R/€ = 13.43 Change: 0.01
R/$ = 12.44 Change: 0.03
Au 1245.01 $/oz Change: -3.26
Pt 963.50 $/oz Change: -1.00


Brazil's Vale says US court annuls most of class action over dam disaster

By: Reuters     25th March 2017 Brazilian miner Vale said on Friday the US District Court for the Southern District of New York annulled the majority of a class action lawsuit against the company and executives over the collapse of a tailings dam in Brazil in 2015. The only parts of the case that remain ongoing are linked to... 

New concrete pump exhibited at expo in Las Vegas

     24th March 2017 Construction equipment supplier Putzmeister - as a member of heavy machinery manufacturer SANY Group - exhibited a new truck-mounted concrete pump with a 47-m, five-section boom at this year’s Construction Expo (Conexpo), held from March 7 to 11, in Las Vegas, Nevada. 

Global crude steel output rose 4.1% y/y in February

By: Natasha Odendaal     23rd March 2017 Global crude steel production by the 67 countries reporting to industry body World Steel Association (worldsteel) increased 4.1% year-on-year to 126.6-million tonnes in February. China produced 4.6% more crude steel year-on-year, at 61.2-million tonnes, while Japan produced 8.3-million tonnes, a... 

DAFF to assist agricultural sector increase production  

By: Anine Kilian     17th March 2017 The Department of Agriculture, Forestry and Fisheries (DAFF) plans to boost agricultural production, which was severely affected by the drought in recent years. Addressing delegates at the Agricultural Research Symposium 2017 in Centurion, Gauteng, on Friday, Agriculture, Forestry and Fisheries... 

Brazil court suspends lawsuit over Samarco mine disaster – Vale

By: Reuters     17th March 2017 Brazilian iron ore miner Vale SA said on Thursday that a federal court in Minas Gerais has suspended a case brought by prosecutors seeking 155-billion reais ($49.7-billion) in damages for the 2015 Samarco mine disaster. Vale said in a securities filing the court suspended other lawsuits to... 

China iron-ore extends gains as steel holds near 3-year high

By: Reuters     16th March 2017 Shanghai rebar steel futures cut early losses to end near a three-year high on Thursday, helping raw material iron ore extend gains to a fifth session in a row. Hopes of stronger infrastructure spending and property sales in China helped steel prices surge this week, but volatility is also high. 

Anglo's future thrown in question as billionaire grabs stake

By: Bloomberg     16th March 2017 In its 100-year history, Anglo American Plc has endured commodities booms and busts, South African apartheid and bitter boardroom disputes. Now the British mining giant is threatened by the ambitions of Anil Agarwal, an Indian scrap-metal trader turned billionaire mining tycoon. In a surprise... 

Silver Wheaton remains a unique offering in uncertain times 

By: Henry Lazenby     13th March 2017 As the tide turns in the resource investment space, a renewed focus on project development sees many juniors looking for cash to fund their project development goals. The world’s largest precious metals streaming firm Silver Wheaton believes it has the answer for the right junior firms: its early... 

Top iron miners' cash juggernaut set to survive price crash

By: Bloomberg     13th March 2017 The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector. More than 90% of... 

Samarco mine restart threatened by request to protect forest

By: Bloomberg     13th March 2017 The Samarco iron-ore mine in Brazil is facing one more obstacle to restarting operations later this year after a court accepted a request by prosecutors to protect a forested area that encompasses a pit the venture had planned to use for storing waste. The BHP Billiton-Vale joint venture had... 

Conference to broaden industry’s business opportunities and technology horizons

By: Simone Liedtke     10th March 2017 Owing to foundries in South Africa being isolated in their approach to problem solving, the South African Metal Casting Conference (MCC) will serve as a platform to broaden the industry’s horizons by showcasing new technologies, and providing opportunities for international and local foundry... 

Forging market for automotive application to be valued at $56-billion by 2022

     10th March 2017 Market research company Zion Market Research has published a new report highlighting that the global steel forging market for automotive applications was valued at $41.77-billion in 2016 and is expected to reach $56-billion in 2022, growing at a compound annual growth rate (CAGR) of 5.1% between... 

Norwegian company to design the South African Navy’s new survey ship

By: Keith Campbell     10th March 2017 Norwegian ship design and shipbuilding company Vard Marine, a subsidiary of Italy’s Fincantiere group (which holds 55.63% of the Norwegian enterprise), has confirmed that its VARD 9 105 hydrographic/oceanographic ship design is the one offered to the South African Navy (SAN) by Southern African... 

Australia's FAR says Senegal oilfield could start earlier than expected

By: Reuters     9th March 2017 Australia's FAR, a partner in an oilfield off Senegal, on Thursday said the project could start producing before 2021, earlier than previously touted, and at a higher rate than flagged before. Operator Cairn Energy and FAR released updates this week following drilling on their latest well, SNE-5,... 

Cascavel work to start in April

By: Esmarie Swanepoel     9th March 2017 Additional mine development required to facilitate the restart of operations at the Cascavel mine, in Brazil, will start in April, ASX-listed Orinoco Gold has reported, with the initial development to be focused on adding new access ramps and new development headings to allow for larger-scale... 

Updated PFS delivers improved economic metrics for Amarillo’s Mara Rosa project

By: Creamer Media Reporter      8th March 2017 An updated prefeasibility study (PFS) on TSX-V-listed Amarillo Gold’s Mara Rosa project, in Brazil, has demonstrated improved economic metrics, compared with a 2011 study, including a rapid after-tax payback period of just over two years. The updated PFS investigated two mining scenarios –... 

Titans of oil world meet in Houston after two-year price war

By: Reuters     6th March 2017 The biggest names in the oil world come together this week for the largest industry gathering since the end of a two-year price war that pitted Middle East exporters against the firms that drove the shale energy revolution in the United States. When Opec in November joined with several non-Opec... 

Business, resources industry oppose proposed increase in WA iron-ore tax

By: Megan van Wyngaardt     6th March 2017 A group of Western Australian (WA) business and resources industry bodies have called on the local government to oppose the WA Nationals’ proposed increase in the iron-ore production levy, which the group says will destroy jobs and investment. This comes five days before the WA state election. 

Multinationals to heed taxman’s further-reaching hand as transfer pricing disputes come to a head

By: Henry Lazenby     6th March 2017 With several Canadian miners embroiled in acrimonious standoffs with the Canadian Revenue Agency (CRA) regarding transfer pricing rules, mining companies will have to come to terms with increased levels of uncertainty in their tax profiles and will need to consider the impact of all changes, not... 

South African maize production doubles despite droughts worsening across East Africa

By: African News Agency      3rd March 2017 As drought and worsening food security hits swathes of East Africa, maize harvests in Southern Africa, previously slashed by El Niño, are forecast to recover this year, with South Africa’s output expected to increase by more than 50 percent from 2016. A new United Nations (UN) report states that... 

Brexit set to change SA’s bilateral economic relationship with the UK 

By: Keith Campbell     3rd March 2017 Last month, during the debate regarding the 2017 State of the Nation address in Parliament, in Cape Town, Trade and Industry Minister Dr Rob Davies highlighted: “[A]s the UK government prepares to trigger exit negotiations from the EU (European Union), we need to prepare for a new trade... 

Brexit set to change SA’s bilateral economic relationship with the UK

By: Keith Campbell     3rd March 2017 Last month, during the debate regarding the 2017 State of the Nation Address in Parliament in Cape Town, Trade and Industry Minister Dr Rob Davies highlighted that “[a]s the UK Government prepares to trigger exit negotiations from the EU [European Union], we need to prepare for a new trade... 

German-backed initiative to help increase use of solar energy in industrial processes

By: David Oliveira     3rd March 2017 The South African National Energy Development Institute (Sanedi) and the Southern African-German Chamber of Commerce and Industry (SAGCCI) announced last month that they had teamed up for the international Solar Payback project, which aims to increase the use of solar thermal energy in industrial... 

Largo qualifies vanadium product for aerospace industry

By: Henry Lazenby     28th February 2017 Strategic minerals producer Largo Resources has qualified the vanadium pentoxide product produced at its flagship Maracás Menchen mine, in Bahia, Brazil, for use by a major North American producer of master alloys for the aerospace industry. High-purity vanadium pentoxide is used in the... 

World debt to increase to $44tr – S&P

By: News24Wire      27th February 2017 Absolute debt levels of countries continue to increase and total outstanding global sovereign commercial debt stock will rise to reach an all-time high of $44-trillion by the end of this year, according to rating agency Standard & Poor's (S&P). In a report entitled Sovereign Debt 2017, S&P... 

Air force base sends 60 cadets for training

     24th February 2017 From next year, the South Africa Air Force (SAAF) will send 60 cadets to a military academy in Saldanha in the Western Cape each year to pursue their first degree in their chosen fields. This will include future pilots, navigators, engineers, technicians and other support mustering. 

Belo Monte ultrahigh voltage direct current transmission link, Brazil

By: Sheila Barradas     24th February 2017 The project involves the construction of a 2 518 km, 800 kV ultrahigh voltage direct current link. 

Diplomatic doldrums for Pretoria?

By: Keith Campbell     24th February 2017 While much local media attention has been devoted to US President Donald Trump, there has been something that, from a South African perspective, was much more important. This was the outcome of the African Union summit at the end of January. This appears to have been pretty much a diplomatic... 

Vale hits profit home run on strong production, rising iron-ore prices

By: Henry Lazenby     23rd February 2017 Brazil’s Vale, the world’s largest iron-ore producer, has swung back into the black with a net profit of $3.98-billion for 2016, boosted by higher iron-ore prices and record output. This represents a significant swing from a loss of $12.13-billion in 2015. 

Bidcorp expects upward momentum in the second half of FY17

By: Natasha Odendaal     23rd February 2017 After maintaining a strong upward trajectory across all geographies during the six months ended December 31, JSE-listed Bidcorp is optimistic about its future prospects With a global rebranding effort to ‘Bidfood’ under way to reinforce its image as “value-add food people”, Bidcorp’s foodservice... 

Bidcorp continues to achieve earnings growth in H1

By: Natasha Odendaal     23rd February 2017 JSE-listed Bid Corporation (Bidcorp), the food services unit that was unbundled from international services, trading and distribution firm Bidvest last year, delivered a distribution of 250c a share for the six months to December 31. The reported financials show “very pleasing” results for the... 

Beadell raises A$51m for Tucano

By: Esmarie Swanepoel     21st February 2017 Gold miner Beadell Resources will raise some A$51-million to fund work at its Tucano gold project, in Brazil. Beadell on Tuesday said some A$46-million will be raised through the placement of 159-million shares to institutional and sophisticated investors, priced at 29c a share. 

Free cash rockets to $278m, dividend resumed – AngloGold

By: Martin Creamer     21st February 2017 Gold mining company AngloGold Ashanti will resume dividends after lower operating and interest costs helped it nearly double free cash flow to $278-million on lower production. In the 12 months to December 31, AngloGold Ashanti produced 3.6-million ounces of gold across its 17-mine portfolio at a... 

Rolfes posts strong interim results

By: Megan van Wyngaardt     20th February 2017 Chemicals group Rolfes on Monday reported a R37-million increase in operating profit to R97-million for the six months to December 31, while its earnings before interest, taxes, depreciation and amortisation also increased by 58% to R103-million. The strong performance came on the back of its... 

Foreign policy rows all about the changing balance of power  

By: Aubrey Matshiqi     17th February 2017 The year began with two rows on foreign policy. The first was about a visit to Taiwan by Solly Msimang in his capacity as the executive mayor of Tshwane. The second, which riled the African National Congress (ANC) even more, was about a visit to Israel by Democratic Alliance (DA) leader Mmusi... 

African and global airlines enjoyed strong passenger growth last year

By: Keith Campbell     17th February 2017 Last year, African airlines experienced their strongest year of passenger growth since 2012, the International Air Transport Association (IATA) has reported. Passenger numbers on international flights within, and to and from, the continent, measured in revenue passenger kilometres (RPKs),... 

Renewables division experiences record-breaking 2016

     17th February 2017 Italian energy company Enel Green Power’s (EGP’s) global renewable energies division made 2016 a record-breaking year after building an all-time-high 2 018 MW of new capacity within a calendar year. This is a major achievement for EGP as it more than doubled what it achieved in 2015, when... 

Major South African coal extension project on cards – South32

By: Martin Creamer     16th February 2017 A decision will be taken in the June quarter on go-ahead for the Klipspruit Life Extension coal project in Mpumalanga, which is said to have robust economics. The original BHP Billiton capital expenditure (capex) of $500-million-plus for the two-year development has been more than halved under... 

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