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How Brics bank can change the way lenders do business

     2nd December 2016 In times of economic distress, a situation South Africa finds itself in at present, governments tend to invest heavily in infrastructure, which plays a central role in economic growth and poverty reduction by promoting greater productivity, increasing trade, reducing the cost of doing business... 

Opec in first joint oil cut with Russia since 2001, Saudis take 'big hit'

By: Reuters     1st December 2016 Opec agreed on Wednesday its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output. Non-Opec Russia will also join output reductions for the first time in 15 years to help the Organization of the... 

MMK’s environmental management system passes international audit

     1st December 2016 OJSC Magnitogorsk Iron and Steel Works announces that it is now one of the first companies in Russia to have its environmental management system (EMS) certified in line with the new version of the ISO 14001:2015 International Standard. This audit was carried out by TÜV NORD CERT (Germany), a... 

Russian nuclear company looks forward to result of nuclear debate in South Africa

By: Keith Campbell     29th November 2016 Russian State-owned nuclear group Rosatom has reaffirmed its respect for South Africa’s domestic policy debates and decisions. “We respect South African government processes and decisions,” Rosatom International regional VP: sub-Saharan Africa Viktor Polikarpov told Engineering News Online on... 

Filtration group focuses on product expansion

     25th November 2016 Filtration group CLARCOR Engine Mobile Group released over 250 filtration products in the first half of this year. 

German drive engineering group to expand activities in South Africa

By: Keith Campbell     25th November 2016 German drive engineering group SEW Eurodrive is planning to expand its assembly capacity in South Africa. The company operates 15 manufacturing plants in Germany, France, Brazil, the US and China, which ship components to assembly plants in 75 countries, including South Africa. “We invest in all... 

International Thermonuclear Experimental Reactor project, France

By: Sheila Barradas     25th November 2016 The International Thermonuclear Experimental Reactor (ITER) council has endorsed an updated schedule for the ITER project through first plasma and to deuterium-tritium operation.  

Global steel production rises 3.3% y/y in October

By: Anine Kilian     22nd November 2016 Global crude steel production, as reported by the 65 member countries of the World Steel Association (worldsteel), increased by 3.3% year-on-year to 136.5-million tons in October. South Africa’s crude steel output rose by 13.8% year-on-year to 534 000 t in October, while Egypt lifted its... 

PGM market faces 100 000 oz deficit in 2017 – WPIC

By: Ilan Solomons     22nd November 2016 Total global supply of platinum-group metals (PGMs) is forecast to decline by 2% to 7.7-million ounces in 2017 from 7.8-million ounces in 2016, mainly as a result of a decline in secondary supply as jewellery recycling in China returns to a more typical level after retailer destocking raised it... 

Uranium prices continue downward creep as buyers await bargains

By: Henry Lazenby     22nd November 2016 Uranium oxide prices remain under significant pressure as a significant contango persists and falling spot prices are pulling the long-term contract price lower. “There’s a price-off bias. Customers believe if they wait a bit longer they will realise a lower price,” Canadian uranium miner... 

BMI expects soft oil price recovery in 2017

By: Anine Kilian     18th November 2016 While the global outlook for oil is relatively bullish going into next year, there will be a soft oil price recovery, according to BMI oil and gas head Chris Haines. Speaking during a webinar session focused on the global oil and gas industry on Thursday, Haines noted that BMI expected to see... 

In bid to revive GTL refinery, PetroSA plans gas-to-condensate swing 

By: Terence Creamer     18th November 2016 South Africa’s embattled national oil company, PetroSA, has confirmed yet another, albeit smaller, loss for 2015/16, while revealing that it is planning to use more heavy condensate as a feedstock at its gas-to-liquids (GTL) refinery in Mossel Bay, as indigenous gas resources dwindle. The swing... 

Trade between South Africa, Russia should strengthen – DTI

By: Megan van Wyngaardt     17th November 2016 Russian companies are urged to increase their investment in South Africa by taking advantage of the country’s investment opportunities presented by the industrial reform of the local economy. Addressing the South Africa-Russia Business Council in Pretoria, Trade and Industry trade and investment... 

Decade of gold mine declines poised to spur deals, prices

By: Bloomberg     16th November 2016 Gold’s dwindling pipeline of new mines is poised to usher in a decade-long output slump, spurring prices and delivering a new impetus for dealmaking and industry consolidation, according to Goldcorp, the third-largest gold producer. Mine supply may fall about a third in the ten years to 2025,... 

Nordgold reports robust Q3 performance

By: Anine Kilian     14th November 2016 Russian gold miner Nordgold reported an 11% quarter-on-quarter increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $131.8-million in the third quarter ended September 30. Net profit was up 4% quarter-on-quarter, while all-in sustaining costs were $955/oz in the... 

Datacentrix Receives Geographical Region Award as Africa Commercial Partner of the year at Cisco Partner Summit 2016

     14th November 2016 Datacentrix, a provider of high performing and secure ICT solutions, today announced that it is has received a Cisco® Partner Summit Geographical Region award for Africa Commercial Partner of the Year. Cisco announced the winners during its annual partner conference taking place this week in San... 

IEA sees global market awash with oil in 2017 if no Opec cut

By: Reuters     10th November 2016 The oil market risks running another surplus in 2017 without an output cut from Opec, as producers around the globe ramp up supply and demand growth falters, the International Energy Agency said on Thursday. In its monthly oil market report, the group said global supply rose by 800,000 barrels... 

Trump victory to have considerable impact on local economy

By: Megan van Wyngaardt     9th November 2016 Following US president-elect Donald Trump’s “surprising” victory at the polls, Japan-based research group Nomura has said that the South African economy will be affected in the coming months on the back of a steeper US yield curve. Nomura noted that while rand volatility through this period... 

Oil stumbles as Trump stuns markets with White House win

By: Reuters     9th November 2016 Oil prices tumbled on Wednesday as vote Donald Trump stunned the world by winning the US presidential election, throwing global markets into turmoil in a result reminiscent of June's Brexit vote. Crude futures markets roared into action, with trading accelerating as Europe joined Asia, as Trump... 

IFC study finds climate pact helped open up $23tn in emerging market opportunities

By: Creamer Media Reporter      8th November 2016 A study released on Tuesday by the International Finance Corporation (IFC), a member of World Bank Group, shows that the historic global agreement on climate change adopted in Paris last year helped open up nearly $23-trillion in opportunities for climate-smart investments in emerging markets... 

Global thermal coal landscape to continue consolidation

By: Henry Lazenby     5th November 2016 Despite a strong rally in steam-making thermal coal this year, which saw prices more than doubling, the global steam coal mining landscape will face continued consolidation on the back of historically weak prices, years of producer losses and increasingly rigid environmental regulations, a... 

Coal surge leaves China grappling with runaway market it started

By: Bloomberg     4th November 2016 China’s drive to reduce overcapacity and streamline its coal industry has sent prices of the bulk commodity soaring. Efforts initially aimed at reversing a four-year collapse and help miners repay debts have pushed coal higher and faster than anyone anticipated. The fuel burned in power stations... 

Lithuania seeking trade partnership with South Africa

By: Keith Campbell     4th November 2016 The first ever trade mission to South Africa from Lithuania, although small, represented no fewer than six sectors of the latter country’s economy. The just-concluded mission is part of the small European country’s programme of diversifying its trade and investment partners and expanding into the... 

Modified wagon designs to increase volumes per trip

By: Simone Liedtke     4th November 2016 By modifying construction materials and wagon design, original-equipment manufacturer Galison Group believes that the lighter weight of a wagon will significantly reduce transport and production costs, by enabling customers to increase their production volumes per wagon per trip. 

Cameco sees strong Q3 despite new contract price lows

By: Henry Lazenby     3rd November 2016 Uranium miner Cameco has reported a strong third-quarter profit despite spot market and contract prices falling to new lows. As at the end of the September quarter, the average reported spot price was $23.00/lb, down $3.70/lb from the previous quarter. 

Terex|Finlay Crush San Antonio With Spectacular New Model Launches At Customer Open Day.

     28th October 2016 Terex|Finlay, recently hosted an Americas customer open day in San Antonio, Texas. In addition to US, South American and Canadian based visitors there was also an international flavor with customers and dealers in attendance from Ireland and Russia. The event and product demonstration were hosted... 

The US faces an ‘interesting’ election and SA should be prepared

By: Keith Campbell     28th October 2016 Well, we are definitely living in interesting times, at home and abroad. China, under the leadership of Xi Jinping, has adopted a nationalist assertiveness in the East and especially South China Seas. Russia, under President Vladimir Putin, has been even more assertive, bringing the Crimea under... 

Logistics Barometer highlights paradox of local industry 

By: Megan van Wyngaardt     27th October 2016 If South Africa invests more in beneficiating more of its raw materials, the logistics costs relative to gross domestic product (GDP) will drop, which will, in turn, contribute to job creation and grow the economy, Stellenbosch University (SU) logistics professor Jan Havenga said on Thursday. For... 

Trump victory could push gold to $1 500/oz, physical demand ‘pitiful’  

By: Ilan Solomons     27th October 2016 Physical demand for gold remained at “pitiful levels” for the third successive quarter, down 30% year-on-year in the three months to September 30, hindered by sharply higher prices in the aftermath of the British referendum to leave the UK (Brexit), reports markets analyst Thomson Reuters GFMS.... 

SAP opens new co-innovation lab to bolster relevant innovation 

By: Natasha Odendaal     26th October 2016 South Africa has become home to enterprise application software firm SAP’s seventh Co-Innovation Lab, or ‘Coil’, aimed at promoting innovative, locally relevant solutions through the unification of different ideas, tools and technology. The new lab, ceremoniously opened in Sandton, on Wednesday,... 

Largo on track for further quarterly ops improvement as vanadium market turns 

By: Henry Lazenby     23rd October 2016 A string of quarterly performance improvements by Canadian vanadium producer Largo Resources bodes well for third-quarter numbers at the Maracás Menchen mine, in Bahia state, Brazil, to follow the same record-setting trend. “The company is looking to beat previous numbers,” president and CEO Mark... 

China visit helps Duterte reap funding deals worth $24b 

By: Bloomberg     22nd October 2016 Philippine President Rodrigo Duterte will bring home $24-billion worth of funding and investment pledges from his four-day visit to China as both nations agreed to resume talks and explore areas of cooperation in the South China Sea. China will provide $9-billion in soft loans, including a... 

South Africa’s crude steel output drops nearly 3% in September

By: Natasha Odendaal     21st October 2016 South Africa’s crude steel production contracted 2.7% year-on-year to 430 000 t during September, with output for the first nine months of the year down some 8.5% year-on-year to 4.6-million tonnes. Global crude steel production by the aggregate 66 countries reporting to industry body, the World... 

National Nuclear Regulator building itself up to meet future challenges

By: Keith Campbell     21st October 2016 South Africa’s National Nuclear Regulator (NNR) is busy strengthening the country’s nuclear regulatory framework, in anticipation of the planned construction of a fleet of new nuclear power stations (NPPs). “As part of strengthening our capacity we recently launched a Centre for Nuclear Safety... 

SA’s science policy to be reviewed but global cooperation will remain

By: Keith Campbell     21st October 2016 South Africa is to review its policy and plans regarding science, technology and innovation. This was stated by Science and Technology Minister Naledi Pandor at the Fourth Ministerial Meeting of Brics (Brazil, Russia, India, China and South Africa) Ministers Responsible for Science and... 

South Africa eyed as potential African production hub for Datsun cars

By: Irma Venter     21st October 2016 South Africa is the ideal place to produce Datsun vehicles for Africa, “but not today”, says Datsun global head Vincent Cobee. Africa as a continent, with its rapidly growing middle class, is every consumer product company’s dream, he notes. However, it is also a highly complex market, made up of... 

Valuable partnership continued with new projects

By: Robyn Wilkinson     21st October 2016 Pressure vessels and piping fabrication specialists and construction fabrication consortium the Hydra Arc group of companies is continuing its long-term partnership with energy and chemicals company Sasol by assisting it with the construction of an air separation unit, as well as developing... 

South Africa's fighter programmes have developed the local aerospace sector

By: Keith Campbell     20th October 2016 In the 70 years since the South African Air Force (SAAF) first flew a jet fighter, the country has gone from importing complete aircraft with no technology transfer, to developing a highly sophisticated and capable local industry capable of adapting advanced aircraft to local conditions and... 

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