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Finland takes top spot for mining-friendly investment

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Newcrest expects output to grow as shakes off disruptions

By: Bloomberg     16th February 2018 Australia's top gold miner, Newcrest Mining, expects output to grow in the coming months as its flagship site gradually ramps up after operations there were hit by an earthquake last year, its chief executive said on Friday. That comes a day after the company reported a 58% slide in underlying... 

Freeport, Amman awaiting green light on 2018 Indonesia copper exports

By: Reuters     15th February 2018 The Indonesian unit of Freeport-McMoRan and fellow copper miner Amman Mineral Nusa Tenggara (AMNT) are waiting for last-minute mining ministry approvals to their applications to extend copper concentrate exports, company officials said. Freeport's export permit for Grasberg, the world's... 

Newcrest Mining’s half-year profit takes a knock

By: Mariaan Webb     15th February 2018 Seismic activity at the Cadia mine in New South Wales and higher costs as result of a stronger Australian currency have contributed to the large decrease in interim underlying profit that gold miner Newcrest Mining reported on Thursday. For the six months ended December 31, the Australian... 

Lion Energy undertaking strategic review of assets

By: Simone Liedtke     14th February 2018 ASX-listed oil and gas exploration and production company Lion Energy is undertaking a strategic review of its assets, and following the changes to the board of directors, which is effectively immediately. On Wednesday, the company announced the strategic review, which is aimed at rationalising... 

Sappi moves to consolidate dissolving pulp leadership

By: Anine Kilian     9th February 2018 Pulp and paper producer Sappi plans to significantly expand its operations in South Africa, Europe and the US by 2020, starting with the preparatory work for the potential expansion of its South Africa-based Saiccor dissolving wood pulp (DWP) mill. The South African group supplies about 20% of... 

SA pulp and paper group moves to consolidate dissolving pulp leadership

By: Anine Kilian     9th February 2018 Pulp and paper producer Sappi plans to significantly expand its operations in South Africa, Europe and the US by 2020, starting with the preparatory work for the potential expansion of its South Africa-based Saiccor dissolving wood pulp (DWP) mill. The South African group supplies about 20% of... 

Coal buyers spooked by Indonesia's new shipping rules – association

By: Reuters     8th February 2018 Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would restrict exports to Indonesian vessels, an industry association said on Thursday. Jakarta issued rules in October requiring coal and palm oil... 

Many big new copper mines likely to be needed – Anglo

By: Martin Creamer     6th February 2018 Based on two relatively moderate and reasonable growth assumptions, the world will need the equivalent of another 22 Collahuasi copper mines to meet expected copper demand by 2030, Anglo American base metals marketing head Alex Schmitt said on Tuesday. Collahuasi, which Schmitt described as the... 

EU steel sector sees demand growth in 2018, import threat

By: Reuters     6th February 2018 European steel demand is set to rise in 2018 with continued strength in most steel-using sectors, European steel association Eurofer said on Tuesday, while warning of a threat of rising imports. Apparent steel consumption, which excludes the impact of inventory changes, is set to rise by 1.9% in... 

Kefi welcomes senior managers to executive committee

By: Megan van Wyngaardt     1st February 2018 Aim-listed gold and copper exploration and development company Kefi Minerals has expanded its senior management team as part of preparations for its development and operations. This includes the appointment of David Munro as head of operations, Eddy Solbrandt as head of systems and Brian Hosking... 

China demand and tight supplies set to sustain nickel price rally

By: Reuters     30th January 2018 A combination of surging China imports, tighter supplies and fund interest are expected to sustain prices of stainless steel ingredient nickel, which have reached their highest level in more than two years. Benchmark nickel on the London Metal Exchange hit $14 040/t on Monday, the highest since... 

Newcrest delivers significantly improved quarter

By: Mariaan Webb     30th January 2018 All but one of Newcrest’s five operations have delivered more ounces in the December quarter than in the previous quarter, the Australia-based gold major reported on Tuesday. Gold production increased by 17.2% quarter-on-quarter to 613 000 oz and copper production was up 33.8% quarter-on-quarter... 

Rio Tinto talks loom as a lifeline for Freeport in Indonesia

By: Bloomberg     26th January 2018 When it comes to finally reaching a deal to secure Freeport-McMoRan’s long-term right to keep mining in Indonesia, the ball appears to be firmly in Rio Tinto Group’s court. Over an almost two-hour conference call Thursday, CEO Richard Adkerson made it clear that the company’s efforts to get a... 

Freeport rises on Q4 earnings beat

By: Henry Lazenby     25th January 2018 The world's largest publicly listed copper producer Freeport-McMoRan has reported a better-than-expected headline profit for the three months ended December, as its focus on productivity, cost and capital discipline dovetailed with an improved market for copper. The Phoenix, Arizona-based miner... 

China's 2017 coal imports from Russia surge after N Korea ban – customs

By: Reuters     25th January 2018 China's coal imports from Russia and Mongolia soared in 2017, customs data showed on Thursday, as the two countries filled a supply gap caused by a series of trade sanctions on North Korea. Arrivals from Russia surged 36.3% from 2016 to 25.3 million tonnes, data from the General Administration... 

Eyeing China, US moves to strengthen Indonesian defence ties

By: Reuters     23rd January 2018 US Defense Secretary Jim Mattis said on Monday he would explore deepening defence ties during a visit to Indonesia, a country that appears increasingly ready to assert its sovereignty in the contested South China Sea. Mattis, ahead of talks in Jakarta, raised the possibility of greater maritime... 

Po Valley sells Italy operations subsidiary to Saffron Energy

By: Megan van Wyngaardt     23rd January 2018 Perth-based Po Valley on Tuesday signed a binding share sale and purchase agreement with Aim-listed Saffron Energy, under which the latter would acquire onshore and offshore oil and gas production, development and exploration assets in northern Italy held by Po Valley Operations (PVO). Subject to... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

By: Bloomberg     19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... 

Indonesia lays groundwork for transfer of Grasberg mine to local control

By: Reuters     12th January 2018 Indonesian regional and central government officials on Friday signed an agreement with state holding company PT Inalum that lays the foundation for the transfer of Freeport-McMoRan's giant Grasberg copper mine to local control. Indonesia and Papua have long pushed for greater control over... 

Indonesia hopes to finalise Freeport contract talks by June

By: Reuters     11th January 2018 Indonesia hopes to finalise contract talks with Freeport McMoRan over the Grasberg copper mine by June, although divestment issues are still unresolved, a mining ministry official said on Thursday. Indonesia and Freeport formed a framework agreement in August to transfer the company's rights to... 

Kingrose Mining starts trading on ASX again

By: Megan van Wyngaardt     18th December 2017 ASX-listed Kingsrose Mining on Monday reported that trading in its securities on the stock exchange would resume. The resumption of trading follows the restructure of Kingsrose’s finances, including a period of administration which saw creditors paid 100c in the dollar. The company is now... 

Rio Tinto not expected to relinquish interest in Freeport Indonesia until 2022 – govt official

By: Reuters     15th December 2017 Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday. "In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's... 

Assistance in overcoming bridge challenges

By: Simone Liedtke     15th December 2017 Industrial rope access specialist Skyriders Access Specialists installed temporary access platforms to allow for critical routine maintenance on the Crocodile river bridge, in Mbombela, Mpumalanga. 

Finders says shareholders are rejecting Eastern Field offer

By: Mariaan Webb     14th December 2017 Takeover target Finders Resources said on Thursday that Eastern Field Developments has not yet received a single acceptance of its A$0.23-a-share offer for the company, despite the bid having been open for 22 days. “The overwhelming support from shareholders is an emphatic rejection of Eastern... 

Indonesian consortium wants Finders to clarify ‘misleading’ target statement

By: Mariaan Webb     13th December 2017 The Indonesian consortium bidding for Australian miner Finders has extended its offer period to January 19, to allow the takeover target to clarify a number of “misleading” statements in the target statement. The target statement, which Finders sent to shareholders on December 5, is used to... 

India’s NLC aborts overseas coal acquisition plans

By: Ajoy K Das     12th December 2017 Indian miner and power utility NLC (formerly Neyveli Lignite Corporation) is seeking a global mine developer and operator to operationalise two of its coal blocks in Odisha. The group is expecting at least 20-million tons a year from these two assets, which have a combined reserve of 550-million... 

Record monthly output at Tembang

By: Creamer Media Reporter      5th December 2017 ASX-listed Sumatra Copper and Gold on Tuesday reported record monthly production from its Tembang gold/silver operation in Sumatra, Indonesia. Gold production for the month of November totalled 3 650 oz gold equivalent and is forecast to increase to 4 0000 oz gold equivalent in December. In 2018,... 

Glencore sees nickel in best shape in decade before EVs take off

By: Bloomberg     21st November 2017 Glencore is seeing the best market conditions for nickel in at least a decade, and electric cars are barely playing a part yet. The miner and trading giant expects nickel’s 2017 deficit at 170 000 metric tons -- one of the biggest in years and more than most market estimates – to be driven by a... 

Finders expects lower Dec quarter copper output, higher costs

By: Esmarie Swanepoel     17th November 2017 Copper miner Finders Resources reported on Friday that a delay at its Wetar copper project, in Indonesia, would see quarterly production remain below par. The company lowered its copper cathode production for the December quarter to be between 4 000 t and 5 000 t, from a previous estimate of... 

Indo Mines mulling bid from Rajawali

By: Esmarie Swanepoel     10th November 2017 The board of Indo Mines has advised shareholders not to take any action regarding a proposed off-market takeover bid from PT Surya Langgeng. The Indonesian company, which is a wholly owned subsidiary of PT Rajawali Corpora, on Friday announced its intention to make an all-cash offer of 2c a... 

400 emergency shutdown valves supplied to Oman petrochemicals project

     10th November 2017 Industrial product supplier Metso supplied 400 industry-leading Neles emergency shutdown (ESD) valves for an ethylene cracker as part of the new Liwa Plastics Industrial Complex (LPIC) project in Oman. The new complex will process light ends produced in State-owned oil company Oman Oil Refineries... 

Gulf secures power for Indonesian smelter

By: Esmarie Swanepoel     9th November 2017 ASX-listed Gulf Manganese has secured power for its Kupang smelting hub, in Indonesia. The company has inked a memorandum of understanding (MoU) with state-owned power utility PT PLN for the provision of up to 20 MVA power supply to the Kupang smelting hub facility, in West Timor. 

SA enterprise catches up with global counterparts on IT security

     7th November 2017 The IT security concerns, challenges and investment by South African enterprises is closely aligned with those of their international counterparts, according to a new global survey by network security specialists Fortinet. “Where as recently as two years ago, South Africa lagged the rest of the... 

Thiess wins A$300m coal contract

By: Esmarie Swanepoel     7th November 2017 Project house Cimic has been awarded a A$300-million contract to expand operations at the Sangatta coal mine, in Indonesia. The company on Tuesday reported that the contract would extend the current life-of-mine contract with Cimic subsidiary Thiess, increasing coal production by 12-million... 

Global airline association predicts air passenger traffic to double by 2036

By: Keith Campbell     3rd November 2017 The International Air Transport Association (IATA) has forecast that 7.8-billion people will travel by air in 2036. This will amount to a nearly 100% increase over the figure of 4-billion air passengers expected for this year. This projection is based on a average compound annual growth rate... 

Tembang production declines during Sept quarter

By: Esmarie Swanepoel     1st November 2017 ASX-listed Sumatra Copper & Gold has reported a slight decline in gold and silver production for the three months to September, as a higher proportion of waste was removed from its Tembang mine, in Indonesia. Gold production for the quarter declined from the 6 104 oz produced in the June quarter... 

Cartrack CEO dissatisfied with firm’s current double-digit growth rate

By: Irma Venter     27th October 2017 Despite compound five-year revenue growth of 20%, fleet management and vehicle tracking group Cartrack CEO Zak Calisto is not as happy as one expects him to be. “We want to grow faster than this. We are doing what the market is doing.” 

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