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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... 

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

As banks flee diamond trading, a startup plans to fill the gap

By: Bloomberg     18th October 2017 As major banks abandon the diamond trading world, one new lender is preparing to jump in. Dfin, a London-based corporate finance firm that specializes in the diamond sector, plans to lend $250-million to diamond polishers, cutters and traders -- known in the industry as the midstream -- over the... 

America's miners are digging for hotter coals as old plants shut

By: Bloomberg     18th October 2017 Early next year, three massive coal-fired power plants in Texas will close for good. And their absence will be felt 1,000 miles away in the coal pits of Wyoming and Montana. There, in the energy-rich Powder River Basin, miners have for decades carved out coal that’s cheap but packs less heat than... 

Egg-sized diamond for sale: proceeds to benefit Sierra Leone's poorest

By: Reuters     18th October 2017 Sierra Leone will auction one of the world's largest diamonds to fund development projects in the impoverished community where it was found, the group managing the sale said on Tuesday. The 709 ct gem, named the "peace diamond", was found in the eastern Kono region in March by a Christian pastor... 

'Dr. Doom' commentator Marc Faber faces backlash over race comments

By: Reuters     18th October 2017 Marc Faber, the Swiss investor based in Thailand, provoked a backlash from business television and investment management firms on Tuesday after comments in his latest newsletter suggested the US had only prospered because it was settled by white people. The investor and commentator, known as 'Dr... 

Close Collaboration Minimises Shipping Disruptions in Port of Durban

     16th October 2017 Swift action by Transnet National Ports Authority, in collaboration with the South African Maritime Safety Authority (SAMSA) and African Marine Solutions, saw the successful delivery of a multi-vessel emergency operation in the Port of Durban during yesterday’s during inclement weather. By 18h30... 

London's gold crown slips on MiFID with New York poised to catch

By: Bloomberg     16th October 2017 London is losing its Midas touch. New rules from regulators, on top of uncertainties over the UK’s future relationship with the European Union, are denting the city’s position as the biggest center for gold trading in the world. The changes threaten to push up costs, a key competitive advantage... 

Zinc price spike sparks flurry of miner listings

By: Reuters     13th October 2017 A doubling in zinc prices since late 2015 and strong outlook for the commodity has fueled a flurry of zinc miner listings on the Toronto Stock Exchange as companies cash in on investor demand for producers of the metal. Brazil-based Nexa Resources, a top five global zinc producer, is seeking to... 

World’s first electric truck in series production makes US debut

By: Irma Venter     13th October 2017 Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has launched the world’s first all-electric truck in series production, the Fuso eCanter, in the US. MFTBC is a member of the Daimler group. 

Cautious investors still favouring gold royalty companies over miners

By: Reuters     11th October 2017 Investors in precious metals are opting for streaming and royalty companies over pure gold and silver miners this year despite a rise in metal prices, as producers struggle to win confidence in their ability to capitalise on the rally. Streaming and royalty companies provide financing for... 

Cokal raises A$4m to get started on BBM Stage 2

By: Esmarie Swanepoel     11th October 2017 Coal producer Cokal has announced plans to raise A$4-million to assist in funding the Stage 2 development of its flagship Bumi Barito Mineral (BBM) project, in Indonesia, as Stage 1 production continues apace. The miner on Wednesday reported that Stage 1 of the BBM asset was achieving... 

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Nexa, formerly Votorantim Metais, plans IPO for up to $651m

By: Reuters     11th October 2017 Mining company Nexa Resources, formerly Votorantim Metais Holding, and its controlling shareholder expect to raise between $576-million and $651-million in its initial public offering in New York and Toronto. In a filing with the US Securities and Exchange Commission, Nexa said parent... 

Caledonia Mining sees golden opportunities in Zimbabwe dollar crisis

By: Reuters     9th October 2017 Caledonia Mining is seeking to expand in Zimbabwe, where output at its flagship gold mine has hit new highs and the country, gripped by a cash crisis, depends on it and other miners to generate currency. Zimbabwe is short of US dollars, a currency it adopted in 2009 after its own was wrecked by... 

Bass bets Greek elections called within year, spurring rally 

By: Bloomberg     9th October 2017 Hedge fund manager Kyle Bass is betting that Greece will experience a dramatic political turnaround, with elections called within a year, that will spur a rally across the nation’s assets. Bass, founder of Dallas-based Hayman Capital Management, owns Greek bank stocks, which he said are trading... 

Exhibition marks firm’s international re-entry

By: Simone Liedtke     6th October 2017 Protective workwear manufacturer Sweet-Orr is set to exhibit at this year’s A+A Trade Show exhibition – which is an important trade forum for safety, security and health at work – from October 17 to 20 in Dusseldorf, Germany. 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

Blitz delivering ahead of schedule – Sibanye-Stillwater 

By: Martin Creamer     2nd October 2017 Production is under way three months ahead of schedule at Sibanye-Stillwater’s Blitz project in the US, where the completion of a secondary escape-way system concluded the final infrastructure required for the production to begin. An upside for Sibanye-Stillwater shareholders is the rapid ramping... 

LED best fit for energy-hungry smart cities

By: Schalk Burger     29th September 2017 Energy efficiency is critical to sustaining smart cities, especially as the levels of urbanisation are expected to increase, and light-emitting diode- (LED-) technologies will be a key component, says electronic multinational Philips Lighting Southern Africa GM Reggie Nxumalo. “As much as 78% of... 

Russia’s Alrosa to reopen New York trade office

By: Creamer Media Reporter      28th September 2017 Russian diamond major Alrosa said on Thursday that it would reopen its trade office in New York in late 2017 or early 2018. Alrosa president Sergey Ivanov, who met with representative of the US diamond industry this week, said in a statement that Alrosa was interested in trading in rough and... 

Christie's to auction rare large diamond in November

By: Reuters     28th September 2017 A 163.41 ct flawless white diamond found last year in Angola will go to auction in Geneva on Nov. 14, global auction house Christie's said on Thursday. "The largest stone that ever come up on the market before of this quality was 110 ct," Francois Curiel, Christie's chairperson for Europe and... 

Palladium eclipses beaten-down platinum as drivers shun diesel

By: Bloomberg     28th September 2017 Palladium prices topped platinum for the first time since 2001, underscoring the diverging outlooks for the metals. Supplies are expected to tighten in palladium, used mostly in pollution-control devices for gasoline-powered cars and trucks, while demand has slipped for platinum, which helps... 

Here's one commodity rally that may end up being short-lived

By: Bloomberg     27th September 2017 Is it finally time to get excited about nitrogen fertiliser? Since the end of June, prices for the world’s most commonly used crop nutrient have soared 60 percent in the US – rebounding from the lowest levels in more than a decade. There have been similar moves in Brazil, India and the Middle... 

Oaktree's Molycorp legacy firm is said to weigh IPO, sale

By: Bloomberg     27th September 2017 Advanced materials producer Neo Performance Materials, carved from the remains of bankrupt Molycorp, is weighing an initial public offering (IPO) or an outright sale, according to people familiar with the matter. Neo Performance, backed by investment firm Oaktree Capital Group, has not... 

Hedge fund Paulson & Co calls for joint shareholder action vs gold miners

By: Reuters     26th September 2017 New York-based Paulson & Co, led by longtime gold bull John Paulson, called on Tuesday for the world's biggest investors in gold-mining stocks to form a coalition to tackle miners' "dreadful" performance as it launched a blistering attack on the industry's track record. Speaking at the Denver... 

We're reaching peak gold just as political panic drives demand

By: Bloomberg     26th September 2017 The world may have already produced the most gold in a year it ever will, according to the chairperson of the World Gold Council. Production is likely to plateau at best, before slowly declining as demand rises, especially given global political risks and robust purchases by consumers in India... 

Giant miner vies with Google, GE, for hires amid automation push

By: Bloomberg     22nd September 2017 Rio Tinto, the world’s second-largest mining company, is focused as much on driver-less trucks and automated drills as conventional shovels and loaders these days. That means it needs a whole lot more high-tech workers. The London-based company is stepping up efforts to lure engineers and... 

Daddy, you don’t know anything about car shopping

By: Irma Venter     22nd September 2017 The teenage daughter of Nissan Motor Corporation chief digital officer Madhu Nutakki last year shopped for a car, as California legislation allowed her to drive herself to school and back from the age of 15-and-a-half. Nutakki is based in Silicon Valley. 

Kinross to invest $820m to tread water on production

By: Bloomberg     20th September 2017 Kinross Gold is spending more than $800-million to essentially tread water as – like many miners – it faces a future in which new gold assets are increasingly difficult to find and costly to develop. The Canadian miner said Monday it will move ahead with expansions at mines in Mauritania and... 

Climate change is a global challenge – Zuma

By: African News Agency      19th September 2017 Climate change is a global challenge and developing countries should be provided with adequate support for their mitigation and adaptation actions, President Jacob Zuma said on Monday. “Climate change is a global challenge that requires no one to be left behind. The whole world affirmed this in... 

Kinross to proceed with Tasiast Phase 2, Round Mountain expansion projects

By: Henry Lazenby     18th September 2017 Senior Canadian miner Kinross Gold has revealed that it will spend about a $1-billion on two significant capital growth plans for the Phase 2 expansion of its Tasiast mine, in Mauritania, as well as the Phase W of the Round Mountain mine, in Nevada. “With Phase 2, Tasiast's annual production is... 

World’s first electric truck in series production makes US debut


By: Irma Venter     18th September 2017 Mitsubishi Fuso Truck and Bus Corporation (MFTBC) has launched the world’s first all-electric truck in series production, the Fuso eCanter, in the US. MFTBC is a member of the Daimler group. 

Freeport seen facing more battles over world's top gold mine

By: Bloomberg     18th September 2017 The landmark deal that forced Freeport-McMoRan to cede controlling interest in the world’s biggest gold mine and second-largest copper mine to Indonesia may not be the final outcome as both sides prepare for a politically charged fight over the price of the asset and how it will be run, according... 

AngloGold announces potential disposal of lossmaking Kopanang

By: Martin Creamer     15th September 2017 A memorandum of understanding (MoU) has been signed with a selected party which could result in a sale agreement involving the disposal of the 36-year-old, lossmaking Kopanang gold mine. AngloGold Ashanti said in a media release to Creamer Media’s Mining Weekly Online on Friday that unsolicited... 

Ballard surges on design that reduces platinum in fuel cells

By: Bloomberg     14th September 2017 Ballard Power Systems, a supplier of fuel-cell power systems, surged to a three-year high after announcing a technology breakthrough that replaces most of the high-cost platinum used in earlier design. Ballard gained 24% to $4.59 at 3:08 pm, in New York, the most intraday in more than a year and... 

Two years to convert post-Millennials to car ownership, warns Nissan

By: Irma Venter     11th September 2017 The teenage daughter of Nissan Motor Corporation chief digital officer Madhu Nutakki last year shopped for a car, as California legislation allowed her to drive herself to school and back from the age of 15-and-a-half. Nutakki is based in Silicon Valley. 

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