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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... 

Operational due diligence important to mitigating risk

By: Anine Kilian     21st May 2018 Investing in operational risk management is key to mitigating corporate fraud, poor governance and simple errors which result in losses for companies and consequently investors, Mercer Sentinel Africa Middle East, India and Turkey head Nigel Morriss said on Monday. Addressing media at a briefing... 

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... 

UK airline to launch direct Durban–London air link

By: Rebecca Campbell     18th May 2018 The Dube TradePort Special Economic Zone has announced that the UK’s flag carrier airline, British Airways (BA), is to introduce a direct route between London’s Heathrow Airport and Durban’s King Shaka International Airport. The new service will commence on October 29. (King Shaka is located... 

World investors look to Zimbabwe

10th May 2018 Infrastructure stakeholders from around the world are showing keen interest in Zimbabwe as a new spirit of optimism takes root in the country. 

DST committed to making inroads despite tight budget

By: Kim Cloete     9th May 2018 The Department of Science and Technology will be working on a tight budget of R7.8-billion this year, but hopes to make inroads in programmes and innovations across South Africa. The money will be used to address transformation, through key research, development and support initiatives.  

Iran's gold demand set for spurt before Trump sanctions bite

By: Bloomberg     9th May 2018 Iran’s gold demand will probably be “strong” for the next few months and then gradually decline as US sanctions start to take effect, according to the researcher who covers the country for Metals Focus Ltd. After a previous set of sanctions was imposed on Iran in 2012, it took two years for the... 

Direct Durban-London air link to be launched by UK carrier

By: Rebecca Campbell     8th May 2018 The Dube TradePort Special Economic Zone announced on Tuesday that the UK’s flag carrier airline, British Airways (BA), is to introduce a direct route between London’s Heathrow Airport and Durban’s King Shaka International Airport. The new service will commence on October 29. (King Shaka is... 

Gold demand slows as investors grapple with unpredictable macroeconomic factors

By: Nadine James     3rd May 2018 Lacklustre investor performance, stemming from investors’ decision to embrace a “wait and see” approach in light of geopolitical uncertainty muddying growth and market outlooks, has contributed to soft first-quarter gold demand, the World Gold Council (WGC) reports. The WGC’s ‘Demand Trends’... 

Centerra pulls trigger on Öksüt construction; Q1 headline earnings fall 76% on lower sales

By: Henry Lazenby     3rd May 2018 Canadian gold producer Centerra Gold has started construction of the Öksüt gold project, in Turkey. The Toronto-headquartered miner received the last outstanding pastureland permit in January, paving the way for the project’s future development. Centerra has ramped up expenditures at the site,... 

Alamos earnings rise as Island Gold outperforms

By: Henry Lazenby     2nd May 2018 Miner Alamos Gold has swung back into the black for the first quarter, mainly as a result of a better-than-expected performance from the recently acquired Island Gold mine, in Ontario. For the three months ended March 31, the Toronto-based company produced 129 000 oz of gold, as Island Gold put... 

Alacer ups gold output in March quarter

By: Esmarie Swanepoel     2nd May 2018 Dual listed gold miner Alacer Gold has reported a 15% increase in gold production during the three months to March, compared with the previous corresponding period. The Çöpler mine, in Turkey, produced 37 875 oz of gold during the March quarter, compared with the 32 918 oz produced in the... 

Global crude steel production up 4% y/y in March

By: Marleny Arnoldi     25th April 2018 World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.33-million tonnes in March – a 4% increase compared with production for March 2017.  

VARTA® from Johnson Controls now distributed by Auto X, the leading automotive battery manufacturer and distributor in South Africa

23rd April 2018 With its innovative technology VARTA® is at the forefront to move automotive aftermarket battery business to the next level. Driven by OEM requirements translated to sustainable aftermarket needs. Johnson Controls and Auto X today announce the distribution of VARTA® automotive batteries by Auto X... 

Q1 production on par with FY expectation for Ariana’s Turkish gold mine

By: Marleny Arnoldi     16th April 2018 The Kiziltepe joint venture (JV) mine, in which Aim-listed Ariana Resources holds 50%, lifted its first-quarter production by 8% quarter-on-quarter to 4 866 oz, augmented by an increase in gold recovery from the processing plant.  

Tavsan feasibility study to start following resource classification

By: Creamer Media Reporter      9th April 2018 The resource classification of the Tavsan project, in Turkey, has been materially improved, with 71% of the resource now classified as measured and indicated, 50% owner Ariana Resources reported on Monday. The Tavsan project, which is part of the Red Rabbit joint venture (JV) with Turkish firm... 

Moody’s downgrades Eldorado credit rating

By: Henry Lazenby     6th April 2018 Moody's Investors Service has downgraded Canadian miner Eldorado Gold’s corporate family credit to B2 from B1, citing high geopolitical risks, limited mine diversity, and execution risks related to its material development projects. "The downgrade of Eldorado's rating reflects the high execution... 

Continued growth for tool manufacturer

6th April 2018 This year, tool and equipment manufacturer the Hilti Group intends to maintain its growth momentum following last year’s growth of CHF 5.1-billion throughout all of its business regions. The company explains that year-on-year the company’s sales are up by 10.8%, and 9.6% in local currencies. 

Koza Altin, GreenOre to expand drilling for gold in Scotland

By: Reuters     5th April 2018 Koza, whose founder had to abandon his Turkish gold assets, is expanding his operations in Britain with a $1-million programme to drill for gold in Ayrshire, Scotland, together with a venture partner, the company said on Thursday. Founder Akin Ipek built a multi-billion-dollar fortune in Turkey... 

Eldorado Gold updated Greek mine plan reduces 'footprint'

By: Reuters     30th March 2018 Canada's Eldorado Gold filed a new technical report for its contentious Skouries gold mine project, in Greece, on Thursday, which said it "significantly" reduces the development's environmental footprint. The miner, which also filed updated reports for projects in Turkey and Canada, took a tough... 

Ford more than doubles engine assembly capacity at PE plant

By: Irma Venter     27th March 2018 Ford Motor Company of Southern Africa (FMCSA) is expanding its Struandale engine plant, in Port Elizabeth, as part of a R3-billion investment in its South African operations, announced late last year. The Struandale plant currently machines cylinder heads, cylinder blocks and crankshafts for the... 

Sudan, Qatar to sign $4bn deal to manage Red Sea port – Ministry

By: Reuters     27th March 2018 Sudan and Qatar will sign a $4-billion agreement to jointly develop the Red Sea port of Suakin off Sudan's coast, Sudanese media quoted Transport Minister Makawi Mohamed Awad as saying. Awad made the announcement during a visit by Qatari officials to Suakin on Sunday, the reports said. 

Global crude steel production increases 3.5% y/y in February

By: Simone Liedtke     26th March 2018 Global crude steel production increased by 3.5% year-on-year to 131.8-million tonnes in February, the World Steel Association (worldsteel) reported on Monday. Africa’s crude steel production increased by 4% year-on-year to 1.1-million tonnes, mainly as a result of a 7.6% year-on-year increase in... 

Eldorado falls to new 52-week low as Q4 results, technical studies fail to impress

By: Henry Lazenby     23rd March 2018 Canadian gold producer Eldorado Gold has slipped to a fresh 52-week low on both the TSX and NYSE on Thursday after it reported disappointing fourth-quarter financial results and a 10% fall in overall gold reserves. Vancouver-based Eldorado reported a net loss of $20.7-million, or $0.03 a share,... 

Signs of industry recovery at bauma CONEXPO AFRICA amidst regional economic challenges

By: Creamer Media Reporter      21st March 2018 The premier trade fair for construction machinery, building material machines, mining machines and construction vehicles in Africa has firmly established itself in the market following its third edition. 454 exhibitors from 34 countries and 14,167 visitors attended the international trade fair,... 

Metair aims to almost double gigawatt hours capacity in the next three years

By: Irma Venter     15th March 2018 Energy storage and automotive component manufacturer Metair is gearing up to become a multiple-site giga factory, in an effort to reap the benefits from the rapid increase in battery use in the automotive, telecoms, utility, mining, retail and materials-handling sectors. “We have made good... 

Cemteq Established To Supply Smart, Sustainable Building Materials

15th March 2018 Wadeville-based Sun Silicates has established a sister company, CemteQ Building Solutions (Pty) Ltd, that specialises in developing and marketing unique, value-adding products for the building and construction industries. Initially CemteQ will focus on using high quality Perlite produced by Sun... 

Ariana forecasts higher output from Turkey mine

By: Creamer Media Reporter      12th March 2018 The Kiziltepe mine – a joint venture between London-listed Ariana Resources and Turkey’s Proccea Construction – will produce significantly more gold this year, than it did in 2017. In a 2018 production guidance, issued on Monday, Ariana stated that the Turkey-based mine would produce 20 000 oz of... 

Energy execs says tariff gambit could hit shale, LNG project costs

By: Reuters     7th March 2018 Energy executives say the Trump administration's proposed steel and aluminum tariffs could bump up the cost of big-ticket projects needed for rapidly rising US shale oil and gas output by three to 10%. Higher construction costs could slow growth in production and exports of crude and natural gas... 

Africa’s leading industry trade fair prepares to open its doors

By: Creamer Media Reporter      6th March 2018 The countdown has begun: bauma CONEXPO AFRICA opens its doors for the third time in one week. The largest trade fair for construction machinery, building material machines, mining machines and construction vehicles in Africa continues to attract international participation, highlighted by four... 

Europe's firm response to stop short of trade war with Trump

By: Reuters     2nd March 2018 The firm response Europe has pledged to planned US tariffs on steel and aluminium imports is likely to stop short of triggering the trade war that open market supporters fear. US President Donald Trump said on Thursday the United States would apply duties of 25% on imported steel and 10% on... 

Metair buys into Romanian battery packs, electric drives firm

By: Irma Venter     2nd March 2018 Energy storage and automotive component specialist Metair has acquired 35% in Primemotors (Prime), in Romania, through its wholly owned subsidiary, Rombat, in an effort to accelerate its production of lithium-ion (li-ion) batteries for the growing European market. Metair recently launched a... 

Alexander Mining forms partnership with Turkish firm

By: Creamer Media Reporter      21st February 2018 Aim-listed mining and mineral processing technology company Alexander Mining has executed a commercial and technical partnership agreement with Turkey’s Proses Mühendislik, Danışmanlık, İnşaat ve Tasarım (Proses), which may result in the use of the company’s proprietary processing technologies... 

Seifsa worried about potential impact of proposed US steel import tariff increases

By: Megan van Wyngaardt     20th February 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has warned that the difficulties facing the local steel industry would continue to worsen in the year ahead if the US Department of Commerce's recommendation for a tariff of at least 53% on all steel imports from 12... 

Metair expands lithium-ion capabilities in Romania

By: Irma Venter     19th February 2018 Energy storage and automotive component specialist Metair has acquired 35% in Primemotors (Prime), in Romania, through its wholly owned subsidiary, Rombat, in an effort to accelerate its production of lithium-ion (li-ion) batteries for the growing European market. Metair recently launched a... 

'Off to the races' for South African assets as Ramaphosa steps in

By: Bloomberg     15th February 2018 Stocks surged the most since December 2014, the rand rallied to a three-year high and bond yields fell to a level last seen more than two years ago as market favorite Cyril Ramaphosa took the helm of Africa’s most industrialized economy. “This is the Cyril bonus,” said Wayne McCurrie, the head of... 

Stratex strikes exploration deal in Turkey

By: Mariaan Webb     15th February 2018 Aim-quoted Stratex has signed an exploration agreement with a local Turkish company TET Madencilik (TET), which has committed to spend up to $1.5-million on exploration and drilling at the Hasançelebi and Doğala projects in the next two years. The projects have been noncore to Stratex’s portfolio... 

Global aeronautics body promoting networking among young researchers

By: Rebecca Campbell     9th February 2018 The International Forum for Aviation Research (IFAR) is seeking to develop international interactions between young professionals working in both technical and non-technical areas of aviation research around the world. This initiative is described as “early career networking” and is a focus area... 

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