Modern Mining March 2023
I’ll do my crying in the rain C hatGPT is coming for your job and, if you are a journalist, you are in the firing line. From the financial sector to health care to publish ing, several industries remain vulnerable as
entities and through public-private partnerships. Transport and logistics have been allocated an estimated R351.1 billion, which will include SANRAL improving the road infrastructure network, while water and sanitation has been allocated R132.5 billion over the next three years. But whether this will translate to infrastructure spend that will see our decrepit and run-down infrastructure fixed, remains to be seen. Mining Indaba While faith in our ruling party’s ability to deliver remains questionable, given promises over the years that have failed to materialise, the mining industry’s drive to get down to business and push for greater output, is not. The throng of attendees at the Investing in African Mining Indaba, to levels last seen pre Covid, was most heartening. There was a palpable buzz as project developers came out in force to court investors and, in the jostle for funding, junior and mid-tier miners with energy metal related projects were the star attractions. The overarching theme of sustainability cer tainly permeated across all topics, with most clients interviewed at the event keenly targeting a lower carbon footprint – see TOMRA story (pg 28) and CRU (pg 26). In this edition, we speak to Walkabout Resources, which is on-track for graphite pro duction from its Lindi Jumbo project, in Tanzania, before year-end. According to CEO Andrew Cunningham, the project will come online at a most fortuitous time just as demand for graphite outstrips supply and prices for the critical metal soar (pg 12). Also of note is Canyon Coal’s new R1.4 bil lion Gugulethu Colliery, in Mpumalanga, which is scheduled for production in the second half of 2023 (pg 24). Our cover story, African Trading Group, is boldly courting international clients, having recently entered the Central American and Asian markets (pg 8).
artificial intelligence is increasingly being used to perform a variety of tasks, including producing sophisticated written content. In fact, consumer publication CNET has been using AI to generate stories since last year and, for those yearning to get that prestigious MBA, here’s a news alert – in a recent MBA exam administered at Penn’s elite Wharton School, ChatGPT scored higher than many humans. So, the next time you read this column be wary – check carefully to see who’s written it. Even as AI targets your lunch-money, storms wreak havoc and loadshedding, our constant companion, adds to your woes as it hammers businesses and increases numbers in the unemployment line. Finance Minister, Enoch Godongwana’s medium-term growth outlook, revised down from the 1,6% forecast in October, to 1.4 per cent for 2023 to 2025, will leave you feeling even more defeated. However, a big positive from the budget speech is government’s incentive for businesses and individuals to take up renewable energy. According to Godongwana, individuals who install rooftop solar panels from 1 March 2023 will be able to claim a rebate of 25 per cent of the cost of the panels, up to a maximum of R15 000. This can be used to reduce the tax liability in the 2023/24 tax year. But best be quick to take up the offer as the incentive is only available for one year. Importantly, government will guarantee solar related loans for small and medium enterprises on a 20 per cent first-loss basis. National Treasury is set to launch the Energy Bounce Back Scheme in April 2023. Other good news from the budget speech is that the public sector is projected to spend R903 billion on infrastructure over the medium-term. The largest portion of this, around R448 billion, will be spent by state-owned companies, public
ChatGPT ChatGPT is a chatbot developed by OpenAI and launched in November 2022.
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