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Sudan's Bashir: we want to discuss nuclear power cooperation with Russia

By: Reuters     23rd November 2017 Sudanese President Omar Hassan al-Bashir told his Russian counterpart Vladimir Putin on Thursday he wanted to discuss nuclear power cooperation with Russia. Bashir was speaking before talks with Putin in the southern Russian city of Sochi on Thursday. 

Russian billionaire charged in France with money laundering

By: Bloomberg     23rd November 2017 Suleiman Kerimov, a Russian billionaire and senator, was charged with laundering gains from tax evasion in Nice and prohibited from leaving the region. Kerimov, whose family controls Russia’s biggest gold producer, Polyus PJSC, is required to surrender his passport and post €5-million bail, Nice... 

Scope of Kerimov's immunity status up to judge to decide upon, says France

By: Reuters     22nd November 2017 The scope of the immunity status accorded to Russian businessman and lawmaker Suleiman Kerimov, who has been arrested in France, is up to the French judge dealing with the matter to decide upon, said the French foreign ministry. Kerimov was arrested by French police at Nice airport on Monday... 

Metals billionaire to win whether electric cars boom or bust

By: Bloomberg     22nd November 2017 There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon this year. One is higher prices for nickel used in batteries as metals traders bet electric vehicles are the future of transportation. The other is a... 

Polyus starts two-year drilling campaign at large gold deposit

By: Creamer Media Reporter      21st November 2017 A two-year, 180 000 m drilling campaign at the Sukhoi Log deposit – Russia’s biggest greenfield gold project – has started. A three-dimensional block model, which used historical drilling results, has estimated an inferred mineral resource of 58-million ounces, grading 2 g/t. 

Russia's VTB Capital aims to double gold sales to China in 2018

By: Reuters     21st November 2017 Russia's VTB Capital, one of Russia's biggest gold traders, aims to more than double sales of the precious metal to China next year, its global commodities chief said, after import curbs forced it to cut its target for this year. The investment banking unit of Russia's No.2 lender VTB, VTB... 

Nornickel sees capex rising by 2019-2020

By: Reuters     20th November 2017 Russia's Norilsk Nickel plans to increase capital expenditure to an average of $2.3-billion to $2.5-billion a year in 2019 and 2020 from about $2-billion in 2018 due to an environmental project and infrastructure modernisation, it said on Monday. Nornickel, part-owned by Russian businessman... 

Norilsk Nickel to increase 2017 palladium purchases

By: Reuters     20th November 2017 Russia's Norilsk Nickel, the world's top palladium producer, said it plans to boost purchases of palladium for its fund from Russian central bank reserves to help ease shortages in the market. Head of Global Sales and Marketing Markus Meurer told Reuters ahead of a presentation to investors that... 

Polyus shares to be included in MSCI Russia index

     14th November 2017 Gold miner Polyus announced on Tuesday that Morgan Stanley Capital International (MSCI) would include the company’s shares into its Russia and emerging markets indices at the end of the month. Polyus CEO Pavel Grachev said that the inclusion in the MSCI Index has been a long standing objective... 

Initial reserve estimate confirms Nezhda viability – Polymetal

By: Mariaan Webb     13th November 2017 LSE-listed gold and silver miner Polymetal on Monday published an initial ore reserve estimate for the Nezhdaninskoye (Nezhda) gold deposit, in Yakutia, reaffirming the project’s economic viability. Nezhda, which is the fourth largest gold deposit in Russia, is estimated to have an openpit ore... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

South Africa crucial to global chrome supply, Chromium 2017 hears 

By: Martin Creamer     10th November 2017 South Africa is an irreplaceable supplier of chrome ore and ferrochrome, which is, in turn, an irreplaceable component of China-dominated stainless steel production, global delegates to last week’s well-attended Chromium 2017 conference heard. South Africa, as the dominant global chrome producer,... 

Australian uranium hopefuls welcome Cameco production cuts

By: Esmarie Swanepoel     10th November 2017 Australia’s uranium hopefuls have welcomed a decision from uranium major Cameco to shutter its McArthur River mining and Key Lake milling operations, in Canada. Cameco this week announced its plans to remove some 10% of the current global uranium supply, on the back of continued uranium price... 

Russian fund plans a $1bn mining venture with China Gold

By: Bloomberg     10th November 2017 Russia’s State-owned Far East Development Fund is in talks to create a $1-billion joint venture to invest in the country’s mining industry with China National Gold Group, a government controlled producer of the precious metal. "We and China Gold will create an attractive financial platform that... 

Nigeria, Russia sign nuclear agreements

By: Keith Campbell     10th November 2017 Nigeria has signed agreements with Russia covering the construction and operation of a nuclear power plant (NPP) and a nuclear research reactor and associated research facilities, Russia’s State-owned nuclear group Rosatom has announced. The two countries also signed a cooperation roadmap... 

Polyus Q3 net profit falls, capex doubles on Natalka construction

By: Mariaan Webb     9th November 2017 Russia’s top gold producer, Polyus, on Thursday reported a 5% drop in third-quarter net profit to $371-million, reflecting the impact of a gain on derivatives and investments in the prior period, as well as finance costs. The company, which is listed on the LSE, said adjusted net profit... 

Gold demand falls to 8yr low in Q3

By: Natasha Odendaal     9th November 2017 Global gold demand fell to an eight-year low in the third quarter of this year, following a “softer quarter” of demand in the jewellery sector and significantly lower inflows into exchange-traded funds (ETFs), the latest data from the World Gold Council (WGC) shows. The ‘Gold Demand Trends’... 

Kinross reports 35% dip in Q3 earnings on lower sales

By: Henry Lazenby     9th November 2017 Canadian major Kinross Gold has reported a 35% dip in third-quarter profit as metal sales fell, the company advised on Wednesday. The Toronto company reported adjusted net earnings attributable to common shareholders for the three months ended September of $84.1-million, or $0.07 a share,... 

Russia bets on hungry China with $6bn fertiliser mines

By: Bloomberg     8th November 2017 China’s dilemma of how to feed its booming population will partially be answered by fancier fertilizers, according to one of the world’s richest billionaires. EuroChem Group AG, owned by Russian commodities tycoon Andrey Melnichenko, is spending over $6-billion on two mines to produce potash, a... 

Cities urged to help cut global supply chain emissions

By: Reuters     8th November 2017 Cities should try to slash the planet-warming gases pumped out beyond their own boundaries in the production of the vast quantities of goods and services they consume, researchers said. Upstream emissions – those generated along the global production chain when cars, clothes or building materials... 

PotashCorp, Agrium 'merger of equals' gains Chinese competition consent

By: Henry Lazenby     7th November 2017 The merger of Potash Corporation of Saskatchewan and Agrium Inc has received the thumbs up from the Chinese Ministry of Commerce. Billed as a 'merger of equals', the business combination will create a new $36-billion entity, to be named Nutrien. The transaction is working its way through the... 

In the country where coal is king, a battle with the EU looms

By: Bloomberg     6th November 2017 The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market. Negotiators representing the 28-nation bloc and its member states will meet on Nov. 8... 

Turkey's gold-buying spree has market wondering how much and why

By: Bloomberg     6th November 2017 Turkey’s central bank is hoarding gold again. The question is, how much and why? Official data show Turkey added 3.8-million ounces of gold worth almost $5-billion to reserves this year. While actual purchases could be much less – the figure is skewed by metal deposited by commercial banks –... 

Diplomatic row in Central Asia hurting Russia and Europe

By: Reuters     6th November 2017 An escalating diplomatic and trade dispute between Kazakhstan and its smaller central Asian neighbour Kyrgyzstan is hurting companies as far away as London, and pressure is growing on Russia to step in and reconcile its allies. Shares in UK-listed miner Kaz Minerals, which has Kazakh... 

Zuma remains committed to nuclear project and Russia

By: News24Wire      6th November 2017 Those who do not support South Africa's nuclear project are backing western agendas, President Jacob Zuma said during his Oliver Tambo centenary address in Kagiso, Johannesburg on Sunday. Zuma went into detail explaining the ANC’s relationship with Russia and why the government was pursuing its... 

Equipment supplier provides spare-part warehousing solution

By: Nica Schreuder     3rd November 2017 Owing to increasing demand for improved quality and the availability of production operations, metallurgical plant and equipment supplier SMS group provides consignment stock or warehousing facilities for their operational and insurance spare parts and components. “The service enables customers... 

100 years from now

By: Terry Mackenzie-hoy     3rd November 2017 When the Trojans found a horse on the beach, I am quite sure that the first thing they thought was not: "How kind of those Greek lads", but rather: "Whatever are they up to?" We have similar horse. Ever friendly and kind Google lets us use Google Earth without charge. We even get a street view of... 

Saudi Arabia to extract uranium for 'self-sufficient' nuclear programme

By: Reuters     1st November 2017 Saudi Arabia plans to extract uranium domestically as part of its nuclear power program and sees this as a step towards “self-sufficiency” in producing atomic fuel, a senior official said on Monday. Extracting its own uranium also makes sense from an economic point of view, said Hashim bin... 

Climate change harms health worldwide as millions swelter – study

By: Reuters     1st November 2017 Climate change has caused severe harm to human health since the year 2000 by stoking more heat waves, the spread of some mosquito-borne diseases and under-nutrition as crops fail, scientists said on Tuesday. Scant action to slow global warming over the past 25 years has jeopardized “human life... 

Ghost town of Cobalt gets first jolt from Tesla’s electric cars

By: Bloomberg     1st November 2017 Ironically, Cobalt, Ontario – population 1,100 – was built on silver. Remnants of a boom that transformed the town more than a century ago are everywhere. A mine headframe still protrudes from the roof of the bookstore, which was previously a grocery. The butcher used to toss unwanted bones down... 

France's EDF would bid in South African nuclear tender

By: Reuters     31st October 2017 French utility EDF would bid in a South African nuclear tender if the country went ahead with plans to expand its nuclear power industry, an EDF executive said on Tuesday. South Africa is planning to build several new nuclear reactors with combined capacity of 9 600 MW. The state's nuclear agency... 

South Africa nuclear regulator says expects plant site licence in June

By: Reuters     31st October 2017 South Africa's nuclear regulator said on Tuesday that an installation site licence would likely be granted in June for a nuclear power plant that the finance minister has said Africa's most advanced economy cannot afford. South Africa's nuclear plans are shrouded in controversy and uncertainty,... 

Russia's Norilsk launches copper and gold mine near Chinese border

By: Reuters     31st October 2017 Russia's Norilsk Nickel launched a greenfield copper, iron and gold mine in the country's remote Far East on Tuesday, the company said. The Bystrinsky project, some 400 km by rail from the Chinese border in the Siberian region of Chita, plans to export its production to China, the world's top... 

Electric cars yet to turn cobalt market into gold mine – Nornickel

By: Reuters     30th October 2017 Demand for cobalt used to make rechargeable batteries that power electric cars has not yet translated into a tighter market, according to Russia's Norilsk Nickel, a major producer of the metal. Materials used to make the batteries will be a key topic of discussion during LME Week, a gathering of... 

Brent oil holds near two-year high as Saudi Prince backs Opec cuts

By: Bloomberg     27th October 2017 Brent oil held gains near the highest level in more than two years as Saudi Arabia’s Crown Prince Mohammed bin Salman backed the extension of Opec-led output cuts. Futures were little changed near $60 a barrel in London, up 2.6% for the week. The prince said Thursday that “of course” he wanted to... 

Small mining companies shun London market after IPO flops

By: Reuters     26th October 2017 Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital, either by merging or turning to other markets such as Toronto. Six small miners have listed in London this year, up from two last year, but... 

Government moves to reprioritise NDP-aligned initiatives, infrastructure spend estimate at R948m

By: Natasha Odendaal     25th October 2017 With increasing indications that South Africa, on its current path, will not achieve its National Development Plan (NDP) ambitions, government is redirecting efforts to prioritise programmes that strengthen the alignment of the national budget, the medium-term strategic framework and the NDP.... 

Obama administration's decision on uranium sale probed by House

By: Bloomberg     25th October 2017 US House committees are investigating why former President Barack Obama’s administration allowed a Russian-backed company to purchase American uranium mines in 2010. The House Intelligence and Oversight panels will look into the matter, Devin Nunes, a California Republican who is chairperson of... 

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