http://www.engineeringnews.co.za
R/€ = 13.77 Change: -0.02
R/$ = 12.99 Change: -0.05
Au 1253.76 $/oz Change: -9.51
Pt 1031.00 $/oz Change: -13.50
 

Topic

Peru to cut red tape in bid to spur mining exploration

By: Reuters     Updated 1 hour 19 minutes ago Peru will introduce new rules this week that will aim to turn around the Andean country's three-year slump in mining investment by eliminating permit requirements for exploration projects, the energy and mines minister told Reuters on Monday. Ahead of a visit to Toronto for the annual Prospectors... 

Teck bullish on coal, but not enough to add production capacity

By: Bloomberg     Updated 1 hour 25 minutes ago Teck Resources is bullish on steelmaking-coal prices, but not enough to add production capacity, said the head of Canada’s largest diversified miner. “I’m feeling excited,” Teck CEO Don Lindsay said Monday in a Bloomberg TV interview. “In the last 10 days we’ve seen a clear change in direction in... 

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... 

China iron-ore, steel resume rally amid steel curbs, demand pickup

By: Reuters     27th February 2017 Iron-ore and steel futures in China jumped more than 4% on Monday, resuming their rally, amid planned curbs in steel production in key areas and a pickup in seasonal demand. Rebar prices pushed to a fresh three-year high and iron-ore neared a record peak, as both commodities benefited from... 

Aus gold production reaches 17-year high

     27th February 2017 Australian gold production rose to its highest levels since 1999 in 2016, at 298 t, gold mining specialist Surbiton Associates reported. Gold production in 2016 was worth some A$15-billion at the current gold price of A$1 600/oz, and was up 10 t, or 3.5% from 2015 production levels. During the... 

Embrace automation to stay ahead, advises Omron

By: Kim Cloete     27th February 2017 South African companies will increasingly need to embrace automation and rapidly expanding technologies to maintain their global competitiveness, says Omron Electronics Country GM Victor Marques. “The world is moving fast in this direction and developing countries like South Africa will need to... 

Copper not expected to hit $3/lb until mid-year

By: Henry Lazenby     25th February 2017 Bank of America Merrill Lynch (BofAML) does not expect the copper price to rally to $3/lb at least until mid-year, as a softer Chinese copper market and global policy uncertainty weighs. After rallying by 28% in the fourth quarter of 2016, copper prices have held up in the first quarter of this... 

China's coal imports from North Korea ease after sanctions

By: Reuters     24th February 2017 China's coal imports from North Korea eased last month after new UN Security Council sanctions curbing the isolated country's sales of the fuel abroad came into effect, as Russia, Mongolia, Australia and Indonesia raised shipments, data showed on Friday. January imports eased 13% from a year... 

Eldorado posts Q4 loss as sales slide, costs rise

By: Henry Lazenby     24th February 2017 Canadian multinational miner Eldorado Gold has reported a loss attributable to shareholders for the quarter ended December 31 of $32.5-million, or $0.05 a share, as lower sales volumes and higher unit costs, were partly offset by higher gold prices. In the comparable period a year earlier, the... 

Growth in copper supply to slow through 2020 – ICSG

By: Henry Lazenby     24th February 2017 Global copper mine production growth is expected to slow to 2.5% a year through 2020, down from an average growth rate of almost 4% a year in the last five years, the International Copper Study Group (ICSG) said on Thursday. The Lisbon, Portugal-based think tank cited continued delays in project... 

Dangote Group planning $100m vehicle assembly plant for Lagos

By: Irma Venter     24th February 2017 The Dangote Group plans to establish a $100-million vehicle assembly plant project, in Lagos, Nigeria. The Dangote Group is a Nigerian multinational industrial conglomerate. 

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... 

IOC pulls the trigger on long-delayed C$79m Wabush 3 expansion

By: Henry Lazenby     23rd February 2017 Iron Ore Company of Canada (IOC), a subsidiary of Rio Tinto, will proceed with the C$79-million Wabush 3 expansion project at its remote iron-ore mine in the Labrador Trough of Newfoundland and Labrador. Wabush 3 is a new pit that will be developed within IOC's existing mine operations to extend... 

Analysts acclaim Glencore’s performance as good fundamentals return

By: Martin Creamer     23rd February 2017 Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and... 

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... 

Frankfurt Airport aims to increase its business with South Africa

By: Keith Campbell     23rd February 2017 Germany’s number one international airport, Frankfurt, is seeking to increase its two-way air cargo trade with South Africa. This was highlighted at a media briefing at the 2017 Air Cargo Africa conference in Kempton Park, east of Johannesburg, by Fraport AG chief operating officer Anke Giesen.... 

Guinea raises bauxite target to 60Mt by 2020

By: Reuters     23rd February 2017 Guinea aims to more than treble bauxite production to 60-million tonnes by 2020, investing heavily to meet strong demand for the raw material from China, its mines minister said on Wednesday. The West African naion has about a third of the world's bauxite reserves, which are refined and smelted... 

Nuclear deal – The calm before the storm? 

By: News24Wire      22nd February 2017 National Treasury’s 2017 Budget Review and Finance Minister Pravin Gordhan’s speech kept a wide berth from mentioning nuclear energy, following President Jacob Zuma’s cue in his 2017 State of the Nation Address.As anti-nuclear energy protesters chanted "no, no nuclear power" outside Parliament on... 

Goldman says commodities need proof of demand to rally more

By: Bloomberg     22nd February 2017 Commodity markets will probably stay in a “holding pattern” until there are hard data showing real demand and shrinking stockpiles to support the recent price rally, according to Goldman Sachs Group, which expects such evidence to emerge in the second quarter. “Market positioning is now extremely... 

Yonggang orders four-strand billet caster for new SBQ products from SMS Concast

     22nd February 2017 Yonggang, based in Zhangjiagang, China, has awarded SMS Concast, a company of SMS group www.sms-group.com, the order to supply a new four-strand SBQ billet caster. The project will involve replacing an old caster, while retaining part of the existing equipment, such as the ladle turret and the... 

Congo said to get $100-million to clear China Moly purchase

By: Bloomberg     22nd February 2017 The Democratic Republic of Congo’s state mining company received $100-million as part of a settlement to drop its objections to the sale of the country’s biggest copper mine to Chinese buyers, according to people with knowledge of the agreement. The cash payment was made last month after... 

Coordination key to successful nuclear new build programme

By: Megan van Wyngaardt     21st February 2017 There is a pressing need for a clear definition of the roles different governmental departments, power utility Eskom and other industry participants will play in the nuclear new build programme, as there is a currently “chaos around who is doing what job”. This was the overall theme that emerged... 

De Beers lifts FY16 underlying Ebitda by 42%

By: Ilan Solomons     21st February 2017 Higher revenues contributed to a 42% improvement year-on-year in diamond miner De Beers’ underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) to $1.4-billion in 2016. A 30% increase in revenue to $6.1-billion was driven by stronger rough diamond demand, which led to... 

DeGrussa delivers increased profits for Sandfire

By: Esmarie Swanepoel     21st February 2017 ASX-listed Sandfire Resources has reported a solid half-year, with higher profits and revenues. Profits after tax increased from A$15.7-million in the first half of the 2016 financial year to A$35.9-million in the first half of the current financial year, while revenues had increased from... 

Minergy to list coal project in Botswana, also eyeing JSE

By: Martin Creamer     20th February 2017 Coal and energy company Minergy said on Monday that it will list on the Botswana Stock Exchange in the first half of this year and is also planning a Johannesburg Stock Exchange listing in 2017’s latter half. In the initial capital raising ahead of the listing of its Masama coal project, Minergy,... 

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... 

DTI promises fast-tracked support for downstream steel industry

By: Terence Creamer     17th February 2017 The Department of Trade and Industry (DTI) insists that measures to support the downstream steel industry in South Africa are a priority for government and are being fast-tracked. In a statement outlining the various interventions undertaken since 2015 to support a primary steel sector wracked by... 

Shandong Tianye buys Hanking Australia for A$330m

By: Esmarie Swanepoel     17th February 2017 China’s Shandong Tianye Group has acquired unlisted Hanking Australia and its Southern Cross gold project, in Western Australia, for A$330-million. Hanking Australia, which is a subsidiary of Hong Kong-listed China Hanking Holdings, acquired the Southern Cross mine in 2013. The project is... 

New US President may benefit the resources sector

By: Henry Lazenby     17th February 2017 While Donald Trump is likely to lower US corporate taxes, bringing US dollars back into the country and rebuilding American infrastructure through a massive $1-trillion spending programme, the new President is coming in at the “US midnight”, Euro Pacific Capital founder and CEO Peter Schiff says.... 

Pockets of resilience, but SA’s manufacturing outlook remains fragile

By: David Oliveira     17th February 2017 South Africa’s manufacturing sector, which has been struggling to shed the ‘deindustrialisation’ mantle for the past three decades, despite vocal support for the sector from government, is unlikely to experience a dramatic turnaround in 2017. However, there are some signs of resilience and even... 

MAC laments Canada’s declining mining competitiveness

By: Henry Lazenby     17th February 2017 Canada's mining competitiveness is declining, while exploration and mining investment dollars are flowing offshore, a new report by the Mining Association of Canada (MAC) has found. “Very simply, Canada is not as attractive as it used to be for mineral investment and competition for those dollars... 

High-powered speakers lined up for Nuclear Africa

By: Kelvin Kemm     17th February 2017 South Africa’s nuclear programme has attracted a great deal of public interest. This has ranged from serious scientific and engineering interest to the emotional attacks of the extreme antinuclear lobby. The antinuclear crowd does not comprise South Africa only; there are Germans, Americans and... 

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),... 

Gautrain rolling stock procurement programme, South Africa

By: Sheila Barradas     17th February 2017 The Gauteng government is expected to announce the preferred bidder on the supply of new, additional rolling stock for the Gautrain system by mid-year. 

Global energy council ponders gas-related realities

     17th February 2017 In recent years, the gas market has undergone several changes - the discovery of new deposits, the evolution of gas transport techniques and the new gas pipelines are all elements that deeply modify this market, notes international energy organisation World Energy Council (WEC). The council notes... 

Pockets of resilience, but SA’s manufacturing outlook remains fragile

By: David Oliveira     17th February 2017 South Africa’s manufacturing sector is expected to grow by 0.5% this year and by 1.2% in 2018, according to data from economic analysis and forecast provider FocusEconomics. Financial institution Barclays’ latest purchasing managers’ index (PMI) released earlier this month indicates that the... 

German steel federation sees Chinese overcapacity persisting

By: Reuters     16th February 2017 The German steel federation expects Chinese overcapacity for steel production, which puts pressure on global prices, to persist in the coming years, its president said on Thursday. China's overcapacity was 360-million tonnes last year and is likely to remain well above 300-million tonnes in 2020,... 

Rio said to seek bank pitches on $1.5bn coal mine sale

By: Bloomberg     16th February 2017 Rio Tinto Group has asked banks to pitch for a role advising on the divestment of its last remaining coal operations in Australia, people with knowledge of the matter said. The London-based company has decided to pursue a sale of its Hail Creek and Kestrel mines after receiving unsolicited... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119 Close