Africa. In a keynote address at the inaugural Biodiversity Economy and Investment Indaba, being held in Gauteng from March 25 to 27, he stated that sustainable biodiversity use supports job creation, while also contributing to urban economies through, for example, traditional medicine markets.
Outgoing EOH CEO Stephen van Coller EOH posts loss a share, as Operational Technologies division offsets Digital Enablement growth
Published: 26 Mar 24
JSE-listed information and communications technology services firm EOH reported a 2% year-on-year decrease in revenue to R3.1-billion for the six months ended January 31. Group operating profit also decreased, to R9-million, from R142-million in the six months ended January 31, 2023.
Coding US software company Powerfleet lists on JSE amid merger with MiX Telematics
Published: 26 Mar 24
Software-as-a-service (Saas) and artificial intelligence (AI) provider Powerfleet has attained a secondary listing on the JSE amid its merger with fleet and mobile asset management solution company MiX Telematics. Powerfleet has its primary listing on Nasdaq and its headquarters in Woodcliff Lake, New Jersey, but is seeking to harness the capital markets in South Africa to propel its growth and expanding global footprint.
Master Drilling CEO Danie Pretorius. Mechanical cutting is going to be key for mining going forward – Master Drilling Has Video
Published: 26 Mar 24
Mechanical cutting, in which huge progress is being made, is going to be key for the mining industry going forward, Master Drilling CEO Danie Pretorius emphasised on Tuesday, when his Johannesburg Stock Exchange-listed company presented a dividend-yielding set of 2023 full-year results that included the best ever safety performance and the biggest ever order book. “The industry can benefit big time from what we've already achieved in the field of mechanical cutting,” Pretorius highlighted in a Zoom interview with Mining Weekly while reporting record-high revenue of $242.8-million and an order book that topped the $288-million mark. (Also watch attached Creamer Media video.)
Wescoal coal mining operation Salungano expects to widen headline loss to at least 50.6c
Published: 26 Mar 24
After having multiple subsidiaries experience financial difficulty in recent years, with some having entered into business rescue in recent months, JSE-listed Salungano Group expects to report a headline loss a share of between 50.65c and 57.65c for the year ended March 31, 2023. This compares with headline earnings a share of 6.13c reported in the prior financial year.
Oil and gas rig Enviro groups approach High Court over TotalEnergies Cape coast drilling plans
Published: 26 Mar 24
Environmental organisations The Green Connection (TGC) and Natural Justice have submitted an application in the High Court against the environmental authorisation granted to TotalEnergies Exploration and Production South Africa (Teepsa) for exploratory drilling in Blocks 5, 6 and 7 on the Cape Town and Cape Agulhas coast. The respondents include Mineral Resources and Energy Minister Gwede Mantashe; the director-general of the Department of Mineral Resources and Energy (DMRE), who granted the environmental authorisation; and Forestry, Fisheries and the Environment Minister Barbara Creecy, who dismissed appeals by various people and organisation against this decision.
Civil Confidence Index increases in first quarter, but business constraints persist
Published: 26 Mar 24
After registering a level of 41 in the fourth quarter of 2023, the FNB/Bureau for Economic Research (BER) Civil Confidence Index increased to 47 in the first quarter of this year, its best level since the third quarter of 2016. The current reading means that almost 50% of respondents are satisfied with prevailing business conditions.
Image of Alan Winde W Cape Premier’s department allocates over R100m to fix energy crisis
Published: 26 Mar 24
Western Cape Premier Alan Winde announced on Tuesday that over the current Medium Term Expenditure Framework, the Department of the Premier is ploughing R103.4-million into a response to the energy crisis in the province. Winde was delivering the 2024 Premier budget vote, where he noted that the Western Cape and the country were still plagued by the energy crisis.
Solar panels Solar PV body questions technology costs and build limits in draft IRP
Published: 26 Mar 24
The South African Photovoltaic Industry Association (SAPVIA) questions both the cost assumptions used for the technology in the draft Integrated Resource Plan 2023 (IRP 2023), as well as the 900 MW yearly build limit placed on distributed solar in its formal submission to the department. SAPVIA’s response, which was submitted ahead of the March 23 deadline for public comments, states that the technology cost assumptions for solar PV have been inaccurately estimated for Horizon 1 to 2030 (The draff IRP 2023 also includes Horizon 2 from 2030 to 2050).
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