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‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge 

By: Terence Creamer     26th May 2016 Government would, within weeks, finalise a “fair pricing” agreement with steel producer ArcelorMittal South Africa (AMSA) and establish a “steel committee” to monitor implementation of the formula, which would be based on a basket of selling prices in Europe, Asia and North America. Department of... 

Ascendis Health acquires two European firms for R7.3bn

By: Creamer Media Reporter      24th May 2016 As part of its international growth strategy, JSE-listed Ascendis Health has acquired two major European health and care businesses, Remedica Holdings and Scitec International, for a combined R7.3-billion. “Our strategy is to complement growth in the domestic health and care market through... 

Atlas Copco Road Construction Equipment appoints new equipment & aftermarket dealer

     24th May 2016 Dynapac Road Construction Equipment, a division of Atlas Copco Construction Technique, brings its product and service solutions offering closer to customers around the country through the appointment of MB Plant SA (Pty) Ltd as its official equipment and aftermarket dealer. Quality products and... 

Global steel production down 0.5% y/y in April

By: Samantha Herbst     23rd May 2016 Despite clawing its way back in recent months from a brief slump in January and February, global crude steel production fell 0.5% year-on-year to 135-million tonnes in April, according to the World Steel Association’s (worldsteel’s) crude steel production report for April. South America was... 

Alternative fundraising model seen flourishing but regulatory issues could stifle uptake in South Africa

By: Mia Breytenbach     20th May 2016 The mining industry is facing increasing risk aversion from equity and debt investors, owing to testing circumstances in the depressed global market, particularly with regard to falling commodity prices, slower economic growth in China and reduced mining production. Owing to traditional funding... 

New antibacterial gel can save thousands in developing countries

     20th May 2016 A new antiseptic chlorhexidine gel – antibacterial gel – that can prevent umbilical cord infections (omphalitis) in newborn infants in developing countries has been granted an encouraging scientific judgement from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines... 

Upbeat Corsa Coal narrows Q1 net loss as prices rise

By: Henry Lazenby     19th May 2016 US coal producer Corsa Coal has narrowed its first-quarter net loss to $8.29-million, up from a loss of $25.62-million in the comparable quarter ended March 31 a year earlier, despite falling sales and revenues. The company believed that January marked a 12-year bottom for metallurgical coal... 

Pacific American raises funding for Elko project by selling GCI interest

By: Mariaan Webb     19th May 2016 Australia-listed junior Pacific American Coal has announced the sale of its equity interest in GCI, the owner of the P8N operating mine in the US, to provide funding for its coking coal project, in Canada. Pan American would receive A$1-million for its 30% stake in the US company, recovering its... 

Stanmore Coal reopens Isaac Plains mine

By: Samantha Herbst     18th May 2016 Defying the current downturn in the global coal sector, ASX-listed junior coal miner Stanmore Coal became Australia’s newest coking coal producer on Wednesday, after Queensland Premier Annastacia Palaszczuk officiated the reopening of the Isaac Plains mine, in the Bowen basin. Stanmore restarted... 

African airlines suffer from excessive capacity and need smaller planes

By: Keith Campbell     13th May 2016 Brazilian aerospace group Embraer, one of the world’s four biggest commercial aircraft manufacturers, has forecast that African operators will acquire 240 new jet airliners in the 70- to 130-seat category over the next 20 years. “Africans are turning progressively to air travel,” noted Embraer... 

Technology firms deploy digital solutions to combat rhino poaching

By: Schalk Burger     13th May 2016 South Africa-based information and communication technology firm Dimension Data and networking multinational Cisco have installed secure intelligent networks and analytical systems at a game reserve to combat rhino poaching. The first phase, conducted in close consultation with game rangers,... 

Anglo dangles goody-two-shoes Grosvenor to lure coal buyers

By: Martin Creamer     12th May 2016 At most other times in the mining cycle, news of the sale of a goody-two-shoes metallurgical coal asset like Australia’s Grosvenor would have had buyers queuing up to buy. But disposal of even alluring resources in today’s uncertain and low-price environment needs to be accompanied by an enticing... 

Greater investor interest in ETFs drives gold demand to record levels in Q1

By: Mia Breytenbach     12th May 2016 Global gold demand reached 1 290 t in the first quarter of 2016 – a 21% year-on-year increase and the second-highest quarter on record, according to the World Gold Council’s (WGC’s) latest Gold Demand Trends (GDT) report. The higher demand was driven by significant inflows into exchange-traded... 

Global energy consumption forecast to rise 48% by 2040 – EIA

By: Henry Lazenby     11th May 2016 The world’s hunger for energy is insatiable and is expected to rise by about 48% between 2012 and 2040 – an increase of about 1.4% a year, as global economies grow and populations expand. The US-based Centre for Strategic and International Studies on Wednesday published its updated projections of... 

New-car prices to jump by around 15% this year – Naamsa

     11th May 2016 Consumers should brace themselves for a sharp increase in new-vehicle prices. Rand weakness would probably see new-vehicle prices increase by between 12% and 15% – or more – in 2016, said the National Association of Automobile Manufacturers of South Africa (Naamsa) in its first quarter business... 

South East Asia venture 'part and parcel' of Denel’s growth strategy

By: Samantha Herbst     11th May 2016 Continuing to defend its joint venture (JV) with steel manufacturing group VR Laser Services to establish Denel Asia, State-owned defence industrial group Denel told the Portfolio Committee on Public Enterprises in Parliament on Wednesday that its decision to extend its business footprint in... 

Limpopo receives R940m investment for renewable energy from US, Chinese companies

By: African News Agency      11th May 2016 American and Chinese companies are set to invest R940-million in Limpopo to pursue renewable energy and ethanol profits, government and investors have announced. The United States’ Bio-Processing Innovation and the Beijing Singling Technology Centre said on Tuesday that they had discovered a... 

New deal places platinum bars, coins within reach

By: Martin Creamer     11th May 2016 The World Platinum Investment Council (WPIC) and Valcambi on Wednesday announced a partnership to increase the availability of platinum bar and coin products for the global retail market, marking the latest in a series of new strategic initiatives by the world platinum body to stimulate further... 

Denel’s Venture In South East Asia Forms Part Of Global Growth Strategy

     11th May 2016 Denel is increasingly looking at export sales including in the rapidly-expanding Asia-Pacific region -- in terms of its mandate to create a financially self-sustainable defence business, Mr Odwa Mhlwana, acting Group Chief Financial Officer, told the Portfolio Committee on Public Enterprises in... 

Africa needs dramatically upscaled infrastructure and regional integration to drive industrialisation, says dti chief

     6th May 2016 In a constantly evolving and increasingly interdependent world, Africa and its 34 Least Developed Countries (LDCs) urgently need to find the best ways to industrialise their economies to avoid being further marginalised and excluded from the global economy for yet another decade in history. For... 

Tyrexpo Africa introduces new knowledge exchange platforms

By: Mia Breytenbach     6th May 2016 To tap into opportunities of the South African automotive industry transforming itself into a global engine for the manufacturing and export of vehicles and components, the tyres, automotive repairs and maintenance and accessories exhibition Tyrexpo Africa introduced three new business segments... 

Type MSIB™ microPEM® Brass Inserts Provide Reusable Metal Threads to Attach Plastics Securely in Compact Electronic Assemblies

     4th May 2016 Type MSIB™ microPEM® brass inserts from PennEngineering® provide reusable metal threads to attach plastics securely in compact electronic assemblies.  Their unique symmetrical shape will accommodate either straight or tapered holes and eliminates any need for orientation of the inserts during... 

Growth is a thirsty business, World Bank water report warns 

By: Terence Creamer     3rd May 2016 A new World Bank report warns that some regions of the world, including parts of Africa, could see their growth rates decline by as much as 6% by 2050 as a result of water-related losses, with water scarcity also exacerbated by climate change. Titled ‘High and Dry: Climate Change, Water and the... 

Company prepared for civil projects decrease

By: Nadine James     29th April 2016 Construction chemicals producer Chryso Southern Africa continues to innovate and expand, offsetting the decrease in major civil projects. Chryso Group VP and Chryso South Africa (SA) CEO Norman Seymore notes that, aside from a few high-profile building projects in high-income areas, the... 

Cliffs rallies as strong Q1 performance sees it back in the black

By: Henry Lazenby     28th April 2016 The largest US iron-ore producer Cliffs Natural Resources rallied as much as 35% to $5.38 a share on the NYSE on Thursday, after swinging to a first-quarter profit amid sustained market improvement. For the three months ended March 31, Cliffs recorded net income attributable to Cliffs' common... 

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook

By: Henry Lazenby     26th April 2016 A 17% rally in the price of gold during the first quarter of the year to around $1 270/oz happened too rapidly according to market analysts at Thomson Reuters GFMS, as poor demand from Asia would probably see the gold price fall below $1 200/oz over the next few months. However, this price level... 

Mall of Africa – a feast for the eyes, hearts and bellies!

     26th April 2016 Atterbury, South Africa’s leading property developer and investor, will be opening the doors to the R5-bllion Mall of Africa this week to reveal a whole new world of shopping, as well as a magnificent assortment of new entertainment, leisure and dining options. With a choice of 300-plus stores,... 

Africa-Asia trade prompts new subsea cable talk

By: News24Wire      25th April 2016 Growing trade between Africa and Asia has prompted talk of a new mega subsea broadband cable along Africa’s eastern coastline, says Hong Kong ICT firm PCCW. Last week, PCCW said it along with Telkom, MTN, Saudi Telecom Company (STC) and Telecom Egypt (TE) signed a memorandum of understanding to... 

Nothing wrong in working with legal businesses, even with the Guptas – Denel

By: News24Wire      25th April 2016 There is nothing wrong in working with any registered, legally trading business in South Africa, whether it's with the Guptas or others, the Denel board of directors said on Saturday. This follows allegations that the board “brought the Gupta family into Denel”. City Press reported last week that... 

Hulamin still frustrated by lack of aluminium tariff protection

By: African News Agency      22nd April 2016 Hulamin on Thursday expressed its continued frustration at the lack of tariff protection against cheaper imports as metals price remained weak, resulting in a significant negative impact on the financial performance of the company. Hulamin chairperson, Mafika Edmund Mkwanazi, in a statement said... 

Global steel production decline slows in March

By: Natasha Odendaal     20th April 2016 After starting the year on a positive upward growth trend, South Africa’s crude steel production in March plunged 14.8% year-on-year to 536 000 t, with output during the first quarter of the year falling some 16.5% to 1.5-million tonnes. Overall global crude steel production by the aggregate 66... 

Denel to sign two landmark agreements with Malaysia counterparts

By: Samantha Herbst     20th April 2016  State-owned defence industrial group Denel will be signing two landmark agreements with counterparts in the Malaysian industry during this week’s Defence Asia Exhibition – DSA2016 – in Kuala Lumpur.   The agreements formed part of the offset arrangements contained in the 2012 contract to supply... 

Wind growth to taper in 2016 after ‘spectacular’ 2015

By: Terence Creamer     19th April 2016 The growth of wind-energy installations in 2016 is unlikely to match the unexpectedly strong 22% expansion of 2015, when a record 63.4 GW was added internationally, Global Wind Energy Council (GWEC) secretary general Steve Sawyer said on Tuesday. Speaking during a RenewableEnergyWorld.com webcast... 

Five-day audit test of St Helena Airport completed

By: Natasha Odendaal     15th April 2016 The Bombardier Challenger 300 aircraft that made the inaugural flight to St Helena Airport (HLE), in the south Atlantic Ocean, returned to its Lanseria, Johannesburg, base on Friday, following a successful five-day audit run, global business aviation organisation ExecuJet Africa said. The... 

Global stainless steel output contracts 0.3% y/y in 2015

By: Natasha Odendaal     15th April 2016 Global stainless steel and heat-resisting melt shop production for 2015 edged down some 0.3% year-on-year to 41.5-million tons, with declines across the board - barring Asia with the exception of China - the latest figures from the International Stainless Steel Forum (ISSF) showed. Data from... 

Denel says it seeks to resolve 'misunderstandings' with National Treasury

By: Keith Campbell     14th April 2016 State-owned defence industrial group Denel issued a press release on Thursday stating that it will continue to discuss with National Treasury the issue of its joint venture with private sector South Africa company VR Laser, to create a Hong Kong-based company to be called Denel Asia, to resolve... 

No room for complacency in capturing resources investment – Australia PM

By: Esmarie Swanepoel     12th April 2016 Australian Prime Minister Malcolm Turnbull has acknowledged that the Australian government needed to do more to provide a secure and attractive investment environment for global resources companies. Opening the eighteenth liquefied natural gas (LNG) conference, in Perth, on Tuesday, Turnbull... 

Gold mining remains ‘robust’ contributor to Ghana’s economy despite price, output slides of recent years

By: Mia Breytenbach     8th April 2016 Given an optimal investment climate and enhanced exploration activities, Ghana has the unique opportunity of maintaining its position as an attractive mining investment destination, notwithstanding the significant challenges confronting the industry, particularly the price of gold, avers Canadian... 

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