With skills having been identified as a key cross-cutting requirement for the Just Energy Transition Implementation Plan (JET-IP), the National Business Initiative (NBI), together with the Presidency’s JET project management unit (JET PMU) and Boston Consulting Group, have launched the JET Skilling for Employment Programme (JET SEP). South Africa has an opportunity to unlock 20% more of its current gross domestic product through green initiatives, which will need between 150 000 and 200 000 direct jobs by 2025, and between 350 000 and 400 000 jobs by 2050, related to solar photovoltaic, wind and battery storage technology installations, NBI CEO and JET SEP steering committee member Shameela Soobramoney pointed out during an April 29 briefing.
Clean energy critical minerals can transform sub-Saharan Africa – IMF
Sub-Saharan Africa holds an estimated 30% of the world’s volume of proven critical mineral reserves and managing their use properly as part of the global transition to clean energy has the potential to transform the region, the International Monetary Fund (IMF) states in its ‘Regional Economic Outlook’ report. The global transition to clean energy is set to further heighten demand for critical minerals. Between 2022 and 2050, demand for nickel will double, cobalt triple and lithium rise ten-fold, according to the International Energy Agency.
As BHP weighs firm bid for Anglo, investors fret over cherry-picking assets
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African subsidiaries. The world’s No. 1 miner is weighing up its next move after its initial $39-billion takeover proposal for smaller rival Anglo was rejected last week. The proposed premium was 31% on Anglo’s implied value.
Implats platinum group metals output up amid robust demand but lacklustre pricing
Platinum group metals (PGMs) mining and marketing company Implats on Tuesday reported higher production in a period characterised by robust demand but lacklustre PGM prices. “Despite continued macroeconomic and geopolitical uncertainty, demand from our contractual customers remains robust, with elevated additional volumes requested via spot sales during the third quarter.
Glencore’s Rustenburg ferrochrome smelter remains idled
Pending an improved price and cost environment, Glencore said in its first-quarter 2024 production report on Tuesday that its Rustenburg ferrochrome smelter in South Africa’s North West province would remain idled. The London- and Johannesburg-listed diversified mining and marketing company reported 26% lower attributable first quarter ferrochrome production of 297 000 t amid the European benchmark ferrochrome price for the second quarter of this year settled at $1.52/lb, 5.6% up on the first three months of 2024.
Booming Harmony ups full-year output and grades; lowers cost and capital guidance
Execution and preparatory work on key gold projects are on track in South Africa, and early works on the copper project in Australia are to commence, Harmony Gold reported on Tuesday. In South Africa, the Moab Khotsong gold mine extension and the Mine Waste Solutions development are on track, along with preparatory work being under way at Mponeng; in Australia, early works are ready to commence at the Eva copper project.
Gold Fields CFO takes early retirement
Gold Fields long-serving CFO Paul Schmidt, who is also an executive director of the Johannesburg Stock Exchange-listed gold mining company, is to proceed on early retirement, the company stated in a stock exchange announcement on Tuesday. Although his stepdown is effective from April 30, Schmidt will, remain in Gold Fields’ employ until June 30.
Central banks, record first-quarter over-the-counter purchases support gold demand
Continued exchange-traded fund (ETF) outflows drove gold demand, excluding over-the-counter (OTC) purchases, down by 5% year-on-year in the first quarter of this year to 1 102 t.
However, including sizeable OTC purchases by investors, total gold demand increased by 3% year-on-year to 1 238 t, which the World Gold Council (WGC) says is the strongest first quarter for gold demand since 2016.
Booming Harmony ups full-year output and grades; lowers cost and capital guidance
Execution and preparatory work on key gold projects are on track in South Africa, and early works on the copper project in Australia are to commence, Harmony Gold reported on Tuesday. In South Africa, the Moab Khotsong gold mine extension and the Mine Waste Solutions development are on track, along with preparatory work being under way at Mponeng; in Australia, early works are ready to commence at the Eva copper project.
Clean energy critical minerals can transform sub-Saharan Africa – IMF
Sub-Saharan Africa holds an estimated 30% of the world’s volume of proven critical mineral reserves and managing their use properly as part of the global transition to clean energy has the potential to transform the region, the International Monetary Fund (IMF) states in its ‘Regional Economic Outlook’ report. The global transition to clean energy is set to further heighten demand for critical minerals. Between 2022 and 2050, demand for nickel will double, cobalt triple and lithium rise ten-fold, according to the International Energy Agency.