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Davies to launch revised business process services incentive scheme

By: Marleny Arnoldi     12th December 2018 Trade and Industry Minister Dr Rob Davies will, on Friday, launch the revised Global Business Process Services Incentive Scheme, while on a trip to London, in the UK. The launch of the revised incentive further supports and enhances South Africa’s value proposition, catalysing new investments... 

Barrick Gold eyes assets, exploration as it plots new phase 

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Barrick Gold aims to boost dividend in future – incoming CFO

By: Bloomberg     16th November 2018 Barrick Gold intends to grow future dividends via stronger operating cash flows, non-core asset sales and lower overhead and interest costs, the incoming CFO said in an investor presentation Friday. "The company has made it very clear that paying dividends will be a key deliverable and... 

Energy-saving lighting installed at Boxer DC

2nd November 2018 Magnet has added another energy-saving lighting installation to its repertoire, with the completion of an installation for the new Boxer Superstores distribution centre (DC) in East London, the company indicated in a statement in October. “Following the success of Magnet’s lighting installation... 

Encana to acquire shale oil producer Newfield for $5.5bn

By: Bloomberg     1st November 2018 After years of slimming down its oil and gas holdings, Canada’s Encana is reversing course with a $5.5-billion acquisition of a US shale producer in what will be the company’s biggest-ever deal. Encana agreed to purchase Newfield Exploration, which will give it positions in the Stack and Scoop... 

Kore shares soar on Kola DFS update

By: Mariaan Webb     1st November 2018 Shares in London-listed Kore Potash soared about 50% on Thursday, after the company provided a further update about the definitive feasibility study (DFS) for its Sintoukola (Kola) potash project, in the Republic of Congo. The potash explorer and developer said that the French consortium of... 

Centamin reports sharp drop in Q3 profit

By: Mariaan Webb     1st November 2018 Gold miner Centamin, which operates the Sukari mine in Egypt, has reported sharply lower third-quarter profit, as its revenue decreased by 35% year-on-year, reflecting lower gold production and sales. The London- and Toronto-listed miner posted profit of $10.23-million, compared with $34-million... 

Mining veteran wants to build a $1bn battery metals giant

By: Bloomberg     1st November 2018 South African mining veteran Brian Menell wants to build a battery material giant to help challenge China’s domination of the nascent industry. It’s still early days for his privately funded company, TechMet, which controls just a handful of assets from Canada to Rwanda. But he’s raising more... 

Charaat walks away from Kumtor, withdraws C$2bn offer to buy Centerra

By: Mariaan Webb     31st October 2018 London-listed Chaarat is no longer pursuing any transactions to buy the Kumtor mine, in Kyrgyzstan, from Centerra Gold, after the Canadian firm last month rebuffed a second proposal from the company. Chaarat in April proposed to buy the Kumtor mine as part of a three-way transaction between the... 

Chaarat gains exclusivity to Polymetal’s Armenia assets as it seals Kapan buy

By: Mariaan Webb     30th October 2018 Acquisitive junior Chaarat Holdings has struck a deal to buy the Kapan polymetallic mine, in Armenia, from fellow-London-listed Polymetal International for $55-million and has been granted an exclusive right to consider its other interests in the south-eastern European country. Announcing the... 

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... 

Greenpeace Africa affirms Mpumalanga is a nitrogen dioxide air pollution hotspot

By: Marleny Arnoldi     29th October 2018 Greenpeace Africa states that analysis from satellite data between June 1 and August 31 shows that Mpumalanga is the world’s largest nitrogen dioxide air pollution hotspot across six continents. The data points to coal and transport as the two principal sources of the nitrogen dioxide air... 

Draft Companies Amendment Bill

By: Creamer Media Reporter      29th October 2018 The Department of Trade and Industry (“DTI”) has published the Companies Amendment Draft Bill (the “Bill”) for public comment. Interested parties may submit comments to the DTI by 20 November 2018. The Bill seeks to make amendments to Companies Act No. 71 of 2008 (the “Companies Act”). The reason... 

China cutting rare earth output, unnerving global manufacturers

By: Reuters     25th October 2018 The Chinese government is limiting domestic production of rare earth minerals in the second half of the year, a move likely to crimp international exports and send prices for the critical materials higher, according to data from Adamas Intelligence. China is by far the world's largest producer... 

Central banks to increase gold buying for first time since 2013  

By: Bloomberg     24th October 2018 Central banks are set to increase their purchases of gold in 2018 for the first time in five years as eastern European and Asian countries seek to diversify their reserves. Net purchases of gold by central banks are forecast to rise to 450 metric tons this year, up from 375 tons in 2017,... 

Fresnillo cuts silver guidance, tweaks gold forecast

By: Mariaan Webb     24th October 2018 Despite reporting a 6.3% increase in third-quarter silver production, Mexican precious metals miner Fresnillo on Wednesday lowered its production forecast for the year, citing “continued challenges” at the Saucito and Fresnillo mines. The company reported that the third quarter’s silver... 

Antofagasta narrows 2018 guidance, targets higher output next year

By: Mariaan Webb     24th October 2018 Copper miner Antofagasta has taken 15-million tonnes off the top-end of its production guidance for the year, but maintained its positive outlook for 2019 despite trade tensions clouding the market outlook. The London-listed miner narrowed its copper production guidance to between 705 000 t and... 

Pyrotec and The Age of Agile

By: Creamer Media Reporter      24th October 2018 The Age of Agile is the title of Steve Denning’s most recent book that describes a shift in business to adopt an agile mindset for management, leadership, innovation and narrative. Having taken root in the software development sector, Steve describes how the Agile Movement is now spreading... 

Barrick is said to favour taking back control of Acacia Mining  

By: Bloomberg     24th October 2018 Barrick Gold favours taking back control of its separately listed Tanzanian assets after completing its takeover of Africa-focused rival Randgold Resources, according to people familiar with the situation. Barrick spun off those assets in 2010 into a company now called Acacia Mining. That unit –... 

Palladium reaches record on mounting concerns over tight supply

By: Bloomberg     23rd October 2018 Palladium, a precious metal widely used in the automotive industry, has hit an all-time high. The rally has been fueled by concern over supply and speculators piling in to bet on even higher prices. The majority of palladium is used to make catalytic converters in gasoline automobiles, and... 

US Justice Dept demands details from Glencore on intermediary firms – sources

By: Reuters     23rd October 2018 The US Department of Justice is seeking documents from Glencore about intermediary companies that the commodities firm has worked with in the Democratic Republic of Congo, Venezuela and Nigeria, sources familiar with the matter said. The investigation is not directed at Glencore's own activities... 

Pathfinder raises £150k

By: Creamer Media Reporter      23rd October 2018 London-listed Pathfinder Minerals, which seeks to mine heavy mineral sands in Mozambique, has conditionally raised £150 000 through a share subscription with new and existing investors, including nonexecutive cochairperson Simon Farrell and CEO Scott Brown. The proceeds from the subscription... 

There is room for more ride-hailing services, says Taxify country manager

By: Irma Venter     23rd October 2018 Taxify believes there is room for another electronic ride-hailing service in South Africa. US-based Uber started operations in South Africa in 2013, with Estonia’s Taxify moving into the country in 2016. 

How strong steel might kill off the next big battery metal story

By: Bloomberg     23rd October 2018 Vanadium’s astonishing rally is threatening its chances of being the next big battery metal. Prices have surged more than 800% in about two years, driven by Chinese demand for stronger steel. There’s also been speculation that vanadium will become a key metal for the battery industry. But with... 

Uranium market's Aramco unveils London IPO despite Trump threat

By: Bloomberg     22nd October 2018 The initial public offering (IPO) of the world’s largest oil producer Saudi Aramco may be on the back burner, but the IPO of its uranium-market equivalent is full steam ahead. Kazatomprom, the world’s No. 1 producer of the nuclear fuel, on Monday said it would list as much as 25 percent of its... 

PERI provides solution for gatehouse arch at Yekani Manufacturing

22nd October 2018 A requirement for smooth off-shutter concrete work at the arched gatehouse to ICT group Yekani Manufacturing’s new R1 billion factory in the East London Industrial Development Zone saw main contractor WBHO turn to PERI South Africa to provide a complete architectural solution. The leading... 

Glencore CEO said to tell investors he'll retire in 3 to 5 years  

By: Bloomberg     22nd October 2018 Ivan Glasenberg, who built Glencore into a dominant force in commodities trading and became the face of the industry, told investors he plans to retire in three to five years, according to people familiar with the matter. Glasenberg discussed his succession plan in recent meetings and said he has... 

Petra delivers sound Q1 production

By: Tasneem Bulbulia     22nd October 2018 London-listed Petra Diamonds achieved a solid operational performance in the three months ended September 30 – the first quarter of its 2019 financial year. Production for the period increased by 21% year-on-year to 1.07-million carats, mainly as a result of a 25% increase in run-of-mine... 

Starbucks Evolves Structure in EMEA to Accelerate Long-Term Strategic Growth

22nd October 2018 Intention to fully license Starbucks operations with longstanding business partner, Alsea, in France, the Netherlands, Belgium and Luxembourg Company introducing a new support structure in the EMEA head office to better serve an increasingly-licensed regional strategy; Intends to close support... 

Flow of LME nickel to hidden storage dents bull story

By: Reuters     19th October 2018 The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, analysts said, denting a bullish scenario of potential shortages. LME nickel stocks have shrunk by about 40% this year, largely from warehouses in Malaysia, Taiwan... 

Why a no-deal Brexit risks freezing London's diamond trade

By: Bloomberg     19th October 2018 The UK has warned that a no-deal Brexit risks London being frozen out of the global diamond trade. Britain is a member of the Kimberley Process, the global certification program used to track and prevent the trade of conflict gems, through its European Union membership. The country will need to... 

Gold merger will create industry 'superpower'

By: Rebecca Campbell     19th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto stock exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq stock exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

Acacia Mining threatens to invoke investment treaty in Tanzania dispute 

By: Reuters     19th October 2018 Acacia Mining said on Friday it would seek direct dialogue with Tanzania over a long-running tax dispute and threatened to invoke a bilateral investment treaty should a settlement not be reached. Acacia's parent Barrick Gold has been negotiating with the Tanzanian government on behalf of... 

De Beers eyes tech markets for synthetic diamonds future 

By: Reuters     19th October 2018 Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting. Element Six, De Beers' synthetic diamond arm, is building a $94-million factory in Portland, Oregon, an... 

SA-linked startup wins UK competition to build hyperloop-type solution

By: Irma Venter     19th October 2018 UK company Magway has won co-funding support of more than £650 000 from Innovate UK, through its emerging and enabling technologies competition, to build a 150 m hyperloop-type demonstration link for high-speed package delivery, east of London. Innovate UK is the UK government’s Research Agency. 

SA-linked startup wins UK competition to build hyperloop-type solution

By: Irma Venter     19th October 2018 UK company Magway has won co-funding support of more than £650 000 from Innovate UK, through its emerging and enabling technologies competition, to build a 150 m hyperloop-type demonstration link for high-speed package delivery, east of London. Innovate UK is the UK government’s Research Agency. 

Nigeria central bank, MTN getting closer to settlement – Minister

By: Reuters     18th October 2018 Nigeria's central bank and South African telecommunications firm MTN could soon strike a deal in their dispute over the repatriation of $8.1-billion, Nigeria's information minister said on Wednesday. The central bank says MTN transferred $8.1-billion of funds out of Nigeria in breach of... 

Strongbow unveils financing deal, still aiming for 2018 London listing

By: Mariaan Webb     17th October 2018 Strongbow Exploration, the company that is seeking to revive the South Crofty tin mine in Cornwall, south-west England, is still targeting a listing on London’s Aim exchange this year, president and CEO Richard Williams said on Wednesday, while announcing a financing and offtake agreement with... 

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