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Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Cape Town to take delivery of 11 electric buses by year-end

By: Irma Venter     24th March 2017 Cape Town’s fleet of eleven electric buses are scheduled for arrival by the end of 2017, “operating by the beginning of 2018, or sooner”, says Cape Town Transport and Urban Development Authority (TDA) commissioner Melissa Whitehead. The buses will be supplied by Chinese green energy firm BYD, in... 

Nuclear build programme will bring immense benefits 

By: Kelvin Kemm     24th March 2017 South Africa builds and exports Mercedes-Benz vehicles from East London.  BMW cars are built in Pretoria, as are Ford cars. Other vehicle brands are also built are this country.  I have toured the BMW and Ford plant several times, and I can assure you that what you see is South African workers... 

Diamond group De Beers buys out retail partner LVMH

By: Reuters     23rd March 2017 Anglo American's diamond specialist De Beers has bought the 50% stake held by French luxury goods group LVMH in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. Analysts said the joint venture no longer fitted LVMH's strategy, while Anglo American,... 

Maxiflex welcomes customers to their doors

     23rd March 2017 Maxiflex has been a specialist and trusted supplier of a fully comprehensive range of high quality, efficient and reliable door and dock loading solutions to the Southern African industry for 27 years. Alongside the renowned in-house Maxiflex brands, the company also boasts sole distribution... 

Russia's Alrosa expects 6% fall in first-quarter diamond sales

By: Reuters     22nd March 2017 Russian diamond miner Alrosa expects its first-quarter sales to be down 6% at $1.25-billion compared with a year ago, the state-controlled company said in a presentation for its investor day on Wednesday. Alrosa, the world's largest producer of rough diamonds, plans to increase diamond output to... 

Kenmare swings to FY profit on the back of record production

By: Anine Kilian     22nd March 2017 London-listed Kenmare Resources recorded earnings before interest, taxes, depreciation and amortisation (Ebitda) of $5.2-million for the year ended December 31, a turnaround from the loss of $11.5-million recorded in the prior financial year. Heavy minerals concentrate production increased 28%... 

New British factory turns London's black cabs green

By: Reuters     22nd March 2017 The Chinese-owned maker of London's black cabs opened a new factory in central England on Wednesday to produce electric taxis which it also hopes to sell overseas for the first time to cities keen on the famous brand and concerned about pollution. The London Taxi Company plant near the city of... 

Endeavour, Acacia end merger talks

By: Henry Lazenby     22nd March 2017 Canadian gold miner Endeavour Mining has halted discussions with London-listed Acacia Mining regarding a potential merger. Endeavour, which operates a portfolio of gold mines in West Africa, has held talks with Acacia – which is majority owned by Canada's Barrick Gold – since mid-January. 

Dominion Diamond should open books to potential suitors – top shareholder

By: Reuters     22nd March 2017 Dominion Diamond, target of a $1.1-billion unsolicited bid, should run a formal sales process for the company and open its books to what could be several interested parties, Dominion's biggest shareholder told Reuters on Tuesday. The board of Dominion, the world's third-largest diamond producer... 

Anglo American readies bond market return

By: Reuters     21st March 2017 Anglo American is poised to sell its first public bond since it was stripped of its investment-grade status last year following the shock capitulation of global commodity prices. The mining company, rated Ba1/BB+, is expected to sell a US dollar and/or euro-denominated bond on Wednesday, after... 

Big banks talking to Rio Tinto's specialist new Ventures arm

By: Reuters     21st March 2017 London bankers are vying for contracts after Rio Tinto said it had set up a new unit, Rio Tinto Ventures, to develop more specialised mining prospects as it seeks to reduce its reliance on bulk commodities, three banking sources said. The big miners have traditionally relied on producing... 

$60m 'Pink Star' diamond goes back on sale next month

By: Reuters     21st March 2017 A 59.60-ct diamond known as "The Pink Star" is returning to auction next month and could fetch a record $60-million, three years since it was sold for even more - only for the buyer to pull out of the deal. The diamond was presented by Sotheby's in London ahead of the auction in Hong Kong on... 

$60m 'Pink Star' diamond goes back on sale next month

By: Reuters     20th March 2017 A 59.60 ct, mixed cut diamond known as "The Pink Star" is returning to auction next month and could fetch a record $60 million, three years since it was sold for even more - only for the buyer to pull out of the deal. The diamond was presented by Sotheby's in London ahead of the auction in Hong... 

Congo sees Trump roll-back of Dodd-Frank stoking insecurity

By: Bloomberg     20th March 2017 The Democratic Republic of Congo (DRC) warned that proposals by the Trump administration to roll back laws on so-called conflict minerals from central Africa risks stoking violence by armed groups in the region. The suspension of Section 1502 of the Dodd-Frank Act “in the long run, will... 

Vedanta already turning Anglo’s discarded zinc assets to account 

By: Martin Creamer     17th March 2017 Diversified mining company Vedanta, which is being associated with the acquisition of 13% of the equity of Anglo American by Volcan Investments because of the link both these entities have with Indian billionaire Anil Agarwal, has done well with the South African assets it acquired from Anglo... 

Mining's biggest loser Lonmin is burning cash to stay alive

By: Bloomberg     17th March 2017 For most of the mining industry, 2017 is turning out to be another good year. The big exception is Lonmin Plc. Investors are losing confidence in the world’s third-largest platinum producer as it burns through cash to stay afloat, just 15 months after raising about $400 million from shareholders.... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Junior miners under strain as investors increasingly look elsewhere

By: Dylan Slater     17th March 2017 Encouraging investment for junior miners is becoming a persistent issue amid faltering markets and investors increasingly seeking ways to settle their capital in other markets, stocks and companies that can guarantee its safeguarding and growth. Based on the sentiment of participants of the... 

Brexit – let it be

By: Riaan de Lange     17th March 2017 Having taken evasive action, leaving the tourists on the streets of London by escaping down a small passage way - an alley if you will - our group of seven-odd walkers ended up in front of a vintage store front - 13 Masons Yard, St. James’ to be exact. We are not off the unbeaten track, anything... 

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... 

Buoyant investment demand drives silver price higher

By: Henry Lazenby     16th March 2017 New analysis by Washington-based, The Silver Institute, has found strong investment support drove strong price performance for silver during 2016, a trend that has continued this year. The silver price has started 2017 on a positive tone, rising by roughly 9% since the beginning of the year. This... 

Smaller mining companies seek IPOs but deals remain modest

By: Reuters     16th March 2017 Stock market flotations of smaller mining and metals companies are set to pick up this year, although a return to the flood of deals five or six years ago remains unlikely while investors rebuild their bruised confidence in the sector. A continued rally in metals prices is galvanising some firms... 

Gold seen climbing as Yellen sets scene for negative rates

By: Bloomberg     16th March 2017 Gold will rise after the Federal Reserve pledged to stick to its gradual pace of tightening as negative real interest rates deepen and weigh on the dollar, according to  Wayne Gordon, executive director for commodities and forex at UBS Group AG’s wealth management unit. The Fed raised rates by a... 

Anglo's future thrown in question as billionaire grabs stake

By: Bloomberg     16th March 2017 In its 100-year history, Anglo American Plc has endured commodities booms and busts, South African apartheid and bitter boardroom disputes. Now the British mining giant is threatened by the ambitions of Anil Agarwal, an Indian scrap-metal trader turned billionaire mining tycoon. In a surprise... 

Anglo's South African coal bidders said to consider listings

By: Bloomberg     15th March 2017 The two main bidders for Anglo American’s South African coal mines plan to list their companies if they are successful in buying the operations, according to three people familiar with the plans. Phembani Group, founded by MTN Group chairperson Phuthuma Nhleko, and Masimong Minerals are seen as... 

Antofagasta 2016 profits surge, expects copper prices to rise

By: Reuters     14th March 2017 Chilean copper miner Antofagasta on Tuesday reported a 79% jump in full-year earnings and raised its dividend four-fold, saying it expected commodity prices to rise further this year. The London-listed company, majority-owned by Chile's Luksic family, like other miners has recovered from a 2015... 

Lowest-cost physical platinum marketplace launched

By: Martin Creamer     14th March 2017 Platinum has been added to BullionVault’s online trading marketplace, marking a first for the metal on the world’s largest online precious metals marketplace for buying, selling and storing physical gold and silver bullion. The improvement in liquidity, accessibility and pricing is expected to... 

Circum awarded Ethiopian potash mining licence

By: Henry Lazenby     14th March 2017 London-based potash project developer Circum Minerals has secured a mining licence for its Danakil potash project. The licence was approved by the Council of Ministers of the Federal Democratic Republic of Ethiopia and gives Circum exclusive access over the 4.9-billion-tonne Canadian National... 

Magara seizes Lonmin COO opportunity as he grasps low-price nettle 

By: Martin Creamer     13th March 2017 It’s 7 am. Ben Magara walks in bang on time for our interview. He left home at 4.15 am to be in the gym at 5 am and the office at 6 am. He has a nice spring in his step as he tells me that he has grasped the COO opportunity in addition to his role as CEO of platinum mining company Lonmin,... 

Trade between South Africa, UK to remain unaffected by Brexit

By: Megan van Wyngaardt     13th March 2017 Trade and Industry Minister Dr Rob Davies met with UK Trade Policy State Minister Lord Mark Price on the sidelines of the inaugural Commonwealth Trade Ministers Meeting, last week, and reiterated that there will be no interruption in the trade between South Africa and the UK as a result of the... 

Glencore hires Morgan Stanley banker as it targets investments

By: Reuters     13th March 2017 Glencore has hired a senior banker from Morgan Stanley, two sources familiar with the matter told Reuters, as the mining giant looks at investments and acquisitions again after two years of belt tightening due to low commodities prices. The Zug, Switzerland-based company has hired Cyrus... 

Anglo American plans pay cap after shareholder revolt

By: Reuters     13th March 2017 Major miner Anglo American is set to cap executive bonuses, it said on Monday, following a shareholder revolt last year over high payouts even when the company's share price had crashed. In its annual report, Anglo American said on Monday it would reduce maximum annual bonuses for CE Mark... 

Top learners head to Cape Town and Harvard to commence student life

     13th March 2017 The Engen Maths and Science Schools EMSS is a national initiative that addresses key skills shortages in the engineering and technical fields by providing after hours Maths and Science tuition to learners who show an advanced aptitude in the subjects.    Engen’s manager of Corporate Social... 

Accéntuate flags plan to rescale business after tough period

By: Irma Venter     10th March 2017 The six months to end December 31 was one of the most difficult periods for Accéntuate in its just more than ten years as a JSE-listed company, says CEO Fred Platt. Speaking at a results briefing in Johannesburg, he said the flooring and chemicals company experienced particularly poor trading... 

Cradle of South African aviation

By: Jade Davenport     10th March 2017 The birth of South Africa's aviation industry cannot be pinpointed to one location or date or to a single individual. While East London may boast the status of hosting the first flight in South Africa, the first aerodrome, along with the first flying school, was, in fact, established in... 

Laas sees German group’s interest in M&R as ‘an opportunity, not a threat’

By: Irma Venter     10th March 2017 Murray & Roberts (M&R) CEO Henry Laas views ATM Holding’s acquisition of a 25.5% shareholding in M&R, as “an opportunity, not a threat”. “I’m pretty relaxed about what is happening.” 

Aspen posts good interim results, despite headwinds

By: Megan van Wyngaardt     9th March 2017 Pharmaceutical company Aspen expects to report an overall stronger underlying performance in the second half of the current financial year, after a tough six months to December 31. During the six months under review, normalised headline earnings a share increased by 6% to 692c. 

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