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Iata’s new payment method for air tickets successfully demonstrated

By: Tasneem Bulbulia     8th January 2019 The International Air Transport Association (Iata) has successfully completed the first Iata Pay ticket purchase transaction in a live test environment, the organisation announced in a statement on Tuesday. The transaction was conducted in partnership with UK-based fintech company ipagoo. 

Nene rollercoaster takes Nomura from major rand bear to bull

By: Bloomberg     11th October 2018 Nhlanhla Nene has been dropped from South Africa’s cabinet twice in three years – and his misfortunes have been the catalyst that turned one of the biggest rand bears into one of the biggest bulls. As the currency declined this week amid speculation that Nene would resign as finance minister,... 

Volkswagen is near hiring top banks for truck unit IPO

By: Bloomberg     9th October 2018 Volkswagen is close to hiring banks and advisers to work on an initial public offering (IPO) for its heavy-truck division, according to people with knowledge of the matter. Citigroup, Deutsche Bank, Goldman Sachs Group and JPMorgan Chase & Co are likely to win mandates as global coordinators for... 

South Africa launches electronic trading platform for government bonds

By: Reuters     29th August 2018 The Johannesburg Stock Exchange (JSE) and the London Stock Exchange launched the country's first electronic government bond trading platform, offering an alternative to traditional fixed-income trading via telephone or chat services. The new system offers public price transparency equivalent to... 

War on coal is making the world's top mine owners a lot richer

By: Bloomberg     2nd May 2018 The world’s war on coal is making its biggest producers a lot richer, at least for now. With governments from Asia to Europe setting stricter pollution limits as the climate change debate intensifies, output of the planet’s dirtiest fuel is dropping. Some of the more significant declines are... 

Goldman Sachs no longer one of top three commodities banks

By: Reuters     22nd March 2018 Goldman Sachs lost its place among the top three earners of commodities-related revenue in 2017, falling below rivals JPMorgan, Morgan Stanley and Citibank for the first time, data from analytics firm Coalition showed. US-based investment bank Goldman has been among the top three since Coalition... 

Rio Tinto hires UBS to explore Pacific Aluminium listing - sources

By: Reuters     19th March 2018 Rio Tinto has asked Swiss investment bank UBS to explore a possible public listing of its Pacific Aluminium smelting business on the Australian Stock Exchange (ASX), two industry sources said on Friday. The mining group has tried to sell the division many times without success, including in... 

Venezuela gold reserve value falls 14% in 2017

By: Reuters     16th March 2018 Gold held by Venezuela's central bank fell 14% in value in 2017 compared with the previous year, according to the bank's financial statement. Gold represents just under 70% of the bank's international reserves, which at the end of 2017 totaled $9.67-billion. 

Top banks' 2017 commodities revenue drops 42% to lowest since 2006

By: Reuters     16th February 2018 Commodities-related revenue at the 12 biggest investment banks fell by 42% last year to its lowest since at least 2006, a report by financial industry analytics firm Coalition said on Friday. 

Australian official confirms no federal financing for Adani mine

By: Reuters     5th February 2018 There will be no Australian federal financing of a loan facility for Indian conglomerate Adani Enterprises to build a rail line to its proposed Carmichael coal project, a government frontbencher confirmed on Sunday. Assistant minister for vocational education Karen Andrews told Sky News Speers... 

Goldman's most bullish on commodities since supercycle ended

By: Bloomberg     2nd February 2018 Goldman Sachs Group is more bullish on commodities than any time since the end of the supercycle in 2008. As economies around the world pick up, factories are humming, eating into stockpiles of raw materials and driving demand at miners and oil producers already facing limits on output. Copper,... 

Glencore, Chad are said to deadlock on $1bn debt deal

By: Bloomberg     29th November 2017 Talks between Chad, Glencore and a group of banks to restructure more than $1-billion in debt have stalled after the African nation rejected the commodities trader’s latest proposal to delay repayment of an oil-for-cash loan, according to people familiar with the negotiations. The negotiations... 

Iron-ore shape-shifters flip curve on bets demand to recover

By: Bloomberg     1st November 2017 Iron-ore’s in very unfamiliar territory. As China presses home its campaign to curb steel production, some investors are starting to wager that after a chill in winter, a torrent of pent-up demand will spur a springtime rebound in a move that’s shifted the shape of the futures curve. On the... 

Venezuelan bullion sales to dampen gold prices – CPM

By: Schalk Burger     27th October 2017 The prospect of the Venezuelan central bank disposing of more of its bullion holdings in the years to come will likely have a dampening effect on gold prices, commodities research and consulting firm CPM Group managing partner Jeffrey Christian says. The Venezuelan central bank allowed a... 

The Krugerrand's remarkable contribution to SA mining value-addition 

By: Ilan Solomons     6th October 2017 The gold bullion Krugerrand represents a most remarkable story from a beneficiation perspective, with more than 60-million pieces sold over the past 50 years. This equates to more than 1 660 t of local gold used in the process, and about 25% of all South African gold sold currently is in the form... 

Rio launches $1bn share buyback

By: Esmarie Iannucci     3rd August 2017 Diversified major Rio Tinto on Thursday provided more details of the $1-billion share buyback programme, announced in its interim results a day earlier. The $1-billion buyback is in addition to the $500-million buyback programme announced in February this year. Some $300-million of the original... 

Embattled Paladin secures new financing facility

By: Esmarie Iannucci     24th July 2017 The administrators of embattled uranium miner Paladin Energy have secured some $40-million of additional debt, announcing on Monday that they had entered into agreements with Deutsche Bank. Under the agreements, Deutsche Bank would acquire an existing $20-million revolving credit facility from... 

Explorer seeking partners to support its efforts to tap Mauritania’s mineral wealth

By: Ilan Solomons     7th July 2017 Mauritania has many mining investment opportunities, with economic, social and political conditions conducive to the pursuit of developing a sector considered strategic by the country’s government, says Oil, Energy and Mines Minister Dr Mohamed Abdel Vetah. He points out that the Mauritania... 

Implats launches dual convertible bond offerings

By: Martin Creamer     25th May 2017 Platinum mining company Impala Platinum (Implats) on Thursday launched dual convertible bond offerings to enhance the company’s short-to-medium term liquidity and maintain its strong financial position. Johannesburg Stock Exchange-listed Implats, headed by new CEO Nico Muller, is offering up to... 

AMSA secures R4.5bn funding facility

By: Megan van Wyngaardt     24th May 2017 ArcelorMittal South Africa (AMSA) has secured a R4.5-billion revolving structured commodity trade finance facility, which will allow the steel manufacturer to finance its working capital as part of its balance sheet restructuring. CEO Wim de Klerk said in a statement that the company had... 

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria

By: Ilan Solomons     22nd March 2017 Dual-listed Harmony Gold is aiming to increase its yearly gold production from the current 1.1-million to 1.5-million ounces over the next three years. This would be achieved by undertaking expansions at its operations in South Africa, the rest of Africa and Papua New Guinea, while also... 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     24th February 2017 All four units at Ingula are now commercial and produce a combined 1 332 MW. 

Iamgold shores up balance sheet with another $80m added to credit facility

By: Henry Lazenby     9th February 2017 The banking syndicate supporting Canadian gold miner Iamgold’s existing credit facility has added a commitment of $80-million to take the corporate facility $250-million. Canadian financial partners Royal Bank of Canada, the Toronto-Dominion Bank and Export Development Canada on Tuesday joined... 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     4th November 2016 Unit 3 of the Ingula-pumped storage scheme has been synchronised to the grid. 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     9th September 2016 Unit 1 of Eskom’s Ingula pumped-storage scheme entered into commercial operation on August 30. 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     26th August 2016 The second unit at State-owned electricity provider Eskom’s Ingula pumped-storage scheme entered into commercial operation on August 23. 

Stefano Marani

12th August 2016 This week we feature Stefano Marani, CEO of Renergen, an alternative energy company 

Ingula pumped-storage scheme project, South Africa

By: Mariaan Webb     29th July 2016 Eskom has expressed optimism that the full 1 332 MW plant will be completed ahead of its official timeline of July next year. 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     24th June 2016 The last of the four units at the project has been synchronised to the grid. 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     17th June 2016 Unit 4 of the Ingula pumped-storage power station has come into commercial operation. 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     27th May 2016 Despite a setback on Unit 3, the scheme remains on schedule for commercial operations in January 2017. 

Glencore cuts supply cloth to fit demand coat

By: Martin Creamer     4th May 2016 The mix of mining and marketing within the same company provides sensitivity to commodity price falls. Continually highlighting the value of the mining-marketing mix is Glencore, which is quick to respond to market changes. 

Large-scale solar farm entrenches Northern Cape as South Africa’s sun-power capital

By: David Oliveira     8th April 2016 Renewable-energy project developer Solar Capital last month inaugurated the second phase of its De Aar solar farm project, in the Northern Cape, with De Aar 3 adding 90 MW of capacity to the overall project. This was in addition to the first phase of the project, the 85 MW De Aar 1 solar farm,... 

Ingula pumped-storage scheme project, South Africa

By: Sheila Barradas     1st April 2016 Steady progress is being made at the project. 

Eskom efforts to ease grid bottlenecks for renewables backed up by World Bank agency

By: Terence Creamer     30th March 2016 The World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) announced on Wednesday that it had extended €698.9-million in guarantees to South Arica’s Eskom to support transmission infrastructure investments, which would help it alleviate prevailing grid bottlenecks to the connection of... 

De Aar solar project expanded to 175 MW 

30th March 2016 Renewable-energy project developer Solar Capital last month inaugurated the second phase of its De Aar solar farm project, in the Northern Cape, with De Aar 3 adding 90 MW of capacity to the overall project. 

Dividend to be considered at June board meeting – Harmony

By: Martin Creamer     17th March 2016 The resuscitation of dividends would be considered at the June board meeting of Harmony Gold, its FD Frank Abbott told investors on Thursday, against the backdrop of the highly leveraged gold mining company's market capitalisation having trebled since December 10. Speaking during a Deutsche Bank... 

De Aar solar project expanded to 175 MW 

By: David Oliveira     17th March 2016 Renewable-energy project developer Solar Capital has inaugurated the second phase of its De Aar solar farm project, with De Aar 3 adding 90 MW of capacity to the overall project. This was in addition to the first phase of the project, the 85 MW De Aar 1 solar farm, which came on line in August 2014. 

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