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The decarbonising of the global economy to prevent climate change is going to create the greatest investment opportunity of our lifetime. It will also leave behind the companies that do not adapt – regardless of what industry they are in.
Gold mining company Harmony Gold is in the process of spending R7.7-billion on capital projects. The biggest of these is the high-grade Zaaiplaats gold project at a capital cost of R4.5-billion. The Moab Khotsong mine will expand through Zaaiplaats.
The net profit of gold mining company Harmony Gold plunged 69% to R1.4-billion from R4.6-billion in the six months to December 31, and an interim dividend has been declared out of income reserves. Revenue increased by 2% to R22-billion from R21.6-billion and the operating free cash flow margin halved to 11%, the Johannesburg- and New York-listed company stated in a Stock Exchange News Service announcement.
New Kumba Iron Ore CEO Mpumi Zikalala this week gave a firm thumbs up to South Africa’s biggest iron-ore mining and marketing company continuing to invest in mineral exploration in the Northern Cape, which she described as being highly prospective. The Johannesburg-listed Anglo American group company has spent R1.5-billion on high potential targets in the last ten years to good effect. Kumba has, over the last eight years, been exploring in the Northern Cape, where it has identified anomalies and targets that have become a great focus for the company as potential sources for other new mi...
South Africa’s major iron-ore producer and marketer Kumba Iron Ore is fast-tracking solar power permitting and looking to wind energy, it is discussing the use of green hydrogen with particularly European customers, and it foresees relatively strong iron-ore prices continuing in the short term as well as good premium prospects for its lump ore, which makes up two thirds of Kumba production. On the company’s renewable energy generation plans, new Kumba CEO Mpumi Zikalala said in response to Mining Weekly during a media briefing: “We’re currently busy with the permitting ...