South African gold producer Aurous, which owns and operates the Blyvoor gold mine and the Gauta tailings retreatment project on Gauteng's West Rand, has announced plans to go public through a business combination with US-based Rigel Resource Acquisition Corp.  The transaction, which puts Aurous at a pre-money equity value of some R6.76-billion ($362-million), is expected [...]

Full ownership and execution of factors that are within management’s control are being elevated to the highest possible level by African Rainbow Minerals (ARM) CEO Phillip Tobias. ARM has sharpened its pencil in as far as things that are within its control are concerned and success is being achieved tackling costs, increasing volumes, and managing [...]

JSE-listed paper and plastics packaging business and recycler Mpact recorded a 3.6% year-on-year increase in revenue to R12.8-billion for the financial year ended December 31, 2023. Its underlying operating profit also increased to R1.21-billion, from R1.16-billion in the 2022 financial year. The operating profit increase was primarily as a result of a recovery in margins, and [...]

African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe said during Friday’s presentation of dividend-yielding results that his diversified mining company is committed to confronting climate change. “Our policies are part of what we call a just and a fair transition,” said Motsepe of the Johannesburg Stock Exchange-listed company, which is engaged in iron-ore, manganese, [...]

Trade, Industry and Competition Minister Ebrahim Patel and a high-level delegation recently completed a four-day working visit to Shanghai, Nanjing and Beijing, in China, during which they met with government officials, investors and a number of Chinese electric vehicle (EV) and battery manufacturers. China is the world’s leading producer of EVs and batteries and is [...]

US Department of State acting deputy assistant secretary in the Bureau of African Affairs David Gainer argued that Zimbabwe’s economic woes are not because of US sanctions, but because of the “gross mismanagement and corruption” of the Zimbabwean government and other actors for the past 20 years. On Monday, US President Joe Biden signed an [...]

Johannesburg- and London-listed paper and packaging giant Mondi has reached an agreement in principle on a proposed £5.1-billion merger with London-listed sustainable packaging company DS Smith. Under the terms of the proposed merger, Mondi shareholders would own 54% of the enlarged Mondi group and DS Smith shareholders 46%.

Diversified mining company African Rainbow Minerals (ARM) on Friday declared an interim dividend for the six months ended December 31, when ARM had net cash of R7.9-billion. The interim dividend of R6 a share is well down on the R14 a share declared in the corresponding period of last year.

Infrastructure Fund chief investment officer Mohale Rakgate has reported that various strategic projects identified through government, and in previous Sustainable Infrastructure Development Symposium South Africa (Sidssa) fora, are reaching an advanced stage, stating, “we have a pipeline of advanced projects to the value of R70-billion that are ready for market”. He was speaking at a [...]

Ports and logistics group Grindrod is set to invest big in its Matola drybulk terminal in Mozambique. Announcing Grindrod’s financial results for the year ended December 31 on Thursday, CEO Xolani Mbambo said the JSE-listed logistics group would spend the bulk of its R2.5-billion capital expenditure (capex) budget from 2024 to 2026 on increasing capacity [...]

South Africa’s current-account deficit widened more than expected in the fourth quarter of 2023, as dividend and interest payments to foreign investors resulted in the biggest outflow since the second quarter of 2022. The overall balance on the current account, the broadest measure of trade in goods and services, expanded to an annualized deficit of [...]