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The Star
3 days ago
- General
- The Star
Zimbabwe issues permits for cull of at least 50 elephants
FILE PHOTO: A group of elephants walk near a solar panel at a watering hole inside Hwange National Park, in Zimbabwe, October 23, 2019. REUTERS/Philimon Bulawayo/File Photo HARARE (Reuters) -Zimbabwe has issued permits to cull at least 50 elephants on a reserve where there are three times more elephants than the habitat can sustain, wildlife authorities said on Tuesday. The Save Valley Conservancy in southern Zimbabwe is home to roughly 2,550 elephants, whereas it has a "carrying capacity" of 800 elephants, Zimbabwe Parks and Wildlife Management Authority said in a statement. The conservancy already moved 200 elephants to other reserves over the past five years to try to manage its elephant population. Meat from the cull will be distributed to local people to eat, while the ivory from the killed animals will be handed over to the parks authority. Zimbabwe is home to one of the largest elephant populations worldwide, and climate change has worsened human-wildlife conflict as elephants encroach on areas where people live in search of food and water. The Southern African country authorised another cull last year of about 200 elephants, the first since 1988. At the time authorities said they would distribute meat from the cull to communities affected by a severe regional drought, shortly after Namibia said it would do the same. (Reporting by Nelson Banya and Alessandro Parodi;Editing by Alexander Winning, William Maclean)
Yahoo
25-03-2025
- Business
- Yahoo
Gold Road rejects Gold Fields' 'highly opportunistic' $2.1 billion takeover bid
By Nelson Banya and Aaditya GovindRao (Reuters) -Australia's Gold Road Resources said on Monday it had rejected Gold Fields' $2.1 billion buyout bid because it believed the offer materially undervalued the company and was "highly opportunistic". Gold Fields' CEO Mike Fraser told Reuters he was still confident that Gold Road's shareholders would back the deal. With its offer, the South African miner aims to consolidate ownership over the low-cost, long-life Gruyere gold mine in Western Australia, which it operates under a joint venture with Gold Road. "The offer attributes no value at all to the potential underground expansion of the Gruyere mine," Gold Road said in a statement. Gold Road said it had tabled an alternative offer to buy Gold Fields out of Guyere, but its proposal was rejected by the Johannesburg-based miner. In a statement on Monday, Gold Fields said it was "disappointed that the Gold Road board has not constructively engaged on key elements of the proposal". Fraser told Reuters in an interview that there was "a different view on value from the (Gold Road) management point of view than what the market sees, which is represented by the share price". "We do think that the shareholders will like this transaction," adding that he expects "more transparent conversations with their shareholders and our shareholders around the merits of this transaction". Engagements with some common shareholders in both Gold Fields and Gold Road had shown "strong signals" of support for the deal, Fraser added. He said Northern Star Resources' imminent $3.3 billion buyout of De Grey Mining, which counts Gold Road as its top shareholder, was one of the key catalysts for Gold Fields' bid. Under its proposal, Gold Fields said it intended to vote in favour of the Northern Star transaction. Gold miners are undergoing a wave of consolidation this year as companies seek to grow their reserves at a time of sky high bullion prices. Ramelius Resources agreed to take over Spartan Resources for A$2.4 billion last week. In October, Gold Fields bought Osisko Mining for C$1.93 billion ($1.35 billion), making it the full owner of the Windfall project in Canada. ($1 = 1.5929 Australian dollars) ($1 = 1.4337 Canadian dollars) Sign in to access your portfolio
