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Transnet starts preparation work on reconstruction of Island View accumulator tanks

By: Creamer Media Reporter      Updated 7 hours ago State-owned Transnet has started preparation work on the reconstruction of the accumulator tanks at the Island View precinct in the Port of Durban, with the project expected to get under way in 2019. The project plan for the reconstruction of the tanks is currently at a feasibility phase, with... 

Nigeria State oil company denies existence of $3.5bn fuel subsidy fund

By: Reuters     17th October 2018 Nigeria's State oil company on Wednesday denied parliament's accusation that it had a $3.5-billion fund to surreptitiously subsidise imports of gasoline. The upper house Senate said on Tuesday it would investigate the fund it said the Nigerian National Petroleum Corporation (NNPC) was using... 

BHP iron-ore output up, FY copper guidance trimmed

By: Esmarie Iannucci     17th October 2018 Diversified giant BHP has reported increases in copper and iron-ore production during the three months to September, while petroleum and coal production fell. Iron-ore production for the three months to September was up by 10% on the previous corresponding period, to 61-million tonnes of ore,... 

Engen KlevaKidz surpasses 700 schools visited across South Africa

16th October 2018 Over the past 10 years, the Engen KlevaKidz’s often life-saving safety messages have reached over a quarter of a million vulnerable children.

Engen KlevaKidz is an annual educational campaign that uses industrial theatre to engage and educate young learners across South Africa about the... 

Engineering firm acquires valve test bench

By: Donald Makhafola     12th October 2018 Mpumalanga-based wholly black-owned mechanical engineering company Brimis Engineering will procure a pressure relief valve test bench by the end of this month to test more than 90% of all installed safety valves currently in use in South Africa.  Global valve test and repair equipment supplier... 

Jizzakh refinery, Uzbekistan

By: Sheila Barradas     12th October 2018 Jizzakh Petroleum plans to build five-million-ton-a-year crude oil refinery to produce clean-burning gasoline, diesel and jet fuel. 

August manufacturing production gains 1.3% on food and beverages

By: African News Agency      11th October 2018 Manufacturing production for August came in far better than the purchasing managers' index (PMI) for the same month had suggested, expanding 1.3% year-on-year from 2.8% in July. Statistics South Africa reported on Tuesday that manufacturing production increased by 1.3% in August 2018 compared... 

Opec sees weaker demand for its crude next year as rivals surge

By: Bloomberg     11th October 2018 Opec is under intense pressure right now from consumers to ease prices by pumping more crude, but for 2019 it sees a more doubtful picture. The cartel cut its estimate for global demand for its crude next year due to weakening economic growth and higher output from rivals, notably US shale... 

Govt, fuels industry mull alternative pricing framework for petrol 

By: African News Agency      11th October 2018 Government was considering capping the price of 93 unleaded petrol, Energy Minister Jeff Radebe said on Thursday. Radebe, who joined his communications counterpart, Nomvula Mokonyane, during the post-cabinet media briefing, said they were consulting the industry on the proposal. 

DMR accepts Waterberg mining right application – PTM

By: Marleny Arnoldi     10th October 2018 The Department of Mineral Resources (DMR) has accepted TSX- and NYSE-listed Platinum Group Metals’ (PTM’s) mining right application for the large-scale Waterberg platinum group metals (PGMs) project. The application comprises a mining work programme, social and labour plan, and associated... 

Astron Energy appoints chair, CEO

By: Tasneem Bulbulia     9th October 2018 Astron Energy, previously Chevron South Africa (CSA), has appointed Mashudu Ramano chairperson and Jonathan Molapo CEO, with immediate effect. CSA was, last month, acquired by black economic empowerment consortium Off The Shelf Investments, which is chaired by Ramano, for $1-billion. 

IEA urges Opec to open the taps as oil market enters 'red zone'

By: Bloomberg     9th October 2018 The International Energy Agency made a direct appeal to Opec and other major oil producers to boost output, warning that prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA executive director Fatih Birol said... 

Mozambique signs oil exploration agreements with Exxon, Rosneft

By: Reuters     9th October 2018 The Mozambican government said on Monday it had signed oil exploration agreements with US energy firm Exxon Mobil and Russia's Rosneft. Mozambique's National Petroleum Institute, an energy regulator in the southern African country, said the government was preparing to sign similar agreements with... 

Lithium-rich WA bids to host battery research centre

By: Esmarie Iannucci     9th October 2018 The Western Australian government on Tuesday confirmed that the application for the Future Battery Industries Cooperative Research Centre (FBI CRC) was one of six to be shortlisted to the next round by the Cooperative Research Centres (CRC) programme. The state government has included a... 

Mali approves Randgold’s Morila mine to agribusiness conversion

By: Marleny Arnoldi     8th October 2018 Gold miner Randgold Resources’ Morila gold mine’s ambitious agribusiness project has been approved by the Malian government. The project is designed to replace mining with a sustainable economic activity in the local community after the operation’s closure in two years’ time. 

Provincial enviro nod for IDM’s Red Mountain

By: Mariaan Webb     8th October 2018 The Red Mountain gold and silver underground mine, in the Nass Wildlife area of British Columbia, is one step closer to development, with the provincial government granting the project environmental approval. Environment and Climate Change Strategy Minister George Heyman and Energy, Mines and... 

Balking miners jeopardise $2.8bn Mozambican coal rail

By: Bloomberg     5th October 2018 A plan to develop a $2.8-billion railway and port to ferry coal in Mozambique may collapse because miners are balking, according to the man trying to build it. Failing to get the project off the ground would deprive the southern African country of a source of revenue it’s come to rely on as it... 

West Qurna Phase 2 oilfield, Iraq

By: Sheila Barradas     5th October 2018 LUKOIL Mid-East is developing Phase 2 of the West Qurna oilfield, which has been divided into three phases. 

Mathunjwa calls on govt to implement more socialist policies to retain jobs

By: Nadine James     4th October 2018 South Africa should transition from a constitutional democracy to a “social democracy” and implement more socialist policies to retain jobs in the mining sector, suggests Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa. Speaking on the second day of the Joburg... 

Charter a stepping stone towards mining industry recovery, but tech adoption needed

By: Marleny Arnoldi     3rd October 2018 Exxaro Resources CEO and Minerals Council South Africa (MCSA) president Mxolisi Mgojo said 2018 was a second watershed moment for South Africa’s mining industry, following the finalisation of Mining Charter 3. The first moment of this magnitude, he noted, was in 2004, when the Minerals and... 

High administrative costs, industry uncertainty holding mining back

By: Nadine James     3rd October 2018 The mining sector is poised for a positive future but is still hindered by a “harsh” environment, Minerals Council South Africa CEO Roger Baxter stated at the Joburg Indaba, on Wednesday. In his keynote address, titled ‘A harsh environment in South Africa or a new dawn’, he noted that one of the... 

Mazda to deploy electrification in all of its production vehicles by 2030

By: Irma Venter     3rd October 2018 Mazda will deploy some form of electrification in all of its production vehicles by 2030. The Japanese car maker expects internal combustion engines, combined with some form of electrification, such as plug-in hybrids, to account for 95% of the vehicles it produces by 2030, and battery electric... 

Zambia mines to pay mineral royalties in dollars to stabilize kwacha

By: Reuters     3rd October 2018 Zambia has asked mining companies to pay mineral royalties directly to the central bank in dollars as one of the measures to help stabilise its kwacha currency , its finance minister said on Tuesday. The kwacha gained more than 5% to close at 11.9500 per dollar on Tuesday after hitting 12.6750 on... 

Mini-refineries race billionaire to fix Nigerian fuel crisis

By: Bloomberg     2nd October 2018 In the race to solve a fuel-import crisis in Nigeria, Africa’s richest person faces competition from a swarm of tiny challengers. Billionaire Aliko Dangote is building a 650 000 barrel-a-day refinery in Nigeria that will help cut the nation’s $7-billion annual fuel-import bill. Such is the... 

Botswana manganese estimate fires up aspirant battery supplier

By: Martin Creamer     1st October 2018 A maiden mineral resource at the Kgwakgwe Hill manganese field in Botswana has given a Toronto venture exchange junior exploration company sufficient confidence to proceed immediately with a preliminary economic assessment, Mining Weekly Online can today report. The mineral resource estimate,... 

Govt to finalise biofuels regulatory framework by March 2019

By: Kim Cloete     1st October 2018 The government plans to finalise the long-awaited biofuel blending regulatory framework and have it approved by Cabinet before the end of March 2019, while the Department of Energy (DoE) is also focusing sharply on the development of gas-to-power opportunities. This was revealed in a speech read... 

Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium

By: Terence Creamer     28th September 2018 Black economic empowerment (BEE) consortium Off The Shelf Investments (OTS) confirmed on Friday that it had acquired Chevron South Africa (CSA) in a deal valued at $1-billion and financed by its technical and financial adviser, Glencore. CSA, which owns the Chevron refinery in Cape Town and the... 

Law firms see benefits of gazetted Mining Charter 3, MPRDA amendment Bill removal

By: Simone Liedtke     28th September 2018 To effect the necessary changes that are needed for South Africa’s economy to grow, government and industry will, moving forward, have to focus on economic assessments, instead of policy development, says law firm Webber Wentzel partner and mining sector head Jonathan Veeran. Following the... 

Free State natural gas project, South Africa

By: Sheila Barradas     28th September 2018 The project entails the construction of a 52 km gas gathering pipeline and cryogenic liquefaction processing facilities. 

Completion of grid project opens way for renewables in Kenya

By: John Muchira     28th September 2018 Kenya is set to connect about 310 MW of electricity generation capacity to the national grid, following the completion of a much-delayed transmission line project. After about two years delay, the East Africa nation has finally completed the Loiyangalani-Suswa transmission line paving the way for... 

Engen helps tackle unemployment through Learnership programme

27th September 2018 In response to increasing unemployment rates in South Africa, Engen are running various campaigns to recruit candidates for learnerships, which are based on business and industry needs. To date, Engen has trained over 500 artisans and professional drivers, who are now licensed to trade in various... 

Mantashe confirms gazetting of Mining Charter 3 

By: Simone Liedtke     27th September 2018 Mineral Resources Minister Gwede Mantashe on Thursday confirmed that the Mining Charter 3 had officially been gazetted. Coupled with this, he stated during a media briefing, in Pretoria, that a formal request has been submitted to the Speaker of the National Assembly and the National Council of... 

Opec will balance oil markets, but spare capacity limited – Nigerian official

By: Reuters     26th September 2018 The Organization of the Petroleum Exporting Countries (Opec) will act to balance the market after oil prices hit their highest in four years, but its options may be limited by available spare capacity, a Nigerian oil industry official said on Wednesday. "It's obvious that if you have high prices... 

Queensland fires up for gas supply challenge

By: Creamer Media Reporter      26th September 2018 More explorers are on the hunt across Queensland for gas for the hungry Australian market. Natural Resources, Mines and Energy Minister Dr Anthony Lynham on Tuesday announced that four companies would soon start exploring more than 6 600 km2 for more gas for local use, as well as export dollars. 

Lenders agree to increase Royal Bafokeng Resources’ debt facilities to R3bn

By: Simone Liedtke     25th September 2018 Nedbank and First Rand Bank, trading through its Rand Merchant Bank division, have agreed to increase Royal Bafokeng Resources’ (RBR’s) existing debt facilities from R2-billion to R3-billion. RBR, a subsidiary of Royal Bafokeng Platinum (RBPlat), earlier this year entered into an agreement to... 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Chinese petcoke buyers turning to Russia, Mideast after US tariffs

By: Reuters     21st September 2018 Chinese importers of petroleum coke are buying more volumes from Russia and the Middle East due to a hefty tariff on shipments from the United States, previously one of China's main sources of the material used in aluminium and cement production. China slapped a 25% tariff on US petroleum coke,... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

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