Latest news with #Resolute
The Hindu
22-05-2025
- Business
- The Hindu
SixUnited, Resolute Group ink pact to jointly manufacture tablets, PCs and laptops in Telangana
Hyderabad-headquartered Resolute Group and Chinese consumer electronics and intelligent networking solutions firm SixUnited signed a strategic agreement to jointly manufacture tablets, personal computers (PCs) and laptops in Telangana. The agreement, which Resolute described as a landmark move that will elevate India's global standing in electronics manufacturing, was signed on the sidelines of Computex Taipei, a prestigious trade show for information and communication technologies globally. A high-level delegation represented Telangana at the exhibition to showcase the State's progressive electronics manufacturing ecosystem. This collaboration is a major stride towards Make in Telangana mission, which aims to strengthen domestic production capabilities and enhance global exports, Resolute said in a press release without sharing details of the likely investment and number of jobs to be generated. The agreement was executed as part of a special initiative by Telangana government and formally signed by SixUnited CEO Michael and senior V-P of Resolute Group Sachin Batra in the presence of the Group's CMD Raminder Singh and Telangana government Industry & Investment Cell and SPEED (Smart Proactive Efficient and Effective Delivery) additional CEO E.V. Narasimha Reddy. The collaboration is expected to generate significant employment, facilitate advanced technology transfers and further reinforce India's emergence as a high-tech electronics manufacturing hub on the global map. SixUnited is a one-stop solution provider for global consumer electronics and intelligent networking products and brings expertise across research and development, design, manufacturing and operational services. Its product line spans notebooks, tablets, mini PCs, AIOs, PC peripherals, servers, IoT solutions and industrial control systems. It is known for pioneering innovations across smart infrastructure domains including smart cities, supercomputing, transportation, healthcare, and education. For more than 25 years, Resolute Group has been providing electronics manufacturing services to international brands, the firm said.
Yahoo
08-05-2025
- Business
- Yahoo
Elon Musk Runs Into More Trouble Out West After White House Exit
For nearly three months. Elon Musk cut a swath through the nation's capital with little care for rules or tradition. Literally and metaphorically, he took a chainsaw to some of America's great institutions. And then he did what he often does. He left. Now it's up to the lawyers, judges, and bean counters to make sense of what's left behind. His Department of Government Efficiency guerrilla raids on the heart of government no doubt uncovered some waste and fraud, although not nearly as much as he predicted. Elon Musk holds a chainsaw reading Musk's original boast of slashing $2 trillion ended with a more somber figure approaching $150 billion. When considering the sheer scale of the state's entitlement programs, the savings remains a drop in the ocean of public spending. Besides, it's not really saving money that drives the world's richest man. It's making it. It's not altogether clear why the Batman and Robin partnership in the White House ended so suddenly. There was no joker in the pack waiting to usurp Musk. But the television producer in Donald Trump knew that the pilot presidency had run its course, and the chaos theory that surrounded Musk could not last four months, let alone four years. The X factor simply could not be controlled, whether it was letting his son wipe boogers on the Resolute desk or ripping into Cabinet members in the West Wing. Government sums need to add up, however large. Even deficits fit into a column. Grand gestures don't balance the books. And Musk, 53, could never get his head around the fact that he couldn't do as he pleased. Too many people were watching this time. Too many people didn't like what he was doing. His businesses were bleeding, and it just wasn't fun anymore. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. /Sources say there was no big farewell. No drama. It was time. And it won't be long before Musk's DOGE minions follow him onto the next big thing. 'The president genuinely wishes him well,' said one White House insider. 'I'm not exactly sure about everyone else.' Out of sight, remarkably, has meant out of mind. He is still posting obsessively on his X platform, and it's not that people don't care; it's just not as relevant when he isn't peddling Teslas by the Rose Garden or playing air guitar at Trump rallies. Few could question Musk's brilliance. His business empire reflects the choices of a wildly imaginative child. Electric cars, space ships, robots, social media…tunnels. But his departure to his new six-bedroom, 6,900-square-foot mansion in Texas does offer some insight into the mind and the madness of Musk. It couldn't be more different than the shining beacon on the hill. For a start, it's in a dip. If the original pioneers were choosing a safe place to rest in Texas on the way out West, they couldn't pick a worse spot. 'The property sits on an uneven topography and the actual home sits below street level resulting in clear, unobstructed views of the home and the yard from the street; thus, unless there is a physical barrier in place, the property would be completely exposed and would compromise the resident's security and privacy,' says a report by the planning commission in West Lake Hills, the suburb of Austin, where Musk bought his not-so-hideaway home in 2022. In some countries, the term 'cowboy' has connotations other than a hard-working, Marlborough-smoking cattle herder on his trusty steed. It can mean someone with a contempt for the rules. Musk built a massive border around his Texas property to keep out prying eyes. He has two other properties in the area, and there is speculation he wants to raise his growing brood of children in the Lone Star State. But he didn't bother with the permits. The pedestrian gate and surrounding wall are 9 feet 2 inches high—3 feet 2 inches higher than allowed—and a fence along the property line is 16.5 feet in height, which is 10.5 feet higher than permitted. All in all, there were six code violations. Kenan Thompson, host Elon Musk, and Kyle Mooney during the Now his neighbors are complaining, and someone has to clean up the mess. Tisha Ritter, who is representing Musk, wrote to the West Lake Hills City Council to try and strike a deal to get around the violations. 'Our request is driven by the necessity to address critical security concerns rather than aesthetic or commercial interests,' Ritter wrote on March 3. 'As a high profile public official, the property's resident faces ongoing security threats, making proactive safety measures imperative. 'The existing fencing and gate system were thoughtfully designed to provide essential protection while preserving the neighborhood's character and minimizing impact on surrounding properties.' The neighbors weren't impressed. They opposed 'any and all variances request to be granted,' according to a local news outlet. Three homeowners wrote letters to the council rejecting any compromise. One of them, Paul Hemmer, said any allowances made would 'do nothing but just facilitate their bad behavior on our quiet little cul-de-sac, which at times appears to be a parking lot with many cars parked every which way. 'Shift change happens three times a day, with cars coming and going, along with most of these employees ordering food deliveries all hours of the night and day,' Hemmer said at the meeting. 'I'm astounded that the staff is putting forth any kind of suggestion that we bend based on who is asking, because Westlake is full of important people,' one planning commissioner was reported as saying about the area. 'We are not here to judge personal needs of the occupants. We're here to judge physical needs of the land.' The planning commission voted against making any exceptions for the billionaire owner. Musk will have to wait until a June 11 planning meeting to discover if he will be ordered to take down the fence and start again. If only it were so easy for the federal government to get a makeover for the devastation wreaked in Washington by one man's relentless crusade for change.
Hindustan Times
02-05-2025
- Politics
- Hindustan Times
Donald Trump and grandson Theo recreate John F. Kennedy's historic photo in Oval Office
Ivanka Trump recently offered a glimpse into her family's private moments by sharing a series of photos from the past month, including one that sparked nostalgia and drew attention online. One photo featured her eight-year-old son Theo playfully poking his head out from the door at the front of the famed Resolute desk inside the Oval Office. Sitting behind the desk is US President Donald Trump, 78, smiling and wearing his signature 'Make America Great Again' cap. Also read: Grandpa Donald Trump enjoys Theo's original composition at White House in Ivanka Trump's touching video The image was a clear nod to an iconic photograph of President John F. Kennedy and his son, John F. Kennedy Jr., who was once pictured playing under the same desk. That original moment, captured by Look magazine photojournalist Alan Stanley Tretick, remains one of the most endearing and widely recognised White House family portraits. The picture session was held in October 1963 when President Kennedy invited Tretick into the Oval Office for a family shoot while he was mourning the loss of his prematurely born child. The desk, known as the Resolute desk, has a rich history of its own. Crafted from the oak timbers of the British ship H.M.S. Resolute, it was presented to President Rutherford B. Hayes by Queen Victoria in 1880, according to The White House Historical Association. Despite its popularity today, the desk wasn't always housed in the Oval Office. It was initially placed in the President's Office on the Second Floor of the Residence from 1880 to 1902. A major alteration came in 1945 when a rear kneehole panel featuring the Presidential Coat-of-Arms was added, a version first used by President Harry S. Truman. It was President Kennedy who later requested the desk be moved to the Oval Office. Not every leader, however, chose to use it; Presidents Johnson, Nixon, and Ford all opted for different desks during their terms. The desk also features a brass plaque detailing the journey of its creation, from the breaking of the ship to its gifting to President Hayes. Ivanka shared another touching moment from the White House, a video of young Theo debuting his first original piano composition. Dressed in an off-white suit, Theo sat confidently at the keys of a historic Steinway grand piano as his grandfather, Donald Trump, watched on with pride. ''Theo debuting his first original composition for Grandpa last night at The White House,'' Ivanka captioned the video. The piano, presented to President Franklin D. Roosevelt in 1938 by Theodore Steinway, is also steeped in American history. As per The White House Historical Association, it features gold leaf designs depicting five traditional American musical scenes, including a New England barn dance, a cowboy strumming his guitar, the Virginia reel, two Black field workers clapping and dancing, and an Indigenous ceremonial dance. Its three mahogany legs are shaped like American eagles. The piano has been placed in the White House entrance hall since 1989 and is frequently used by members of the Marine Band during official gatherings. Also read: '110-hour weeks, hospitalised, then fired': Junior bankers at US firm say brutal work culture led to organ failure
Business Insider
01-05-2025
- Business
- Business Insider
AngloGold Ashanti agrees sale of Cote d'Ivoire projects to Resolute Mining
AngloGold Ashanti (AU) has agreed to sell its interests in two gold projects in Cote d'Ivoire to Resolute Mining (RMGGF) as it continues to sharpen its focus on its operating assets and development projects in the U.S. The company will sell Centamin West Africa, or CWAH, which owns the Doropo Project and the Archean-Birimian Contact Project in Cote d'Ivoire, to Resolute. AngloGold Ashanti acquired an indirect interest in the Projects when it acquired Centamin plc in November 2024. There are no conditions to completion of the Sale, which is scheduled to occur on 1 May. In connection with the Sale, AGA will also acquire Toro Gold, which owns the titles to the Mansala Project in Guinea, from Resolute. The Mansala Project is adjacent to AGA's Siguiri mine in Guinea and it is anticipated to be developed as a brownfields project to provide an additional ore source to AngloGold Ashanti's Siguiri operations. The acquisition is subject to several conditions which must be satisfied within 18 months from the completion of the Sale, failing which the acquisition will lapse. The value of the consideration for the sale of the Doropo Project is $175M, comprising a cash payment of $150M, plus either the acquisition of the Mansala Project or an additional amount of $25M if the acquisition cannot be completed within 18 months. The consideration for the sale of the Doropo Project is to be paid in three tranches: $25M in cash on completion of the sale; $50M in cash 18 months after completion of the Sale, plus an additional $25M if the acquisition cannot be completed within those 18 months; and $75M in cash 30 months after completion of the sale. The consideration for the sale of the ABC Project comprises a milestone payment of $10M in cash on declaration of a JORC-compliant 1.0 Moz Mineral Reserve on the current ABC Project tenements, and a 2% Net Smelter Royalty over any gold production from any Mineral Resource on the current ABC Project tenements.
National Post
30-04-2025
- Business
- National Post
AngloGold Ashanti Agrees Sale of Côte d'Ivoire Projects
Article content LONDON & DENVER & JOHANNESBURG — AngloGold Ashanti plc ('AngloGold Ashanti', 'AGA' or the 'Company') has agreed to sell its interests in two gold projects in Côte d'Ivoire to Resolute Mining Limited ('Resolute') as it continues to sharpen its focus on its operating assets and development projects in the United States. Article content Article content The Company will sell Centamin West Africa Holdings Limited ('CWAH'), which owns the Doropo Project and the Archean-Birimian Contact ('ABC') Project in Côte d'Ivoire (collectively, the 'Projects'), to Resolute, which has extensive operational experience in West Africa (the 'Sale'). The breakdown of the consideration for the Sale is detailed below. Article content AngloGold Ashanti acquired an indirect interest in the Projects when it acquired Centamin plc in November 2024. Following a Company review to determine how best to maximise value from the Projects, it was determined that the scale of the Doropo Project, as well as competition for capital with other development projects in the AngloGold Ashanti portfolio, meant it would benefit more from ownership by a company with the requisite operational focus and financial capacity to advance its development in a timely manner. Given Resolute's focus on Côte d'Ivoire, the ABC Project, an early-stage exploration project has been included as part of the Sale. Article content 'This transaction ensures we maintain our focus on disciplined capital allocation and driving efficiencies from our existing portfolio,' said AngloGold Ashanti CEO Alberto Calderon. 'It also ensures these Projects are in good hands, to benefit all stakeholders.' Article content There are no conditions to completion of the Sale, which is scheduled to occur on 1 May 2025. Article content In connection with the Sale, AGA will also acquire Toro Gold Guinée Sarlu ('TGG'), which owns the titles to the Mansala Project in Guinea, from Resolute (the 'Acquisition'). The Mansala Project is adjacent to AGA's Siguiri mine in Guinea and it is anticipated to be developed as a brownfields project to provide an additional ore source to AngloGold Ashanti's Siguiri operations. Article content The Acquisition is subject to several conditions, including the renewal of the TGG permits and the approval of the Government of Guinea. Such conditions must be satisfied within 18 months from the completion of the Sale, failing which the Acquisition will lapse. Article content The value of the consideration for the sale of the Doropo Project is US$175 million, comprising a cash payment of US$150 million, plus either (i) the acquisition of the Mansala Project or (ii) an additional amount of US$25 million if the Acquisition cannot be completed within 18 months as described above. The consideration for the sale of the Doropo Project is to be paid in three tranches as follows: Article content US$25 million in cash on completion of the Sale; US$50 million in cash 18 months after completion of the Sale, plus an additional US$25 million if the Acquisition cannot be completed within those 18 months; and US$75 million in cash 30 months after completion of the Sale. Article content The consideration for the sale of the ABC Project comprises a milestone payment of US$10 million in cash on declaration of a JORC-compliant 1.0 Moz Mineral Reserve on the current ABC Project tenements, and a 2% Net Smelter Royalty over any gold production from any Mineral Resource on the current ABC Project tenements. Article content The Doropo Project, which comprises seven exploration permits, covering an area of approximately 1,850km 2, is in the northeast of Côte d'Ivoire, approximately 480km north of Abidjan. The licence covers 13 gold deposits, 11 of which are concentrated within a 7km radius and are referred to as the Main Resource Cluster. Article content A pre-feasibility study was completed in 2023 and the definitive feasibility study ('DFS') in 2024. The Doropo Project has received regulatory approval for its Environmental and Social Impact Assessment and the environmental permit was awarded in June 2024. The application for the Mining License has been submitted to the Ivorian authorities and is pending. Article content The Doropo Project (on a 100% basis) has exclusive Measured & Indicated Mineral Resource of 0.9Moz at an average grade of 1.02g/t, Inferred Mineral Resource of 0.3Moz at an average grade of 1.23g/t and Proven & Probable Mineral Reserve of 1.9Moz at an average grade of 1.53g/t. Article content Based on the DFS, the Doropo Project, once developed, is expected to have average annual gold production of 167koz over a 10 year mine life. Article content ABOUT THE ABC PROJECT Article content The ABC Project is in northwest Côte d'Ivoire, approximately 550km northwest of Abidjan and 460km west of the Doropo Project. This is an early stage greenfield exploration project, consisting of three permits, covering an area of 1,148km 2. The ABC Project has a 1.6Moz Inferred Mineral Resource at an average grade of 0.98g/t. Article content Resolute is an African-focused gold miner with more than 30 years of experience as an explorer, developer and operator of ten gold mines which have produced more than 9.0Moz of gold. Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG. It currently owns two producing gold mines: the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal. Resolute is also active in exploration with drilling campaigns underway across its African tenements with a focus on Mali, Senegal and Guinea. Article content Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as 'believe', 'expect', 'aim', 'anticipate', 'intend', 'foresee', 'forecast', 'predict', 'project', 'estimate', 'likely', 'may', 'might', 'could', 'should', 'would', 'seek', 'plan', 'scheduled', 'possible', 'continue', 'potential', 'outlook', 'target' or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. Article content Article content Article content Article content Article content Contacts Article content Media Article content Article content Article content
