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PGM PROJECTS: PTM financial engineering may suggest Implats keen on building Waterberg project

PLATINUM Group Metals (PTM) last week unveiled a new major recapitalisation programme in which it will raise capital through new share issues, including one with its South African partner, and enter into a $20m credit facility.

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ESKOM: SA allocates Eskom extra R59bn over two years

  • Date: 17-08-19
  • Category: ESKOM
  • Source: Howe Business Daily

South Africa will give ailing state-owned power utility Eskom an additional R59 billion spread over two years, according to a copy of a special appropriations bill seen by Bloomberg.

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PGM PRODUCERS: Ivanhoe Mines Completes Strategic Equity Investment of C$612 Million (US$459 million) from China-Based CITIC Metal

Additional C$67 million (US$50 million) received from Zijin Mining through the exercise of its anti-dilution rights. Ivanhoe positioned to fully fund its share of capital costs to bring the Kakula Copper Mine to commercial production. CITIC Metal's Vice President Manfu Ma joins Ivanhoe Board

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SOUTH AFRICA: Mathunjwa wants traditional authority to take mines

Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa has urged the Bapo Ba Mogale Traditional Authority to expropriate the land on which Sibanye’s Marikana mines are on.

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PLATINUM: High platinum imports mystify industry

  • Date: 16-08-19
  • Category: PLATINUM
  • Source: The Asian Age

The domestic platinum jewellery market has been growing by around 25-30 per cent year-on-year. A sudden spurt in the imports of platinum has left the industry intrigued. In the past two months, platinum imports have gone up by almost four times compared to the same period last year.

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ELECTRIC VEHICLES: Indian OIl Refiner Plans Rapid Vehicle-Battery Swap Program

Bracing for a future with less-polluting fuels, Indian oil refiner Hindustan Petroleum Corp is planning a pilot program for swapping batteries of electric two- and three-wheelers at its outlets by December, according to people familiar with the matter.

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COBALT: China's Huayou pulls out of Congo cobalt mine investment after price slump

  • Date: 16-08-19
  • Category: COBALT
  • Source: Mining Weekly

BEIJING – China's biggest cobalt refiner Zhejiang Huayou Cobalt said on Thursday its overseas unit is pulling out of a deal to invest $66.3-million in a cobalt mine in the Democratic Republic of Congo (DRC) after prices of the metal slid.

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ENERGY STORAGE: CATL Connects World’s First and China’s Largest BESS Multi-Mixed Energy Power Station (100MWh) to the Grid

Contemporary Amperex Technology Co., Limited (CATL), a China-based manufacturer of lithium-ion batteries, has delivered world’s first and China’s largest battery energy storage system (BESS) multi-mixed energy power station (“the Station”) as part of the Luneng Haixi Multi-mixed Energy Demonstration Project (“the Project”), which is the first of its kind in China to integrate wind (400MW), photovoltaic (200MW), concentrated solar power (50MW), and an energy storage system (ESS) (100MWh) into one...

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