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Nigeria passes major oil reform bill after 17 year struggle

By: Reuters     19th January 2018 Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry. Nigeria' lower house of parliament has passed a version of the bill which is the same as... 

Norway's $1tn fund curbs holdings in biggest carbon dioxide emitters

By: Reuters     19th January 2018 Norway's sovereign wealth fund has trimmed the proportion of its $1 trillion fortune that is invested in companies that emit the most greenhouse gas, a Reuters survey has shown. Environmental campaigners hope the move by the world's biggest State-owned investment fund signals the start of a trend... 

Regulatory uncertainty casting shadow over South Africa amid forecast for further minerals market uptick

By: Mia Breytenbach     19th January 2018 The South African mining industry has had a tumultuous time because of the controversial Reviewed Draft Broad-Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry, also known as Mining Charter III, which, amid lingering political uncertainty, led to low... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

By: Bloomberg     19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... 

Nigeria moves closer to turning long-awaited oil bill into law

By: Reuters     18th January 2018 Nigeria moved closer to turning the first part of a long-awaited oil industry bill into law after the lower house passed the same version of the legislation approved by the Senate last year, a lawmaker in the House of Representatives said on Thursday. It is the first time both houses have... 

BHP maintains guidance for most commodities, targets 6% volume growth

By: Dylan Slater     18th January 2018 Multinational miner BHP on Thursday kept its full-year production guidance unchanged for all commodities, except metallurgical coal, and said that it would achieve 6% volume growth in the 2018 financial year.  

Congo Republic plans to join Opec oil cartel

By: Reuters     18th January 2018 Congo Republic plans to join the Opec oil cartel, the government said, as the former French colony presses ahead with projects that could help it become the third-largest oil producer in sub-Saharan Africa. "The Republic of Congo has decided to accede to the Organization of the Petroleum... 

BHP second-quarter iron-ore output up 3%, maintains forecast

By: Reuters     18th January 2018 Global miner BHP on Thursday reported a 3% rise in second-quarter iron-ore production year over year and said it expects to meet its full-year target as prices for the steelmaking ingredient outperform forecasts. BHP's iron-ore output climbed to 72-million tonnes for the three months ended... 

Canadian companies struggle to plan for post-NAFTA world

By: Reuters     12th January 2018 Canadian industries that would be most acutely impacted by the death of the North American Free Trade Agreement are unable to meaningfully plan for a possible post-NAFTA world given the uncertainty of what could replace it, analysts and executives said. With three quarters of Canadian exports... 

Sinopec commits to R6bn upgrade of Chevron South Africa refinery as buyout deal gathers pace

     11th January 2018 Chinese oil company China Petroleum and Chemical Corporation (Sinopec) has undertaken to invest R6-billion to upgrade and modernise Chevron South Africa’s (CSA’s) Cape Town-based oil refinery, if it succeeds in its bid to acquire control of CSA. 

The No.1 miner is building an EV hub it doesn't want to keep

By: Bloomberg     11th January 2018 Electric vehicles could hold the key to BHP Billiton finally finding a buyer for its unwanted nickel operations. The world’s top miner is accelerating plans to transform Nickel West in Western Australia into a linchpin of the global supply chain for EV batteries. The switch in focus promises to... 

Gundlach says commodities set to outperform in late-cycle boom

By: Bloomberg     10th January 2018 Jeffrey Gundlach, the billionaire bond manager, said commodities may be one of the best investments this year as they surge during the late phase of the economic cycle. “I think commodities will outperform in 2018,” Gundlach said during his annual ‘Just Markets’ webcast on Tuesday, in which he... 

Second SA Hippo Flameproof Submersible Slurry Pump Goes To Houston.

     9th January 2018 The HIPPO flameproof submersible slurry pump range manufactured inSouthAfrica with a 98% local content has been exported to Canada since 2003. The specific controls that have been build into the pump has resulted in the HIPPO flameproof submersible slurry pump being regarded as the world’s safest... 

Australia shares end higher; NZ starts 2018 on strong note

By: Reuters     3rd January 2018 Australian shares closed higher on Wednesday, supported by gains in material stocks on the back of a rally in metal prices. 

Oil and gas firm Efora says deal to buy Belton Park lapses

By: African News Agency      2nd January 2018 Oil and gas company Efora Energy said on Tuesday its agreement to acquire the assets and operations of Belton Park Trading 134 had lapsed after outstanding conditions were not fulfilled. In October, Efora said it was buying Belton Park, which markets and sells petroleum products for an aggregate... 

Glencore completes sale of majority stake in oil storage assets

By: Reuters     29th December 2017 Diversified miner Glencore announced on Friday that it has completed the sale of a 51% interest in HG Storage International (HGSI) to HNA Innovation Finance Group, subject to certain regulatory approvals and closing conditions by US authorities. HGSI is a new vehicle which has consolidated... 

Supply discipline and demand to prop up oil prices in 2018

By: Reuters     28th December 2017 The Organisation of the Petroleum Exporting Countries (Opec) and Russia's efforts to curb oil output, combined with forecasts for strong global demand growth, are expected to keep crude prices close to $60/bl in 2018, a Reuters poll of analysts showed on Thursday. The survey of 32 economists and... 

Osisko Metals adds to Bathurst Mining Camp asset holdings

By: Henry Lazenby     28th December 2017 Base metals focused project developer Osisko Metals has signed an agreement to buy the Key Anacon claims and surrounding area, in the Bathurst Mining Camp (BMC) of New Brunswick, from Hunter Brook Holdings. Based in Montreal, Quebec, Osisko has in recent quarters been actively consolidating base... 

Fuel shortages leave motorists stranded in Nigeria

By: African News Agency      27th December 2017 Many motorists and commuters have been stranded in Nigeria over the Christmas period following a three-week fuel shortage, Kenya’s Daily Nation reports. Long queues of motorists and buses were seen forming at petrol stations in a number of Nigeria’s major cities. Prices have been hiked... 

Pretium seeks to lift Brucejack production to 3 800 t/d

By: Henry Lazenby     22nd December 2017 TSX- and NYSE-listed miner Pretium Resources has submitted an application to the British Columbia Energy, Mines and Petroleum Resources and the province’s Environment and Climate Change Strategy Ministries to increase the Brucejack mine production rate to 3 800 t/d. The production increase will... 

Algeria's Sonatrach signs $500 mln deal with BP, Statoil

By: Reuters     20th December 2017 Algerian state-owned energy company Sonatrach has signed an agreement with BP and Statoil to produce an additional 11 billion cubic metres (bcm) of natural gas from its Tiguentourine gas field, Sonatrach's CEO said on Wednesday. The field produces 9 bcm per year, but more investment is needed to... 

OPINION: Platinum industry needs productive dialogue to survive

By: Creamer Media Reporter      19th December 2017 Platinum group metals (PGM) mining finds itself in a precarious situation. The price of platinum is in decline, producers’ profits have dropped significantly, the operational costs have been increasing, the threats of retrenchments are constant, the current regulatory uncertainty around the... 

Prospex buys into Tesorillo gas project

By: Megan van Wyngaardt     19th December 2017 Aim-listed investment firm Prospex Oil & Gas has agreed to acquire up to a 49.9% interest in the Tesorillo gas project in the Cadiz province, in southern Spain. Tesorillo contains a known gas discovery, estimated to hold gross unrisked prospective resources of 830-billion cubic feet of gas,... 

BC govt refuses KGHM’s Ajax environmental permit

By: Henry Lazenby     15th December 2017 The British Columbia provincial government on Thursday refused to issue Polish base metals miner KGHM Polska Miedź’s Ajax copper/gold mine a provincial environmental certificate, saying the adverse effects of the project outweigh the potential benefits. The news is a blow to the nearby City of... 

State of local mining regulations shun investment, says CoM report 

By: Dylan Slater     14th December 2017 The findings of a recently conducted Chamber of Mines (CoM) survey indicate that if South Africa’s mining industry shifts its focus to create an attractive policy, regulatory and governance environment – through ethical leadership, good governance and the adoption of competitive, stable and... 

India’s national oil, gas firms likely to get higher prices for gas from ‘difficult’ projects

By: Ajoy K Das     14th December 2017 India’s Petroleum and Natural Gas Ministry has forwarded a proposal for approval of the Union Cabinet that will more than double the price of natural gas produced by national oil, gas exploration and production (E&Ps) companies from fields categorised as “difficult”. However, contrary to demands... 

MRC refused mining right for West Coast mine

By: Megan van Wyngaardt     13th December 2017 South Africa’s Department of Mineral Resources (DMR) has refused to extend Australian junior Mineral Commodities’ mining rights application for its Tormin mineral sands mine, on the West Coast near Lutzville. In an attempt to accelerate early access to identified resources to extend its mining... 

Amplats makes progress in repositioning its portfolio

By: Dylan Slater     13th December 2017 Platinum miner Anglo American Platinum (Amplats) is making significant progress in repositioning its portfolio. This has, thus far, enabled the miner to move its production down the cost curve, thereby resulting in a more value enhancing portfolio. 

IHS Materials Price Index chalks up fourth weekly gain

By: Henry Lazenby     8th December 2017 The materials price index (MPI) from Global Insight by IHS Markit has reported the fourth week of consecutive gains, adding 0.5% last week. IHS Markit economist Cole Hassay said the increase was more broadly based than in recent weeks, with six of the ten subcomponents rising. Freight and ferrous... 

Bosch Ulwazi hosted a function recently to present ISO certificates to five emerging enterprises

     6th December 2017 Bosch Ulwazi hosted a function recently to present ISO certificates to five emerging enterprises, as part of the ‘Enterprise and Supplier Development’ (ESD) Transnet Pipelines Petroleum and Waste Recycling Programme. “Bosch Ulwazi works closely with small, medium and micro-sized enterprises... 

Vivo to gain 300 stations in 9 African countries in Engen share transaction

By: Schalk Burger     5th December 2017 Petroleum and energy company Vivo Energy, which represents oil multinational Shell’s brand of fuels and lubricants in Africa, will gain 300 service stations across nine African countries after it agreed to buys shares in oil multinational Engen International Holdings from Engen Holdings in... 

44 projects selected in latest round of WA’s exploration programme

By: Creamer Media Reporter      5th December 2017 Western Australian Mines and Petroleum Minister Bill Johnston on Tuesday announced the 44 successful projects that would benefit from the state government's Exploration Incentive Scheme (EIS) cofounded drilling programme. The successful Round 16 applicants include lithium, gold, copper, base... 

Total gains momentum in renewable energy sector

By: Anine Kilian     4th December 2017 Petroleum product manufacturer Total has become an indirect shareholder in Total Eren, formerly called Eren Renewable Energy, with a 23% interest. This follows approval of the transaction by the French competition authorities, as well as the consent of all involved stakeholders. 

Greenfield exploration on the rise in Australia

By: Mariaan Webb     4th December 2017 The search for new mineral deposits in Australia is starting to recover, with greenfield exploration expenditure increasing by 16.9% and exploration drilling by 23.3% in the September quarter. In original terms, total mineral exploration expenditure rose 6.8% to A$475.2-million, the Australian... 

Container supplier sees opportunities despite market slump

By: Nica Schreuder     1st December 2017 The chemicals, power generation, oil and gas, and petrochemicals sectors have created a significant demand for tanktainers, says container industry provider Container World. Tanktainers, or tank containers, are intermodal containers used to transport liquids, gases and powders as bulk cargo. 

SANDF orders field kitchens from Saab

By: Keith Campbell     1st December 2017 The South African National Defence Force (SANDF) has awarded a contract for mobile containerised kitchen systems to aerospace, defence and security group Saab. The contract will be executed by Saab at its facility in Centurion, just south of Pretoria. The value of the contract has not been... 

Omnia delivers double-digit H1 growth

By: Natasha Odendaal     28th November 2017 JSE-listed Omnia on Tuesday posted double-digit growth in earnings for the first half of the 2018 financial year as the agriculture segment normalised after harsh drought conditions ended and the mining segment started to show signs of improvement. Profit after tax increased by 27% to... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon

By: Martin Creamer     28th November 2017 The process of reconsidering the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill has generated a new range of procedural missteps and failed to address any of the substantive problems in the Bill, leaving the entire withdrawal of the Bill as the only constitutionally... 

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