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BHP announces US shale exit, profit jumps to $5.8bn

By: Esmarie Swanepoel     22nd August 2017 Mining major BHP has heeded investors’ calls to exit its shale gas business, announcing on Tuesday that it would sell the US onshore assets that it had bought for $20-bilion five years ago. BHP, which has come under pressure from activist shareholders over its US shale investment, said it had... 

Zinc’s six-month deficit grows 3% y/y – ILZSG

By: Henry Lazenby     22nd August 2017 The latest date published by the International Lead and Zinc Study Group (ILZSG) has found a 3% year-on-year wider zinc market supply gap for the first six months of 2017. According to preliminary data recently compiled by the ILZSG, the global market for refined zinc metal was in deficit by 203... 

Tanzania’s 55% share of mine revenue ‘pretty generous’ – AngloGold  

By: Martin Creamer     21st August 2017 The share of revenues that the government of Tanzania has received from the Geita gold mine is “pretty generous” when compared with what shareholders have received, AngloGold Ashanti CEO Srinivasan Venkatakrishnan said on Monday when the company reported an adjusted headline loss of $93-million,... 

Emerson Launches New Drilling Jar Clamp For Increased Safety And Well Integrity

     21st August 2017 Clamp can be used for drilling, DST jars, coil tubing and wireline applications Emerson Automation Solutions has launched the latest product within its polymer completions solutions range – the PolyOil® JAR Handling Clamp – for increased safety and well integrity. 

A cosmic theory and two-inch lump of gold drive Novo's 500% surge

By: Bloomberg     21st August 2017 Quinton Todd Hennigh has spent 13 years scouring the Earth for clues to back a hunch: that the world’s biggest gold resource has lost siblings elsewhere on the planet. Now the president of Novo Resources Corp thinks he may have found a counterpart of South Africa’s Witwatersrand in the ancient... 

Strong operating recovery as AngloGold sets new safety record

By: Martin Creamer     21st August 2017 Production of 1.748-million ounces after strong second-quarter recovery has put AngloGold Ashanti virtually at the halfway mark to meet full year guidance, CEO Srinivasan Venkatakrishnan said on Monday in presenting the company’s half-year results that also saw full-year cost guidance remain... 

Biofuels company launches franchise solution

     18th August 2017 Cape Town-based biofuel company Biogreen Diesel will start franchising its ‘Biodiesel & Research model’, to aid in the expansion of the industry and simultaneously increase awareness of biofuels in the region. The company, having made the announcement in June on its website, says it felt it had... 

Dunnottar train manufacturing complex project, South Africa

By: Creamer Media Reporter      18th August 2017 The first locally built train will be delivered by the end of 2018. 

Lapa solar park, Brazil

By: Sheila Barradas     18th August 2017 The solar park is currently the biggest solar photovoltaic facility in Brazil and comprises the 80 MW Bom Jesus da Lapa and the 78 MW Lapa solar parks. 

Samarco should be punished but not closed – Brazil mining minister

By: Reuters     17th August 2017 Samarco, a joint venture between BHP Biliton and Brazil's Vale, should be punished but not closed over the 2015 collapse of a tailings dam that killed 19 people, Brazil's mining and energy minister said on Thursday. "Mistakes may have been made, but it was an accident," Fernando Coelho Filho... 

New Brics bank plans $1.5bn lending for South African projects 

By: Reuters     17th August 2017 The New Development Bank (NDB) set up by the Brics group of emerging economies plans to lend $1.5-billion to South Africa for infrastructure projects over the next eighteen months. The BRICS - Brazil, Russia, India, China and South Africa - agreed to create the infrastructure-focussed lender in... 

New Development Bank to benefit Africa – Zuma

By: African News Agency      17th August 2017 President Jacob Zuma said on Thursday that the New Development Bank (NDB) was set to benefit infrastructure projects on the African continent as a whole, and having a permanent regional centre showed commitment to that undertaking. “We are therefore happy to know that the bank is working on... 

Paragon is one of the largest design practices in Africa

     16th August 2017 Leading architectural, interior design, and space planning practice Paragon is one of the largest in Africa. Over the past seven years, it has undertaken projects in 18 countries on the continent, and in Brazil. Projects have been completed in eleven countries in Africa, encompassing both... 

Vale works to speed up listing in strictest Brazil market

By: Reuters     15th August 2017 Bigger-than-expected shareholder backing for Vale's stock conversion plan could lead the world's No 1 iron-ore producer to speed up the listing of common shares in Brazil's strictest market to lure a broader investor base. CEO Fabio Schvartsman told investors in a Monday conference call that the... 

Mitsui to book $810m after-tax profit in Q2 on Vale's stock conversion plan

By: Reuters     15th August 2017 Japanese trading firm Mitsui & Co said on Tuesday it would book an after-tax profit of about $810-million in the July-September second quarter on Brazil's Vale's stock conversion plan. Mitsui said the profit was not included in its profit forecast for the year to March 2018 and it would revise... 

Zambia's CEC confirms reduced power supply to Glencore's copper miner

By: Reuters     14th August 2017 Copperbelt Energy Corp (CEC), Zambia's main supplier of power for its mines, confirmed on Sunday that it has restricted the amount of electricity it supplies to Glencore unit Mopani Copper Mines (MCM) because of a dispute over tariffs. Mopani said on Saturday that it has suspended operations in... 

Increased mining royalties, new mining agency a boost to Brazil’s long-term outlook 

By: Henry Lazenby     11th August 2017 Increased mining royalties and a new mining agency, coupled with generally clearer and more consistent regulations, are expected to provide an overall boost to the long-term outlook of Brazil’s resources industry, according to a recent report by Fitch Group-affiliated market analyst BMI Research.... 

On-The-Air (11/08/2017) 

By: Martin Creamer     11th August 2017 Technology has been configured that will unleash another mining boom when implemented by the struggling mining industry; A massive 40% of the gold ore in South Africa’s rich gold basin is wastefully left behind because of outdated mining methods; and If platinum ore could be pre-sorted using... 

Mining companies built on wildcat culture now want to share risk

By: Bloomberg     11th August 2017 Swashbuckling gamblers abound in the mining business, where billions are spent searching for mother lodes in some of the most inhospitable places on the planet. But a prolonged slump in metals and big losses on earlier solo projects are turning top producers into risk-avoiding wallflowers. “The... 

Vale investors overwhelmingly join share conversion plan

By: Reuters     11th August 2017 Investors in Brazil's Vale have overwhelmingly agreed to swap their preferred stock into common shares, handling the world's No 1 iron ore producer a victory in a plan that will give equal votes to all shareholders and limit government meddling. In a Thursday securities filing, Vale said a total... 

Wheaton Precious Metals hikes quarterly dividend 43% on sector-leading cash flow

By: Henry Lazenby     11th August 2017 Metals-streaming pioneer Wheaton Precious Metals (WPM) has increased its quarterly dividend by 43% to $0.10 a share, as its strong cash flow of $250-million during the first half of the year, combined with ample liquidity encouraged the board to return more cash to investors. Under the company’s... 

Potash majors report slow-but-steady market recovery as robust demand pushes prices, profits higher

By: Henry Lazenby     10th August 2017 Canadian potash majors Potash Corp of Saskatchewan and Agrium Inc have reported higher sales volumes for the crop nutrient for the second quarter ended June 30, pushing potash prices higher, despite a persisting market glut. Calgary, Alberta-based Agrium has reported adjusted net earnings – which... 

British mineral explorer in Africa lists in London

By: Reuters     10th August 2017 A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London's Aim market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015/16, a handful of new companies have... 

Vale sells two more Valemax vessels for $178m

By: Henry Lazenby     10th August 2017 The world’s largest iron-ore producer Vale has sold another two of its 400 000-deadweight-tonnne vessels for about $178-million, the Brazilian company reported on Wednesday. The vessels were delivered on Tuesday to nominees of Bank of Communications Finance Leasing (Bocomm). 

Centaurus raises cash for Brazil projects

By: Esmarie Swanepoel     9th August 2017 ASX-listed Centaurus Metals has raised A$2.5-million through a five-for-nine renounceable rights issue. The company on Wednesday said that it would issue some 624-million new shares, as well as 624-million new options, with an exercise price of 1c each and and expiry date of August 2019. 

Vale targeted in $4.8-million Brazil extortion attempt

By: Bloomberg     8th August 2017 While cyberattack extortion is in vogue the world over, in Brazil’s Amazon region old-school shakedowns are no thing of the past. A couple was arrested after allegedly unscrewing the bases of energy towers belonging to Vale SA near the city of Parauapebas and demanding as much as 15 million reais... 

Orinoco completes plant modification in Brazil

By: Esmarie Swanepoel     8th August 2017 Gold miner Orinoco Gold has completed a low capital cost process plant modification at its Cascavel gold mine, in Brazil, resulting in a 500 t trial parcel of low-grade ore being produced. The modification included the replacement of screen deck panels with smaller aperture panels, as well as... 

South Africa had a ‘slow slide’ into junk status – S&P’s

By: Natasha Odendaal     4th August 2017 South Africa’s slump from “rising star” to “fallen angel” was not an abrupt overnight downfall, but rather a slow slide following the country’s failure to fully recover from the devastating 2008/9 global crisis. Despite the turmoil, the country had held on to its investment grade ratings for over... 

Sandstorm Gold sees slight increase in Q2 production, revenue

By: Anine Kilian     4th August 2017 Canadian gold streaming and royalty company Sandstorm Gold has reported a slight increase in attributable gold equivalent production and revenue for the second quarter of 2017. The company attributed this to increases from the company's silver and copper stream from the Chapada mine in Brazil, as... 

Vale opening door to stock-market return after nine-year hiatus

By: Bloomberg     4th August 2017 The world’s biggest iron-ore miner is getting closer to snapping an equity-market drought that has stretched nine years. If its voluntary share-conversion is successful, Vale SA will be able to tap the stock market to fund investments rather than relying on debt, Chief Financial Officer Luciano... 

Dunnottar train manufacturing complex project, South Africa

By: Sheila Barradas     4th August 2017 The Gibela consortium will deliver the first locally built X'Ttrapolis Mega commuter train to the Passenger Rail Agency of South Africa by the end of 2018. 

MBSA preparing to enter ‘competitive’ bakkie market early next year

By: Irma Venter     4th August 2017 With a new-bakkie market of roughly 110 000 units a year, Mercedes-Benz South Africa (MBSA) would like to secure its “fair share” of this lucrative, “but highly competitive” segment with the launch of the new X-Class in the local market in the first half of next year, says Mercedes-Benz Vans... 

Stratex swings to profit as it sells Turkey mine

By: Mariaan Webb     3rd August 2017 Aim-quoted Stratex International on Thursday reported a half-year profit after the sale of its interest in the Altıntepe gold mine, in Turkey, helped to boost its coffers. The developer posted a profit of £880 216 in the six months ended June, which compares with a loss of £1.98-million in the... 

Ferrexpo expects up to 10Mt/y of idled pellet supply to enter market

By: Mariaan Webb     3rd August 2017 Swiss-headquartered Ferrexpo expects demand for high-quality iron-ore, especially pellets, to remain strong in the second half of 2017, underpinned by an improvement in the global economy, as well as drive by steel mills to reduce their emissions and improve the quality of their final product.... 

Odebrecht to exit Angola diamond mine, sources say

By: Reuters     2nd August 2017 Odebrecht SA, the Brazilian conglomerate selling assets in the wake of a corruption scandal, has agreed to sell a 16.4% stake in the world's No. 4 diamond mine to a partner, a person with direct knowledge of the transaction said on Tuesday. According to the person, Odebrecht exited Sociedade... 

Crusader finds buyer for Posse mine

By: Esmarie Swanepoel     2nd August 2017 ASX-listed Crusader Resources has entered into a conditional sales agreement to divest of its Posse iron-ore mine, in Minas Gerais. Crusader on Wednesday told shareholders that Inter Invest would pay some A$3.2-million for the asset over a 17-month period, with the sale conditional on Crusader... 

Karoon hunts for JV opportunities in Brazil

By: Esmarie Swanepoel     31st July 2017 ASX-listed Karoon Gas has struck a deal with German oil and gas company DEA Deutsche Erdoel to hunt for oil and gas assets offshore Brazil. “This agreement is significant in the context of realising Karoon’s strategic ambitions to acquire meaningful oil production in Brazil. Having such a... 

Brics industry ministers adopt action plan to deepen industrial cooperation

By: African News Agency      31st July 2017 The second meeting of Brics (Brazil, Russia, India, China and South Africa) industry ministers held in Hangzhou in China has adopted a seven-point “action plan” on deepening industrial cooperation among Brics countries, the trade and industry department (DTI) said on Sunday. The action plan... 

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