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Press Office - SRK Consulting

SRK Consulting

SRK provides expert advice and solutions for clients requiring specialised services, mainly in the fields of mining, geotechnics, water, waste and the environment.

SRK seeks to serve clients across a range of industries that are primarily natural resource based. The firm’s primary business is the provision of professional consulting services.

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Gold futures punch through $1 300 as global stocks extend losses

By: Bloomberg     18th August 2017 Gold futures broke above $1 300/oz, rising to the highest level since November, as global stocks dropped and investors fretted that turmoil in the White House will prevent President Donald Trump from delivering on his legislative agenda. Futures for delivery in December advanced as much as 1.1%... 

Former Sierra Rutile CEO denies bribery claims

By: Esmarie Swanepoel     18th August 2017 Sierra Leone Presidential candidate and former CEO of Sierra Rutile John Sisay has denied allegations that he was involved in bribery to secure mining licences in the African nation. Reports emerged this week alleging that mineral sands miner Iluka had uncovered suspected bribe payments by Sisay... 

Industrial base growth will stimulate province’s steel industry

     18th August 2017 Growing the Eastern Cape industrial base will assist in stimulating growth in the struggling steel industry, says the Industrial Development Corporation (IDC). 

KAZ Minerals more than doubles output as new mines ramp up

By: Mariaan Webb     17th August 2017 The ramping up to two new openpit copper mines in the Pavlodar and East regions of Kazakhstan has helped KAZ Minerals to more than double its first-half production, revenue and profit. The London-, Kazakhstan- and Hong Kong-listed miner on Thursday reported production of 118 000 t of copper in... 

Krugerrand demand resurgence anticipated to result in record sales  

By: Ilan Solomons     16th August 2017 Increased demand for gold has supported sales of the gold bullion Krugerrands and this year is predicted to yield the highest sales since the 1980s, with an expected 15% to 20% increase on the 1.1-million ounces of the coins sold in 2016. This is according to precious metal smelting and refining... 

Zinc breaks through $3 000 barrier as metals rally gathers pace

By: Bloomberg     16th August 2017 Zinc surged above $3 000 a metric ton amid persistent global deficits, and aluminium climbed as China reined in illegal capacity, adding fresh impetus to the rally even as some investors expressed concerns. Zinc jumped as much as 2.6% to $3 037/t on the London Metal Exchange, the highest level... 

Miners drive strong European share gains as investors await GDP figures

By: Reuters     16th August 2017 Miners and oil stocks helped Europe's major share index make robust gains on Wednesday as higher metals prices lent a hand and investors awaited eurozone GDP figures expected to confirm the bloc's economic growth was on track. The pan-European STOXX 600 rose 0.7%, its third day of gains after a... 

Sierra Rutile bribery scandal unlikely to affect Iluka operations

By: Esmarie Swanepoel     16th August 2017 ASX-listed mineral sands miner Iluka said on Wednesday that a bribery scandal at its recently acquired Sierra Rutile operations, in Sierra Leone, was unlikely to have a material impact on the company. Reports emerged this week that Iluka had uncovered suspected bribe payments made by... 

Despite delay, US expected to impose steel tariffs

By: Reuters     15th August 2017 US President Donald Trump is still expected to impose steel import tariffs on national security grounds despite the delay of a probe into the matter and pursuit of multilateral talks to reduce excess capacity, industry players and trade experts say. US steel stocks have fallen nearly 10% since... 

Strong financials keep Polyus on track to meet production guidance

By: Samantha Herbst     14th August 2017 Following positive operational and financial progress during the first half of 2017, London- and Moscow-listed Polyus remains on track to meet its full-year production guidance of between 2.08-million ounces and 2.13-million ounces. 

Russian bank sees gold jumping to $1 400 on world tension

By: Bloomberg     14th August 2017 Gold prices are set to jump to a four-year high of $1 400/oz by the end of the year over mounting tensions between North Korea and the US, and surging demand in the world’s biggest consumers, according to the head of precious metals at a Russian investment bank. Bullion could rise to $1 360/oz... 

Cornish Lithium project secures £1m for exploration

By: Reuters     14th August 2017 British mining company Cornish Lithium has secured £1-million to explore for lithium in Cornwall, southwest England, its CEO said, taking the country a step closer to a domestic source of the strategic mineral. Lithium plays an essential role in electric car batteries, and is produced by... 

Zambia's CEC confirms reduced power supply to Glencore's copper miner

By: Reuters     14th August 2017 Copperbelt Energy Corp (CEC), Zambia's main supplier of power for its mines, confirmed on Sunday that it has restricted the amount of electricity it supplies to Glencore unit Mopani Copper Mines (MCM) because of a dispute over tariffs. Mopani said on Saturday that it has suspended operations in... 

This Canadian copper giant is missing best of metal's surge

By: Bloomberg     12th August 2017 As copper producers from Freeport-McMoRan to BHP Billiton ponder what to do with the windfall from surging prices, First Quantum Minerals has no such dilemma. Unlike most of its peers, First Quantum’s copper sales are fully hedged – at an expected average price of $2.37/lb for the second half of... 

Canada's MGX Minerals sets out to lead way from oil to petrolithium

By: Reuters     12th August 2017 A small Canadian miner has set out to lead the way into petrolithium production, combining oil for conventional vehicles with lithium for electric vehicles (EV) produced from oilfield waste water. Shares in MGX Minerals have doubled this year as investors seek exposure to the predicted electric... 

US Embassy welcomes new Consul General to Cape Town

     11th August 2017 Consul General Virginia Blaser has been appointed to lead the Consulate General in Cape Town. “Consul General Blaser brings extensive experience from across the continent, where she led key US embassies, promoting trade and investment, empowering women and young leaders, and supporting... 

Mining companies built on wildcat culture now want to share risk

By: Bloomberg     11th August 2017 Swashbuckling gamblers abound in the mining business, where billions are spent searching for mother lodes in some of the most inhospitable places on the planet. But a prolonged slump in metals and big losses on earlier solo projects are turning top producers into risk-avoiding wallflowers. “The... 

AgriProtein assessing two new fly-farming sites in South Africa

By: Irma Venter     11th August 2017 Waste-to-nutrient group AgriProtein will expand its presence in South Africa with two new fly-farming sites, while also growing its research and development function in the country, says CEO Jason Drew. AgriProtein started operations in Cape Town in 2015, launching the world’s first... 

Evraz doubles H1 profit, to pay first dividend since 2014

By: Reuters     10th August 2017 Russian integrated steel and mining company Evraz reported a doubling in first-half core profits on Thursday and proposed its first dividend since 2014, with results buoyed by higher coking coal and steel prices. Evraz, Russia's top producer of coking coal, said its earnings before interest,... 

British mineral explorer in Africa lists in London

By: Reuters     10th August 2017 A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London's Aim market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015/16, a handful of new companies have... 

Income investors run for cover as dependable UK dividends in jeopardy

By: Reuters     9th August 2017 Attractively high dividend payouts by companies listed on Britain's stock market could be in danger. The sectors currently delivering the biggest dividends -- those that have kept yield-hungry investors in the UK market -- are showing signs of strain. 

Billionaire who made killing on cobalt bets on electric-car fund

By: Bloomberg     8th August 2017 An investment firm founded by Russian billionaire Vladimir Iorich is following its winning bet on cobalt this year by creating a $150-million fund to buy into metals used in electric cars. Pala New Energy Metals will invest in cobalt, lithium, vanadium, rare earths, nickel and tin. Pala... 

Nigeria to permanently seize former oil minister's $37.5m property

By: Reuters     8th August 2017 Nigeria has been told by a court it can permanently seize a $37.5-million apartment block owned by a former oil minister who is wanted for money laundering. The property belongs to former petroleum minister Diezani Alison-Madueke, who was in office between 2011 and 2015. It had previously been... 

Lithium processors prepare to meet demand in era of electric car 

By: Reuters     7th August 2017 Producers of processed lithium – an essential element for batteries used in electric cars – are agreeing long-term contracts with their customers to fund the investments needed to address a looming shortfall. Demand for battery-grade lithium compounds is expected to skyrocket in the next decades... 

Lucara Diamond mulls partnership to sell world's largest uncut stone

By: Reuters     7th August 2017 Nearly two years after unearthing a tennis ball-sized 1 109 ct rough diamond, Lucara Diamond Corp is considering forming a partnership to sell the stone if it still does not have a deal in the next six to eight weeks. Lucara, which failed to sell the world's largest uncut stone at Sotheby's... 

LME seeks consensus to cut rents for storing metal

By: Reuters     7th August 2017 The London Metal Exchange is seeking agreement from its network of metal warehouse owners to cut the rents charged for storage, which could boost the amounts of metal registered under LME warrant and improve transparency. Rents for aluminium on warrant, which gives the material LME backing,... 

Electric car boom drives rush to mining's $90bn heartland

By: Bloomberg     7th August 2017 A scramble by the lithium market’s biggest players to tie up supply of the high-tech metal is gathering pace in the 170-year-old heartland of Australia’s $90- billion mining industry. Rising Chinese demand for lithium-ion batteries needed for electric vehicles and energy storage is driving... 

Sean Gilbertson takes over Gemfields' reins as new CEO

By: Martin Creamer     4th August 2017 Long-serving Gemfields executive board member Sean Gilbertson, who was recently appointed executive director of Pallinghurst, is the new CEO of Gemfields, the coloured gemstone mining and marketing company that has delisted from the London Aim and is now an unlisted subsidiary of Pallinghurst.... 

As batteries make power play, South Africa mulls market participation

By: Irma Venter     4th August 2017 The world changed more than could be imagined in the 1990s. Not only was it the advent of all things Internet and digital connectivity, it also saw the birth of the rechargeable lithium battery, required to charge humankind’s new tools, such as cellphones and laptop computers. Today, the chase is... 

As batteries make power play, South Africa mulls market participation

By: Irma Venter     4th August 2017 The world changed more than could be imagined in the 1990s. Not only was it the advent of all things Internet and digital connectivity, it also saw the birth of the rechargeable lithium battery, required to charge humankind’s new tools, such as cellphones and laptop computers. Today the chase is... 

UK reassures Sacu about future trade relations, reaffirms commitment to free trade

By: Keith Campbell     4th August 2017 The Southern African Customs Union (SACU) has welcomed the UK’s intention of preventing disruption of trade relations with other countries as it leaves the European Union (EU). This was affirmed in a Joint Statement issued by SACU and the UK following discussions between Trade Ministers from the... 

Cash-flush Randgold in massive Côte d’Ivoire gold discovery

By: Martin Creamer     3rd August 2017 The exploration team of Randgold Resources, which on Thursday reported a 53% leap in half-year profits, plus cash on hand of $572.8-million even after the $94-million dividend payout, has defined a large target in Côte d’Ivoire, which is considered to be “potentially the most exciting gold... 

Ferrexpo expects up to 10Mt/y of idled pellet supply to enter market

By: Mariaan Webb     3rd August 2017 Swiss-headquartered Ferrexpo expects demand for high-quality iron-ore, especially pellets, to remain strong in the second half of 2017, underpinned by an improvement in the global economy, as well as drive by steel mills to reduce their emissions and improve the quality of their final product.... 

Electric-car revolution is shaking up the biggest metals markets

By: Bloomberg     3rd August 2017 The revolution in electric vehicles set to upturn industries from energy to infrastructure is also creating winners and losers within the world’s biggest metals markets. While some of the largest diversified miners like Glencore argue fossil fuels such as coal and oil still play a crucial role... 

Rio launches $1bn share buyback

By: Esmarie Swanepoel     3rd August 2017 Diversified major Rio Tinto on Thursday provided more details of the $1-billion share buyback programme, announced in its interim results a day earlier. The $1-billion buyback is in addition to the $500-million buyback programme announced in February this year. Some $300-million of the original... 

BP's West Africa partner Kosmos to list in London by end-September

By: Reuters     2nd August 2017 Kosmos Energy, which is exploring for gas offshore Senegal and Mauritania with oil major BP, will list on the LSE by the end of September in a bid to attract more European investors, it said on Wednesday. Kosmos, which has been listed in New York since 2011, announced a major gas find in... 

Crusader finds buyer for Posse mine

By: Esmarie Swanepoel     2nd August 2017 ASX-listed Crusader Resources has entered into a conditional sales agreement to divest of its Posse iron-ore mine, in Minas Gerais. Crusader on Wednesday told shareholders that Inter Invest would pay some A$3.2-million for the asset over a 17-month period, with the sale conditional on Crusader... 

Seven New Vehicles Attest to On-going Success of Cargo Carriers / Caltex Eastern Cape Branded Marketer Joint Venture in Eastern Cape

     2nd August 2017 Uzuko Carriers hauls fuel for Caltex branded dealerships across the Eastern Cape. Supply chain experts Cargo Carriers just enhanced this joint venture with Caltex Eastern Cape Marketers via the acquisition of seven new Mercedes-Benz trucks. Uzuko Carriers (Pty) Limited (Uzuko Carriers) started as... 

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