Why wind is underutilized in Pakistan for power generation? KARACHI: Pakistan’s power generation has plummeted to its lowest in over three years. February 2024 saw a significant 14% month-on-month (MoM) decrease, with the generation clocking in at just 7,130 gigawatt-hours (GWh). This downturn marks the most substantial dip since mid-2020, underscoring a worrying trend in…
CleanTech Lithium produces lithium chloride eluate from its pilot plant
LONDON: CleanTech Lithium PLC, a lithium exploration and development company, has announced the successful commencement of operations at its pilot plant in Chile. The plant, which is part of the Laguna Verde project, has begun producing lithium chloride eluate through the Direct Lithium Extraction (DLE) process. Key Milestones Achieved: This development marks a significant step…
PYX Resources marks milestone with first ilmenite shipment to China
LONDON: PYX Resources Ltd (NSX: PYX | LSE: PYX), recognized as the world’s third-largest publicly listed zircon producer based on resources, has successfully completed its first shipment of ilmenite. The company announced the export of 1,040 tonnes of ilmenite, which contains 45% titanium dioxide (TiO2), to a client located in Zhanjiang, Guangdong Province, China. This…
PayPoint and Lloyds Bank seal expansion deal to boost SME growth
LONDON, UK: PayPoint Plc and Lloyds Bank announced a major partnership expansion, which will see Lloyds Bank Cardnet become the main card acquiring partner across the PayPoint Group’s extensive network of over 60,000 SME and retailer partners. The expanded partnership, going into pilot in Q2 FY24/25, with a full launch expected in Q3 FY24/25 (subject…
Johnson Matthey to sell Medical Device Components business to Montagu for $700 million
LONDON, UK: Johnson Matthey Plc (JM) has signed a definitive agreement to sell 100% of its Medical Device Components business (MDC) to Montagu Private Equity for cash consideration of US$700 million (£550 million) on a cash free debt free basis. The Medical Device Components business produces components for medical device manufacturers globally with a focus…
PRM Services makes on-market bid to acquire Sierra Rutile Holdings
SYDNEY, AUSTRALIA: Canaccord Genuity (Australia) Limited, acting as the Bidder’s Broker, has announced an unconditional on-market offer to acquire all available shares of Sierra Rutile Holdings Limited (SRX) at a cash price of A$0.095 per share. The offer, initiated by PRM Services LLC, aims to purchase up to 375,609,090 SRX Shares that are currently listed…
BPH Global’s top brass on strategic business tour in Malaysia and China
SYDNEY: To bolster its market presence, BPH Global Ltd (ASX: BP8) CEO Matthew Leonard and CFO Chow Yee Koh are currently on a strategic tour in Malaysia and China. The two-week trip, which began last week, is aimed at fortifying the company’s bird’s nest and hemp operations in the region. The journey, which also includes…
Gratifii signs deals with EML Payment to boost gift card services in Australia
SYDNEY: Gratifii Limited (ASX:GTI), a prominent loyalty and rewards enterprise, has announced the signing of two pivotal agreements with EML Payment Solutions Limited, a subsidiary of EML Payments Limited (ASX:EML). These agreements aim to enhance Gratifii’s offerings in the Australian market by delivering prepaid debit cards and expanding reward options for EML’s clientele. A 3.5-year…
Pepper Money buys remaining 35% of Stratton Finance for $42 million
SYDNEY: Pepper Money Limited (ASX: PPM) has exercised the call option over the remaining 35% stake in Stratton Finance Pty Limited. As previously announced, Pepper Money completed the acquisition of the 65% interest in Stratton on 1 July 2022. At the same time, the parties also entered into a Put and Call Option in relation…
Perseus Mining ups takeover bid offer for OreCorp to A$0.575 per share
SYDNEY, AUSTRALIA: OreCorp Limited has announced receiving a revised takeover offer from Perseus Mining Limited. The new proposal suggests an increased bid of A$0.575 per share. The offer is contingent upon the OreCorp Board’s recommendation post fulfillment of specific conditions outlined in the Target’s Statement. Major shareholders have signaled their approval of the amended offer….
Adacel secures $6.7 million FAA contract for air traffic control training
Melbourne: Adacel Technologies Limited, a leading provider of Air Traffic Management (ATM) and Air Traffic Control (ATC) simulation and training solutions, has been awarded a significant contract by the Federal Aviation Administration (FAA). The Firm Fixed Price contract, with a potential five-year duration, is valued at an estimated USD$6.7 million. Under the terms of the…
SCEE secures over $70 million in electrical and data centre contracts
SYDNEY: Southern Cross Electrical Engineering Limited (SCEE Group) has announced a series of lucrative contracts across New South Wales and Western Australia, totaling over $70 million. The awards signify SCEE Group’s expanding footprint in the data centre and resources sectors. In New South Wales, Heyday has been entrusted with a major electrical design and construction…