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PGM PRODUCERS: Sibanye-Stillwater returns to balance sheet again with R5.5bn RCF refinancing

SIBANYE-Stillwater returned to its balance sheet once again refinancing its existing R6bn revolving credit facility (RCF) with a new rand denominated agreement that allows it access to more money if it needs it.

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BATTERIES: Umicore enters strategic supply agreement with Samsung SDI

  • Date: 25-10-19
  • Category: BATTERIES
  • Source: Evertiq

Umicore has signed a multi-year strategic agreement with Samsung SDI for the supply of close to 80,000 metric tonnes of high-performance NMC (Nickel Manganese Cobalt) cathode materials starting in 2020.

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SOUTH AFRICA: The lost platinum sector jobs are not coming back

  • Date: 24-10-19
  • Category: SOUTH AFRICA
  • Source: Daily Maverick

Should companies bear the burden of protecting unprofitable jobs, or should the government bear the burden of protecting the people? This question is now palpable in the platinum sector. It’s a hard question because it’s unlikely that jobs in the sector will return. Ultimately, the government should shoulder the burden on re-skilling because training is demand-driven, not supply-driven.

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FUEL CELLS: Mid-2020 debut for world’s largest hydrogen mine haul truck – Anglo

  • Date: 24-10-19
  • Category: FUEL CELLS
  • Source: Mining Weekly

JOHANNESBURG (miningweekly.com) – The first motion of the world’s largest hydrogen-powered mine haul truck is scheduled for mid-2020, with testing continuing at Anglo American Platinum’s Mogalakwena mine until the end of the year.

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ESKOM: Restructuring Report: Eskom ‘Fundamentally Insolvent, Permanently Impaired’

  • Date: 24-10-19
  • Category: ESKOM
  • Source: Power

Eskom, South Africa’s state-owned utility that produces nearly 90% of the African powerhouse’s electricity, is saddled with liabilities, unavoidable expenses, and stranded costs that exceed $113 billion, and for various reasons, it is “fundamentally insolvent, permanently impaired, and will never be a true going concern enterprise under its current legal, operational, and governance structure,” concludes a report recently issued by an independent chief restructuring officer (ICRO).

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ESKOM: LETTER: Briquettes a viable product for Eskom

  • Date: 24-10-19
  • Category: ESKOM
  • Source: Business Live

After 10 years of exhaustive tests, Eskom has acknowledged that technologies now exist in SA that can successfully convert environmentally hazardous coal slurry waste into a suitable fuel at half the cost (“Turning coal fines into briquettes a daydream”, October 22).

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ESKOM: ABB comes clean as Eskom house of cards crashes down on global giants

  • Date: 24-10-19
  • Category: ESKOM
  • Source: Biz News

(Bloomberg) – Swiss industrial giant ABB is being investigated for suspect payments related to work it carried out for embattled South Africa utility Eskom.

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PGM PROJECTS: Tagwirei swoops on US$500m platinum project

Commodities baron Kudakwashe Tagwirei’s Landela Mining Ventures has emerged as the new joint venture partner in the Russian-led Darwendale platinum mine project, which has also roped in former Impala Platinum chief executive David Brown.

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