Retail-focused real estate investment trust Hyprop has announced it will acquire Table Bay Mall, in Cape Town, for R1.6-billion. The company aims to increase its exposure to favourable geographies and thereby improve its portfolio trading performance.

All the critical minerals necessary for all renewable and battery energy technologies are found in Africa, highlighted consultancy and data company Rystad Energy senior partner and head of analysis Per Magnus Nysveen. He was addressing the Critical Minerals Africa conference, at the Cape Town International Convention Centre on Tuesday. Nysveen defined renewable energy as encompassing [...]

A diversified South African metals processing business that has expanded into Africa, on Tuesday announced that it had been awarded a copper slag project that will be executed in joint venture (JV) collaboration with a Southern African mining company. JSE AltX-listed and London Aim-quoted Jubilee Metals Group will develop the Mufulira slag project through JV [...]

The World Steel Association (worldsteel), in an update of its Short Range Outlook (SRO) for 2023 and 2024, forecasts that steel demand will grow by 1.8% this year to 1.81-billion tons after having contracted by 3.3% in 2022. Steel demand is forecast to increase by a further 1.9% in 2024 to 1.85-billion tonnes, worldsteel estimates.

The continued weakening of platinum group metal (PGM) prices and macroeconomics have resulted in the Karo Platinum Project timeline for commissioning being extended out by 12 months to June 2025, with the opportunity to accelerate the timeline as markets become more favourable. The Karo platinum project, an openpit PGM project under construction in Zimbabwe’s Great [...]

Financial services firm Nedbank has concluded a R2.1-billion Green Private Power Tier 2 Bond, listed on the sustainability segment of the JSE, with the proceeds to focus on notionally funding private renewable energy projects in South Africa. Private renewable energy power projects refer to commercial and utility-scale renewable energy projects with private corporate offtakers. These [...]

Egypt's Suez Canal Economic Zone has signed a deal worth $6.75-billion with China Energy for green ammonia and green hydrogen projects to be established in the Sokhna Industrial Zone, a cabinet statement said on Tuesday. It also signed deal with Hong Kong-listed United Energy Group to establish a potassium chloride production complex with an expected [...]

South Africa is set to briefly overtake Nigeria and Egypt as the continent’s largest economy next year, International Monetary Fund (IMF) forecasts show. The IMF’s World Economic Outlook envisions South Africa’s gross domestic product reaching $401-billion based on current prices in 2024, compared with Nigeria’s $395-billion and Egypt’s $358-billion. Africa’s most industrialised nation is expected [...]

Based on the current oil, international fuel and rand prices, the latest data from the Central Energy Fund shows that petrol prices could be cut by around R1.90 a litre in November, while diesel prices could be lowered by between 69c and 75c a litre. However, there are still more than two weeks to go [...]

The world over, green hydrogen is being recognised as the most effective route towards combating the climate crisis in the most holistic way possible, with Minerals Council South Africa highlighting the collaboration of South Africa’s leading platinum mining company with a local grey hydrogen producer and a car company with 30 global production site and [...]

The Eastern, Northern and Western Cape provinces have agreed to team up in a bid to position South Africa as a global hub for the production of green hydrogen and derivative products, as well as to produce the components required in the green hydrogen value chain, ahead of the finalisation of the long-awaited Green Hydrogen [...]

The National Treasury has confirmed that the collective debt owed to Eskom by the 28 municipalities approved for participation under the Eskom Municipal Debt Relief Support Programme represents R26.69-billion of the R58.5-billion owed to the utility as of the end of March. Eskom has confirmed that the arrears debt has since climbed to above R65-billion.