http://www.engineeringnews.co.za
R/€ = 16.89 Change: -0.01
R/$ = 14.38 Change: -0.01
Au 1199.08 $/oz Change: 0.64
Pt 827.50 $/oz Change: -0.91
 

Topic

Citi sees 'copper on steroids' as Trump slump masks shortage

By: Bloomberg     18th July 2018 Copper’s slump amid a deepening global trade conflict offers a long-term buying opportunity, according to Citigroup, which shrugged off fears for world growth to boost its long-term forecasts. “Prepare for a decade of Dr Copper on steroids,” analysts including Max Layton and Tracy Liao wrote in a... 

Kenya's Safaricom in 'advanced talks' to take M-Pesa to Ethiopia

By: Reuters     17th July 2018 Kenya's Safaricom is in "advanced talks" with the Ethiopian government to introduce its popular M-Pesa mobile money service to neighbouring Ethiopia, a market of 100-million people, two sources said on Tuesday. Britain's Vodafone, Safaricom's parent company, will license the use of the M-Pesa... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

Top-grade iron-ore may spike to $100/t

By: Bloomberg     16th July 2018 High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material.... 

Ramaphosa embarks on Eskom overhaul

By: Reuters     12th July 2018 A month after Cyril Ramaphosa took the helm of South Africa's ruling African National Congress (ANC) in December, he called an urgent meeting with then-President Jacob Zuma and senior ministers to save state power firm Eskom. Ramaphosa understood sweeping changes were needed at the struggling... 

Libyan NOC announces reopening of key oil export terminals

By: Reuters     11th July 2018 Libya's Tripoli-based National Oil Corp (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of the country's oil output. Production and export operations would be restored "within the next... 

Battery-skeptic funds wait out cobalt rally seen as fleeting

By: Bloomberg     9th July 2018 Call them battery skeptics. Bets on surging demand for electric vehicles have made cobalt and lithium hot commodities, but some investors say the outlook is leaving them cold. While prices have more than doubled in the past three years on worries over shortages of the metals used in batteries,... 

India's June gold imports drop by a quarter as rupee hits record low

By: Reuters     6th July 2018 India's gold imports fell for a sixth month in June to 44 t as a drop in the rupee to record lows lifted local prices to a near 21-month high, curtailing demand, provisional data from GFMS analysts at Thomson Reuters and bank dealers showed. The 25% year-on-year drop in purchases by the world's... 

Japan's Mitsui may raise its stake in Vale – executive

By: Reuters     6th July 2018 Japanese trading house Mitsui & Co may boost its stake in Brazil's Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant's management. Several Brazilian pension funds and BNDESPar, the investment arm of state... 

Iron-ore slides to seven-month low as trade war fears mount

By: Bloomberg     5th July 2018 Iron-ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the US and China. Benchmark spot ore eased to $62.50/t on Thursday, the lowest since November,... 

Goldman says buy commodities as clock ticks toward trade war

By: Bloomberg     5th July 2018 Commodity bull Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the US and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy. The Wall Street... 

From concept to reality: bringing digital transformation into focus

2nd July 2018 The incredible announcement from Uber at this year’s annual Elevate conference in Los Angeles sent echoes across the globe, stirring imaginations about just what’s possible with new technologies. The transportation giant unveiled its electric-powered ‘flying car’ – looking like a hybrid of a... 

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Eskom secures R1.35bn loan from KfW to integrate Northern Cape renewables into the grid

By: Simone Liedtke     29th June 2018 State-owned Eskom has entered into a R1.35-billion loan facility with German development bank KfW to support further investments in Eskom's transmission network in the Northern Cape in order to integrate renewable energy independent power producer (IPP) projects. This funding will also allow for... 

World Bank approves $2.1bn loans for Nigerian projects

By: Reuters     29th June 2018 The World Bank said on Thursday it had approved a total of $2.1-billion in concessionary loans to fund projects in Nigeria aimed at improving access to electricity and promoting governance. The projects approved by the International Development Association (IDA), the bank's low-interest arm, are... 

Gold hits over six-month low as dollar strengthens

By: Reuters     28th June 2018 Gold prices hit their lowest in more than six months on Thursday as the greenback held near one-year highs amid mounting US-China trade friction. Spot gold was down 0.2% at $1 249.71/oz, as of 0752 GMT. Earlier in the session, the bullion touched $1 248.25, its lowest since mid-December. 

Intermin hopes for Goongarrie Lady decision in 2019

By: Esmarie Swanepoel     28th June 2018 ASX-listed Intermin Resources was hoping to take a development decision on its Goongarrie Lady gold project, in Western Australia, in 2019. This comes after a feasibility study (FS) showed that the project could deliver 12 700 oz of gold over a seven-month mine life. The FS estimated that the... 

Restructuring Eskom top of South Africa's agenda – Nene

By: Reuters     22nd June 2018 Restructuring State-run power firm Eskom is "on top of the agenda" for South Africa, Finance Minister Nhlanhla Nene said on Friday, though he said recent outages likely had very little impact on the economy. Africa's most industrialised economy suffered power outages earlier in June because of... 

Trans Hex posts R187m loss for FY18

By: Nadine James     21st June 2018 JSE-listed diamond miner Trans Hex on Thursday reported a R186.8-million loss for the financial year ended March 31, 2018, with its loss a share amounting to 175.6c and its headline loss a share to 216.5c. The group’s net loss from discontinued operations, including retrenchment costs of... 

Current account deficit widens in Q1 as exports slump

By: Reuters     21st June 2018 South Africa's current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after... 

WeFix Responds to Burgeoning Local Demand for Reconditioned Devices with i2 Range of Refurbished iPhones

19th June 2018 Affordability and environmental consciousness drives relatively new trend in South Africa Local device repair specialists weFix have re-launched their i2 range of refurbished iPhones, enabling consumers to enjoy one of the world’s most popular mobile devices without breaking the bank. 

Cash-in-transit heists could lead to losses of R470m, Parliament hears

By: News24Wire      14th June 2018 Cash-in-transit heists will lead to cash losses of R470-million this year if the current trend continues, the Portfolio Committee on Police heard on Wednesday. The meeting brought together a range of stakeholders concerned with cash-in-transit heists, including the South African Banking Risk... 

Upgraded Main Road 118 brings relief to residents of Oranjemund, Namibia

12th June 2018 VKE Namibia Consulting Engineers, part of the SMEC Group, was contracted by the Namibian Roads Authority to carry out the design work and to supervise the construction phase of the Main Road 118 upgrade. The SMEC Group is a global consultancy delivering engineering excellence, design innovation... 

Germany sees no quick solution to trade row with US, open to talks

By: Reuters     11th June 2018 Germany sees no immediate solution to the trade dispute between the United States and other major economies but remains open to talks "among friends", Economy Minister Peter Altmaier said on Monday, seeking to head off a full-blown global trade war. US President Donald Trump backed out of a joint... 

The Principles for Effective Combustion Control in Fired Heaters

11th June 2018 The Principles for Effective Combustion Control in Fired HeatersFired heaters are integral to hydrocarbon processing. Specifically designed for the reaction of fuel and air to produce extremely high gas temperatures, heaters transfer this energy to potentially highly flammable process fluids via... 

Cobalt battery boom wavers as prices slide in top user China

By: Bloomberg     11th June 2018 Cobalt is facing its first major test since an impending demand boom from electric vehicles triggered a two-year surge, with prices retreating in top consumer China amid signs there’s still enough material to go around. The price for cobalt sulfate – the chemical form used in car batteries and... 

Demand rising for funding for grid-tied renewables

By: Schalk Burger     8th June 2018 Financing to build renewable-energy systems for use by businesses in South Africa is growing, with many projects showing good financial viability and return on investment, says financial institution Absa renewable-energy head Justin Schmidt. The return on investment for well-designed energy... 

Botswana central bank urges tax reform before diamonds dwindle

By: Bloomberg     4th June 2018 Botswana’s central bank has urged the government to overhaul the southern African nation’s tax regime and prepare the economy for declining contributions from diamonds. Botswana relies on the gemstones for almost a fifth of its gross domestic product and used the revenue generated from sales to... 

Peru cenbank urges government to help revive mining projects

By: Reuters     1st June 2018 The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects – Southern Copper Corp's Tia Maria, Newmont Mining... 

Congo copper production in Q1 rises 8%; cobalt output up 34%

By: Reuters     31st May 2018 Democratic Republic of Congo produced 296 717 t of copper in the first quarter of 2018, up 8.2% over the same period last year, the central bank said in a report on Thursday. Cobalt production in the first quarter of 2018 rose 34.4% to 23 921 t, the bank said. 

Brics’ New Development Bank approves six project loans totalling $1.6bn

By: Marleny Arnoldi     29th May 2018 Multilateral development bank, the New Development Bank (NDB), on Monday held its third yearly meeting of the NDB board of governors (BoG) and the fourteenth meeting of the NDB board of directors (BoD), in Shanghai, China.  

Guinea retains mining minister in Cabinet reshuffle

By: Bloomberg     28th May 2018 Guinea’s President Alpha Conde appointed a new 33-member Cabinet in which Abdoulaye Magassouba was retained as mines and geology minister, according to a decree read on the West African country’s state-owned broadcaster on Saturday. Mamady Camara, who was Guinea’s ambassador to South Africa, was... 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

By: Reuters     25th May 2018 Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

SARB keeps repurchase rate at 6.5%

By: African News Agency      24th May 2018 South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at... 

20 years of the Africa Energy Forum: a catalyst for progress within the industry

24th May 2018 Just before the Africa Energy Forum (AEF) arrives in Mauritius from 19-22 June to celebrate its 20th anniversary, we hear from some of the energy industry’s most respected decision-makers on how the Forum provided a platform for the development of Africa’s energy sector. 

AfDB, Aims partner to strengthen, leverage maths, science skills in Africa

By: Marleny Arnoldi     23rd May 2018 The African Development Bank (AfDB) has signed a letter of intent (LoI) with the African Institute for Mathematical Sciences (Aims) aimed at identifying opportunities for potential partnership between the two institutions.  

AfDB, Unido sign MoU to improve Africa’s industrialisation

By: Marleny Arnoldi     21st May 2018 The African Development Bank (AfDB) and the United Nations Industrial Development Organisation (Unido) have signed a memorandum of understanding (MoU) to step up collaboration that will boost Africa’s industrialisation. 

Anadarko seeks to raise $14bn to $15bn for Mozambique LNG project

By: Reuters     18th May 2018 Anadarko Petroleum is seeking to raise a record $14-billion to $15-billion from banks and export credit agencies for its huge liquefied natural gas (LNG) project in Mozambique, sources close to the matter said. Fast-growing gas demand from China and Southeast Asia is reassuring export project... 

Latest News

more

Latest Videos

more

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close