JSE-listed African Rainbow Capital (ARC) Investments says that, despite an unfavourable macroeconomic environment for the quarter ended March 31, several portfolio companies have demonstrated resilience, and it remains committed to identifying promising investment opportunities In an update on strategic matters and a performance overview of the significant investments in the ARC Fund for the period, including major developments to the end of April, the company says that significant challenges, including elevated interest rates, high unemployment levels and pressure on disposable incomes, persisted.
Steenkampskraal may supply thorium for use in cancer therapy
Producer and supplier of alpha-particle emitters for cancer therapy Thor Medical has signed a memorandum of understanding with rare earths and thorium miner Steenkampskraal Holdings for feedstock supply and technology cooperation. The aim is for the parties to enter into a long-term partnership agreement for the supply of feedstock as part of the Thor Medical’s strategy of developing multiple feedstock suppliers.
Major world economies seek to halt new private sector coal financing
Some of the world’s major economies want to finalise a plan ahead of this year’s UN climate summit to halt new private sector funding for coal projects, five sources with direct knowledge of the matter told Reuters.
If approved, the draft proposal by the Organisation for Economic Co-operation and Development, would be the first move by a multilateral institution to curb financing for coal, one of the biggest causes of climate change, which produces more carbon dioxide emissions than oil or gas when it is burned for energy.
GoviEx receives radiological certificate for Madaouela project
TSX-V-listed GoviEx Uranium has received its radiological certificate for the Madaouela uranium project from the Nigerien government. The radiological certificate is a regulatory requirement prior to starting mining operations and confirms the completion of radiological baseline studies.
Guinea signs alumina refinery deal with Emirates Global Aluminium subsidiary
Guinea has signed a non-binding agreement with a subsidiary of Emirates Global Aluminium for the construction of a major alumina refinery, the second one in the country, two senior officials of Guinea’s mines ministry told Reuters. The agreement, known as a “Term Sheet”, said the company, through its Guinea Alumina Corporation (GAC), will build the two-million metric ton capacity refinery by September 2026 in the west of the country. Initial production is expected at 1.2-million tonnes annually.
Ghana’s 2023 gold output rose 8.3%
Ghana’s gold production rose 8.3% to four-million ounces in 2023, data from the Ghana Chamber of Mines showed on Friday. The growth was driven primarily by expansion in the output of small-scale miners, which was sufficient to offset a decline in large-scale miners’ production.
Sibanye-Stillwater changes covenant flexibility of its credit facilities
JSE- and NYSE-listed Sibanye-Stillwater has announced that the lenders of its revolving credit facilities (RCFs), which include a $1-billion and a R5.5-billion RCF, as well as its Silicosis Guarantee Facility, have agreed to uplift the leverage covenant limits for all the facilities, which the company says further improves the flexibility of the facilities and the balance sheet. This follows proactive engagement by the company with its lenders, consistent with its publicly stated intent to ensure it is able to maintain sufficient financial flexibility and optionality, as required, through a possible extended period of low commodity prices, Sibanye avers.
World Hydrogen alerted to benefit of South Africa’s zero-emission hydrogen haul truck
One hydrogen haul truck eliminates the deleterious carbon emissions of the equivalent of 700 cars, First Mode global hydrogen sourcing director James Betts highlighted during this week’s World Hydrogen Australia webinar, where he spoke of the need for the hydrogen haul trucks to be conceived as bringing about a holistic decarbonisation of many aspects of mine sites rather than being viewed in isolation. “Just to give you a bit of context, these mine sites have many haul trucks running through them, so there’s a huge amount of potential diesel saving.
Long-term thinking key to managing South Africa’s mine water challenge
While South Africa has made considerable strides in addressing mine water challenges, several areas require improvement and focus to ensure that the country continues on a positive trajectory and that the future landscape of the local mining industry is vastly improved. Such areas include ensuring that the correct processes are in place, aligning implementation with research and adapting the regulatory environment to be more conducive to the treatment of mine-affected water.
Walkabout ships first graphite from Tanzania mine
Australia-listed Walkabout has produced and shipped its first consignment of on-specification graphite concentrate from the Lindi Jumbo graphite mine, in Tanzania.
The shipment is destined for Europe, marking a milestone for the project during its commissioning phase.