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Brazilian pension fund Previ won't sell Vale shares before year end

By: Reuters     23rd October 2018 Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its CEO said on Monday. Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in... 

Global trade and development trends impact on South Africa, present opportunities

By: Tasneem Bulbulia     22nd October 2018 The recently released United Nations Conference on Trade and Development (Unctad) Trade and Development Report for 2018, entitled ‘Power, Platforms and the Free Trade Delusion’, outlines a number of lessons that South African can learn, and also presents opportunities for the country to... 

Flirting with populism? Ask Venezuela how that went – SARB head Kganyago

By: News24Wire      19th October 2018 South African Reserve Bank (SARB) Governor Lesetja Kganyago has warned leaders that a wave of populism sweeping a number of global economies was a sign that leaders should be more responsible and accountable.  Speaking at the Association of Black Securities and Investment Professionals conference... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability 

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Imbizo to promote green chemistry in South Africa

By: Natasha Odendaal     19th October 2018 The National Cleaner Production Centre of South Africa (NCPC-SA) is working steadily behind the scenes to promote and develop the concept of green chemistry, as part of a global initiative driven by the United Nations Industrial Development Organization (UNIDO) and Yale University’s Center for... 

South32 reports strong manganese and coking coal performance 

By: Esmarie Iannucci     18th October 2018 Diversified miner South32 on Thursday reported a record quarter at its Australian manganese operations, while metallurgical coal production was up 39% on the previous quarter. “Annual production guidance is maintained for all our operations, with Australia manganese achieving another quarterly... 

Brazilian assets start to deliver for Oz

By: Esmarie Iannucci     17th October 2018 Copper/gold producer Oz Minerals has reported an increase on copper production for the three months to September, following the addition o f the Antas copper project, in Brazil. Copper production in the September quarter was up to 31 919 t, up from the 27 131 t produced in the previous quarter,... 

Samarco could begin partial production in 2020 after dam burst – Vale CEO

By: Reuters     17th October 2018 Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020, Vale's CEO said on Tuesday. Samarco halted operations in late 2015 after one of its dams collapsed, killing 19 people and causing one of Brazil's... 

Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021

By: Reuters     16th October 2018 Anglo American should restart operations at its Brazilian Minas Rio iron ore mine in November or December but a planned ramp-up to 26.5-million tonnes per year is likely to be pushed back to 2021 from 2020 as previously expected, the miner's Brazil chief said on Tuesday. The company halted... 

Honeywell, ERG to collaborate on mine efficiencies

By: Marleny Arnoldi     16th October 2018 NYSE-listed Honeywell and Eurasian Resources Group (ERG) have signed a memorandum of understanding (MoU) to develop innovative technologies that will increase productivity at ERG’s operations in Kazakhstan, Brazil and several African countries. Under the terms of the MoU, Honeywell will... 

Rio Tinto copper output jumps; iron-ore, aluminium production slip

By: Esmarie Iannucci     16th October 2018 Diversified major Rio Tinto has reported lower production across nearly all its commodities, besides copper, in the three months to September. “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the group’s copper assets,” Rio CEO... 

Equinox Gold raises $75m for Mesquite acquisition

By: Creamer Media Reporter      12th October 2018 Canadian firm Equinox Gold has raised $75-million through private placements to fund part of its acquisition of the Mesquite gold mine, in California. The company is buying the 135 000 oz/y mine from New Gold for $158-million. 

Polymer Concrete Market Growing At 3.5% CAGR To Reach USD 600 Million By 2025

12th October 2018 According to a new research report by Global Market Insights, Inc. Polymer Concrete Market size is forecast to exceed USD 600 million by 2025. High polymer prices may prove to become a obstacle in the growth of the polymer concrete market. Few resins, fibers or acrylates that are added to the... 

Rio Tinto to take hit on legacy alumina contracts

By: Esmarie Iannucci     12th October 2018 Diversified miner Rio Tinto has warned of a $178-million impact on its financials during the first half of 2018, due to its legacy alumina contracts. The miner supplies some 2.2-million tonnes of alumina under legacy contracts, which are priced at a percentage of the benchmark aluminium price. 

ACSA reports fall in earnings in line with lower aeronautical charges

By: Rebecca Campbell     12th October 2018 The Airports Company South Africa (ACSA), one of the few South African State-owned companies that has been able to keep itself financially healthy, reported recently that, despite declines in its revenues, profits, and earnings before interest, tax, depreciation and amortisation (Ebitda), it was... 

What’s changed and what remains the same 20 years after the launch of Google Search?

By: Natasha Odendaal     12th October 2018 As Google Search celebrates its twentieth year, the local division has revealed how South Africans use search, the significant surge in searches and overhauls underway to improve the popular feature. Google has experienced significant growth over the past two decades, starting from an offering in... 

China swoops in on Canadian oil that's $50 below US crude

By: Bloomberg     11th October 2018 Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60% cheaper than US benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy, sludgy crude. That’s because – apart from being a source of fuel – it’s... 

Opec sees weaker demand for its crude next year as rivals surge

By: Bloomberg     11th October 2018 Opec is under intense pressure right now from consumers to ease prices by pumping more crude, but for 2019 it sees a more doubtful picture. The cartel cut its estimate for global demand for its crude next year due to weakening economic growth and higher output from rivals, notably US shale... 

Drought forces two-month closure of Leagold Brazil mine

By: Mariaan Webb     11th October 2018 Latin America-focused Leagold on Wednesday announced a two-month shutdown of its RDM mine, in Brazil, citing continued regional drought conditions. In 2017, the RDM mine was closed on August 11 and restarted, on an intermittent basis, in early November with the onset of the region's rainy season. 

Rio Tinto to restart sale of Icelandic aluminium plant – sources

By: Reuters     10th October 2018 Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350-million, two sources familiar with the matter said. The assets include a 53% stake in a Dutch anode facility and 50% of the shares in a Swedish... 

FairPlay welcomes Minister’s fuel ethanol policy strategy, to host ethanol strategy conference in November  

By: Marleny Arnoldi     10th October 2018 Nonprofit organisation FairPlay has welcomed government’s decision to revive its biofuels strategy, stating that a mandatory bioethanol fuel blend will benefit the country through job creation, increased fixed investment, technology development and energy security, as well as expanded sugar... 

Hydro CEO says focus on full output at Alunorte, no layoffs

By: Reuters     10th October 2018 Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there, CEO Svein Richard Brandtzaeg told Reuters on Wednesday. Hydro had said last week it would close down the world's largest alumina refinery and lay off 4... 

BHP aims to restart Olympic Dam copper facility this month

By: Reuters     10th October 2018 BHP expects a plant at its Olympic Dam mine to restart this month following repairs and the company has found a way to deliver returns from the asset as part of a focus on maxmising productivity, its head of Australian operations said on Tuesday. "The expectation remains that we'll have that... 

Codelco plans to raise $1bn in 2019

By: Reuters     10th October 2018 Chile's State-owned miner Codelco, the world's largest copper producer, plans to raise up to $1-billion next year to help finance the overhaul of its existing mines, chairperson Juan Benavides said on Tuesday. Benavides also said the company was looking at exploration projects in Brazil, Ecuador... 

Volkswagen is near hiring top banks for truck unit IPO

By: Bloomberg     9th October 2018 Volkswagen is close to hiring banks and advisers to work on an initial public offering (IPO) for its heavy-truck division, according to people with knowledge of the matter. Citigroup, Deutsche Bank, Goldman Sachs Group and JPMorgan Chase & Co are likely to win mandates as global coordinators for... 

Actop Asphalt further boosts Capacity

9th October 2018 To meet the asphalt needs of a newly-awarded road rehabilitation project in the Mpumalanga area, asphalt specialist, Actop Asphalt has invested in a new Ciber continuous mobile asphalt plant that sets new standards with its range of innovative technologies and, more importantly, its ‘super... 

IMF cuts world economic growth forecasts as import tariffs, emerging market issues bite

By: Reuters     9th October 2018 The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows. The... 

Global growth at risk from $100 oil next year, BofAML says

By: Bloomberg     9th October 2018 If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year -- but this hinges crucially on the dollar, according to Bank of America Merrill Lynch. Sanctions on Iran, shale bottlenecks, Venezuelan turmoil and increased demand pose an upside... 

Hydro restarts Brazil alumina refinery at half capacity

By: Mariaan Webb     8th October 2018 Norwegian aluminium company Norsk Hydro will restart its Alunorte alumina refinery, in Brazil, at 50% capacity, following approval by federal environmental agency IBAMA to use its press filter technology for processing bauxite residues. The “exceptional” authorisation, which was granted on... 

Hydro shuts Brazil alumina refinery and bauxite mine

By: Mariaan Webb     3rd October 2018 Norwegian aluminium company Norsk Hydro on Wednesday announced that it would shut down its Alunorte alumina refinery and its Paragominas bauxite mine, in Brazil, owing to a dispute with authorities over water discharges from the refinery. The refinery – the world’s largest alumina producer – has... 

SARB says don't underplay risk of CPI passing 6%

By: Bloomberg     3rd October 2018 The risk that South African inflation will overshoot the 6% upper limit of the Reserve Bank’s target should not be underestimated given the volatile global environment, Deputy Governor Daniel Mminele said. An extended and sizable deviation in price growth from 4.5% “would raise the risks of... 

Vale, BHP reach final deal with prosecutors over Brazil disaster

By: Reuters     3rd October 2018 Brazilian prosecutors in Minas Gerais state said on Tuesday they reached a final compensation deal with mining companies Samarco, Vale and BHP Billiton regarding a 2015 dam burst, Brazil's largest ever environmental disaster. According to a statement from prosecutors released late on Tuesday, the... 

Tullow Oil optimistic about prospects in Africa

By: Kim Cloete     2nd October 2018 Oil and gas exploration and production company Tullow Oil has outlined its sharper and deeper focus on Africa, with upbeat outlooks for its projects in both West and East Africa.   Despite a shift to cleaner energy and alternative energy sources, Tullow Oil also believes there will be strong... 

China's at 'peak steel' right now, top iron-ore shipper says

By: Bloomberg     2nd October 2018 The world’s largest steel market is about to go into reverse. Production in China will peak in 2018 and then shrink next year as local demand drops, according to forecasts from the Australian government, which says the shift will add to headwinds for core ingredient iron ore. Mainland steel... 

Jangada gains enviro approval for trial mining

By: Creamer Media Reporter      1st October 2018 South America-focused platinum group metals (PGM) project developer Jangada Mines on Monday announced that it had been issued an environmental licence for trial mining at the Pedra Branca project, in north-eastern Brazil. The environmental licence is the final requirement before the company can... 

Rand-Air's MIRS training investment – 'generating’ the power behind top-quality staff

28th September 2018 In the 45 years since Rand-Air’s inception, this market-leading compressed air and generator rental business has not only maintained a stringent focus on the quality of its products  and customer service – but also the quality of the people who provide the critical interface between the company... 

Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium

By: Terence Creamer     28th September 2018 Black economic empowerment (BEE) consortium Off The Shelf Investments (OTS) confirmed on Friday that it had acquired Chevron South Africa (CSA) in a deal valued at $1-billion and financed by its technical and financial adviser, Glencore. CSA, which owns the Chevron refinery in Cape Town and the... 

New species of dinosaur found in the Free State

By: News24Wire      28th September 2018 A new species of dinosaur, roughly double the size of a large African elephant, has been discovered in the Free State. "The plant-eating dinosaur, named Ledumahadi mafube, weighed 12 t and stood about 4 m high at the hips. Ledumahadi mafube was the largest land animal alive on Earth when it... 

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