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.
Anglo American takeover price needs to surpass £30 a share, survey shows
A takeover of Anglo American would need to be pitched at more than £30 ($37.6) a share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39-billion takeover proposal, a sign traders are also expecting a higher bid. The premium has increased since Bloomberg News reported over the weekend that BHP is considering making an improved proposal.
MC Mining’s Uitkomst Colliery increases quarterly output following turnaround plan
Run-of-mine (RoM) coal production at MC Mining’s Uitkomst steelmaking and thermal coal mine, in South Africa, increased by 14% year-on-year to 115 909 t for the quarter ended March 31 – the third quarter of its 2024 financial year. ASX-, Aim- and JSE-listed MC Mining, which is being bought out by Goldway Capital Investment, reports that the mine sold 75 590 t of high-grade coal during the quarter.
Sandfire announces maiden resource for new Botswana discovery
Australia-headquartered Sandfire Resources has unveiled potential for new copper and silver discovery in Botswana, with the announcement of a maiden resource estimate for the A1 deposit, about 20 km from the Motheo copper mine, in Botswana. The company’s third-quarter results unveiled a maiden inferred resource estimate of 5.6-million tonnes at 1.3% copper and 10 g/t silver for the A1 deposit.
Critical minerals, food crops at risk of climate disruption by 2050, report shows
More than 70% of critical minerals needed for the transition to net zero emissions will be at risk from climate disruption by 2050, professional services firm PwC says. The firm’s latest report, titled ‘Climate Risks to Nine Key Commodities Report’, shows that the production of copper, cobalt and lithium minerals crucial for the clean energy transition could face significant or higher drought risk by 2050 under a high-emissions scenario. Currently, these critical minerals are only at a 10% risk.
Gem recovers another greater-than-100-ct diamond
London-listed Gem Diamonds has recovered a 118.74 ct Type II white diamond recovered at its 70%-owned Letšeng mine, in Lesotho. This is the fifth diamond weighing more than 100 ct to be recovered at the mine this year.
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.
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.
Top Glencore shareholders favour keeping coal over spinoff
Several of Glencore’s largest shareholders believe that the company should retain its coal assets, according to people familiar with the matter, throwing a proposed spinoff into doubt.
Glencore, the world’s largest shipper of thermal coal with a market capitalization of about $73-billion, had said it intended to spin the business off within two years of closing a deal to buy the steelmaking coal assets of Teck Resources.