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South Africa growth ticking up, Mexico slowing – S&P

By: Reuters     19th January 2017 South Africa should avoid falling into recession this year, the chief economist of Standard & Poor's said on Wednesday, but the firm has cut its forecasts for Mexico amid rising concerns over its trade ties with the United States under Donald Trump. Paul Sheard, who is not involved in deciding... 

SA Pump Manufacturer Celebrates 37 Years Of Internationally Proven Award Winning Pump Designs

     19th January 2017 HAZLETON PUMPS, a family owned and managed business located in Centurion, has been continually awarded since the company’s inception 37 years ago with numerous awards and is regarded as a world leader in the pumping of high head, high volume acidic liquids containing solids utilising their... 

Nigeria plan to link mines to steel mill seen as Buhari test

By: Bloomberg     18th January 2017 Nigeria’s plan to build a railway to supply iron-ore to its idle Ajaokuta steel plant could be the biggest sign yet that President Muhammadu Buhari is implementing his policy to diversify away from oil. The project began in 1979 with what the World Bank in 2002 called obsolete Soviet technology,... 

Israeli official opposes extension to ICL's Dead Sea mining permit

By: Reuters     17th January 2017 Israel Chemicals' (ICL's) permit to mine in the Dead Sea should not be extended when it expires in 2030 but instead the rights should be put up for sale by tender, a senior Finance Ministry official recommended on Tuesday. "Holding a tender is the correct way to maximise the public's share of the... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs

By: Henry Lazenby     13th January 2017 News this week that Kazakhstan will curtail its uranium output by about 10% this year has sent spot prices to the highest levels since September, provoking cautious optimism among market observers that the trough has been traversed. “I think that this move signals a fundamental change in... 

Prospective Mongolian rail line proves feasible

By: Esmarie Swanepoel     9th January 2017 Initial feasibility studies into the Erdenet to Ovoot railway, in Mongolia, have determined the project to be feasible, ASX-listed Aspire Mining has reported. The company told shareholders on Monday that the railway servicing the proposed Ovoot coking coal project would require a capital... 

Outlook 2017: SA growth weak, but stronger than 2016

By: News24Wire      3rd January 2017 South African asset prices should perform "ok", but mainly because there are more negative peers to compare to – especially Turkey – emerging markets economist Peter Attard Montalto of Nomura said on Thursday. "South Africa will see an overarching political narrative as the ANC moves to its... 

European shares ease as miners, banks fall

By: Reuters     29th December 2016 European shares opened slightly lower on Thursday as miners fell and Italian banks and Credit Suisse led banking shares lower. The pan-European STOXX 600 index was down 0.3%. Volumes were subdued during the last few days of the year. 

Russian flights to Egypt will resume soon, Putin tells Sisi

By: Reuters     29th December 2016 Russian flights to Egypt will resume soon, Russian President Vladimir Putin told Egyptian President Abdel Fattah al-Sisi in a phone call, Sisi's office said on Thursday. Flights to Egypt from Russia were suspended after a Russian plane crashed into the Sinai desert in October 2015. Islamic State... 

'We want the rand to fall so that when it rises, we will control the economy' - Maine 

By: News24Wire      22nd December 2016 African National Congress Youth League (ANCYL) president Collen Maine says the league wants and needs the rand to fall so that when it rises again, the country's economy will be under their control. "We want the rand to fall, we need those economic turntables. The rand will fall but when it... 

Coal traders see end of price rally as China ramps up output

By: Bloomberg     22nd December 2016 Coal’s recovery was one of the biggest surprises in commodities this year, but it is all poised to end as output rises from China, producer of half the world’s supply. After half a decade of declines, European prices rebounded more than 80% as China, also the world’s biggest consumer of the... 

Shell Lubricants Market Leader for the tenth year in a row

By: Creamer Media Reporter      20th December 2016 Shell Lubricants has retained its global market leading position in 2015 with 11.6% market share, according to Kline & Company’s Global Lubricants Industry: Market Analysis and Assessment 2016 report. This is the tenth consecutive year that Shell Lubricants has been named the number one global... 

The impending trade facilitation agreement

By: Riaan de Lange     16th December 2016 Two years ago, December 12, 2014 to be exact, my last column for the year was simply titled, ‘Trade facilitation’, and now again, my final column for 2016 is devoted to trade facilitation - the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) that is. This time around, however,... 

Global base metals, US coal and steel prices stabilising – Moody's

By: Henry Lazenby     14th December 2016 The 2017 outlooks for the global base metals, US steel and US coal industries remain stable for the next 12 to 18 months, according to Moody's Investors Service. In a report released Tuesday, the ratings agency said that weak macroeconomic indicators would limit upside movement in the base metals... 

Stillwater deal runs deep

By: Martin Creamer     9th December 2016 The acquisition of America’s Stillwater Mining has the potential to put South Africa’s Sibanye on the inside track of low-cost mechanised primary mining as well as provide it with deep insight into secondary mining – the recycling of platinum-group metals (PGMs). Both these inputs will help... 

Sibanye to acquire US platinum miner for R30bn

By: Martin Creamer     9th December 2016 Precious metals mining company Sibanye Gold has entered into a definitive agreement to acquire all of the outstanding common stock of Stillwater Mining Company of the US for R30-billion ($2.2-billion). The $18-a-share offer represents a premium of 23% to Stillwater’s prior day closing share... 

Rosatom looks forward to result of South Africa’s nuclear debate

By: Keith Campbell     9th December 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,” states Rosatom International Regional VP: Sub-Saharan Africa Viktor Polikarpov. “The new [South African]... 

Glencore's Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Rio CEO wants to expand in diamond mines rather than divest

By: Bloomberg     7th December 2016 When Rio Tinto Group chief Jean-Sebastien Jacques took the reins of the world’s second-biggest mining company in July, there was speculation he’d sell a host of less desirable mines and smelters. The firm’s diamond business, underpinned by two underground mines, was considered by some analysts as... 

Kumba ranked carbon disclosure leader

By: Megan van Wyngaardt     5th December 2016 Kumba Iron Ore, a business unit of Anglo American, has been named one of the carbon disclosure leaders for 2016 by Engaged Tracking (ET) Index Research – the only company from the Brazil, Russia, India, China and South Africa grouping on the list. In its yearly ‘ET Carbon Rankings’, released on... 

Scotiabank index stronger on oil, copper rally

By: Megan van Wyngaardt     5th December 2016 The Scotiabank Commodity Price Index gained 9.1% month-on-month in October, supported by large positive moves in both the oil and gas and metals and minerals sub-indices. Of note in each of these markets are the recently concluded Organisation of the Petroleum Exporting Countries (Opec) agreement... 

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... 

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... 

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... 

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... 

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