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Mpact’s interim earnings, revenue increase despite many headwinds

By: Darren Parker     8th August 2022 JSE-listed paper and plastic packaging manufacturer Mpact has reported an improved trading performance for the six months ended June 30, with group revenue for the period having increased by 5.2% year-on-year to R5.7-billion. The company attributed this to strengthened local demand for both... 

Acquisition to bolster Clear Sky’s lithium potential in Nevada

By: Simone Liedtke     8th August 2022 Mineral exploration and development company Clear Sky Lithium has entered into a property option agreement with miner Halo Lithium, pursuant to which it has been granted the right to acquire the Halo project, in Nevada. The acquisition of the project, which comprises 98 mineral claims, will... 

Imperial Metals seeks to raise $45m to bridge Mount Polley restart revenue shortfall

By: Creamer Media Reporter      8th August 2022 Vancouver-headquartered Imperial Metals Corporation is seeking to secure additional funds for restart activities at its Mount Polley copper and gold mine by way of a nonbrokered private placement of $45-million in convertible debentures. The company notes that the mine is operating at targeted... 

New approach to ESD needed for localisation success

8th August 2022 Localisation and the development of small, medium and micro enterprises (SMMEs) are key to the growth of African economies, including South Africa’s. President Cyril Ramaphosa has said that the country's post-COVID economic reconstruction plan includes a big localisation drive. However, simply... 

Freight costs to blame for spike in global inflation, not oil – Botha 

By: Irma Venter     5th August 2022 Ever since global inflation started heading north at an alarming rate, much of the conventional wisdom on the causes of this trend has pointed to energy prices, especially gas, oil and petroleum, says Dr Roelof Botha, economic adviser to the Optimum Investment Group. Also, when analysing the... 

Implats’ earnings to decline on lower sales revenue, inflationary pressures

By: Donna Slater     5th August 2022 Platinum group metals (PGMs) miner Impala Platinum (Implats) expects its basic earnings for the financial year ended June 30 to decrease by between 29% and 35% year-on-year, to between R30.5-billion and R33.5-billion, while its earnings a share for the period are expected to decrease by between... 

Angolan sovereign wealth fund invests further $10m in Pensana

By: Tasneem Bulbulia     5th August 2022 Aim-listed Pensana says Fundo Soberano de Angola (FSDEA), the Angolan Sovereign Wealth Fund, will make a further $10-million equity investment in the company in return for 12.3-million ordinary shares in Pensana. These funds will be directed towards Pensana’s Angola-based Longonjo project’s early... 

Arafura raises A$41.5m for Nolans

By: Esmarie Iannucci     5th August 2022 ASX-listed Arafura Resources on Friday announced plan to raise A$41.5-million to progress the development of its Nolans rare earths project, in the Northern Territory. The company has received firm commitments from institutional and professional investors, and would issue some 156.7-million... 

Industrial property faces expansion hurdles

By: Nadine Ramdass     5th August 2022 The local property sector was subjected to a forced slowdown, owing to the Covid-19 pandemic, consequently resulting in tension within the industrial property space as industrial tenants that needed to execute growth plans were waiting to evaluate what the real effects of Covid would be on their... 

Southern Africa lags in adoption of sustainable aviation fuel, despite great potential

By: Rebecca Campbell     5th August 2022 At the recent Farnborough International Airshow, in England, US-based global major aerospace group Boeing unveiled a new tool to model data, which it designated Cascade, which was created to map the ways that the global commercial aviation sector could reach the international target of having... 

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