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ICON Group successfully preserves century old building in Johannesburg CBD, despite demolitions and excavations ongoing

By: Creamer Media Reporter      Updated 4 hours ago The ICON Group is underway with bulk earthworks and demolition in the Johannesburg CBD for what will eventually become the new Title Deeds Office for the city. The project value for ICON’s scope of work amounts to approximately R20-million. The project began in October 2020 and is centred around... 

Pan African more than doubles cash, reduces debt 

By: Donna Slater     16th February 2021 Midtier gold producer Pan African Resources increased its net cash generated from operations by 178.2%, to $28.1-million in the six months ended December 31, 2020. The miner also managed to reduce its debt by 47.3%, implying a net debt to net adjusted earnings before interest, taxes,... 

R10bn Eskom-Nersa settlement opens way for 15.63% hike on April 1 

By: Terence Creamer     16th February 2021 The National Energy Regulator of South Africa (Nersa) and Eskom have reached an agreement to add R10-billion to Eskom’s allowable revenue in 2021/22, to be recovered through the tariff, pending the outcome of an appeal of a 2020 High Court ruling directing the regulator to immediately add back... 

Tsodilo concludes second tranche of private placement

By: Marleny Arnoldi     11th February 2021 TSX-listed Tsodilo Resources has closed the second and final tranche of its private placement financing for gross proceeds of $150 000. The company issued 300 000 shares at a price of C$0.50 apiece.  

New-vehicle sales drop by 14%; three years to recover from Covid-19, says Naamsa 

By: Irma Venter     1st February 2021 New-vehicle sales fell by 13.9% in January, to 34 784 units, compared with the same month last year. An estimated 28 716 units, or 82.6%, were dealer sales, with 11.4% going to the vehicle rental industry, 3.5% to government, and 2.5% of total sales to industry corporate fleets. 

Construction bodies unite into single alliance  

By: Irma Venter     21st January 2021 Twenty-nine of South Africa's professional, contractor, supplier and other bodies within the construction industry have united to form a single umbrella organisation, called the Construction Alliance South Africa (CASA). Industry stalwart John Matthews has been appointed as CASA chairperson. 

Osisko Development completes C$68.6m private placement offering

By: Donna Slater     8th January 2021 TSX-listed gold project developer Osisko Development has completed a previously announced nonbrokered private placement of 9.34-million units at a price of C$7.50 apiece for aggregate gross proceeds of about C$68.6-million. The proceeds will be used to further develop the Cariboo gold project,... 

Legal tug-of-war shutters one of SA's richest chrome mines

By: News24Wire      18th December 2020 A chrome mine in Limpopo, potentially one of the richest in South Africa, has sat idle while a series of arcane court battles ensue between local and Chinese business interests. A development agency tasked with bringing employment to the area has lost its stake in the mine, and some 1 200... 

Australian coal needed in China - WoodMac

By: Esmarie Iannucci     17th December 2020 Analysis by advisory firm Wood Mackenzie (WoodMac) has shown that there will be no winners in the coal war between Australia and China. Reports emerged earlier this week that National Development and Reform Commission had met with the ten major power companies over the weekend, and had granted... 

Otso raises $11m as it begins to move to production

By: Mariaan Webb     14th December 2020 TSX-V-listed Otso Gold on Monday announced that it had executed a subscription agreement with Brunswick Gold for a strategic investment of $11-million into the company. Brunswick is a limited liability company incorporated under the laws of Cyprus, acting at arm’s length to Otso, pursuant to... 

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