Darren Parker

https://staging1.creamermedia.com/

Darren Parker

Darren Parker is a Creamer Media Senior Contributing Editor Online for Engineering News and Mining Weekly.

Volt engages Tanzania govt on shareholder agreement for Bunyu

3rd September 2024 ASX-listed graphite producer and battery materials developer Volt Resources is actively engaging with Tanzania's Ministry of Minerals to finalise a shareholder agreement and framework agreement concerning the Bunyu graphite project. This initiative marks a step forward as the company seeks to... →

Completed confirmation drilling at Okiep firm up copper resource for Orion

3rd September 2024 JSE- and ASX-listed Orion Minerals has successfully completed confirmation drilling at Okiep in the Northern Cape, with results confirming the high quality of a large historical drilling database inherited from Newmont and Goldfields, the company said on September 3. Assay results received for... →

Photo by Creamer Media
Orion MD and CEO Errol Smart

SEW-EURODRIVE to invest R380m in new Joburg drive service, repair facility

2nd September 2024 Drive technology manufacturer SEW-EURODRIVE has announced an estimated R380-million investment into a new service and repair centre to be built adjacent to its current facilities in Aeroton, Johannesburg. The new 15 000 m2 facility will provide drive and gearbox repairs and servicing to the South... →

An image of the planned new SEW-EURODRIVE facility on display during the groundbreaking ceremony

SEW-EURODRIVE ‘closes the loop’ with more diverse range of drives, automation, sustainability solutions

2nd September 2024 Power train solutions company SEW-EURODRIVE has announced that it is rolling out a wider selection of planetary drives as part of its ‘close the loop’ strategy, geared at servicing more industry sectors than previously. Among the new ranges being introduced into South Africa are its SEW PPK... →

SEW-EURODRIVE national sales and marketing manager Jonathan McKey

No interim dividend for Tshipi shareholders, Jupiter declares

30th August 2024 Given the ongoing volatility in the manganese market, including sharp price contractions in recent weeks, the board of ASX-listed Jupiter Mining’s flagship Tshipi manganese mine, in the Northern Cape, has decided to not declare a dividend to its shareholders for the six-month period to June 30.... →

Tshipi mangangese mine

M&R reaches debt repayment agreement with banking consortium

30th August 2024 JSE-listed Murray & Roberts (M&R) has reached an agreement with a consortium of South African banks to repay R409-million in debt. The debt, which peaked at about R2-billion in April 2023, has been significantly reduced through a deleveraging plan agreed upon by the company and the consortium. A... →

South African energy transition hampered by system modelling expertise shortage – Energy Council

30th August 2024 The Energy Council of South Africa has warned of a shortage of energy system modelling expertise in the country at what it says is a critical time, when complex and important choices need to be made regarding South Africa’s energy transition. “This can largely be attributed to a lack of technical... →

Andrada reports 83% y/y increase in revenue

30th August 2024 Aim- and OTCQB-listed critical raw materials producer Andrada Mining has reported an 83% year-on-year increase in revenue for the 2024 financial year ended February 29, on the back of increased tin metal volumes. “We achieved over 50% annual volume increases in both tin concentrate and tin metal... →

Anglo partners with fertiliser companies to develop polyhalite market in China

30th August 2024 Diversified mining major Anglo American has signed memorandums of understanding (MoUs) with two major Chinese fertiliser companies Sinochem Fertilizer and BeiFeng to further develop the market for polyhalite in China. Sinochem, a member of the Syngenta group, is the largest distributor of... →

Eyes, ears still the most vulnerable to occupational harm, expert says

30th August 2024 Eyes and ears remain the most frequently injured body parts of workers claiming compensation for occupational injuries and diseases in the South African mining and industrial sectors, insurance company Rand Mutual Assurance compensation for occupational injuries and diseases prevention and... →

Resolute in a strong cash position at midyear, on track to meet full-year guidance

29th August 2024 Australia- and London-listed Resolute Mining has reported a robust net cash position of $96.6-million and remains fully unhedged as of June 30. With the release of Resolute's financial results for the first half of the year on August 29, CEO Terry Holohan said the company was on track to meet its... →

CoJ wants unified forum to address illegal mining scourge

29th August 2024 The City of Johannesburg's (CoJ’s) Environment and Infrastructure Services Department (EISD) has called for the establishment of a unified forum to address illegal mining, emphasising the need for a CoJ illegal mining policy or bylaws. EISD representative Cleopatra Mputle highlighted on August 29... →

Transnet rolling out novel outcomes-based security approach to protect its infrastructure

28th August 2024 State-owned Transnet is implementing a novel outcomes-based security (OBS) approach to combat the high levels of theft and vandalism on its rail network, chief security officer Ashwin Govind has revealed. Speaking on the second day of the South African Heavy Haul Association conference, on August... →

TPT recovery on track but can be better, CE says

28th August 2024 State-owned Transnet Port Terminals (TPT) CE Jabu Mdaki has expressed satisfaction with the company's progress in meeting its Phase 1 recovery plan targets, while also acknowledging the need for further improvement to align with global benchmarks and contribute more effectively to the recovery of... →

TFR managing less than half of its maintenance investment requirements

28th August 2024 State-owned Transnet Freight Rail (TFR) is meeting less than half of its necessary maintenance investment, with inflation significantly expanding the gap in year-on-year funding requirements. Further exacerbating this, TFR CE Russell Baatjies said, was the persistent drain on maintenance funds by... →

Freight rail underperformance cost South Africa’s bulk mining sector R140bn in the last super cycle

28th August 2024 Owing to domestic logistics constraints, South Africa’s coal and iron-ore bulk mining sectors were unable to capitalise on the last super cycle from 2021 to 2023, resulting in an estimated R140-billion in lost revenue for those two commodities alone, iron-ore miner Kumba Iron Ore CEO Mpumi... →

A quarter of Redefine’s property portfolio to be powered by renewables by end-2025

27th August 2024 JSE-listed real estate investment trust (Reit) Redefine Property has revealed that its total renewable-energy component, which includes wheeling and further expansion of its rooftop solar PV portfolio, is expected to reach 25.14% by the end of next year. Speaking at the Redefine Property capital... →

Redefine Properties optimistic about future of office space rental market

27th August 2024 JSE-listed real estate investment trust (Reit) Redefine Properties has indicated optimism in the recovery of the office space rental sector, which suffered a severe drop-off in demand at the outbreak of the Covid-19 pandemic. The office space rental sector accounts for about 35% of Redefine’s... →

Base Resources reports 50% y/y revenue decline

26th August 2024 ASX- and Aim-listed mineral sands producer and developer Base Resources has reported revenue of $135.1-million for the financial year ended June 30, which is a 50% reduction on revenue reported for the prior financial year, owing to lower production and sales volumes. Earnings before interest,... →

Gold Fields appoints new CFO

26th August 2024 JSE-listed Gold Fields has appointed Phillip Anthony Murnane as CFO and executive director. He will be based at the Gold Fields corporate office in Johannesburg. →

Incoming Gold Fields CFO Phillip Anthony Murnane

ARM warns of an up to 50% y/y decrease in headline earnings

26th August 2024 JSE-listed African Rainbow Minerals (ARM) has warned that its headline earnings for the 2024 financial year are expected to decrease by between 40% and 50% year-on-year to between R4.49-billion and R5.39-billion for the 12 months ended June 30, compared with about R8.98-billion in the financial... →

44% of automotive customers ready to switch to EVs, research shows

23rd August 2024 Although about 44% of automotive customers say they are ready to buy an electric vehicle (EV) as their next vehicle, 46% remain unsure, while 10% say they will definitely not buy an EV, according to technology and consulting firm Accenture Song venture and business building EU auto lead Jens... →

BMI revises 2024 iron-ore price forecast lower to $110/t

23rd August 2024 Market analysis firm BMI, a Fitch Solutions company, has revised down its 2024 iron-ore price forecast from an average of $120/t to $110/t, as subdued demand in mainland China amid the ongoing property downturn continues to exert downward pressure on the iron-ore market. In its market commentary... →

NEV sales up amid lower overall new-vehicle sales

23rd August 2024 New energy vehicle (NEV) sales from 18 brands increased by 169.8% from a very low base of 1 228 units in the second quarter of last year to a decent 4 122 units by the end of the second quarter of this year, naamsa | the Automotive Business Council president Billy Tom has said. “We are definitely... →

First A-grade copper cathode produced at Tschudi in four years

22nd August 2024 London Metal Exchange (LME) A-grade copper cathode has been produced at Consolidated Copper Corp’s (CCC’s) Tschudi facility, in Namibia, for the first time in four years. For a copper cathode to be classified as LME A-grade, it must meet a purity level of at least 99.99% copper. This grade... →

Mining at Tschudi

Adcock Ingram reports 6% y/y growth in revenue, 4% y/y profit growth

22nd August 2024 JSE-listed pharmaceutical manufacturer Adcock Ingram has reported a 6% year-on-year increase in revenue, from about R9.1-billion in 2023 to about R9.6-billion for the financial year ended June 30. Trading profit also increased by 4% year-on-year, from about R1.1-billion to about R1.2-billion.... →

Mantengu regains control over Goudini chrome operations

22nd August 2024 JSE-listed Mantengu Mining has announced that its subsidiary Meerust Chrome has regained full operational control over the chrome mining and processing environment on the Goudini farm in the North West province. The company, which is involved in chrome ore extraction and processing, has recently... →

Rail infrastructure thieves receive lengthy prison sentences

22nd August 2024 State-owned Transnet Freight Rail (TFR) has welcomed the conviction and sentencing of four people arrested in connection with the theft and damage of essential Transnet infrastructure that seriously impacted on its rail operations. On August 19, the Nxuba Magistrate’s Court in the Eastern Cape... →

Sibanye secures €500m green loan to develop its Keliber lithium project

22nd August 2024 JSE- and NYSE-listed Sibanye-Stillwater has executed a €500-million green loan financing facility for its Keliber lithium project, in Finland, through its subsidiary Keliber Technology Oy. The company explained that the green loan secures the final capital expenditure funding required for the... →

Sibanye CEO Neal Froneman

Railway operators urged to consider cost and quality of locally manufactured rolling stock

22nd August 2024 Although the Southern African Development Community is able to manufacture, maintain, repair and upgrade rail rolling stock to high standards, the high costs of local manufacturing are driving railway operators to import from abroad instead, a panel of speakers agreed during the South African... →

Zimplats' revenues fall on softer metal prices

20th August 2024 Platinum miner Zimplats has reported a 20% year-on-year decrease in revenue, dropping from $962.3-million at the end of the 2023 financial year to $767.1-million at the close of the 2024 financial year on June 30. The company attributed this decline to the softening of average dollar metal prices... →

Altona appoints new chairperson

20th August 2024 London-listed rare earth elements exploration and development company Altona has appointed Simon Charles chairperson, with immediate effect. Charles is a Marriott Harrison solicitor and senior partner, having joined the firm in 2004. He joined the Altona board on June 9 last year as a... →

Aveng demerger signals possible exit from South African market

20th August 2024 Construction, engineering and contract mining group Aveng has outlined plans to split its Australian and South African operations into two separate and independent entities. This demerger, which will be executed through a series of yet-to-be-determined transactions, reflects the company’s... →

Kamoa-Kakula’s Phase 3 concentrator reaches commercial production

19th August 2024 Dual-listed Ivanhoe Mines’ Phase 3 concentrator at the Kamoa-Kakula Copper Complex, in the Democratic Republic of the Congo (DRC), has reached commercial production, the company announced on August 19. Together, Kamoa-Kakula’s Phase 1, 2 and 3 concentrators achieved a combined monthly production... →

Kamoa-Kakula Copper Complex

Thungela’s underwhelming interim results attributed to coal price dips, rail inefficiencies

19th August 2024 Coal producer Thungela has blamed an unfavourable price environment across the Richards Bay and Newcastle Benchmark coal prices, together with the continued underperformance by State-owned Transnet Freight Rail (TFR), for a significant year-on-year deterioration in its financial performance for... →

Thungela CEO July Ndlovu

Cape Town Container Terminal brings its total hauler fleet up to 47

16th August 2024 The Cape Town Container Terminal has completed the recruitment of hauler drivers in time for the arrival of 32 new haulers early this month – bringing the total of the terminal’s new fleet to 47 haulers. “We are now able to deploy enough resources behind every crane. At this point, our haulers... →

Madison CEO urges investors to buy uranium equities while prices are low

16th August 2024 Uranium resource developer Madison Metals CEO Duane Parnham has urged investors to take advantage of the low price of uranium equities before it starts to rise again. “Uranium equities have historically bottomed in July and August over the past three years. This pattern underscores the strong... →

Madison Metals CEO Duane Parnham

New study evaluates potential for nitrogen interventions to combat climate change

16th August 2024 An international research team has combined multidisciplinary methods to evaluate how nitrogen interventions could improve air quality and reduce nitrogen deposition. The study, published in scientific journal Science Advances in August, found that interventions, such as improving fuel combustion... →

Master Drilling warns of lower earnings ahead of interim results release

16th August 2024 JSE-listed Master Drilling has warned that its earnings per share (EPS) for the six months ended June 30 are expected to be between 6c and 40.3c a share – between 76.5% and 96.5% lower than the EPS of R1.71 reported for the first half of 2023. In dollar terms, EPS are expected to between $0.02... →

Aggressive scrap metal policies should be based on transparent data, not conjecture, expert says

16th August 2024 Significant alterations to existing scrap metal regulations and outright bans – albeit temporary – on the trade of certain scrap metals should not be made without access to transparent and accurate sector data, international trade consultancy XA Global Trade Advisors director Donald MacKay has... →

Capital’s interim revenue up 9.8% y/y

15th August 2024 Mining services company Capital has announced first-half revenue of $169.4-million, marking a 9.8% increase from $154.3-million in the 2023 interim period. The company's full-year revenue guidance remains at between $355-million and $375-million. Earnings before interest, taxes, depreciation and... →

Captial CE Peter Stokes

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