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M&R expects significant improvement in interim HEPS

By: Nadine James     19th February 2019 JSE-listed engineering group Murray & Roberts (M&R) expects a significant improvement in total earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31. Basic EPS for the period are expected to increase by between 57% and 75% year-on-year to between 44c... 

Ramaphosa’s big growth plan threatened by power cuts

By: News24Wire      19th February 2019 A major 18-sector growth initiative is imperilled by power cuts now ripping up the economy, warns one of the architects of President Cyril Ramaphosa's signature growth strategy. At the State of the Nation Address (SoNA), Ramaphosa said the Public Private Growth Initiative, stewarded by Minister... 

Chinese traders freeze Australian coal orders amid 40-day customs delays - sources

By: Reuters     19th February 2019 Chinese coal traders have stopped ordering Australian coal as clearing times through China's customs have doubled to at least 40 days, according to major buyers in China and international coal merchants, resulting in a sharp fall in Australian prices. The traders and a broker said only cargoes... 

Jawa1 gas-fired independent power producer project, Indonesia

By: Sheila Barradas     15th February 2019 The project involves the construction of a fully integrated gas-to-power project. 

Australia miner Independence says in talks with potential buyers of battery chemicals

By: Reuters     6th February 2019 Independence Group, an Australian miner looking to move into making chemicals used in electric vehicle batteries, on Wednesday said it was in talks with a range of potential buyers of those products. The mid-tier miner trialled production of battery chemical nickel sulphate in December and... 

Newmont appoints Rio Tinto exec as new COO

By: Creamer Media Reporter      5th February 2019 Global gold miner Newmont has appointed Rio Tinto’s head of productivity Rob Atkinson as executive VP and COO with effect from June 1, the company announced on Monday. Atkinson will succeed Tom Palmer, who is taking over as CEO from Gary Goldberg, who will retire in the fourth quarter. 

Global demand for coal rises despite uncertainty

By: Kim Cloete     4th February 2019 Despite a move to renewable energy, particularly in Europe, demand for coal globally soared in 2018, led by low calorific value (CV) coal demand. The strongest import markets were China and India, while Indonesia performed extremely strongly on the supply side. China’s demand for coal... 

LafargeHolcim completes sale of $1.75bn Indonesian unit

By: Reuters     1st February 2019 LafargeHolcim has completed the sale of its Indonesia business in a deal which valued the unit at $1.75-billion, the cement maker said on Friday. Proceeds from the sale to Semen Indonesia will be used to pay down LafargeHolcim's debts, the company said. LafargeHolcim held 80.6% in the business,... 

Strong investment case for gold in 2019 – World Gold Council

By: Marleny Arnoldi     31st January 2019 Global gold demand in 2018 increased by 4% year-on-year to 4 345 t and was in line with the five-year average demand of 4 347 t. The World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report, published on Thursday, said the increase was driven by a 52-year high in central bank buying and... 

Gold gets a safe-haven boost – Refinitiv’s GFMS report 

By: Nadine James     30th January 2019 Gold has benefitted in the fourth quarter of 2018 from investors seeking safe-havens, the latest GFMS Gold Survey, which Refinitiv released on Wednesday, states. Renewed interest from professional investors and a shift in the purchasing behaviour of emerging market central banks have compensated... 

Newcrest reaches new heights at Cadia

By: Esmarie Iannucci     30th January 2019 Gold miner Newcrest Mining has reported a 19% increase in gold production for the quarter ended December, while all-in sustaining costs (AISC) for the quarter fell by A$58/oz. “Record production at Cadia and another sound performance from Lihir underpinned a strong start to the financial year,... 

Boost for international miners as India's thermal coal imports jump

By: Reuters     28th January 2019 India's 2018 thermal coal imports rose at the fastest pace in four years, according to two industry sources, despite moves by Prime Minister Narendra Modi's government to cut imports in a bid to reduce its trade deficit. Coal is among the top five commodities imported by India, one of the... 

Mining starts at Talang Santo

By: Esmarie Iannucci     24th January 2019 Mining and processing operations have started at the Talang Santo openpit gold/silver project, in Indonesia, following the receipt of environmental approval earlier this month. ASX-listed Kingsrose Mining MD Paul Jago said on Thursday that the Talang Santo pit was already performing beyond... 

Rio Tinto’s copper output, iron-ore shipments rise

By: Esmarie Iannucci     18th January 2019 Diversified major Rio Tinto has reported higher iron-ore and copper production for the quarter ended December, with other commodities remaining stable. “We delivered a solid operational performance in the final quarter of 2018, in particular across our copper assets,” said Rio CEO Jean-Sebastian... 

Monster gold-mining deals pile pressure on those left behind

By: Bloomberg     15th January 2019 Mark Bristow’s tenure as boss of the world’s biggest gold miner might have been short-lived, but his message for smaller rivals just got even more pointed. “Holy camoly, I missed out on a great opportunity!” is how Bristow described anyone not involved in Barrick Gold’s purchase of Randgold... 

Indonesia forecasts drop in Grasberg copper concentrate exports in 2019

By: Reuters     9th January 2019 Copper concentrate exports from Indonesia's Grasberg mine, the world's second-largest copper mine, are forecast to plunge this year because of a lag in output as operations move from open pit to underground mining, a government official said on Wednesday. In 2019, copper concentrate exports are... 

Africa, South America to drive copper mine capacity growth up to 2021 – ICSG 

By: Marleny Arnoldi     7th January 2019 The International Copper Study Group (ICSG) expects copper mine capacity to grow at an average rate of 2.2% a year up to 2021. The ICSG notes in its biannual ‘Directory of Copper Mines and Plants’ that the average is derived from the lower growth of about 0.5% seen in 2018/19 as compared to... 

Indonesian investor secured for Awak Mas

By: Esmarie Iannucci     12th December 2018 The Awak Mas gold project, in Indonesia, is one step closer to development after owner Nusantara Resources secured a local cornerstone investor. ASX-listed Nusantara told shareholders that on completion of a A$10.25-million capital raising, integrated energy and resources company PT Indika... 

New research finds developing countries’ coal miners face ‘substantial risk inequality’  

By: Tasneem Bulbulia     31st October 2018 Coal miners in developing countries are likely to be exposed to health and safety risks more often than those working in advanced economies, new research has found. Researchers from Cardiff University, funded by the Institution of Occupational Safety and Health (IOSH), have found that a lack of... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

Battery metal bulls fear China's big disrupter to hit nickel

By: Bloomberg     29th October 2018 Commodity traders expect nickel, the silvery-white metal used to make stainless steel, to be a winner from the electric-vehicle revolution -- it’s a key component of batteries. But a Chinese metals giant with a knack of upending markets is threatening to spoil the party. Tsingshan Holding Group... 

Cokal warns of possible fraud

By: Esmarie Iannucci     26th October 2018 Coal miner Cokal has flagged possible financial irregularities and fraudulent activities that could have impacted the company’s financial statements for the 2018 financial year. The ASX-listed miner on Friday said that the company’s board was currently investigating the irregularities and... 

Newcrest reports y/y increase in Q1 production

By: Esmarie Iannucci     24th October 2018 Gold miner Newcrest Mining reported a 5% increase in production for the quarter ended September 30, compared with the previous corresponding period, but output fell by 14% when compared with the June 2018 quarter Gold production in Newcrest’s first quarter reached 548 000 oz and the... 

Shopping centre benefits from 30 per cent water and energy savings as a result of Optidrive Eco and OptiflowTM

23rd October 2018 A major shopping centre near Jakarta, Indonesia is achieving at least 30 per cent savings in water and energy costs as a result of installing Invertek Drives Ltd’s OptidriveTM Eco variable frequency drives (VFD). The monthly water and associated energy costs at the Karawaci Shopping Mall, West... 

Arc exits Indonesia JV to focus on Ontario project

By: Esmarie Iannucci     19th October 2018 ASX-listed junior Arc Exploration has inked a binding sales agreement to divest of its joint venture (JV) interest in the Trenggalek copper/gold project, in East Java, Indonesia. The company has sold its interest to JV partner PT Sumber Mineral Nusantara for A$100 000, saying on Friday that the... 

Gulf cornerstone investor pulls out over mining moratorium risk

By: Esmarie Iannucci     17th October 2018 Manganese ore and alloy developer Gulf Manganese has lost a cornerstone investor in the midst of uncertainty around a moratorium on all mining activities in East Nusa Tenggara, Indonesia. Gulf Manganese in August this year announced a A$10.8-million investment from Indonesian businessman Bapak... 

Freeport CEO may be ready to sell, but does anyone want to buy?

By: Bloomberg     17th October 2018 Freeport-McMoRan’s annual LME Week party is usually an opportunity for CEO Richard Adkerson to hobnob with the traders and consumers who buy copper from his mining company. At this year’s event, he was surrounded by investment bankers. With its biggest stock overhang – a deal around its... 

Rio Tinto copper output jumps; iron-ore, aluminium production slip

By: Esmarie Iannucci     16th October 2018 Diversified major Rio Tinto has reported lower production across nearly all its commodities, besides copper, in the three months to September. “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the group’s copper assets,” Rio CEO... 

Polymer Concrete Market Growing At 3.5% CAGR To Reach USD 600 Million By 2025

12th October 2018 According to a new research report by Global Market Insights, Inc. Polymer Concrete Market size is forecast to exceed USD 600 million by 2025. High polymer prices may prove to become a obstacle in the growth of the polymer concrete market. Few resins, fibers or acrylates that are added to the... 

What’s changed and what remains the same 20 years after the launch of Google Search?

By: Natasha Odendaal     12th October 2018 As Google Search celebrates its twentieth year, the local division has revealed how South Africans use search, the significant surge in searches and overhauls underway to improve the popular feature. Google has experienced significant growth over the past two decades, starting from an offering in... 

RioZim to sue central bank over dollar payments

By: Reuters     9th October 2018 Zimbabwe's gold miner RioZim on Tuesday said it would take legal action to force the central bank to pay it in US dollars for part of its output, signalling impatience by mining companies over acute dollar shortages afflicting the economy. The shortages have worsened since 2016 and are the... 

Nene's IMF trip eases fears over his future

By: Reuters     9th October 2018 Finance minister Nhlanhla Nene is traveling to Indonesia for an International Monetary Fund (IMF) meeting, the Treasury said on Tuesday, a statement that may soothe markets a day after a media report that he had asked the president to sack him. The rand fell more than one percent on Monday when... 

Turkey puts import quotas on steel – WTO filing

By: Reuters     8th October 2018 Turkey will introduce quotas on the amount of steel it imports from Oct. 17, with an additional 25% duty on any imports above the quotas, it said in a filing published by the World Trade Organization on Monday, blaming a surge in imports. It said it had begun investigating the case for emergency... 

Awak Mas could deliver 100 000 oz/y

By: Esmarie Iannucci     4th October 2018 A definitive feasibility study (DFS) into the Awak Mas gold project, in Indonesia, has estimated that the project could produce 100 000 oz/y over an initial 11-year period. Owner Nusantara Resources on Thursday reported that the DFS estimated a post-tax net present value of $152-million and an... 

Finders reports another wall failure

By: Esmarie Iannucci     3rd October 2018 Junior Finders Resources has reported a wall failure within the Kali Kuning openpit operation at its Wetar copper project, in Indonesia. The company on Wednesday said that some 300 000 bank cubic meters of waste rock from the north-eastern highwall was displaced into the pit on October 1,... 

China battery firms set up $700m nickel JV in Indonesia

By: Reuters     28th September 2018 Chinese battery firm GEM on Friday said it was teaming up with four companies to invest a total of $700-million in a project to produce battery-grade nickel chemicals in Indonesia. The investment comes as several global metals producers have also set their sights on Indonesia's nickel reserves,... 

Freeport seals deal with Indonesia on giant Grasberg copper mine

By: Bloomberg     27th September 2018 Freeport-McMoRan and Indonesia signed an agreement, paving way for the US miner to hand over majority control of the giant Grasberg copper and gold mine to a local State-owned company. Freeport CEO Richard Adkerson and PT Indonesia Asahan Aluminium president director Budi Gunadi Sadikin signed... 

Indonesia plans news conference on $3.9bn Freeport copper mine deal

By: Reuters     27th September 2018 Indonesia's Energy Ministry plans to hold a ceremony on Thursday linked to a $3.9-billion share purchase deal involving Freeport McMoRan, Rio Tinto and state miner Inalum, it said in a document. The exact purpose of the ceremony, taking place at 4 p.m. Jakarta time (09:00 GMT), was unclear. A... 

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