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Venezuela says signs $5.5bn mining deals, companies include Barrick

By: Reuters     26th August 2016 President Nicolas Maduro said on Friday that Venezuela had signed over $5.5-billion in mining deals with companies including Canada's Barrick Gold and China's Shandong Gold. The deals are part of plan to ease the Opec nation's grave economic crisis that has caused food shortages and supermarket... 

AB InBev expects to cut 3% of jobs after SABMiller takeover

By: Reuters     26th August 2016 Anheuser-Busch (AB) InBev expects to cut some 3% of its combined workforce after it has acquired rival SABMiller, according to takeover documents published on Friday. That would be some 5 500 jobs, according to a source with information on the offer. 

Indo-Russia Summit expected to fast-track mining, hydrocarbon collaboration projects

By: Ajoy K Das     26th August 2016 The forthcoming yearly Indo-Russia Summit, in October, is expected to lay down the framework for scaling up bilateral engagements in the mining, energy and hydrocarbon sectors, wherein mega marquee investments have already been put on the anvil. While the bilateral agreements up for discussion... 

Vale says crown-jewel deal unlikely this year

By: Bloomberg     26th August 2016 Vale SA, the top iron-ore miner, is poised to complete coal and fertilizer sales this year, while a deal involving its most prized assets probably will take longer, according to its investor relations chief. The Rio de Janeiro-based company, which is grappling to reduce one of the industry’s... 

Amid low prices and weak demand, steel protectionism goes global

By: Bloomberg     26th August 2016 From the US to India, regulators around the world are pushing harder than ever to shield local steel industries from foreign competition. Nations imposed 85 new duties and other taxes on steel imports in the first half, according to the Russian Steel Association, which counted preliminary and... 

Aviation bureau approves maintenance service provider

     26th August 2016 Aerospace engineering and component services provider Able Aerospace Services, a subsidiary of Textron Aviation, earned certification by civil aviation authority the Japan Civil Aviation Bureau (JCAB) as an Approved Maintenance Organization (AMO) in April this year.  

Francophone Africa seen as untapped market for South African firms

By: Mia Breytenbach     26th August 2016 Despite significant opportunities across a range of sectors, the Francophone African markets remain relatively untapped from South Africa, speakers stated at the ‘Doing Business in Francophone Africa’ business forum. Speaking at the forum in Johannesburg at the end of June, Africa House strategy... 

SA slides down global manufacturing competitiveness ranking

By: Mia Breytenbach     26th August 2016 Despite being regarded as the most competitive manufacturing country in Africa, South Africa is losing momentum when compared with other countries, particularly China. South Africa dropped three places – to twenty-seventh position – on the global ranking of the world’s most competitive countries,... 

Supply of LNG increasing despite economic downturn

By: Kimberley Smuts     26th August 2016 Although there has been a global slowdown in economic activity, global liquefied natural gas (LNG) supply has increased, owing to a surge in supply projects approved before the drop in the price of gas in 2014, says KPMG energy economist Dr Requier Wait. “On the demand side, gas-fired power... 

Anglo Pacific reports strong interim results as royalty income rises

By: Henry Lazenby     25th August 2016 Royalty streaming firm Anglo Pacific Group has reported strong results for the first half of 2016, more than doubling free cash flow and narrowing its net loss, which was helped by a weaker pound and higher royalty income. For the interim period ended June 30, the London, UK-based firm reported a... 

Deteriorating global supply chain market faces increasing obtacles

By: Natasha Odendaal     25th August 2016 The latest data from the Chartered Institute of Procurement and Supply (CIPS), released on Thursday, reveals escalating operational risk, both globally and in sub-Saharan Africa, owing to the prolonged slump in global commodity prices and the slowdown in emerging markets. The CIPS risk index... 

Grindrod records R1.1bn loss, ready to develop Coega liquid-bulk terminal

By: Irma Venter     25th August 2016 A depressed commodities market continued to take its toll on shipping and logistics group Grindrod in the six months ended June 30. Grindrod on Thursday reported a drop in revenue to R11-billion in its management income statement – which included the company’s share in joint ventures – compared... 

Iron-ore at risk as China veteran warns steel output to drop

By: Bloomberg     25th August 2016 Steel production in China, the world’s biggest supplier, will probably contract this year and shrink further in 2017 as local demand slows, hurting the outlook for iron-ore, according to Li Xinchuang, a vicechairperson at the China Iron & Steel Association. “There will be significant declines in... 

Woolworths Holdings Ltd Annual Results

     25th August 2016 Woolworths Holdings Ltd today announced results for the year ended 28 June 2016, including David Jones full year results for the first time. Group sales (including concession sales) increased 16.4% to R72.1bn despite challenging trading conditions in both South Africa and Australasia. Adjusted... 

Free-falling Mongolia won’t be saved by commodity revival

By: Bloomberg     25th August 2016 The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer. Yet even though the commodity market finally has a pulse again... 

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Australian silver outlook strong as global supply falls – Investigator Resources

     24th August 2016 The outlook for Australian silver development and production has risen to its best in years with the owner of one of the country’s highest grade discoveries pointing to a 35% price increase in the commodity in just the past 12 months. Addressing a mining forum in Brisbane on Wednesday,... 

Think zinc: miners bet big on revival in key base metal market

By: Reuters     24th August 2016 Resource companies are racing to dig zinc mines, betting that markets for the metal used to rust-proof steel and protect noses from sunburn have finally turned after a decade in the doldrums. A supply glut is evaporating as big zinc mines run dry, commodity analysts say, helping drive up prices... 

Govt, AMSA reach accord on steel price basket

By: Kim Cloete     23rd August 2016 Steel producer ArcelorMittal South Africa (AMSA) and government have agreed to remove import parity pricing with immediate effect in a bid to boost South Africa’s steel industry. The local price for flat steel products will be based on an import-weighted basket. 

Executives believe they can survive lower metals outlook – KPMG

By: Megan van Wyngaardt     23rd August 2016 Fewer than half of senior metals executives responding to KPMG International’s 2016 Global Metals & Mining Outlook survey voiced any level of confidence in the prospects for the global economy over the next two years. This was particularly concerning given the tight relationship between the... 

South Africa not surrendering its steel industry, says Davies

By: Kim Cloete     23rd August 2016 South Africa’s steel industry is facing some serious challenges, brought on by a global steel glut of 44-million tons a year, but it is vital for the country to do everything possible to maintain a sustainable, competitive steel industry as it is of strategic importance to the country, says Trade... 

MB star of the world's most important trade fairs this autumn

     23rd August 2016 As usual 2016 is confirmed to be very busy for MB Crusher that, after the great success of Bauma last April, will be involved until the very end of the year in the most important international trade fairs. Fairs always represent an important opportunity to meet new clients, make tangible and... 

Citigroup says this ‘hot commodity’ is destined to cool off soon

By: Bloomberg     23rd August 2016 Iron-ore, dubbed by Citigroup as one of the hot commodities of 2016, looks set to cool off. Prices may sag toward the end of the year and into 2017 as supply rises and steel demand fades, the bank said, adding to the list of banks that are calling time on an unexpected rally. The raw material... 

Eldorado diversifies exploration portfolio

By: Henry Lazenby     23rd August 2016 Canadian gold producer Eldorado Gold has added four new exploration properties located in Romania, Serbia and Brazil to its portfolio, the miner said on Monday. Eldorado VP of of exploration Peter Lewis said the company was excited by the addition of the projects, since they all included defined... 

Sanral provides R30m funding to Stellenbosch programme

By: Megan van Wyngaardt     22nd August 2016 The South African National Roads Agency Limited (Sanral) on Monday endowed Stellenbosch University with R30-million for its Sanral Chair in Pavement Engineering research fund. Established in 2001, the Sanral research chair is an academic programme committed to the development of human capital and... 

Glencore ‘vindicated’ on zinc supply cuts, Morgan Stanley says

By: Bloomberg     22nd August 2016 Glencore’s decision to cut zinc output to fight a rout in prices last year has been vindicated as the metal has rallied in 2016, according to Morgan Stanley, which held out the possibility that the commodity trader may order restarts. “It turns out, cutting/waiting was a good plan,” Morgan... 

We did it, you should too: Ore-ban talk gathers pace in Asia

By: Bloomberg     22nd August 2016 The Philippines should follow Indonesia’s lead and prohibit the export of raw metal ores, according to National Development Planning Minister Bambang Brodjonegoro, who said he was a big supporter of the curbs imposed by his country and results so far have been a success. The restrictions have... 

Fortescue profit jumps threefold to $985m

By: Mariaan Webb     22nd August 2016 Australian iron-ore miner Fortescue Metals posted a threefold increase in net profit for the year ended June 30, driven by a strong operational performance and an unwavering cost-reduction strategy. Fortescue, which has four mine sites in the Pilbara, increased net income to $984-million, a 212%... 

High-Performance Material Handling Technologies on Display at MINExpo 2016

     19th August 2016 A broad range of advanced technologies for safer and more productive bulk handling will be on display at MINExpo INTERNATIONAL® 2016, as Martin Engineering unveils new and improved component designs for conveyor belt cleaning, dust management, load containment, risk reduction and improved... 

Moody’s revises outlook for global base metals industry to stable

By: Anine Kilian     19th August 2016 Investor service and ratings agency Moody’s has changed its outlook for the global base metals industry to stable from negative. Its most recent report ‘Global Base Metals Industry: Prices Off Bottom But Upside Limited as Global Economy Faces Slow Recovery’ states that prices for aluminium,... 

A commodities rebound is accelerating right on China’s doorstep

By: Bloomberg     19th August 2016 China may be slowing, but a commodities rebound is under way and the world’s biggest miner knows where the next growth story is building – emerging economies in Southeast Asia. Combined gross domestic product in the ASEAN-5 nations – Indonesia, Thailand, Malaysia, the Philippines and Vietnam –... 

BAIC to build CKD auto plant in Coega industrial zone 

By: Terence Creamer     19th August 2016 The Coega Development Corporation (CDC) reports that it has signed a deal with the Beijing Automobile International Corporation (BAIC) for a new automotive investment worth R11-billion into the Eastern Cape industrial development zone (IDZ). The Chinese State-owned company plans to build a... 

Chile economy shrinks in second quarter from first as mining falls

By: Reuters     19th August 2016 Chile's gross domestic product shrunk by 0.4% in the second quarter of 2016 from the first quarter, as mining in the world's biggest copper exporter contracted, the central bank said on Thursday. The fall was the first contraction from one quarter to the next since early 2010, when Chile was hit... 

China’s Silk Road revival plan could touch 4.4m people

By: Bloomberg     19th August 2016 China's ambition to revive an ancient trading route stretching from Asia to Europe could leave an economic legacy bigger than the Marshall Plan or the European Union’s (EU’s) enlargement, according to a new analysis. Dubbed 'One Belt, One Road’, the plan to build rail, highways and ports will... 

Govt may target pension funds as next source of funding, says economist

By: Irma Venter     19th August 2016 The promises of politicians are always greater than the South African taxpayer’s capacity to deliver, says Efficient Group chief economist Dawie Roodt.   He says the current ANC/Cosatu/South African Communist Party tripartite government has become ideologically confused, scripting contradictory... 

New Schneider Electric variable-speed drives improve efficiency, security

By: Schalk Burger     19th August 2016 The research and development (R&D) of the latest generation of industrial equipment manufacturer Schneider Electric’s Altivar process variable-speed drives (VSDs) focused on smooth performance and efficiency, cybersecurity and connectivity to support automated industrial systems, says Schneider... 

Tussling over islands

By: Riaan de Lange     19th August 2016 One of my first memories when I first came to Pretoria many years ago is that of Fook Island. I recall that my cousin’s boyfriend stayed in a commune just off Atterbury road and, just up the road from the commune, at the corner of Mackenzie street and 20th street, was a house with extracts of the... 

Rising uptake of vanadium-based batteries bodes well for market as price turns a corner 

By: Henry Lazenby     18th August 2016 A more than 40% increase in the price of vanadium pentoxide (V2O5) since December lows is invigorating the industry, just as it is poised to see significant new demand for the steel-strengthening ingredient coming from the increasing adoption of vanadium-redox flow batteries (VRBs). The commodity... 

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