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Diesel switch sends rocketing rhodium market to new heights

By: Bloomberg     20th October 2017 Rhodium and ruthenium are having a banner week. Rhodium, mainly used in autocatalysts to curb harmful emissions, is benefiting as more European consumers choose gasoline-powered cars and trucks over diesel, said Jonathan Butler, a precious metals strategist at Mitsubishi Corp. in London. Drivers... 

TNPA progresses multibillion-rand investment in East London port

By: Creamer Media Reporter      20th October 2017 The Transnet National Ports Authority (TNPA) on Friday said it had injected R542-million into several major infrastructure and equipment projects at the Port of East London over the past few years as part of Operation Phakisa. This includes the R219-million refurbishment of the dry dock to... 

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... 

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... 

SA transport tech firm aims to expand into rest of continent

By: Irma Venter     20th October 2017 WhereIsMyTransport is expanding its reach to the rest of Africa. WhereIsMyTransport is a technology company that collects and connects public transport data, centralising regularly updated information about a city’s formal and informally run public transport networks (minibus taxis included) on... 

ELECTRIC SPINOFF

     20th October 2017 Aluminium components producer Sapa has reopened a British plant to supply material for the country’s first electric vehicle factory that will produce London black cabs. Pictured above, an employee fixes aluminum parts to a flight bar to be dipped into cleaning and anodising tanks at the plant in... 

St Helena Airport development

By: Sheila Barradas     20th October 2017 St Helena has welcomed its first commercial flight. 

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

Zuma unveils OR Tambo statue in commemoration

By: Sane Dhlamini     19th October 2017 The life of former African National Congress (ANC) president Oliver Reginald Tambo was commemorated on Thursday with the unveiling of a new statue of the former anti-apartheid struggle stalwart at international arrivals at the OR Tambo International Airport in Johannesburg. President Jacob Zuma... 

FBI opens investigation into South Africa's Guptas – FT

By: Reuters     19th October 2017 The FBI has opened an investigation into US links to South Africa's Guptas, escalating a scandal over the family's alleged use of a friendship with President Jacob Zuma to control state businesses, the Financial Times said on Thursday. Separately, Britain's banking regulator, the Financial... 

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... 

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

Glencore to swap Rusal stake for shares in Russia's En+

By: Reuters     19th October 2017 Glencore will swap its 8.75% stake in Russian aluminium giant Rusal for shares in En+ Group, an aluminium and hydropower group controlled by tycoon Oleg Deripaska, En+ said on Wednesday. En+ Group plans to raise $1.5-billion in an initial public share offering (IPO) in London and Moscow in... 

Diamond exploration intensifying close to mine that paid for itself in 3.5 days 

By: Martin Creamer     18th October 2017 London- and Botswana-listed Botswana Diamonds, which is funding diamond exploration on three sites in South Africa, expects to declare an inferred resource by year-end at its Thorny River project in Limpopo, which is located very close to the Marsfontein mine that had an astonishing... 

Niger must halt job cuts at Areva's uranium mine, group says

By: Bloomberg     18th October 2017 Activists in Niger urged President Mahamadou Issoufou to negotiate with Areva SA after the French company said it will cut 200 jobs at one of its uranium mines in the West African nation to adjust to lower prices for the nuclear fuel. “It’s absolutely untrue that the only solution is to lay off... 

As banks flee diamond trading, a startup plans to fill the gap

By: Bloomberg     18th October 2017 As major banks abandon the diamond trading world, one new lender is preparing to jump in. Dfin, a London-based corporate finance firm that specializes in the diamond sector, plans to lend $250-million to diamond polishers, cutters and traders -- known in the industry as the midstream -- over the... 

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... 

Brexit takes bureaucracy to the atomic level for UK industry

By: Bloomberg     17th October 2017 To understand the implications of Brexit, it helps to go nuclear. Of all the international regulatory challenges created by the UK’s impending departure from the European Union, the atomic-energy industry may best encapsulate the decision’s bottom-line effect: more bureaucracy and costs for a... 

Peru says over 20 companies interested in $2bn copper project

By: Reuters     17th October 2017 More than 20 companies have expressed an interest in bidding on the $2-billion Peruvian copper project Michiquillay in an auction due to take place on December 20, the Peruvian government said on Monday. The auction date had been pushed back from the originally scheduled November 15, state... 

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... 

London's gold crown slips on MiFID with New York poised to catch

By: Bloomberg     16th October 2017 London is losing its Midas touch. New rules from regulators, on top of uncertainties over the UK’s future relationship with the European Union, are denting the city’s position as the biggest center for gold trading in the world. The changes threaten to push up costs, a key competitive advantage... 

Tears and joy on Britain’s St. Helena as 'world's most useless airport' finally opens

By: Reuters     16th October 2017 One of humanity’s most isolated outposts joined the 21st century on Saturday when the British island of St. Helena, home to "the world's most useless airport", welcomed its first commercial flight. As the inaugural plane from Johannesburg touched down on the forbidding volcanic outcrop in the... 

Billionaire Agarwal increases stake in Anglo American to 19%

By: Bloomberg     13th October 2017 Billionaire Anil Agarwal has increased his stake in Anglo American to 19%, making him the biggest shareholder in the London blue-chip mining company. Agarwal’s Volcan Holdings Plc bought 102.2-million shares in Anglo, according to a regulatory filing Friday. The Indian billionaire, who said last... 

World's largest pink diamond expected to fetch up to $30m at auction

By: Reuters     13th October 2017 "The Pink Raj", an intense pink diamond described by experts as the world's largest, is expected to fetch up to $30-million when it is auctioned in Geneva next month. The stone, which weighs just over 37 ct, was displayed by auction house Sotheby's in London this week. 

Zambian villagers can sue Vedanta in the UK – London's Court of Appeal

By: Reuters     13th October 2017 Nearly 2 000 Zambian villagers can pursue a claim for damages in English courts for environmental pollution after London's Court of Appeal on Friday rejected an appeal by diversified miner Vedanta. Vedanta Resources and its Zambian subsidiary Konkola Copper Mines had appealed against a ruling in... 

Robin Partington & Partners Implements Federated BIM Workflow to Design Westminster Borough’s Iconic Tower

     13th October 2017 The GPB 500 million Merchant Square development brings together four buildings and their unique setting as one coherent piece of urban infrastructure in the heart of Paddington, London, United Kingdom. In order to transform the area into a landmark destination, European Land and Property... 

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... 

Bunch of old bananas or building materials of the future?

By: Reuters     12th October 2017 Potatoes reborn as insulation, peanuts processed into partition boards and mushroom bricks that grow in five days - just some of the ways the building trade could change its wasteful ways and construct virtuous new cities. In a report released on Wednesday, international engineering firm Arup set... 

Thor Mining upbeat on Nevada tungsten project after price rally

By: Reuters     11th October 2017 Thor Mining hopes to capitalise on a 50% rise in tungsten prices to nurture a discovery in the U.S. state of Nevada and bring online a more advanced project in Australia, its chairman said. 

Cautious investors still favouring gold royalty companies over miners

By: Reuters     11th October 2017 Investors in precious metals are opting for streaming and royalty companies over pure gold and silver miners this year despite a rise in metal prices, as producers struggle to win confidence in their ability to capitalise on the rally. Streaming and royalty companies provide financing for... 

Meridian reports record Q3 output, sales; new offtake accord

By: Henry Lazenby     11th October 2017 Manganese miner Meridian Mining has reported new record production and sales at its flagship Espigão project, in Rondônia, Brazil. London, UK-based Meridian achieved production of 18 488 t in the third quarter ended September 30, compared with 13 445 t in the comparable period a year earlier – a... 

Gamsberg zinc prestrip close to halfway mark – Vedanta

By: Martin Creamer     10th October 2017 The prestripping of waste rock at the Gamsberg zinc mine project in the Northern Cape is close to the halfway mark, Vedanta Resources reported on Tuesday, when its interim CEO Kuldip Kaura described as “strong” the quarterly production performances of the London-listed, India-rooted mining... 

Elliott tours BHP investors in renewed push for radical shake-up – sources

By: Reuters     10th October 2017 Activist investor Elliott has embarked on an international tour of BHP Billiton's biggest shareholders as it presses ahead with its campaign to force a radical shake-up of the FTSE 100 mining giant, sources familiar with the matter told Reuters. Representatives from Elliott have in the last month... 

Diamonds – the new gold for rich investors?

By: Reuters     10th October 2017 Diamonds can at last be an investor's best friend, the Singapore Diamond Investment Exchange (SDIX) said on Tuesday, as it launched a new standardised form of the precious stones to rival gold ingots as a safe-haven alternative to cash. The industry says diamonds are the world's most concentrated... 

Sonangol aims to slash oil production costs with board revamp

By: Reuters     9th October 2017 Angola's State oil company Sonangol is aiming to slash breakeven costs on new oil production to as low as $20/bl $30/bl and make its contracts more attractive to investors and oil and gas companies, the company's chief Isabel dos Santos told Reuters. On the sidelines of the FT Africa Summit in... 

Caledonia Mining sees golden opportunities in Zimbabwe dollar crisis

By: Reuters     9th October 2017 Caledonia Mining is seeking to expand in Zimbabwe, where output at its flagship gold mine has hit new highs and the country, gripped by a cash crisis, depends on it and other miners to generate currency. Zimbabwe is short of US dollars, a currency it adopted in 2009 after its own was wrecked by... 

Rio is said to weigh sale of Europe's top aluminum smelter

By: Reuters     6th October 2017 Rio Tinto Group is weighing the sale of Europe’s biggest aluminium smelter, according to people with knowledge of the matter, amid a rebound in the price of metal used in airliners and beverage cans. London-based Rio has been speaking with potential buyers for the Dunkerque smelter in northern... 

Transforming V&A's grain silos into Africa's largest contemporary art museum

By: Kim Cloete     6th October 2017 After four years of cutting, carving and engineering what at times seemed near impossible, the V&A Waterfront’s giant, historic grain silo has been transformed into the world’s largest museum dedicated to contemporary art from Africa. In an architectural and engineering feat, the nearly... 

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