R/€ = 16.13 Change: -0.12
R/$ = 13.73 Change: -0.21
Au 1274.78 $/oz Change: -6.02
Pt 917.50 $/oz Change: -6.00


Pioneer warns of lower FY earnings, revenue

By: Anine Kilian     Updated 55 minutes ago JSE-listed Pioneer Foods on Monday warned shareholders its earnings for the year ended September 30, had likely halved. In a trading update, the company said its headline earnings a share for the full-year would be between R3.98 and R4.70, compared with R9.04 in the prior financial year. “Revenue... 

Petra reports strong Q1 performance, despite strike, Tanzania export ban

By: Creamer Media Reporter      Updated 5 hours ago Despite labour disruptions at LSE-listed Petra Diamonds’ Finsch, Koffiefontein and Kimberley Ekapa Mining (KEM) Joint Venture (JV) operations in late September, CEO Johan Dippenaar says the group achieved a strong start to the 2018 financial year. Production for the quarter was down 4%... 

Acacia-Tanzania proposed settlement on track – Barrick

By: Reuters     23rd October 2017 Barrick Gold said on Friday a proposed mining settlement it negotiated with Tanzania for its Acacia Mining unit was not under threat, even though Acacia said it could not immediately make a $300-million payment included in the deal. Barrick, which owns 63.9% of Acacia, announced on Thursday the... 

Acacia seeks further clarification on Barrick’s agreement with Tanzania govt

By: Creamer Media Reporter      20th October 2017 LSE-listed Acacia Mining is seeking further clarification from its parent company Barrick Gold, which owns 63.9% of Acacia, regarding the agreement that was reached between Barrick and the government of Tanzania on Thursday to resolve a tax dispute. The government and Barrick in July started... 

Rio is said to hold talks with Indonesia on Grasberg mine exit

By: Bloomberg     20th October 2017 Rio Tinto Group has held talks with Indonesian groups, including State-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio held meetings in recent weeks,... 

Nigeria seeks to boost mining reserves to lure investors

By: Bloomberg     20th October 2017 Nigeria plans to spend 15-billion naira ($42-million) over the next year to explore for minerals and attract investors into mining and reduce its dependence on oil, Solid Minerals Development Minister Kayode Fayemi said. “Because we are starting from a low base, we want to have a portfolio of... 

Marcus Wilkinson

     20th October 2017 This week we feature Marcus Wilkinson, a director at Concord Cranes Group, a provider of mobile crane hire, rigging, transport and associated services   

Data governance key for precise, accurate business intelligence systems

By: Schalk Burger     20th October 2017 The rules of data governance, defined as the management of the availability, usability, integrity and security of enterprises’ data, are critical for effective business intelligence (BI) tools, says Yellowfin South Africa distributor AIGS sales and marketing director Gustav Piater. Many modern BI... 

Mambilla hydroelectric power plant, Nigeria

By: Sheila Barradas     20th October 2017 Nigeria's Federal Executive Council has approved the construction of the project. 

Edradour & Glenlivet gas and condensate fields, Scotland

By: Sheila Barradas     20th October 2017 The Edradour and Glenlivet development plans to bring additional production capacity of up to 56 000 bbl/d of oil equivalent to Scotland. 

Miner defends Western Cape phosphate project, highlights its importance

By: Ilan Solomons     19th October 2017 Emerging miner Kropz has warned that the West Coast Environmental Protection Association’s (WCEPA’s) application to have the water-use license (WUL) for Kropz’s Elandsfontein phosphate mine, near Saldanha Bay, in the Western Cape, suspended, would, if successful, cause “irreversible environmental... 

Steel and Vanadium complex finds new life as industrial park 

     19th October 2017 A closed steel complex in Mpumalanga is finding new vigour as an industrial park, by focusing on providing key facilities for specialist services companies. 

Barrick Gold to give Tanzania mines stake and $300m to end dispute

By: Reuters     19th October 2017 Barrick Gold will give Tanzania a 16% stake in three gold mines, a 50% share of revenues from those mines and a one-off payment of $300-million to resolve a dispute that has hit its operations in the country, the two sides said. The Canadian miner and the Tanzanian government have been in talks... 

Woodside reports higher revenue in Sept quarter

By: Esmarie Swanepoel     19th October 2017 Australian oil and gas producer Woodside Petroleum has reported increases in sales volumes and revenues for the three months to September, compared with the previous quarter. Oil and gas production for the three months to September reached 20.3-million barrels of oil equivalent, which was down... 

India tightens gold import norms for export houses

By: Reuters     19th October 2017 ndia tightened gold import norms for export houses by restricting them from importing the yellow metal only for export purposes and not for selling in the domestic market, the government said in a circular on Wednesday. "...are permitted to import gold as input only for the purpose of... 

Keaton units perform in line with expectations – Wescoal

By: Anine Kilian     17th October 2017 JSE-listed Wescoal on Tuesday said the integration of Keaton was progressing well. Key technical and mining skills have been retained successfully and operational and financial performance, to date, from the Keaton business units are in line with expectations. 

China factories grapple with soaring prices as pollution crackdown bites

By: Reuters     17th October 2017 Chinese exporters at the country's biggest trade fair are more optimistic about global demand now than six months ago but Beijing's crackdown on pollution is ramping up costs and product prices, hurting smaller factories and foreign buyers. At the Canton Fair where some 25 000 manufacturers are... 

Seifsa president laments slow pace of metals sector transformation

By: Terence Creamer     13th October 2017 The slow pace of transformation in the metals and engineering sector continues to be of concern, Steel and Engineering Industries Federation of Southern Africa (Seifsa) president Michael Pimstein said during his presidential address in Johannesburg on Friday. He urged the sector, which represents... 

GM, suppliers to invest $500m in Argentina to produce new model

By: Reuters     13th October 2017 General Motors Co and its suppliers will invest a total of $500-million in Argentina operations through 2019 to prepare to produce a new Chevrolet model in 2020, the company said in a statement on Thursday. The company will invest $300-million while its supplier network will invest $200-million... 

PotashCorp completes Rocanville expansion

By: Henry Lazenby     13th October 2017 Canadian potash major Potash Corporation of Saskatchewan has completed an expansion at its Rocanville operation, more than doubling capacity and the work force to become the world’s largest potash mine. The $3-billion investment lifted the mine’s nameplate capacity to 6.5-million operation, up... 

Local defence industry needs both local and export orders

By: Keith Campbell     13th October 2017 Local orders are key to winning export contracts in the defence sector, Denel Land Systems (DLS) CEO Stephan Burger affirmed at the recent Aerospace, Maritime and Defence Conference in Pretoria. He cited the case of the order his company received for turrets for the Malaysian Army's new armoured... 

Not a cent available to implement the Defence Review, Wakeford warns

By: Keith Campbell     13th October 2017 The South African defence sector needs to bring home to the country the importance of defence for the technological, innovation and economic development of the country. So affirmed Armscor CEO Kevin Wakeford in his address to the recent fourth annual Aerospace, Maritime and Defence Conference in... 

BMW SA invests another R160m in Rosslyn plant

By: Irma Venter     13th October 2017 BMW Group South Africa (BMW SA) has invested an additional R160-million in its Rosslyn manufacturing facility, outside Pretoria, to enhance production line speed. This investment raises the maximum production capacity at the plant by almost 10%, from 71 000 units to 76 000 units a year, ensuring... 

Macroeconomy putting brakes on new-vehicle market

By: Irma Venter     13th October 2017 The poor macro-economic environment must be acknowledged as the most fundamental roadblock to the development of the local new vehicle market, and as a handbrake to manufacturing investment, says Audi South Africa head Trevor Hill. While the South African automotive market can expect to see... 

Angola grants gold exploration concession as it seeks to diversify economy

By: Keith Campbell     13th October 2017 A public/private partnership (PPP) has been granted a concession to prospect for gold in the Angolan province of Cabinda, the Macauhub news agency has reported. The PPP is named Mongo Mongo Mineração Limitada (Mongo Mongo Mining Limited). Its shareholders are the State-owned Empresa Nacional de... 

Duqm refinery, Oman

By: Sheila Barradas     13th October 2017 The project entails the construction of a high-efficiency refinery to produce naphtha, jet fuel, diesel and liquefied petroleum gas. 

R20bn Swazi Rail Link being prepared for presentation to investors before year-end 

By: Terence Creamer     12th October 2017 An expression of interest (EoI) for the R20-billion crossborder Swazi Rail Link infrastructure project between South Africa and Swaziland will be released to potential investors before the end of 2017, South Africa’s Transnet Freight Rail (TFR) and Swaziland Rail confirmed on Thursday. The 150 km... 

China gobbles Amazon rainforest ore to clean polluted skies

By: Bloomberg     12th October 2017 A bid by China to clean up pollution in its biggest cities and industrial towns is fueling a push to mine resource riches on the other side of the globe in the Amazon rainforest -- one of the most environmentally sensitive areas on Earth. Smog-laden skies across the world’s most-populated country... 

Minergy’s Botswana coal project given quantity, quality boost

By: Martin Creamer     12th October 2017 Coal mining and trading company Minergy on Thursday reported both a quantity and quality boost to its Masama coal project in Botswana. The company, headed by CEO Andre Bojé, plans to build an opencast coal mine at Masama with the potential to produce 2.4-million tonnes of coal a year. 

Acacia's gold production hit by Tanzania's export ban

By: Reuters     12th October 2017 London-listed gold miner Acacia Mining reported on Thursday a drop in production over the last three months, hit by work permit issues and reduced operations at its main Tanzanian mines. Acacia is caught up in a dispute with the Tanzanian government which banned the export of unprocessed minerals... 

Cokal raises A$4m to get started on BBM Stage 2

By: Esmarie Swanepoel     11th October 2017 Coal producer Cokal has announced plans to raise A$4-million to assist in funding the Stage 2 development of its flagship Bumi Barito Mineral (BBM) project, in Indonesia, as Stage 1 production continues apace. The miner on Wednesday reported that Stage 1 of the BBM asset was achieving... 

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Global steel recovery at risk from capacity ramp-ups outside China

By: Reuters     10th October 2017 The global steel sector's recovery from a glut-fuelled slump, driven by Chinese capacity cuts, is being put at risk by surplus capacity being built in the Middle East and Asia, sources and experts say. Figures from China show it has cut nearly 100-million tonnes of legal steel capacity and... 

IMF cuts South Africa growth forecasts as politics takes it toll

By: Reuters     10th October 2017 The International Monetary Fund cut its South African economic growth forecast for this year on Tuesday, saying rising political uncertainty has dented consumer and business confidence. The IMF said it expected South Africa's economy to grow by 0.7% this year, down from an earlier projection of... 

Brazil revives African ties, eyes expanding market

By: Reuters     10th October 2017 Agricultural powerhouse Brazil aims to revive ties with Africa after a lull and sees a vast export market for food and manufactured goods in a continent whose population is surging, its foreign minister said. Brazil's presence in Africa surged during the government of former President Luiz Inacio... 

Dismal outlook casts pall over new iron-ore mining season in Goa 

By: Ajoy K Das     10th October 2017 A slump in international prices, an absence of buyers and high carryover stocks have cast a pall of gloom over the new mining season in western Indian province of Goa. So much so, that no miner in Goa have resumed operations even though a new mining season officially started on October 1 – the of... 

Caledonia Mining sees golden opportunities in Zimbabwe dollar crisis

By: Reuters     9th October 2017 Caledonia Mining is seeking to expand in Zimbabwe, where output at its flagship gold mine has hit new highs and the country, gripped by a cash crisis, depends on it and other miners to generate currency. Zimbabwe is short of US dollars, a currency it adopted in 2009 after its own was wrecked by... 

Petra Diamonds warns of possible breach of lending covenants

By: Anine Kilian     9th October 2017 LSE-listed Petra Diamonds on Monday warned shareholders it was likely to breach lending covenants at the end of this year owing to labour disruptions at its South African mines and uncertainty around sales volumes from its Williamson mine, in Tanzania. The company last month said two earnings... 

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