Kogi Iron receives funding for Nigerian project

ASX-listed Kogi Iron has received $1-billion in  funding from European funds management company Torridon Investments Research to develop its Agbaja cast steel project, in Nigeria. Torridon released an investment research report on June 10, signalling that it considers the Kogi project to be a four-star investment-grade project with a positive outlook, and recommends that investors [...]

Covid death toll on mines rises to 21, positive cases at 3 119

The Covid-19 death toll in the mining industry has risen to 21, Minerals Council South Africa recorded on its website on Tuesday, with the number of Covid-positive cases totalling 3 119. Platinum mining, which employs the most people, continues to have the largest number of Covid deaths so far at 10, followed by gold mining with [...]

Gauteng Covid-19 visualisation platform enables monitoring, prediction

A visual analytics tool allows Gauteng Government users to visualise prediction models provided by the University of the Witwatersrand (Wits) to see predicted active Covid-19 cases, as well as predicted bed availability over time. This can help determine where to focus resources ahead of when they are needed to ensure hospitals are able to cope [...]

Tongaat’s starch sale receives competition approval, but MAC dispute still unresolved

The Competition Tribunal has approved, without conditions, the disposal of JSE-listed Tongaat Hulett’s starch business to fellow-listed Barloworld. However, the transaction still awaits approval from the competition authorities in Indonesia, while a third-party investigation into a material adverse change (MAC) in the sale and purchase agreement between Tongaat and Barloworld is yet to be resolved.

South African banks approve more than R30.6bn in Covid-19 relief

Local banks have so far approved more than R30.6-billion in relief to individuals and businesses affected by the Covid-19 pandemic and the national lockdown imposed in response, the Banking Association South Africa said on Tuesday. In addition, over R10.6-billion has been extended to distressed businesses under a Covid-19 loan guarantee scheme.

Omnia more than halves debt as stabilisation plan is concluded

JSE-listed diversified chemicals group Omnia Holdings reports that it achieved solid results for the financial year ended March 31, noting that this reflected the finalisation of the group’s stabilisation plan which included the successful recapitalisation of the business. Omnia’s balance sheet and debt profile were significantly strengthened in the year under review, following an oversubscribed [...]

EVs are starting to buoy the global metals market

The market gloom over the metals that will power the cars of the future is starting to lift. Supply overhangs and then the coronavirus pandemic had crushed short-term prospects for the minerals used to make rechargeable batteries. But new government commitments to green transport in China and Europe, as well as curtailments to mining and [...]

Africa’s biggest investment takes shape under Islamist threat

Dozens of soldiers clutching AK-47s and grenade launchers watch over roaring bulldozers on the white sand beach that meets a tropical turquoise sea. They’re guarding Africa’s biggest investment: a $23 billion project to export Mozambique’s natural gas from an area increasingly besieged by an Islamist insurgency. Companies led by Total SA will pump the gas [...]

Renergen believes Virginia project could relieve global helium shortage woes

Emerging natural gas and helium producer Renergen says its Virginia project, in South Africa’s Free State province, has the potential to be the answer to the world’s helium shortage woes following a recent helium prospective resources report, which confirms that the project has undiscovered gross recoverable helium volumes of more than 344-billion cubic feet (bcf). [...]

Minerals Council regrets delay of 2018 Mining Charter review

Minerals Council South Africa on Monday expressed regret that the finalisation of the review of the contested elements of the 2018 Mining Charter had been delayed following a judgement of the full bench of the High Court in Pretoria ordering that a number of other parties be joined to the action. These parties include various [...]

Displacement continuing at copper mine where openpit give way is imminent

Vertical and horizontal displacement is continuing at the Nchanga Open Pit Cut 2 in Chingola in Zambia, where geo-technical assessments point to an imminent collapse of a portion of the open pit – but the anticipated slough had not happened by late Sunday when Mining Weekly spoke by phone to Konkola Copper Mines CEO Chris [...]

AfDB concludes R2bn investment in Nedbank SDG-linked bonds

Finance institution, the African Development Bank (ADB) group, has concluded the investment of R2-billion in sustainable development goals-linked bonds (SDG bonds) issued by banking group Nedbank South Africa. This investment, which is listed on the green bonds segment of JSE, will strengthen Nedbank’s capital base and enable it to generate R12-billion in new loans and [...]