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AngloGold swings to H1 profit amid higher gold price, weaker currencies

By: Creamer Media Reporter      22nd July 2016 A higher gold price and weaker currencies have contributed to AngloGold Ashanti swinging back into profit for the six months ended June 30. The gold miner, led by CEO Srinivasan Venkatakrishnan, expects to report headline earnings of between $87-million and $99-million and headline earnings a... 

Manufacturers to exploit emerging automotive markets

By: Nadine James     22nd July 2016 Original-equipment manufacturers (OEMs) are aiming to expand their client bases and establish automotive manufacturing facilities in emerging market economies, owing to the current saturation in European and US automotive markets, says auditing and consulting firm KPMG. KPMG industrial and... 

Brics looks back at first year of NDB

By: Megan van Wyngaardt     21st July 2016 A South African delegation, led by Finance Minister Pravin Gordhan, was party to discussions on the New Development Bank’s (NDB) five-year strategy at its first annual meeting in Shanghai, China last week. The Brazil, Russia, India, China and South Africa-, or Brics-, led institution used the... 

South32 on track to meet FY2017 cost guidance; FY2016 production in line with forecasts

By: Mia Breytenbach     21st July 2016 Diversified major South32 says the completion of restructuring initiatives and the fact that production met or exceeded guidance for the 2016 financial year for the majority of its operations is positioning the company well to achieve its unit cost guidance in the new financial year. Despite a... 

Brazil's Vale expects 2017 iron-ore output to be below forecast

By: Reuters     21st July 2016 Vale SA expects full-year iron-ore output to come in at the lower end of forecasts this year, and below expectations in 2017, a sign the world's No. 1 producer of the raw material is effectively reining in production at low-margin facilities. Iron-ore output was 86.823-million tonnes in the... 

End of Australia’s iron-ore supply rush seen aiding prices

By: Bloomberg     21st July 2016 The largest iron-ore producers in Australia, the world’s No. 1 exporter, are raising supply at the slowest pace in years, drawing a line under more than a decade of expansions and lending potential support to prices that are rebounding this year. BHP Billiton, the third-largest shipper, said... 

Brazil state could ban dam design used at Samarco mine

By: Reuters     21st July 2016 A Brazilian state law to ban upstream tailings dams, the design used at a dam that collapsed at the Samarco iron ore mine in November, could be approved this year, an environmental official for the state of Minas Gerais told Reuters on Wednesday. Anderson Silva de Aguilar, the subsecretary for... 

Vallourec & Sumitomo Tubos Do Brasil (Vsb) Issues Fac To Sms Group For New Pqf® Roll Redressing Machine

     20th July 2016 Vallourec & Sumitomo Tubos Do Brasil, based in Jeceaba, Brazil, granted SMS group (www.sms-group.com) the Final Acceptance Certificate for the new PQF® roll redressing machine which is used in the 16 inches PQF® seamless tube plant. The Franco-Japanese joint venture has set up a highly productive... 

Anglo ups South African export coal output as diamond, iron-ore volumes fall

By: Martin Creamer     20th July 2016 Diversified mining company Anglo American upped South African export coal production in the three months to June 30, which saw local diamond and iron-ore output fall appreciably. While Eskom-related production remained broadly unchanged in the second quarter, export coal production rose 8% to... 

Orinoco Gold’s Cascavel nears first gold pour

By: Megan van Wyngaardt     20th July 2016 ASX-listed Orinoco Gold is nearing its first gold pour at its flagship Cascavel gold project, in Brazil, with the commissioning of the gravity plant progressing on schedule. The company reported on Wednesday that it expected the first gold pour to occur in the coming weeks, stating that... 

Vale output expected to tease record levels despite dam disaster

By: Bloomberg     20th July 2016 Vale SA’s relentless expansion is expected to keep the world’s biggest iron-ore miner near record output levels despite the hobbling effects of last year’s Samarco dam burst on its Brazilian operations. The Rio de Janeiro-based miner will report second-quarter output of 86-million metric tons,... 

BHP aims to grow copper, iron-ore, coal volumes in FY17

By: Mariaan Webb     20th July 2016 Diversified mining group BHP Billiton, which narrowly missed its iron-ore production guidance for the 2016 financial year, aims to grow its copper, iron-ore and metallurgical coal production in the next financial year by focusing on improving its productivity. Reporting on the group’s 2016... 

Largo makes vanadium-redox flow battery mark with nonbinding offtake MoU

By: Henry Lazenby     18th July 2016 Canadian vanadium producer Largo Resources has entered into a nonbinding memorandum of understanding (MoU) for an offtake agreement with Massachusetts-based energy technology firm Vionx Energy. The announcement lifted Largo’s TSX-V-listed stock by more than 4% to C$0.47 apiece on Monday. 

E-commerce a $22tn market of opportunities – Unctad

By: Natasha Odendaal     18th July 2016 The United Nations Conference on Trade and Development (Unctad) has unveiled a new electronic commerce (e-commerce) initiative to assist emerging economies in leveraging the rapidly growing $22.1-trillion market. The global e-commerce market has increased 38% since 2013, with business-to-business... 

Aguia advances Três Estradas phosphate project

By: Samantha Herbst     18th July 2016 Based on a positive resource update reaffirming the potential value of its flagship Três Estradas phosphate deposit, in southern Brazil, ASX-listed fertiliser developer Aguia Resources has confirmed its intention to commence with a bankable feasibility study (BFS) once additional project... 

PRASA new rolling stock procurement programme – Gibela rolling stock project, South Africa

By: Sheila Barradas     15th July 2016 The Passenger Rail Agency of South Africa plans to unveil a replica of its newly acquired trains at the Pretoria station for public viewing from the end of July. 

Brazil prosecutors open criminal probe into Samarco CEO

By: Reuters     14th July 2016 Brazilian federal prosecutors said on Wednesday they opened an investigation into alleged environmental crimes by Roberto Carvalho, CE of iron-ore mining company Samarco Mineração SA, over a deadly damburst last year. According to a statement released by prosecutors, Samarco, a 50:50 joint... 

Samarco unlikely to reopen this year, job cuts planned – BHP Billiton

By: Mariaan Webb     14th July 2016 The Samarco iron-ore operation, in Brazil, was unlikely to reopen this calendar year and the workforce would be adjusted to reflect reduced production, 50%-owner BHP Billiton reported on Thursday. The company, which owned Samarco in a partnership with fellow iron-ore major Vale, reported that... 

Copper outlook dim as macroeconomic challenges loom

By: Henry Lazenby     14th July 2016 The copper price is set to dip during the second half of the year, as poor producer discipline, higher output and lower Chinese demand growth combine for a fifth consecutive year of price decline in 2016, according to a new report by market analysts at Thomson Reuters GFMS. Analysts expected... 

Hapman Partners With Brazilian Agency Mavind To Represent The Full-Line Of Bulk Material Handling Equipment In Brazil And South America

     13th July 2016 Hapman, a global leader in the design and manufacture of tailored conveyors, bulk material handling equipment, and fully integrated systems for more than 70 years’ announces a licensee partnership with Mavind Industria Mecanica LTDA. Mavind is located in Belo Horizonte/MG, Brazil. The company has... 

Troy to adjust Karouni’s 2016 production guidance

By: Mariaan Webb     13th July 2016 ASX-listed Troy Resources reported on Wednesday that it would adjust its 2016 production guidance at the Karouni mine, in Guyana, after disruptions to the mill and ongoing processing difficulties hindered its June quarter performance. Troy said progress to advance the Smarts pit into fresh rock... 

Brics bank to issue $448m of yuan green bonds

By: Reuters     12th July 2016 The New Development Bank (NDB), established by the Brics group of emerging nations, plans to sell 3 billion yuan ($448.37 million) of yuan-denominated, green bonds in China's interbank market. The green bonds will be issued on July 18 with a 5-year tenor and will be the first such issuance by a... 

Aguia finalises optimised PEA for flagship Três Estradas deposit

By: Samantha Herbst     12th July 2016 ASX-listed fertiliser developer Aguia Resources has completed the optimised preliminary economic assessment (PEA) for its flagship Três Estradas phosphate deposit, in Brazil, indicating a resource estimate of 74.7-million tonnes with an average grade of 4.13% phosphate and a new net present value... 

Offering Complete Confidence, Certainty And Comfort

     11th July 2016 It is never just about supplying products or technical support to the market. It is also about implementing best practice across all companies and in particular manufacturing operations. Louis Meiring, chief executive officer of the Zest WEG Group, says that it is this operating philosophy that... 

Slave wreck artefacts set for next trans-Atlantic journey

     11th July 2016 Over 220 years after it foundered just off the Clifton coast in Cape Town, the discovery of the shipwreck of the Portuguese slaver, São José Paquete de Africa was the first successful effort ever, to bring to light the archaeological vestiges of one of thousands of vessels that brought over ten... 

South Africa, India boast ‘enormous’ bilateral trade, investment potential – Zuma

By: Anine Kilian     8th July 2016 President Jacob Zuma and Indian Prime Minister Narendra Modi on Friday signed eight memoranda of understanding (MoUs). Some of the focus areas included the establishment of grassroots innovation in the area of science and technology, an MoU on tourism and a programme of cultural cooperation. 

Vale faces more spill costs as Brazil lawmakers seek dam ban

By: Bloomberg     8th July 2016 As miners globally look to squeeze more savings amid low prices, the biggest iron-ore miner Vale SA will face a sharp increase in costs if a group of legislators in Brazil’s mining heartland get their way. Spurred by Brazil’s worst-ever environmental disaster, the proposal would toughen... 

Australia lowers iron-ore price forecast on weak fundamentals

By: Mariaan Webb     8th July 2016 Australia, the world’s largest iron-ore exporter, has lowered its price forecast for the steelmaking ingredient for 2016 and 2017, citing "broadly unchanged" fundamentals of slow demand growth and a well-supplied market. In its latest quarterly update, the Office of the Chief Economist in the... 

Orinoco raises $4.5m, Cascavel to pour first gold at month-end

By: Creamer Media Reporter      8th July 2016 Sydney-listed Orinoco Gold has received firm commitments to raise $4.5-million through an institutional share placement to strengthen its balance sheet and provide it with financial flexibility ahead of the production ramp-up at the Cascavel gold mine, in Brazil. The proceeds of the placement... 

First new passenger trains to enter into service in October

By: Irma Venter     8th July 2016 The first new passenger trains to be delivered according to a multibillionrand contact signed between Gibela and the Passenger Rail Agency of South Africa (PRASA), are set to enter service in October, says PRASA strategic asset development group executive Piet Sebola. He says the first new blue... 

Largo hits new production record in Brazil

By: Henry Lazenby     6th July 2016 TSX-listed Largo Resources has hit a new production record at its flagship Maracás Menchen vanadium mine, in Bahia, Brazil, topping the previous monthly record by 3%. The Toronto-headquartered company stated Tuesday that during June it had produced 801 t of vanadium pentoxide, compared with the... 

Vale says sold three Valemax iron-ore ships to ICBC for $269m

By: Reuters     4th July 2016 Brazil's Vale SA said it has sold three of its giant "Valemax" iron-ore ships to a group led by Industrial and Commercial Bank of China, continuing efforts to unload assets to cut debt and focus investment on its main mining activities. Vale will receive $269-million for the ships when they are... 

BHP fighting rollercoaster legal battle over Brazil dam collapse

By: Martin Creamer     1st July 2016 Claims and appeals in Brazil's unpredictable legal environment are obscuring the potential size of BHP Billiton's burst-dam compensation payout, which is oscillating between a hoped-for $2.3-billion, the sudden return of a suspended $6.2-billion and the refusal to go away of a $58-billion claim.... 

Barroso cement plant project, Brazil

By: Sheila Barradas     1st July 2016 The project involves the construction of a 3.6-million-tonne-a-year cement plant, in Minas Gerais.  

PRASA new rolling stock procurement programme – Gibela rolling stock project, South Africa

By: Sheila Barradas     1st July 2016 The first new passenger trains to be delivered according to a multibillion-rand contract, signed between Gibela and PRASA, are set to enter service in October. 

Russia seeks to promote intra-Brics investment, economic development

By: Keith Campbell     1st July 2016 Russia is proposing a number of potential trade, investment and economic development projects within the framework of the Brazil, Russia, India, China and South Africa (Brics) alignment. These cover a wide range of sectors, including energy, water resources, mining and mining equipment, the... 

Solar may grow sixfold by 2030

By: Bloomberg     1st July 2016 The amount of electricity generated using solar panels stands to expand as much as sixfold by 2030 as the cost of production falls below competing natural gas and coal-fired plants, according to the International Renewable Energy Agency. Solar plants using photovoltaic (PV) technology could... 

Largo graduates to TSX listing

By: Henry Lazenby     29th June 2016 Vanadium producer Largo Resources announced Wednesday that the TSX has approved the the listing of its common shares, starting from July 4. The company would retain the ticker ‘LGO’ after trading of its TSX-V-listed stock had ceased on Monday. 

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