Project dearth slows South Africa’s $9.3 billion coal exit plan
The implementation of a $9.3 billion climate-finance pact between South Africa and some of the world’s richest nations has been slowed by an absence of investable projects, the African country’s presidency said.
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Visit: 32
Focus on coal miners, power grid as South Africa spends just sixth of climate aid
South Africa’s donor-funded climate program has spent just over a sixth of its allotted $11.6 billion, with a focus on expanding the power grid and preventing its coal-mining region slipping into decline as it shifts to renewables, two sources said.
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Visit: 69
Zijin wants its Africa copper mine to rival the world’s biggest
China’s Zijin Mining Group Co. is considering an expansion of its jointly-owned copper mine in the Democratic Republic of Congo that would place it among the world’s biggest single sources of the metal.
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Visit: 42
Koryx Copper raises $7.4 million to advance African projects
Koryx Copper (TSXV: KRY) said on Wednesday it has received funding commitments of C$10 million ($7.4 million) to help advance its flagship Haib project in Namibia and other copper exploration projects in Zambia.
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Visit: 37
South Africa’s platinum output back to pre-covid levels on job cuts
South Africa’s platinum supply has returned to pre-covid-19 levels, driven by widespread job cuts and operational recalibrations in the face of falling prices, according to data from The World Platinum Investment Council (WPIC).
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Visit: 104
China to agree on concession for Mao-era Africa railway by year-end
A Chinese state-owned company will finalize an agreement to take over the concession of a railway that links Zambia’s copper mines to a Tanzanian port by the end of 2024, according to the agency in charge of the line
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Visit: 81
Xi wants bigger returns, fewer headaches from African debt deals
When Chinese President Xi Jinping welcomes African leaders to Beijing this week, he’ll be holding a smaller checkbook and will have a clearer sense of what China wants in exchange: bigger returns and fewer headaches.
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Visit: 146
US sees bipartisan backing for Africa critical minerals plan
A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after a change in administration.
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Visit: 55
Impala chief sees no new platinum mines built in South Africa amid EV threat
Impala Platinum sees little prospect of new platinum mines being built in South Africa as the industry struggles with a price slump, its chief executive Nico Muller said on Thursday.
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Visit: 83
Endeavour settles African gold mine dispute with buyer Lilium
Endeavour Mining Plc and Lilium Mining settled legal proceedings over the sale of two African gold mines, with the assets to be transferred to the Burkina Faso government.
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Visit: 475
China drives African lithium surge to lock in key battery metal
Chinese miners and refiners are driving a surge in African lithium output, shrugging off concerns over a glut to lock in future supplies of the critical battery metal.
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Visit: 56
Africa’s top gold producer opens first plant to refine bullion
Ghana, Africa’s biggest gold producer, opened a new refinery in a bid to reap more value from its natural resources.
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Visit: 75
Kumba Iron Ore sees new South Africa government open to rail reform
Anglo American Plc’s South African iron ore unit said the country’s new government is committed to grappling with logistics bottlenecks that are limiting exports, while acknowledging the problem could take several years to resolve.
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Visit: 91
Uganda is latest African nation eying gold as currency shield
Uganda plans domestic gold purchases to build foreign exchange reserves and limit risks on reserve investments, becoming the latest African nation to turn to the precious metal to back up its currency.
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Visit: 106
Africa’s rare earths could make up 9% of global supply by 2029
African mines could account for nearly a 10th of the world’s rare earths in five years, climbing from zero today, creating new players in a market dominated by China.
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Visit: 221
JCHX closes in on Zambian copper mine deal as China tightens Africa grip
JCHX Mining is close to concluding a deal to buy Zambia’s Lubambe copper mine, two sources told Reuters, in the latest in a string of copper deals by Chinese companies intent on growing their control of the African copper mining industry.
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Visit: 101
South Korean, African leaders pledge deeper ties, critical mineral development
South Korean President Yoon Suk Yeol and the leaders of African countries agreed on Tuesday to forge deeper trade and business cooperation and launched a “critical minerals dialogue” aimed at sustainable development of the continent’s resources.
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Visit: 143
How a rattled South Africa became Anglo’s best defence against BHP bid
Days after miner BHP launched its takeover bid for rival Anglo American in April, the CEOs of both headed for South Africa, where a condition to divest Anglo’s local platinum and iron ore assets was causing a political storm.
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Visit: 90
BHP and Anglo remain split on South Africa as time runs out
With less than one day left on the clock, advisers for BHP Group and Anglo American Plc were still struggling to find a breakthrough to salvage BHP’s ambitious $49 billion takeover plan.
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Visit: 92
Anglo American’s South Africa investors open to improved BHP bid
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid, the Financial Times reported on Thursday.
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Visit: 163
Anglo American’s South Africa investors open to improved BHP bid
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid, the Financial Times reported on Thursday.
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Visit: 108
BHP insists Anglo American’s South African assets must go in any takeover
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revised offer, investors briefed on the miner’s thinking said.
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Visit: 170
BHP bombshell puts South African mining in a hole
BHP has put South Africa and its mining sector on the spot. The $140 billion Australian group’s ambitious swoop on rival Anglo American would see one of the Rainbow Nation’s most familiar companies largely withdraw from the country more than a hundred years after it was founded. The question is whether the government in Pretoria can stop the $39 billion transaction – and whether it should.
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Visit: 144
Anglo CEO meets South Africa mines minister after BHP’s takeover proposal
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group’s $39 billion takeover bid, a source familiar with the matter told Reuters.
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Visit: 302
BHP CEO flies to South Africa to push $39 billion takeover
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American.
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Visit: 135