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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... 

Surging iron-ore won’t ‘fall off a cliff’, says Rio Tinto

By: Bloomberg     13th February 2017 Iron-ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter. “I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial... 

REMA TIP TOP strives for strong market position in Brazil

     13th February 2017 REMA TIP TOP, a globally operating system provider of services and products in the field of conveying and treatment technology as well as tyre repair, has acquired Norte Sul Serviços de Vulcanização (“Norte Sul Serviços”), a conveyor maintenance provider in Brazil. Through the acquisition, REMA... 

Busa worried about Sona violence, agrees greater economic transformation is needed

By: Megan van Wyngaardt     10th February 2017 The events that unfolded at Thursday’s State of the Nation Address (Sona) by President Jacob Zuma, are of serious concern and undermine the country’s progress in and towards open, transparent and constructive dialogue, Business Unity South Africa (Busa) said on Friday. “Democracy depends on... 

IEA says record Opec cut compliance helps oil market rebalance

By: Reuters     10th February 2017 Global oil output plunged in January as Opec and non-Opec producers curbed supply to accelerate a market rebalancing following one of the largest oil gluts in a generation, the International Energy Agency said on Friday. Oil supplies fell by around 1.5-million barrels per day last month,... 

Verde Agritech stock leaps on Brazil enviro licence approval

By: Henry Lazenby     10th February 2017 The TSX-listed stock of plant nutrient project developer Verde Agritech nearly doubled to a new 12-month high late on Thursday, after it announced that the Minas Gerais State Environmental Agency had issued an environmental licence for its Cerrao Verde project. "With this long-awaited... 

Automotive industry to achieve international standards with new gas

     10th February 2017 Honouring its commitment to the Kigali Amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer, specialty chemicals and gas company A-Gas South Africa will be phasing out commonly used high global warming potential (GWP) refrigerants in its product range. 

Leave the science of climate change to scientists

By: Kelvin Kemm     10th February 2017 I saw on television that Prince Charles has just brought out a booklet on climate change, designed to teach people about the issue. The book is written by him and two academics, supposedly. No doubt, that means that the other two wrote it and he put his name on the top of the author list. 

Production capacity grows in SA automotive industry

By: Robyn Wilkinson     10th February 2017 The outlook for the local automotive industry for the next three to five years is very positive, with several manufacturers planning upgrades and expansions at their facilities to increase capacity, says drive technology provider SEW Eurodrive South Africa (SA) sales engineer Willem Strydom. 

Atlas Copco plans to divest its road construction equipment business

     9th February 2017 The Board of Directors of Atlas Copco AB has decided to divest the Road Construction Equipment division.  The reason for the planned divestment is that the division does not have the economies of scale to become number one or two in this market segment. With the divestment, Atlas Copco aims to... 

Galaxy raises A$61m to fund project development

By: Esmarie Swanepoel     8th February 2017 Lithium miner Galaxy Resources will raise some A$61-million through a share placement to institutional and sophisticated investors to fund the development of its Sal de Vida and James Bay projects, in Argentina and Canada respectively. Galaxy on Wednesday told shareholders that some 113-million... 

AngloGold buys 15% stake in Australia’s Orinoco

By: Esmarie Swanepoel     7th February 2017 Gold hopeful Orinoco has struck a strategic partnership with South African gold miner AngloGold Ashanti, under which it would receive a A$5.9-million capital injection in return for AngloGold taking a 15% stake in Orinoco. AngloGold will subscribe for more than 85.1-million shares in Orinoco,... 

Agreement significant in phasing down ozone depleting substances

     3rd February 2017 Specialty chemicals and gas company A-Gas South Africa (SA) has hailed the signing of the Kigali Amendment on October 15, 2016 as an “historic international agreement” for the phasedown of commonly used, high global warming potential (GWP) refrigerants. 

Switzerland to share skills development insight with South Africa

By: Tasneem Bulbulia     3rd February 2017 Best practice cases for skills development and implementation from Switzerland will be the focus for skills development company Expect More International (EMI) at the first Switzerland and South Africa Sustainable Skills Development Conference. EMI partner Bert Evers notes that the 2017... 

EU rebuffs South African claim of chicken imports being cause of industry distress 

By: Terence Creamer     31st January 2017 The European Union (EU) is strongly contesting arguments that its chicken exports to South Africa are the main cause of the current distress in the industry, asserting that “structural” problems in the South African industry are the main reason for its lack of competitiveness. Ambassador Marcus... 

Poultry industry to mark ‘day of misery’ with protest march against EU imports 

By: Anine Kilian     30th January 2017 The Food and Allied Workers Union (Fawu) will, on Wednesday, hold a protest march in Pretoria against the dumping of chicken in South Africa by European Union (EU) countries. This is in response to 1 350 employees losing their jobs after packaged goods and milling company RCL Foods, formerly... 

BHP-Vale mine restart encounters new obstacle – a small-town mayor

By: Bloomberg     27th January 2017 BHP Billiton and Vale’s crippled Samarco mine, once the world’s second-largest producer of iron-ore pellets, has a new obstacle threatening to slow its much-anticipated restart: a small-town mayor. The Brazilian city of Santa Barbara declined to sign off this week on a plan for Samarco to... 

Caterpillar beats Q4 earnings forecast, optimistic about infrastructure plans

By: Henry Lazenby     27th January 2017 US earthmoving and construction equipment manufacturer Caterpillar has reported flat year-on-year adjusted earnings for the December quarter, reflecting pressure in many of its end markets owing to weak economic conditions in several parts of the world. The Peoria, Illinois-based company reported... 

Brazil plans flexible iron-ore royalty rate of 2%-4% – report

By: Reuters     26th January 2017 Brazil's government plans to introduce a bill to set a flexible royalty rate for iron-ore that would be between 2% and 4% depending on international prices for the steelmaking raw material, Broadcast reported on Thursday. The current iron ore royalty rate is 2%. 

Anglo American Q4 output broadly higher but copper output down 19%

By: Ilan Solomons     26th January 2017 Diversified miner Anglo American achieved higher output for most of its products in the fourth quarter ended December 31, but copper production fell by 19% year-on-year. The lower copper production, which decreased to 146 600 t, was mainly the result of lower grades and the impact of adverse... 

South Africa slightly improves score in corruption perceptions index, rank drops

By: Sashnee Moodley     25th January 2017 While South Africa slightly improved its score in the Corruption Perceptions Index (CPI) for 2016 from 44 to 45, its rank in relation to all 176 countries reviewed fell three points to 64. Global civil society organisation Transparency International’s CPI score refers to the perceived level of... 

Iron to ‘correct down sharply’ as supply rises, Citigroup says

By: Bloomberg     24th January 2017 Iron-ore is headed for a sharp decline as higher-grade supplies from Brazil and Australia are set to increase, according to Citigroup, which combined its forecast for a second-half tumble with upgrades to the bank’s outlook in the opening quarters of the year. Recent gains have been supported by... 

Industrial Explosives Market Is Expected to Reach $196,299 Million, Globally by 2022

     19th January 2017 Industrial Explosives Market by type (High Explosives, ANFO, Emulsions and Others), end-use industry (Metal Mining, Non-Metal Mining, Quarrying, Construction and Others) is projected to reach $15,888 million by 2022, growing at a CAGR of 6.7% from 2016 to 2022, according to a new report by... 

BHP and Vale set June deadline to settle Samarco claims

By: Esmarie Swanepoel     19th January 2017 Mining major BHP Billiton and its joint venture (JV) partner Vale have set a June 30 deadline to conclude negotiations with Brazilian prosecutors over the 2015 Samarco tailing dams failure, which killed 19 people. The parties have reached a preliminary agreement with Brazil, which outlines the... 

South32 says FY targets within reach despite challenging Dec quarter

By: Esmarie Swanepoel     19th January 2017 Despite a challenging December quarter, diversified mining company South32 remains on track to achieve its production guidance for the majority of its operations. The miner, which is the world’s biggest manganese ore producer, on Thursday reported higher manganese production, but said that its... 

Pound climbs as Theresa May outlines how Brexit will happen

By: News24Wire      17th January 2017 Theresa May, British Prime Minister, said on Tuesday that the country cannot “possibly” remain within the European Union’s single market, as that would mean the UK is not leaving the EU at all. May’s long-anticipated speech, in which she outlined the UK’s approach and objectives when finally... 

Zest Energy Provides Mobile Power For Kamoa-Kakula Mine Development In The DRC

     16th January 2017 The development of the world’s largest high-grade copper deposit – the Kamoa-Kakula Copper Project in the Democratic Republic of Congo– now is running on power from the DRC’s national grid using a mobile substation recently commissioned by South Africa’s Gauteng-based Zest Energy. The 120/11 kV... 

Global unemployment to rise by 3.4m in 2017 as economies struggle

By: Megan van Wyngaardt     13th January 2017 Global unemployment is expected to rise by 3.4-million this year, spurred by deteriorating labour market conditions in emerging countries, the International Labour Organisation (ILO) has said. In its latest ‘World Employment and Social Outlook – Trends 2017’ report, the organisation outlined that... 

Thirty-two tons a second shows China’s record iron appetite

By: Bloomberg     13th January 2017 Iron-ore imports by China surged to a record above one-billion metric tons last year as unexpectedly strong steel production and lower local mine output combined to fire up demand in the world’s top buyer for cargoes from Australia and Brazil, supporting a rebound in prices. Asia’s top economy... 

Dragflow Announces Four New Contracts For Custom Dredgers

     12th January 2017 The last quarter of the 2016 has been a busy time for DRAGFLOW technical and manufacturing teams as we received four important orders for custom-made dredgers. In the first place. A contract for five (5) dredgers, model DRH300E23 has won  for sand and gravel extraction in Middle East. The... 

Would-be kingmaker calls out Australian iron giants in ore tax battle

By: Bloomberg     12th January 2017 The world’s biggest mining companies producing iron ore from Australia aren’t paying their fair share in taxes, according to a lawmaker who wants a 20-fold raise in a state levy that’s been unchanged since the 1960s and the era of imperial pounds, shillings and pence. The proposal has... 

Cosatu demands urgent govt intervention to save poultry industry, jobs 

By: African News Agency      11th January 2017 The Congress of South African Trade Unions (Cosatu) on Wednesday said it was deeply concerned by the pending jobs blood bath in the poultry industry, and also alarmed by government’s “deafening silence” on a matter of the utmost national concern. This comes after Rainbow Chickens Limited, the... 

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