R/€ = 17.56Change: -0.19
R/$ = 15.77Change: -0.24
Au 1209.11 $/ozChange: -4.88
Pt 973.50 $/ozChange: -7.50


Transparency equals bankability, World Diamond Congress hears

By: Martin Creamer     19th May 2016 The large number of bad-debt bankruptcies in the diamond industry in recent years was aired on the second day of the 37th World Diamond Congress in Dubai, where much emphasis was again placed on the critical need for financial transparency. De Beers commercial development head Howard Davies drew... 

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Deal struck for disposal of SABMiller’s Panamanian business

By: Tracy Hancock     13th May 2016 Multinational brewing and beverage company Anheuser-Busch InBev (AB InBev) has agreed to transfer JSE-listed SABMiller’s Panamanian business to Latin-American brewing company Ambev, should its merger with the South African beer and soft drinks company be successful. In exchange, Ambev agreed to... 

G-20 threatens penalties on tax havens

By: Bloomberg     29th April 2016 Group of 20 (G-20) economies threatened to penalise havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion. The G-20 will consider “defensive measures” against financial centers and jurisdictions that don’t commit... 

Costa Norte liquefied natural gas project, Panama

By: Sheila Barradas     22nd April 2016 The project comprises the development, construction, operation and maintenance of an integrated gas-to-power project on Telfers Island. 

Urgent probe for Zimplats after Panama Papers leak

By: News24Wire      6th April 2016 Impala Platinum and government officials in Zimbabwe will probe the alleged involvement of the company's Zimplats unit after leaked papers showed it used an offshore company to pay salaries of management in Zimbabwe. Fin24 reported on Monday that Zimplats had been implicated in the Panama Papers.... 

Call for action against Khulubuse Zuma after he is named in Panama Papers

By: African News Agency      4th April 2016 Solidarity on Monday called on liquidators of the failed mining company Aurora to investigate Khulubuse Zuma after his name was mentioned in the Panama Papers, an unprecedented leak of 11.5-million files from the database of Mossack Fonseca, a law firm specialising in offshore business. Zuma,... 

Panama Canal expansion project

By: Sheila Barradas     18th March 2016 The testing of the Atlantic-facing Agua Clara locks’ water-saving basins has been completed. 

World Canals Conference speakers & sponsors announced

     15th March 2016 The 2016 World Canals Conference is shaping up to be the best yet, with an array of world-renowned speakers and high-profile sponsors signing up to take part in the prestigious event in Inverness this September. Hosted on the banks of the majestic Caledonian Canal, the conference will see... 

First Quantum rings the alarm bell

By: Henry Lazenby     20th February 2016 Base metals miner First Quantum Minerals on Thursday night rang the alarm bell that it might be at risk of breaching certain debt financing covenants this year, placing the company’s ability to continue operating as a going concern in jeopardy. The Vancouver-based company had been dealing with a... 

DMCC Executive Chairman Ahmed Bin Sulayem receives honorary membership during visit to World Jewelry Hub

     9th February 2016 Ahmed Bin Sulayem, Executive Chairman, DMCC, has been presented with Honorary Membership of the World Jewelry Hub its Chairman Eli Izhakoff in Panama City this week. Ahmed Bin Sulayem, also the Chairman of the Kimberley Process, visited Panama as a guest of the WJH. During the visit, he was... 

Diamante strikes royalty deal to restart Molejon ops

By: Henry Lazenby     4th February 2016 US minerals explorer Diamante Minerals has concluded negotiations with Molejon mine owner Petaquilla Gold for royalties on gold produced at the Panama-based mine. The explorer agreed to a 12.5% royalty for 12 months on 1 000 a month, and a further 5% royalty on every ounce produced above that... 

Panama Canal expansion project

By: Sheila Barradas     22nd January 2016 The Panama Canal is another step closer to opening this year. 

Alstom secures €6.3bn of orders in nine months to Dec

By: Natalie Greve     14th January 2016 French rail multinational Alstom secured €2.34-billion worth of orders in the quarter ended December 31, 2015, compared with the €1.61-billion of orders secured in the three months to December 2014. Major commercial successes for the quarter under review included the provision of regional trains... 

LaLiga actively participates in Paris at the meeting that has resulted in the creation of this organization, which will start work in January 2016

     2nd December 2015 Throughout the day on Tuesday, December 1, the best football competitions in the world held the second meeting of the World Leagues Forum in Paris (France) with the aim of exchanging positions, reach points of agreement, to maintain its unity and increase their influence within the world football... 

Panama metro network – Line 2 project

By: Sheila Barradas     23rd October 2015 The project involves the supply of an integrated system to equip metro Line 2, in Panama. 

Ingeteam signs four new PV operation and maintenance contracts

     14th October 2015 These contracts enable Ingeteam to gain a foothold in the PV operation and maintenance market in Honduras and Uruguay. Ingeteam has also won new contracts in the United Kingdom and Panama. Ingeteam is now a leader in Operation and Maintenance services, given the fact that the company currently... 

Panama natural gas-fired generation plant

By: Sheila Barradas     9th October 2015 The project includes the construction of a slow-emission, 350 MW combined-cycle natural gas-fired plant. 

Sentinel development on track, as First Quantum takes steps to maintain financial stability

     6th October 2015 A stabilising electricity supply situation in Zambia is leaving dual-listed First Quantum Minerals hopeful that its Sentinel project will ramp up to commercial production by the end of this year. The project’s ramp-up had been affected by the limited power supply available in the country, as... 

Panama Canal expansion project

By: Sheila Barradas     2nd October 2015 The expansion project has reached 93% completion. 

Omnia appoints new explosives division MD

By: Sashnee Moodley     18th September 2015 JSE-listed chemicals group Omnia has appointed Joseph Keenan the new MD of its explosives division, Bulk Mining Explosives. Group CEO Rod Humphris said in a statement to shareholders on Friday that Keenan was an accomplished international executive with more than 20 years of global experience in... 

Hidrostank Access Chambers In Panama Canal - Final Phase Of The Works

     2nd September 2015 Last June the expansion works of Panama Canal entered its final phase with the start of filling the new locks, both the Atlantic and Pacific sectors. The full flood and testing of each lock can take about three to four months. HIDROSTANK has supplied to the awarded joint venture, Grupo Unidos por... 

Panama Canal expansion project

By: Sheila Barradas     26th June 2015 The canal expansion programme has begun filling the Cocolis’ locks, on the Pacific side, following a similar and successful endeavor on the Atlantic side earlier this month. 

Panama Canal expansion project

By: Sheila Barradas     19th June 2015 The Autoridad del Canal de Panamá has begun to fill the lower chamber of its new Atlantic locks.  

Hidrostank Access Chambers In Panama Canal

     22nd April 2015 HIDROSTANK has supplied innovative reinforced polypropylene chambers to the expansion works of the Panama CANAL, one of the great engineering feats of the XXI century. In August 2009, the Panama Canal Authority awarded the design and construction of the third set of locks in the Panama Canal to... 

SITECH Technology Dealer Established in Panama to Serve Heavy Civil Construction Contractors

     7th April 2015 Trimble announced today that a SITECH® Technology Dealer has been established in Panama. SITECH Panama joins the premier network of SITECH dealerships—the first fully dedicated global distribution network offering the most comprehensive portfolio of construction technology systems available to... 

Terminal operators vie for Mombasa port contract

By: John Muchira     6th March 2015 Top terminal operators are battling for a contract to manage and operate a new terminal that is nearing completion at the Port of Mombasa, in Kenya. According to the Kenya Ports Authority (KPA), 19 international companies have presented their bids for a contract to managed and operate the second... 

On back of strong 2014, First Quantum disappoints with 2015 outlook

By: Henry Lazenby     27th January 2015 Base metals miner First Quantum Minerals late on Monday reported record copper output during 2014, noting that the current year would see its Zambia operations benefit from increased synergies as its new smelter was being commissioned and its new Sentinel mine started first production during the... 

Kenya seeks operator for second port of Mombasa container terminal

By: John Muchira     23rd January 2015 The Kenya Ports Authority (KPA) intends to hire an independent operator to take over the management of the second container terminal that is under construction at the Port of Mombasa. To increase efficiency, the KPA has already floated an international tender for the investor, who will  operate... 

Penonome wind power project, Panama

By: Sheila Barradas     31st October 2014 The Penonome project is expected to be the largest wind power project in the Central America and Caribbean regions. 

First Quantum stocks drop on news of strike impact

By: Henry Lazenby     30th September 2014 The TSX-listed stock of base metals miner First Quantum Minerals on Tuesday fell by as much as C$0.51 a share after the company revealed that a strike at its Guelb Moghrein copper/gold mine, in Mauritania, had negatively impacted on the operation’s expected output by about 2 800 t of copper and 3... 

Panama Canal expansion project

     19th September 2014 The third shipment of four gates for the new locks of the Panama Canal expansion project has arrived at the Atlantic entrance of the waterway on September 7. 

Panama Canal expansion project

By: Sheila Barradas     15th August 2014 The Panama Canal expansion has reached another important milestone with the transfer of the first gates to the new locks complex on the Atlantic side. 

Safeguard duties imposed on frozen potato chips

By: Callie Lombard     8th August 2014 Frozen potato chips safeguard On July 25, the South African Revenue Service (Sars) imposed a final (definitive) safeguard on frozen potato chips (or French fries), classifiable under tariff subheading 2004.10.20, through two Government Gazette notices. The safeguard of 40.92% was imposed from... 

Interocean canal project, Nicaragua

By: Sheila Barradas     1st August 2014 The project involves the construction of a canal from the mouth of the Brito river on the Pacific side to the Punta Gorda river on the Caribbean side. 

First Quantum Minerals temporarily halts work at Cobre Panama

By: Henry Lazenby     27th June 2014 Base metals miner First Quantum Minerals reported late on Thursday that it had temporarily halted construction activity at its $6.5-billion Cobre Panama copper mine owing to an illegal work stoppage by some members of its construction workforce. The illegal stoppage was related to implementing a... 

First Quantum to buy Lumina Copper for about C$470m

By: Henry Lazenby     17th June 2014 Canadian base metals miner First Quantum on Tuesday announced that it would buy copper explorer Lumina Copper for about C$470-million in a cash and scrip deal that would give it control of the Taca Taca copper/gold/molybdenum project, in Argentina. The proposed transaction to buy Lumina is... 

Petaquilla lifts burden off assets and production profile

By: Henry Lazenby     27th May 2014 Gold miner Petaquilla Minerals has completed an early payout of the existing gold and silver prepayment agreements, as well as a convertible loan previously negotiated with Deutsche Bank, which as a result fully released all existing encumbrances on the company's assets. Vancouver-based... 

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