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Bilateral nuclear agreement signed between Russians and Rwandans

By: Rebecca Campbell     Updated 5 hours ago Russian State-owned nuclear group Rosatom has announced that it has signed a memorandum of understanding (MoU) with the Ministry of Infrastructure of Rwanda. The MoU covers cooperation in the peaceful uses of nuclear energy. This is the first agreement between the two countries regarding the... 

China continues to encourage foreign mining investment

By: Rebecca Campbell     22nd June 2018 In early April the People’s Republic of China established a new Ministry, that of Natural Resources (MNR). The creation of the new Ministry was part of a programme to restructure the country’s State Council (Cabinet). The MNR took over all the responsibilities of the previous (and now... 

Russian Jan-March gold output at 51.6 t

By: Reuters     21st June 2018 Russia produced 51.6 t of gold in the first three months of 2018, up from 50.9 t in the same period in 2017, the Finance Ministry said on Thursday. Production for the period included 39.78 t of mined gold compared with 38.93 t a year ago, the Ministry said. 

Petropavlovsk's biggest shareholder outlines his case for change

By: Reuters     21st June 2018 Russian miner Petropavlovsk's largest shareholder, who is calling for an overhaul of the board, has written to fellow shareholders, setting out plans to sell the company's stake in an iron ore unit and to draw up deal targets in the gold sector. The company holds its annual general meeting in... 

Mondi says completes acquisition of Egypt's NPP in Egypt

By: African News Agency      21st June 2018 Paper and packing company Mondi said late on Wednesday it had completed the acquisition of Egypt's National Company for Paper Products (NPP) for the equivalent of €24-million on a debt and cash free basis. NPP, which operates an industrial bags plant in Giza near Cairo, will be integrated into... 

History to be more equal than other subjects?

By: Martin Zhuwakinyu     15th June 2018 Some associate professor was an in-studio guest on one of our television channels the other night. To mangle a famous quotation in George Orwell’s Nineteen Eighty-Four, he was on about why history should be more equal than other subjects at high school level in South Africa. He and other dons who... 

Russian federal agencies give go-ahead for second Eurasia Mining project

By: Marleny Arnoldi     13th June 2018 Aim-listed platinum group metals (PGM) and gold miner Eurasia Mining has received approval from the Russian Federal Securities Board and the Ministry of Defence for its Monchetundra project, in the Kola Peninsula.  

Angola's top diamond mine says underpricing has cost it almost $500m

By: Reuters     12th June 2018 Angola's Catoca, the world's fifth largest diamond mine, estimates it lost $464-million over the past six years due to a government-imposed marketing system that obliged it to sell production below international prices, a company presentation seen by Reuters showed. The figure was presented... 

Companies use Securex, A-OSH to showcase products and services

By: Tasneem Bulbulia     8th June 2018 The Securex exhibition and its co-located A-OSH Expo successfully executed their twenty-fifth and eighth editions respectively, with several companies using the events as a launchpad for new products and services. Securex is Africa’s leading security and fire-protection trade exhibition, while... 

Study makes case for Africa nuclear roll-out, but concern persists

By: John Muchira     8th June 2018 Plans by some countries in sub-Saharan Africa to incorporate nuclear energy in electricity generation mix are feasible, despite the colossal challenges associated with nuclear plants, a new study has found. While opinion is deeply divided on whether sub-Sahara Africa is ready for nuclear energy,... 

Open letter to Safa president

By: Martin Zhuwakinyu     8th June 2018 Dear Dr Danny Jordaan Congratulations on your recent election for another term at the pinnacle of South African football administration. If there had been any doubt that you are a darling of our football-loving nation, it would have evaporated in the wake of your landslide victory – 234 out of... 

Russian diamond miner announces auctions and award of high sustainability ranking

By: Rebecca Campbell     7th June 2018 Russian diamond mining major Alrosa announced on Thursday that it would hold auctions in Hong Kong and Vladivostok for large rough diamonds. The Hong Kong auction will start on June 13 and will run until June 27. The Vladivostok auction would start on June 18 and conclude on June 29. In both... 

Platinum price set for recovery this year – survey

By: Anine Kilian     7th June 2018 The platinum price is expected to exceed $1 000/oz in the second half of this year. “We expect the platinum price will start a recovery this year, albeit a gradual one. This is predicated on a small deficit this year, of nearly 300 000 oz, fuelled by a contraction in supply, chiefly from the... 

Russia's Polyus to decide on Sukhoi Log gold mine by 2020/21

By: Reuters     7th June 2018 Russian gold miner Polyus said on Thursday it planned to make a final investment decision on Sukhoi Log, one of the world's largest untapped gold deposits, by 2020/21, when it would also begin capital spending on construction. Should a positive investment decision be made, production would start... 

Brand South Africa taking investor temperature ahead of investment summit

By: Terence Creamer     6th June 2018 Brand South Africa has begun consultations with foreign investors and diplomats as part of preparations for the investment conference, which President Cyril Ramaphosa will convene later this year. Ramaphosa has set a target of attracting $100-billion-worth of direct investment over the coming... 

Angola to change diamond sector to attract investment – Lourenço

By: Reuters     6th June 2018 Angola will make changes to how its secretive diamond industry works in order to attract more investment, increase production and secure higher government revenue, President João Lourenço said on a visit to Antwerp, Belgium. Africa's second-largest crude producer is trying to open up and... 

Necsa has suspended radioisotope production because of a non-risk technical problem 

By: Rebecca Campbell     6th June 2018 The South African Nuclear Energy Corporation (Necsa) announced on Tuesday that there had been a “non-risk” incident at its NTP Radioisotopes subsidiary. This incident resulted in the activation of safety protocols, which temporarily halted the production of medical radioisotopes. At no time was... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

SA no longer has agreement with Russians on nuclear, says Radebe

By: News24Wire      4th June 2018 Minister of Energy Jeff Radebe told eNCA on Sunday evening that South Africa no longer had an agreement with the Russians to procure for the development of nuclear energy for the country. Speaking to journalist and political analyst Karima Brown on the news network’s show The Fix, Radebe said he... 

Kinross Gold celebrates 25-year TSX anniversary

By: Creamer Media Reporter      2nd June 2018 Canada-based senior gold mining company Kinross Gold on Friday celebrated its twenty-fifth year as a listed company on the Toronto Stock Exchange. The senior gold miner, which has mines in the US, Brazil, Russia, Mauritania, Chile and Ghana, started trading on the TSX on June 3, 1993. 

China remains dominant coal consumer, producer

By: Natasha Odendaal     1st June 2018 China, India and the US will remain the largest consumers of thermal coal, while China, India and Russia will remain the largest consumers of coking coal during the period to 2027, a new report by BMI Research shows. In its ‘Industry trend analysis: global forecast to 2027’ report, BMI forecasts... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Russian January gold output at 15.67 t

By: Reuters     31st May 2018 Russia produced 15.67 t of gold in January, up from 14.16 t in the same period in 2017, the Finance Ministry said on Thursday. Production for the period included 12.26 t of mined gold compared with 10.58 t a year ago, the Ministry said. 

Ukrainian workers sweat over fate of Deripaska's alumina plant

By: Reuters     31st May 2018 Ukraine's decision to put sanctions on one of Russia's wealthiest tycoons worries Vira Dudnyk. A driver at an alumina plant in southern Ukraine, she fears a tug-of-war between Kiev and Moscow may leave her jobless and on the streets. "We are afraid if the plant is closed, what are we left with,... 

Dundas vying to be the next large-scale Greenland mine

By: Mariaan Webb     31st May 2018 London- and Frankfurt-listed Bluejay Mining is set to bring into production the world’s highest-grade ilmenite project in 2019, feeding into the Greenland government’s target of opening five large-scale mines in the near term. The first of these five mines, Aappaluttoq, opened last year and is... 

Polyus reports sharp decrease in Q1 profit

By: Mariaan Webb     30th May 2018 Russia’s largest gold miner, Polyus, on Wednesday reported a 51% drop in first-quarter profit, reflecting the impact of non-cash items. Profit fell to $244-million in the March 2018 quarter, down from $499-million in the same period of 2017, and also lower than the $267-million reported in the... 

Brics’ New Development Bank approves six project loans totalling $1.6bn

By: Marleny Arnoldi     29th May 2018 Multilateral development bank, the New Development Bank (NDB), on Monday held its third yearly meeting of the NDB board of governors (BoG) and the fourteenth meeting of the NDB board of directors (BoD), in Shanghai, China.  

South Africa struggling to improve competitiveness – survey 

By: African News Agency      28th May 2018 The Institute of Management Development (IMD) said on Monday that South Africa had failed to improve on its overall competitiveness, with low economic growth, unemployment and a steep public debt interest payments posing serious bottlenecks for the country's growth.  In its latest World... 

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,... 

Russian diamond producer Alrosa says H1 sales to exceed initial expectations

By: Reuters     25th May 2018 Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength. Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov... 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

By: Reuters     25th May 2018 Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

Miners halt dividend payouts, stay-in-business capex as price languishes in the doldrums

By: Natasha Odendaal     25th May 2018 The once burgeoning platinum industry that in the recent past benefited from a years-long upswing in commodity demand and prices is now failing to recover from the global economic depression that heralded the end of its glory days and shut many smaller operators down. In the wake of the 2008... 

Polyus sees 2018 production at upper end of guided range

By: Reuters     24th May 2018 Polyus, Russia's largest gold producer, said on Thursday its 2018 production was likely to be at the upper end of the forecast range of 2.375-million to 2.425-million troy ounces. CEO Pavel Grachev said on the sidelines of the St Petersburg economic forum that 2018 capital expenditure would be... 

India takes US steel tariffs complaint to the WTO

By: Reuters     23rd May 2018 India has launched a complaint against the US to challenge President Donald Trump's tariffs on steel and aluminium, a filing published by the World Trade Organization (WTO) showed on Wednesday. Indian officials told Reuters last month that their government would open a WTO dispute if the... 

Eurasia’s West Kytlim fully operational

By: Creamer Media Reporter      23rd May 2018 The West Kytlim alluvial platinum mine, in the Ural mountains of Russia, is fully operational and is producing an average of 1.8 kg a day of raw platinum, Aim-listed Eurasia Mining reported on Wednesday. In the first two weeks of production, the mine produced 11.8 kg at a suggested average grade... 

Nordgold reports lower Q1 production, Gross mine construction on track

By: Marleny Arnoldi     23rd May 2018 Aim-listed gold miner Nordgold produced 225 100 gold-equivalent ounces in the first quarter of this year – a 6% year-on-year and 10% quarter-on-quarter decrease.  

Japan, Russia, Turkey bring potential US tariff retaliation to $3.5bn

By: Reuters     22nd May 2018 Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminium, the World Trade Organization said on Tuesday, bringing the total US tariff bill to around $3.5-billion annually. The three countries detailed their compensation claims in... 

Allied Steelrode, seven others join task force to lobby for support of downstream steel industry

By: Marleny Arnoldi     21st May 2018 Steel supplier and processing company Allied Steelrode has affirmed its commitment to an industry representative group the CEO Task Force, which will aid in regenerating the country’s steel sector, through mobilising the downstream industry – which suffers the most when challenges arise in the... 

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