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South Africa to host 11th International Heavy Haul Conference

By: Anine Kilian     25th July 2016 South Africa has won the bid to host the Eleventh International Heavy Haul Association (IHHA) conference, which will be held in Cape Town from September 2 to 6, 2017 at the Cape Town International Convention Centre. The IHHA has partnered with State-owned rail utility Transnet and the South... 

Itac seeks input on steel duties after HRC probe finds imports causing ‘serious injury’

By: Terence Creamer     25th July 2016 The International Trade Administration Commission of South Africa (Itac) has concluded that the domestic steel industry is “suffering serious injury” as a result of a surge of imports of hot-rolled coil (HRC). However, it has decided not to impose provisional measures until it has received... 

Chamber disputes veracity of Unctad underinvoicing claim

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

Afreximbank and Export-Import Bank of China sign billion dollar industrialisation agreement

By: African News Agency      25th July 2016 The African Export-Import Bank (Afreximbank) and the Export-Import Bank of China have signed a cooperation agreement to create a one billion dollar China-Africa Investment and Industrialisation Programme to facilitate the construction and creation of industrial parks and special economic zones on... 

G20 officials vow to tackle steel, industrial overcapacity

By: Reuters     25th July 2016 The world's top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday. In a draft statement obtained by Reuters, the G20 finance ministers and central bank... 

AMSA seeks more protection as it warns of bigger H1 loss

By: Terence Creamer     22nd July 2016 Steel producer ArcelorMittal South Africa (AMSA) warned on Friday that its loss for the six months to June 30 could be up to 64% higher than the loss of 28c a share reported for the same period in 2015. However, the interim loss of between 42c and 46c a share represented a significant improvement... 

Lincoln keen to complete Kookaburra Gully PEPR by year-end

By: Megan van Wyngaardt     22nd July 2016 ASX-listed Lincoln Minerals is hoping to emerge next year as a supplier of graphite to global markets, with its flagship Kookaburra Gully graphite project, on South Australia’s Eyre Peninsula steaming ahead. The company recently received a mineral lease for the mine from the South Australian... 

WTO head says China accession deal must be fully applied in market status debate

By: Reuters     22nd July 2016 China's World Trade Organization accession deal must be fully applied, the head of the trade governing body said on Friday, after the European Commission said it would adopt a new method to assess whether China's exports are priced unfairly low. The European Union has been debating whether to... 

Anglo American coal bidders said in talks for acquisition loans

By: Bloomberg     22nd July 2016 Bidders for Anglo American’s Australian metallurgical coal assets, including Coronado Coal and AMCI Capital, are in talks with banks for acquisition financing, people with knowledge of the matter said. Coronado and AMCI are competing for Anglo American’s Moranbah and Grosvenor mines with BHP... 

Airbus predicts commercial aircraft numbers will double by 2035

By: Keith Campbell     22nd July 2016 European major airliner manufacturer Airbus has forecast, in its latest Global Market Forecast, that the world will require 33 000 new commercial aircraft, worth $5.2-trillion, over the next 20 years. The forecast was released by the company at the recent Farnborough International Airshow. This... 

Manufacturers to exploit emerging automotive markets

By: Nadine James     22nd July 2016 Original-equipment manufacturers (OEMs) are aiming to expand their client bases and establish automotive manufacturing facilities in emerging market economies, owing to the current saturation in European and US automotive markets, says auditing and consulting firm KPMG. KPMG industrial and... 

Natural gas market to boom, but comes with volatility

By: Megan van Wyngaardt     21st July 2016 As liquefied natural gas (LNG) plays an increasingly significant role in the transition to a low-carbon world, the market will become more volatile and risky, believes audit consultancy PwC’s strategy consulting business Strategy&. In a new analysis titled ‘Navigating the transformation of the... 

Brics looks back at first year of NDB

By: Megan van Wyngaardt     21st July 2016 A South African delegation, led by Finance Minister Pravin Gordhan, was party to discussions on the New Development Bank’s (NDB) five-year strategy at its first annual meeting in Shanghai, China last week. The Brazil, Russia, India, China and South Africa-, or Brics-, led institution used the... 

Vibrating equipment supplier commissions moulding system, begins local manufacture 

     21st July 2016 Screening and vibrating equipment supplier Aury Africa hosted a media launch and factory tour to celebrate the commissioning of its newly installed gravity-pour polyurethane system. which allows the company to begin manufacturing its own polyurethane panels, liners and wedges. Nadine James tells... 

End of Australia’s iron-ore supply rush seen aiding prices

By: Bloomberg     21st July 2016 The largest iron-ore producers in Australia, the world’s No. 1 exporter, are raising supply at the slowest pace in years, drawing a line under more than a decade of expansions and lending potential support to prices that are rebounding this year. BHP Billiton, the third-largest shipper, said... 

Wacker Neuson plans to open new factory in China

     21st July 2016 The Wacker Neuson Group is planning to open a new plant near Shanghai in China. Initially compact excavators will be produced for the local market, further products will follow. It is planned that the first compact excavator should roll off the production line at the beginning of 2018. Wacker... 

SAB takeover getting more expensive by the day

By: News24Wire      21st July 2016 The takeover of SABMiller by Anheuser-Busch (AB) InBev is looking increasingly expensive, a merger and acquisition expert said on Thursday. Warwick Business School Professor John Colley’s pessimism comes as “various competition authorities exact a heavy price to approve the deal”, he said on... 

Tanzania gets $7.6bn loan from China's Exim Bank for railway

By: Reuters     21st July 2016 Tanzania has secured a $7.6-billion loan from China's Export-Import Bank (Exim) to build a railway line that will link it to its neighbours, President John Magufuli's office said on Wednesday. Tanzania wants to profit from its long coastline and upgrade its rickety railways and roads to serve... 

Casualty of Australia's iron-ore war seeks second chance in lithium

By: Reuters     21st July 2016 Ken Brinsden rode Australia's iron-ore boom up and then down as head of Atlas Iron. Now he is chasing a new treasure, one fuelled by a metal powerful enough to propel electric cars to speeds of 250 km per hour: lithium His company, Pilbara Minerals, plans to be mining the silvery-white metal by... 

Lundin granted extension to decide on Tenke Fungurume buyout

By: Creamer Media Reporter      20th July 2016 Canadian base metals company Lundin Mining has been granted an extension to September 15 to decide if it wants to make an offer to buy Freeport McMoRan’s stake in TF Holdings, which owns 80% of the Tenke Fungurume copper mine in the Democratic Republic of Congo. Freeport holds a 70% stake in TF... 

US expands its WTO challenge to China export limits to chromium, other metals

By: Reuters     19th July 2016 The US has expanded its challenge at the World Trade Organisation to China's export restraints on raw materials to include export duties on chromium, as well as its export quotas on antimony, indium, magnesia, talc and tin, the US Trade Representative said on Tuesday. Those raw materials "are... 

EU launches WTO challenge to Chinese raw material duties

By: Reuters     19th July 2016 The European Union launched a third legal challenge on Tuesday to restrictions on Chinese exports of 11 key metals and materials, joining the United States in suing Beijing for unfairly favouring Chinese industry. The bloc is seeking formal consultations with China, the first step in World Trade... 

Zinc climbs to highest in more than a year on shortage worries

By: Bloomberg     19th July 2016 Zinc extended its advance to the highest level in more than a year on concerns over a looming supply deficit. The metal used to galvanize steel rose as much as 1.3% to $2 246 a metric ton on the London Metal Exchange, the highest since May last year, and traded at $2 241 by 3:03 p.m. Shanghai... 

Advisian equipped for Special Economic Zones

     19th July 2016 Advisian, WorleyParsons’ advisory business, is gearing its comprehensive suite of advisory and technical services in preparation for the roll-out of Africa’s Special Economic Zones programme and associated enabling infrastructure and zone designation requirements. According to South Africa’s... 

Alabama inks nondisclosure accords with US Department of Defence equipment makers

By: Henry Lazenby     18th July 2016 Project developer Alabama Graphite (AGC) on Monday revealed that it had signed six nondisclosure agreements (NDAs) with manufacturers of equipment for the US Department of Defence (DoD). The agreements were meant to spur discussions and the due diligence evaluation of samples of AGC’s US-sourced... 

Misinvoicing causing countries to lose up to 67% export earnings – UN

By: Anine Kilian     18th July 2016 Some commodity-dependent developing countries are losing as much as 67% of their exports, worth billions of dollars, to trade misinvoicing, according to a new study by the United Nations Conference on Trade and Development (Unctad). Trade misinvoicing is thought to be one of the largest drivers... 

E-commerce a $22tn market of opportunities – Unctad

By: Natasha Odendaal     18th July 2016 The United Nations Conference on Trade and Development (Unctad) has unveiled a new electronic commerce (e-commerce) initiative to assist emerging economies in leveraging the rapidly growing $22.1-trillion market. The global e-commerce market has increased 38% since 2013, with business-to-business... 

The Brexit fear: Was it overdone?

     18th July 2016 Various global and domestic real economic activity data gave financial markets last week a welcome boost. On the heal of the favourable USA job data the previous Friday, better than expected company earnings in the USA, and good growth prospects for China turned market sentiment to the good. The... 

Magnetite inks letter of intent with Chinese steelmaker

By: Samantha Herbst     18th July 2016 ASX-listed Magnetite Mines and Lodestone Equities are collaborating with Shandong Iron and Steel Group, to develop the magnetite resources of South Australia’s Mawson iron province, following a non-binding letter of intent (LoI) signed on Friday. Shandong currently produces 22-million tonnes a... 

Congo's small miners fill hole left by downsizing multinationals

By: Reuters     18th July 2016 His toes bursting out of sneakers several sizes too small, a miner hacks with a pick at the copper and cobalt-laced stone in southeastern Congo, slowly filling a sack that could earn him anywhere from a handful to a few hundred dollars. The 42-year-old father of five, who only gave his first... 

Nickel rally to lose strength by year-end; aluminium settles into lower-for-longer pattern

By: Henry Lazenby     15th July 2016 New forecasts by BMI predict nickel prices will rise in the short term, however, the rally will taper off by year-end, as heightened Chinese refined nickel imports and ore supply disruptions from the Philippines buoy prices. However, the Fitch group research firm says positive long-term... 

Davies says Brexit risk for South Africa does not lie in trade arena 

By: Terence Creamer     15th July 2016 South Africa’s Trade and Industry Minister Dr Rob Davies has formally written a letter to the British High Commissioner seeking a meeting regarding the implications of the recent Brexit vote on South Africa’s trade and economic relations with the UK. However, he says he does not anticipate any... 

Without the right transformation the future will remain unbuilt v2

     15th July 2016 South Africa. Africa must stop believing that it cannot think for itself in the construction industry and grab the opportunities on the continent, says the head of one of the biggest construction companies south of the Sahara. “The future is unbuilt without the right transformation. If mind-sets... 

Global nickel market deficit widens to over 11 000 t in May – INSG

By: Reuters     15th July 2016 The global nickel market deficit widened to 11 200 t in May, as low prices weighed on refined output from top producer China while demand slowly improved, data from the International Nickel Study Group showed on Friday. But strong yearly production from mines in Indonesia and a revival in output... 

Coal India sees rising import costs helping to trim stockpiles

By: Bloomberg     15th July 2016 Coal India, the world’s biggest producer of the fuel, sees rising international prices helping it shrink swollen stockpiles and gain more buyers as domestic customers shun imports in favor of local supplies. Increasing Australian and South African prices have made imports more expensive, which... 

US, China clash over market economy status at WTO

By: Reuters     15th July 2016 The US warned China on Thursday that it had not done enough to qualify for market economy status, especially in steel and aluminium, sowing the seeds for a trade battle between Washington and Beijing at the end of 2016. Upon China's admission to the WTO in 2001, it was told by other members that... 

Stormy seas hit Chile copper exports, could buoy prices

By: Reuters     15th July 2016 Choppy seas off the coast of Chile caused widespread delays to copper shipments from the world's top producer in the second half of June, potentially supporting prices in a market grappling with oversupply. Cargoes were stranded at ports as stormy weather prevented ships from loading, said miners... 

Chinese firms continue to increase African investment footprint

By: Irma Venter     15th July 2016 Despite talk that the Chinese economy is in trouble and that China’s investment in Africa has subsided, investment by Chinese companies in Africa is, in fact, on the rise. China has indeed seen its economy slow down from 9% growth to 6% or 7%, but it is “still robust by any account”, says Goldman... 

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