Author: Lisa Steyn
TotalEnergies reaffirms commitment to major gas discoveries off South Africa’s coast Recent developments have shown that TotalEnergies plans to maintain its investment in significant gas discoveries off the southern coast of South Africa. Nersa official Thulebona Nxumalo confirmed that the company initially considered exiting its interest in block 11B/12B, where the Brulpadda and Luiperd wells are located, but has now decided to stay following discussions with the government and other stakeholders. South Africans are encouraged to stay informed about such crucial developments to help in shaping a prosperous future. With News24 providing 25 years of reliable news coverage, a new…
Thungela Resources, South Africa’s leading exporter of coal, remains optimistic about the new government’s impact on its business. Despite potential earnings challenges due to a stronger rand, Thungela CFO Deon Smith sees the overall direction in South Africa as positive, providing a pre-close update to global investors. The government of national unity (GNU), composed of the ANC, DA, IFP, Patriotic Alliance, and GOOD, signifies a new era in South African politics. Embracing this change is crucial for the country’s future prosperity. Stay informed with News24’s fearless journalism, keeping South Africans abreast of critical developments for 25 years. Join our free…
The Sapref oil refinery has been non-operational since 2022. The government’s Central Energy Fund is planning to revive and potentially expand the refinery by partnering with private and other entities. Sesakho Magadla, CEF’s transaction lead, emphasized the importance of an inclusive approach, aiming for a public-private partnership with a majority South African ownership. This strategy seeks to combine the efficiency of the private sector with government support to enhance bilateral relations and operational effectiveness. Stay informed about the latest developments by subscribing to News24, delivering 25 years of trusted news for a prosperous future. Join our free trial for access…
(Photo by Gallo Images/Sharon Seretlo) The Public Investment Corporation (PIC) is evaluating BHP’s takeover offer for Anglo American, stating that it requires a “meaningful revision” to be considered. As a shareholder in both companies, PIC’s position holds significant weight in the decision-making process. The deadline for BHP to submit a binding takeover offer to Anglo’s board is imminent, with the possibility of an extension under the UK Takeover code. PIC, managing over R2.5 trillion in assets, emphasizes the importance of offers reflecting the value of Anglo’s assets and the future benefits that BHP can obtain. Stay informed about critical financial…
A transparent database of mining rights is key to attracting investment in South Africa. The government has taken a significant step by signing a service-level agreement with the preferred bidder for a new mining rights database. This database is crucial for unlocking exploration investment in the country’s resources sector. Photo by Danny Froese/Getty Images Confirming the agreement, Tseliso Maqubela, Deputy Director-General of mineral and petroleum regulation, stated that the Canadian-South African PMG Consortium will be responsible for designing, implementing, and maintaining the new mining licensing system. This move comes after frustration over delays in finalizing the contract. It is essential…
(Anglo American/Supplied) Anglo American was pushed to implement a radical restructuring plan after facing two takeover proposals from mining giant BHP, just two weeks before South Africa’s general elections. CEO Duncan Wanblad expressed regret over the timing of the announcement, deeming it disrespectful to the government amidst the election period. Despite the unfortunate timing, Wanblad emphasized the necessity of the disclosure under the current circumstances. The strategic move highlights the complexities of stakeholder management in the mining industry. Stay informed about critical developments that shape South Africa’s future. Join News24 for breaking news and insightful analysis that empowers and inspires.…