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Kairos banks first A$10m under Pilbara tenement sales agreement
Published: 05 Sep 24
Gold explorer Kairos Minerals has banked the first A$10-million under its A$20-million agreement to sell noncore Mt York ground to ASX-listed miner Pilbara Minerals.
Kairos sold six prospecting licences and the overlying mining lease application (ML45/1307) to Pilbara. The balance of A$10-million in Pilbara shares or cash will be received following the grant of M45/1207 application or another agreed tenure.
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Ironbark Zinc’s Greenland asset requires ‘fresh eyes and capital’
Published: 05 Sep 24
Australia-listed Ironbark Zinc (IBG) has initiated a strategic review of its Citronen asset, in Greenland, and is considering a range of options, including an outright project sale, majority sell-down to a new co-owner or spinout.
Citronen, which is a large greenfields project, has been a difficult asset to develop over the last several years of heightened macro-economic uncertainty and volatile markets.
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France's Orano selects Tennessee site to build uranium enrichment plant
Published: 04 Sep 24
France's state-owned nuclear fuel company Orano has selected Oak Ridge, Tennessee as a preferred site to build a multi-billion dollar US uranium enrichment plant, Tennessee and Orano officials said on Wednesday.
The move comes months after the administration of President Joe Biden signed legislation meant to eventually end dependence on Russia, the world's top supplier of enriched uranium. The law imposed a ban on imports of Russian enriched uranium and freed up to $2.7 billion in U.S. funding for domestic uranium projects.
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Eskom says it may apply for second Koeberg extension
Published: 04 Sep 24
Eskom has confirmed that it is likely to apply for a licence to operate the Koeberg nuclear power station, in the Western Cape, beyond the 20-year envelope that it has secured for Unit 1 and is optimistic of also securing for Unit 2. In a response to a question posed about the long-term future of the power station, chief nuclear officer Keith Featherstone told the Portfolio Committee on Electricity and Energy that it would make sense to seek a further extension to the two licences if the assets remained in a condition to continue operating for longer.
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IMF says South Africa needs ambitious fiscal consolidation
Published: 04 Sep 24
The International Monetary Fund said on Wednesday that South Africa needed to pursue ambitious fiscal consolidation to restore the sustainability of its public finances. "Durable expenditure-based consolidation of at least 3 percent of GDP over the next three years is required to place debt on a sustained downward path, while protecting vulnerable groups," the IMF said in a statement.
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Kamoa-Kakula achieves record level production in August
Published: 04 Sep 24
The Phase 1, 2 and 3 concentrators at TSX- and OTCQX-listed Ivanhoe Mines’ Kamoa-Kakula copper complex, in the Democratic Republic of Congo (DRC), achieved a combined monthly production record of 40 347 t of copper in concentrate and a combined monthly milling record of 1.1-million tonnes during August, the company announced on September 4. On August 31, the Phase 1, 2 and 3 concentrators produced a combined daily production record of 2 096 t of copper. This included 1 760 t of copper from the Phase 1 and 2 concentrators, which was also a record for the company.
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DMRE moving with pace on nuclear determination amid mounting technoeconomic questions
Published: 04 Sep 24
South Africa’s Department of Mineral Resources and Energy (DMRE) expects to finalise nuclear-procurement consultations in the coming two to three months before approaching the regulator for its concurrence with a new Ministerial determination for the procurement of 2 500 MW of new nuclear capacity. Electricity and Energy Minister Dr Kgosientsho Ramokgopa withdrew the Section 34 Ministerial determination he Gazetted in January ahead of a court hearing into whether the correct procedures had been followed prior to the National Energy Regulator of South Africa’s (Nersa’s) concurrence with the determination.
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South Africa's mining sector 'gearing for growth' as reforms yield results
Published: 04 Sep 24
Amid electricity and logistical constraints, as well as an increase in crime and corruption, the mining sector contributed only 6.3% to South Africa’s GDP in 2023, down from 7.3% in 2022, Minerals Council South Africa CEO Mzila Mthenjane noted in a presentation at the Africa Down Under conference, in Perth, Australia, on September 4. He said the Minerals Council was working with the South African government on the ambition of increasing economic growth to between 3% and 5% and enabling the creation of about 2.5-million jobs, thereby helping to arrest the current unemployment rate and increase investor confidence.
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South African, Angolan competition authorities sign MoU
Published: 04 Sep 24
The Competition Commission has signed a memorandum of understanding (MoU) with the Angola Competition Authority (ACA), establishing a general framework for bilateral communication and cooperation in the fields of competition law, policy and enforcement. The MoU, which was signed on September 4 on the sidelines of the eighteenth Annual Competition Law, Economics and Policy Conference currently taking place at the @Sandton Hotel, in Johannesburg, forms part of multilateral competition initiatives aimed at strengthening bilateral ties by enhancing technical cooperation and information sharing on competition laws and policies.
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Govt says economic growth is a clear indication that SA is on a solid path to recovery
Published: 04 Sep 24
Public information entity Government Communication and Information System said on Wednesday South Africa’s economic growth in the second quarter shows that the economy is on a solid path to recovery, highlighting government’s commitment to implementing policies to sustain and accelerate growth. Statistics South Africa released data recently indicating the country’s GDP increased by 0.4% in the second quarter of 2024, following 0.0% growth in the first quarter. On expenditure, real GDP rose by 0.5% in the second quarter, an improvement from the 0.1% decrease in the first quarter of 2024. Government attributed this to the “effectiveness of the measures that have been implemented to support recovery and growth”, also noting that a lack of loadshedding had played a crucial role in revitalising key sectors, such as electricity, gas, and water. The GCIS noted that household consumption was the largest positive contributor to overall growth, which it said demonstrated the renewed confidence and spending power of South African households.
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Loviisa nuclear power plant modernisation, Finland – update
Published: 06 Sep 24
Nuclear power plant project, Poland – update
Published: 06 Sep 24
Swedish Kriegers Flak offshore wind farm, Sweden – update
Published: 06 Sep 24
The global market is going through a very challenging time right now, African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe noted...
Competition Commission, NEF renew MoU
Published: 06 Sep 24
The National Empowerment Fund (NEF) and the Competition Commission have signed a memorandum of understanding (MoU) aimed at fostering collaboration...
WiMBIZ conference highlights opportunities, considerations for women in mining
Published: 06 Sep 24
Nonprofit organisation Women in Mining Business South Africa (WiMBIZ) held a one-day conference on September 5, to explore how women can leverage...
