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Dalian iron-ore up on demand concerns, but edges off 3-week high

By: Reuters     Updated 1 hour 8 minutes ago Chinese iron-ore futures hit three-week highs on Monday, supported by firmer steel prices as producers curb output in line with China's campaign for bluer skies. But they pulled back from the highs on worries demand for the raw material would weaken in coming months as the steel output cuts deepen. 

Jiangxi Special Electric plans to take stake in Australian lithium miner

By: Reuters     19th October 2017 China's Jiangxi Special Electric Motor said on Thursday it planned to buy a stake in an Australian lithium mining and exploration company, the latest electric vehicle company to scoop up supplies of raw materials. Jiangxi, which makes electric vehicles and lithium batteries, said its German... 

China's CEFC eyes big league with Rosneft oil offtake deal

By: Reuters     18th October 2017 As part of its recent $9.1-billion investment in Russian oil giant Rosneft, little-known CEFC China Energy will have access to up to 260 000 bbl/d of Russian oil - giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol. For China, the world's top crude... 

China factories grapple with soaring prices as pollution crackdown bites

By: Reuters     17th October 2017 Chinese exporters at the country's biggest trade fair are more optimistic about global demand now than six months ago but Beijing's crackdown on pollution is ramping up costs and product prices, hurting smaller factories and foreign buyers. At the Canton Fair where some 25 000 manufacturers are... 

Shanghai rebar extends rally to one-month high, lifts iron-ore

By: Reuters     16th October 2017 Chinese rebar steel futures advanced for a third straight day to hit a one-month peak on Monday, supported by output cuts in the world's top producer as part of the government's battle against smog. The gains in steel prices lifted iron-ore, although traders were not convinced the increase in... 

China steel rises as market eyes winter cuts; iron-ore, coal slide

By: Reuters     9th October 2017 Shanghai steel rebar futures jumped nearly 3% on Monday as Chinese markets reopened after a week-long holiday, with investors anticipating production cuts in the world’s top steel producer as the country fights smog. Prices of steelmaking raw materials iron-ore and coking coal fell, reflecting... 

Glencore gets what it wants with zinc market tightest in years

By: Bloomberg     5th October 2017 Two years ago, the world’s largest zinc miner needed to cut production to turn around a bloated market. Now, supply is the tightest in years and Glencore Plc wants to get bigger. Glencore curtailed zinc output at mines in Australia and Kazakhstan to solve a supply overhang and lift prices off... 

Open Mineral Exchange revolutionises commodity trading through innovative online platform 

By: Henry Lazenby     4th October 2017 A group of former traders at commodity giant Glencore has created an innovative new cloud-based mineral exchange to make it easier for producers and users to trade physical commodities – cutting out the often costly middle man. “We are reinventing the industry,” Open Mineral Exchange (OME) COO... 

TOO MANY BICYCLES IN BEIJING

     29th September 2017 Katie Melua’s ‘Nine Million Bicycles’ song may have been a smash hit globally, but bike-sharing schemes across many Chinese cities have now officially become a national menace. Across Chinese cities, sidewalks are filling up with bicycles, owing to the poor regulation of the popular sharing... 

China steel futures rise as winter cuts kick in early

By: Reuters     27th September 2017 China's iron ore and steel futures climbed on Wednesday after some cities in the north of the country announced an early start to winter restrictions on mill output, though coke and coking coal both continued to fall on worries over faltering demand. The most-traded construction steel futures... 

Iron-ore succumbs to bear market and may extend slump into $50s

By: Reuters     25th September 2017 Iron-ore has slumped back into a bear market after posting the biggest weekly loss in 16 months amid concern that record demand in China may ease off as mills enact winter output cuts just as data from the top user signals that the economy may be cooling. Losses have probably been driven by “the... 

Welding foundation industry collaboration empowers SA learners

     15th September 2017 The Southern African Institute of Welding (SAIW) Foundation aims to provide training to disadvantaged individuals in a range of areas that include welding and inspection, and the training of trainers for welding and related technologies. In addition, integrated steel and mining company... 

Rare earth metals electrified by China's illegal mining clean-up

By: Bloomberg     7th September 2017 Rare earths are booming again as a clampdown on wildcat miners in China crimps supply in the world’s biggest producer while the clean energy boom bolsters their use in everything from electric vehicles to wind turbines. Prices for “light” rare earths including neodymium and praseodymium have... 

Huge opportunity to create more demand for platinum – PGI 

By: Martin Creamer     23rd August 2017 The South African platinum industry has been investing in platinum jewellery for more than 45 years through the Platinum Guild International (PGI), which has turned platinum jewellery into an amazing South African asset. Of all the platinum demand levers, platinum in jewellery is the one that can... 

Aluminium market deficit on the cards this year; price reacts to Chinese curtailments – BofAML

     22nd August 2017 The Chinese government has so far this year ordered 4.3-million tonnes of aluminium capacity closures at smelters in Inner Mongolia, Shandong and Xinjiang, pointing to the potential for a global aluminium market deficit to emerge before year-end, the latest analysis from Bank of America Merrill... 

World copper mine output falls 3% in first five months of 2017

By: Henry Lazenby     19th August 2017 Global copper mine output was 3% lower year-on-year during the first five months of 2017, according to the latest data from the International Copper Study Group (ICSG). Concentrate production declined by around 2.5% and solvent extraction-electrowinning (SX-EW) declined by around 4.5%. 

New Development Bank to benefit Africa – Zuma

By: African News Agency      17th August 2017 President Jacob Zuma said on Thursday that the New Development Bank (NDB) was set to benefit infrastructure projects on the African continent as a whole, and having a permanent regional centre showed commitment to that undertaking. “We are therefore happy to know that the bank is working on... 

Gold trends sideways as greenback climbs on hawkish Dudley comments

By: Henry Lazenby     15th August 2017 Gold prices posted new losses on Monday and overnight as the US dollar index climbed on positive comments by Federal Open Market Committee voting member William Dudley. Dudley on Monday said it was not “unreasonable” to expect the Federal Reserve to release plans in September to start reducing... 

NUM, ANC ‘very encouraging’ – Royal Bafokeng Platinum 

By: Martin Creamer     1st August 2017 Royal Bafokeng Platinum CEO Steve Phiri said on Tuesday that he was “very encouraged” by the stance taken the day before by the National Union of Mineworkers (NUM) and the ruling African National Congress (ANC). “We can only improve the situation if we work together and not against each other,”... 

Goldman's now bullish on iron-ore this year but warns on 2018

By: Bloomberg     27th July 2017 Goldman Sachs Group boosted its iron-ore forecasts after better-than-expected demand in China raised prices, but combined the revised outlook with a warning that it remains bearish on next year on prospects for plentiful mine supplies and a worldwide glut. The three-month forecast was raised to... 

Copper rallies to two-year high, miners surge as China brightens

By: Bloomberg     26th July 2017 The red metal is red hot. Copper surged to the highest level in more than two years on the London Metal Exchange, lifting shares of producers including Glencore, driven by expectations that increasing demand in China may fuel a global shortage and buoyed by a weak dollar. Benchmark three-month... 

Shanghai Foxconn plaza project, China

By: Sheila Barradas     14th July 2017 The 50 000 m2 plaza will be the headquarters of Hong Hai Technology Group. 

Paper trail on metal loans ended in fakes as banks lose millions

By: Bloomberg     4th July 2017 For all the high-tech wizardry of modern financial markets, there’s one corner of the commodity world that still depends almost entirely on printed paper – making it an easy target for crooks. Buyers and sellers of base metals like copper, aluminum and nickel use documents known as warehouse... 

As nasty quarter ends, iron's reprieve sees futures back in $60s

By: Bloomberg     28th June 2017 After what’s been a tough quarter, iron ore’s getting a small reprieve. Futures clawed their way back above $60 a metric ton and spot prices have rebounded from a one-year low as steel output holds up in China, buoying demand for the material even as its supply rises. The SGX AsiaClear contract... 

Ncondezi secures funding while it seeks a new JV partner

By: Megan van Wyngaardt     23rd June 2017 Aim-listed coal miner Ncondezi Energy has raised an additional $582 000 from existing lenders and senior management to fund the search for a new partner and to provide working capital for the group. The miner, which is developing the Ncondezi coal mine, in Mozambique’s Tete province, is seeking a... 

The hard-to-believe steel shortage that's unfolding in China

By: Bloomberg     5th June 2017 The world’s top steelmaker may have a shortage of steel. China has a lack of rebar, according to iron-ore miner Fortescue Metals Group, which says a shortfall of the key product helps to explain a divergence between the price of the commodity it digs up with the alloy it’s made into. There’s a... 

Ncondezi calls off joint development agreement with SEP

By: Megan van Wyngaardt     26th May 2017 Mozambique-focused coal miner and energy developer Ncondezi Energy will engage with new strategic partners who have expressed an interest in helping to develop its integrated thermal coal mine and 300 MW power plant in the country’s Tete province. This comes after the company on Friday suspended... 

China’s first home-grown commercial jetliner makes maiden flight

By: Keith Campbell     19th May 2017 In what could be the most significant development in global commercial aviation since the prototype of the first Airbus airliner (the A300) made its maiden flight in late 1972, the Commercial Aircraft Corporation of China’s (Comac’s) C919 single-aisle airliner made its first flight, from Shanghai... 

Ncondezi seeks extension for loan repayment

By: Anine Kilian     10th May 2017 Aim-listed Ncondezi Energy has asked its loan holders to extend the repayment date for its shareholder loan, which became payable on Wednesday.  Ncondezi, which is developing an integrated coal power plant and mine project in northern Mozambique, has drawn down $2.19-million under the shareholder... 

Iron revival snuffed out as 'weakest commodity' drops again

By: Bloomberg     8th May 2017 Iron-ore’s attempt at a rebound lasted just a few short hours as investor concern over robust supplies, including near-record port stockpiles, and speculation some traders in China were rushing to offload holdings combined to snuff out the brief gain. In Singapore, SGX AsiaClear futures fell 2.1%... 

Surging copper stockpiles point to concerns over global demand

By: Bloomberg     5th May 2017 Another surge in copper stockpiles tracked by the world’s top base-metals bourse is reigniting concerns about demand for the material that’s often viewed by investors as a bellwether for the global economy. A 40% jump in inventories monitored by the London Metal Exchange in just three days comes... 

China’s first domestically-designed commercial airliner makes its maiden flight

By: Keith Campbell     5th May 2017 In what could be the most significant development in global commercial aviation since the prototype of the first Airbus airliner (the A300) made its maiden flight in late 1972, the Commercial Aircraft Corporation of China’s (Comac’s) C919 single-aisle airliner made its first flight, from Shanghai... 

China's economy shaping up for positive 2018, Rio Tinto says

By: Bloomberg     4th May 2017 Latest indicators on China’s economy point to continued growth through 2018, according to mining giant Rio Tinto Group, which counts the world’s No. 2 economy as its biggest customer. “Are we concerned about the Chinese economic health? The answer is no,” CEO Jean-Sebastien Jacques told... 

Gold and bullion miners tumble as French vote cuts haven demand

By: Bloomberg     24th April 2017 Gold dropped to a two-week low and bullion mining stocks sank the most in more than a year as investors favoured riskier assets on expectation that Emmanuel Macron will become France’s next president. The metal slipped as much as 1.5% and South African gold miners plunged as much as 8.7% after... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can be no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012, that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, compared with India’s 7.6%,... 

New excavator brought to Africa  

By: Victor Moolman     7th April 2017 Industrial and agriculture equipment supplier Smith Power Equipment (SPE), last month expanded its Japanese construction equipment product offering in South Africa to include Kubota’s KX080-3S excavator. 

Rio Tinto sees bumpy ride for aluminum as China poses puzzle

By: Bloomberg     5th April 2017 Rio Tinto Group’s aluminum boss sees prices for the lightweight metal heading for an “extremely” volatile period, with uncertainty over when China will curb production helping to keep investors on edge. “That’s really where the uncertainty is at the moment,” Alfredo Barrios said in an interview... 

Ncondezi progresses JDA with SEP on 300 MW Mozambique power plant project

By: Natasha Odendaal     30th March 2017 Aim-listed Ncondezi Energy is steadily progressing the joint development agreement (JDA) with Shanghai Electric Power (SEP) for its 300 MW power plant project, located near Tete, in northern Mozambique. The agreement, once effective, will see SEP inject $25.5-million to fund the balance of the... 

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