R/€ = 13.43 Change: 0.01
R/$ = 12.44 Change: 0.03
Au 1245.01 $/oz Change: -3.26
Pt 963.50 $/oz Change: -1.00


Tanzania gold export ban costing Acacia $1m a day in lost revenue

By: Megan van Wyngaardt     24th March 2017 The recent implementation of a gold and copper exports ban by the Tanzanian government is costing its largest gold miner, Acacia Mining, an average of $1-million a day in revenues. LSE-listed Acacia Mining on Friday said it was now taking a “range of actions” at its Bulyanhulu and Buzwagi mines... 

Freeport-McMoRan sees no material impact on output from Peru strike

By: Reuters     24th March 2017 Freeport-McMoRan said Thursday that a nearly two-week strike has not materially impacted production levels at its Cerro Verde copper mine in Peru, the country's biggest, though the union said output has been cut in half. The union is preparing to skirt an order by the labour ministry to return... 

Peat-to-power project, Rwanda

By: Sheila Barradas     24th March 2017 A $350-million deal to finance the project has reached financial close. 

Metair sees 7% drop in profit, signs supply agreement with Daimler

By: Irma Venter     23rd March 2017 Manufacturer, distributor and retailer of energy storage solutions and automotive components, Metair, has secured a multiyear supply agreement, from 2018 onwards, for the supply of enhanced flooded start/stop batteries to German car maker Daimler, in Europe, says MD Theo Loock. Speaking in... 

BMW SA invests in new warehouse, X3 production to start in 2018

By: Irma Venter     22nd March 2017 BMW Group South Africa (BMW SA) will, over the next two years, invest R400-million in a new regional distribution centre (RDC) and the expansion of its Midrand headquarters. The R400-million investment is in addition to the R6-billion injection, announced in November 2015, to prepare the... 

Anglo says South Africa reorganisation adds sale flexibility

By: Bloomberg     22nd March 2017 Anglo American said its decision to split some South African assets into a different subsidiary gives it the “flexibility” to dispose of its iron ore and export thermal coal assets should it decide to do so. The split, which was partly announced in February without reasons being given, means that... 

DTI urges captains of industry to take the lead in African trade

By: African News Agency      22nd March 2017 The South African Department of Trade and Industry (DTI) on Wednesday called on business leaders to take the lead in fighting poverty, unemployment and inequality on the continent through the promotion of regional trade. The department said in a statement that Seema Sardha, director of export... 

Current account deficit narrows to near 6-year low; inflation slows

By: Reuters     22nd March 2017 South Africa's current account deficit narrowed more than expected in the fourth quarter of last year to its lowest in nearly six years, helped by a surge in mining exports after a rise in global commodity prices, the central bank said on Wednesday. The rand extended gains against the dollar in... 

Australia's Pilbara Ports closes Dampier due to weather

By: Reuters     22nd March 2017 Pilbara Ports Authority, which operates Australia's largest iron ore export terminal, on Wednesday said it had closed its Dampier port due to bad weather, but the main port of Hedland remained open. The authority said it had activated a cyclone response procedure due to a weak tropical low... 

Chevron calls end of LNG mega project after $88Bn spree

By: Bloomberg     21st March 2017 Chevron Corp. has signaled the end of major new liquefied natural gas (LNG) projects in Western Australia and is unlikely to sanction an expansion of its Gorgon and Wheatstone export developments as it focuses on boosting returns from $88-billion of investment. The climate for developing large... 

Qld welcomes further investment in Surat basin

By: Esmarie Swanepoel     21st March 2017 The Queensland government has welcomed an announcement by oil and gas major Shell that the QGC joint venture (JV) would drill an additional 161 wells to expand operations in the Surat basin. Shell Australia on Tuesday said that the move would enable further supply to both domestic customers and... 

TransCanada to push ahead with C$1.4bn North Montney gas pipeline earlier than expected

By: Henry Lazenby     21st March 2017 Pipeline operator TransCanada has filed a variance application with the National Energy Board to proceed with construction of the North Montney Mainline Project (NMMP) ahead of schedule. The Calgary, Alberta-based oil and gas transporter has already been granted the required federal and... 

Climate change could have devastating effect on citrus crops

By: Anine Kilian     17th March 2017 Climate change could have a drastic effect on South Africa’s citrus crops, as pests, such as the Asian citrus psyllid, which causes the citrus greening disease, emerge in Africa. Speaking at the Agricultural Research Symposium 2017 in Centurion, on Friday, Agricultural Research Council (ARC)... 

Goldplat secures funding for Kilimapesa processing plant expansion

By: Megan van Wyngaardt     17th March 2017 Aim-listed Goldplat has, through its Gold Mineral Resources (GMR) subsidiary, entered into a $2-million uncommitted, on-demand, revolving pre-export loan facility with Scipion Active Trading Fund (SATF), arranged by Scipion Capital (Scipion). Goldplat is in the process of expanding the processing... 

DAFF to assist agricultural sector increase production  

By: Anine Kilian     17th March 2017 The Department of Agriculture, Forestry and Fisheries (DAFF) plans to boost agricultural production, which was severely affected by the drought in recent years. Addressing delegates at the Agricultural Research Symposium 2017 in Centurion, Gauteng, on Friday, Agriculture, Forestry and Fisheries... 

Sierra Leone pastor discovers 706 ct diamond

By: Reuters     17th March 2017 A Christian pastor has found one of the world's largest uncut diamonds – weighing 706 ct – in Sierra Leone's eastern Kono region. The stone, a photograph of which was posted on the president's official website, is being stored in the country's central bank, government sources said. 

Current Electric

By: Zandile Mavuso     17th March 2017 Established in February 1982 and acquired by electrical engineering group Actom Group in June 2008, current and transformers manufacturers Current Electric has been in the forefront of supplying ISO9001 accredited products globally.  

Export orders continue to flow for home-grown mobile load simulator

By: Dylan Slater     17th March 2017 The Mobile Load Simulator (MLS), designed and developed locally for the testing of the load-bearing capacity of highways and airport runways, was recently completed and exported to a client in China.  

Industry needs a trade association to stabilise and grow  

By: Victor Moolman     17th March 2017 Establishing a dominant instrumentation and control trade association in South Africa could help the local industry grow and mitigate possible absorption by international competitors, says Architects Integrating Industry (Ai2SA) MD Petrus Klopper. 

Inflation, competition and rand volatility challenges for industry

By: Johane Turkstra     17th March 2017 Unstable inflation and rand volatility, coupled with global competition, have been the biggest challenges for the food and beverage industry in South Africa in recent times, says derivatives brokerage Intrepid Capital derivative dealer head Tarryn Wright. 

Japanese consortium wins contract to build 140 MW Kenya geothermal plant

By: John Muchira     17th March 2017 A consortium led by Japan's Mitsubishi Corp has been awarded a $555-million contract to build a geothermal power plant in Kenya. Mitsubishi Corp will partner with Mitsubishi Hitachi Power Systems (MHPS), also of Japan, and Kenyan firm H Young & Co (HY) to construct a 140 MW geothermal power plant... 

Kusile power plant project, South Africa

By: Sheila Barradas     17th March 2017 The Kusile power station’s Unit 1 has reached its full 800 MW load-generating capacity after initial synchronisation on December 26. 

New controller increases memory and processing power

By: Victor Moolman     17th March 2017 Machine manufacturer Hurco Machine Tools’ Max5 control console, using WinMax software, is a forerunner in memory capacity, processing power and design in the machine tools industry in South Africa, says Hurco export sales manager Peter Guy. 

UK Minister forecasts major nuclear expansion over next 20 years

By: Keith Campbell     17th March 2017 It is estimated that, over the next 20 years, more than £930-billion will be invested in expanding civil nuclear energy capacity worldwide. This was affirmed by UK Secretary of State for International Trade Dr Liam Fox in his keynote address at the Civil Nuclear Showcase 2017 in London, at the... 

What to expect on trade agreements front in 2017

By: Taapano Paradza      17th March 2017 As far as trade agreements are concerned, 2016 was an unprecedented year, with significant activity occurring that had never been witnessed in the past decade. The Economic Partnership Agreement with the European Union and South Africa’s first trade agreement with South America, the Common Market... 

Strikers at BHP's Escondida mine in Chile block restart attempt at port

By: Reuters     16th March 2017 Striking workers at BHP Billiton's Escondida copper mine, in Chile, the world's largest, are blocking attempts by the company to renew operations at a key port nearby, BHP and an umbrella union said on Thursday, as the stoppage enters its sixth week. The company said on Tuesday it was gradually... 

Tanzanian ore export ban unlikely to be implemented – BMI

By: Megan van Wyngaardt     16th March 2017 Recent policies aimed at bolstering fiscal revenues, and a crackdown on tax evasion by the Tanzanian government, will increase investor uncertainty across various sectors and have a direct negative impact on the country's future growth, BMI Research's Africa Country Risk team said on Thursday.... 

Champion Iron acquires 735 iron-ore railcars

By: Henry Lazenby     15th March 2017 Iron-ore project proponent Champion Iron Ore has acquired an operational fleet of 735 specialised iron-ore railcars from Canadian Iron Ore Railcar Leasing, for $30.1-million. Champion chairperson and CEO Michael O’Keeffe on Wednesday said the acquisition brought the TSX- and ASX-listed company a... 

New agroprocessing-, metals-focused Ipap to be released next month

By: Schalk Burger     15th March 2017 A new Industrial Policy Action Plan (Ipap) focused on supporting the agroprocessing and metals industries, including foundries and the casting sector, will be released in April, Department of Trade and Industry (DTI) director-general Lionel October said at the Metal Casting Conference, in Kempton... 

Mikono Expo Group will Host the Dar Construction Trade Expo and the East Africa Smart Building Summit 2017 in Dar es Salaam,Tanzania!!

     15th March 2017 Tanzanian based company Mikono Speakers under her sister company Mikono Expo Group, which operates in Tanzania, South Africa and other African nations, is hosting the Dar Construction Trade Expo 2017. This esteemed event will take place along with the East Africa Smart Building Conference. More... 

South Africa's Engen to ship gasoil to Singapore in rare move – sources

By: Reuters     15th March 2017 South African petroleum company Engen is set to export a gasoil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35 000 t of gasoil to Singapore from Durban, shipping fixtures showed. 

New APDP must boost volumes, exports, says Merc SA CEO

By: Irma Venter     15th March 2017 Given the poor outlook for growth in sub-Saharan Africa since the sharp decline in oil and commodity prices, “it would be reasonable to conclude” that any government support programme for the South African automotive industry requires a “sustainable export strategy”, says Mercedes-Benz South... 

CoAL narrows interim loss

By: Creamer Media Reporter      14th March 2017 Triple-listed Coal of Africa Limited (CoAL) has narrowed its loss for the six months to December 31, to $12.97-million, from the loss of $14.2-million recorded in the six months to December 31, 2015. The narrowed loss was owing to a net foreign exchange gain of $2.9-million, compared with a net... 

Resgen secures $8.4m facility extension

By: Natasha Odendaal     14th March 2017 Dual-listed Resource Generation (Resgen) has obtained a further $8.4-million to fund the operations and development of the Boikarabelo mine, in the Waterberg coalfield, until project funding is secured. An extension of a March 2014 facility agreement with Noble Resources International, agreed on... 

Strike at Peru's top copper mine in 4th day, output at 50% – union

By: Reuters     13th March 2017 A strike at Peru's biggest copper mine, Freeport-McMoRan's Cerro Verde, stretched into its fourth day after a meeting between the union and management failed to resolve a dispute over labour demands, a union official said on Monday. The mine is now producing about half as much copper as it... 

Merc SA adds three AMG models to production line in R200m investment

By: Irma Venter     13th March 2017 Mercedes-Benz South Africa (MBSA) will, in the second half of the year, add three new derivatives to its production line at the company’s East London plant, in the Eastern Cape. The new derivatives are AMG models, which refers to Mercedes-Benz’s range of high-specification performance vehicles. 

India's Adani applies to Aus govt fund for coal mine railway financing

By: Reuters     13th March 2017 India's Adani Enterprises has applied for financing from an Australian infrastructure fund to build a rail line that is part of a $16-billion coal project in the state of Queensland, Australia's resources minister said on Monday. Financing from the A$5 billion Northern Australian Infrastructure... 

Strike halts output at top Peru copper mine Cerro Verde – union

By: Reuters     10th March 2017 Workers at Freeport-McMoRan's Cerro Verde started an indefinite strike on Friday that halted output of about 40 000 t/m at Peru's top copper mine, a union official said on Friday. Copper prices rose following the latest disruption to global supplies, amid a monthlong strike at BHP Billiton's... 

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