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Mozambique's ruby mining goes from ‘wild west’ to big business

By: Bloomberg     13th August 2018 Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43 000, returned to his family 900 miles away and built a house with the proceeds. Then the money ran out. 

Copper shorts exposed to supply shock as giant mine faces strike

By: Bloomberg     12th August 2018 Copper bears could get caught wrong-footed as a strike looms at the world’s biggest mine. In the US, hedge funds’ bearish bets outnumber bullish wagers by the most since 2016, latest government data show. The top brokers on the Shanghai Futures Exchange boosted their net-short position by more... 

Karoo’s MeerKAT radio telescope sets scene for pioneering scientific discovery

By: Dylan Slater     10th August 2018 The Karoo-based MeerKAT radio telescope, located about 90 km from Carnarvon, in the Northern Cape, was inaugurated on July 13, giving the public a glimpse into what was unveiled as the best of its kind and a true benchmark in terms of pioneering scientific cosmic discovery, says South African... 

Karoo’s MeerKAT radio telescope sets scene for pioneering scientific discovery

By: Dylan Slater     10th August 2018 The Karoo-based MeerKAT radio telescope, located about 90 km from Carnarvon, in the Northern Cape, was inaugurated on July 13, giving the public a glimpse into what was unveiled as the best of its kind and a true benchmark in terms of pioneering scientific cosmic discovery, says South African... 

Russia's shield against sanctions draws praise from Moody's

By: Bloomberg     7th August 2018 Russia is ready to absorb the blow from any new sanctions the US throws its way, according to Moody’s Investors Service. Measures to cut down holdings of Treasuries and reduce exposure to the dollar have made the economy less vulnerable to the threat of deeper penalties, Moody’s analyst Kristin... 

World's priciest precious metal set to blossom as shortage looms

By: Bloomberg     3rd August 2018 The world’s most expensive precious metal is set to get even pricier as a mining retreat in South Africa threatens a supply shortage. Rhodium – a byproduct of platinum mining that’s used in the chemical sector and by the auto industry in catalytic converters – has more than trebled in value since... 

C-suite moves rock lithium as industry expands in battery boom

By: Bloomberg     29th July 2018 Unexpected leadership changes within a day at the world’s two largest lithium producers underscore concerns over a lack of executive experience in the industry amid a nascent boom for the battery metal. On Wednesday, Albemarle announced the replacement of its lithium president John Mitchell, who... 

Barrick Gold cuts jobs and offices in decentralisation push

By: Bloomberg     26th July 2018 Barrick Gold, the world’s largest gold producer, cut jobs and closed offices in the second quarter as part of its strategy to decentraliSe operations. “We completed an extensive review of all positions sitting above operations, reallocating roles where appropriate, eliminating those no longer... 

Europe to become 'massive' buyer of US LNG, Trump says

By: Bloomberg     25th July 2018 Europe will build more terminals to import US liquefied natural gas, the head of the European Commission told US President Donald Trump during a meeting aimed at averting a transatlantic trade war. “They want very much to do that, and we have plenty of it,” Trump said, referring to the US shale... 

Divercity Urban Property Fund is set to rejuvenate South Africa’s cities with a solid business case that has plenty of social benefits too

25th July 2018 Divercity Urban Property Fund is a newly launched investment fund, backed by the experience of some of South Africa’s leading property specialists and with a R2bn seed portfolio of landmark property assets, that is set to renew and re-energise the country’s urban centres.  The names behind... 

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. 

Rising profits meet trade fears as commodity producers report

By: Bloomberg     24th July 2018 Investors will probably like most of what they see when energy, mining and farm-products companies report earnings for the most recent quarter. It’s the rest of the year they’re worried about. Commodity bellwethers including Exxon Mobil, Freeport-McMoRan, and Archer-Daniels-Midland are among a... 

Barrick exit raises power questions at biggest gold miner

By: Bloomberg     23rd July 2018 Kelvin Dushnisky’s departure as president of Barrick Gold raises the question of whether his replacement will get more, or less, power at the world’s largest gold producer under executive chairman John Thornton. Dushnisky, 54, is set to take over as CEO of Johannesburg-based AngloGold Ashanti as... 

Barrick Gold is the undisclosed bidder for Detour Gold

By: Bloomberg     23rd July 2018 Barrick Gold is the undisclosed gold miner that was asked to sign a confidentiality agreement alongside activist investor John Paulson to discuss potentially buying Detour Gold, according to people familiar with the matter. While Barrick’s level of interest in Detour is unclear, neither Paulson... 

Uranium tariffs threaten nuclear plants Trump is trying to save

By: Bloomberg     20th July 2018 The Trump administration’s decision to consider tariffs on uranium imports may raise the cost of fuel for nuclear reactors and undermine a separate initiative to shore up struggling electricity generators. The Commerce Department said Wednesday it will probe whether uranium imports “threaten to... 

SSR Mining reports mixed bag in June quarter

By: Esmarie Swanepoel     13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... 

Rio Tinto unveils large vivid pink Argyle diamond

By: Creamer Media Reporter      12th July 2018 Rio Tinto has unveiled the largest vivid pink diamond in the history of its Argyle pink diamonds tender, during a preview in Sydney. The 3.14 ct polished emerald cut diamond, known as The Argyle Alpha, is part of the line-up of 63 rare pink, red and violet diamonds in the 2018 Argyle pink... 

Hurting for buyers, US coal miners are learning to love India

By: Bloomberg     12th July 2018 The big bright spot for US coal miners is located halfway around the world. India almost tripled its imports of the rock from America in the first quarter from a year earlier, helping fuel its fast-growing economy and making it the largest foreign buyer of US coal, according to the US Energy... 

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

Buzzkill for US coal may come from weak yuan, not tariffs

By: Bloomberg     11th July 2018 Washington’s trade war with Beijing doesn’t pose much of a direct threat to US coal miners, since just a tiny percent of their sales go to China. But Appalachia may feel some heat from the sinking value of the Chinese yuan. A weaker Chinese currency makes it more expensive for the Asian giant to... 

Battery-skeptic funds wait out cobalt rally seen as fleeting

By: Bloomberg     9th July 2018 Call them battery skeptics. Bets on surging demand for electric vehicles have made cobalt and lithium hot commodities, but some investors say the outlook is leaving them cold. While prices have more than doubled in the past three years on worries over shortages of the metals used in batteries,... 

For State of American coal, look at West Virginia's mining stats

By: Bloomberg     6th July 2018 No place tells the story of America’s coal markets better than West Virginia right now. According to US government estimates released Thursday, mining in the northern half of the Mountain State – the part known for its bounty of thermal coal, used to fuel US power plants – slid 7% in the first... 

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Mining investors spooked as African dispute payments multiply

By: Bloomberg     28th June 2018 Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors. A $150-million payment by Glencore’s Katanga Mining to the Democratic Republic of Congo’s Gecamines earlier this month followed Freeport McMoRan’s separate... 

Top Dalradian shareholder supports Orion Mine takeover offer

By: Reuters     22nd June 2018 M&G Investment Management, the biggest shareholder in Dalradian Resources, said on Thursday it was supportive of a friendly cash takeover offer for Dalradian from private equity group Orion Mine Finance. The C$1.47 a share offer is fair, Jamie Horvat, director of global equities at M&G, told... 

China's taxing America's coal just as it was looking to buy more

By: Bloomberg     16th June 2018 Forgive US coal miners for feeling a bit of whiplash over China’s trade policies. Just two weeks ago, the Chinese government was said to be considering buying more American coal as part of an effort to narrow its trade deficit with the US. Now, in retaliation for President Donald Trump’s duties... 

Hedge funds pick the wrong time to go big on gold as prices drop

By: Bloomberg     16th June 2018 Hedge funds just mistimed their gold bets. Money managers as of Tuesday pushed their wagers on a bullion rally to the highest in seven weeks. The next day, Federal Reserve policy makers signaled more interest-rate increases this year than earlier projected. Gold ended up posting a weekly loss as... 

World's largest gold ETF is getting a cheaper little brother  

By: Bloomberg     14th June 2018 The price of gold is falling, at least for investors in exchange-traded funds. The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the US, including... 

Sibanye-Stillwater receives recognition for Stillwater acquisition

By: Marleny Arnoldi     8th June 2018 Precious metals miner Sibanye-Stillwater has received the ‘Global Resources and Commodities Mergers & Acquisitions Deal of the Year’ award under the large-capital segment at the tenth yearly M&A Atlas Awards gala function, for its $2.2-billion acquisition of Stillwater Mining in mid-2017.  

Iamgold reports 39% reserve, 16% output rise at Burkina Faso project

By: Marleny Arnoldi     6th June 2018 TSX- and New York-listed gold producer IAMGOLD has announced positive results from a prefeasibility study (PFS) for its Essakane heap leach project, in Burkina Faso.  

Murray Energy swaps debt on heels of Trump plan to boost coal

By: Bloomberg     5th June 2018 Murray Energy Corp, the coal miner led by Robert E Murray, said some of its debt holders agreed to refinance a chunk of the company’s bonds and loans as the Trump administration makes a new push to buoy the struggling fossil fuel industry. The deal cuts debt and gives Murray Energy more time to... 

On-The-Air (01/06/2018) 

By: Martin Creamer     1st June 2018 Former Energy Director-General Nelisiwe Magubane this week called for clean coal technology to be introduced to stave off litigation; Vigorous new investment in junior mining is scheduled to begin in the third quarter of this year and The positive role platinum can play to clean the world’s air... 

US Mint American Eagle gold coin sales rise sharply in May

By: Reuters     1st June 2018 Sales of American Eagle gold coins in May increased by 433% from April, and were the highest May sales since 2015, US data showed on Thursday. US Mint sales of American Eagle gold coins totaled 24 000 oz in May, up from 4 500 oz in April, the data showed. May figures were the highest since 2015,... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

By: Henry Lazenby     25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... 

Harmony poised to hit 1.5m oz target – CEO 

By: Martin Creamer     22nd May 2018 Gold mining company Harmony Gold is well on track to hit its target of 1.5-million ounces of gold a year. The two big steps needed to ensure this – the acquisition and recapitalisation of the Hidden Valley gold mine in Papua New Guinea (PNG), and the acquisition of the Moab Khotsong in South... 

Alrosa reopens office in world’s largest diamond jewellery market

By: Creamer Media Reporter      22nd May 2018 Russian diamond miner Alrosa has successfully held its first auction in two years in the US, following the recent reopening of its representative office in New York. The New York office was first opened in 2006, but has not operated since 2016. 

Paulson keeps stake in gold investments during Q1 – filing

By: Reuters     16th May 2018 New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management, Jana Partners and Caxton Corp all remained unexposed to the metal. The timing for Paulson appeared... 

A.B.E. Waterproofing For New Botswana Innovation Hub Building

15th May 2018 a.b.e. Construction Chemicals has supplied large volumes of polyurea coating for the waterproofing of an expansive roof of one of the new buildings of Botswana’s massive Innovation Hub campus in Gaborone. Noel Abendroth, a.b.e. High Performance Coatings Solutions Manager, says VIP QuickSeal PP... 

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