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Paragon sponsors UJ’s Graduate School of Architecture

     17th November 2017 The main sponsor of the Summer Show 2017 at the University of Johannesburg’s (UJ’s) Graduate School of Architecture (GSA) in November is leading architecture, interior design, and space-planning practice Paragon of Sandton, Johannesburg. Paragon has a long association with UJ’s Graduate School of... 

Empire State Connector, US

By: Sheila Barradas     17th November 2017 The project proposes to use upstate generators to deliver renewable energy and capacity directly into New York City. 

BHP eyes two-year exit from shale; also selling nickel

By: Reuters     16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

'Raj Pink' diamond fails to sell at Geneva sale – Sotheby's

By: Reuters     16th November 2017 "The Raj Pink", the largest known diamond graded "fancy intense pink" for its rare colour, was among several major jewels stranded on the auction block on Wednesday at Sotheby's sale in Geneva. The cushion-shaped stone, weighing 37.30 ct and mounted on a ring, was billed as the star lot at... 

Vale CEO Schvartsman cuts investments in low-return segments

By: Reuters     16th November 2017 Vale will halt new investments in low-return segments like its nickel business, the company's CEO said on Wednesday. Fabio Schvarstman told investors in a conference in New York on Wednesday that he expects nickel prices to recover over the medium term, as demand for the metal rises thanks to... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Offtake partners secured for US gigafactory - Magnis

By: Esmarie Swanepoel     15th November 2017 ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York. Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. 

Paulson holds stake unchanged in SPDR Gold Trust Q3 – filing

By: Reuters     15th November 2017 Paulson & Co held its stake unchanged in the world's biggest gold exchange-traded fund in the third quarter, a 13F filing with the US Securities and Exchange Commission showed on Tuesday. New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in SPDR Gold Trust at... 

Argentina seeks to overtake Chile in South America lithium race

By: Reuters     14th November 2017 The giant pools of turquoise water in the mountainous deserts of northwest Argentina shimmer in the sunlight like oases and for lithium miners like Australia's Orocobre, that is exactly what they are. The mid-cap miner is one of several lithium producers stepping up investment in Argentina amid... 

Third possible suitor shows an interest in acquiring PPC

By: Megan van Wyngaardt     13th November 2017 In addition to the buyout offer cement producer PPC has received from Fairfax Africa Investments and AfriSam, as well as the nonbinding expression of interest from LafargeHolcim, the company has now also sparked the interest of a third possible buyer, CRH. CRH has indicated that it is considering... 

Innovative civil engineering solution to social ills – Manuel

By: Megan van Wyngaardt     10th November 2017 Unless South Africa and its citizens deal with the issue of widespread corruption, the country will not be able to provide the “kinds of engineering services” that it ought to provide to people, former Finance Minister and Minister in the Presidency Trevor Manuel has said. Speaking at a South... 

South African economy faces major challenges, but turnaround not difficult task, says Kganyago

By: African News Agency      10th November 2017 The South African economy faces major challenges and economic growth was weak as unemployment remained high despite terms of trade being favourable and global recovery, however, it should not be a difficult task to turn things around, South African Reserve Bank (SARB) Governor Lesetja Kganyago... 

Cities urged to help cut global supply chain emissions

By: Reuters     8th November 2017 Cities should try to slash the planet-warming gases pumped out beyond their own boundaries in the production of the vast quantities of goods and services they consume, researchers said. Upstream emissions – those generated along the global production chain when cars, clothes or building materials... 

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

US withdraws from Extractive Industries Transparency Initiative

By: Reuters     2nd November 2017 The US has withdrawn as an implementing country from the Extractive Industries Transparency Initiative (EITI), an international initiative to account for revenues from extractive industries, including the global oil sector and mining. In a letter to the EITI board on Thursday, the Director of... 

Cooke underground closes but 1 640 Beatrix jobs saved – Sibanye

By: Martin Creamer     1st November 2017 The underground mining operations at the Cooke 1, 2 and 3 gold mining shafts on the West Rand have been placed on care and maintenance resulting in the retrenchment of 2 025 employees, in addition to the 1 350 who took voluntary separation packages, precious metals mining company... 

Palladium surge felt on Chicago streets as thieves plunder cars

By: Bloomberg     27th October 2017 Investors aren’t the only ones who have noticed palladium’s surge this year. To appreciate the impact of the recent jump in prices, one need look no further than the streets of Chicago. A police locale put out a bulletin on October 23 alerting residents to thefts of catalytic converters, vehicle... 

Brazil's Nexa Resources prices IPO at $16 a share

By: Reuters     27th October 2017 Brazilian mining company Nexa Resources, formerly Votorantim Metais Holding, has priced its initial public offering at $16 per share, the company said on Thursday. Nexa is offering 31-million shares and now expects to raise about $496-million, the company said in a statement. 

Third-quarter Sibanye-Stillwater operating profit up 41%

By: Martin Creamer     26th October 2017 The group operating profit of Sibanye-Stillwater in the three months to the end of September was 41% higher than last year’s third quarter and 5% up year-on-year. The Johannesburg- and New York-listed precious metals mining company, headed by CEO Neal Froneman, on Thursday reported group... 

Barrick Gold aims for final Tanzania deal by mid-2018

By: Reuters     26th October 2017 Barrick Gold Corp said on Wednesday it would work with the government of Tanzania to find a way for a gold export ban to be lifted on its Acacia Mining unit and was aiming for a final agreement in the first half of 2018. The comments came in an earnings report from Barrick, which showed slightly... 

One rare thing to watch for in US coal earnings: A profit

By: Bloomberg     24th October 2017 After years of bleeding cash and a painful string of bankruptcies, US coal miners are poised to do something rare – enjoy an earnings season. Boosted by higher global coal prices and a more conservative approach to mining, Peabody Energy kicks off the industry’s reporting cycle Wednesday and is... 

Arconic sinks on earnings miss; appoints former GE boss as CEO

By: Henry Lazenby     23rd October 2017 The New York-listed equity of alloy metals specialist Arconic dipped on Monday after the company reported disappointing third-quarter results. The New York-headquartered company revealed a headline profit of $132-million, or $0.25 a share, compared with $137-million in the comparable quarter of... 

Africa eyes senior Trump envoy visit for US policy hints

By: Reuters     23rd October 2017 US Ambassador to the United Nations (UN) Nikki Haley arrived in Ethiopia on Monday, among the first visits to Africa by a senior member of President Donald Trump's administration that diplomats hope will shed light on his plans to engage with the continent. While Africa is traditionally... 

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... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

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... 

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... 

America's miners are digging for hotter coals as old plants shut

By: Bloomberg     18th October 2017 Early next year, three massive coal-fired power plants in Texas will close for good. And their absence will be felt 1,000 miles away in the coal pits of Wyoming and Montana. There, in the energy-rich Powder River Basin, miners have for decades carved out coal that’s cheap but packs less heat than... 

Close Collaboration Minimises Shipping Disruptions in Port of Durban

     16th October 2017 Swift action by Transnet National Ports Authority, in collaboration with the South African Maritime Safety Authority (SAMSA) and African Marine Solutions, saw the successful delivery of a multi-vessel emergency operation in the Port of Durban during yesterday’s during inclement weather. By 18h30... 

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... 

World’s first electric truck in series production makes US debut

By: Irma Venter     13th October 2017 Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has launched the world’s first all-electric truck in series production, the Fuso eCanter, in the US. MFTBC is a member of the Daimler group. 

Cokal raises A$4m to get started on BBM Stage 2

By: Esmarie Swanepoel     11th October 2017 Coal producer Cokal has announced plans to raise A$4-million to assist in funding the Stage 2 development of its flagship Bumi Barito Mineral (BBM) project, in Indonesia, as Stage 1 production continues apace. The miner on Wednesday reported that Stage 1 of the BBM asset was achieving... 

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Bass bets Greek elections called within year, spurring rally 

By: Bloomberg     9th October 2017 Hedge fund manager Kyle Bass is betting that Greece will experience a dramatic political turnaround, with elections called within a year, that will spur a rally across the nation’s assets. Bass, founder of Dallas-based Hayman Capital Management, owns Greek bank stocks, which he said are trading... 

Exhibition marks firm’s international re-entry

By: Simone Liedtke     6th October 2017 Protective workwear manufacturer Sweet-Orr is set to exhibit at this year’s A+A Trade Show exhibition – which is an important trade forum for safety, security and health at work – from October 17 to 20 in Dusseldorf, Germany. 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

Blitz delivering ahead of schedule – Sibanye-Stillwater 

By: Martin Creamer     2nd October 2017 Production is under way three months ahead of schedule at Sibanye-Stillwater’s Blitz project in the US, where the completion of a secondary escape-way system concluded the final infrastructure required for the production to begin. An upside for Sibanye-Stillwater shareholders is the rapid ramping... 

LED best fit for energy-hungry smart cities

By: Schalk Burger     29th September 2017 Energy efficiency is critical to sustaining smart cities, especially as the levels of urbanisation are expected to increase, and light-emitting diode- (LED-) technologies will be a key component, says electronic multinational Philips Lighting Southern Africa GM Reggie Nxumalo. “As much as 78% of... 

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