Onus largely on private sector to recover economy, says Deloitte

With the 2024/25 national Budget not having provided much relief to taxpayers, and the economy having a high debt to gross domestic product (GDP) ratio and slow growth rates, South Africans need to... 

AngloGold reports dip in full-year profit, but strong free cash flow generation and production

Diversified miner AngloGold Ashanti has reported a strong performance in the 2023 financial year, having achieved production guidance at 2.6-million ounces and $109-million of free cash flow. The... 

SAWEA appoints new chairperson

The South Africa Wind Energy Association (SAWEA) has elected three new board members – Lena Chirwa, Lance Blaine and Nontokozo Nkozi, who will serve as treasurer – for the 2024 financial year.... 

Xtract concludes Manica disposal

Aim-listed Xtract Resources has concluded the disposal of its entire interest in the Manica gold project, in Mozambique. The company in January agreed terms for the disposal of its 23% net profit... 

Treasury publishes much anticipated PPP legislative amendments for public comment

National Treasury has proposed key amendments to municipal legislation and National Treasury Regulation 16 (NTR 16) following a review of the Public-Private Partnerships (PPPs) Framework, which is... 

Ironveld receives financing interest from South African lender

Aim-listed iron-ore, vanadium and titanium miner Ironveld has received a nonbinding term sheet from a South Africa-based financial institution to provide financing for its mine in South Africa’s... 

Thungela warns of lower earnings on back of Ensham deal

JSE-listed coal miner Thungela Resources has informed shareholders that its earnings per share (EPS) for the year ended December 31 will be between R88 and R93 lower, at between R34 and R39 apiece,... 

Perseus posts 21% increase in interim profit

ASX- and TSX-listed Perseus Mining has posted an 18% year-on-year improvement in earnings before interest, taxes, depreciation and amortisation to $280-million, as well as a 21% increase in profit... 

Shipping company to help boost South African citrus exports

The Citrus Growers Association of Southern Africa (CGA) has welcomed the announcement that global liner shipping company Hapag-Lloyd will be helping to export citrus from the ports in Durban and... 

Heraeus gets behind sustainable Japanese ammonia developer

German technology group Heraeus has invested in a Japan-based startup called Tsubame BHB, which has been developing an efficient technology for decentralised ammonia production. Ammonia is an... 

Gold Fields posts higher full-year earnings, maintains dividend at R7.45

JSE- and NYSE-listed Gold Fields has declared a total dividend of R7.45 a share for the year ended December 31, with $703-million in attributable profit having been generated. The attributable... 

Glencore pleased with its performance against the backdrop of lower commodity, energy prices

Global mining company Glencore has recommended a $0.13 a share, or $1.6-billion, base cash distribution to shareholders for the 2023 financial year, comprising $1-billion from marketing cash flows... 

SU opens new avenues for localisation with high-tech micro-manufacturing machine

In a first-of-its-kind for Africa, the Department of Electrical and Electronic Engineering in the Faculty of Engineering at Stellenbosch University (SU) has acquired a micro-manufacturing machine... 

Vukile raises R1bn for acquisitive growth

JSE-listed Vukile Property Fund will issue R1-billion of new ordinary shares following a successful accelerated bookbuild, with the funds to be used to capitalise on a pipeline of growth... 

SA Canegrowers maintains sugar tax increase will destroy jobs

Ahead of Finance Minister Enoch Godongwana’s Budget Speech on February 21, industry body the South African Cane Growers’ Association (SA Canegrowers) has called on National Treasury to prioritise... 

Tsodilo confirms subsidiary can proceed with PEA in Botswana following litigation

TSX-V-listed Tsodilo Resources has confirmed that its subsidiary Gcwihaba Resources can proceed with concluding a preliminary economic assessment (PEA) on a prospecting licence, in Botswana,... 

HotBot geyser devices deliver energy savings, lower power surges to grid

Since launching its HotBot devices for smart geyser management in 2020, energy solutions developer Plentify has recorded considerable energy savings across its user base, as well as lower demand... 

Gem Diamonds recovers third diamond greater than 100 ct this year

London-listed Gem Diamonds has recovered a high-quality 113 ct white Type II diamond from the Letšeng mine, in Lesotho. This follows recoveries of a high-quality 295 ct white Type II diamond and a... 

Altona diversifies into other critical materials

While London-listed Altona Rare Earths advances its Monte Muambe rare earths project, in Mozambique, the company has also decided to pursue a balanced portfolio of critical raw materials projects... 

Consultancy laments R10bn/y deficit in exploration investment against govt target

Despite the South African government having set a target to attract 5% of global exploration spend within five years from 2019, the country attracted just 0.8% of global exploration spend in 2022... 

Aveng switches reporting currency to Australian dollar, expects increase in interim earnings

JSE-listed construction group Aveng has elected to change its reporting currency from the rand to the Australian dollar, effective from the six months ended December 31, 2023. With Aveng having... 

SPR commits to paying full $12.5m owed to Bushveld by end-Feb

Aim-listed vanadium producer Bushveld Minerals has recieved an additional R76-million, or $4-million, from Southern Point Resources (SPR) in respect of a subscription agreement; however, SPR... 

Amplats attains IRMA standard for three platinum mines in Southern Africa

Platinum group metals (PGMs) miner Anglo American Platinum (Amplats) has passed the audit for Initiative for Responsible Mining Assurance’s (IRMA’s) comprehensive mining standard for two of its... 

New Gautrain CEO starts steering strategic expansions

Gautrain Management Agency CEO Tshepo Kgobe has assumed his role as of February 1, following the company’s announcement to this effect in September last year. He previously served as COO of... 

Ariana mulls further involvement in Zim project following due diligence drilling

Aim-listed Ariana Resources has completed 1 222 m of diamond drilling for due diligence purposes on the Dokwe gold project, in Zimbabwe. The company is targeting the Dokwe North and Dokwe Central... 

Sovereign brings seasoned ESG officer on board for Kasiya development

ASX- and Aim-listed titanium and graphite miner Sovereign Metals has appointed Marco Da Cunha as lead environmental, social and governance (ESG) officer. Da Cunha has almost 20 years’ experience in... 

MC Mining independent board committee advises against proposed Goldway takeover

JSE-, ASX- and Aim-listed MC Mining’s Independent Board Committee (IBC) has advised that shareholders should not accept a takeover offer from Goldway Capital Investment. Goldway in early February... 

De Beers’ innovative approach to safety ensures 10m fatality-free shifts at Venetia

Diamond miner De Beers’ Venetia mine, near Musina, Limpopo, has reached 10.2-million fatality-free shifts, which safety manager Gavin Anderson deems remarkable given the mine’s transition from... 

Cape Town Container Terminal achieves record refrigerated containers load

Transnet’s Cape Town Container Terminal has loaded a record 1 726 refrigerated containers on a single vessel, called the Santa Rita. The vessel, carrying fruit, is destined for Europe. 

Sibanye attains A- rating for water management, climate change disclosures

JSE- and NYSE-listed Sibanye-Stillwater has attained an A- rating for its water security and climate change disclosures by Carbon Disclosure Project (CDP) for the 2023 assessment period. CDP is a... 

Mintek acquires laser bed fusion 3D printer

National mineral research council Mintek has acquired a laser powder bed fusion three-dimensional (3D) printer, which positions the organisation as a unique player in the mineral processing and... 

M&R Cementation unveils mock-up underground mine training facility

Mining contractor Murray & Roberts (M&R) Cementation has unveiled its new mechanised mining mock-up facility, which serves to provide equipment operators and supervisors with a more realistic... 

Gold Fields to post lower production, HEPS for 2023

Ahead of publishing its full results for the year ended December 31 next week, JSE-listed Gold Fields has advised that it expects attributable gold production for the year to be 2.3-million ounces,... 

US grants $11m to environmental insurance efforts in Africa

African Risk Capacity (ARC) has entered into a landmark $11.7-million partnership with the US government to increase access to parametric insurance in Africa. This will help to safeguard food... 

Bearings International forms partnerships with manufacturers to drive targeted marketing

Bearings and power transmission supplier Bearings International (BI) has embarked on a new targeted marketing strategy that involves partnerships with major global manufacturers it distributes... 

PetroSA appoints new acting CEO

The State-owned Petroleum Oil and Gas Corporation of South Africa (PetroSA) has appointed acting COO Sesakho Magadla as acting group CEO effective immediately. This follows former acting CEO... 

Southern Palladium confirms 26-year mine life potential for Bengwenyama project

ASX- and JSE-listed Southern Palladium finds in a scoping study that the Bengwenyama platinum group metals (PGMs) project, in the Bushveld Complex of South Africa, has the potential for a 26-year... 

Harmony retains ‘A’ score for water management

Gold miner Harmony Gold has maintained its Carbon Disclosure Project (CDP) score of ‘A’ for its water management during the 2023 assessment period. CDP is a global nonprofit organisation that... 

Mavuso lauds business for pragmatic assistance despite govt failures

Despite the great difficulty that is involved with running a business in South Africa, the private sector has taken a very pragmatic approach to dealing with the challenges to the business... 

Bezant advances early works at Namibia project

In anticipation of being granted a mining licence, Bezant Resources continues with exploration on its 70%-owned Hope and Gorob copper/gold project in central Namibia. The company has also submitted...