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Russian Jan-July gold output flat at 157.19 t

By: Reuters     16th November 2018 Russia produced 157.19 t of gold in the first seven months of 2018, exactly the same amount as in the same period last year, the Finance Ministry said on Friday. Production for the period included 129.34 t of mined gold compared with 126.39 t a year ago, the Ministry said. 

Is Basic Sanitation a Human Right?

By: Creamer Media Reporter      7th November 2018 From 2005 to 2017, Human Rights Watch conducted research in countries such as China, Russia, Nepal, South Africa, India and America to assess the levels of sanitation and other basic human rights. Senior women’s rights researcher at Human Rights Watch, Amanda Klasing, said, “The way people are... 

ALROSA to present more than 100 special size rough diamonds in Israel

2nd November 2018 ALROSA, the world's largest diamond mining company, will hold an auction for the sale of special size rough diamonds (over 10.8 carats) and polished diamonds of own manufacture. The auction will take place in one of the world's largest diamond trade centers - Ramat Gan (Israel), on November 4-22.... 

South Africa moves to reboot digital migration after years of delay 

By: Natasha Odendaal     2nd November 2018 Following years since embarking on, and the subsequent stalling of, South Africa’s migration from analogue to digital broadcasting, the Department of Communications (DoC) hopes to revive its momentum after revising its digital migration delivery model. The revised model approved by Cabinet in... 

South Africa moves to reboot digital migration after years of delay

By: Natasha Odendaal     2nd November 2018 Following years since embarking on, and the subsequent stalling of, South Africa’s migration from analogue to digital broadcasting, the Department of Communications (DoC) hopes to revive its momentum after revising its digital migration delivery model. The revised model approved by Cabinet in... 

Global gold demand growing across market segments, held back by US ETF outflows

By: Marleny Arnoldi     1st November 2018 World Gold Council (WGC) member and market relations head John Mulligan says the third quarter was a strong one for the global gold industry. Although demand increased by only 1%, or 6 t, compared with the third quarter 2017, the 964 t of gold demand recorded in the third quarter was underpinned... 

Russian rail group aims to develop newly acquired Boksburg factory into global narrow-gauge hub

By: Terence Creamer     31st October 2018 Leading Russian rail engineering group Transmashholding (TMH) confirmed on Wednesday that it, together with its South African partner Mjisa, had completed the acquisition of a 45 000 m2 rail manufacturing facility in Gauteng, South Africa. Black empowerment company Mjisa, which is led by Mafika... 

Alrosa starts mining at new 1.8m ct/y deposit

By: Mariaan Webb     31st October 2018 Russian diamond miner Alrosa has marked the official start of diamond mining operations at the Verkhne-Munskoye diamond field, which will produce about 1.8-million carats a year for the next 20 years, replacing capacity from the flooded Mir mine. Verkhne-Munskoye will be using the processing... 

Nornickel says Q3 nickel output up 9% q/q

By: Reuters     31st October 2018 Russia's Norilsk Nickel (Nornickel) said on Wednesday its consolidated nickel production was at 53 739 t in the third quarter of 2018, up 9% quarter-on-quarter. Nornickel, one of the world's largest nickel and palladium producers, also said its palladium production totalled 699 000 troy ounces,... 

US steel tariff fight stirs up a swarm of WTO litigation

By: Reuters     30th October 2018 The United States urged European Union governments on Monday to reflect on whether it was really in their interest to go ahead with a trade dispute over US metals tariffs, and said it was hopeful of settling the issue with Mexico and Canada. The US tariffs attracted an unprecedented seven... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

GM cautious on switch to platinum even as palladium price soars  

By: Bloomberg     30th October 2018 Palladium’s surge to a record has intensified talk among analysts that carmakers will look to replace it with cheaper platinum for use in pollution-control devices. The auto industry’s answer: Not so fast. Palladium, mainly used to control smog from gasoline engines, is trading near the highest... 

Advocacy organisation urges better enforcement of second-hand tyre regulations

By: Marleny Arnoldi     29th October 2018 Newly launched advocacy organisation Part Worn Africa is calling on governments and regulatory bodies across the African continent to develop and enforce stronger regulations governing the sale of part-worn and second-hand tyres. Part Worn Africa advocates that part-worn and second-hand tyres... 

Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments  

By: Terence Creamer     26th October 2018 President Cyril Ramaphosa declared an end to South Africa's proverbial 'investment strike', when he unveiled firm investment commitments of R290-billion across a diverse range of sectors, from mining and energy to infrastructure and manufacturing, at a well attended and vibrant investment... 

Leagold says Santa Luz restart requires $82m

By: Creamer Media Reporter      26th October 2018 Vancouver-based Leagold has completed an updated feasibility study for the Santa Luz project that it acquired in the recent Brio takeover, which demonstrates the potential for restarting 100 000 oz/y mine at a cost of $82-million. However, the company’s first priority remains to optimise its... 

West Kytlim’s 2018 output exceeds estimates

By: Creamer Media Reporter      25th October 2018 The West Kytlim alluvial platinum mine, in the Ural mountains of Russia, finished the 2018 mining season with total raw platinum production “well in advance” of company estimates, listed miner Eurasia Mining reported on Thursday. The mine delivered 165 kg of platinum, or 165% of company... 

Central banks to increase gold buying for first time since 2013  

By: Bloomberg     24th October 2018 Central banks are set to increase their purchases of gold in 2018 for the first time in five years as eastern European and Asian countries seek to diversify their reserves. Net purchases of gold by central banks are forecast to rise to 450 metric tons this year, up from 375 tons in 2017,... 

Don’t limit renewables in IRP, urges prominent activist

By: Kim Cloete     24th October 2018 Prominent activist Liz McDaid has called on the government not to limit the construction of renewable energy capacity under the draft Integrated Resource Plan (IRP) 2018. “A look at the IRP says renewables must be constrained. The rationale for restricting renewables is to pull nuclear or coal... 

Palladium reaches record on mounting concerns over tight supply

By: Bloomberg     23rd October 2018 Palladium, a precious metal widely used in the automotive industry, has hit an all-time high. The rally has been fueled by concern over supply and speculators piling in to bet on even higher prices. The majority of palladium is used to make catalytic converters in gasoline automobiles, and... 

Global trade and development trends impact on South Africa, present opportunities

By: Tasneem Bulbulia     22nd October 2018 The recently released United Nations Conference on Trade and Development (Unctad) Trade and Development Report for 2018, entitled ‘Power, Platforms and the Free Trade Delusion’, outlines a number of lessons that South African can learn, and also presents opportunities for the country to... 

Uranium market's Aramco unveils London IPO despite Trump threat

By: Bloomberg     22nd October 2018 The initial public offering (IPO) of the world’s largest oil producer Saudi Aramco may be on the back burner, but the IPO of its uranium-market equivalent is full steam ahead. Kazatomprom, the world’s No. 1 producer of the nuclear fuel, on Monday said it would list as much as 25 percent of its... 

Palladium nears record after hedge funds piled in amid shortages

By: Bloomberg     22nd October 2018 Palladium climbed near a record as the US plans to pull out of the nuclear weapons pact with Russia, fueling tensions with one of the largest producers at a time when consumers are already scrambling for supplies. Production will trail consumption by 481 000 ounces this year and deficits will... 

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

China's Shandong Zhaojin seeks South American mining assets

By: Reuters     19th October 2018 Shandong Zhaojin Group, one of China's biggest gold miners, is scouring assets in South America as it looks to invest in its first overseas mining project, its general manager said on Friday. The company has set up a representative office in Machala, capital of Ecuador's El Oro province,... 

ALROSA starts large rough diamond auction in Vladivostok

19th October 2018 ALROSA, the world's largest diamond mining company, is starting the forth auction this year for the sale of special size rough diamonds (over 10.8 carats) in Vladivostok. The auction will start on October 22, and the results will be announced on November 2.   The company is putting for sale 166... 

De Beers eyes tech markets for synthetic diamonds future 

By: Reuters     19th October 2018 Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting. Element Six, De Beers' synthetic diamond arm, is building a $94-million factory in Portland, Oregon, an... 

Five Reasons Why South Africans Are Applying for Citizenship-by-Investment

By: Creamer Media Reporter      19th October 2018 Citizenship-by-Investment is on the rise globally with over 2.4bn USD spent each year derived mostly from China, the Middle East, and Russia, with South Africa not far behind.   Next Generation Equity (NGE), global specialists in second citizenships and residency options, says South Africa is... 

IRP 2018 suffers from major failings, nuclear analyst claims

By: Rebecca Campbell     19th October 2018 South Africa's Integrated Resource Plan (IRP) 2018 contained serious flaws which significantly undermined confidence in its recommendations. So affirmed University of the Witwatersrand Honorary Research Fellow and South African Network for Nuclear Education, Science and Technology National... 

Highland ups Sept quarter production

By: Mariaan Webb     18th October 2018 Aim-listed Highland Gold, which operates the Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora mines in Russia, boosted its September quarter output by 4.4% year-on-year to 74 826 oz of gold and gold equivalent. Its nine-month output came to 203 747 oz and the company reported on... 

Organisations raise objections to the draft IRP

By: Kim Cloete     17th October 2018 Industry bodies and organisations have welcomed aspects of the draft Integrated Resource Plan 2018 but have also raised concerns during public hearings held in Parliament on Wednesday. They are hoping that their suggestions will be included in a final plan for South Africa’s energy future. 

Indian potash import prices surge 21%

By: Ajoy K Das     17th October 2018 Indian potash import prices have surged 21% to about $290/t for deliveries contracted between September 2018 and July 2019. Importers have warned that higher prices, coupled with a sharp depreciation of the Indian rupee below the Rs73 a dollar mark, would sharply increase the landed price of... 

James Cameron joins Petropavlovsk board

By: Creamer Media Reporter      15th October 2018 US lawyer James Cameron and UrAmerica chairperson Damien Hackett have joined the board of Russian gold miner Petropavlovsk as independent nonexecutive directors with immediate effect. Cameron is well known in business circles in California as a successful entrepreneur and investor and has had... 

Polymetal obtains controlling stake in noncore Veduga

By: Creamer Media Reporter      15th October 2018 Gold miner Polymetal International has obtained a controlling interest in the Veduga deposit in Russia’s Northern Yenisey belt, opening the door for “multiple strategic options” for the noncore asset. The miner has agreed to increase its stake in the Veduga deposit to 74.3% through the... 

Prognoz likely to succeed Dukat as one of world’s largest silver deposits – Polymetal

By: Creamer Media Reporter      10th October 2018 LSE-listed Polymetal has announced an updated mineral resource estimate for the Prognoz silver deposit, in Yakutia, Russia, which the company says has the potential to be one of the world’s largest primary silver deposits. Prognoz has resources of 256-million ounces of silver-equivalent at 789 g/t. 

ANC, opposition parties welcome Mboweni, praise Nene

By: News24Wire      9th October 2018 Former South African Reserve Bank governor and newly appointed Finance Minister Tito Mboweni is highly accomplished and should be able to hit the ground running. This was the sentiment from the ANC and opposition parties after the news broke that Mboweni would replace former minister, Nhlanhla... 

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... 

UMMC mining firm draws first €100m syndicated loan

By: Reuters     9th October 2018 Russia's Urals Mining and Metals Co (UMMC) said on Tuesday it had drawn a three-year €100-million syndicated loan from a group of banks to refinance loans and increase its working capital. The syndicated loan, the first drawn by UMMC, was structured in the form of pre-export financing secured... 

IMF cuts world economic growth forecasts as import tariffs, emerging market issues bite

By: Reuters     9th October 2018 The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows. The... 

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