News 18:00

BULLETIN 10 June 6 pm

Good afternoon. I am……..

In this bulletin:

# The South African Communist Party welcomes president Ramaphosa’s tougher stance on illegal immigration
# Anglo American emphasises junior miners hold the key to future growth
# And, African states are urged to create favourable conditions for mining investors

# The South African Communist Party welcomes president Cyril Ramaphosa’s address on migration, which recognises public concerns about unemployment, border control, safety and pressure on services. The party condemned xenophobia and the exploitation of undocumented workers. It believes immigration laws must be enforced by the state and not by vigilante groups. SACP’s Mbulelo Mandlana says migration is not the root cause of South Africa’s economic challenges. Mandlana added the deeper causes lie in unemployment, inequality and corruption.

# Anglo American says a strong junior mining sector is critical to South Africa’s future mining growth, transformation and job creation. Speaking at the Junior Indaba in Johannesburg, senior vice-president for corporate affairs Nevashnee Naicker said junior miners help unlock economic opportunities, hence policy certainty and efficient licensing to attract investment are needed. She reaffirmed Anglo American’s commitment to invest 600-million-rand in the Junior Mining Exploration Fund to support mining projects:

# The High Court in Pretoria has set aside a decision by the energy regulator, Nersa, to approve Eskom’s application to expand its electricity supply area to include parts of the Mooikloof Mega City development in Tshwane. The court found that the 2023 decision was unlawful. The city’s Selby Bokaba says the ruling prevents a major loss of revenue that could have amounted to about 125-million-rand a month once the development is fully operational:

# Resources for Africa’s mining optimist Bernard Swanepoel has called on African governments to create favourable investment, exploration and mining development conditions. Speaking at the Junior Mining Indaba in Johannesburg, Swanepoel said junior miners are responsible for discoveries that become future mines. He warned that exploration capital is highly mobile, hence South Africa must improve its competitiveness to attract investors. He called for transparent regulation and efficient licensing systems to stimulating growth:

# Soccer: Award-winning FIFA-listed Somali referee Omar Artan has received a warm welcome in Mogadishu after being denied entry into the US, where he was due to officiate at the FIFA Club World Cup. Somalia’s Ministry of Youth and Sports has condemned the decision, saying it undermines fairness despite diplomatic efforts. Artan, who held a valid visa, was detained at Miami International Airport and declared inadmissible as Somalia is affected by US travel restrictions. He had been poised to become the first Somali referee to officiate at a FIFA World Cup.

# And the financial indicators: The dollar trades at 16-rand-51-cents against the rand and the euro at 19-rand-10-cents. One British pound costs 22-rand-13-cents and Bitcoin trades at 62-thousand-083-dollars. Gold sells at four-thousand-174-dollars-78-cents a fine ounce and Brent crude oil is quoted at 92-dollars-5-cents a barrel.

Stay tuned for more news………….