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Australia’s CEFC invests A$20m in lithium/tantalum mine

By: Esmarie Swanepoel     27th June 2017 The federal government will invest around A$20-million into the Pilgangoora lithium tantalum project, in Western Australia. The investment will be done through the Clean Energy Finance Corporation (CEFC), and is the current government’s first investment in a mining project of this kind in... 

Shorts pile into cash-strapped Lonmin as platinum flounders

By: Bloomberg     27th June 2017 The last time there was so much short-selling on Lonmin Plc, the platinum miner was weeks away from a life-saving rights issue. At 14% of the total outstanding shares, Lonmin is the seventh-most-shorted stock on the 645-member FTSE All-Share Index, according to data compiled by Markit. That... 

Pretium launches C$5m flow-through financing following first Brucejack gold pour

By: Henry Lazenby     27th June 2017 Canadian gold miner Pretium Resources has negotiated a nonbrokered private placement consisting of 329 000 flow-through common shares at C$15.20 each, for gross proceeds of about C$5-million. The company, which last week announced that first gold has been poured at its flagship Brucejack mine, in... 

Yancoal said to add new incentives to offer for Rio coal assets

By: Bloomberg     26th June 2017 China-controlled Yancoal Australia added new incentives to its offer for Rio Tinto Group’s Australian coal assets to fend off a last-minute challenge by rival Glencore, according to a person with knowledge of the situation. Yancoal submitted a revised offer and will release details of the... 

CoAL's Uitkomst buy completed after supply agreement finalised

By: Esmarie Swanepoel     26th June 2017 Triple-listed Coal of Africa (CoAL) has announced that all conditions precedent for its R275-million buy of South Africa's Pan African Resources Coal Holdings have been fulfilled, after a supply agreement was signed over the Uitkomst colliery. The transaction will now be effective at the end of... 

Volt garners more Chinese interest

By: Esmarie Swanepoel     23rd June 2017 Graphite developer Volt Resources has signed an offtake agreement with China’s Guangxing Electrical Materials (GEM) for 5 000 t/y of flake graphite concentrate from the Stage 1 production of the Namangale project, in Tanzania. The company said on Friday that it was hoping to finalise a binding... 

Rio flags $180m hit to H1 underlying profit after bond buyback

By: Reuters     23rd June 2017 Rio Tinto said on Friday it has completed a planned bond buyback, reducing gross debt by $2.5-billion, with the early redemption costs likely to reduce first-half underlying profit by about $180-million. The global miner said that since the start of 2016 it has reduced the face value of... 

Expansion ensures greater manufacturing capability for Hydra-Arc

By: Nica Schreuder     23rd June 2017 Steel fabricator Hydra-Arc has recently expanded its machining capability allowing them to take on work previously done by international manufacturing and engineering companies. Founded in 1987 by Jose Maciel, Hydra-Arc has grown from a supplier of specialised welders into a leading refinery... 

R&D incentives pivotal for sector growth

By: Nica Schreuder     23rd June 2017 The direct correlation between successful economies and their investment into research and development (R&D), is the reason consultancy firm Cova Advisory joint MD Duane Newman says it is important that local manufacturing sector and government continue to engage in the R&D incentives made... 

Solar Powered Variable Speed Drives For Remote Borehole Applications

     21st June 2017 Farmers are making increasing use of photovoltaic solar panels and variable speed drives (VSDs) to get clean and continuous power to their boreholes in remote locations, cutting out the need for costly infrastructure and cables to link with the main grid. Zest WEG Group, a subsidiary of leading... 

New building inaugurated for company anniversary

     20th June 2017 Endress+Hauser Flowtec AG looks back 40 years – world-leading manufacturer for flow measuring technology The market for high-quality flowmeters has been growing for decades, with the name Endress+Hauser Flowtec AG in Reinach, Switzerland, closely linked to the last 40 years. “The new facility,... 

Gold Fields opts for hedging amid commodity price volatility

By: Megan van Wyngaardt     20th June 2017 Given recent volatility in commodity prices and exchange rates, dual-listed Gold Fields has undertaken select hedging of the oil price and the Australian dollar gold price, the miner said on Tuesday. Gold Fields’ Australian dollar gold price hedge would comprise 165 000 oz at a floor price of A$1... 

Access to Tahoe’s Escobal mine blocked, guidance remains unaffected

By: Henry Lazenby     20th June 2017 Protestors near the town of Casillas, in south-east Guatemala, have blocked access to precious metals miner Tahoe Resources’ flagship Escobal mine, the third-largest silver mine in the world. The protests appear to relate to a variety of issues, including claims that mining at Escobal is causing... 

Australian Potash gets offtake for Lake Wells

By: Esmarie Swanepoel     19th June 2017 ASX-listed Australian Potash has signed a memorandum of understanding (MoU) with China’s Hubei Agricultural Means of Production Group (Hubei-Agri) for the sale of up to 100 000 t/y of sulphate of potash (SoP) from the Lake Wells project, in Western Australia. Under the terms of the MoU,... 

Metalicity eyes DSO operation at Admiral Bay

By: Esmarie Swanepoel     19th June 2017 ASX-listed junior Metalicity is hoping to bring forward production at its Admiral Bay zinc project, in Western Australia, with the introduction of an ore sorting technique. The company said on Monday that it would undertake a detailed assessment programme of the ore sorting technique as part of... 

Engineering company divests welding and wire cutting businesses

     16th June 2017 Engineering company Sandvik Materials Technology intends to divest its welding and stainless steel wire cutting businesses in order to consolidate its product portfolio and improve its long-term performance. 

Gardner Denver announces deferred stock grant to employees as it lists

By: David Oliveira     16th June 2017 Industrial, energy and medical flow control and compression solutions provider Gardner Denver listed on the NYSE last month, by announcing more than $100-million in deferred stock unit grants to nearly 6 000 of its employees worldwide. In a video message to team members around the globe Gardner... 

Lesotho Highlands Water Project (LHWP) – Phase II, Lesotho and South Africa

By: Sheila Barradas     16th June 2017 The Lesotjo Highlands Water Commission has embarked on a countrywide roadshow to update the construction industry and other stakeholders on the implementation of the project. 

Alrosa, Dubai trader strengthen ties

By: Megan van Wyngaardt     15th June 2017 The Dubai Multi Commodities Centre (DMCC) and Russian diamond miner Alrosa have agreed to enhance diamond trade cooperation. The parties discussed options for expanding Alrosa’s trading activities at the Dubai Diamond Exchange – a DMCC entity – as well as agreements on enhanced efforts to stem... 

Miners tumble as South Africa escalates black ownership rules

By: Bloomberg     15th June 2017 Companies including Anglo American and Sibanye Gold dropped after South Africa increased the minimum black ownership requirement for local mines and set a 12-month deadline for compliance with the new rules. The Department of Mineral Resources will raise the requirement from the current 26% to... 

Minister of transport slams taxi protest

By: African News Agency      15th June 2017 Minister of Transport Joe Maswanganyi on Thursday condemned the blocking of major roads in Gauteng by taxi operators which has caused widespread havoc. Large areas of Johannesburg, Midrand and Pretoria were no-go areas on Thursday after taxis aligned to South African National Taxi Council... 

Tawana reports maiden lithium resource in WA

By: Esmarie Swanepoel     14th June 2017 Junior Tawana Resources has reported a maiden indicated and inferred mineral lithium resource at its Bald Hill lithium and tantalum project, in Western Australia, of 12.8-million tonnes, grading 1.18% lithium oxide and 158 parts per million tantalum pentoxide. MD Mark Calderwood said on Wednesday... 

De Beers opens platform for third-party polished diamond sales

By: Megan van Wyngaardt     13th June 2017 Sellers and buyers of responsibly sourced, exceptional polished diamonds will be able to transact anonymously through the De Beers Auction Sales platform for the first time, when the group’s exceptional polished stones auction is held on June 29. The diamond miner believes buyers and sellers will... 

Stor-Age maintains growth trajectory

By: Anine Kilian     13th June 2017 JSE-listed real estate investment trust Stor-Age increased its divided by 10% year-on-year to R88.05 in the year ended March 31 and is expecting 9% to 10% dividend growth in the current financial year. The company noted that its results were driven by a strong trading performance across the... 

Exploration needed to sustain Botswana diamond history

By: Martin Creamer     13th June 2017 The only way that Botswana can have a long and continued proud history of diamond mining is to spend money on diamond exploration, Botswana Diamonds MD James Campbell said on Tuesday, when he urged the country to consider adopting the Canadian flow-through incentive scheme to boost exploration... 

Serendipity smiles on Mkango’s Malawian assets as renewables growth demands more REEs

By: Henry Lazenby     13th June 2017 Demand for rare earth elements (REEs) for use in magnetic applications such as electric vehicles and wind turbines is driving renewed interest in securing supplies of these hard-to-come-by metals outside of the world’s dominant supplier China. This is exacerbated by the fact that while REEs are... 

Impact of copper strikes fizzles on scrap inflow, mine rebound

By: Bloomberg     12th June 2017 Disruptions at the two biggest copper mines early this year may have only a muted impact on prices after a surge of scrap metal partially filled the supply gap and a recovery in mine output is due to help in the second half. A strike at the world's biggest copper mine, Chile's Escondida, and... 

S&P's places Polyus ratings on CreditWatch positive

By: Megan van Wyngaardt     9th June 2017 Ratings agency S&P Global Ratings Services has placed its 'BB-' issuer credit ratings on Russian gold miner PJSC Polyus and its controlling shareholder, Polyus Gold, on CreditWatch with positive implications. S&P’s highlighted the company’s strong profitability, positive free operating cash flow... 

Committed to supporting SMMEs in South Africa

     9th June 2017 The NDP is a plan for the whole country. Government needs to engage with all sectors to understand how they are contributing to implementation, and particularly to identify any obstacles to fulfilling their role effectively. The plan sets out ambitious goals for poverty reduction, economic... 

Computational fluid dynamic simulation benefits industry

     9th June 2017 Numerical modelling of bulk processes using computer-based models provides a quicker and more beneficial method than manual calculations for complex steam generation systems, says engineering, construction and maintenance service provider Steinmüller Africa. Recently, full computational fluid... 

Increase in demand to create opportunities

     9th June 2017 The utility and industrial boilers market is predicted to experience an increase in demand, across a scope of applications, owing to rising industrialisation, says research and consulting services company Transparency Market Research (TMR). According to a 2017 research report conducted by TMR,... 

Bushveld subsidiary pays final $1m owed to Barak Fund

By: Creamer Media Reporter      8th June 2017 Aim-listed Bushveld Minerals’ Bushveld Vametco subsidiary has repaid the final $1-million due to Barak Fund under an $11-million bridge loan. Bushveld Vametco had entered into the bridge loan with Barak as part of its acquisition of a 78.8% shareholding interest in Strategic Minerals Corporation... 

Plymouth strengthens board

By: Creamer Media Reporter      8th June 2017 London-based Kevin Tomlinson has been appointed nonexecutive chairperson of ASX-listed Plymouth Minerals, which is advancing a large-scale lithium/tin deposit in Spain. Current executive chairperson Adrian Byass will assume the role of MD. 

KBI Announces Of Exciting Partnership With Aquflow USA

     8th June 2017 Kirloskar Brothers International (South Africa) (Pty) Ltd (KBI) is excited to announce its recent partnership with a US based Pump manufacturer AquFlow; who has appointed SPP Pumps SA (Pty) Ltd as the exclusive distributor of the AquFlow products in SA June 1, 2017. AquFlow was originally founded... 

Waitsia Stage 2 advances

By: Esmarie Swanepoel     8th June 2017 The joint venture (JV) partners for the Waitsia Stage 2 gas project, in Western Australia, have short-listed four contractors to compete in a design competition for the front-end engineering and design for the project. The Stage 2 design would include a gas plant capable of processing 100 TJ/d,... 

Lydian crests 50% capex pledge at low-cost Armenian Amulsar mine

By: Henry Lazenby     8th June 2017 Armenia-focused gold project developer Lydian International has reached the halfway mark in terms of the capital committed to build its cornerstone $369.9-million Amulsar project. The coming months will see the company report regular news flow as it achieves key construction-based catalysts, with... 

Competition Commission approves CoAL’s buyout of Uitkomst colliery

By: Megan van Wyngaardt     7th June 2017 The Competition Commission has approved triple-listed Coal of Africa Limited’s (CoAL’s) acquisition of Pan African Resources Coal Holdings, which owns 91% of the 50 000 t/m Uitkomst colliery, in KwaZulu-Natal. The acquisition was approved without conditions. 

Sibanye gets positive boost from ratings agencies

By: Megan van Wyngaardt     7th June 2017 JSE-listed platinum and gold miner Sibanye on Wednesday received a Ba2 rating from Moody’s Investors Service with a stable outlook and a B+ rating with a positive outlook from Standard & Poor’s (S&P’s) Global Ratings. In assigning the Ba2 corporate family rating to Sibanye, Moody’s noted that it... 

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