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Threat of contagion in emerging markets deepens commodity risk

By: Bloomberg     13th August 2018 When Thailand devalued its currency two decades ago, few in global commodity markets took note. Within a year, the crisis morphed into an emerging-market rout that eviscerated the price of everything from crude oil to copper. Fast forward to today and Turkey is presenting a similar challenge. The... 

Government considering ban on microbeads after Gauteng drinking water is found to be contaminated

By: News24Wire      10th August 2018 The government has set up a task team to look at imposing a total ban on microbeads – the tiny plastic beads used in cosmetics, toothpaste and sandblasting. This comes after a Water Research Commission study found microplastic pollution in tap water in Johannesburg and Tshwane, as well as in all... 

Four Brics and a briquette

By: Riaan de Lange     10th August 2018 The headline of this article sounds a bit like a 1960s band. A popular music band. A pop band. But, alas, it is no band – it is what should be an honest reflection of what the world knows as Brics, an acronym for Brazil, Russia, India, China, and South Africa. Bric came into existence in 2008 and... 

Growth projected for global industrial furnaces and ovens market

10th August 2018 The global industrial furnaces and ovens market will reach $10 800-million by 2025, according to a report by market researcher QY Research. The global industrial furnaces and ovens market was valued at $9 530-million in 2017 representing a compound annual growth rate (CAGR) of 1.6% between... 

Tipping point?

By: Terence Creamer     10th August 2018 The dust has well and truly settled on of the tenth Brics summit, hosted in Johannesburg last month. While the event was generally viewed as positive from a South African perspective, it failed to capture the popular imagination. Most public interest centred on whether Russia’s strongman... 

Space agencies of South Africa and India strengthen cooperation

By: Rebecca Campbell     10th August 2018 The South African National Space Agency (Sansa) and the Indian Space Research Organisation (ISRO) formalised their relationship by signing a Memorandum of Understanding on the fringes of the recent Brics Summit in Johannesburg. (Brics is the alignment between Brazil, Russia, India, China, and... 

Should we worry about Chinese generosity?

By: Martin Zhuwakinyu     10th August 2018 Back in March, former US Secretary of State Rex Tillerson became the umpteenth Western big gun to urge Africans to beware of Chinese generosity on the continent, which has taken the form of freebies such as the African Union headquarters in Addis Abba, Ethiopia – built at a cost of $200-million... 

Indian private thermal power plants critical of CIL e-auctions

By: Ajoy K Das     8th August 2018 India’s independent power producers (IPPs) have flayed State-run Coal India Limited’s (CIL) move to push higher sales through e-auctions forcing thermal power plants without fuel linkages to resort to high cost dry fuel imports. However, simultaneously, the Power Ministry has asked all thermal... 

India's Goa state to push federal govt to restart mining

By: Reuters     6th August 2018 India's Goa state on Friday passed a resolution asking the state's chief Minister to push the federal government to amend laws to restart mining across the state, a state lawmaker said, months after the country's top court quashed mining permits. The resolution seeks to amend laws in Goa so that... 

Gold may hit $1 300 by end of year, ICBC says

By: Bloomberg     6th August 2018 Gold’s plunge to the lowest level in more than a year may be close to ending, and prices could climb back to $1 300 by December, according to ICBC Standard Bank. Bullion is set to average $1 26/oz in the third quarter and rise further in the following three months as interest rate increases are... 

Merger volumes fall in second quarter

By: Esmarie Swanepoel     3rd August 2018 Global merger and acquisition (M&A) transaction values in the mining and metals sector fell by 9.5% year-on-year in the second quarter of 2018, advisory firm Ernst & Young (EY) reported this week. In its latest quarterly data, the company noted that while deal value in the first half of 2018 was... 

Boeing predicts strong global airliner and services demand until 2037

By: Rebecca Campbell     3rd August 2018 Global aerospace giant Boeing has predicted that 42 730 new jet airliners, worth $6.3-trillion, will be needed to meet demand over the next 20 years. This forecast was unveiled in the group’s “Commercial Market Outlook”, released at the recent Farnborough International Airshow in the UK. This... 

Square Kilometre Array project, Africa and Australia

By: Sheila Barradas     3rd August 2018 A French consortium, comprising five research organisations and seven private companies, has joined the SKA Organisation. 

Nigeria oil refinery

3rd August 2018 Nigerian business magnate Aliko Dangote has arranged more than $4.5-billion in debt financing for his Nigerian oil refinery project. 

Gold demand falls 4% y/y in Q2

By: Anine Kilian     2nd August 2018 Global gold demand remained muted at 964 t in the second quarter, 4% lower year-on-year, according to the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report. Speaking to Mining Weekly Online, WGC member and market relations head John Mulligan said mine production in the second... 

Energy access solution lies in adopting VRFB technology in renewable energy – Nikomarov  

By: Simone Liedtke     1st August 2018 With about 650-million people in Africa currently without access to electricity, Bushveld Minerals subsidiary Bushveld Energy CEO Mikhail Nikomarov believes the solution lies in area-specific solutions. He explained in an interview with Mining Weekly Online that a solution needs to be an... 

New Indian EV battery policy to determine response to Bolivia lithium invite

By: Ajoy K Das     31st July 2018 An Indian government policy advisory body will publish a policy offering subsidies for lithium-based electric vehicle (EV) battery manufacturing, which will determine the response to an invitation from the Bolivian government for joint ventures (JVs) in lithium-rich Latin American nation. The... 

Lifting of Karnataka iron-ore restrictions brings miners and consumers into fresh conflict

By: Ajoy K Das     31st July 2018 The Central Empowered Committee (CEC), the body appointed by India’s Supreme Court on all matters related to mining, has recommended lifting restrictions on iron-ore pellet exports from the southern province of Karnataka, bringing to the fore the conflict between producers and consumers of the... 

South African, Indian space agencies strengthen their mutual cooperation

By: Rebecca Campbell     30th July 2018 The South African National Space Agency (Sansa) and the Indian Space Research Organisation (ISRO) formalised their relationship by signing a memorandum of understanding (MoU) on Friday. The ceremony took place on the fringes of the Brics Summit in Johannesburg. (Brics is the alignment between... 

India’s NMDC bags gold mine through highest bid at auctions

By: Ajoy K Das     30th July 2018 Indian State-run iron-ore miner NMDC will mark its maiden foray into gold mining, having bagged a gold mine in the southern province of Andhra Pradesh. NDMC was able to secure the rights to develop and produce from the gold mine emerging as the highest bidder at the auction pipping majors like... 

India to shift to revenue sharing contracts at oilfields auction next month

By: Ajoy K Das     30th July 2018 KIndia will usher in a shift to revenue-sharing contracts and scrap production sharing contracts (PSCs) when the government auctions 60 discovered small oilfields next month. The government will put up for auction 22 fields owned by national oil exploration and production (E&P) major ONGC, five... 

Coking coal continues multiyear price downtrend

By: Nadine James     27th July 2018 BMI Research expects coking coal prices to gradually edge lower in the second half of this year. Its expectation from the previous forecast done in March that premium hard coking coal export prices will fall below $200/t by mid-year, has played out as prices are now hovering at around $170/t. 

India makes tentative moves towards single tax rate for mining sector

By: Ajoy K Das     27th July 2018 India’s Steel Ministry has made the first tentative move towards achieving a single unified tax for the mining industry, subsuming the plethora of taxes currently payable by miners. Ministry officials acknowledged that the goal of having a single rate of tax for the mining industry would be... 

LafargeHolcim restructuring, Africa troubles dent H1 profit

By: Reuters     27th July 2018 LafargeHolcim first half profit fell 43%, the company said on Friday, as the world's largest cement took 300-million Swiss francs ($301.81-million) in restructuring costs from its overhaul under Chief Executive Jan Jenisch. The Zurich company said first-half net profit tumbled to 371-million... 

Lack of investment stymies SA coal producers

By: Nadine James     27th July 2018 A lack of investment is hindering the South African coal industry’s ability to capitalise on a period of relatively stable demand for thermal and metallurgical coal locally and abroad, says XMP Consulting senior coal analyst Xavier Prevost. The local coal industry is experiencing a challenging... 

Vesco celebrates 60 years, maintains eye on ten-year vision

By: Natasha Odendaal     27th July 2018 As Vesco and its subsidiaries celebrate 60 years of successful operations, the founding Leger family has large ambitions for the future. Despite several challenges, the family-owned enterprise is currently in year three of its ten-year strategy of capturing 10% of the world’s business and growing... 

Brics leaders commit to strengthen multilateral trading system amid ‘unprecedented challenges’

By: Terence Creamer     26th July 2018 Heads of State from Brazil, Russia, India, China and South Africa highlighted the benefits of multilateralism and cooperation for unlocking economic growth and development during the tenth Brics Summit, which took place in Johannesburg on Thursday. In the open session chaired by South Africa’s... 

Global steel output jumps in H1 as strong margins tempt mills to ramp up

By: Reuters     26th July 2018 Global crude steel output, a gauge of economic health, rose 4.6% in the first half of this year versus the same period last year, as strong margins prompted mills in major producing countries to ramp up, industry data showed on Thursday. Crude steel production for the 64 countries reporting to... 

PPC launches new, extended product range despite economic headwinds

By: Simone Liedtke     26th July 2018 PPC Cement South Africa on Thursday launched its fit-for-purpose ‘Sure’ product range, with each of the six products in the range carefully designed for a specific application. Dubbing it the company’s “most significant rebranding and refocusing in over 100 years,” PPC Cement South Africa MD... 

China loans to Africa energy, infrastructure projects almost trebled between 2016 and 2017

By: African News Agency      26th July 2018 The value of Chinese loans to energy and infrastructure projects in Africa almost trebled between 2016 and 2017 to nearly $9-billion and the impact of this lending is increasingly visible in Africa, law firm Baker McKenzie said at the sidelines of a Brics summit. Baker McKenzie, participating at... 

Business Leadership urges SA private sector to match foreign investment

By: African News Agency      26th July 2018 Business Leadership South Africa (BLSA) on Thursday urged the local private sector to help build on the BRICS Summit by matching and taking advantage of the investment opportunities presented by the summit and associated business forums.  This follows an announcement of US $14,7 billion worth of... 

South Africa opens door to future Russian nuclear power deal

By: Reuters     26th July 2018 South Africa cannot afford large-scale expansion of its nuclear power fleet but would still be open to future nuclear deals with Russia, the ruling party's Treasurer General said on Thursday shortly before President Vladimir Putin arrived for the Brics summit. The nuclear project was prioritised... 

Peabody looks at longer life for North Goonyella

By: Esmarie Swanepoel     26th July 2018 The Queensland Resources Council (QRC) has welcomed a decision by US major Peabody to extend its North Goonyella metallurgical coal mine, near Moranbah. Peabody on Thursday reported that with some 71-million short tonnes across the mine, the North Goonyella South project would extend the mine’s... 

India readying to lift ban on gold imports from South Korea

By: Ajoy K Das     25th July 2018 A sharp fall in gold imported into the country during the first quarter of the current financial year has prompted the Indian government to move toward an early lifting of the import ban of the precious metal from South Korea. With gold imports down 25% during first quarter at $8.43-billion and... 

Xi Jinping, Ramaphosa say Brics should uphold multilateralism, reject trade war

By: Terence Creamer     25th July 2018 The Presidents of China and South Africa, Xi Jinping and Cyril Ramaphosa, offered an unequivocal rebuke of US President Donald Trump’s trade war on Wednesday and called on the Brics countries of Brazil, Russia, India, China and South Africa to act to uphold multilateralism and defend the... 

Enabling environment needed for private sector to contribute to Africa’s development

By: Simone Liedtke     25th July 2018 To attract the financing needed to meet Africa’s investment needs, the public sector must create an enabling environment for the private sector to play its role, African Development Bank (AfDB) Southern African deputy director general Josephine Ngure says. Speaking at a pre-African Investment... 

Fiat Chrysler’s Marchionne dies at age 66

By: Irma Venter     25th July 2018 Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne has died, aged 66. Marchionne on the weekend stepped down from his position at the auto manufacturer, one year before he was scheduled to retire. He fell gravely ill following complications while recovering from shoulder surgery. 

South Africa 'collateral damage' in US-led global trading war – Davies

By: African News Agency      25th July 2018 South Africa has become "collateral damage" in the trading war involving mainly the United States, China, Canada and the European Union, with tariffs imports on its steel exports, Trade and Industry Minister Dr Rob Davies said on Wednesday. Global tensions have flared up as other countries hit... 

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