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State-owned Transnet Freight Rail (TFR) is operating its North Corridor on reduced load, after a train, enroute to Richards Bay, derailed on Thursday. TFR said in a statement on Friday that 49 loaded wagons on Train 6605 had derailed on Line 1 at the Mqwabe bypass, between Dumbe and Vryheid, in KwaZulu-Natal. Trains continue to run on Line 2.
NYSE- and TSX-V-listed Fortuna Silver Mines said on Thursday that the illegal blockade at its San Jose mine, in Mexico, had been lifted and that operations had resumed. Following an agreement between Compañía Minera Cuzcatlán and union workers, operations at the mine and processing plant restarted on Wednesday evening.
An outline of the short-term and medium-term renewable energy plans of South Africa’s large platinum group metals (PGM) mining companies is provided in the latest Auctus Metal Portfolios report, a 16-page document compiled by independent precious metals consultant Dr David Davis. Auctus Metal Portfolios of Singapore offers a physical precious metal investment management system that includes platinum, palladium and rhodium.
Gold continues to be regarded as a good safe-haven asset for investors during difficult and uncertain times. The World Gold Council contends that 2022 was a textbook example of how gold’s assorted sources of demand and supply can offset one another, “providing gold with its uniquely stable performance as an investment asset”. In South Africa, once the world’s top producer, the country’s mining industry is facing a deteriorating security environment and a crime crisis that is costing the sector as much as R20-billion a year. While there are bright spots and new inv...
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