R/€ = 15.83 Change: 0.11
R/$ = 13.44 Change: 0.03
Au 1243.94 $/oz Change: 6.10
Pt 881.17 $/oz Change: 3.67


Water department recoups portion of R10.7bn municipal debt

By: Natasha Odendaal     13th December 2017 Since threatening to restrict water flow to recover R10.7-billion debt from defaulting municipalities, the Department of Water and Sanitation (DWS) has recouped more than R250-million and secured commitments amounting to R300-million. In November, the DWS had issued notices to 30 defaulting... 

Highland board adopts dividend policy

By: Mariaan Webb     13th December 2017 The board of Aim-listed Highland Gold on Wednesday announced its dividend policy, which states that its total payout for each financial year will be 20% of net cash flow from operating activities. The board may also recommend the distribution of additional cash on the balance sheet through... 

Separate stock exchange listing for Aura’s Sweden project

By: Mariaan Webb     13th December 2017 Dual-listed uranium and gold focused Aura Energy has started the process to list its Häggån project in Sweden separately on multiple international exchanges to “maximise the value of the battery metal content” of the project. The project contains vanadium, molybdenum, cobalt, neodymium, nickel... 

Amplats makes progress in repositioning its portfolio

By: Dylan Slater     13th December 2017 Platinum miner Anglo American Platinum (Amplats) is making significant progress in repositioning its portfolio. This has, thus far, enabled the miner to move its production down the cost curve, thereby resulting in a more value enhancing portfolio. 

Unimin to buy shale sand supplier Fairmount in cash-and-stock deal

By: Reuters     13th December 2017 Fairmount Santrol Holdings said on Tuesday it would sell itself to Unimin in a cash-and-stock deal to create one of the largest suppliers of sand for use in hydraulic fracturing to shale oil and gas producers. The deal, which is expected to close by the middle of next year, will create a company... 

Lupaka upgrades Invicta road as a critical step towards imminent production

By: Henry Lazenby     12th December 2017 Peru-focused gold explorer and project developer Lupaka Gold has appointed a contractor to expand, enhance, and modify 27 km of road starting from the paved Huacho-Churin-Oyon highway, located at about 1 500 m above sea level, up to the Invicta project, located at about 3 500 m above sea level.... 

Addressing The True Cost Of Sub-Standard Transfer Points

     12th December 2017 The level of performance of a mine’s transfer points contributes to some of its highest maintenance costs, but many engineers often do not consider transfer systems as critical elements of the minerals processing systems. This is the view of Mark Baller, managing director of transfer chute... 

Mkango receives conditional TSX-V approval for Talaxis transaction

By: Mia Breytenbach     11th December 2017 The TSX-V has conditionally accepted dual-listed Mkango Resources’ transaction with Noble Group subsidiary Talaxis, which will invest £12-million to fund a bankable feasibility study (BFS) at Mkango’s Songwe Hill rare-earth project in Malawi. "We are very pleased to announce conditional... 

Doray reports record production at Deflector

By: Creamer Media Reporter      11th December 2017 The Deflector underground mine, in Western Australia, has delivered record gold production last month. The Deflector mine produced 5 895 oz of gold in November, compared with the precious record of 5 050 oz in October, ASX-listed Doray Minerals reported on Monday. 

Brazil's Vale says to slash debt to $10bn by 2019

By: Reuters     8th December 2017 Brazilian miner Vale will likely reduce its $21-billion debt load to $10-billion by 2019, and will dedicate cash flow from then on to paying out dividends, the CFO of the world's top iron-ore producer said on Friday. "The message is very clear here, which is that beyond the achievement of the... 

AWE shares rise on fresh offer from Chinese group

By: Mariaan Webb     8th December 2017 Shares in Australian oil and gas company AWE rose 10% on Friday after State-owned China Energy Reserve and Chemical Group made a fresh offer of $0.73 a share in cash. The offer is A$0.02 higher than the proposal two weeks ago, which the AWE board has brushed off as too low. 

Blockchain set to change transactions, information flow and business processes

By: Schalk Burger     8th December 2017 Trust is the underlying factor supporting financial systems – from the value of currency and financial transactions to public spending. Similarly, trust underpins almost all information transfers, and money is a medium that allows people to ‘communicate’ value throughout an economy, says... 

eCobalt switches strategic focus to cobalt concentrate, instead of sulphate

By: Henry Lazenby     8th December 2017 TSX-listed project developer eCobalt Solutions has decided to rather focus on producing a cobalt concentrate at its Idaho Cobalt Project (ICP), citing a reduced premium on cobalt sulphate on the back of Chinese capacity consolidation, cost reduction and production increases. “Due to these... 

Knysna rental company acquires high-quality TLB

By: Marleny Arnoldi     8th December 2017 The downside of unreliable plant hire equipment is two-fold; for the end-user, unplanned downtime translates into project delays, while for the plant hire company, faulty gear translates to foregone profits and a tarnished reputation, says George-based equipment distributor Carlu Tractors.  

Blockchain set to change transactions, information flow and business processes

By: Schalk Burger     8th December 2017 Trust is the underlying factor supporting financial systems – from the value of currency and financial transactions to public spending. Similarly, trust underpins almost all information transfers, and money is a medium that allows people to communicate value throughout an economy, says financial... 

Phase angles

By: Terry Mackenzie-hoy     8th December 2017 I was in a courtroom the other day and the public prosecutor was asking questions . Unfortunately they were not engineering questions and I am an engineer. Thus, I did not understand the questions or why they were being asked. As a true engineer, I would say, "Ah, if you mean . . .", and I would... 

Barloworld board looks to improve capital allocated to leasing assets to improve returns

By: Schalk Burger     7th December 2017 Earthmoving equipment and logistics multinational Barloworld’s board on Thursday announced that it was investigating the capital allocated to leasing assets to further optimise capital allocation into higher-returning opportunities. Various options are currently under consideration in relation to... 

Steinhoff identifies €1bn noncore assets to boost liquidity

By: Schalk Burger     7th December 2017 In the grip of an accounting scandal that led to it indefinitely postponing the release of its 2017 financial results, JSE-listed retail multinational Steinhoff  noted on Thursday that it had received expressions of interest in noncore assets that will release a minimum of €1-billion of... 

Tshipi Borwa manganese mine boosts Jupiter to R336-million interim profit

By: Schalk Burger     6th December 2017 South Africa’s Tshipi Borwa manganese mine provided ASX-listed Jupiter Mines with an interim profit of R336-million, while its Australian Mount Ida magnetite and Mount Mason direct shipping ore hematite projects remain under care and maintenance. “During the half-year period, the focus was on the... 

Sarb’s attack could cost Mkhwebane her job, PP counsel argues

By: News24Wire      6th December 2017 The South African Reserve Bank’s (Sarb) personal attack on Public Protector Busisiwe Mkhwebane’s integrity could cost Mkhwebane her job, a court has heard. During the Bankorp-CIEX hearing which continued on Wednesday at the North Gauteng High Court, Mkhwebane’s legal counsel Paul Kennedy SC... 

Intermin reaffirms guidance as first ore is hauled from Teal Stage 2

By: Dylan Slater     6th December 2017 Western Australia-focused gold mining company Intermin Resources has started hauling the first ore from Stage 2 operations at its Teal gold mine, north-west of Kalgoorlie-Boulder, to a nearby processing plant, the ASX-listed company reported on Wednesday 

Vukile continues to grow Spain retail portfolio

By: Schalk Burger     6th December 2017 JSE-listed retail property trading company Vukile Property Fund added two Spanish retail parks, worth about €65-million, to its portfolio of 11 other Spanish retail parks. CEO Laurence Rapp said in a note on Wednesday that the total value of the Spanish portfolio was about €290-million. Vukile’s... 

Sprott backs Kin with A$35m for Leonora gold project

By: Mariaan Webb     6th December 2017 Emerging gold development company Kin Mining has secured A$35-million from Canada’s Sprott Private Resource Lending for the construction of its Leonora gold project, in Western Australia. The three-year loan provides Kin with sufficient funding to carry out preproduction capital works, including... 

Harmony Gold spells out value of Moab investment

By: Martin Creamer     6th December 2017 The acquisition of the Moab Khotsong gold mine represents a significant list of advantages for Harmony Gold, the company outlined in an investor brief on Wednesday. The Johannesburg Stock Exchange-listed gold mining company calculates that inclusion of the Moab Khotsong operations the company... 

Mining should prepare for future of technology and automation

By: Mariaan Webb     6th December 2017 Global mining major BHP CEO Andrew Mackenzie says the mining industry has to show leadership and prepare its workforce for a future in which technology will play an ever-important role. In a philosophical address at the Melbourne Mining Club this week that also delved into how the West and the... 

Vale to use cash flow to pay dividends, reduce debt – CEO

By: Reuters     4th December 2017 Brazil's Vale, the world's top iron-ore producer, will use cash flow, which could reach $14-billion or $15-billion this year, to cut debt and pay dividends, CEO Fabio Schvartsman said on Monday. Speaking at an event in Rio de Janeiro, Schvartsman said the miner tended to generate $14-billion or... 

Tribunal approves mergers involving seed, wheat milling companies

By: Anine Kilian     4th December 2017 The Competition Tribunal has approved the acquisition of seed and wheat milling companies Progress Milling and Noordfed by holding company K2014202010, a joint venture between Louis Dreyfus Company Africa (LDCA) and DH Brothers Industries Willowton.     The tribunal approved the transactions... 

GBM scoping study shows economic viability of Mt Coolon project

By: Dylan Slater     4th December 2017 A recent scoping study conducted by junior GBM Resources for its Mt Coolon gold project has indicated that it may be economically viable to redevelop the project, which shows the potential to generate strong positive cash flow 

McEwen secures $10m in Timmins exploration funding

By: Henry Lazenby     1st December 2017 Gold producer McEwen Mining has secured a $10-million financing to support a 2018 exploration programme on its newly acquired Black Fox mine and associated assets in Ontario’s Abitibi Gold Belt. The financing comprises a $10-million bought deal of four-million flow-through common shares priced at... 

Firestone revises mine plan amid lower diamond values

By: Natasha Odendaal     1st December 2017 Aim-listed Firestone Diamonds has made a good start to mining at the Liqhobong mine, in Lesotho, with all operational targets within management's control having either been met or exceeded after the mine development project was completed within budget. However, lower-than-expected average diamond... 

Core Exploration enters maiden offtake, prepayment agreements

By: Natasha Odendaal     1st December 2017 ASX-listed Core Exploration has entered into a binding lithium offtake agreement and a conditional $20-million prepayment agreement with China-based lithium hydroxide and carbonate producer Ya Hua International Investment and Development for the Finniss lithium project, near Darwin, in the... 

Local company popularises electrical heat tracing

By: Nica Schreuder     1st December 2017 Amid escalating costs of heating containers using traditional methods, such as steam or gas, a more cost-effective, efficient and controlled method of ensuring the constant heating of containers is electrical heat tracing (EHT), says eltherm South Africa MD Peter Stone. EHT specialist eltherm... 

Heat exchangers made compact

     1st December 2017 Wisconsin-based shell and tube heat exchangers company Enerquip has added a new line of compact heat exchangers to meet growing demands from customers with low flow-rate applications. Enerquip is one of the leading providers of heating and cooling equipment for production plants and... 

Separators offer versatility and low maintenance

     1st December 2017 Compressed air technology, equipment and systems specialist Atlas Copco Compressor Technique’s OSC range of condensate separators for compressed air systems is capable of working with compressor systems that are between 74 cfm and 4 984 cfm. There are eight models in the OSC range that use the... 

Small size particles prompt regular filter replacement

     1st December 2017 Owing to typical commercial primary filters in a pneumatic circuit being designed to filter out particles as small as 5 μm from the air, particular hydraulic systems, motion and control technologies diversified manufacturer Parker Hannifin says companies need to change or clean dirty elements as... 

Lesotho Highlands Water Project – Phase II

By: Sheila Barradas     1st December 2017 Two more advance infrastructure construction tenders have been advertised. 

Orford to capitalise on ‘district-scale’ Qiqavik gold discovery, near-term catalysts in Carolina

By: Henry Lazenby     30th November 2017 Planning is under way for another summer drill campaign at recently-gone-public explorer Orford Mining’s Qiqavik project, in the remote emerging gold belt of Cape Smith, in Northern Quebec. “We’ve discovered a new gold district in Canada. This is like walking into the Timmins Belt for the first... 

FLSmidth launches new, modular Reflux Classifier plant 

     30th November 2017 Minerals and cement industry equipment and services supplier FLSmidth has officially launched its modular Reflux Classifier plant, which is suitable for fines gravity separation applications. Mia Breytenbach has the details. 

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