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Bank of America sees gold topping $1 300 on fiscal deficit

By: Bloomberg     24th September 2018 Gold is set to surge over the next year as concerns deepen about the widening US. budget deficit and a tariff-driven trade war starts to damage the country’s economy, according to Bank of America Merrill Lynch. Bullion could average $1 350/oz in 2019 as corporate tax reforms worsen the US... 

Goldman backs commodities as trade war fury now met with shrugs

By: Bloomberg     21st September 2018 Commodity bull Goldman Sachs Group says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in top economies remains strong, and consumers who’d put off purchases in recent months start buying again. Copper jumped. “This week... 

How Anglo quietly built a commodity trader in Glencore's shadow

By: Bloomberg     17th September 2018 Anglo American has quietly become a commodities trader. In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking... 

Ramaphosa wants smart, connected cities, says sci-tech minister

By: African News Agency      11th September 2018 Cities that are digitally connected and ready to benefit from and contribute to the Internet of Things (IoT) are a priority for President Cyril Ramaphosa and the South African government. This is according to Minister of Science and Technology Mmamoloko Kubayi-Ngubane, who made the remarks on... 

Seventy years of weld training

7th September 2018 Founded in 1948, this year, the Southern African Institute of Welding (SAIW) is 70 years old and it has been one of the great success stories in South African industry. From its fledgling beginnings, when it acted mainly as the South African welding industry’s association, it has grown into the... 

Vesconite

7th September 2018 Self-lubricated polymer bearings and bushes manufacturer VescoPlastics welcomes visitors to its stand (Hall 6 Stand C23) at Electra Mining Africa, which will be held at Nasrec, Johannesburg, from September 10 to 14. VescoPlastics caters for most bearing and wear-plate-bearing requirements of the... 

Gold's dismal run sets half-decade mark as dollar and stocks win

By: Bloomberg     31st August 2018 Gold is set for a fifth straight monthly decline, the longest losing run in half a decade, as the dollar gets a twin boost from trade tensions and the Federal Reserve’s path for higher interest rates, while inflation remains stuck in hibernation and US equities notch record after record. Bullion... 

How technology has made the world a smarter place

27th August 2018 By Mr CY Kim, Managing Director, LG Electronics South Africa Technology is embedded into every facet of modern life and with the arrival of artificial intelligence (AI), the internet of things (IoT) and the fourth industrial revolution, people sometimes worry about the implications of every... 

Gold seen fighting back in battle with dollar for haven role

By: Bloomberg     17th August 2018 Don’t write off gold in the battle of the havens. Bullion has lost out in a paradigm shift where the metal’s no longer viewed as the traditional refuge when investors are in a risk-off mood, but that won’t last, according to Rick Rule, CEO of Sprott US Holdings. 

Mozambique's ruby mining goes from ‘wild west’ to big business

By: Bloomberg     13th August 2018 Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43 000, returned to his family 900 miles away and built a house with the proceeds. Then the money ran out. 

Noble Group sues Australian coal producers for alleged breaches

By: Bloomberg     3rd August 2018 Noble Group, the commodity trader seeking to push through a restructuring after losing billions of dollars and defaulting, has filed a claim in Australia against two coal producers for alleged breaches of contractual obligations under a marketing services agreement. The Singapore-listed company,... 

Full management solution for on-board maintenance launched

3rd August 2018 Marine coatings supplier Jotun launched an innovative solution that brings simplicity, predictability and optimal quality to the process of marine on-board maintenance. Launched in June, the SeaStock Management Solution will see Jotun assuming full management of its customers’ on-board... 

Top-grade iron-ore may spike to $100/t

By: Bloomberg     16th July 2018 High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material.... 

Iron-ore slides to seven-month low as trade war fears mount

By: Bloomberg     5th July 2018 Iron-ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the US and China. Benchmark spot ore eased to $62.50/t on Thursday, the lowest since November,... 

Goldman says buy commodities as clock ticks toward trade war

By: Bloomberg     5th July 2018 Commodity bull Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the US and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy. The Wall Street... 

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Gold has miserable month as dollar seen as 'first choice' haven

By: Bloomberg     29th June 2018 Gold’s losses in June, driven by an ascendant dollar, have put it on course for the biggest monthly drop since November 2016, when markets were roiled by Donald Trump’s victory in the US Presidential election. Bullion for immediate delivery traded at $1 250.98/oz at 9:56 a.m. in London, near the... 

Gold seen fighting back as dollar rebound is poised to reverse

By: Bloomberg     27th June 2018 Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management. Bullion will climb to $1 320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1 256 on Wednesday. While trade tensions haven’t yet provided... 

Africa to get three top-notch cyber security facilities

27th June 2018 NEC XON is creating three new Cyber Defence Operations Centres (CDOC), one in Nigeria, another in Senegal, and the third in Mauritius in addition to the existing facilities in South Africa.   The new cyber security facilities form the nucleus of pan-African collaboration for sharing global threat... 

AUTONOMOUS ADVANTAGE

15th June 2018 Singapore has built a mini town designed to position it favourably in the global race to deploy driverless public transport. The 2 ha complex has intersections, traffic lights, bus stops and pedestrian crossings, all built to Singapore’s public-roads specifications. Pictured above is a Navya SAS... 

ACSA continues to work with African partners in developing airports 

By: Kim Cloete     13th June 2018 The Airports Company South Africa (ACSA) says it is working with its counterparts in Mozambique, Zambia and Ghana on the commissioning of airports. ACSA COO Fundi Sithebe says the company is assisting the Zambian government in commissioning its Kenneth Kaunda International Airport, as well as... 

Gemfields’ latest auction nets $71.8m

By: Simone Liedtke     11th June 2018 JSE-listed Pallinghurst Resources’ Gemfields subsidiary sold about 95% of its lots on offer at an auction of rough rubies held in Singapore last week. The auction yielded an all-time auction record for the company, generating $71.8-million in revenues with the rubies sold at an average realised... 

60 year anniversary of global polymer company - 8 lessons for entrepreneurs

By: Creamer Media Reporter      4th June 2018 At 87 years old, serial entrepreneur Alain Leger, who founded one of South Africa’s most successful manufacturing enterprises, is a seasoned business person celebrating the 60th anniversary of the company he founded this year. While the art of taking on financial risks in the hope of achieving... 

Gold may hit $1 400 in '19 on 'powerful fuel' of weak dollar

By: Bloomberg     4th June 2018 Gold may have posted two straight months of declines, but is set to shrug off the blues and rise in 2019 as the dollar weakens. The precious metal will start to rebound in the final quarter of this year to average $1 375 an ounce in the last three months of next year and could touch a high of $1... 

BHP reaches ‘in-principle’ agreement with Queensland over coal royalties

By: Esmarie Swanepoel     28th May 2018 Mining major BHP and the Queensland Treasury have reportedly reached an out-of-court ‘in principle’ agreement over a A$288-million coal royalty dispute. BHP’s legal representation, John Sheahnan QC, told the Queensland Supreme Court on Monday that an agreement, in principle, had been reached... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

By: Henry Lazenby     25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... 

LafargeHolcim to cut 200 jobs as Paris, Zurich offices axed

By: Reuters     25th May 2018 LafargeHolcim will close its corporate offices in Paris and Zurich, eliminating 200 jobs as part of a cost-cutting drive, the world's largest cement maker said on Friday. The Franco-Swiss company confirmed the long-mooted closure of its Paris HQ, which was reported by Reuters on Thursday. 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

By: Reuters     25th May 2018 Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

UAE trader looking to expand into gold refining in Africa

By: Reuters     15th May 2018 Privately held gold trader Sakthi Trading Group is planning to build two gold refineries in Africa and is looking for investors for the projects, company executives said on Tuesday. The group, headquartered in the United Arab Emirates, is seeking a total investment of $246-million for the... 

India's thermal coal imports rise over 15% in Q1 – trader

By: Reuters     11th May 2018 India's thermal coal imports rose by more than 15 percent in the first three months of 2018, with Indonesia accounting for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. India's rising coal imports are... 

Africa is opportune for energy, smart solutions development – Schneider Electric

By: Marleny Arnoldi     8th May 2018 Automation and energy management multinational Schneider Electric on Tuesday revealed its strategy for the African continent and how it relates to creating smart cities – taking cognisance of challenges and opportunities.  

Cement giant is the recipient of SKF’s first complete bucket elevator chain solution in South Africa

8th May 2018 Industry leader in bearing and rotating technology, SKF, provided a complete power transmission solution for a longstanding key customer, one of southern Africa’s foremost cement suppliers who had been experiencing problems with a bucket elevator over a protracted period. The additives bucket... 

Exhibition tailored for the African market

By: Melissa Zisengwe     27th April 2018 The third edition of the bauma CONEXPO AFRICA, held from March 13 to 16, 2018 was a reflection of the African market and an opportunity to showcase products and new technology suited to different construction equipment segments for the African market, says Messe München MD Stefan Rummel. The... 

Alstom-led consortium to build complete driverless light metro system for Montreal

By: Marleny Arnoldi     13th April 2018 Groupe des Partenaires pour la Mobilité des Montréalais (PMM), a consortium comprising Alstom and SNC-Lavalin, has signed a contract with infrastructure developer CDPQ Infra to deliver a complete automatic and driverless light metro system for the Réseau Express Metropolitan (REM) project in... 

Goldman Sachs says you must own commodities in these tense times

By: Bloomberg     13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

SA firm’s high-capacity air hoists making inroads into global oil and gas, marine sectors

By: Schalk Burger     13th April 2018 Industrial pneumatic equipment manufacturer ATS 2000 is reporting significant demand for its high-capacity air hoists in the international oil and gas market and for industrial and marine applications, says ATS 2000 MD Glenton Rebello. The company has manufactured four 60 t air hoists at its... 

Vanadium batteries need 'Elon Musk moment' to kick-start market

By: Bloomberg     10th April 2018 Vanadium needs Elon Musk or another big player in the global battery market to get behind the metal in order to share centre stage with other energy-storage components such as lithium and cobalt. “When we get that moment, we’re off to the races,” Vincent Algar, MD of Australian Vanadium, said in... 

Rio Tinto stands to win from Rusal sanctions, US consumers to lose

By: Reuters     9th April 2018 Rio Tinto will be among the biggest winners from the US sanctions imposed on Russian aluminium giant United Company Rusal as the penalties further shake up the global metals trade and boost costs for US consumers, industry sources said on Monday. The United States on Friday imposed the sanctions... 

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