The development bank founded by the so-called Brics countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending. The New Development Bank's (NDB) two bonds, a R1-billion ($52.3 million) five-year note and a R500-million three-year note, attracted 2.67-billion rand [...]

Chrome ore has been headlined by ferrochrome and chrome producer Merafe Resources as the star of the show in the six months to June 30. Production volumes of ferrochrome and chrome were lower in the six months to June 30 and production costs increased by double digits as power and logistics challenges persisted, Merafe CEO Zanele [...]

The green electrons that have begun to flow into the Free State mine shafts of Harmony Gold will reduce carbon dioxide emissions by 65 000 t in the first 12 months of operation, Mining Weekly can today report. The 30 MW solar photovoltaic plants are well on their way towards delivering 70 GWh of renewable [...]

JSE-listed packaging group Nampak has successfully concluded credit approved term sheets with revolving credit facility and term loan lenders and US private placement noteholders for a favourable refinancing package, on terms and conditions which are acceptable to it given the prevailing circumstances. The revised debt structure will comprise core and noncore debt at Nampak Products [...]

As telecommunications giant MTN continues implementing its Ambition 2025 strategy, it has entered into commercial agreements with Mastercard to support the acceleration and growth of the fintech business’s payments and remittance services. MTN and Mastercard signed a memorandum of understanding for a minority investment by Mastercard into Group Fintech based on a total enterprise valuation [...]

Construction group Concor this month reached the milestone of completing 800 out of a planned 4 000 homes in its R3-billion Conradie Park development in Cape Town. The development completed its first phase with the occupation of the Greenmarket complex comprising 432 units, in January, last year. 

JSE-listed energy and chemicals multinational Sasol says it expects to report a 2% to 16% year-on-year decrease in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to between R60.6-billion and R70.6-billion for the financial year ended June 30. In a trading statement ahead of the August 23 publication of its results, the company says [...]

The Transnet National Ports Authority (TNPA) has released details of the companies participating in the three consortia shortlisted to participate in an upcoming bidding process to design, fund and construct a greenfield deep-water port at Boegoebaai in the Northern Cape, as well as rail infrastructure linking the port to mines in the province. The three [...]

Independent international engineering and consulting firm ILF Consulting Engineers (ILF) has entered into a partnership agreement with Hyphen Hydrogen Energy, which is preparing to build a $10-billion green hydrogen project in southern Namibia. The project is being developed in the Tsau // Khaeb National Park, near Lüderitz, and could produce 350 000 t/y of green [...]

Johannesburg will get no special treatment from Eskom when it hosts a major Brics summit later this month, Electricity Minister Kgosientsho Ramokgopa has said.  The 15th Brics summit will take place at the Sandton Convention Centre in Johannesburg between 22 and 24 August. The summit will be attended in person by the leaders of Brazil, India [...]

Government reports that Eskom has spent R9.2-billion on diesel since the start of the State-owned utility’s financial year on April 1, which it claims to be marginally below an initial budget for the period of R9.7-billion. The Presidency’s Rudi Dicks provided the figure during a regular weekly update on the implementation of the Energy Action [...]

The water-mining interdependence, or nexus, poses several operational challenges to mining companies, including physical, reputational and regulatory-related risks and, as water-related risks continue to rise in the mining industry, it will become increasingly essential for companies to implement water risk management strategies and disclose water-related data. Water is a fundamental input for the mining sector, [...]