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Freeport warns copper export ban could cost Indonesia $2bn in lost revenue
Published: 28 Mar 24
Copper miner Freeport Indonesia has warned the Indonesian government that banning exports of copper concentrate in June could lead to a loss of $2-billion in revenues for Jakarta, a company official said on Thursday. Indonesia's export ban takes effect from June in an effort to force miners to invest in domestic smelting facilities, thus adding value to their products, boosting earnings from exports.
Metair to tackle high debt, gauge Mutlu’s future  
Published: 27 Mar 24
Metair is still very much open for business and the group is able to accommodate new clients should they need automotive components or energy solutions, says new CEO Paul O’Flaherty. O’Flaherty, now two months into the job after former CEO Sjoerd Douwenga bowed out owing to health reasons, comes to Metair with executive experience at companies such as Absa, Group Five, ArcelorMittal and Eskom.
Indonesian miner Amman asks for copper export ban delay
Published: 27 Mar 24
Indonesian copper miner PT Amman Mineral Internasional is in negotiations with the government to allow it to continue exporting copper concentrate beyond May 31, its chief executive said on Wednesday, while predicting a surge in output this year. Indonesia will impose an export ban on copper concentrate from June, a policy meant to force miners to invest in smelting facilities at home. The government wants miners to sell products with higher values to boost export earnings.
African development finance institution secures its biggest ever debt facility
Published: 26 Mar 24
African infrastructure funding specialist, the Africa Finance Corporation (AFC), announced on Tuesday that it had successfully closed its largest ever debt facility. This is a $1.16-billion syndicated loan, which had attracted new lenders from Asia, Europe and the Middle East. The AFC’s target had been $1-billion, but the facility had been upsized because it had been oversubscribed by 49%. The syndicated loan has a period of three years, and its success highlights the confidence of global investors in the AFC.
Transnet Freight Rail’s North Corridor achieves weekly record
Published: 26 Mar 24
Transnet Freight Rail’s (TFR’s) North Corridor accomplished the delivery of 1.41-million tonnes last week, marking the most substantial weekly performance in terms of volume for the current financial year. This includes the transport of 1.18-million tonnes of export coal to the Richards Bay Coal Terminal and the running of 11 chrome trains.
Richards Bay Multipurpose Terminal takes delivery of cargo handling equipment
Published: 26 Mar 24
The Richards Bay Multipurpose Terminal (MPT) has taken delivery of new cargo handling equipment, aiding the loading of export coal, magnetite, chrome and pig iron aboard calling Cape-sized vessels. The terminal is leasing 75 dumpers and 35 payloaders for 12 months – a temporary measure after an unsuccessful bidder challenged the awarding of a new contract in court last year.
FireFly secures port access on Green Bay’s doorstep
Published: 26 Mar 24
Australia-based FireFly Metals has signed a port access agreement for concentrate from its Green Bay copper and gold project, in Newfoundland, Canada. The ASX-listed company, which on Tuesday also entered a trading halt pending a capital raise announcement, signed a port access agreement with Maritime Resources, under which it can export up to one-million-tonne a year from the Pine Cove deep-water port.
First-quarter agriculture sentiment largely influenced by drought, public infrastructure deterioration
Published: 25 Mar 24
The Agricultural Business Chamber (Agbiz) and Industrial Development Corporation’s Agribusiness Confidence Index (ACI) has remained unchanged in the first quarter of the year at a level of 40. This followed a deterioration of ten points to 40 in the fourth quarter of last year.
CGA announces new chairperson
Published: 25 Mar 24
Industry body the Citrus Growers’ Association of Southern Africa (CGA) has appointed Gerrit van der Merwe chairperson for the next two-year term. Outgoing chairperson Hannes de Waal will now become one of two vice-chairpersons, as is normal in the board’s leadership rotational structure. De Waal’s fellow vice-chairperson will be Jan-Louis Pretorius.
Goldplat remains profitable despite South African headwinds
Published: 25 Mar 24
Aim-listed Goldplat, with gold recovery operations in South Africa and Ghana, continued to achieve profitable results for the six months ended December 31, 2023, despite some of the difficult circumstances experienced in South Africa, CEO Werner Klingenberg says in unaudited interim results statement. The company reported a strong operating profit of £2.97-million for the period under review, compared with an operating profit of £2.81-million reported for the six months ended December 31, 2022.
 
 
 

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