Modern Mining April 2023

MCSA welcomes Dr Ramokgopa as SA’s new Minister of Electricity

The Minerals Council South Africa has wel comed the appointment of Dr Kgosientsho Ramokgopa as the minister responsible for electricity in the Presidency to guide the country out of its electricity crisis in partnership with the private sector. “The appointment of Dr Ramokgopa is a good appointment. The Minerals Council has worked with him in the past and we look forward to working with him to help resolve South Africa’s electricity crisis. It is important that other components of government align with the presidency to achieve the objec tives of the electricity recovery plan,” says Roger Baxter, CEO of the Minerals Council. The Minerals Council’s members and the private sector have more than 9 GW of renewable energy projects worth more than R160 billion that can be built in the next five years, taking pressure off Eskom Altona Rare Earths, a mining exploration company focused on the development of a significant Rare Earth Elements (REE) mining project in Africa, has raised £2 mil lion via a share offering. The company was seeking to raise £1.25 million in new capital. The fundraise is conditional on the pro posed admission of its entire ordinary share capital to the official list and to trading on the London Stock Exchange’s Main Market for listed securities. The intended use of funds will include

so it can conduct its critical maintenance programmes and restore its aging fleet of power plants to stability. “We look for warding to working with Dr Ramokgopa to expedite these projects, removing all red There are more than 9 GW of renewable energy projects that can be built in the next five years.

tape and bottle necks, including strength ening the transmission infrastructure which is vital to unlocking the private sector’s contribution to resolving the crisis,” says Baxter. 

Altona Rare Earths’ proposed admission to main market

the completion of Altona’s maiden JORC compliant mineral resource estimate and a scoping study for the company’s flagship asset, Monte Muambe Rare Earths mining project, in northwest Mozambique, which is expected to be published in May 2023. This will enable the company to increase its holding in Monte Muambe Mining Lda (which owns 100% of Monte Muambe) from 20% to 51%. The funds will also be used to repay certain creditors and for general working capital purposes. 

Altona Rare Earths is busy developing its Monte Muambe Rare Earths project.

April 2023  MODERN MINING  5