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.
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.
IMF slashes Botswana’s 2024 growth forecast amid diamond market woes
The International Monetary Fund (IMF) has slashed Botswana’s 2024 growth forecast to 1% from an earlier April estimate of 3.6% due mainly to lower diamond production, it said in a statement. The budget deficit is also expected to widen to 6% from 3.45% due to a fall in mineral revenues, the IMF said, urging the diamond-rich southern African country to consider slowing down new infrastructure projects to help the economy.
Botswana seeks Mozambique rail route to exploit coal billions
The leaders of three southern African nations signed a deal to proceed with a rail and port project to help land-locked Botswana export its massive coal reserves through a Mozambican port, though they still need to find the money to make it happen. The African Development Bank has agreed to finance a feasibility study for the project, at a cost of about $4-million, Mateus Magal, Mozambique’s transport and communications minister, said on Friday at the signing ceremony broadcast over state television.
Freight train owned by Russian aluminium giant crashes in Guinea
A freight train carrying alumina owned by Russian aluminium giant United Co. Rusal was derailed on Thursday in Guinea’s capital Conakry, according to Radio Television Guineenne. The incident caused no casualties, the state-owned broadcaster said, citing eyewitnesses. Repair works are underway, and the train will be put back into operation quickly, a spokesman of the Moscow-based company said on Friday.
Shanghai Week’s platinum futures poised to manage price risk, boost demand
Platinum’s appeal is being bolstered by its wide discount to gold, increasing industrial applications, and inclusion on the critical mineral lists of many countries, World Platinum Investment Council (WPIC) CEO Trevor Raymond outlined at the culmination of Shanghai Platinum Week, where day-one viewership reached the 455 000 level. Poised to transform domestic price risk management and boost demand for platinum products are new physically settled platinum and palladium futures, which the Guangzhou Futures Exchange embedded during a week that has served as a core platform for industry innovation and collaboration, as well as a highlighter of the critical role that platinum group metals (PGMs) play in the global economy’s technological advancement.
Namibian Ministry grants Madison a prospecting licence to expand its Khan mine development
Uranium exploration company Madison Metals has reported that the Namibian Ministry of Mines and Energy has granted a licence for base and rare metals, industrial minerals, and nuclear fuels for exclusive prospecting licence (EPL) 8905, which lies at Madison West within mining licence (ML) 86A, the same licence area that hosts its Khan copper mine. The company says this important development signifies a major milestone for Madison as the company continues to build its portfolio and capitalise on the growth opportunities in the uranium mining sector.
LBMA appoints new nonexec director; chairperson to step down
Independent precious metals authority the London Bullion Market Association (LBMA) has reported that former BIS banking department head Peter Zoellner will join the association as an independent nonexecutive director in the fourth quarter of this year. This was announced following the authority’s thirty-sixth AGM, held in London, in the UK, on July 11.
Atlantic resuming Ewoyaa operations, mining lease application submitted to Parliament
Aim-listed Atlantic Lithium on July 12 confirmed that the application for the grant of the mining lease in respect of its Ewoyaa lithium project had been submitted to the Ghanaian Parliament. The company said the necessary Parliamentary process was now under way for Parliament to ratify the mining lease.