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Venezuela ordered to pay $2.17bn to Russian junior for 2011 project expropriation

By: Henry Lazenby     23rd August 2016 The government of the Bolivarian Republic of Venezuela has been ordered to pay a Russian-owned junior mining company nearly $2.2-billion in compensation and interest for illegally expropriating the company’s assets without compensation in 2011. Following the news, Rusoro Mining’s TSX-V-listed... 

Govt, AMSA reach accord on steel price basket

By: Kim Cloete     23rd August 2016 Steel producer ArcelorMittal South Africa (AMSA) and government have agreed to remove import parity pricing with immediate effect in a bid to boost South Africa’s steel industry. The local price for flat steel products will be based on an import-weighted basket. 

High-Performance Material Handling Technologies on Display at MINExpo 2016

     19th August 2016 A broad range of advanced technologies for safer and more productive bulk handling will be on display at MINExpo INTERNATIONAL® 2016, as Martin Engineering unveils new and improved component designs for conveyor belt cleaning, dust management, load containment, risk reduction and improved... 

Joemat-Pettersson to be quizzed on missing nuclear documents

By: News24Wire      19th August 2016 Energy Minister Tina Joemat-Pettersson will be asked in Parliament next week to account for missing documents in a court case regarding the nuclear energy programme. That is according to Democratic Alliance (DA) MP and shadow energy minister Gordon Mackay on Thursday, who sits on the energy... 

Akademik Lomonosov floating nuclear power plant project, Russia

By: Sheila Barradas     19th August 2016 Rosenergoatom is building the first floating nuclear power plant project, Russia. 

Packaging manufacturer joins renewable-energy campaign

     19th August 2016 Food processing and packaging solutions provider Tetra Pak has joined the RE100 renewable-energy campaign, committing to increase its use of renewable electricity from 20% today, to 100% across all global operations by 2030. The announcement was made at the Clean Energy Ministerial (CEM) forum​... 

Russian group is first with new-generation nuclear reactor

By: Keith Campbell     19th August 2016 Russian State-owned nuclear energy group Rosatom has announced that it has started operational trials with the world's first Generation III+ nuclear reactor. This is the group's VVER-1200 (AES-2006), designed and developed by its subsidiary OKB Gidropress. It puts the Russian group ahead of its... 

Metair’s auto parts business struggles; no immediate fears over failed Turkey coup

By: Irma Venter     18th August 2016 A struggling automotive components business saw operating profit at JSE-listed Metair drop 25%, to R260-million, for the six months ended June 30, compared with the same period last year. Revenue at the energy storage solutions and automotive components manufacturer and distributor increased 14%... 

AECOM offers total lifecycle solutions for oil, gas and chemical sectors

     18th August 2016 Clients in the oil, gas and chemicals sectors are on the lookout for smarter, more efficient ways to produce, process and deliver products to market, as well as assistance with environmental and sustainability considerations. AECOM is able to offer comprehensive services to these sectors over the... 

Russia’s fertilizer tycoon says potash glut may last a decade

By: Bloomberg     18th August 2016 Russian billionaire Andrey Melnichenko, whose fertilizer company is investing more than $6-billion in potash mining, said it could take at least a decade for the potash market to work off the excess because of the past “disruptive” actions by the largest sellers. Potash prices have collapsed... 

Aspire starts feasibility study for Mongolia rail project

By: Mariaan Webb     18th August 2016 Mongolian metallurgical coal explorer and infrastructure company Aspire Mining has started the first stage of the rail feasibility study for the Erdenet to Ovoot railway, which is critical to the development of the Ovoot coking coal project. The railway forms part of the new Northern Rail... 

Barloworld celebrates 75 years on JSE

By: Megan van Wyngaardt     16th August 2016 Industrial brand management company Barloworld on Tuesday celebrated its seventy-fifth year on the Johannesburg Stock Exchange (JSE), and is one of only nine companies to have achieved this. CEO Clive Thomson told Engineering News Online on the sidelines of the 75-year celebration that the... 

Alkane jumps on Dubbo zirconium marketing news

By: Mariaan Webb     16th August 2016 Shares in ASX-listed Alkane Resources jumped 23% on Tuesday after the multi-commodity mining company announced it had signed an exclusive worldwide marketing, sales and distribution agreement for all zirconium produced by the Dubbo zirconia project, in New South Wales. Alkane, which fetched... 

Gigaba challenges Western media perspectives on Brics 

By: News24Wire      11th August 2016 For developing countries to achieve meaningful development, they must rely on their own resources to achieve their objectives. The Brics Forum and the introduction of the New Development Bank (NDB) are contributing to this independent development, according to Home Affairs Minister Malusi Gigaba.... 

Wacker Neuson cautious for H2 despite of a strong second quarter

     11th August 2016 In the second quarter of 2016, leading international light and compact equipment manufacturer the Wacker Neuson Group almost equaled its record revenue from the prior-year quarter. In light of increased market uncertainties and volatility for H2, the Group revised its forecast for 2016. Revenue... 

Mining expert’s expulsion raises questions about Hong Kong firms

By: Bloomberg     10th August 2016 Mining evaluator Herman Tso Chi-ming has a degree in civil engineering, an MBA, a Ph.D. in applied geology, another in civil engineering and a third on the way. It’s a resume that helped him win contracts to appraise mines for at least 15 public Hong Kong companies, according to a Bloomberg News... 

South Africa slips down manufacturing competitiveness ranking

By: African News Agency      10th August 2016 South Africa has dropped down the global ranking of most competitive manufacturing regions, according to data released by Deloitte on Wednesday. While the country is still seen as the most competitive manufacturing country in Africa, it has dropped three places globally since 2013 to come in at... 

India expects first uranium shipment from Australia by March

By: Bloomberg     10th August 2016 India is in talks to get its first shipment of uranium from Australia by March, highlighting the south Asian nation’s push to secure supplies of a key component of its clean-energy strategy. India is seeking to buy as much as 1 500 t of the atomic fuel over five years and expects its first... 

Energy poverty unemployment and growth 

     5th August 2016 The recent discussion about energy and electricity is one of the most important debates South Africa can have.   One of the fundamental objective of South Africa is the necessity to address urgently inequality unemployment and poverty and this objective cannot be achieved by redistribution of... 

Hambro sees ‘very good fortunes’ for iron-ore on capex slump

By: Bloomberg     5th August 2016 A slowdown in spending on global iron-ore projects amid weak prices is setting the ground for a longer-term revival, according to Hong-Kong listed producer IRC, which is starting up production from a new project in Russia that was 10 years in the making. The steelmaking ingredient, which has... 

From elevated inspections to stock analysis, drones begin making business impact

By: Dylan Slater     5th August 2016 Remotely piloted aircraft systems (RPASes) have the potential to significantly change the way many industrial, engineering and mining operations are conducted, with the ability to reach difficult-to-access areas and remove people from hazardous situations. RPASes, which are colloquially known as... 

Blast furnaces set new records

     5th August 2016 Russia-based steel producer and metals company OJSC Magnitogorsk Iron and Steel Works’ (MMK’s) largest blast furnaces set new records for monthly volumes of pig iron. The company’s blast furnace no. 9 produced 157 490 t of pig iron in April, beating its previous monthly record of 153 526 t, set... 

From elevated inspections to stock analysis, drones begin making business impact

By: Dylan Slater     5th August 2016 Remotely piloted aircraft systems (RPASs) have the potential to significantly change the way many industrial, engineering and mining operations are conducted, with the ability to reach difficult to access areas and remove people from hazardous situations.  

Plummeting economy catalyst preceded Nenegate – economist

By: Anine Kilian     4th August 2016 While many blame December’s sudden depreciation of the rand, which plummeted from R13.92 to the dollar to almost R17 to the dollar, on President Jacob Zuma’s sudden firing of then Finance Minister Nhlanhla Nene, and on US Federal Reserve chairperson Janet Yellen’s decision to increase US interest... 

NMDC seeks consultants to spur overseas asset acquisition

By: Ajoy K Das     2nd August 2016 After a brief two-year hiatus, the acquisition of overseas mineral assets is back on the radar of India’s largest iron-ore miner, NMDC. Stung by low international prices of iron-ore and the protracted process involved in securing iron-ore blocks at home, which prove to be speed-breakers to... 

Implementation of Truck Volume Measurement system (LaseTVM) in Niznehamsk, Russia

     1st August 2016 Implementation of Truck Volume Measurement system (LaseTVM) together with Russian partner 000 Fest in the plant of Keramzit in Niznehamsk, Russia. Within this project not only a plain volume acquisition has been applied, but also data handling of license plates or photographs of empty trucks. For... 

Kinross Gold expects to suspend Chilean mine in Q4

By: Reuters     28th July 2016 Kinross Gold Corp said on Wednesday it expected to suspend operations at a Chilean gold mine in the fourth quarter as it posted a second-quarter loss that exceeded forecasts. The world's fifth-largest gold miner by output said in its earnings report that it expected to halt mining at Maricunga... 

South Africa to host 11th International Heavy Haul Conference

By: Anine Kilian     25th July 2016 South Africa has won the bid to host the Eleventh International Heavy Haul Association (IHHA) conference, which will be held in Cape Town from September 2 to 6, 2017 at the Cape Town International Convention Centre. The IHHA has partnered with State-owned rail utility Transnet and the South... 

Manufacturers to exploit emerging automotive markets

By: Nadine James     22nd July 2016 Original-equipment manufacturers (OEMs) are aiming to expand their client bases and establish automotive manufacturing facilities in emerging market economies, owing to the current saturation in European and US automotive markets, says auditing and consulting firm KPMG. KPMG industrial and... 

Brics looks back at first year of NDB

By: Megan van Wyngaardt     21st July 2016 A South African delegation, led by Finance Minister Pravin Gordhan, was party to discussions on the New Development Bank’s (NDB) five-year strategy at its first annual meeting in Shanghai, China last week. The Brazil, Russia, India, China and South Africa-, or Brics-, led institution used the... 

Uranium is the dirty underbelly of nuclear – scientist

By: News24Wire      21st July 2016 Antinuclear sentiment tends to focus on nuclear waste or operational risks, but more focus should be on the “dirty underbelly” of uranium mining, according to a science adviser. “Whenever people get excited about nuclear power stations, they kind of forget where the actual uranium comes from,” Dr... 

Turkish gold miners operate unhindered during attempted coup

By: Henry Lazenby     18th July 2016 Turkey-focused miner Alacer Gold reported Sunday that the Çöpler mine was operating as normal and that there were no local disruptions in the wake of a military coup d'état attempt on the government of Turkish President Recep Tayyip Erdoğan. The TSX- and ASX-listed company reported that after it... 

E-commerce a $22tn market of opportunities – Unctad

By: Natasha Odendaal     18th July 2016 The United Nations Conference on Trade and Development (Unctad) has unveiled a new electronic commerce (e-commerce) initiative to assist emerging economies in leveraging the rapidly growing $22.1-trillion market. The global e-commerce market has increased 38% since 2013, with business-to-business... 

The Brexit fear: Was it overdone?

     18th July 2016 Various global and domestic real economic activity data gave financial markets last week a welcome boost. On the heal of the favourable USA job data the previous Friday, better than expected company earnings in the USA, and good growth prospects for China turned market sentiment to the good. The... 

Copper outlook dim as macroeconomic challenges loom

By: Henry Lazenby     14th July 2016 The copper price is set to dip during the second half of the year, as poor producer discipline, higher output and lower Chinese demand growth combine for a fifth consecutive year of price decline in 2016, according to a new report by market analysts at Thomson Reuters GFMS. Analysts expected... 

South Africa should consider onshore LNG regasification, Fluor argues 

By: Terence Creamer     12th July 2016 Global engineering and construction group Fluor argues that South Africa could consider both onshore and offshore storage and regasification options for the importation of liquefied natural gas (LNG), however it believes that onshore facilities could offer a number of advantages. The South... 

Mondi to acquire Russian flexible packaging manufacturer

By: Anine Kilian     11th July 2016 Packaging and paper company Mondi will acquire Russian flexible packaging products manufacturer ZAO Uralplastic from joint stock company Rusnano and a private investor for an undisclosed amount. “The acquisition of Uralplastic supports the development of our consumer packaging business and... 

South Africa, India boast ‘enormous’ bilateral trade, investment potential – Zuma

By: Anine Kilian     8th July 2016 President Jacob Zuma and Indian Prime Minister Narendra Modi on Friday signed eight memoranda of understanding (MoUs). Some of the focus areas included the establishment of grassroots innovation in the area of science and technology, an MoU on tourism and a programme of cultural cooperation. 

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