IAEA expert team in Uganda to support country’s uranium production plans

A specialist expert mission of the International Atomic Energy Agency (IAEA) is currently in Uganda to undertake a review connected with the East African country’s nuclear energy ambitions, specialist news agency World Nuclear News reports. Uganda plans to construct 24 000 MWe of nuclear energy capacity, and has selected Russian and South Korean companies to each [...]

Famous brands reports bump in revenue, while profits decline for 2024 financial year

Branded food services franchisor Famous Brands has reported an 8% increase in revenue to R8-billion for the financial year ended February 29, although a 6% decrease in profit to R812-million and a 1.5% profit margin contraction from 11.6% to 10.1% dampened results. Despite the group’s carefully managed cost base, the operating profit margins were negatively [...]

Altron posts strong continuing operations growth

JSE-listed Altron on Monday reported strong results across its continuing operations; however, noncash adjustments in its discontinued operations weighed on the company’s overall results for the year ended February 29, 2024. The company reported earnings before interest, tax, depreciation and amortisation (Ebitda), including Altron’s ATM Business and discontinued operations, of R985-million, a 6% decrease on [...]

Minerals Council, Geoscience, IDC going all out to boost South African exploration

A collective effort was apparent on Friday when Minerals Council South Africa, the Council for Geoscience and the Industrial Development (IDC) spoke on the same platform to promote a return to growth in the shrinking South African mining industry. Minerals Council South Africa CEO Mzila Mthenjane, Council for Geoscience CEO Mosa Mabuza, Junior Exploration & [...]

BevCo acquisition expected to drive competition in the local market

New Delhi-based multinational Varun Beverages says its acquisition of South African entity BevCo and its subsidiaries, valued at close to R3-billion, is set to expand its African footprint and bring global expertise to a market characterised by growing consumer sophistication and demand for variety.  BevCo is a bottler of all PepsiCo branded non-alcoholic beverages in [...]

Today’s well-supplied market for critical minerals ‘may not be a good guide for future’

A new International Energy Agency (IEA) report describes the sharp decline in critical mineral prices over the past year as a double-edged sword, cautioning that, while it has been a boon for clean energy deployment and affordability, it is a bane for critical mineral investment and diversification. The ‘Global Critical Minerals Outlook 2024’ highlights that, [...]

Afrimat delivers strong full-year results, continuing growth

During its financial year to February 29, midtier mining and materials company Afrimat invested considerably in projects that are expected to yield fruitful returns and further strengthen diversity and competitive advantage, group CEO Andries van Heerden said. One such project was the Nkomati anthracite mine, which he said delivered a healthy return.

Concor’s Msikaba bridge progresses to highly technical phases

Construction at the Msikaba Bridge on the N2 in the Eastern Cape is set to move up a gear this year, with a number of challenging technical activities to be tackled. According to contractor Concor, these include post-tensioning the anchor blocks, installing pylon inserts and building the ladder deck.

Alterra-led consortium to acquire majority stake in Chill Beverages

A consortium led by private equity firm Alterra Capital Partners and including broad-based investment holding company the Mineworkers Investment Company (MIC) and independent private equity house Admaius Capital Partners, will acquire a majority stake in beverage company Chill Beverages from Old Mutual Private Equity (OMPE). This acquisition marks the first investment by Alterra’s Africa Accelerator [...]

$2.2bn pledged to support clean-cooking access in Africa

Pledges worth $2.2-billion to support clean-cooking access in Africa were made at a summit in France on Tuesday, convened by the International Energy Agency (IEA). It is estimated that more than one-billion people in Africa currently lack access to clean-cooking solutions and instead cook over open fires and basic stoves, using charcoal, wood, agricultural waste, [...]

Octodec grows interim retail income despite challenging conditions

JSE-listed real estate investment trust Octodec Investments achieved income growth of 3.1% for the six months ended February 29, largely driven by higher rentals in its residential portfolio. Rental income for the period was just over R1-billion, compared with R974.2-million in the first half of the 2023 financial year.

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