R/€ = 14.39 Change: 0.11
R/$ = 12.87 Change: 0.06
Au 1266.92 $/oz Change: -0.32
Pt 962.00 $/oz Change: 2.00


ArcelorMittal consortium wins bid to buy Italy's Ilva steel plant – source

By: Reuters     26th May 2017 ArcelorMittal and steel processor Marcegaglia have won a bid to buy troubled Italian steel plant Ilva, a source with knowledge of the matter said on Friday. The world's top steelmaker and its Italian partner offered just under €2-billion ($2.24-billion) for the loss-making plant, Europe's biggest... 

Acacia says committee’s findings on its Tanzanian gold exports inaccurate

By: Megan van Wyngaardt     26th May 2017 Tanzania-focused Acacia Mining on Friday said it could not agree with the findings of a report, compiled by a Presidential Committee tasked with investigating the export of gold and copper concentrates. President John Magufuli on Wednesday released the findings of the report and announced that... 

Durban port takes delivery of Umbilo tug

By: Shirley le Guern     26th May 2017 “Made for Durban in Durban” is how Transnet National Ports Authority (TNPA) CEO Richard Vallihu described the Umbilo, the latest tug to be launched in Durban, on Friday. The sixth to roll off the South African Shipyards’ (SAS’s) production line, the Umbilo will be the first tug to be based at its... 

Real-world applications of blockchain-enabled supply chains

     26th May 2017 This is the second of a two-part series examining the impact of blockchain technology on supply chains. In part I we examined how blockchains work, and the potential game changing impact of this new technology on supply chains as a record keeping, verification, tracking and transaction switching... 

Surcotec’s thermal spray coating solutions has the Western Cape marine market covered

     26th May 2017 The marine industry is a notoriously harsh environment for equipment, parts and components due to accelerated corrosion in a seawater atmosphere and severe operating conditions. Leading thermal spray company, Surcotec, in partnership with Thermaspray, offers a range of high quality thermal spray... 

PE composites cluster investigates basalt, kenaf potential

By: Irma Venter     26th May 2017 Nelson Mandela Bay Composites Cluster MD Andy Radford says the cluster has mapped the value chain for the production and application of basalt in composites. He says the cluster is at an advanced stage of securing local and global beneficiators and buyers for the mineral for use in composite... 

Bungala solar photovoltaic project, Australia

By: Sheila Barradas     26th May 2017 The project comprises the construction of two solar plants with a capacity of 137.5 MW each. 

Chairside milling beneficial for dental industry

By: Marleny Arnoldi     26th May 2017 With the dental industry moving towards chairside milling for clinics, digital production solutions company Telpro Management launched electronics manufacturer Roland’s DWX-52DC tooth milling machine last month.  

Ethane steam cracker and polyethylene facility project, US

By: Sheila Barradas     26th May 2017 The project involves the construction of a new light feed cracker and a new polyethylene facility on the US Gulf coast. 

Jasco acquires majority stake in Reflex

By: Natasha Odendaal     25th May 2017 JSE-listed Jasco Electronics has acquired a majority 51% stake in Johannesburg-based information technology (IT) managed services group Reflex Solutions for R39.8-million. The acquisition of Reflex, which recently expanded into fibre-to-the-home (FTTH) solutions, adding to a portfolio of hosted... 

Adani's $16.5bn Aussie mine rattled by tax deal delay

By: Bloomberg     25th May 2017 India’s Adani Group could walk away from its $16.5-billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal Resources Minister Matthew Canavan. The Queensland government’s failure to agree the terms of the royalty regime... 

Yancoal offers $710m for Mitsubishi’s stake in Hunter Valley mines

By: Esmarie Swanepoel     25th May 2017 ASX-listed Yancoal Australia has made a tag-along offer to acquire Mitsubishi Development’s 32.4% interest in the Hunter Valley operations for $710-million. The tag-along offer fulfilled Yancoal’s obligation to Mitsubishi under the sale and purchase agreement for Yancoal’s $2.45-billion buy of... 

General Motors rebuffs allegations of acting in bad faith

By: African News Agency      25th May 2017 General Motors (GM) on Wednesday rebuffed allegations that it had acted unilaterally without consulting trade unions about its disinvestment from South Africa and the resulting imminent retrenchments. This comes after GM announced last week that it was disinvesting from South Africa and that it... 

Djibouti opens new port as part of $7bn/y free-trade zone plan

By: Reuters     25th May 2017 Djibouti has formally opened one of four new ports designed to cement the tiny Horn of Africa nation's position as a continental hub, a statement from the ports authority said on Wednesday. Doraleh Multipurpose Port has been substantially upgraded as part of a Chinese-backed plan to establish... 

SACP denounces disinvesting General Motors acting in bad faith

By: African News Agency      24th May 2017 The South African Communist Party (SACP) came out in support of workers at General Motors South Africa (GMSA) and its supply chain on Wednesday, denouncing the disinvesting company for allegedly acting unilaterally and in bad faith towards the labour movement. “The SACP expresses its message of... 

Acacia’s shares fall as Tanzania committee says it under-declared concentrate exports

By: Creamer Media Reporter      24th May 2017 Acacia Mining’s share price on the LSE fell by more than 20% on Wednesday after it reported that a Tanzanian Presidential Committee that was set up to investigate if mining companies are paying their fair share of taxes, had found that the gold miner had not fully declared all minerals contained... 

Numsa demands full disclosure of GM deal with Isuzu

By: African News Agency      24th May 2017 The National Union of Metalworkers of South Africa (Numsa) said on Wednesday that it was demanding full disclosure on General Motors' (GM's) deal with Isuzu. This comes after the Numsa officials met with GM employees on Tuesday in Port Elizabeth to discuss details of the company’s decision to... 

GM’s exit from SA likely to see the loss of 589 jobs 

By: Irma Venter     22nd May 2017 The decision by General Motors (GM) to pull out of South Africa will, most likely, cut 589 jobs at GM South Africa (GMSA) as it restructures to form Isuzu Motors South Africa (IMSA), says GMSA. GMSA employs around 1 800 people. 

Iron stockpiles hit record in China as quality gets scrutiny

By: Bloomberg     22nd May 2017 he record heap of iron-ore on China’s doorstep just got even bigger, with the increase in holdings so far this year eclipsing the build up seen over all of 2016 as mills produce unprecedented amounts of steel. Stockpiles at ports rose 1.3% to 136-million metric tons, expanding for a fourth week,... 

Adani defers Australian coal project investment decision

By: Reuters     22nd May 2017 India's Adani Enterprises on Monday deferred a final investment decision on its long-delayed Australian Carmichael coal project as the Queensland state government has yet to sign off on a royalty deal for the mine. The company had been planning to make a final investment decision (FID) on the... 

GM’s departure from SA will hurt suppliers, says Naacam

By: Irma Venter     19th May 2017 The decision by General Motors (GM) to pull out of South Africa will “have negative consequences on component suppliers to the company’s existing Chevrolet assembly lines”, says National Association of Automotive Component and Allied Manufacturers (Naacam) executive director Renai Moothilal. “We... 

Megabridge construction on N2 highway project to start later this year 

By: Irma Venter     19th May 2017 The construction of two megabridges, as part of the South African National Roads Agency Limited’s (Sanral’s) N2 Wild Coast Toll Road (N2WCTR) project, is expected to begin between August and October this year, says Sanral’s bridge network manager Edwin Kruger. “The tenders for the two bridges –... 

BBI finds foundation project for Balla Balla

By: Esmarie Swanepoel     19th May 2017 Infrastructure developer BBI Group has struck a deal with the subsidiary of Mineral Resources, for an option to acquire the Weelumurra iron-ore project, in Western Australia. The project is some 15 km from BBI’s proposed Central Pilbara rail head and stock yard, and had the potential to be the... 

Adani vows to pay ‘every cent’ owed to Qld as talks of royalty holiday emerge

By: Esmarie Swanepoel     19th May 2017 Indian major Adani is reportedly in talks with the Queensland government over a “royalty holiday” for its $16.5-billion Carmichael coal project. Local media reports state that the proposed agreement will see Adani pay just A$2-million a year in royalties once the project starts operating, with... 

KZN coal mine supplying communities’ water needs and more, mulls output expansion 

By: Ilan Solomons     19th May 2017 The Zululand region of KwaZulu-Natal was afflicted by what the Department of Water and Sanitation described as the “worst drought in a century” in 2016 and is still one of the water-scarce areas of the country. Helping neighbouring communities survive this disaster, investment company Menar... 

Champion signs on offtake partner for Bloom Lake

By: Henry Lazenby     19th May 2017 Canadian iron-ore project reviver Champion Iron on Thursday announced that subsidiary Quebec Iron Ore (QIO) had signed an offtake agreement and arranged bridging financing for the restart of the Bloom Lake iron-ore mine, located about 400 km north of the Port of Sept-Îles, in Quebec. Japanese... 

Company reaches 400-mark installation milestone

By: Marleny Arnoldi     19th May 2017 Water solutions company Amanziflow Projects have installed more than 400 of its locally developed Fluid Dynamic Systems automatic diaphragm valves (FDS-DVs) across Southern Africa to date.  

Deal opens way for new liquid bulk handling facility at the Port of Ngqura

By: Irma Venter     19th May 2017 Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (OTGC) in May signed an agreement in Port Elizabeth that will see OTGC plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura, in the Eastern Cape. The facility’s concept... 

World record set after large oil rig lifted and shipped in one piece

By: Dylan Slater     19th May 2017 North Sea oil rig the Brent Delta platform, belonging to oil company Shell UK, was recently successfully lifted off of its three-legged structure in the Brent oilfield, about 180 km off the coast of the Shetland Islands last month, setting a world record for the heaviest single-piece lift at sea.  

Thyspunt nuclear power plant would bring great benefits to the region – CDC 

By: Kim Cloete     18th May 2017 The Eastern Cape is holding out hope that the planned Thyspunt nuclear power plant will be built in the province despite the nuclear deal being put on ice for now. Coega Development Corporation (CDC) energy business development manager Sandisiwe Ncemane said the plant would hold great economic... 

General Motors pulls out of SA, GMSA to become Isuzu Motors SA

By: Irma Venter     18th May 2017 US vehicle manufacturer General Motors (GM) on Thursday announced that it would disinvest from South Africa as part of a global restructuring process. GM South Africa (GMSA) sells the Opel, Isuzu and Chevrolet brands in South Africa. 

Shadow Minerals Minister warns of ‘disastrous’ mining outlook 

By: Martin Creamer     18th May 2017 Shadow Mineral Resources Minister James Lorimer forecasts that South Africa’s new minerals legislation and new charter will be “disastrous” for an industry already crippled by hugely diminished capital injection and massive year-on-year job loss. The Opposition Democratic Alliance (DA) MP, who... 

Creamer Media to partner with Joburg annual mining event

By: Creamer Media Reporter      18th May 2017 As a media partner for the event, Mining Weekly will publish a Preview Feature about the Joburg Indaba in the edition dated 29 September 2017. To find out more about this great marketing opportunity or to secure an advertisement space contact Creamer Media’s advertising department on 2711 622... 

South Africa’s Agoa eligibility likely to come under pressure before 2025, trade expert warns 

By: Terence Creamer     17th May 2017 A leading trade expert is urging those South African businesses currently benefiting from preferential market access to the US under the Africa Growth and Opportunity Act (Agoa) to begin to “wean” themselves off such benefits, owing to the increased risk of those preferences being revoked ahead... 

African Export Import Bank to invest up to $500m in Gambia

By: Reuters     16th May 2017 The African Export Import Bank (Afreximbank) will invest up to $500-million in Gambia, its president said, an economic boost to the impoverished West African country ostracized by investors under former president Yahya Jammeh. The money will go towards tourism, infrastructure and agriculture in... 

Engen and Supersport United give back to grassroots football in Port Elizabeth

     15th May 2017 Engen, South Africa’s leading petroleum brand*, and partners SuperSport United continue to give back to local communities.  On Tuesday, 16 May 2017 in conjunction with Engen Knockout Challenge Port Elizabeth host club Glenville Celtic, they will be hosting a coaching clinic for 60 children at the... 

City of Cape Town a hub for food and beverage manufacturing sector – deputy mayor

By: African News Agency      15th May 2017 The City of Cape Town has set itself the goal of establishing Cape Town as a forward-looking, globally competitive business city, deputy mayor Ian Neilson said on Sunday. Cape Town already boasted some of South Africa’s largest food and beverage manufacturing companies, making the city a... 

WAFM completes scoping study

By: Anine Kilian     12th May 2017 A recently completed scoping study on Aim-listed West African Minerals Corporation’s (WAFM’s) Cameroon-based Sanaga iron-ore project has identified two potential pathways to production of 2.4-million tonnes a year of premium grade iron-ore concentrate. The study indicates robust economics and... 

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