With market fundamentals providing pricing support in the medium- and longer-term, London-listed diamond mining and marketing company Petra Diamonds expects diamond prices to show modest recovery in the new year. The company expects current diamond market weakness to continue through to the end of the calendar year with some price volatility.
George promises wide consultation on 2025 decarbonisation pledge
Forestry, Fisheries and the Environment Minister Dr Dion George has promised “wide consultation” on South Africa’s next nationally determined contribution (NDC) decarbonisation pledge that will be lodged with the United Nations next year. Delivering his maiden Budget Vote, George stressed that South Africa remained a responsible global citizen and committed to the multilateral rules-based regime under the United Nations Framework Convention on Climate Change and its Paris Agreement.
Green ammonia ousting coal in power stations, R105bn hydrogen developer reports
Huge demand for green ammonia from power stations is being seen by the developer of South Africa’s R105-billion green hydrogen to green ammonia project in the Eastern Cape. But this new development in Europe and the Far East is not going to affect the South African coal industry yet, Hive Hydrogen GM Colin Loubser emphasised in a Zoom interview with Engineering News & Mining Weekly. (Also watch attached Creamer Media video.)
Zimbabwe State miner seeks $150m to boost gold output
Zimbabwe’s largest gold producer is negotiating with potential partners for a $150-million investment to boost production at its Shamva mine by 50%. Kuvimba Mining House, 65% owned by the State, has already undertaken feasibility study for a large-scale mine and processing plant, according to acting Chief Executive Officer Trevor Barnard.
Aura’s Tiris uranium project fully permitted for development, operation
ASX-listed Aura Energy has received the last outstanding material permit to allow the construction and operation of the Tiris uranium project from the Mauritanian government. The company says the authorisation to develop, mine and produce uranium oxide concentrate (UOC) was issued by the National Authority for Radiation Protection, Safety and Nuclear Security – L’Autorité Nationale de Radioprotection de Sûreté et de Sécurité Nucléaire (ARSN) – on July 12.
Cementation Americas awarded mine construction project in Latin America
Cementation Americas, a member of the Murray & Roberts Group, has been awarded a mine construction project with a major mining house in Latin America. The multiyear underground mine development and construction contract is valued at about $200-million.
Lucapa focuses on sampling near Cacuilo river following floods
Now that floodwaters have receded after a severe wet season in Angola, ASX-listed Lucapa Diamond Company says its immediate focus is on sampling kimberlites closer to the Cacuilo river, as these areas are more likely to be the major sources of the diamonds being found in the river’s alluvial deposits. The company says the L014 kimberlite, which largely sits beneath the Cacuilo river, remains a high priority, noting that construction of the road to access the L014 area has begun, along with auger drilling to better define the location of the best material for sampling.
IAB offers to buy remaining Bell Equipment shares, plans to delist the company
Investment holding company IAB, which is owned by representatives of the founding family and affiliates of Bell Equipment and holds 70.13% of the company’s issued shares, has offered to buy the remaining shares for R53 a share. This is a premium of 82.3% to the 30-day volume-weighted average traded price of Bell Equipment Shares on the JSE of R31.
Maersk tankers and competitors bet billions on ammonia fuel carriers
Some of the biggest names in shipping are betting billions of dollars on tankers to transport a type of ammonia that’s scarcely being produced today — wagering it will become integral to the industry’s decarbonisation drive. Firms including Maersk Tankers, two Greek shipping magnates and two top Japanese lines, have collectively ordered $16-billion of vessels, many of which will be able to move ammonia, according to researcher VesselsValue.
Carbon intensity of our economy has become unsustainable – Ramaphosa
The carbon intensity of our economy has become unsustainable, President Cyril Ramaphosa writes in his latest weekly newsletter, published ahead of his address to a climate finance symposium being hosted jointly by the National Treasury and the Presidential Climate Commission. Ramaphosa notes that the world is moving towards greener economies and that a number of South Africa’s major trading partners are also taking measures to decarbonise that will affect the competitiveness of the country’s exports to these markets.