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Topic

Platinum's discount to palladium hits 16-year-high

By: Reuters     8th December 2017 Platinum's discount to fellow precious metal palladium reached its highest level since 2001 on Thursday, as the latter soared on heightened vehicle demand and an ongoing supply deficit. Palladium hit a high of $1 022.70 on Thursday, just off a 16-year high from last week, while platinum hit a... 

Biggest African phone-tower firms said to be mulling 2018 listings

By: Bloomberg     8th December 2017 Three of Africa’s largest telecommunication towers companies plan to pursue share sales in either London or New York early next year, taking advantage of high industry valuations to fund expansion, according to people familiar with the matter. Closely-held IHS Towers, targeting an enterprise... 

Top iron-ore miner threatens to flood market if prices jump

By: Bloomberg     7th December 2017 Vale SA has a somber message for anyone betting on iron-ore prices returning to the heady days of 2011. The world’s biggest producer of the steel-making ingredient is prepared to unleash as much as 50 -million metric tons of spare capacity to balance the market if prices get too high, CEO Fabio... 

Newmont poised to oust Barrick as world's top gold producer

By: Bloomberg     7th December 2017 Newmont Mining’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The CEO raised his 2018 production forecast to a range of 4.9-million to 5.4-million ounces. That exceeds Barrick Gold’s 2018 guidance of 4.8-million to 5.3-million given in February, which doesn’t... 

Vale cuts nickel output but is positive on long-term demand

By: Reuters     7th December 2017 Brazilian miner Vale dialled back its nickel output forecasts for the next five years on Wednesday, although the world's top producer of the metal praised its longer term prospects on likely soaring demand for electric cars. Vale cut its nickel output estimate by 15% to 263 000 t next year and... 

Newmont targets dividend boost by at least 50% in 2018

By: Reuters     6th December 2017 Newmont Mining said on Wednesday that it plans to boost its dividend by at least 50% in 2018, based on balance sheet improvements and the performance of its gold mines. The Colorado-based miner, which had $3-billion in cash with $1.1-billion debt at the end of September, also issued an updated... 

Don't expect fireworks for gold in 2018, just a gentle nudge up

By: Bloomberg     6th December 2017 Gold has its fans for next year, but sparks are probably not going to fly. Even as the Federal Reserve tightens monetary policy and the European Central Bank tapers bond purchases, gold is set to rise marginally as real interest rates stay low and the dollar weakens, according to Bart Melek,... 

Japan Airlines invests $10m in supersonic jet company Boom

By: Reuters     5th December 2017 Denver-based startup Boom Supersonic said on Tuesday Japan’s No.2 carrier Japan Airlines has invested $10-million in the company, which is building a supersonic passenger aircraft it claims will be faster, quieter and more affordable to fly than Concorde. Boom is developing a 55-seat plane that... 

One of world's largest diamonds fetches $6.5m to aid Sierra Leone

By: Reuters     5th December 2017 One of the world's largest diamonds was sold for $6.5-million by Sierra Leone on Monday to fund local development projects, dealing a blow to smugglers in the West African nation. The egg-sized, 709-ct diamond found by a Christian pastor was bought at auction in New York by Laurence Graff, a... 

Business Benefits Of Fibre Exceed That Of 133-Year Old Copper

     1st December 2017 Copper wire telecoms technology is another year old next year, with the emphasis on ‘old’. That’s the message from fibre-based independent broadband provider, Otel Communications, which says businesses should making moving to fibre their top New Year’s Resolution.   Otel also questions whether... 

Electric vehicle revolution a rare investment opportunity as metals demand spikes

By: Henry Lazenby     1st December 2017 The rate at which global automotive markets are adopting electric vehicles (EVs) is accelerating at a much faster pace than even some of the keenest market observers estimated at the start of 2017, and is opening up once- in-a-lifetime investment opportunities among the four key ‘energy metals’ –... 

Southern Copper workers in Peru on strike for ninth day

By: Reuters     30th November 2017 Workers at Southern Copper, in Peru, said they completed a ninth day of an indefinite strike on Wednesday, following a failed negotiation attempt with the company. The walkout, which involved 3 000 members of two out of the five Southern Copper unions in Peru, has been declared illegal by the... 

Goldman sees iron-ore sinking to $50/t as supply expands again

By: Bloomberg     29th November 2017 Iron-ore will weaken next year as global supplies increase including from a new mine in Brazil at the same time that steel production risks topping out in China, according to Goldman Sachs Group, which expects prices to decline back toward $50 a metric ton. Futures fell. The raw material may... 

Goldman Sachs among bidders for Scotiabank's metals unit – sources

By: Reuters     29th November 2017 Goldman Sachs Group is among around five bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, for which it is seeking up to $1-billion, sources with knowledge of the matter told Reuters. Scotiabank began a review of its ScotiaMocatta metals business in 2016... 

Gold flirts with $1 300 as low inflation dents rate-hike case

By: Bloomberg     27th November 2017 Gold futures climbed above $1 300/oz for the first time in six weeks as the dollar wavered and investors braced for an onslaught of economic data and political news. Bullion rose for the third time in four days as a gauge of the dollar traded close to the lowest since September. A report later... 

South African govt bonds weaker after S&P's downgrade

By: Reuters     27th November 2017 South African government bonds weakened on Monday after S&P's Global ratings on Friday downgraded the country's local currency debt to sub-investment grade, while Moody's placed the country on review for downgrade. The rand, which had tumbled 2% on Friday, recovered in early trade on Monday at... 

BHP, Goldman hunt for energy fix amid remote banana plantations

By: Bloomberg     27th November 2017 The world’s biggest miner and Wall Street’s top-ranked merger firm are among the high-profile backers of a remote solar project nestled among banana crops in Australia’s far tropical northeast. For BHP Billiton, it’s a chance to unlock renewable technology for the global mining sector. As... 

Rio Tinto, China's private equity prepare to bid for lithium producer SQM

By: Reuters     21st November 2017 Rio Tinto, Canada's Wealth Minerals and Chinese private equity firm GSR Capital are considering a bid for a stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera), banking sources told Reuters. Canada's Potash Corp of Saskatchewan must divest its 32% stake in the Chilean company as... 

Paragon sponsors UJ’s Graduate School of Architecture

     17th November 2017 The main sponsor of the Summer Show 2017 at the University of Johannesburg’s (UJ’s) Graduate School of Architecture (GSA) in November is leading architecture, interior design, and space-planning practice Paragon of Sandton, Johannesburg. Paragon has a long association with UJ’s Graduate School of... 

Empire State Connector, US

By: Sheila Barradas     17th November 2017 The project proposes to use upstate generators to deliver renewable energy and capacity directly into New York City. 

BHP eyes two-year exit from shale; also selling nickel

By: Reuters     16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

'Raj Pink' diamond fails to sell at Geneva sale – Sotheby's

By: Reuters     16th November 2017 "The Raj Pink", the largest known diamond graded "fancy intense pink" for its rare colour, was among several major jewels stranded on the auction block on Wednesday at Sotheby's sale in Geneva. The cushion-shaped stone, weighing 37.30 ct and mounted on a ring, was billed as the star lot at... 

Vale CEO Schvartsman cuts investments in low-return segments

By: Reuters     16th November 2017 Vale will halt new investments in low-return segments like its nickel business, the company's CEO said on Wednesday. Fabio Schvarstman told investors in a conference in New York on Wednesday that he expects nickel prices to recover over the medium term, as demand for the metal rises thanks to... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Offtake partners secured for US gigafactory - Magnis

By: Esmarie Swanepoel     15th November 2017 ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York. Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. 

Paulson holds stake unchanged in SPDR Gold Trust Q3 – filing

By: Reuters     15th November 2017 Paulson & Co held its stake unchanged in the world's biggest gold exchange-traded fund in the third quarter, a 13F filing with the US Securities and Exchange Commission showed on Tuesday. New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in SPDR Gold Trust at... 

Argentina seeks to overtake Chile in South America lithium race

By: Reuters     14th November 2017 The giant pools of turquoise water in the mountainous deserts of northwest Argentina shimmer in the sunlight like oases and for lithium miners like Australia's Orocobre, that is exactly what they are. The mid-cap miner is one of several lithium producers stepping up investment in Argentina amid... 

Third possible suitor shows an interest in acquiring PPC

By: Megan van Wyngaardt     13th November 2017 In addition to the buyout offer cement producer PPC has received from Fairfax Africa Investments and AfriSam, as well as the nonbinding expression of interest from LafargeHolcim, the company has now also sparked the interest of a third possible buyer, CRH. CRH has indicated that it is considering... 

Innovative civil engineering solution to social ills – Manuel

By: Megan van Wyngaardt     10th November 2017 Unless South Africa and its citizens deal with the issue of widespread corruption, the country will not be able to provide the “kinds of engineering services” that it ought to provide to people, former Finance Minister and Minister in the Presidency Trevor Manuel has said. Speaking at a South... 

South African economy faces major challenges, but turnaround not difficult task, says Kganyago

By: African News Agency      10th November 2017 The South African economy faces major challenges and economic growth was weak as unemployment remained high despite terms of trade being favourable and global recovery, however, it should not be a difficult task to turn things around, South African Reserve Bank (SARB) Governor Lesetja Kganyago... 

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

Cooke underground closes but 1 640 Beatrix jobs saved – Sibanye

By: Martin Creamer     1st November 2017 The underground mining operations at the Cooke 1, 2 and 3 gold mining shafts on the West Rand have been placed on care and maintenance resulting in the retrenchment of 2 025 employees, in addition to the 1 350 who took voluntary separation packages, precious metals mining company... 

Palladium surge felt on Chicago streets as thieves plunder cars

By: Bloomberg     27th October 2017 Investors aren’t the only ones who have noticed palladium’s surge this year. To appreciate the impact of the recent jump in prices, one need look no further than the streets of Chicago. A police locale put out a bulletin on October 23 alerting residents to thefts of catalytic converters, vehicle... 

Third-quarter Sibanye-Stillwater operating profit up 41%

By: Martin Creamer     26th October 2017 The group operating profit of Sibanye-Stillwater in the three months to the end of September was 41% higher than last year’s third quarter and 5% up year-on-year. The Johannesburg- and New York-listed precious metals mining company, headed by CEO Neal Froneman, on Thursday reported group... 

One rare thing to watch for in US coal earnings: A profit

By: Bloomberg     24th October 2017 After years of bleeding cash and a painful string of bankruptcies, US coal miners are poised to do something rare – enjoy an earnings season. Boosted by higher global coal prices and a more conservative approach to mining, Peabody Energy kicks off the industry’s reporting cycle Wednesday and is... 

Arconic sinks on earnings miss; appoints former GE boss as CEO

By: Henry Lazenby     23rd October 2017 The New York-listed equity of alloy metals specialist Arconic dipped on Monday after the company reported disappointing third-quarter results. The New York-headquartered company revealed a headline profit of $132-million, or $0.25 a share, compared with $137-million in the comparable quarter of... 

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

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