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IOL News
an hour ago
- Business
- IOL News
Orion Minerals accelerates funding as it aims for copper production by 2026
The Prieska Copper Zinc Mine (PCZM) is the centrepiece of Orion's future-facing metals portfolio. Orion's latest capital raise comprised of a placement of 289 million shares and an agreement to convert outstanding loan amounts to equity through the issue of 233 million shares for R67 million. Image: Supplied Tawanda Karombo Northern Cape base metals developer, Orion Minerals, is now focused on project financing and concentrate offtake agreements following share placement and share purchase schemes this month as the company further develops its copper projects. Orion's latest capital raise comprised of a placement of 289 million shares and an agreement to convert outstanding loan amounts to equity through the issue of 233 million shares for R67 million. Additionally, the copper mine is undertaking a share purchase plan 'to be offered to provide eligible shareholders with the opportunity to subscribe for as much as R355 000 in in new shares' to raise A$4 million. The share purchase plan opened this month and will close next week. Funds raised from the share placement and share purchase plan 'will be used principally to partially fund the development' of Orion's Prieska Copper Zinc Mine. This includes ongoing dewatering and site works for mine development optimisation studies and for general working capital purposes. After completion of these capital raise exercises, Orion is shifting focus over the next few months to finalising project financing. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'Key focus areas for the coming months: Our immediate priority is to finalise project financing and a concentrate offtake agreement for the Uppers. In parallel, work on project execution will gain momentum in the September 2025 quarter,' said Orion on Wednesday. Tony Lennox, the company's CEO said the company was keen to move into 'a project execution phase,' specifically at the Prieska Copper Zinc Mine. 'Our pre-eminent agenda is achieving first concentrate production from Phase 1 (Uppers) at PCZM and dewatering the mine and completing other early works to prepare for development of Phase 2 (Deeps). Our goal is to have first concentrate production from the Uppers by Christmas 2026,' said Lennox. The company was also concurrently viewing the definitive feasibility study for its Flat Mines project as a baseline that requires further optimisation over the coming months. 'In my first three months as CEO at Orion, I have been impressed by the upside potential at both PCZM and Okiep, and within Orion's regional portfolio. A review of near-term and medium-term exploration upside for both PCZM and OCP is underway,' explained Lennox. After the release of a definitive feasibility study for Prieska Copper Zinc Mine and the Okiep Copper Project Flat Mines Project in March, Orion has been concentrating on developing a project development and execution strategy as well as sourcing the required funding to enable the development of the projects over the quarter period to the end of June. Orion intends to get the Uppers project of the Prieska Copper Zink Mine into production speedily, transitioning Orion into a producing mining company. Subsequently, the first bulk concentrate from the Uppers is planned to be 13 months after finalising funding, with Deeps concentrate expected 29 months later. Funding discussions with the Industrial Development Corporation were ongoing, with processes underway to select service providers for the provision of renewable energy in the form of solar PV and battery-energy-storage. BUSINESS REPORT
IOL News
23-07-2025
- Politics
- IOL News
We need to ignore meaningless commissions and build on our hard-won freedoms
The irony of the map of Africa With reference to the spat between the ANC, EFF and MKP regarding Jacob Zuma's visit to Morocco, it is amusing to observe their defence of colonialism's biggest legacy in the light of their fervent anti-colonial rhetoric and historical "struggle" against colonialism. The territorial demarcation of the map of Africa is colonialism's most enduring legacy. The boundaries of colonies were the result of territorial and economic greed among the European colonisers, each scrambling in the late 19th century to aggrandize their empires. Through invasion and conquest, the intervention of European powers in Africa was a violent collision between Western and African cultures the aftershocks of which persist to this day. The biggest mistake the Organisation of African Unity (OAU) made on its formation in 1963 was its failure to redraw the map of Africa based on tribal and cultural integrity. Instead, the newly emancipated pursued power and prestige as presidents of the "states" bequeathed to them by colonialism. The only territory to break free of the colonial map is Eritrea – after a brutal and devastating 40- year war with Ethiopia. History shows that boundaries are not permanent. Eastern Europe's boundaries changed twice in the 20th century – post World War I and after the collapse of the USSR. Currently, separatist movements exist in Scotland and Spain. There is even one in the Western Cape. So it is ironic that the ANC, EFF and MKP are vociferous about preserving national sovereignty based on colonial boundaries. It's a pity that fondness does not extend to some of the worthwhile legacies of colonialism, such as medicine, education and infrastructure. | DR DUNCAN DU BOIS Bluff A tale of dreadful suffering and woe This is the most severe and devastating phase of starvation the Gaza Strip has experienced. Without exaggeration or distortion, the population is currently enduring a real famine. Humanitarian aid is virtually nonexistent. Available goods are extremely scarce and limited. Prices have reached astronomical levels, unaffordable even for those who still possess financial means. Most citizens, already exhausted by war and repeated displacement alerts, no longer have any money. The commission fees on withdrawing funds can be up to 45%. Numerous individuals have reported that for several days, they and their children have not eaten bread – the staple and often sole item on the table – because the price of 1kg of flour has reached $20 (R355). Other food items are simply inaccessible. Despite claims made nearly a month ago, when Prime Minister Netanyahu announced the allowance of humanitarian aid into Gaza – including the entrance of aid trucks through border crossings and the operations of Israeli-American companies distributing food in high-risk zones (which, according to the latest UN report, resulted in the deaths of 798 civilians) – the reality on the ground remains starkly different. From the beginning, we warned that these aid deliveries were nothing more than misleading media propaganda intended to silence international criticism and obscure the ongoing campaign of military extermination being carried out by the occupying forces .In truth, more than 80% of the population does not receive any of this aid due to multiple factors: The general scarcity of aid, widespread theft and looting along the supply chain and in storage facilities, and serious deficiencies in logistical organisation and distribution mechanisms. In practical terms, civilians in Gaza have been under total siege and subjected to deliberate starvation since March 2, 2025 – the date the occupying forces closed the border crossings. That was 131 consecutive days ago. Since then, nothing new has entered their homes. Moreover, the population has been completely deprived of all meat products, dairy, vegetables, and fruits. The limited aid that does arrive consists solely of canned goods, dried legumes, and starchy foods such as rice and pasta. Additionally, the complete lack of access to essential medications has led to thousands of preventable deaths. This is an urgent message to all concerned parties: Gaza's people are enduring one of the most extreme forms of starvation, torture, and denial of their basic human rights – especially of late. The narrative that aid is entering Gaza and reaching those in need is profoundly misleading. The reality is that most of the population – those who are paying the price with their lives and health – continue to be denied access to food and critical resources, while propaganda serves the interests of those benefiting from false claims about aid distribution. | Alaa (full name withheld) Gaza Strip Commissions of inquiry rarely of value A few weeks ago, South Africans heard serious allegations about the existence and operation of a sophisticated criminal syndicate that has allegedly infiltrated law enforcement structures. On Sunday, July 13, President Cyril Ramaphosa announced the formation of a commission of inquiry to focus on the shocking allegations made by KwaZulu-Natal police commissioner Nhlanhla Mkhwanazi and how the alleged deep-rooted corruption will be addressed. While I agree that the allegations must be attended to with the necessary diligence and that all parties must be given a fair chance to express themselves, citizens are tired of the many costly, time-consuming and unsuccessful commissions of inquiry. The most famous commission of inquiry, the Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector, also known as the Zondo Commission, has yet to see its recommendations fully implemented or justice served against those who benefited from the abuse of power and state capture. Instead of a 'leave of absence', Ramaphosa should have suspended Minister Senzo Mchunu as a deterrent measure, thoroughly investigated the allegations, and then, if proven on a balance of probabilities, dismissed the minister after a fair that have the potential to uncover the truth only matter if their findings lead to action and are backed by consequences, sanctions, and justice. | MOHAMED SAEED Pietermaritzburg We need to build on the freedoms we won As we navigate the complexities of our 30-year democracy, it's essential to remember the principles that guided our struggle for freedom and continue to shape our path towards a more just and equitable society. In South Africa, we have made significant progress since the dawn of democracy. We've built a Constitution that enshrines the rights and freedoms of all citizens, regardless of race, gender, or creed. We've made strides in promoting social justice, addressing the legacy of apartheid, and building a more inclusive economy. However, we still face significant challenges. Inequality, poverty, and unemployment remain pressing issues, and we need to work together to address them. As liberals, we believe that individual freedom, equality, and democracy are essential to creating a society where everyone can thrive. We need to promote economic growth, investment, and job creation, while ensuring the benefits of growth are shared fairly among all South Africans. We need to protect and strengthen our democratic institutions, ensuring that they remain accountable to the people and responsive to their also need to celebrate our diversity and promote social cohesion. South Africa is a rainbow nation, and our diversity is our strength. By embracing our differences and promoting tolerance, we can build a more harmonious and inclusive society. As liberals, we believe the answers to South Africa's challenges lie in our shared values of freedom, equality, and democracy. We need to work together, across party lines and sectors, to build a brighter future for all South Africans. Let us continue to uphold these liberal values, working together to build a South Africa where everyone can live with dignity, pursue their dreams, and contribute to the greater good. A South Africa where freedom, equality, and democracy thrive. | Thulani Dasa Khayelitsha DAILY NEWS
TimesLIVE
07-07-2025
- Health
- TimesLIVE
From Karachi to Gaza: Pakistani start-up ships prosthetics to child war survivors
CEO Anas Niaz said the social enterprise start-up had fit more than 1,000 custom-designed arms in Pakistan since 2021 — funded through a mix of patient payments, corporate sponsorship and donations — but this was its first time providing prosthetics to those affected in conflict. Sidra and three-year-old Habebat Allah, who lost both her arms and a leg in Gaza, went through days of remote consultations and virtual fittings. Then Niaz flew from Karachi to Amman to meet the girls and make his company's first overseas delivery. Sidra's device was funded by Mafaz Clinic in Amman, while donations from Pakistanis paid for Habebat's. Mafaz CEO Entesar Asaker said the clinic partnered with Bioniks for its low costs, remote solutions and ability to troubleshoot virtually. Niaz said each prosthetic arm costs about $2,500 (R44,416), significantly less than the $10,000 (R177,677) to $20,000 (R355,396) for alternatives made in the US. While Bioniks' arms are less sophisticated than US versions, they provide a high level of functionality for children and their remote process makes them more accessible than options from other countries such as Turkey and South Korea. 'We plan on also providing limbs for people in other conflict zones, such as Ukraine, and become a global company,' Niaz said. Globally, most advanced prosthetics are designed for adults and rarely reach children in war zones, who need lighter limbs and replacements every 12-18 months as they grow. Niaz said they were exploring funding options for Sidra and Habebat's future replacements, adding the cost wouldn't be too high. 'Only a few components would need to be changed,' he said, 'the rest can be reused to help another child.' Bioniks occasionally incorporates popular fictional characters into its children's prosthetics such as Marvel's Iron Man or Disney's Elsa, a feature Niaz said helps with emotional acceptance and daily use. Gaza now has about 4,500 new amputees, on top of 2,000 existing cases from before the war, many of them children, making it one of the highest child-amputation crises per capita in recent history, the UN humanitarian agency OCHA said in March. An April study by the Palestinian Bureau of Statistics found at least 7,000 children have been injured since Israel's war in Gaza began in October 2023. Local health authorities say more than 50,000 Palestinians have been killed, nearly one-third of them children. The World Health Organisation has said Gaza's health system is 'on its knees' with Israel's border closures drying up critical supplies, meaning the wounded cannot access specialised care, especially amid waves of wounded patients. 'Where it's nearly impossible for healthcare professionals and patients to meet, remote treatment bridges a critical gap, making assessments, fittings, and follow-up possible without travel or specialised centres,' said Asadullah Khan, clinic manager at ProActive Prosthetic in Leeds, UK, which provides artificial limbs and support for trauma patients. Bioniks hopes to pioneer such solutions on a large scale but funding remains a roadblock and the company is still trying to form viable partnerships. Sidra is still adjusting to her new hand, on which she now wears a small bracelet. For much of the past year, when she wanted to make a heart, a simple gesture using both hands, she would ask someone else to complete it. This time, she formed the shape herself, snapped a photo and sent it to her father, who is still in Gaza. 'What I'm looking forward to most is using both my arms to hug my father when I see him,' she said.
News24
23-04-2025
- Politics
- News24
IEC announces key developments on digital voting, party registration and political funding reforms
The Electoral Commission of SA (IEC) on Wednesday briefed the media on a series of initiatives aimed at "strengthening democratic processes", including the continued evaluation of digital voting, reforming party registration and improving political funding regulation. The IEC's chief electoral officer, Sy Mamabolo, said that while electronic voting continues to gain interest, assumptions about its cost-saving potential must be approached with caution. Mamabolo cautioned: A thorough analysis of the total costs associated with electronic voting must be undertaken. It must not be accepted as fact that digital voting would reduce the cost of administering elections. To this end, the IEC has begun a six-month public engagement process until September. During this period, stakeholders, civil society, voters and interest groups are invited to submit their views. These submissions will inform the drafting of a final policy document on electronic voting, which will be submitted to Parliament and the executive for consideration. Mamabolo confirmed that no independent candidates secured seats in last year's national and provincial elections. As a result, all representation in these legislatures remains with political parties. These 20 parties would receive R355 million from the national fiscus this current financial year. The funds will be disbursed quarterly, with about R83 million allocated every three months. The distribution would follow a prescribed formula: 90% of the funds are allocated proportionally based on the number of seats each party holds, while the remaining 10% would be distributed equitably among all represented parties. Despite the funding allocations, Mamabolo highlighted a noticeable dip in political fundraising activity. He noted: Fewer political parties declared donations above the R100 000 threshold compared to the period leading up to the elections last year. In response, the IEC will host the country's first symposium on political funding, set to take place in Durban on 18 and 19 June. The event, themed Sustaining Multi-party Democracy through Enhancing Political Funding Regulation, aims to spark national dialogue around the influence of money in politics, funding transparency, accountability and possible reforms to the regulatory framework. The symposium will bring together representatives from political parties, academia, legislative and executive bodies, NGOs, the media and international partners. Mamabolo said there are 609 registered political parties - 383 registered nationally and 226 either provincially or municipally. While registration confers certain benefits, it also imposes obligations. Parties without representation in any legislature must annually confirm their continued existence with the IEC. In February, the commission issued formal notices to 192 inactive parties, informing them of the intent to cancel their registration. By the deadline, 136 parties responded and requested to retain their status, while three requested deregistration. However, 53 parties failed to respond and now face cancellation. These parties will have to reapply from scratch should they wish to register again. This includes publishing a notice of intention to register in the Government Gazette or a local newspaper, waiting 14 days, and gathering the required supporting signatures. Mamabolo noted that parties such as the SACP had made timely representations to preserve their registration status. As South Africa approaches the 31st anniversary of its first democratic elections on 27 April, Mamabolo reflected on the progress made and the role of the IEC in ensuring free and fair elections. "The day not only marks a break with our past; it also memorialises the beginning of our nation's journey towards a democratic society," he said.
