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Barclays sued by fund for $850m for copper market abuse

By: Bloomberg     20th October 2017 Red Kite Management, the world’s largest metals hedge fund, is suing Barclays Plc for alleged market abuse in the copper market that it claims cost the firm at least $850-million between 2010 and 2013. The case pits a $2-billion hedge fund against a bank that has been hit by a number of scandals... 

Bauma CONEXPO AFRICA: numerous industry leaders on board

By: Creamer Media Reporter      20th October 2017 The economic comeback of Sub-Sahara and positive market opportunities in South Africa are reflected in the number of companies that have already signed up for the upcoming bauma CONEXPO AFRICA. The third international trade fair for construction machinery, building material machines, mining... 

Alumina shortages to increase as Chinese crackdown bites

By: Reuters     20th October 2017 Shortages of alumina, the raw material for producing aluminium, may become more severe in the coming months as an environmental crackdown in China is due to shut capacity, forcing smelters to scramble for supplies and pushing up prices. Alumina prices have already shot up 73% since May and... 

New era of disruption

By: Saliem Fakir     20th October 2017 Perhaps the recent multiple attacks of extreme weather – hurricanes Harvey, Irma and Maria – do not only tell us that fierce weather is the new normal, but changes in weather, together with other global shifts and crises, are forcing us to acknowledge that we are moving into an era of greater... 

Hydraulics company expands Middle Eastern presence

     20th October 2017 UK-based hydraulic tools designer, manufacturer and supplier Hi-Force has opened a new office in the Khalidia area of Dammam, Saudi Arabia. According to a statement released by Hi-Force last month, the new facility will stock a range of Hi-Force products that provides the market with the fastest... 

Lessons from China’s solar surge

By: Terence Creamer     20th October 2017 Last year, when Eskom illegally put the brakes on the country’s hitherto successful renewables roll-out, new solar photovoltaic (PV) capacity around the world grew by 50%, reaching over 74 GW. The International Energy Agency’s (IEA’s) ‘Renewables 2017’ report indicates that the record year for... 

BAIC implementing catch-up strategy to meet 2018 Coega deadline

By: Dylan Slater     20th October 2017 China-based vehicle manufacturer Beijing Automotive Group (BAIC), is accelerating some of its construction plans for its vehicle manufacturing plant, currently under construction at the Port Elizabeth-based Coega Industrial Development Zone, to catch up on delays incurred owing to primarily... 

Solar PV beats other forms of power in 2016

By: Bloomberg     20th October 2017 Solar power grew faster than any other source of fuel for the first time in 2016, the International Energy Agency (IEA) said in a report suggesting the technology will dominate renewables in the years ahead. The institution established after the first major oil crisis in 1973 said 165 gigawatts... 

Mambilla hydroelectric power plant, Nigeria

By: Sheila Barradas     20th October 2017 Nigeria's Federal Executive Council has approved the construction of the project. 

Jiangxi Special Electric plans to take stake in Australian lithium miner

By: Reuters     19th October 2017 China's Jiangxi Special Electric Motor said on Thursday it planned to buy a stake in an Australian lithium mining and exploration company, the latest electric vehicle company to scoop up supplies of raw materials. Jiangxi, which makes electric vehicles and lithium batteries, said its German... 

China's Jiangxi Copper has plans for M&A in Africa – chairperson

By: Reuters     19th October 2017 State-owned China metals firm Jiangxi Copper plans to make an acquisition in mineral-rich Africa, president and chairperson Long Ziping said, as the country's top integrated copper producer aims to step up overseas expansion. Long, appointed chairperson last month, didn't identify potential... 

Angola is not the next Venezuela, state oil firm says as it cuts debt

By: Reuters     19th October 2017 Angola is not the next Venezuela, the head of State oil firm Sonangol said on Wednesday while pledging to further cut debt, even if both oil-rich nations have relied heavily on loans from China. Venezuela, the Latin American oil behemoth, has found itself struggling to repay debts to China and... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

Chile's Cochilco boosts copper forecast to near $3/lb in 2018

By: Reuters     19th October 2017 Chile State copper commission Cochilco forecasted on Wednesday an average global copper price of $2.95/lb in 2018, a sharp upward revision from its mid-year estimate of $2.68, due to greater demand in China, a key market. For 2017, it predicted an average copper price of $2.77/lb, markedly higher... 

South32 bolsters net cash to $1.7bn, reports solid Q1 results

By: Esmarie Swanepoel     19th October 2017 Diversified miner South32 on Thursday reported its financial and operational results for the first quarter of the 2018 financial year, telling shareholders that stronger commodity markets had delivered a $33-million increase in its net cash position. “Our key commodity markets continue to... 

Cu-River unveils A$800m Cairn Hill magnetite expansion

By: Esmarie Swanepoel     19th October 2017 Privately held Cu-River Mining Australia has announced an A$800-million expansion of the Cairn Hill magnetite mine, in South Australia. The investment would triple current magnetite production initially to three-million tonnes a year, and then up to 15-million tonnes a year by 2021, creating up... 

Iron-ore, coking coal skid again in China as demand concerns emerge

By: Reuters     19th October 2017 Prices of steelmaking commodities iron ore and coking coal fell sharply on Thursday, pressured by worries over slower demand as Chinese mills curb output in line with Beijing's campaign to fight smog. Iron ore futures slid more than 4% and coking coal dropped more than 5%. Rebar steel futures... 

China's CEFC eyes big league with Rosneft oil offtake deal

By: Reuters     18th October 2017 As part of its recent $9.1-billion investment in Russian oil giant Rosneft, little-known CEFC China Energy will have access to up to 260 000 bbl/d of Russian oil - giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol. For China, the world's top crude... 

China factories grapple with soaring prices as pollution crackdown bites

By: Reuters     17th October 2017 Chinese exporters at the country's biggest trade fair are more optimistic about global demand now than six months ago but Beijing's crackdown on pollution is ramping up costs and product prices, hurting smaller factories and foreign buyers. At the Canton Fair where some 25 000 manufacturers are... 

Shanghai rebar extends rally to one-month high, lifts iron-ore

By: Reuters     16th October 2017 Chinese rebar steel futures advanced for a third straight day to hit a one-month peak on Monday, supported by output cuts in the world's top producer as part of the government's battle against smog. The gains in steel prices lifted iron-ore, although traders were not convinced the increase in... 

Prairie Mining says near deal with Chinese banks to fund Polish mine

By: Reuters     16th October 2017 London-listed Prairie Mining is in advanced talks with Chinese lenders to finance its coking coal mine project in Poland, its CEO said. Prairie, which is also listed in Australia, is developing the Jan Karski mine in south eastern Poland and bought the Debiensko mine last year with a view to... 

Global steel demand growth to slow in 2018 after strong 2017 – worldsteel

By: Reuters     16th October 2017 Global steel demand growth is expected to slow to 1.6% next year following strong growth in 2017 that was driven by top consumer China, the World Steel Association (worldsteel) said on Monday. "The risks to the global economy ... have to some extent abated. We see the best balance of risks since... 

Triton finds buyers for all Ancuabe product

By: Esmarie Swanepoel     16th October 2017 Graphite developer Triton Minerals has conditionally secured offtake agreements over the full production from its planned Ancuabe project, in Mozambique. The ASX-listed company on Monday reported that it had signed an offtake, marketing and technical collaboration memorandum of understanding... 

China can solve renewable energy waste problem by 2020 - NEA

By: Reuters     16th October 2017 China expects to solve the problem of renewable energy waste by 2020, Liang Zhipeng, deputy director of the new energy and renewable energy department of the National Energy Administration (NEA) said in a presentation at a conference on Monday. He also said the agency expects the wind sector to... 

US demands regional steel, aluminum in Nafta auto rules

By: Reuters     16th October 2017 The Trump administration is demanding the use of North American-made steel, aluminum, copper and plastic resins in cars and trucks sold under North American Free Trade Agreement rules, as it seeks to give US industry a boost. People briefed on the matter said US negotiators issued the proposal,... 

Zinc price spike sparks flurry of miner listings

By: Reuters     13th October 2017 A doubling in zinc prices since late 2015 and strong outlook for the commodity has fueled a flurry of zinc miner listings on the Toronto Stock Exchange as companies cash in on investor demand for producers of the metal. Brazil-based Nexa Resources, a top five global zinc producer, is seeking to... 

As race for energy metals heats up, nickel expected to benefit most from EV revolution

By: Henry Lazenby     13th October 2017 Nickel prices stand to gain most from the advent of electric vehicles (EVs), Bank of America Merrill Lynch (BofAML) said on Friday in its latest ‘Global Metals Weekly’ report. According to the research team, despite China remaining an important driver of market demand, following on from being the... 

Iron-ore rallies as China imports bust 100Mt level

By: Bloomberg     13th October 2017 Iron-ore imports by China surged above 100-million metric tons to a record, smashing the previous high set in 2015, as the country’s concerted push to clean up the environment stoked demand for higher-grade material from overseas while hurting local mine supply. Prices rallied. 

Africa urged to set the trends in digital innovation

By: Kim Cloete     13th October 2017 African countries have the potential to set trends rather than follow them in a world dominated by hurtling changes in information technology (IT), delegates attending the Thomson Reuters Africa Summit have heard. Digital and technology transfer expert Lee Naik said over 300-million customers... 

Technologies that cut manufacturing costs

     13th October 2017 The cost of production remains the biggest pressure point for local manufacturers, but there are technology-driven solutions to reduce costs, contends Dereshin Pillay Local manufacturing firms continue to face blustering headwinds – from heightened global competition from the likes of China and... 

Recycling sustainability requires ongoing investment

By: Dylan Slater     13th October 2017 For recycling in South Africa to be sustainable in the long-term long-term investment in the country’s recycling capacity is required, says Mpact Recycling MD John Hunt.  

Powertech Switchgear land a big deal with Eskom

     13th October 2017 The tender for Eskom’s distribution and transmission MV AIS switchgear was issued in 2015 and Powertech Switchgear seized the opportunity to submit on tender obligation. The tender was awarded in March 2017 and Powertech Switchgear managed to gain five years of supply. Eskom requirement is to... 

R20bn Swazi Rail Link being prepared for presentation to investors before year-end 

By: Terence Creamer     12th October 2017 An expression of interest (EoI) for the R20-billion crossborder Swazi Rail Link infrastructure project between South Africa and Swaziland will be released to potential investors before the end of 2017, South Africa’s Transnet Freight Rail (TFR) and Swaziland Rail confirmed on Thursday. The 150 km... 

China gobbles Amazon rainforest ore to clean polluted skies

By: Bloomberg     12th October 2017 A bid by China to clean up pollution in its biggest cities and industrial towns is fueling a push to mine resource riches on the other side of the globe in the Amazon rainforest -- one of the most environmentally sensitive areas on Earth. Smog-laden skies across the world’s most-populated country... 

Alphamin's Bisie mine on track for 2019 production

By: Natasha Odendaal     12th October 2017 Despite facing significant social, political and geographical challenges, emerging miner Alphamin Resources is on track to deliver on the first large commercial tin mine in the eastern Democratic Republic of Congo (DRC). Against a backdrop of historical political upheaval, rent-seeking, an... 

Alrosa to auction large rough diamonds in Vladivostok

By: Creamer Media Reporter      12th October 2017 Russian diamond major Alrosa said on Wednesday that it would put up for sale 1 170 ct of large rough diamonds at an auction in Vladivostok later this month. The diamonds all weigh more than 10.8 ct each and would be sold in 72 gem-quality lots. The largest diamond weighs 47.55 ct. 

China says EU, US trade moves lack awareness of WTO rules

By: Reuters     12th October 2017 China's commerce ministry said on Thursday that the European Union's new trade rules against Chinese imports lacked awareness of World Trade Organization (WTO) rules, urging the EU to abide by those requirements. Ministry of Commerce spokesperson Gao Feng made the remarks at a regular briefing in... 

MMG seeking M&A in copper, zinc, other commodities - CEO

By: Reuters     12th October 2017 MMG Ltd, the international mining unit of state-owned China Minmetals Corporation has become China's preferred developer of overseas projects and is looking at acquisitions beyond its core strengths of copper and zinc, MMG's chief executive said. As well as actively looking for copper and zinc... 

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