R/€ = 14.59 Change: 0.06
R/$ = 11.82 Change: 0.15
Au 1333.77 $/oz Change: 19.20
Pt 959.50 $/oz Change: 7.49


Goldman, Citi final bidders for Scotiabank's metals business – sources

By: Reuters     24th January 2018 The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two, three banking and industry sources said on Wednesday. The two - Goldman Sachs Group and Citi - are undertaking due diligence checks, the sources said. 

Cobalt and 11% yields lure risk-takers to this Canadian miner

By: Bloomberg     10th January 2018 Sherritt International Corp’s double-digit bond yields are beginning to lure investors, even as questions linger about whether the Canadian miner has unloaded enough debt and turned around its sputtering projects. The Toronto-based firm restructured its Ambatovy mining joint venture, in... 

Electric vehicle growth puts pressure on nickel supply

By: Robyn Wilkinson     8th December 2017 Global research and consultancy firm Wood Mackenzie estimates that nickel demand for electric vehicle (EV) batteries will increase from about 40 000 t in 2016 to 220 000 t in 2025, as demand for hybrid, plug-in and full EVs grows in developed countrie 

Sherritt formalises restructuring of Ambatovy JV

By: Henry Lazenby     10th November 2017 Canadian diversified miner Sherritt International has signed a definitive agreement to restructure the Ambatovy Joint Venture (JV), which will see Sherritt transfer its 28% stake in return to eliminate debt from its balance sheet. Under the terms of the JV restructuring, which was first revealed... 

Peabody sells majority of Burton mine for $11m

By: Esmarie Swanepoel     6th September 2017 US coal major Peabody Energy struck a deal with the Lenton joint venture (JV), in which ASX-listed New Hope Corporation holds a 90% interest, to divest of the majority of its Burton mine, in Queensland, for $11-million. The Lenton JV will assume the reclamation obligations associated with the... 

Glencore puts Queensland thermal coal mine on the market

By: Esmarie Swanepoel     28th August 2017 Diversified major Glencore and its joint venture partners Itochu and Sumitomo have started the sales process of the Rolleston thermal coal mine, in Queensland. Glencore said on Monday that the decision to divest of the Rolleston mine was part of the company’s ongoing programme to optimise its... 

Iamgold completes Côté stake sale

By: Creamer Media Reporter      21st June 2017 Canadian gold miner Iamgold has completed the sale of a 30% interest in the Côté gold project, in Ontario, to a subsidiary of Sumitomo Metal Mining for $195-million. Iamgold, which still owns the remaining 70% interest in the project, has received $100-million in cash and the balance is payable... 

Sherritt scales back Ambatovy ownership, to remain operator

By: Henry Lazenby     2nd May 2017 Canadian diversified miner Sherritt International has reached agreement with its joint venture (JV) partners to reduce its interest in the Ambatovy nickel/cobalt mine, in Madagascar, from 40% to 12%. Sherritt, which derives about a quarter of its revenue from Ambatovy, has long ceased funding... 

Sherritt forecasts higher 2017 nickel output

By: Mariaan Webb     1st February 2017 Canada-based Sherritt International Resources is forecasting higher nickel production in 2017, especially from its 40%-owned Ambatovy nickel and cobalt joint venture (JV), in Madagascar. The diversified miner on Tuesday provided a nickel production guidance (100% basis) of 81 000 t to 86 000 t... 

Agreement reached for production of construction equipment

By: Aarifah Nosarka     7th October 2016 Construction equipment manufacturers CNH Industrial and industrial equipment manufacturer Hyundai Heavy Industries (HHI) have signed an exclusive ten-year agreement, with the option of renewal, for the production and development of mini excavators for global distribution. Under the agreement,... 

$1 coal mines turn to jackpots as China’s cuts power rally

By: Bloomberg     30th September 2016 Buying bargain-bin coal mines amid the worst commodity slump in a generation has turned into a savvy bet as prices of the fuel surge. Stanmore Coal bought the Isaac Plains metallurgical coal mine in Australia for A$1 in July 2015 from Brazilian miner Vale SA and Japan’s Sumitomo when the price... 

Investments integral to effective safety

     9th September 2016 The South African Tyre Manufacturers Conference (SATMC) notes that deeper conversations pertaining to legislation, education and safety processes are necessary to ensure that the industry advances the safety of motorists.  This is the motivation behind the SATMC’s collaboration with other... 

Stanmore reports production results from Isaac Plains 

By: Mariaan Webb     20th July 2016 The Isaac Plains coal mine, which Stanmore Coal reopened earlier this year, has managed to produce 231-million tonnes in the June quarter, which marked the ramp-up phase of operations. Stanmore reported on Wednesday that it had sold 156-million tonnes from the Queensland mine, which it bought... 

As lithium demand rises, investors sharpen focus on Chile, Argentina and Bolivia

By: Henry Lazenby     14th June 2016 In line with the breakneck growth in lithium demand, driven by the unprecedented use of the soft, silver-white metal in new battery technologies, investors are increasingly scrutinising South American countries such as Bolivia, Chile and Argentina, where about 70% of the world’s known lithium... 

Stanmore Coal reopens Isaac Plains mine

By: Samantha Herbst     18th May 2016 Defying the current downturn in the global coal sector, ASX-listed junior coal miner Stanmore Coal became Australia’s newest coking coal producer on Wednesday, after Queensland Premier Annastacia Palaszczuk officiated the reopening of the Isaac Plains mine, in the Bowen basin. Stanmore restarted... 

Tyre manufacturing plant upgrade and expansion project, South Africa

By: Sheila Barradas     6th May 2016 The Phase 2 expansion project will introduce truck and bus tyres to the manufacturing line. 

Ambatovy undertakes plant maintenance as tax spat drags on

By: Henry Lazenby     26th February 2016 Operations at Madagascar’s $8-billion Ambatovy nickel/cobalt mine continued on Friday, despite all shipments to and from the operation remaining marooned at an east-coast port as a tax dispute with the Malagasy government on new shipment levies dragged on. Operator and 40%-owner Sherritt... 

Ambatovy in danger of closing in less than a week, as Sherritt seeks to rejig project input

By: Henry Lazenby     19th February 2016 The shipment starved Ambatovy nickel/cobalt-producing joint venture (JV) in Madagascar might be forced to shutter operations in less than a week, after incoming and outgoing shipments have been stranded at an east-coast port since early this month, after government imposed a new shipment levy.... 

Sherritt braces for C$1.6bn impairment of nickel assets

By: Natalie Greve     13th January 2016 Nickel miner and refiner Sherritt International Corporation has cautioned the market of an expected $2.4-billion impairment of the Ambatovy joint venture (JV) assets, in Madagascar, citing lower forecast nickel prices. The expected impairment figure was based on an expected nickel price of $8.50/lb. 

Ambatovy mine continues to perform

By: Creamer Media Reporter      8th December 2015 The Ambatovy nickel and cobalt mine, in Madagascar, in which TSX-listed Sherritt International owns a 40% interest, produced 4 006 t of nickel and 283 t of cobalt in November. Production for the month was at about 81% of nameplate capacity. 

Tilt-up construction method saves time, money

By: Dylan Slater     9th October 2015 Concrete construction company Bedrock Group saved about R5-million on a recent extension of a building at tyre manufacturer Sumitomo’s plant in Ladysmith, KwaZulu-Natal, by implementing the tilt-up construction method, instead of using conventional construction methods. 

Worker dies at Sherritt’s Ambatovy operation, Madagascar

By: Henry Lazenby     21st August 2015 A contract worker has died from head injuries after being struck by a falling tree at diversified miner Sherritt International’s Ambatovy joint-venture (JV) project, in Madagascar. TSX-listed Sherritt reported that an employee of a tree-clearing contractor was working  in a future mining area on... 

Sherritt's Madagascar Ambatovy project puts in strong July performance

By: Henry Lazenby     6th August 2015 Multinational miner Sherritt International has reported much-improved quarter-over-quarter operating metrics at its Ambatovy nickel/cobalt project, in Madagascar. For July, finished nickel output was 1 694 t (4 236 t on a 100% basis), or about 83% of nameplate capacity, and finished cobalt output... 

IIMC 2015 – International Injection Moulding Conference in Aachen

     25th June 2015 The Institute of Plastics Processing in Industry and the Skilled Crafts at RWTH Aachen University is extending an invitation to the second International Injection Moulding Conference – in short IIMC – due to be held in Aachen on September 30 and October 1, 2015. National and international experts... 

Madagascar nickel project suffers another setback

By: Henry Lazenby     4th June 2015 Diversified Canadian resource company Sherritt International has suffered another setback at the Ambatovy nickel/cobalt project, in Madagascar. Strikes at both the mine and plant, and a transformer failure had choked the operation’s ability to ramp up to the coveted 90% of design capacity for 90... 

Hansen Transmissions South Africa – drive solutions partner for mining and industry on the African continent

     1st June 2015 Hansen Transmissions South Africa (Pty) Ltd.’s market responsibilities on the African continent have been extended beyond the southern region to also incorporate the Economic Community of West African States as well as east and central Africa.“We have been serving the southern African region for... 

‘Flagship’ gearbox orders to new coal-fired builds completed

By: Mia Breytenbach     15th May 2015 Gearbox designer and manufacturer Hansen Transmissions South Africa has completed the supply of 384 Hansen M4 air-cooled condenser (ACC) drives each to State-owned power utility Eskom’s coal-fired Medupi power station, in Limpopo, and the Kusile power station, in Mpumalanga, last month. While the... 

Strike action hinders Sherritt's Ambatovy project from finding stride

By: Henry Lazenby     6th May 2015 Strike actions involving a portion of Sherritt International’s workforce at the Ambatovy mine and, subsequently, at the Ambatovy plant, in Madagascar, was hindering the operation’s ramp-up to commercial production. For April, finished nickel output was 1 244 t, or 3 110 t on a 100% basis, about... 

Dorper wind farm completed, feeding into grid 

By: Natasha Odendaal     4th May 2015 South Africa’s national electricity grid has received a 100 MW boost as the Dorper wind farm, in the Eastern Cape, reached steady-state electricity feed-in. The wind farm, which was one of the Department of Energy’s first-window projects of the Renewable Energy Independent Power Producer... 

Ambatovy ramp-up continues despite reduced output in March

By: Henry Lazenby     6th April 2015 Diversified Canadian miner Sherritt International has advised that finished nickel output at its Ambatovy project, near Moramanga, Madagascar, was lower than expected owing to a plant shutdown in late February following a hydrogen sulphide gas release and a recent strike. For March, finished... 

Sherritt International achieves major production milestone at Madagascar nickel project 

By: Henry Lazenby     23rd March 2015 Pending independent verification, multinational miner Sherritt International has achieved a significant production milestone at its Ambatovy nickel project, in Madagascar, after securing the sixth – and one of the most critical – of ten certificates under the terms of the project’s financing... 

Producing IML decorated containers by the second

     17th February 2015 At Plastpol, which will take place from 26 until 29 May in Kielce/Poland, Demag Plastics Group SP. z.o.o will present a highly impressive exhibit: an El-Exis SP 200 for the production of IML decorated food containers will be on show as a system solution in hall G, stand 15. At Plastpol, Demag... 

Mining boosts world’s poorest regions – ICMM

By: Martin Creamer     27th January 2015 The global mining industry makes its biggest contribution in the world’s poorest regions, an International Council on Mining & Metals (ICMM) study has found. The study, which became available in published form on Tuesday, finds that mining spurs the growth and development of national economies... 

Nordex launches light-wind turbine in South Africa

By: Kim Cloete     5th November 2014 German wind power company Nordex has launched an innovative turbine in South Africa, which it says is capable of achieving up to 28.6% more yield in light-wind locations. The new N131/3000 turbine was launched during this week’s WINDaba in Cape Town, which had brought together local and... 

Kudu combined-cycle gas turbine project, Namibia

     3rd October 2014 Namibia has picked China's Shanghai Electric as the preferred bidder to build the Kudu combined-cycle gas turbine project. 

Furnace projects fire up from SA to Malaysia

By: Ilan Solomons     8th August 2014 Smelter engineering firm Metix, a subsidiary of German privately owned SMS Group, has commissioned the second set of furnace electrodes at the Lion ferrochrome complex Phase 2 (Lion II) expansion project, in Steelpoort, Limpopo, which is owned by the diversified mining major Glencore and... 

Sherritt International swings to Q1 loss

By: Henry Lazenby     30th April 2014 Diversified Canadian miner Sherritt International on Wednesday reported a first-quarter net loss, as a charge at its new Ambatovy nickel mine, in Madagascar, and financing costs related to a weakening Canadian currency impacted on its results. The Toronto-based miner, which specialises in mining... 

Conference to push for approval of alternative waste-tyre collection plan  

By: Ilan Solomons     14th February 2014 The South African Tyre Manufacturers Conference (SATMC) will aim to get government’s final approval for the implementation of the South African Tyre Recycling Plan (SATRP) Waste Tyre Plan (WTP) in the first half of this year, SATMC CEO and director Dr Etienne Human tells Engineering News. The... 

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