Centamin lowers FY18 production guidance

Aim-listed Centamin's share price on the LSE fell by more than 15% on Friday after the miner lowered its production guidance for the full year to between 505 000 oz and 515 000 oz. It had... 

AfDB's Africa Investment Forum to take place in November

The African Development Bank (AfDB) on Tuesday launched its Africa Investment Forum (AIF), which will seek to attract investment and public–private partnerships aimed at transformative development... 

Weir Minerals shines at Seifsa awards

Mine dewatering equipment supplier Weir Minerals won the 2018 Most Transformed Company of the Year Award, as well as the Environment Stewardship Award, at the Steel and Engineering Industries... 

Consortium to study feasibility of turning waste biomass into aviation fuel

A consortium comprising enterprise development specialist Fetola, the World Wide Fund for Nature South Africa (WWF-SA) and SkyNRG is launching the Waste to Wing project to determine the feasibility... 

IronRidge appoints new chairperson

Neil Herbert has been appointed nonexecutive chairperson of Aim-listed IronRidge Resources with immediate effect. He succeeds Nick Mather, who will remain on the board as a nonexecutive director. 

Signet joins De Beers' Tracr blockchain platform pilot

Signet Jewelers will become the first retailer to join De Beers Group's end-to-end diamond blockchain pilot programme, known as Tracr. Tracr aims to complete the first digital link all the way from... 

Katoro reaffirms mining potential at Imweru

Aim-listed Katoro Gold on Thursday confirmed that there was good upside potential for the further development of its Imweru gold project, in Tanzania. The company assessed the economic viability of... 

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO

Public Enterprises Minister Pravin Gordhan has appointed Phakamani Hadebe as Eskom CEO. Hadebe has been acting CEO of the power utility since January. 

Taste expects to widen FY headline loss a share

JSE-listed Taste Holdings expects to widen its headline loss a share to between 40.6c and 43.1c for the year ended February 28. This represents a 62% to 72% widening on the 25c headline loss in the... 

Arrowhead vacancies improve despite challenging economic environment

South African focused real estate investment trust Arrowhead achieved a strong operating performance in the six months ended March 31, despite macroeconomic challenges. Speaking to Engineering News... 

Hilton hotels to cut down on plastic waste

The Hilton hotel group will remove plastic straws and plastic water bottles from its 650 managed properties by the end of this year. The company on Wednesday revealed its goal of cutting its global... 

Fraser-Moleketi, Mphatlane to join Exxaro board

Geraldine Fraser-Moleketi, Mark Moffett and Isaac Mphatlane will join diversified miner Exxaro Resources’ board, following the retirement of directors Len Konar, Con Fauconnier and Saleh Mayet at... 

‘Movement’ key to economic growth – report

Investing in transport, logistics and infrastructure to improve the movement of goods is a key driver of economic growth, the ‘Avis Van Rental Movement Report 2018’ reveals. Unpacking key report... 

Some South African municipalities in financial distress – Treasury

Many municipalities remain in dire financial straits, says the National Treasury.  Its latest report on the state of local government, entitled ‘The State of Local Government and Financial... 

De Beers’ rough diamond sales increase to $550m in fourth sales cycle

Diamond producer De Beers reported an increase in rough diamond sales to $550-million for the fourth sales cycle of this year. This is compared with rough diamond sales of $522-million in the... 

Gem recovers 115 ct diamond from Letšeng

LSE-listed Gem Diamonds has recovered a 115 ct, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.  This is the... 

Goldplat to close Kenya mine plant

Aim-listed Goldplat will close Plant 1 at its Kilimapesa gold mine, in Kenya, following the successful installation and subsequent second-stage expansion of a new processing plant. The new plant,... 

Operational due diligence important to mitigating risk

Investing in operational risk management is key to mitigating corporate fraud, poor governance and simple errors which result in losses for companies and consequently investors, Mercer Sentinel... 

Aveng announces early bond redemption and R1.8bn rights issue

JSE-listed construction group Aveng will implement a R1.8-billion rights offer to raise the capital needed to fund the early redemption of a portion of its existing convertible bonds of R2-billion.... 

Nuclear, renewables must complement each other in South Africa – Cilliers

Nuclear and renewables are being pitted against each other in South Africa, which is not helpful in the energy solution space, says professional engineer Dr Anthonie Cilliers, arguing that the... 

Rosatom, Zambia to build nuclear science centre

Russia’s Rosatom and Zambia have signed an agreement for the construction of the Centre for Nuclear Science and Technology (CNST) in the Southern African country. Construction of the centre will be... 

1 000 new nuclear reactors needed to meet global energy demand by 2050 – WNA

The world will need to build 1 000 new nuclear reactors to meet global energy demand by 2050, World Nuclear Association (WNA) Harmony Programme adviser Jeremy Gordon said at AtomExpo, in Sochi,... 

Necsa’s NTP back at full production, wins AtomExpo award

The South African Nuclear Energy Corporation’s (Necsa’s) NTP Radioisotopes arm, which won the AtomExpo Award for the best project in the nonenergy-related use of nuclear energy, on Monday, is back... 

Platinum Group Metals and HCI amend strategic investment terms

TSX-listed mining company Platinum Group Metals (PTM) and South African black empowerment investment holding company Hosken Consolidated Investments (HCI) have agreed to amend the terms of a... 

Cobalt supply pressures rising amid DRC conflict mineral concerns

Technology and clean technology companies are increasingly struggling to secure adequate supplies of cobalt, while the ethical sourcing of cobalt also remains a challenge. The Democratic Republic... 

CRM tailings retreatment project cost rises

The estimated cost to complete the chrome tailings retreatment project at the Crocodile River Mine (CRM), in the North-West, has increased by 16.6% to R191.2-million, Eastern Platinum (Eastplats)... 

World Diamond Congress cancelled

The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have cancelled this year’s World Diamond Congress, which was due to be held in Tel... 

Ramaphosa’s ‘New Deal’ could revive investor confidence, restore fiscal discipline – Goldman Sachs

President Cyril Ramaphosa’s economic policy platform – otherwise known as the ‘New Deal’ for South Africa – does not represent a significant philosophical departure from stated objectives in the... 

Minigrid research fund launched for sub-Saharan Africa

Investment firm CrossBoundary, in partnership with The Rockefeller Foundation, launched the Mini-Grid Innovation Lab, in Nairobi, Kenya, last month. The lab is the first research and development... 

EVs not yet disrupting oil demand growth outlook

Short-term oil demand is still growing strong and will continue to do so through the end of 2020, a trend taking place despite the market’s increasing focus on electric vehicles (EVs) and the... 

Technology key to improving education – EY

Technology is rapidly contributing to improvements in the quality of education on the African continent, says EY Africa People Advisory Services Leader Chad Schaefer. Speaking at EY’s Strategy... 

Emerging markets more vulnerable to cyberattacks

Africa has one the highest cyberattack rates in the world, says EY cybersecurity leader Samresh Ramjith. “We are seeing mobile penetration at more than 100% across Africa. To most people on the... 

Economic mobility in developing countries has stalled for the last 30 years – World Bank

Economic mobility has been impeded in developing countries over the last 30 years, says the World Bank in its ‘Fair Progress? Economic Mobility across Generations Around the World’ report, released... 

Gold-backed ETFs attract strongest inflows since early 2017

Gold-backed exchange traded funds (ETFs) added 72.2 t to their holdings in April, taking overall holdings to 2 481 t. According to the latest statistics by the World Gold Council, this is the... 

AB InBev’s South African Q1 sales dip on March sin tax increases

JSE-listed Anheuser-Busch InBev (AB InBev) saw revenue growth in South Africa of mid-single-digits for the quarter ended March 31, driven by high, single-digit revenue per hectolitre growth. The... 

Amplats awarded global sustainability accolade

Anglo American Platinum (Amplats) has achieved the second-highest sustainability practice score within the metals and mining sector category of ISS-oekom’s global ‘Corporate Responsibility Review... 

Growthpoint Investec African Properties commences operations

Pan-African real estate investment business Growthpoint Investec African Properties (GIAP), a partnership between Growthpoint Properties, Investec Asset Management and the International Finance... 

Lucara Q1 loss widens

Lower revenues, higher depletion and amortisation costs and higher administrative and other expenses contributed to a widening in Lucara Diamonds’ net loss to $7-million for the quarter ended March... 

AfDB officially launches Africa Investment Forum

The African Development Bank (AfDB) on Tuesday launched its Africa Investment Forum (AIF), which will seek to attract investment and public–private partnerships aimed at transformative development... 

Kaap Agri sees positive H1 results despite drought

JSE-listed Kaap Agri has reported improved interim financial results as its ongoing retail and fuel diversification strategy has helped to lessen the impact of the Western Cape’s drought on the...