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Kazakhstan to produce nuclear fuel for China

By: Reuters     26th May 2017 Kazakhstan, the world's biggest uranium producer, will start producing nuclear fuel for Chinese power plants in 2019 through a joint venture set up by the two countries, a senior official at the Ulba Metallurgical Plant told Reuters. The joint venture, Ulba-FA, is now building on land at the Ulba... 

Russian State fund could invest in miner Polyus with China's Fosun – source

By: Reuters     26th May 2017 The State-backed Russian Direct Investment Fund (RDIF) and China's Fosun International could announce an investment in Russia's top gold producer Polyus in early June, a source familiar with the talks told Reuters. A consortium led by Fosun, one of China's most acquisitive conglomerates, has... 

Alrosa secures stake in Angola's largest diamond deposit

By: Reuters     24th May 2017 Russian miner Alrosa has bought a stake in Angola's Luaxe diamond deposit, it said on Tuesday, providing the company with access to a production base outside Russia. Alrosa and Endiama, the National Diamond Company of Angola, have signed a contract to secure 50.5% of what is Angola's largest... 

Despite production disruptions, copper saw February surplus of 150 000 t

By: Henry Lazenby     24th May 2017 Analysis of the latest data published by the International Copper Study Group (ICSG) showed global surplus copper output of 150 000 t in February, despite disruptions at massive key mines in Chile and Indonesia. The ICSG ascribed the surplus mainly to a sharp decline in Chinese apparent demand,... 

Opec heads towards supply cut extension as Saudi signals most on board

By: Reuters     22nd May 2017 Opec and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut. Saudi Arabia's energy minister said on Sunday that extending the supply cuts by a... 

Russia-focused Highland to explore two greenfield sites for gold

By: Creamer Media Reporter      22nd May 2017 Aim-listed Highland Gold has set aside $1-million for preliminary prospecting work at two greenfield sites adjacent to the existing licence areas for the Mnogovershinnoye mine (MNV), in Russia’s Far Eastern district. Potential mineralisation was previously identified in both of the licence areas,... 

SA to start renegotiating nuclear accords next month – Energy Minister 

By: African News Agency      19th May 2017 The South African government will start renegotiating its inter-governmental agreements on nuclear cooperation with five nations, Energy Minister Mmamoloko Kubayi said on Friday. This comes after the government decided last week not to appeal a high court ruling that effectively halted... 

Study finds that climate change threatens fynbos

By: News24Wire      19th May 2017 A study using data stretching back several decades has produced the first empirical evidence that increasingly hot, dry summers driven by climate change are having a negative effect on the Cape’s unique fynbos. The findings also raise questions about the effect this climate change impact could... 

Solikamsk thermal power station modernisation project, Russia

By: Sheila Barradas     19th May 2017 The project entails the delivery of a combined heat and power plant to the Solikamsk thermal power station. 

South Africa's rand falls nearly 3% on US political turmoil

By: Reuters     18th May 2017 South Africa's rand fell nearly 3% to the dollar on Thursday, as the political turmoil in the United States forced investors to flee riskier emerging currencies into safe-haven assets. Most emerging markets currencies fell as uncertainty mounted over US President Donald Trump's future following... 

Gold rises to two-week high amid Trump concerns

By: Reuters     17th May 2017 Gold hit a two-week high on Wednesday as Asian stocks slipped and the dollar fell amid political uncertainty after a source said US President Donald Trump asked the FBI to end a probe into his former security adviser. Spot gold climbed 0.6% to $1 243.31/oz by 0746 GMT, after earlier touching its... 

Hong Kong-listed IRC says could reopen Russia iron-ore mine

By: Reuters     17th May 2017 Commodity company IRC on Wednesday said it was considering restarting its 1.1-million tonnes per year iron-ore mine in the far east of Russia, the latest sign of revival in a sector shaking a years-long downturn. "Following the positive price movements in 2017 and the recent stabilisation in the... 

Deripaska's group bets on improving aluminium, Russian outlook

By: Reuters     16th May 2017 A deepening global shortage of aluminium and an improving outlook for Russian equities should make tycoon Oleg Deripaska's En+ company attractive to investors seeking exposure to emerging markets free of foreign exchange risks, its chief told Reuters. Chief Executive Maxim Sokov said En+ is... 

Botswana proposes debt for equity deal for troubled BCL Mine

By: Reuters     15th May 2017 Botswana's government has offered its State-owned BCL Mine to the Emirates Investment House (EIH) for a token price of $1 in a deal that will result in the Emirati firm taking over the mine's debts, minerals minister Sadique Kebonang said. Since being placed under provisional liquidation in... 

DoE won’t appeal nuclear ruling, but Kubayi leaves door open for new nuclear determination ahead of IRP update 

By: Terence Creamer     13th May 2017 Energy Minister Mmamoloko Kubayi announced on Saturday that government would not appeal the April 26 ruling of the Western Cape High Court, which declared the processes hitherto used to procure new nuclear capacity to be unconstitutional and illegal, along with three nuclear-related... 

It is platinum week, weaker, weakest as miners meet in London

By: Bloomberg     12th May 2017 It’s more than a decade since miners and traders have met at London’s annual Platinum Week with prices as low as they are right now. Soft prices, currency moves that have boosted mining costs and an uncertain demand outlook are weighing on the producers who’ll gather for cocktails under the... 

Renewed interest in delayed Uganda oil refinery plan

By: John Muchira     12th May 2017 The much-delayed crude oil refinery in Uganda is back on track after eight international companies expressed interest in implementing the $4-billion project. Four of the bidders have been shortlisted, and the Uganda government intends to select one of them before July, eight months after the... 

South African intellectual property offices seeking to stimulate innovation

By: Keith Campbell     12th May 2017 The Companies and Intellectual Property Commission (CIPC), an agency of the Department of Trade and Industry (DTI), has been holding talks with the Department of Higher Education about establishing a national Intellectual Property (IP), or Innovation, Academy, reported CIPC Executive Manager:... 

Norilsk Nickel lawsuit against Botswana undeterred by potential deal

By: Reuters     10th May 2017 Norilsk Nickel Africa will press ahead with a lawsuit against Botswana over a failed $271-million deal to sell a 50% stake in its Nkomati nickel mine even though the government is still trying to raise the funds, its CEO has told Reuters. "From our point of view the government failed to meet... 

China’s private investor gold surge seen as strong signal

By: Martin Creamer     10th May 2017 The 30% rise in China’s private investor gold demand in the first three months of this year is seen as “a very strong signal” by World Gold Council member and market relations head John Mulligan, who views this market as being one of good potential ongoing growth. The rise by China’s private... 

Palladium set to overtake platinum – GFMS

By: Martin Creamer     9th May 2017 The palladium price is poised to exceed the platinum price for the first time since 2001, Thomson Reuters said on Tuesday with the publication of its GFMS Platinum Group Metals Survey 2017. The price gap between platinum and palladium – which averaged just over $1 000/oz between 2007 and 2012 –... 

Colombia urges blood diamond-style controls for gold buyers

By: Bloomberg     9th May 2017 Colombia is calling for tougher controls over international gold purchases to curb the amount of illegally-mined metal entering mainstream markets, following similar moves by the diamond industry. “There’s a responsibility on the part of buyers to make certain what the origin of the gold is that... 

Analyst sees global diamond output rising 11.5% in 2017

By: Henry Lazenby     9th May 2017 Global mined diamond output in 2017 is expected to increase 11.5% year-over-year to 142.3-million carats, worth some $15.6-billion, which itself is a 9.9% increase in forecast total value produced, evaluation by independent diamond analyst Paul Zimnisky has found. The top ten largest mines in the... 

VW looks to halt losses in Americas, Russia by 2020

By: Reuters     8th May 2017 Volkswagen's core brand has pledged to end losses in the United States, Latin America and Russia by the end of the decade, counting on cost cuts and higher-margin new models as it tries to move beyond its diesel emissions crisis. Europe's largest automaker is pursuing efficiency measures to... 

Energy management to improve

By: Johane Turkstra     5th May 2017 Attending this year’s African Utility Week taking place from May 16 to 18, the National Cleaner Production Centre of South Africa (NCPC-SA) believes that the implementation of energy management systems (EnMSes) can be beneficial for energy producers in Africa. Referring to the Industrial Energy... 

New alliance increases reach of pneumatic vibrators

By: Victor Moolman     5th May 2017 Through bearings and power transmission distributor Bearings International (BI), pneumatic and electric vibrators manufacturer OLI has released a new range of pneumatically powered centrifugal vibrators to the South African market. 

New Development Bank invited to join Africa’s power push

By: Mia Breytenbach     5th May 2017 African Development Bank Group (AfDB) president Akinwumi Adesina has invited the New Development Bank (NDB) to support Light up and power Africa – the first of five top priorities of AfDB’s continental transformation agenda. Speaking at the second annual meeting of the NDB, in New Delhi, last... 

Report identifies key areas for growth in Africa

By: Robyn Wilkinson     5th May 2017 Well-balanced economies that have shown steady performance over an extended period present key opportunities for growth and development in Africa, while those with high political risk will continue to fail to instill confidence in foreign direct investors, says trade credit insurer Coface. 

US aluminium sector urges Britain, EU to unite against China

By: Reuters     3rd May 2017 Representatives of the US aluminium industry are speaking to EU counterparts and have written to British Prime Minister Theresa May urging action against what they says are "massive illegal subsidies" in China that threaten Western jobs. Trade lawyers and some governments accuse China of unfairly... 

Rosatom still keen to bid for South Africa's nuclear power fleet

By: Reuters     3rd May 2017 Russia's Rosatom said on Wednesday it was still committed to taking part in a transparent and competitive bidding process to build nuclear power plants in South Africa after a court blocked the plans last week. South Africa's Energy Minister said on Tuesday the government may appeal the judgment... 

Emirati firm eyes mine disputed by Botswana, Norilsk Nickel

By: Reuters     3rd May 2017 Botswana hopes to end a lawsuit with Russia's Norilsk Nickel by helping Emirates Investment House (EIH) buy a disputed 50% stake in the Nkomati nickel mine in South Africa, a government minister said on Tuesday. Botswana's State-run BCL Mine pulled out of a P3-billion ($281-million) deal to buy a... 

Kinross lifts Q1 earnings as metal prices rise

By: Henry Lazenby     3rd May 2017 Multinational miner Kinross Gold has posted slightly better first-quarter headline earnings as metals prices improved in the period ended March. Adjusted net earnings attributable to common shareholders were $23.4-million, or $0.02 a share, compared with $21.2-million, or $0.02 a share, for the... 

Illicit capital flows in developing world as high as $3.5tn in 2014 – study

By: Reuters     1st May 2017 Illicit capital flows into and out of developing economies ranged from $2-trillion to $3.5-trillion in 2014, with Africa the region most vulnerable to the flight of capital needed for investment and other purposes, according to a new study. Released on Monday by Washington-based think-tank... 

Analysts paint sparkling picture of coloured gemstone market

By: Ilan Solomons     28th April 2017 The shift from small-scale artisanal mining to larger mechanised mining, owing to the increasing involvement of larger mining companies and greater formalisation of the sector, is expected to increase the distribution channel of the coloured gemstone industry, which will continue to consolidate... 

Opinion: Court’s ‘clean slate’ nuclear directive a big opportunity for new Energy Minister 

By: Terence Creamer     26th April 2017 Having been effectively directed by the Western Cape High Court to “start with a clean slate” when approaching the controversial issue of nuclear procurement, South Africa’s new Energy Minister Mmamoloko Kubayi has some big calls to make. In the April 26 judgment signed off by justices Lee... 

South African intellectual property agency seeking to stimulate innovation

By: Keith Campbell     26th April 2017 The Companies and Intellectual Property Commission (CIPC), an agency of the Department of Trade and Industry (DTI), has been holding talks with the Department of Higher Education about establishing a national Intellectual Property (IP), or Innovation, Academy, reported CIPC Executive Manager:... 

Russian mining tycoons eyeing return to London's stock market

By: Bloomberg     26th April 2017 For three years, Russian companies retreated from the London stock market. Now, a pair of oil and mining-billionaires is hoping to break the drought. En+ Group, owned by aluminium magnate Oleg Deripaska, and Polyus PJSC, a gold producer controlled by the family of Suleiman Kerimov, are planning... 

Sibanye’s Stillwater buy wins strong shareholder support

By: Martin Creamer     25th April 2017 Shareholders have voted overwhelmingly in favour of Sibanye acquiring Stillwater, the US platinum group metals (PGMs) company. The number of shares that voted in favour of the proposed deal made up 83% of Sibanye’s total issued share capital. 

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