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Vale gets 10yr operating licence for giant Brazilian iron-ore mine

By: Henry Lazenby     9th December 2016 Brazil-based iron-ore mining leader Vale has received a ten-year operating licence for its giant Carajás S11D project, the largest project in its history. Brazil’s federal environment agency Ibama said in a statement Friday that Vale had fulfilled 16 specific conditions to operate the... 

PRASA New Rolling Stock Acquisition Programme, South Africa

By: Sheila Barradas     9th December 2016 The first trains delivered in the R51-billion rolling stock acquisition programme for Metrorail operations are gearing up for service. 

Air cargo volumes encourage, outperforming weak global trade

By: Martin Zhuwakinyu     8th December 2016 Although the global airfreight business continues to face headwinds from weak global trade, the International Air Transport Association (Iata) says there are encouraging signs that growth in air cargo volumes, which came in at 8.2% year‐on‐year in October, will endure into the new year. This was... 

Anglo confronts messy divorce in miner’s South Africa birthplace

By: Bloomberg     8th December 2016 In 1917, Ernest Oppenheimer met with South African general and soon-to-be Prime Minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul. Anglo, along with its sister company De Beers, made... 

The ‘weird’ commodity that’s hurting bears as prices double

By: Bloomberg     7th December 2016 Iron-ore’s probably heading for a retreat in 2017 as new mine supply comes online and a surplus builds, according to UBS Group, which acknowledged that the commodity’s recent surge was unexpected and had torpedoed an earlier forecast for a slump this quarter. “It’s just surprised me,” Wayne... 

Vale sells four ships to Polaris for $140m

By: Reuters     6th December 2016 Brazil's mining company Vale said on Monday it concluded negotiations with Polaris Shipping for the sale of four capesize ships for a total $140-million. Vale said the transaction is consistent with its strategy of selling noncore assets to strengthen its financial position. 

Kumba ranked carbon disclosure leader

By: Megan van Wyngaardt     5th December 2016 Kumba Iron Ore, a business unit of Anglo American, has been named one of the carbon disclosure leaders for 2016 by Engaged Tracking (ET) Index Research – the only company from the Brazil, Russia, India, China and South Africa grouping on the list. In its yearly ‘ET Carbon Rankings’, released on... 

First new PRASA trains take to the tracks in Tshwane

By: Irma Venter     2nd December 2016 The first trains delivered in the R51-billion rolling stock acquisition programme for Metrorail operations are gearing up for service, says the Passenger Rail Agency of South Africa (PRASA). The agency says the testing and commissioning of the units “have progressed well in the past six months,... 

Nickel price forecast rises as market tightens into 2020

By: Henry Lazenby     2nd December 2016 The price of nickel is expected to continue its upward momentum over the next four years to 2020 as mine closures are expected to slow market growth, while ambitious US spending plans will potentially boost demand. Analysis by Fitch Group research arm BMI calls for a more bullish nickel price... 

How Brics bank can change the way lenders do business

     2nd December 2016 In times of economic distress, a situation South Africa finds itself in at present, governments tend to invest heavily in infrastructure, which plays a central role in economic growth and poverty reduction by promoting greater productivity, increasing trade, reducing the cost of doing business... 

Monet submarine cable network project, Brazil and the US

By: Sheila Barradas     2nd December 2016 The Monet project comprises a 10 500-km-long fibre-optic cable, which stretches from Brazil to the US. 

Vale says expects judge to approve Samarco settlement soon

By: Reuters     1st December 2016 Vale, the world's top iron-ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron-ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a presentation in London that it "should not take long"... 

S Africa, Brazil authorities agree to bolster competition policy, enforcement

By: Anine Kilian     1st December 2016 South Africa’s Competition Commission on Thursday signed a memorandum of understanding (MoU) with Brazil’s Administrative Council for Economic Defense (CADE) to strengthen competition law enforcement between the two countries. The signing ceremony took place on the sidelines of the fifteenth... 

Govt, business and labour to up partnership game in 2017 

By: Natasha Odendaal     29th November 2016 The partnership between civil society, labour, business and government that recently averted a near-downgrade of South Africa’s investment rating will “lift its game” next year to ensure that citizens start to experience change, according to Finance Minister Pravin Gordhan. Speaking at a World... 

Ingeteam launches its new 100 kW three-phase string inverter

     29th November 2016 The inverter is to be showcased at the Solar-Tec fair in Cairo, Egypt Series production is set to commence in June 2017 Ingeteam is finalizing the launch of its new PV string inverter, which will make it possible to achieve a power output of 100 kWAC in a single, 75 kg unit. This inverter will... 

Meridian takes up TSX-V listing as it prepares for two-pronged BMC exploration approach

By: Henry Lazenby     29th November 2016 Amsterdam, Netherlands-based Meridian Mining has completed its acquisition of Canadian junior Cancana Resources, the companies announced Monday – a deal that is expected to streamline the ownership structure of Cancana and Meridian's joint venture (JV) exploration and development project Brazil... 

BHP extends $115m to Samarco for remediation work

By: Esmarie Swanepoel     25th November 2016 Mining major BHP Billiton has extended a $115-million short-term facility to its joint venture with iron-ore (JV) major Vale in Brazil, to carry out remediation and stabilisation work to support the Samarco operations. BHP said on Friday that the funds would be released to Samarco only as... 

Exclusive rights for wastewater treatment acquired

By: Sascha Solomons     25th November 2016 Angolan oil and gas services company Friburge has acquired the exclusive rights to provide waste treatment solutions using wastewater treatment company Nature Oil and Gas’s technology in sub-Saharan Africa. The waste treatment solutions are on-board solutions to treat wastewater, or slops,... 

German drive engineering group to expand activities in South Africa

By: Keith Campbell     25th November 2016 German drive engineering group SEW Eurodrive is planning to expand its assembly capacity in South Africa. The company operates 15 manufacturing plants in Germany, France, Brazil, the US and China, which ship components to assembly plants in 75 countries, including South Africa. “We invest in all... 

Samarco licensing moving forward despite fines, regulator says

By: Bloomberg     23rd November 2016 Samarco’s quest to obtain permits for resuming its Brazilian iron-ore operations is progressing despite environmental fines and a court order, with a mid-2017 restart still possible, the state licensing agency said. The venture owned by BHP Billiton and Vale, which halted work a year ago after a... 

Global steel production rises 3.3% y/y in October

By: Anine Kilian     22nd November 2016 Global crude steel production, as reported by the 65 member countries of the World Steel Association (worldsteel), increased by 3.3% year-on-year to 136.5-million tons in October. South Africa’s crude steel output rose by 13.8% year-on-year to 534 000 t in October, while Egypt lifted its... 

Temer said to seek new Vale CEO in Brazil shareholder talks

By: Bloomberg     21st November 2016 Brazil’s government has decided to push for a new CE for iron-ore giant Vale when the current boss’s contract expires next year, according to people with knowledge of the matter. President Michel Temer ceded to months of lobbying from members of his own Democratic Movement Party to seek a... 

Iron-ore’s party gives way to hangover as China stockpiles surge

By: Bloomberg     21st November 2016 For iron-ore, it is the morning after the night before. Prices have given up most of the gains inspired by Donald Trump’s surprise win and a speculative frenzy in China, with a surge in port stockpiles in the top user reminding investors that fundamentals still count. “The speed of the recent... 

Brazilian judge accepts criminal charges for Samarco dam disaster – report

By: Reuters     18th November 2016 A federal judge in Brazil has accepted the criminal charges brought by prosecutors against four companies and 22 employees for a burst tailings dam at the Samarco mine last November, the G1 news site reported on Friday. Prosecutors last month accused Samarco, its joint venture owners Vale and BHP... 

Volkswagen to cut 30 000 jobs at VW brand by 2020

By: Reuters     18th November 2016 Volkswagen and its powerful labour unions agreed to cut 30 000 jobs at the core VW brand in exchange for avoiding forced redundancies in Germany until 2025, a compromise which leaves the carmaker's profitability still lagging rivals. The turnaround plan announced on Friday will lead to... 

In bid to revive GTL refinery, PetroSA plans gas-to-condensate swing 

By: Terence Creamer     18th November 2016 South Africa’s embattled national oil company, PetroSA, has confirmed yet another, albeit smaller, loss for 2015/16, while revealing that it is planning to use more heavy condensate as a feedstock at its gas-to-liquids (GTL) refinery in Mossel Bay, as indigenous gas resources dwindle. The swing... 

Nasser reiterates rejection of Samarco charges

By: Esmarie Swanepoel     17th November 2016 Diversified major BHP Billiton has reiterated its intention to defend itself against criminal charges relating to the Samarco disaster, which claimed the lives of 19 people. Brazilian federal prosecutors last month filed criminal charges against BHP and its joint venture partner Vale, as well as... 

Angola Cables, Etix team up to provide direct US–Africa connection

By: Natasha Odendaal     16th November 2016 Angolan telecommunications company Angola Cables and Luxembourg-headquartered data centre and cable landing station specialist Etix Everywhere have partnered to build infrastructure to reduce the latency between the US and Africa, thereby eliminating the data route through Europe. The parties... 

Wacker Neuson improves earnings in Q3 2016 despite challenging environment

     15th November 2016 Leading international light and compact equipment manufacturer, the Wacker Neuson Group, saw revenue and earnings for the third quarter of 2016 increase relative to the previous year. Viewed over a nine-month period, revenue remained at the prior-year level, balancing out the drop in earnings... 

Banco Safra sues Samarco in US court over Brazil dam disaster

By: Reuters     15th November 2016 Brazilian mining company Samarco Mineração was sued by creditors in the US on Monday, accusing it of making false statements about a deadly dam disaster in November 2015. Banco Safra's Cayman Islands branch, individually and on behalf of investors holding Samarco's bonds due in 2022, 2023 and... 

Gordhan: We're working hard to avert downgrade

By: News24Wire      14th November 2016 Government, business and labour have done “phenomenal” work in trying to prevent a credit ratings downgrade, says finance minister Pravin Gordhan. Gordhan, who was speaking at the Discovery Leadership Summit 2016 in Sandton on Monday, was asked about whether he would be the fall guy if South... 

Royal IHC secures order for 4,200m3 custom-built TSHD in Uruguay

     14th November 2016 Royal IHC has signed a contract for the design, construction and delivery of a 4,200m3 trailing suction hopper dredger with Administración Nacional de Puertos in Montevideo, Uruguay. The contract was signed by Mr Alberto Diaz Acosta, President of the Board of Directors of ANP, Mrs Gladis Liliana... 

AngloGold free cash soaring

By: Martin Creamer     14th November 2016 The generation of free cash by gold mining company AngloGold Ashanti is soaring. Free cash flow of $161-million in the third quarter is 54% higher than the free cash flow generated in the six months to June 30. 

AngloGold Ashanti Says Third-Quarter Free Cash Flow Soars to $161m

     14th November 2016 AngloGold Ashanti announced a significant jump in third-quarter free cash flow to $161m, further improving its net debt position despite a decline in ore grades at some of its operations and a challenging operating environment for its South African business.   Free cash flow was $161m, before the... 

Billionaire Steinmetz says Rio probe proves Guinea mine plot

By: Bloomberg     14th November 2016 Billionaire Beny Steinmetz says the suspension of a senior Rio Tinto Group executive this week over a payment in Guinea is evidence of an elaborate plot that culminated in Steinmetz’s mining company being stripped of its rights to a $20-billion iron-ore project two years ago. Steinmetz’s BSG... 

Australia miners to benefit from price rallies, China prospects

By: Esmarie Swanepoel     11th November 2016 Rallies in various commodity prices and continued strong prospects in the Chinese commodity markets are expected to benefit Australian resource companies. The November ‘China Resource Quarterly (CRQ)’, which the Australian Department of Industry, Innovation and Science published on Friday, noted... 

Iron-ore’s trumped up gains seen at risk after near-doubling

By: Bloomberg     11th November 2016 Iron-ore, a pacesetter of 2016’s rally in commodities, may be headed for a fall. Prices that have almost doubled since bottoming will face growing pressure on rising supply from Australia and Brazil as well as headwinds to demand in China, according to Capital Economics. 

Mercedes-Benz finally unveils ‘premium pick-up’

By: Irma Venter     11th November 2016 Mercedes-Benz has finally lifted the lid on its X-Class mid-size (one-ton) pickup. The German car maker says the “premium pickup will combine the best of two worlds”. 

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