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India takes US steel tariffs complaint to the WTO

By: Reuters     Updated 6 hours ago India has launched a complaint against the US to challenge President Donald Trump's tariffs on steel and aluminium, a filing published by the World Trade Organization (WTO) showed on Wednesday. Indian officials told Reuters last month that their government would open a WTO dispute if the... 

Vedanta working with regulators to restart Indian copper smelter

By: Reuters     23rd May 2018 British mining and energy group Vedanta Resources is working with regulators to expedite restarting its copper smelter in the southern Indian state of Tamil Nadu, it said on Wednesday, a day after protests turned violent at the plant. The company also posted a 27% rise in full-year core profit... 

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Japan, Russia, Turkey bring potential US tariff retaliation to $3.5bn

By: Reuters     22nd May 2018 Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminium, the World Trade Organization said on Tuesday, bringing the total US tariff bill to around $3.5-billion annually. The three countries detailed their compensation claims in... 

Alrosa reopens office in world’s largest diamond jewellery market

By: Creamer Media Reporter      22nd May 2018 Russian diamond miner Alrosa has successfully held its first auction in two years in the US, following the recent reopening of its representative office in New York. The New York office was first opened in 2006, but has not operated since 2016. 

Operational due diligence important to mitigating risk

By: Anine Kilian     21st May 2018 Investing in operational risk management is key to mitigating corporate fraud, poor governance and simple errors which result in losses for companies and consequently investors, Mercer Sentinel Africa Middle East, India and Turkey head Nigel Morriss said on Monday. Addressing media at a briefing... 

Kropz clinches offtake from phosphates project

By: Martin Creamer     21st May 2018 Plant nutrient minerals development company Kropz, which is developing the Elandfontein phosphates mining and processing project in the Western Cape, has secured several offtake agreements ahead of production. The cornerstone offtake agreement, for about a third of its production at market prices... 

Pallinghurst sells 56% of carats on offer at Zambia auction

By: Simone Liedtke     21st May 2018 JSE-listed Pallinghurst Resources, which owns 100% of Gemfields, has sold 56% of the carats on offer at an auction of higher-quality rough emeralds held in Lusaka, Zambia. The auction, which took place earlier this month, saw 31 companies placing bids and generated revenue of $10.3-million, with... 

Corobrik sponsors masterclass which demonstrates a vision of an accessible, safe and thriving city

21st May 2018 As part of ArchitectureZA 2018, an urban cultural festival focused on architecture, Corobrik sponsored a masterclass, which was held on Saturday, May 5. Entitled “The 495 CITY”, 26’10 South Architects, with guest speakers Sameep Padora from India and Peter Barber from the UK, explored and... 

Global effort against climate change cannot be postponed – Basic countries

By: News24Wire      21st May 2018 The Basic countries, comprising Brazil, South Africa, India and China, have reiterated that the global effort against climate change is an irreversible process that cannot be postponed. This was said following the 26th Basic Ministerial Meeting on Climate Change, held in Durban over the weekend.... 

Mining gear maker Metso picks CEO from Finnair

By: Reuters     21st May 2018 Finnish engineering company Metso said on Monday it had picked Finnair CEO Pekka Vauramo as its new chief executive officer. Vauramo is expected to bring stability to the business following the surprise departure of the previous CEO Nico Delvaux after less than a year in the job. 

Young, bridal jewellery consumers to drive platinum demand

By: Nadine James     18th May 2018 Young, bridal and self-purchasing jewellery consumers are emerging to contribute to platinum demand growth this year, the Platinum Guild International (PGI) reports. In its ‘2017 Platinum Jewellery Business Review’, the PGI found strong consumer retail sales growth in the US, Japan and India for... 

Australia’s MCA welcomes gold report

By: Esmarie Swanepoel     18th May 2018 The Minerals Council of Australia (MCA) has welcomed a new report by the World Gold Council (WGC), which states that gold will continue to be valued over the next 30 years, with new uses for gold meaning new opportunities for producers. “New uses for gold including in antibiotics, smartphones... 

Safety valves manufacturer invests in growth, celebrates 200 years

18th May 2018 European safety valves manufacturer Leser celebrates its 200th anniversary this year, with the share of its profits last year spent on the development of its facilities amounting to €35.3-million. Leser’s service and products in South Africa are offered through its sole local distributor,... 

Block KGD6 – Satellite cluster, India

By: Sheila Barradas     18th May 2018 Block KGD6 is developing the Satellite cluster – a dry gas development comprising four discoveries.  

Diamond jewellery demand at all-time high – De Beers

By: Simone Liedtke     17th May 2018 Global consumer demand for diamond jewellery hit a new all-time high in 2017, climbing to $82-billion, a 2% increase on the previous year, according to industry insight data published by De Beers on Thursday. The US was the main driver of growth for the fourth consecutive year, where positive... 

India reverses decision to privatise small, ageing oil and gas fields

By: Ajoy K Das     17th May 2018 Reversing its earlier decision to privatise small, ageing or underperforming oil and gas fields held by national exploration and production (E&P) companies, the Indian government has now directed companies to submit time-bound action plans to boost production from these assets. Earlier this year,... 

India keen to do business with Africa’s energy sector

By: Kim Cloete     17th May 2018 Representatives from more than 45 Indian companies have been in Cape Town for the African Utility Week, with the hope of cracking deals in everything from the supply of galvanised wire to solar inverters and water generators.  Indian Chamber of Commerce director general and CEO Rajeev Singh... 

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target

By: Terence Creamer     16th May 2018 Energy Minister Jeff Radebe says one-quarter, or $25-billion, of South Africa's newly announced five-year investment target of $100-billion could be met through investments in new energy projects, including a possible new greenfield crude oil refinery and a gas pipeline linking South Africa to... 

Farnese blue diamond, with 300-year royal history, fetches $6.7m

By: Reuters     16th May 2018 The Farnese Blue diamond, which was passed down through European royal families for 300 years, sold at auction in Geneva on Tuesday for 6.7-million Swiss francs ($6.7-million), beating auctioneers Sotheby's estimate of 3.5-million to 5-million Swiss francs. The 6.16 ct, dark grey-blue gem from... 

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs

16th May 2018 The full text of Public Enterprises Minister Pravin Gordhan’s Budget Vote speech to Parliament on May 15. In it, the Minister warns that it has become evident that several State-owned companies (SOCs) will not be able to trade and borrow their way out of their financial difficulties and that some... 

UAE trader looking to expand into gold refining in Africa

By: Reuters     15th May 2018 Privately held gold trader Sakthi Trading Group is planning to build two gold refineries in Africa and is looking for investors for the projects, company executives said on Tuesday. The group, headquartered in the United Arab Emirates, is seeking a total investment of $246-million for the... 

Botswana President eyes jobs in new 'marriage' with De Beers

By: Bloomberg     15th May 2018 Botswana’s President, Mokgweetsi Masisi, wants a new long-term diamond-sales pact with De Beers when the current ten-year deal expires in 2020 and for more gems to be processed locally. The conclusion of an accord is crucial for both Botswana, which relies on diamonds for almost a fifth of its... 

Ramaphosa appoints Mabuza as Russia envoy

By: News24Wire      14th May 2018 President Cyril Ramaphosa has appointed Deputy President David Mabuza as his special envoy to Russia, according to a statement from the Presidency. The move appears to set a point of departure on South Africa’s role in the BRICS group of emerging economies which include Brazil, Russia, India and... 

On-The-Air (11/05/2018) 

By: Martin Creamer     11th May 2018 The big new Indian shareholder in Anglo American is calling on the London-listed company to accentuate its South Africa link. Africa’s most successful gold mining company this week warned that gold mining is running the risk of becoming an irrelevant investment destination. Mapungubwe head Joel... 

India's thermal coal imports rise over 15% in Q1 – trader

By: Reuters     11th May 2018 India's thermal coal imports rose by more than 15 percent in the first three months of 2018, with Indonesia accounting for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. India's rising coal imports are... 

Lionsgold share trading suspended following TRAC acquisition

By: Mariaan Webb     11th May 2018 Trading in the shares of Lionsgold on London’s Aim has been suspended on the basis that the recent acquisition of TRAC Technology is considered a “fundamental change of business”. The company’s ordinary shares will be suspended until it complies with the Aim’s Rule 14, which deals with reverse... 

Ministers from SA and India stress bilateral opportunities at business summit

By: Rebecca Campbell     11th May 2018 India has progressed from having almost no trade with South Africa in 1994 to today being the country's sixth to eight largest trading partner, South African Trade and Industry Minister Dr Rob Davies has highlighted. He was addressing the recent India-South African Business Summit in Sandton,... 

Gold investment seen critical in managing emerging market portfolio performance – WGC

By: Henry Lazenby     10th May 2018 Gold is a proven store of value, especially for its role in safe-haven investment in times of geopolitical crises, but according to new analysis from the World Gold Council (WGC), the yellow metal plays a critical role in portfolios with exposure to emerging markets (EM). The WGC notes in its... 

World investors look to Zimbabwe

10th May 2018 Infrastructure stakeholders from around the world are showing keen interest in Zimbabwe as a new spirit of optimism takes root in the country. 

US exit of Iran nuclear deal places new risks on $4bn India gas project

By: Ajoy K Das     10th May 2018 US President Donald Trump’s tearing up the multilateral nuclear deal with Iran has thrown a new spanner in works of India’s protracted plans to develop Farzad B offshore gasfields along the Persian Gulf coast. The consortium of Indian companies, led by national exploration and production (E&P)... 

DST committed to making inroads despite tight budget

By: Kim Cloete     9th May 2018 The Department of Science and Technology will be working on a tight budget of R7.8-billion this year, but hopes to make inroads in programmes and innovations across South Africa. The money will be used to address transformation, through key research, development and support initiatives.  

Economic mobility in developing countries has stalled for the last 30 years – World Bank

By: Anine Kilian     9th May 2018 Economic mobility has been impeded in developing countries over the last 30 years, says the World Bank in its ‘Fair Progress? Economic Mobility across Generations Around the World’ report, released on Wednesday. The report, which tracks economic mobility between parents and their children through... 

Stats SA to roll out digital data collection solution, starts preparation for 2021 census

By: Simone Liedtke     9th May 2018 Statistics South Africa (Stats SA) continues to focus on its mandate of providing credible statistics to guide South Africa’s push for a better life for its citizens. Priorities for Stats SA include maintaining basis statistics which, according to Minister in the Presidency for Planning,... 

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Renewable energy jobs reached 10.3m globally in 2017

By: Marleny Arnoldi     8th May 2018 The renewable energy industry created more than 500 000 jobs globally last year – a 5.3% year-on-year increase, says the International Renewable Energy Agency (Irena).  

Indian iron-ore production at 7-year high, but unsold low-grade stocks pile up

By: Ajoy K Das     8th May 2018 Indian iron-ore production has touched a seven-year high of 210-million tons during 2017/18, but industry is facing a piquant situation of a mounting stockpile of unsold carryover low grade iron-ore lumps and fines. Official state-wide production figures are yet to be compiled for last financial... 

South African NPO suing Indian IT multinational for intellectual property theft

By: Marleny Arnoldi     4th May 2018 One of India’s largest multinational companies, information technology firm Wipro, is being taken to court for allegedly appropriating the intellectual property (IP) of a small South African nonprofit organisation.  

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