http://www.engineeringnews.co.za
R/€ = 14.55 Change: -0.10
R/$ = 13.59 Change: -0.04
Au 1208.13 $/oz Change: 4.51
Pt 977.00 $/oz Change: 2.50
 

Topic

Platinum price upside limited despite stronger structural demand in coming years

By: Henry Lazenby     20th January 2017 Analysts at Bank of America Merrill Lynch (BofAML) Global Research forecasts little upside for platinum despite strengthening structural demand, saying South African producers are putting more ounces on the market at a time when discipline is required. In a ‘Global Metals Weekly’ report published... 

Guinea President says Rio payment saga tied to internal feud

By: Bloomberg     20th January 2017 The President of Guinea is disputing public statements made by Rio Tinto Group regarding the firing of a senior executive for a $10.5-million payment made to the President’s friend Francois de Combret. President Alpha Conde said the firing of Alan Davies, who headed Rio’s $20-billion Simandou... 

South Africa’s mining sector at a crossroads, collaborative effort required

By: Ilan Solomons     20th January 2017 The global mining industry has been struggling since the 2008 international financial crisis set off a chain of events resulting in contracted growth in important markets, such as China, and recession in others, such as Europe, leading to severe declines in commodity prices. In South Africa, the... 

Lithium Americas reports $174m strategic investment by Ganfeng Lithium

By: Henry Lazenby     20th January 2017 Niche minerals company Lithium Americas has signed an investment agreement with China's Ganfeng Lithium for funding to advance the construction of the Cauchari-Olaroz lithium project, in Jujuy, Argentina. Ganfeng this week agreed to finance $174-million and the right to buy a fixed portion of... 

New CEO confirmed for MBSA as former chief heads for Beijing

By: Irma Venter     20th January 2017 German automaker Daimler has announced the appointment of Andreas Engling as the new CEO and manufacturing executive director of Mercedes-Benz South Africa (MBSA).Current CEO, Arno van der Merwe, will start a new chapter in his career as president and CEO of Beijing Benz Automotive (BBAC). Both... 

Roytec Global

By: Creamer Media Reporter      20th January 2017 South Africa-based liquid/solid and mineral separation equipment supplier Roytec Global is a leader in the supply of thickening, filtration and mineral floatation technologies for the mining industry. Roytec is passionate about service excellence and prides itself on living up to its promises.  

Industrial Explosives Market Is Expected to Reach $196,299 Million, Globally by 2022

     19th January 2017 Industrial Explosives Market by type (High Explosives, ANFO, Emulsions and Others), end-use industry (Metal Mining, Non-Metal Mining, Quarrying, Construction and Others) is projected to reach $15,888 million by 2022, growing at a CAGR of 6.7% from 2016 to 2022, according to a new report by... 

Second Nigerian tomato paste plant shuts, in embarrassment for Buhari

By: Reuters     19th January 2017 Africa's richest man Aliko Dangote has shut his new tomato paste plant in Nigeria due to a shortage of dollars needed to import raw materials, a senior executive said, the second such closure in months in a blow to official plans to diversify the economy. President Muhammadu Buhari, elected in... 

South Africa growth ticking up, Mexico slowing – S&P

By: Reuters     19th January 2017 South Africa should avoid falling into recession this year, the chief economist of Standard & Poor's said on Wednesday, but the firm has cut its forecasts for Mexico amid rising concerns over its trade ties with the United States under Donald Trump. Paul Sheard, who is not involved in deciding... 

Atlas Copco to sell road construction business

By: Reuters     19th January 2017 Mining gear and compressor maker Atlas Copco will sell its road construction equipment business to French industrial and construction company Fayat Group, it said on Thursday, booking a loss of about 2-billion Swedish crowns ($225-million). Atlas announced plans a week ago to sell the business,... 

Boyne blames ‘uncompetitive’ power prices for production curtailment

By: Esmarie Swanepoel     19th January 2017 Gladstone’s Boyne smelters, which are 59% held by mining major Rio Tinto, have announced production cuts and redundancies, blaming “unsustainably” high power prices. Boyne is currently Australia’s largest aluminium smelter, producing 570 000 t/y. 

Egypt on track to receive IMF loan's second tranche

By: Reuters     19th January 2017 Egypt is on track to receive the second tranche of a $12-billion three-year loan from the International Monetary Fund (IMF) pending a visit in the end of February to review progress on its economic reform program, the fund said on Wednesday. The IMF originally approved the loan, intended to... 

Moody’s base metals optimism rises despite seeing price fall back this year

By: Henry Lazenby     19th January 2017 Market analyst and ratings agency Moody’s Investors Service has adjusted upwards its pricing sensitivities for base metals in 2017, but says despite the recent run-up in base metal prices not being sustainable, some of the positive sentiment will remain. Moody’s said Wednesday it expected the... 

Diamond lobby said to seek ten-fold jump in budget to spur demand

By: Bloomberg     18th January 2017 The diamond industry is looking to up the ante on its effort to win over younger consumers more interested in gadgets and gastronomy. The Diamond Producers Association lobby will ask its backers including top miners De Beers and Alrosa PJSC to raise its budget to as much as $60-million a year... 

Dangote, China's Sinotruck set up $100m truck plant in Nigeria

By: Reuters     18th January 2017 Africa's richest man Aliko Dangote has partnered with China's heavy duty truck group Sinotruck to set up a $100-million plant to assemble trucks and cars in Nigeria for local use and export, the executive director of Dangote group said. The joint venture, which is 65% owned by Dangote and 35% by... 

Philippines cancels permits of 4 more mining projects in green campaign

By: Reuters     18th January 2017 The Philippines has cancelled the environmental permits for four more mining projects, including one planned nickel venture, as the world's top nickel ore supplier deepens a months-long crackdown on the resources sector. The Southeast Asian nation has been reviewing hundreds of environmental... 

DRC drops objection to $3.8bn Freeport, Lundin sales

By: Bloomberg     18th January 2017 The Congolese government has dropped objections to Freeport-McMoRan and Lundin Mining’s $3.8-billion combined sales of one of the country’s biggest mines to Chinese companies, bringing an end to an eight-month dispute. Minister of Mines Martin Kabwelulu said by text messages that he had written... 

Rio ends quest for China mine riches with biggest shareholder

By: Bloomberg     18th January 2017 Rio Tinto Group and its largest shareholder Aluminum Corporation of China have terminated their joint venture (JV) established to find copper deposits, as global mining companies tighten exploration budgets. Chinalco Rio Tinto Exploration, a JV between Rio and Aluminum Corpporation, also known... 

Nigeria plan to link mines to steel mill seen as Buhari test

By: Bloomberg     18th January 2017 Nigeria’s plan to build a railway to supply iron-ore to its idle Ajaokuta steel plant could be the biggest sign yet that President Muhammadu Buhari is implementing his policy to diversify away from oil. The project began in 1979 with what the World Bank in 2002 called obsolete Soviet technology,... 

New financing models needed for infrastructure

By: African News Agency      18th January 2017 Global leaders and representatives of Canada, France, Switzerland, China, South Africa and the United States on Tuesday, questioned the ability of public sectors across the globe to develop proper infrastructure ecosystems. Financing of infrastructure projects seemed not to be the major obstacle... 

Israeli official opposes extension to ICL's Dead Sea mining permit

By: Reuters     17th January 2017 Israel Chemicals' (ICL's) permit to mine in the Dead Sea should not be extended when it expires in 2030 but instead the rights should be put up for sale by tender, a senior Finance Ministry official recommended on Tuesday. "Holding a tender is the correct way to maximise the public's share of the... 

Organic growth in local companies to boost employment, but scarce skills a concern – PwC 

By: Megan van Wyngaardt     17th January 2017 Amid the country’s rising unemployment rate, 83% of South African CEOs are confident about their company’s prospects for revenue growth over the next year, which will result in an increase in headcount. In its eighth South African edition of the yearly Global CEO Survey, financial services firm... 

Djibouti breaks ground on massive Chinese-backed free trade zone

By: Reuters     17th January 2017 The president of Djibouti on Monday formally launched the construction of a project touted as Africa's largest free trade zone, to be built in the tiny Horn of African nation with Chinese backing. The agreement to build the 48 square kilometre free trade zone was signed in March 2016 as part of... 

Rio Tinto hits 2016 production target, keeps 2017 guidance

By: Esmarie Swanepoel     17th January 2017 Mining giant Rio Tinto has delivered a strong production quarter in the three months to December, helping the group to achieve its targeted iron-ore shipments for 2016. Australia’s largest iron-ore miner produced 85.5-million tonnes in the fourth quarter, taking 2016’s production to 329.5-million... 

Vale loads first iron-ore shipment from giant new S11D mine

By: Henry Lazenby     16th January 2017 The world’s biggest iron-ore miner, Vale, has loaded the first ore from its largest-ever mine, the S11D project, in Canaã dos Carajás, south-east of Pará, at the Ponta de Madeira docks. On Friday, Vale loaded its first 26 500 t of commercial ore produced at the $14.4-billion mine in Brazil,... 

Iron-ore opens 2017 with a bang after flaying skeptics last year

By: Reuters     16th January 2017 Iron-ore has carried last year’s bullish momentum into the start of 2017, with prices rallying to a two-year high amid speculation that China’s demand for overseas ore will hold up even as the world’s largest miners bring on new capacity. Ore with 62% content in Qingdao in China climbed 3.9% to... 

Trump threatens German carmakers with 35% US import tariff

By: Reuters     16th January 2017 US President-elect Donald Trump warned German car companies he would impose a border tax of 35% on vehicles imported to the US market, a plan that drew sharp rebukes from Berlin and hit the automakers' shares. In an interview with German newspaper Bild, published on Monday, Trump criticized... 

Gold rises on Trump uncertainty, Brexit concerns

By: Reuters     16th January 2017 Gold rose on Monday, buoyed by safe-haven demand due to uncertainty over US policy ahead of President-elect Donald Trump's inauguration and amid concerns over Britain's exit from the European Union. Spot gold had risen 0.5% to $1 203.15/oz by 0548 GMT. 

China's top coal province to cut 20Mt of capacity in 2017 - Xinhua

By: Reuters     16th January 2017 China's top coal-producing province Shanxi will cut 20-million tonnes of output capacity this year, state news agency Xinhua reported. Tackling excess coal production capacity will remain the provincial government's priority in 2017, Xinhua quoted Shanxi Governor Lou Yangsheng as saying on... 

Geopolitical tensions, other factors to boost gold demand this year

By: Megan van Wyngaardt     13th January 2017 Heightened political and geopolitical risks, currency depreciation, expectations of rising inflation, inflated stock market valuations, long-term Asian growth and the opening of new markets are all expected to positively influence demand for gold and gold’s performance this year, says the World... 

Shining iron-ore future for Sierra Leone possible as Chinese investors commit

By: Natasha Odendaal     13th January 2017 The $700-million planned injection by Chinese State-owned mining company Shandong Iron and Steel into an iron-ore processing plant at the Tonkolili mine, in Sierra Leone, has further cemented the West African region’s strong mining outlook, BMI Research said on Friday. The new investment, which... 

Thirty-two tons a second shows China’s record iron appetite

By: Bloomberg     13th January 2017 Iron-ore imports by China surged to a record above one-billion metric tons last year as unexpectedly strong steel production and lower local mine output combined to fire up demand in the world’s top buyer for cargoes from Australia and Brazil, supporting a rebound in prices. Asia’s top economy... 

Coal’s recovery too good to resist for world’s biggest exporter

By: Bloomberg     13th January 2017 Indonesia will exceed its coal production target for another year as miners cash in after prices recovered from a five-year collapse. The world’s biggest exporter will produce about 489-million metric tons this year, 18% above the government-mandated target, according to energy ministry... 

India’s diamond exports to top buyer US seen rising on Trump

By: Bloomberg     13th January 2017 India’s diamond cutters, who polish 14 of every 15 of the world’s gems, are betting on Donald Trump to sustain the expansion of their biggest market in the US, even as Asian buying of luxury stones falters. India expects to export 10% to 15% more polished diamonds to the US in the year beginning... 

SA fly-farm venture secures funding for global expansion

By: Irma Venter     12th January 2017 Cape Town-based waste-to-protein producer AgriProtein says it has secured $17.5-million of further capital from its key strategic partners to fund the company’s expansion into Europe, North America and Asia.   The new investment values the fly-farming venture at more than $117-million.   The new... 

Indonesia says Freeport, other miners halt exports

By: Reuters     12th January 2017 Freeport-McMoRan and other miners have halted Indonesian shipments of copper concentrates to abide by a government ban on semi-processed metal ore exports that took effect on Thursday, a mining ministry official told Reuters. The stoppage could prove to be brief though as President Joko Widodo's... 

An Efficient Approach to Obtain an MID Approval for Measuring Instruments

     11th January 2017 For manufacturers, the time to market for their measuring instruments can be crucial, particularly during massive and time-limited roll-out programs, as are currently taking place for smart meters in several European countries. Typically, a considerable fraction of the time to market for... 

Uranium gains 10% as top producer plans output cut amid glut

By: Bloomberg     11th January 2017 Uranium surged the most in more than three weeks as Kazakhstan said it will reduce production by 10% this year after prices slumped in 2016 amid a global inventory glut. Spot uranium rose $2.25, or 10%, to close at $24.25 a pound on Tuesday, the highest level since September, according to data... 

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