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Big ‘focus’ on ensuring rail OEMs meet local-content commitments

By: Terence Creamer     24th June 2016 A senior Department of Trade and Industry (DTI) official “promised” on Friday that the department was giving focused attention to ensuring that the local-content targets associated with Transnet’s R50-billion locomotive procurement programme were met. Chief director for industrial procurement Dr... 

Portfolio committee chair questions DTI’s exclusion from ‘steel committee’

By: Terence Creamer     24th June 2016 The Portfolio Committee on Trade and Industry has raised serious concern about the exclusion of the Department of Trade and Industry (DTI) as a direct participant in so-called ‘steel committee’ set up to monitor interventions made to shore up the domestic primary steel industry, which is under... 

Worldsteel head sees no massive impact from Brexit in EU for now

By: Reuters     24th June 2016 Britain's decision to leave the European Union will not immediately have a strong effect on the European steel industry, the chairman of the World Steel Association said on Friday. "There is no massive direct impact to be expected for the European steel industry in the short term," Wolfgang Eder,... 

First shipment of WA bauxite en route to China

By: Samantha Herbst     24th June 2016 Lightweight metals manufacturer Alcoa is celebrating its first shipment of Western Australia bauxite as part of an export trial approved by the state government last year. Perth-based Alcoa Mining president Garret Dixon noted that the milestone shipment – a 47 000-t parcel of bauxite bound for an... 

Metallica gets green light to move forward with Urquhart sans EIS

By: Samantha Herbst     24th June 2016 The Commonwealth Department of the Environment has determined that ASX-listed Metallica Minerals’ Urquhart bauxite project, in north Queensland, does not require an environmental impact assessment (EIS), as the impact of the project is considered minimal. “This major milestone confirms that the... 

PanAust lodges special mining lease application for Frieda River

By: Mariaan Webb     24th June 2016 China-owned PanAust has applied for a special mining lease for the Frieda River copper/gold project, in Papua New Guinea. MD Dr Fred Hess said on Friday that the lodgement of the application represented a crucial milestone in PanAust’s pursuit of organic growth. 

Britain votes to leave EU, Cameron quits

By: Reuters     24th June 2016 Britain has voted to leave the European Union, forcing the resignation of Prime David Cameron and dealing the biggest blow to the European project of greater unity since World War Two. Global financial markets plunged as results from Thursday's referendum showed a near 52% to 48% split for leaving. 

UK vote pushes Australian gold price to all-time record

By: Creamer Media Reporter      24th June 2016 The United Kingdom’s (UK’s) vote to leave the European Union (EU) has driven the Australian dollar gold price to an all- time record on Friday. The likely ‘leave’ result pushed the Australian dollar gold price as high as A$1 830/oz in early afternoon Friday trading in Sydney. 

Cape Town doctor aiming to rewrite the sports safety-gear script

By: Irma Venter     24th June 2016 Fifteen years ago, Dr Chris Leatt witnessed the death of a fellow motorcycle rider a few weeks after his four-year-old son, Matthew, got on a bike and fell in love with the sport. “Alan Selby had fallen at the top of a hill and I travelled up with the paramedic to assist,” says Leatt from his... 

$5m equipment for Zim small-scale gold miners

By: Oscar Nkala     24th June 2016 Chinese-made mining equipment worth $5-million is to be delivered to small-scale gold miners in Zimbabwe by the end of August as the first consignment of a much bigger deal that has been in abeyance since 2012, owing to failure by the Southern African country to guarantee a loan from the China... 

Cape Town doctor aiming to rewrite the sports safety-gear script

By: Irma Venter     24th June 2016 Fifteen years ago Dr Chris Leatt witnessed the death of a fellow motorcycle rider a few weeks after his four-year-old son, Matthew, got on a bike and fell in love with the sport. “Alan Selby had fallen at the top of a hill and I travelled up with the paramedic to assist,” says Leatt from his home... 

Danish valves producer boosts local production with new factory

By: Simon Sonnekus     24th June 2016 Danish valves producer AVK Valves, which acquired local valves company Premier Valves in 2014, is nearing completion of a brand new valve manufacturing facility located in Alrode in Gauteng. The R100-million investment includes a 1 200 m2 training facility, 4 500 m2 office area and 2 000 m2... 

Graphite mine seeking $5.9m for plant upgrades, mechanisation and exploration

By: Oscar Nkala     24th June 2016 Zimbabwe's sole graphite mine is seeking joint venture partners or capital lenders willing to $5.9-million to fund plant upgrades and the purchase of equipment to start underground mining, as well as exploration projects to increase the operation's resource base.   Lynx Graphite board member... 

Serious stresses remain at local level, but will they affect the elections?

By: Keith Campbell     24th June 2016 As is no doubt by now well known, the Institute for Security Studies recently reported that its violence monitoring project had identified 2 880 public protests in this country between 2013 and 2015, of which 53% had been violent. These protests are often, if not nearly always, described as... 

South Africa’s R&D spend falls short of Brics counterparts

By: Mia Breytenbach     24th June 2016 South Africa spends a relatively low proportion of its gross domestic product (GDP) on research and development (R&D), the National Advisory Council on Innovation (Naci) revealed in its yearly South African Science, Technology and Innovation (STI) Indicators report. “South Africa’s general... 

Analyst urges caution as lithium excites and pitfalls multiply

By: Simon Rees     23rd June 2016 Lithium’s prospects are bright as demand from the battery sector is surging and observers believe it will only get better as more electric vehicles (EV) are produced and new energy storage solutions arise, such as Tesla’s Powerwall technology. Indeed, prices had marched higher, while... 

Copper hits seven-week peak on optimism Britain will stay in EU

By: Reuters     23rd June 2016 Copper prices rose to their highest in seven weeks on Thursday as opinion polls indicating that Britons favour staying in the European Union boosted sentiment that was also reinforced by a weaker dollar. Benchmark copper on the London Metal Exchange (LME) gained 1.6% to $4 774/t by 15:00 GMT. It... 

Austrian chancellor says need fair competition for steel exports

By: Reuters     23rd June 2016 Austrian Chancellor Christian Kern said he had agreed in talks with Germany's Angela Merkel on Thursday that a level playing field was needed for steel exports and that the two had discussed ways of tackling 'dumping' from China. "We discussed how to deal with steel exports given dumping... 

Fastener Fair India 2016: New Delhi edition hits the heights, ending with positive results

     23rd June 2016 The fourth edition of Fastener Fair India took place in the country’s capital city, New Delhi, for the first time from 19-20 May 2016. The exhibition attracted 2,651 Indian and international visitors and 151 exhibiting companies were present at the two-day event. The majority of exhibitors were... 

South Africa seen as attractive market amid surging global solar PV deployment

By: Terence Creamer     23rd June 2016 A new study assessing the future role of solar photovoltaics (PV) in the global electricity system suggests that the technology’s installed base could grow to between 1 760 GW and 2 500 GW by 2030 and identifies South Africa as among the most attractive markets for deployment. Solar PV capacity... 

Copper is just a bystander in commodities’ best start since 2008

By: Bloomberg     23rd June 2016 The best start to a year for commodities since 2008 is leaving copper in the dust. The metal is one of the weakest of the 22 raw materials in the Bloomberg Commodity Index of returns this year and the worst of the major metals. 

New Philippine Minister says openpit mining is 'madness'

By: Reuters     23rd June 2016 The incoming Minister in charge of Philippine mining has slammed the use of openpits to extract minerals, describing it as "madness" even to consider the method in the resource-rich country because of the environmental impact. The stance by Regina Lopez, an environmentalist who on Tuesday... 

Lenders turn away BHP port debt plan, wary of coal

By: Reuters     23rd June 2016 Australian mining giant BHP Billiton pulled a $500-million debt refinancing plan at one of Australia's biggest coal export terminals after banks were reluctant to lend to the sector, said three sources with knowledge of the process. The decision earlier this month sets back efforts to simplify... 

Dubai’s DMCC and China’s Zhongwei Sign MoU to Boost Trade along the ‘One Belt One Road’

     23rd June 2016 DMCC, the Government authority on trade, enterprise and commodities in Dubai, today announced the signing of a Memorandum of Understanding (MoU) with Zhongwei Ningxia Municipal People’s Government in China.   The purpose of the memorandum is to explore new collaboration, directives and... 

Telstra buys into mining technology sector

By: Reuters     23rd June 2016 Australia's No. 1 telecommunications firm Telstra has bought a mining technology company for an undisclosed sum, looking to tap the resource sector's appetite for cost-cutting in the face of slumping commodity prices. Markets for everything from oil to iron ore have collapsed from record highs a... 

Balancing exploration and project development key for Fission at PLS

By: Henry Lazenby     22nd June 2016 Exploration superstar Fission Uranium is gearing up for a C$13.3-million summer campaign at its flagship Patterson Lake South (PLS) project in the relatively underexplored Western Athabasca basin, in northern Saskatchewan, and is looking to balance its exploration activities with the objective of... 

EU hints at new sanctions on China over steel

By: Reuters     22nd June 2016 China's failure to curb its steel output could prompt the European Union to consider new trade sanctions against Beijing, the European Commission said on Wednesday, joining U.S. calls for over-capacity to be dealt with swiftly. By far the world's top steel producer, China's annual steel output is... 

China's Minmetals signs $3bn copper purchase agreement with Poland's KGHM

By: Reuters     22nd June 2016 State-owned metals trader China Minmetals Corp has agreed to buy copper from Poland's KGHM with a total contract value of $3 billion, the Chinese firm said in a posting on its website on Tuesday. The company did not disclose the volume of the contract or how long it would run. 

Weak economy takes toll on container imports and exports

By: Irma Venter     22nd June 2016 The economic slowdown in China, declining demand for mining commodities, dwindling consumer spending power and the persistent drought in Southern Africa have all negatively impacted shipping container trade in South Africa in the first quarter of the year, with import and export markets declining... 

ISS recommends shareholders vote for incumbent Eastplats board

By: Henry Lazenby     22nd June 2016 Eastern Platinum (Eastplats) has reported that independent proxy advisory firm Institutional Shareholder Services (ISS) had recommended that shareholders vote to keep the incumbent Eastplats board, amid a heated proxy contest. Hong Kong-based company Ka An Development, which had acquired a 13.79%... 

FDI into South Africa fell to ten-year low in 2015, Unctad shows 

By: Terence Creamer     21st June 2016 Foreign direct investment (FDI) inflows to South Africa slumped to a ten-year low of only $1.8-billion in 2015, a 69% decline, the latest World Investment Report (WIR16) shows. Inward FDI into Africa’s most developed economy was recorded by the United Nations Conference on Trade and Development... 

Global steel production falls 0.1% y/y in May

By: Anine Kilian     21st June 2016 Global steel production, as reported by the 66 member countries to the World Steel Association (worldsteel) fell by 0.1% year-on-year to 139-million tonnes in May. China produced 70.5-million tonnes of steel in May, a 1.8% increase compared with that produced in May 2015. 

South Africa makes most use of Agoa, but still only a fraction of the tariffs

By: Natasha Odendaal     21st June 2016 While South Africa has seemingly made the most use of the duty-free trade benefits with the US under the African Growth and Opportunity Act (Agoa) since inception, the nonreciprocal deal was, for the most part, heavily underused across the continent. While the 15-year-old Act had surged into the... 

Hapman Partners With Eunori Limited As The Official Manufacturer’s Rep Agency For China

     21st June 2016 Hapman, a global manufacturer of conveyors and bulk material handling equipment serving industries ranging from chemical, and food, to nutraceutical, minerals processing, wastewater, and power generation has partnered with Eunori Limited located Beijing, China to exclusively handle and support... 

BHP flags ‘another 10 years’ as iron-ore adjusts after boom

By: Bloomberg     21st June 2016 The iron-ore market will take longer to balance out than other commodities as excess supply may take years to be absorbed after a boom, according to BHP Billiton CEO Andrew Mackenzie, who flagged his company’s low production costs as a lure for hedge-fund investors. “There are some commodities,... 

'Brics bank' says to issue bonds in members' local currencies

By: Reuters     21st June 2016 he New Development Bank (NDB), an infrastructure-focused lender established by the Brics emerging economies, plans to issue debt in the local currencies of its five member countries, the bank's president said. Known as the Brics bank, the NDB is seen by its members as an alternative to the World... 

Rio Tinto iron-ore mine still offline after fatality

By: Reuters     21st June 2016 Operations remain suspended at the Channar iron-ore mine in Australia following a fatality late on Sunday, with the slack in production being picked up by other mines, majority owner Rio Tinto said on Tuesday. The fatality involved a 32-year-old man who was working on a drill rig at the time, a... 

BHP Billiton coal operations cash positive, targets another $600m in savings

By: Mariaan Webb     21st June 2016 Diversified mining group BHP Billiton is looking for $600-million in new savings from its coal business, which has already cut costs by $3-billion since 2012, the group reported on Tuesday, when it also increased its metallurgical coal production guidance for the 2016 financial year. BHP... 

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