South32 Takes $372 Million Impairment on Africa Aluminum Smelter
The Mozal smelter, opened in 2000, is the largest industrial employer in Mozambique, according to South32, which holds a 64% stake in the project and its related transport infrastructure.
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Yahoo
an hour ago
- Yahoo
Veteran trader highlights crypto miner after Google deal
Veteran trader highlights crypto miner after Google deal originally appeared on TheStreet. TheStreet Pro's Stephen Guilfoyle knows what you're thinking. The veteran trader recently turned his attention to TeraWulf () , which saw its stock skyrocket on Aug. 14. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 "Sarge, isn't Terawulf a cryptocurrency mining operation?" he wrote. "Yes, but that said, the firm is transitioning into something bigger and potentially far more consequential than that." Guilfoyle said TeraWulf has pivoted toward providing infrastructure to so-called hyperscalers, the large cloud service providers offering massive computing power and storage capacity, with a focus on AI-related workloads. "In short, the firm is likely trying to position itself as a competitor to CoreWeave () ," he said, referring to the AI cloud-computing startup. Founded in 2021, TeraWulf said on its website that it provided 'domestically produced bitcoin by using more than 90% zero carbon energy today.' Wall Street trader cites TeraWulf deals Guilfoyle, whose career dates back to the floor of the New York Stock Exchange in the 1980s, said Terawulf reached two 10-year agreements with AI cloud platform company Fluidstack to supply high-performance computing clusters to large cloud providers. Google parent Alphabet () has agreed to provide funding of $1.8 billion to help finance this project. In return, Alphabet received warrants to acquire roughly 41 million shares of TeraWulf that would amount to an 8% stake when exercised. More Experts Stocks & Markets Podcast: Sectors to Avoid With Jay Woods Trader makes bold call with Boeing stock after defense workers strike Veteran fund manager sends urgent 9-word message on stocks "These are truly a game changer for TeraWulf," Chief Financial Officer Patrick Fleury told analysts during the second-quarter earnings call. "The Fluid Stack lease and Google support agreement are carefully structured to enhance our credit profile and position us to scale quickly." TeraWulf's stock has surged 55.4% this year and skyrocketed 144% from this time in 2024. TeraWulf beat Wall Street's quarterly earnings expectations, with revenue increasing 34% year-over-year to $47.6 million. The company cited a higher average bitcoin price and expanded mining capacity, offset partly by expected headwinds from increased network difficulty and the April 2024 halving, where bitcoin reduced the block reward by 50%. "My target price is around $9.50," Guilfoyle said. "This is a trade, not an investment, and I expect to be flat the name by the closing bell should short-term traders take profits en masse on Friday." Clear Street analyst Brian Dobson raised the investment firm's price target on TeraWulf to $12 from $9 and affirmed a buy rating on the shares, according to The Fly. The colocation agreements with Fluidstack, supported by Google's $1.8 billion lease backstop and equity stake, and 80-year ground lease at the Cayuga site in New York, "materially enhance" TeraWulf's long-term growth profile, the analyst said. The firm upped its 2027 Ebitda estimate to reflect TeraWulf's expanding high performance computing portfolio. It sees potential upside to its outlook as it does not consider new business wins. Adding Fluidstack as a client, along with Google's commitment, "will create significant momentum and increase the likelihood of additional contract wins going forward," Dobson contended. Analyst says TeraWulf likely to exit mining Citizens JMP analyst Greg Miller raised the firm's price target on TeraWulf to $13 from $7 and maintained an outperform rating on the reported solid Q2 results, underscoring progress in its strategic pivot toward high-performance computing hosting, the analyst said. The company is likely to exit mining by the next halving event, and it retains the flexibility to redeploy mining capacity toward HPC, aligning with customer demand trends, the firm says. Analysts have noted a shift from bitcoin mining to AI data centers, as both require huge amounts of electricity. A report by the International Energy Association said that electricity demand from data centers worldwide is set to more than double by 2030 to around 945 terawatt-hours, slightly more than the entire electricity consumption of Japan today. "Hyperscalers with generative AI needs are particularly interested in converting to bitcoin mining data centers due to the substantial power requirements and the urgency of deployment timelines," Prakash Vijayan, a senior analyst with Driehaus Capital Management, wrote in November. Vijayan said generative AI applications demand immense computational power and energy, often 10 times more than standard operations. "Bitcoin mining data centers are equipped with advanced cooling systems and have access to cheap, substantial energy sources," he said. "This presents an ideal solution for these needs." By repurposing existing bitcoin mining facilities, Vijayan said, hyperscalers can significantly reduce timelines and meet the growing demand for AI services more efficiently. "Given these trends, bitcoin miners are increasingly transitioning to AI data centers as a strategic move to diversify their revenue streams and leverage their existing infrastructure," he trader highlights crypto miner after Google deal first appeared on TheStreet on Aug 16, 2025 This story was originally reported by TheStreet on Aug 16, 2025, where it first appeared. Sign in to access your portfolio
News24
an hour ago
- News24
Africa's nuclear capacity could expand tenfold by 2050 — report
For now, South Africa remains the only African country generating nuclear power. But Africa's nuclear sector is poised for significant growth, with a new International Atomic Energy Agency report projecting generating capacity could increase tenfold by 2050. Despite having just one operational nuclear plant today, a new report projects that Africa's generating capacity could increase tenfold by 2050. The report, Outlook for Nuclear Energy in Africa by the International Atomic Energy Agency (IAEA), was launched at the G20 Energy Transitions meeting in South Africa held between July 30 to August 1, 2025, at the Sun City resort in the North West. The report examines how nuclear power could help address the continent's electricity shortages, diversify its energy mix away from fossil fuels, and drive industrial growth. According to MaryAnne Osike from the Nuclear Power and Energy Agency (NuPEA), 'Nuclear is not here to replace wind, solar, or hydro, it's here to strengthen them.' 'Its ability to provide constant, reliable baseload power means renewables can operate more effectively without being limited by weather or seasonal variations,' she shared in a call. 'When integrated into a diversified energy mix, nuclear offers long-term price stability, strengthens grid resilience, and reduces dependence on imported fuels. It's part of the same clean energy toolbox that Africa needs to achieve both climate goals and industrial growth,' she added. The IAEA outlook report also highlights the role of emerging technologies such as small modular reactors, outlines national programmes already underway, and stresses the need for supportive policies, regional cooperation, and innovative financing. According to Rafael Mariano Grossi, IAEA director-general, 'Access to reliable and low-carbon energy sources such as nuclear can enable Africa to further explore and add value to its vast natural resources.' The shift comes as African governments face the dual challenge of powering economies where more than 500 million people still lack electricity and replacing fossil fuels, which currently provide more than 70% of the continent's power. In the IAEA's high-growth scenario, nuclear capacity in Africa could more than triple by 2030 and expand tenfold by 2050, requiring more than US$100 billion in investment. Even in the low-growth case, output would double by 2030 and increase fivefold by mid-century. For now, South Africa remains the only African country generating nuclear power. Its two-unit Koeberg nuclear power station supplies nearly two gigawatts to the grid, and in 2024, Unit 1 received a 20-year life extension. But several other countries are moving from planning to implementation. Egypt is building the 4.8-gigawatt El Dabaa Nuclear Power Plant, with its first unit expected online by 2028. Ghana, Rwanda, Kenya, Namibia and Nigeria have made firm decisions to adopt nuclear technology and are working with the IAEA to prepare infrastructure, establish regulatory bodies, and develop human capital. Kenya set up its Nuclear Energy Programme Implementing Organisation in 2012, has since established an independent regulator, and is targeting 2038 for its first reactor, with SMRs under review to match demand patterns. Ghana's Nuclear Power Ghana is in vendor talks for both a large nuclear plant and SMRs, while Nigeria has opened bids for a 4,000-megawatt facility and signed agreements with multiple suppliers. A large part of this momentum is driven by growing interest in small modular reactors (SMRs), which offer flexible power generation in smaller increments than traditional gigawatt-scale plants. 'Global interest in SMRs is increasing due to their ability to meet the need for flexible power generation for a wider range of users and applications,' according to Zizamele Mbambo, South Africa's deputy director-general for nuclear energy. SMRs are well suited to Africa's small or fragmented grids, require less upfront capital, and can be deployed more quickly. They also offer off-grid potential for industrial projects such as mining and desalination. The IAEA outlook notes that SMRs could even be integrated into existing coal power sites, reusing infrastructure while cutting emissions, a theme it plans to explore in a forthcoming coal-to-nuclear transition report for the G20. Africa already holds a significant advantage, being home to 14% of the world's uranium production. Namibia ranks as the world's third-largest producer, while Niger and South Africa are also in the top ten. In Namibia, the previously idled Langer Heinrich mine has been reopened, with production expected to resume in 2026, and new projects are due by 2028. Tanzania has confirmed large reserves, such as the US$1.2-billion Mkuju River plant in jointly with Russia, is on course for pilot production. This resource base could bolster both export earnings and domestic energy security if countries invest in fuel cycle capabilities to convert raw uranium into reactor-ready fuel. However, according to experts like Osike, the pace at which Africa's nuclear ambitions materialise will hinge on financing, given the sector's high upfront costs and decades-long project lifecycles. 'Nuclear projects demand substantial upfront investment and a commitment that spans decades… Without innovative financing models and strong partnerships, many African countries will struggle to move from ambition to reality.' In June 2025, the IAEA and the World Bank signed an agreement, the Bank's first formal engagement with nuclear energy in decades. This opens the door for World Bank support in extending reactor lifespans, upgrading grids, and accelerating SMR deployment, while signalling to other multilateral lenders, including the African Development Bank, that nuclear is part of the clean energy transition toolkit. Vendor financing is also in play. Egypt's El Dabaa project, for example, is backed by large concessional loans from Russia with low interest rates and extended repayment terms. However, many African nations face low credit ratings and high debt-to-GDP ratios, so new financing models, from regional SMR purchase agreements to blended public-private investment, will be key. 'Developing a nuclear programme requires a century-long commitment, from construction through decommissioning and waste management,' Osike shared. 'Stable national policy, public support, and regulatory readiness are therefore essential,' she added. The IAEA's Milestones Approach identifies 19 infrastructure issues that must be addressed before construction begins. Continental and regional integration could further accelerate nuclear rollout. The Africa Single Electricity Market, launched by the African Union, aims to link national grids into the world's largest single electricity market. This could allow countries to share nuclear output, stabilise grids, and make large-scale investments viable. Shared infrastructure, training, and regulatory capacity could mirror the cooperative models already used in hydropower projects. *
Yahoo
2 hours ago
- Yahoo
SouthGobi Resources Second Quarter 2025 Earnings: US$0.077 loss per share (vs US$0.007 loss in 2Q 2024)
Explore SouthGobi Resources's Fair Values from the Community and select yours SouthGobi Resources (CVE:SGQ) Second Quarter 2025 Results Key Financial Results Revenue: US$155.3m (up 67% from 2Q 2024). Net loss: US$22.8m (loss widened by US$20.7m from 2Q 2024). US$0.077 loss per share (further deteriorated from US$0.007 loss in 2Q 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period SouthGobi Resources shares are down 7.0% from a week ago. Risk Analysis We don't want to rain on the parade too much, but we did also find 5 warning signs for SouthGobi Resources (2 shouldn't be ignored!) that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
