Cameron Mackay

Vanadium and energy storage solutions company Bushveld Minerals reported on Tuesday that it had received the R150-million ($8.1-million) in interim working capital from investment fund Southern Point Resources (SPR). The interim facility will provide the group with additional working capital to fund the ongoing expansion of production at the Vanchem vanadium plant, while the completion of the SPR transactions is under way.

Ethiopia-focused gold exploration and mining company Akobo Minerals announced on September 28 that its shares would now trade on the OTCQX Best Market, under the ticker symbol of AKOBF. The OTCQX Best Market is the highest market tier of OTC markets, on which 12 000 US and global securities trade.

Development finance institution (DFI) the Development Bank of Southern Africa (DBSA) head of energy, environment and information and communications technology (ICT) Mathapelo Malao has emphasised that the DFI’s energy, environment and ICT division holds strategic value for infrastructure development in Africa. “If we look at our credential limit, just on the energy sector alone is about as R60-billion, which is going to be increased to R80-billion given the number of significant transactions that we're seeing in that space.

International resource exploration company Tsodilo Resources says the High Court of Botswana has rendered an order that interdicts and restrains the Mines and Energy Minister – through the Department of Mines or any other department – from receiving, considering or assessing the renewal applications in relation to prospecting licences (PLs) 021 to 024/2018 This is pending the delivery of a judgment in Tsodilo’s review application with respect to PL 021/2018.

Australian gold explorer De Grey Mining has launched a fully underwritten two tranche placement of new fully paid ordinary shares to raise A$300-million, strengthening its balance sheet and providing it with flexibility to progress project activities. The new ordinary shares in the company (new shares) are to be issued under the placement at a price of $1.05 a new share.

Gold producer Hummingbird Resources has agreed to refinance a portion of its existing financing partner Coris Bank International group loan facilities and has secured additional funding as capital support for the group. This was announced by Hummingbird on September 28 along with the release of the company’s unaudited results for the six months ended June 30.

African phosphate developer and producer Kropz Group recorded revenue of $14.1-million for the six months ended June 30. The interim period also saw it record the first sales from the trial production phase.

State-owned power utility Eskom strategy development senior manager Mutenda Tshipala has noted that Eskom was evolving from the traditional electricity wheeling mechanism to virtual wheeling in collaboration with local telecommunications company Vodacom. Speaking at RES4Africa Foundation’s virtual session on September 29 – titled ‘The South African Electricity Wheeling Landscape’ – he said the traditional wheeling method Eskom currently uses credits the accounts of Eskom customers.

The Energy One Stop Shop (EOSS), officially launched by Trade, Industry and Competition Minister Ebrahim Patel on July 27, is in the ramp-up phase of a four-stage process aimed at fast-tracking the regulatory approvals required for new self-generation projects and projects that will be connected to the local power grid. The creation of the EOSS is an acknowledgement by government that the red tape around energy projects is onerous, particularly as applications need to be submitted to as many as 14 different government departments, says EOSS chief director Lester Bouah.

Lenny Wilson 3 Kevin McHattie 4 Lewis Martin 5 Euan Spark 7 Marc Scott 8 Fraser MacLeod 10 Anthony McDonald 11 Ewan Loudon 16 Michael Hunter 17 Spencer Moreland 22 Brad McKay