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Jubilee achieves record full-year PGM production

By: Donna Slater     10th November 2020 Aim- and AltX-listed metals processing company Jubilee Metals Group’s total revenue for the financial year ended June 30 increased by 132%, to R1.1-billion. The company, which has chrome and platinum group metals (PGM) operations in South Africa and a lead, zinc and vanadium project in Zambia,... 

KZN govt reaches out to Engen amid its oil refinery considerations

By: Marleny Arnoldi     9th October 2020 KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Nomusa Dube-Ncube has tasked the Trade & Investment Council KwaZulu-Natal (TIKZN) to look into the matter of the Engen Oil Refinery potentially closing its doors in a few years’ time. Engen confirms in a statement that it... 

LBMA releases first-ever responsible sourcing report

By: Donna Slater     2nd October 2020 The London Bullion Market Association (LBMA) has released its first Responsible Sourcing Report, which lays the benchmark for future trends analysis and drawing insight into the gold and silver sourcing and refining industry. LBMA chairperson Paul Fisher notes that the organisation compiled the... 

Ghana wants to invest gold royalty IPO proceeds in similar funds

By: Reuters     8th September 2020 Ghana plans to use part of the proceeds from an initial public offering (IPO) in a gold royalty fund to invest in similar entities. Africa’s biggest gold producer wants to use about 20% of the $500 million it seeks to raise through the IPO later this year to buy stakes in other royalty... 

Greenpeace condemns exploitation of yet another fossil fuel in South Africa  

By: Marleny Arnoldi     19th August 2020 Commenting on the arrival of Total’s oil and gas drill rig DeepSea Stavanger in Cape Town on August 12, environmental organisation Greenpeace Africa says the Department of Mineral Resources and Energy “needs to get its story straight”. “The claim is that the drilling aims to diversify South... 

Norsk reduces Alunorte capacity on pipeline maintenance

By: Mariaan Webb     19th August 2020 Production at the Alunorte alumina refinery will be reduced to between 35% and 45% of its capacity, while aluminium producer Norsk Hydro completes maintenance work on a pipeline that transports bauxite to the refinery. Maintenance had to be brought forward after sections of the pipeline from the... 

Six months set aside for merger of CEF’s oil and gas subsidiaries into ‘Newco’ 

By: Terence Creamer     18th August 2020 The process of merging the State-owned entities of PetroSA, Igas and the Strategic Fuel Fund (SFF) into an “integrated national petroleum company” will formally begin on September 1, with six months having been set aside for the creation of a Newco that is “commercially viable”. All three... 

Trevisiol to lead First Cobalt refinery project

By: Creamer Media Reporter      17th August 2020 TSX-V-listed First Cobalt has appointed Mark Trevisiol as VP, project development as the company prepares for the construction and commissioning of its refinery in Ontario, Canada. Trevisiol, who spent more than 20 years with Glencore predecessor companies Falconbridge and Xstrata Nickel, will... 

Tongaat reports ‘improved results’ despite weak economic growth, financial mismanagement blow

By: Simone Liedtke     14th August 2020 Sugar manufacturer Tongaat Hulett on August 14 reported “improved results” for the financial year ended March 31, during which the group’s headline earnings per share (EPS) improved by 111% to 90c from a loss of 823c in the previous year. The company attributes the improvement to the steps taken... 

Tongaat Hulett turnaround strategy pays off in FY20 results

By: Creamer Media Reporter      14th August 2020 Tongaat Hulett today released its results for the year to end March 2020, which showed the group had posted an operating profit of R3.3 billion against R551 million the previous year. If the Zimbabwe operations are excluded, operating profit improved by just over R1 billion, increasing to R375... 

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