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Metair boasts resilience amid tough first-half market conditions

Published: 05 Sep 24

In an operational update to shareholders for the six months ended June 30, JSE-listed Metair Investments has said its business verticals demonstrated resilience despite the challenging operating and trading conditions. The company said on September 5 that it had successfully maintained a constant supply to customers during the six-month period.

Financial savings displacing loadshedding as main driver of residential solar market

Published: 05 Sep 24

The South African market drivers for residential, commercial and industrial solar PV and battery installations have started shifting towards cost savings from security of supply as loadshedding wanes, GoSolar CEO Andrew Middleton asserts. Although installations in 2024 are likely to be well below the 2.6 GW installed during the height of the country’s loadshedding crisis last year, the subscription home solar and battery company still expects about 1 GW of small-scale PV to be installed this year.

A SolarAfrica industrial solar PV installation, at the Sovereign Foods plant, in Brits, in the North West province

French green energy finance group has invested in South African solar energy company

Published: 05 Sep 24

France-based global sustainable investment and asset management group Mirova has announced that it is making its first investment in South Africa, a $15-million long-term debt financing arrangement with South African renewable energy development company and independent power producer SolarAfrica Energy. “We are very excited to enter the South African market and to support SolarAfrica, a major and well-respected player, in its ongoing development,” affirmed Mirova Investments deputy head Rim Azirar. “This investment is perfectly in line with our investment strategy dedicated to energy transition in emerging markets, using blended finance to help increase access to reliable and affordable energy in Africa.”

SACEEC announces New Products and Innovation Awards winners

Published: 05 Sep 24

The South African Capital Equipment Export Council (SACEEC) has announced the winners of its New Products and Innovation Awards competition at the Electra Mining Africa exhibition, at the Expo Centre in Nasrec, Johannesburg. The awards are given to both local and international exhibiting companies that have contributed excellence in innovation within their respective subsectors of the mining industry.

Airline safety the focus of a major global IATA conference to be held in Africa

Published: 05 Sep 24

The International Air Transport Association (IATA), which is the global representative body for the airline industry, has announced the theme for its 2024 World Safety and Operations Conference (WSOC). It is 'Embracing Innovation and Technology for Safe and Efficient Operations'. WSOC 2024 will take place in Marrakech, Morocco, with Royal Air Maroc as the host airline, and will run from October 1 to 3. “Airlines face common challenges with an operating environment that is growing more complex,” highlighted IATA director-general Willie Walsh. “At the same time, technological advances, including AI, are offering ever greater potential in support of safe and efficient operations.”

Stibnite project one step closer with draft RoD issued

Published: 05 Sep 24

The United States Forest Service (USFS) has completed the final environmental impact statement (EIS) for the Stibnite project, in Idaho, with a draft record of decision (RoD) authorising the gold and antimony project. The USFS will reportedly publish the EIS and RoD in the federal register on Friday. A final RoD is expected by the end of the year.

Harmony CEO Peter Steenkamp, who retires at year-end.

Mega gold producer, copper aspirant Harmony flags cost-offsetting silver, uranium value

Published: 05 Sep 24

Johannesburg Stock Exchange-listed Harmony, which has 74 years of mining experience in South Africa and two decades in Papua New Guinea (PNG), is not only a mega gold mining specialist with an emerging copper footprint, but on Thursday also flagged the cost-offsetting value of its silver and uranium production. While 96% of revenue is from gold, byproducts play a role in cost offsetting, with silver produced at Hidden Valley in PNG contributing 3% and uranium mined at Moab Khotsong in South Africa 1%.

Cape Town Mayco okays 7 ha land release for mixed-use development; must include affordable housing

Published: 05 Sep 24

Cape Town’s Mayoral Committee has greenlit the release of 7 ha of land for a mixed-use development in Rondebosch East, roughly 10 km from the city centre. The committee will now seek council approval to start with a public participation process for the proposed sale of the city-owned land.

Image of the last third-generation X3 produced at the BMW plant in Rosslyn

BMW SA ends production of third-generation X3, gears up for new model in October

Published: 05 Sep 24

BMW Group South Africa (BMW SA) has halted production of the third-generation X3 at its Rosslyn plant, in Pretoria, and will now gear up for production of the new-generation model. The last vehicle in the current series, which has been shipped to a customer in Germany, was produced at the end of August, with a total of 403 114 X3s rolling off the assembly line at the local plant over a seven-year period.

First Majestic to buy Gatos Silver for $970m

Published: 05 Sep 24

NYSE- and TSX-listed First Majestic on Thursday announced the actuation of Mexico-focused Gatos Silver for $970-million. Gatos is a silver-dominant producer with a 70% interest in the Los Gatos joint venture, which owns the producing Cerro Los Gatos underground mine in Chihuahua.