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The Citrus Growers Association of Southern Africa has said citrus fruit quality for 2024 looks excellent, and the harvesting timing is expected to be normal. CEO Justin Chadwick said overall, an increase in export volume is expected. “This is a testament to the resilience of South African citrus growers, who produce more citrus under challenging circumstances, such as steep increases in input costs, load shedding, and deteriorating public infrastructure. This increase is also a result of younger trees coming into production across several regions.” The current prediction is that 37,9 million (15kg) cartons of lemons will be exported to key…

The prices of copper and zinc declined, while that of gold increased in 2023 over 2022. The average price of copper dropped by 3.8% to U$8490 per metric tonne in 2023. This was on the back of declining demand, especially from China. Meanwhile, zinc prices dropped by 23.8% to an average of US$2653 per metric tonne in 2023, chiefly attributed to weak demand, notably from China, Bank of Namibia statistics showed this week. On the positive side, the gold price increased by 7,9% to an average of US$1943 per ounce in 2023, mainly on the back of safe-haven demand driven…

The value of Electronic Funds Transfers (EFTs) transactions processed by Namclear was significantly higher in 2023 than in 2022. EFT transactions processed increased to 27 million, valued at N$388 billion, which represents a 9% increase in volume and a 10% increase in value. Namclear is the Namibian Automated Clearing House (ACH) and is a designated Financial Markets Infrastructure (FMI) for the Namibian Payment Industry. It provides local clearing of interbank transactions, such as electronic fund transfers, card payments, and settlements on behalf of participants through the Namibian Interbank Settlement System (NISS), with the Bank of Namibia. The Bank of Namibia…

Paladin Energy Ltd has announced that uranium concentrate production and drumming were achieved at the Langer Heinrich Mine (LHM) on 30 March 2024. The company said focus will now shift to production ramp-up and building a finished product inventory, ahead of shipments to customers. As part of the transition to production, Paladin’s Chief Operating Officer, Paul Hemburrow will assume responsibility for all LHM activities. Paladin said it will provide guidance for the 2025 financial year on LHM operational parameters in July this year. “Achieving first production at the Langer Heinrich Mine is an important milestone for Paladin. I would like…