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Global market expected to continue growth despite market compression
31st March 2023 According to a report released by Market Growth Reports this March, the global machine tools market size was valued at $106 305.6-million, and is expected to expand at a compound yearly growth rate of 5.41% during the forecast period. The ‘Global Machine Tools Market Report 2023’ also highlights... →
Diamond miner releases underground expansion update
By: Halima Frost 31st March 2023 Diamond exploration and mining company Lucara Diamond in February released its results for the year and quarter ended December 31, 2022, in which it updated stakeholders on the progress of the shaft sinking expansion project for its Karowe mine near Letlhakane, in Botswana. During 2022,... →
Major player moving to secure power purchase agreements
By: Tracy Hancock 31st March 2023 As South Africa’s energy crisis continues, global renewable resource company Sappi is actively engaging with independent renewable-energy producers to secure renewable energy as and when it becomes available, through power purchase agreements. Buying renewable energy is one of three investment... →
ASSAf flags SA’s worsening water security situation in new document, suggests solutions
By: Natasha Odendaal 31st March 2023 The Academy of Science of South Africa (ASSAf) has published its Water Security Statement, in partnership with various institutions, to raise awareness and contribute solutions to mitigate South Africa’s worsening water security. The new Water Statement, which was released at the academy’s Water... →
De Ruyter to meet with lawmakers about corruption allegations
By: Bloomberg 30th March 2023 Andre de Ruyter, the former CEO of State-owned power utility Eskom Holdings who said the organisation was riddled with corruption, has agreed to appear before the South African parliament’s Standing Committee on Public Accounts and also present a written submission. He will be asked about... →
LME launches sweeping plan to revive nickel contract
By: Reuters 30th March 2023 The London Metal Exchange (LME) on Thursday announced measures to revive its nickel contract after last year's trading chaos while also launching a consultation on moves to boost liquidity in electronic trading. The world's largest and oldest metals trading venue plans to work with China's... →
Equinox arranges $200m to fund Greenstone construction
By: Mariaan Webb 30th March 2023 Dual-listed Equinox Gold has a arranged up to $200-million in gold prepay and gold purchase and sale arrangements, providing the company with enhanced financial flexibility and additional cash liquidity to continue to fund its 60% interest for the construction of the Greenstone gold mine, in... →
Syrah breaks production records
By: Esmarie Iannucci 30th March 2023 ASX-listed graphite miner Syrah Resources has reported record graphite production and sales for the 2022 financial year, with the company reporting a $106-million revenue, up from the $29-million generated in the previous financial year. The company on Thursday announced record annual graphite... →
US and EU near critical minerals accord to unlock US subsidies
By: Bloomberg 30th March 2023 The European Union and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act (IRA). The deal will likely be similar to an agreement the US signed with Japan this... →
Shanta posts higher output, profit for 2022
By: Marleny Arnoldi 30th March 2023 Aim-listed Shanta Gold finished the 2022 financial year with 18% higher gold production, at 65 209 oz, with strong operational progress having been made across all three of the company’s assets. Output came from the New Luika gold mine, in Tanzania, while the Singida gold project in the same... →
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