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India takes US steel tariffs complaint to the WTO

By: Reuters     Updated 6 hours ago India has launched a complaint against the US to challenge President Donald Trump's tariffs on steel and aluminium, a filing published by the World Trade Organization (WTO) showed on Wednesday. Indian officials told Reuters last month that their government would open a WTO dispute if the... 

Eurasia’s West Kytlim fully operational

By: Creamer Media Reporter      Updated 7 hours ago The West Kytlim alluvial platinum mine, in the Ural mountains of Russia, is fully operational and is producing an average of 1.8 kg a day of raw platinum, Aim-listed Eurasia Mining reported on Wednesday. In the first two weeks of production, the mine produced 11.8 kg at a suggested average grade... 

Japan, Russia, Turkey bring potential US tariff retaliation to $3.5bn

By: Reuters     22nd May 2018 Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminium, the World Trade Organization said on Tuesday, bringing the total US tariff bill to around $3.5-billion annually. The three countries detailed their compensation claims in... 

Allied Steelrode, seven others join task force to lobby for support of downstream steel industry

By: Marleny Arnoldi     21st May 2018 Steel supplier and processing company Allied Steelrode has affirmed its commitment to an industry representative group the CEO Task Force, which will aid in regenerating the country’s steel sector, through mobilising the downstream industry – which suffers the most when challenges arise in the... 

Polyus says Natalka operating at 80% capacity

By: Creamer Media Reporter      21st May 2018 The new greenfields Natalka mill in the Tenkinskiy district of Russia’s Magadan region is operating at 80% of its design throughput capacity of ten-million tons a year, LSE-listed Polyus reported on Monday. Natalka, which has produced more than 40 000 oz of gold since the beginning of the year,... 

Barloworld H1 profits, revenue rise on higher Southern African, Russian equipment sales

By: Marleny Arnoldi     21st May 2018 Despite a weaker first quarter, the global economy remains on track to show solid growth for 2018 in both developed and emerging markets, while South Africa’s economic outlook is also improving, benefiting multinational Barloworld. The company on Monday reported a 14.2% year-on-year increase in... 

The scramble for Somalia

By: Martin Zhuwakinyu     18th May 2018 The Horn of Africa nation of Somalia is better known as the poorest country on earth, with a per capita gross domestic product of $400, and for lacking a coherent government since the 1991 ouster of Mohamed Siad Barre as President. What many do not remember is that it was one of the first newly... 

Russia's Alrosa may buy diamond polisher Kristall in 2018 - Finance Ministry

By: Reuters     17th May 2018 Russian diamond miner Alrosa may buy State-owned diamond polisher Kristall in 2018, Russia's Deputy Finance Minister Alexei Moiseev said on Thursday. Alrosa, the world's largest rough diamond producer by output, said previously it was "expedient" for it to buy Kristall when the state-owned... 

Nuclear, renewables must complement each other in South Africa – Cilliers

By: Anine Kilian     17th May 2018 Nuclear and renewables are being pitted against each other in South Africa, which is not helpful in the energy solution space, says professional engineer Dr Anthonie Cilliers, arguing that the technologies should complement one another as part of the broader energy mix. Speaking to Engineering... 

Congo billionaire seeks French loan to develop iron-ore railway

By: Bloomberg     17th May 2018 Paul Obambi, a billionaire investor in the Congo Republic, is in talks with French lenders to fund a railway he’s building to export iron-ore. Obambi’s company Sapro SA is negotiating with “a consortium of banks” to finance the 450-km track that will link the southwestern town of Mayoko to a... 

Eskom continuing with nuclear plans pending IRP update

By: Kim Cloete     17th May 2018 Eskom is going ahead with tentative plans for new nuclear capacity amid uncertainty about whether the technology will be included in the updated Integrated Resource Plan (IRP), which government has indicated will be released for public comment soon. Eskom acting general manager for nuclear new... 

Alrosa sees rosy prospects from colourful diamonds

By: Reuters     16th May 2018 Russia's Alrosa, the world's largest diamond producer by output, plans to boost revenue from selling rare, coloured stones where demand is stable, although it is a niche business. Nature gives fancy colours to about one in every 10 000 rough diamonds of gem quality that are mined around the world. 

Rosatom, Zambia to build nuclear science centre

By: Anine Kilian     16th May 2018 Russia’s Rosatom and Zambia have signed an agreement for the construction of the Centre for Nuclear Science and Technology (CNST) in the Southern African country. Construction of the centre will be the first joint project between Russia and Zambia in the field of nuclear technologies.  

Mondi Q1 performance strong despite maintenance shutdowns, challenging trading conditions

By: Marleny Arnoldi     16th May 2018 Paper and packaging multinational Mondi achieved an underlying profit of €295-million for the first quarter ended March 31 – a 15% improvement on the underlying profit of €256-million reported for the first quarter of 2017 and a 6% improvement on the €279-million reported for the fourth quarter... 

Russian billionaires trade barbs as Potanin testifies in court

By: Bloomberg     16th May 2018 In the second day of London court hearings, billionaire Vladimir Potanin couldn’t pass up the chance to throw a few barbs to his long-running rival Oleg Deripaska. Potanin took the stand on Tuesday in a case involving a dispute over the sale of shares in MMC Norilsk Nickel, Russia’s biggest... 

LBMA suspends Russian precious metals refinery from 'good delivery' lists

By: Reuters     15th May 2018 The London Bullion Market Association said on Tuesday it had suspended the Ekaterinburg Non-Ferrous Metals Processing Plant from its gold and silver good delivery lists due to "ownership related issues". The refinery in Russia is controlled by Moscow-based conglomerate Renova Group, which along... 

1 000 new nuclear reactors needed to meet global energy demand by 2050 – WNA

By: Anine Kilian     15th May 2018 The world will need to build 1 000 new nuclear reactors to meet global energy demand by 2050, World Nuclear Association (WNA) Harmony Programme adviser Jeremy Gordon said at AtomExpo, in Sochi, Russia, on Monday. He added that nuclear power was in the past 25 years growing at the fastest rate... 

Necsa’s NTP back at full production, wins AtomExpo award  

By: Anine Kilian     15th May 2018 The South African Nuclear Energy Corporation’s (Necsa’s) NTP Radioisotopes arm, which won the AtomExpo Award for the best project in the nonenergy-related use of nuclear energy, on Monday, is back at full production, with both hot cells at its Pelindaba facility in full operation. The facility... 

Botswana President eyes jobs in new 'marriage' with De Beers

By: Bloomberg     15th May 2018 Botswana’s President, Mokgweetsi Masisi, wants a new long-term diamond-sales pact with De Beers when the current ten-year deal expires in 2020 and for more gems to be processed locally. The conclusion of an accord is crucial for both Botswana, which relies on diamonds for almost a fifth of its... 

Alrosa steps up diamond marketing as miner eyes more cutting

By: Bloomberg     15th May 2018 Alrosa, the world’s largest diamond miner by output, is increasing its marketing efforts and targeting new opportunities in gem cutting at a time when the market is showing signs of starting to stabilize. The Russian firm, which typically hasn’t promoted stones outside Russia, last year... 

Russian billionaires take boardroom battle to London High Court

By: Reuters     15th May 2018 Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich. Deripaska, making his first public appearance since being made a target of US sanctions, wants to stop... 

Ramaphosa appoints Mabuza as Russia envoy

By: News24Wire      14th May 2018 President Cyril Ramaphosa has appointed Deputy President David Mabuza as his special envoy to Russia, according to a statement from the Presidency. The move appears to set a point of departure on South Africa’s role in the BRICS group of emerging economies which include Brazil, Russia, India and... 

Platinum surplus to widen; fuel cells seen as key driver for future demand

By: Marleny Arnoldi     14th May 2018 The platinum market will move further into oversupply this year, as production from South Africa remains flat and demand is forecast to contract by 2.5%, the latest Johnson Matthey platinum group metals (PGM) market report states.  

Bayer to sell South African cotton seed business as part of Monsanto merger conditions

By: Marleny Arnoldi     11th May 2018 The Competition Tribunal on Friday approved a merger between German multinational pharmaceutical and life sciences company Bayer and US multinational agrochemical corporation Monsanto on the condition that the merged entity sell the Bayer South African cotton seed business.  

Rusal's first quarter earnings jump, but warns on sanctions impact

By: Reuters     11th May 2018 Russian aluminium giant Rusal boosted first-quarter recurring net profit on Friday amid stronger aluminium prices, but warned that sanctions imposed by the United States in April could harm its business. Washington last month announced sanctions on Russian billionaire Oleg Deripaska and several... 

No casualties in fire at Russia's Raspadskaya coal mine, Evraz says

By: Reuters     11th May 2018 No miners were hurt in a fire that broke out on Thursday at Russia's Raspadskaya coal mine, steelmaker Evraz said. Evraz, which controls Raspadskaya, said all miners had been evacuated and that the blaze is thought to have started in the mine's technical equipment. 

Nuclear energy vital in building sustainable economy 

By: Melissa Zisengwe     11th May 2018 The adoption and implementation of nuclear energy would help the country reach its energy targets and build a sustainable economy, says independent economic risk consultant Rob Jeffrey. “South Africa’s prioritisation of economic growth should include adopting an effective and efficient energy... 

Ministers from SA and India stress bilateral opportunities at business summit

By: Rebecca Campbell     11th May 2018 India has progressed from having almost no trade with South Africa in 1994 to today being the country's sixth to eight largest trading partner, South African Trade and Industry Minister Dr Rob Davies has highlighted. He was addressing the recent India-South African Business Summit in Sandton,... 

The rise of AI in Africa

By: Martin Zhuwakinyu     11th May 2018 An extraordinary visitor graced the Creative Industry Summit, which was held in the Egyptian capital of Cairo last month. Like other attendees, she has a name and a nationality and is apparently well informed about current affairs. But, unlike everyone else, she was not born of flesh and blood.... 

West Kytlim off to a good start as 2018 mining season kicks off

By: Mariaan Webb     10th May 2018 The West Kytlim alluvial gold and platinum mine, in the Ural mountains of Russia, has started the 2018 mining season on a high note, with 4.6 kg of raw platinum having been produced in the first six days of production. Aim-listed Eurasia appointed Techstroy to mine at West Kytlim and executive... 

Kinross reels as two more Africa nations seek mining payoffs

By: Bloomberg     10th May 2018 Kinross Gold is the latest miner to be hit by changing policies in Africa as governments seem increasingly willing to upend historic deals with foreign companies in their quest for more mining revenue. Mauritania’s rejection of a key permit to expand a Kinross project, and a proposed mining code... 

Shareholder group seeks removal of Petropavlovsk directors

By: Mariaan Webb     9th May 2018 London-listed Petropavlovsk is facing a potential shareholder revolt with two groups moving to have all the company’s directors removed and for the reinstatement of former CEO Pavel Maslovskiy to the board. The gold miner, which operates in Russia, said on Wednesday that it had received a... 

MTN’s Iran headaches return as US reimposes economic sanctions

By: Natasha Odendaal     9th May 2018 In the wake of fresh US sanctions against Iran, telecommunications group MTN will remain alert to the challenges of continuing the repatriation of its cash from 49%-owned MTN Irancell. The US on Tuesday withdrew from the multilateral Joint Comprehensive Plan of Action (JCPOA) agreement and... 

Kinross reports knock-out Q1 profit

By: Henry Lazenby     9th May 2018 Canadian multinational gold producer Kinross Gold has reported a 435% jump in headline profit for the three months ended March 31, as 30% higher year-on-year margins and a decrease in depreciation, depletion and amortisation boosted the bottom line. Adjusted net earnings increased to... 

Power market restored to Rusal's Swedish aluminium smelter

By: Reuters     8th May 2018 Europe's leading power market Nord Pool restored access on Tuesday to Rusal's Swedish aluminium smelter after it was suspended from trading in the wake of US sanctions on the Russian company. Nord Pool suspended Rusal's Kubal smelter from trading on its exchange on April 18 due to violations of... 

Qatar steps in to buy Rosneft stake after China deal collapses

By: Bloomberg     7th May 2018 Qatar emerged as a major shareholder in Rosneft on Friday after a $9-billion deal to sell a stake in Russia’s State-run oil producer to China’s troubled CEFC Energy collapsed. Qatar Investment Authority stepped in after the sellers – a consortium of QIA itself and mining giant Glencore – told... 

Vanadium market expected to achieve 3.2% CAGR to 2027

By: Nadine James     4th May 2018 Diversified miner Bushveld Minerals expects the vanadium market to expand by a compound annual growth rate (CAGR) of 3.2% between 2017 and 2027, on the back of strong steel demand and a growing energy storage market, Bushveld Minerals CEO and cofounder Fortune Mojapelo said in a webcast on... 

South African NPO suing Indian IT multinational for intellectual property theft

By: Marleny Arnoldi     4th May 2018 One of India’s largest multinational companies, information technology firm Wipro, is being taken to court for allegedly appropriating the intellectual property (IP) of a small South African nonprofit organisation.  

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