R/€ = 15.35 Change: -0.08
R/$ = 13.67 Change: -0.05
Au 1335.30 $/oz Change: -3.53
Pt 1042.50 $/oz Change: -12.00


Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Ivanhoe announces more high-grade copper results from Kakula discovery

By: Anine Kilian     23rd September 2016 The 2016 drilling campaign at Ivanhoe Mines’ Kakula discovery, in the Democratic Republic of Congo, is continuing to demonstrate that it is substantially richer, thicker and more consistent than other mineralisation at the the Kamoa project. The Kamoa project is a joint venture between Ivanhoe... 

Kibo, Sepco agree to 3-week extension on MCPP development cost determination

By: Natasha Odendaal     23rd September 2016 Aim- and Alt-X-listed Kibo Mining has agreed to a three-week extension for the determination of the final development amount still due by China-based contractor Sepco III as part of a redefined agreement for the progression of Kibo’s Mbeya coal-to-power project (MCPP), in Tanzania. The agreement,... 

China leads aluminium production

By: Sebastian Whyle     23rd September 2016 China is currently the biggest producer and consumer of aluminium in the world and has expanded its aluminium industry considerably over the past 11 years, says metals trading company Metal and Tool Trade (MTT) board chairperson Volker Schütte.  

Elevator manufacturer to supply 183 electric elevators

     23rd September 2016 Diversified holding group Sunriver Holding Group will purchase 183 Otis Electric elevators for its new residential and recreational developments in Anhui province, China. 

Gibe III dam, Ethiopia

By: Sheila Barradas     23rd September 2016 Electricity generation at the Gibe III hydropower dam has hit 800 MW after the sixth turbine was switched on. 

Global leader receives tender for new escalators

     23rd September 2016 Elevator and escalator industry global leader Kone has won an order from Stockholm County Council to modernise and maintain 13 escalators at six metro stations in Sweden's capital. 

Integration of digital tech seen as critical to future business success

By: David Oliveira     23rd September 2016 Companies that incorporate digital technology that is customer-centric are most likely to succeed in the business world of tomorrow, says research-based consultancy Forrester Consulting VP and principal analyst Nigel Fenwick. In a presentation following the release of a paper titled ‘Business and... 

Market research shows growth in lift and escalator industries

     23rd September 2016 The global lift and escalator market was valued at $86-billion in 2012 and is expected to grow steadily from 2016 to 2020 spurred by robust demand from Asia, according to a report released last month by market research company Research and Markets. 

Power trends

By: Terence Creamer     23rd September 2016 In light of recent disruptions in the sector, as well as sharply rising tariffs, electricity remains a hot topic in South Africa. There is an especially heated debate currently under way about what would be the lowest-cost generation mix, particularly in light of the country’s weaker... 

Moly Mines eyes Qld DSO bauxite project with Gulf Alumina deal

By: Mariaan Webb     22nd September 2016 Perth-based Moly Mines has set its sights on a direct shipping ore (DSO) bauxite project north of Weipa, in Queensland, announcing on Thursday that it will buy Gulf Alumina. Moly will offer Gulf’s shareholders a combination of A$0.46 in cash and 1.4 options for each share they hold. 

Ex-limo firm, billionaires bet on iron-ore with mines, M&A

By: Bloomberg     22nd September 2016 The global iron-ore market is awash with supply and prices remain volatile, but a former Chinese limousine rental service and a billionaire New Zealand family are among producers and developers wagering new mines will be needed. Their focus is Western Australia, the industry heartland in the... 

South African rating cut a serious risk, De Beers CEO says

By: Bloomberg     22nd September 2016 South Africa is in deep danger of losing its investment-grade credit rating and needs to reassure investors of its commitment to regulatory certainty and fiscal stability, said Bruce Cleaver, the chief executive officer of De Beers, the world’s largest  diamond producer. “South Africa is in a... 

Unctad proposes import-substitution strategy for South Africa 

By: Terence Creamer     21st September 2016 African economies will grow on average by only 2% in 2016 and South Africa by just 0.3%, the United Nations Conference on Trade and Development’s (Unctad’s) latest Trade and Development Report states. North Africa will expand by 1.7% and sub-Saharan Africa by 2.8%, excluding South Africa. The... 

Global steel production rises 1.9% y/y in August

By: Megan van Wyngaardt     21st September 2016 World crude steel production for the 66 countries reporting to the World Steel Association rose 1.9% year-on-year to 134.1-million tonnes in August. China’s crude steel production for August was 68.6-million tonnes, an increase of 3%, while Japan’s production was up 1.5% to 8.9-million tonnes. 

Henan Mingtai Aluminium awards order for supply of new cold mill for wide aluminum strip to SMS group

     21st September 2016 Henan Mingtai Al. Industrial Co., Ltd., located in Gongyi, China, has awarded SMS group the order to supply a six-high cold rolling mill for wide aluminum strips. The wide range of products to be rolled on the new cold mill, including grades from soft to hard from the alloy... 

‘Better-than-Canada’ is Philippine reform cry as mines shut

By: Bloomberg     21st September 2016 The Philippines deepened a crackdown on its mining industry on Wednesday as world’s top nickel shipper announced it will suspend more than 10 mines in addition to 10 halts that have already been made, saying it wants to surpass Canadian and Australian standards. The government is finalising... 

Glencore sees nickel price rising on global supply shortage

By: Bloomberg     21st September 2016 Glencore, the commodities trader and miner, expects nickel prices to climb through 2018 as demand outstrips supply, assuming Indonesia continues its policy of curbing ore exports and encouraging local processing. “We believe we’ve seen the bottom, both in terms of the actual spot prices... 

Ningxia Iron & Steel orders high-speed equipment from SMS group for new wire rod mill

     20th September 2016 Ningxia Iron & Steel based in Zhongwei City, China, is expanding its product portfolio and increasing its capacity with new high-speed wire rod mill equipment from SMS group . The core equipment supplied by SMS group for the new one-strand mill will include a ten-stand wire rod... 

FA 07 Refineries are quite sophisticated

     20th September 2016 Valve makers are increasingly targeting refineries outside of Europe. Energy efficiency is decisive for the competitiveness of refinery operators and their valve suppliers. Refineries always are in operation, and simply cannot be replaced. Traffic can only flow with their products, namely petrol... 

China to proceed with biggest steel merger in almost a decade

By: Bloomberg     20th September 2016 Two of China’s biggest steelmakers agreed to merge their listed units, moving a step closer to a union that would create the nation’s biggest mill and a company with the scale to rival ArcelorMittal. The publicly traded arm of Shanghai Baosteel Group, the second-biggest Chinese mill by output,... 

Iron’s 50m extra tons spell weaker price – Liberum

By: Bloomberg     20th September 2016 The world’s top iron-ore suppliers including Brazil’s Vale will add almost 50-million tons of supply in the 12 months to next June, undermining prices and feeding a global glut, according to Liberum Capital. Suppliers that also include Australia’s BHP Billiton, Rio Tinto and Gina Rinehart’s Roy... 

Takata shares tank after report some bidders considering bankruptcy proceedings

By: Reuters     20th September 2016 Shares in Takata Corp fell as much as 9% on Tuesday after a Bloomberg report that some of the company's bidders are considering the possibility of some form of bankruptcy proceedings for the troubled Japanese air bag maker. Citing people familiar with the bidding process, Bloomberg reported on... 

Rio turns China optimist, sees copper’s 'twilight zone' exit

By: Bloomberg     20th September 2016 Rio Tinto, the world’s second-largest mining company, is becoming more optimistic on the outlook for commodities demand in China after recent data pointed to a pickup in the construction market. “The drop that we had experienced for the last two or three years in China seems to have plateaued,”... 

DCD completes winder build for Zambian mine

     19th September 2016 Vereeniging-based specialist manufacturer DCD Heavy Engineering – part of the DCD Group’s mining and energy cluster – is nearing completion on a two-year project to produce winder drums for a copper mine in Zambia. The contract was for two double-drum winders for hoisting rock and two single-drum... 

Zinc demand set to outpace production

By: Megan van Wyngaardt     19th September 2016 Global zinc demand growth is set to marginally outpace production growth between now and 2020, averaging 1.7% and 1.3%, respectively, advisory firm BMI Research said on Monday. Refined zinc production is slowing as weak prices and an ore shortage force major producers to curb output. 

Japan steelmakers suffer from China cuts as coal tops $200

By: Bloomberg     19th September 2016 Japan’s steelmakers are set to pay for China’s effort to manage its coal industry as a surge in metallurgical prices flow through to quarterly supply contracts. Spot hard coking coal has more than doubled this year to trade above $205 a metric ton and the gain will be taken into consideration... 

Wacker Neuson Group confident for 2016 – despite a difficult start to the year

     16th September 2016 During the first quarter of 2016, international light and compact equipment manufacturer Wacker Neuson continued to feel the impact of difficult conditions across many of its markets, in particular in the Americas region. Although the Group managed to maintain revenue at almost the same level as... 

South African, Chinese groups enter industrial partnership in maritime sector

By: Keith Campbell     16th September 2016 South African defence industrial group Denel and China's Poly Technologies signed a partnership agreement at the Africa Aerospace and Defence exhibition in Centurion, just south of Pretoria, on Friday. This agreement is "to develop our joint Denel/Poly Technologies maritime business in South... 

US mining industry in flux as policy, economic and enviro challenges force change

By: Henry Lazenby     16th September 2016 The outcome of the November 2016 US Presidential election will not reverse the decline in the US mining industry’s value, as the beleaguered coal industry continues to face market headwinds. Rather, the results will determine the trajectory of environmental regulations and, therefore, raise or... 

KPC finds rail solution for Kazakhstan potash projects

By: Esmarie Swanepoel     16th September 2016 ASX-listed explorer Kazakhstan Potash Corporation (KPC) has inked a framework agreement with the national rail operator that would look to integrate the transportation requirement of the company’s potash projects for shipment through to China into the Kazakhstan national railway network. KPC CEO... 

Automotive HVAC market set to garner higher revenue globally

By: Sebastian Whyle     16th September 2016 Syndicated market research provider Allied Market Research (AMR) projects that the automotive heating, ventilation, and air-conditioning (HVAC) systems market will garner revenue worth $22.8-billion by 2022.  

Farm equipment supplier launches locally manufactured solutions

By: David Oliveira     16th September 2016 Local heavy duty equipment supplier and manufacturer Wuhlf Equipment launched four locally manufactured machines last month, including two front-end loaders, a mulcher and a forklift. Wuhlf Equipment manager Coert Steenberg tells Engineering News that the company originally imported its equipment... 

Korean auto firms aiming to assemble bakkies at Benoni plant

By: Irma Venter     16th September 2016 Kia Motors South Africa (KMSA) is close to finalising a deal with Hyundai Motors South Africa (HMSA) to assemble its K2700 and K2500 workhorse bakkies at HMSA’s Benoni plant, says KMSA CEO Ray Levin. HMSA assembles the Hyundai HD65 and HD72 medium-duty trucks at the Benoni facility, as well as... 

The Great Wall of Trump

By: Terry Mackenzie-hoy     16th September 2016 In this and future columns (well, in at least one), I will be discussing some of the electrical engineering issues coming out of the US election campaign and the promises made by the candidates. There is a song which goes: “If you’re white, you’re all right; if you’re brown, stick around; if... 

UK PM firm on only revealing fate of nuclear project later this month

By: Keith Campbell     16th September 2016 The future of Britain’s first major nuclear power plant (NPP) project in two decades, Hinkley Point C, remains uncertain. In July, the new British Prime Minister, Theresa May, took everyone by surprise when she announced a delay in the approval for the project. Hinkley Point C is to be a European... 

Lundin gets another extension on right of first refusal to Freeport’s Tenke Fungurume

By: Henry Lazenby     15th September 2016 Diversified Canadian base metals miner Lundin Mining got a two-week extension to its right of first refusal on US diversified miner Freeport McMoRan’s (FCX’s) 70% indirect interest in TF Holdings, which holds 80% of the world-class Tenke Fungurume copper/cobalt mine, in the Democratic Republic of... 

Millennials spent more than $25bn on diamond jewellery in 2015 – report

By: Anine Kilian     15th September 2016 Millennials spent more than $25-billion on diamond jewellery in the four largest consumer markets in 2015, according to the 'Diamond Insight Report 2016' published by De Beers Group. Despite millennials facing more financial challenges than their parents’ generation, they already account for... 

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