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Eldorado Gold aims for 500 000 oz next year

By: Mariaan Webb     22nd February 2019 Canada-headquartered Eldorado Gold is well positioned to grow its yearly production to more than half-a-million ounces next year, supported by the restart of mining and heap leaching at Kisladag and continuing the momentum of Lamaque. The company grew its production to 349 147 oz of gold in... 

Kenya’s retail sector diversifying amid a changing market

By: Creamer Media Reporter      21st February 2019 Kenya’s retail sector is diversifying with the entry of new players and international brands into the market. This is despite the retail sector growing at a “lethargic rate” compared to economic growth in the East African hub in 2018. The retail sector has been impacted by increases in taxes and... 

Govt, industry collaboration needed to create thriving diamond industry – Ernie Blom

By: Simone Liedtke     15th February 2019 World Federation of Diamond Bourses president Ernie Blom has called on Mineral Resources Minister Gwede Mantashe, through an open letter, to put into practice what government has said regarding the development of the South African mining industry, in general, and to help “pave the road to... 

Operations to be ramped up at edible-oil plant

By: Halima Frost     15th February 2019 Civil and structural engineering firm ADA Consulting is set to complete the upgrade of edible-oil supplier CEOCO’s Boksburg plant, in Gauteng by September. ADA Consulting MD Paul Maitre tells Engineering News that the project, although well on its way to completion, needs “an extra boost just to... 

Quantum leap as Transportation Components now supplies to OEM Henred Fruehauf

14th February 2019 Transportation Components, a recognised leader in the distribution of Original Equipment Manufacturer (OEM) components to the aftermarket, has taken the quantum leap to a whole new level, with its recent appointment as the supplier of Duroline brake linings to the well-known OEM Henred Fruehauf,... 

Maduro sold 40% of Venezuela's gold last year amid cash crunch

By: Reuters     7th February 2019 President Nicolas Maduro blew through more than 40% of Venezuela’s gold reserves last year in a desperate bid to fund government programs and pay millions to bondholders. The government sold a total of 73 t of gold to two firms in the United Arab Emirates and another in Turkey, opposition... 

Global demand for coal rises despite uncertainty

By: Kim Cloete     4th February 2019 Despite a move to renewable energy, particularly in Europe, demand for coal globally soared in 2018, led by low calorific value (CV) coal demand. The strongest import markets were China and India, while Indonesia performed extremely strongly on the supply side. China’s demand for coal... 

Eldorado opts for heap leaching at Kisladag, shelves milling project

By: Mariaan Webb     31st January 2019 Canada-based Eldorado Gold will resume mining and heap leaching at the Kisladag mine, in Turkey, putting on hold a previously announced mill project. The decision to resume mining and heap leaching follows improved heap leach recoveries and a revised heap leaching plan that was developed early... 

Alacer says production to rise sharply this year

By: Tasneem Bulbulia     22nd January 2019 Low-cost gold producer Alacer Gold is targeting higher output in 2019, following a transitional year during which the company completed the construction of a sulphide plant at its Çöpler gold mine, in Turkey. The miner on Tuesday set its production guidance for 2019 at between 320 000 oz and 380... 

Eldorado beats guidance, on track for Q1 Lamaque commercial production

By: Marleny Arnoldi     22nd January 2019 TSX- and NYSE-listed Eldorado Gold exceeded 2018 production guidance, producing 349 147 oz of gold. The target was set at between 290 000 oz and 330 000 oz. Eldorado produced 292 971 oz in 2017.  

Tripartite expo to cater for bigger PVP audience

By: Cameron Mackay     18th January 2019 The Pumps, Valves & Pipes Africa (PVP) 2019 international trade exhibition and conference is expected to welcome more than 10 500 industry professionals at this year’s event. The 2019 PVP Africa event, which will take place from June 11 to 13, in Johannesburg, at Gallagher Convention Centre, is... 

Alamos lifts FY18 output by 18% y/y

By: Tasneem Bulbulia     15th January 2019 Alamos Gold produced 505 000 oz of gold in 2018, meeting its guidance and marking an 18% year-on-year increase. “This was driven by strong performances from Mulatos [,in Mexico] and Island Gold [,in Canada], the latter setting a new record for production and continuing to demonstrate strong... 

Appointment of Chief Executive Officer

By: Creamer Media Reporter      14th January 2019 Tongaat Hulett is pleased to announce the appointment of Mr John Gavin Hudson as the Chief Executive Officer (“CEO”) and an Executive Director of the Company with effect from 1 February 2019. Mr Hudson (49 years old) is an accomplished business executive with considerable experience in diverse... 

Ariana exceeds 2018 production guidance

By: Tasneem Bulbulia     14th January 2019 Ariana Resources, which owns gold mining operations in Turkey, produced 27 110 oz of gold during 2018, exceeding its initial full year production guidance of 20 000 oz of gold by 7 110 oz and representing an increase of about 36%. This is according to the preliminary December quarter production... 

Alacer hits targets in 2018

By: Esmarie Iannucci     11th January 2019 Gold miner Alacer Gold has reached its 2018 production expectations, with the Çöpler mine, in Turkey, producing 170 865 oz of gold. The full-year production was in line with expectations of between 160 000 oz and 230 000 oz. 

EU expected to clear steel import curb after Trump tariffs

By: Reuters     9th January 2019 European Union countries are expected to next week approve a scheme to limit imports of steel into the bloc following US President Donald Trump's imposition of tariffs on steel and aluminium entering the United States. The vote on Jan. 16 would put in place an effective cap on steel imports for... 

Difficulties continue for Afarak in Q3

By: Simone Liedtke     16th November 2018 Industry seasonal effects, coupled with some internal adversities, primarily in the ferro-alloys segment, continue to make this a difficult year for specialty alloys producer Afarak. During the company’s third-quarter period, ended September 30, the benchmark price for ferrochrome fell further,... 

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... 

Global governments improve business climate through reforms  

By: Marleny Arnoldi     31st October 2018 The Word Bank Group’s ‘Doing Business 2019: Training for Reform’ report finds that governments around the world have set a new record in bureaucracy busting efforts for the domestic private sector, implementing 314 business reforms over the past year. This number of reforms this year has... 

Alacer gears up for Çöpler autoclave start-up

By: Mariaan Webb     30th October 2018 Turkey-focused, Canada-incorporated Alacer Gold has marked a “significant step change” in the third quarter, as its cornerstone organic growth initiative, the sulphide expansion project at its Çöpler mine, in Turkey, was brought on line and is now being prepared for first autoclave start up. In... 

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,... 

Eldorado approves $520m mill project in Turkey

By: Creamer Media Reporter      26th October 2018 The board of Vancouver-based miner Eldorado Gold has approved a $520-million investment in a mill project at the Kisladag mine, in Turkey, paving the way for 270 000 oz/y of production over a nine-year mine life. The 13-million-tonne-a-year mill project, which will see Kisladag transition away... 

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,... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability 

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Glencore chair Tony Hayward latest to drop out of Saudi conference

By: Reuters     17th October 2018 Glencore said its chairman Tony Hayward will no longer be attending the Future Investment Initiative conference in Saudi Arabia, confirming a report in the Financial Times. He is the latest top executive to pull out of next week's high profile conference, amid widespread concern about the fate... 

Centerra sells Mongolia mine and project for $35m

By: Mariaan Webb     15th October 2018 Canada-based Centerra Gold has sold its Mongolian business unit to private equity firm OZD Asia for $35-million, in a move that CEO Scott Perry describes as a portfolio enhancement. The company’s Mongolia assets include the Boroo mine and processing plant, as well as the Gatsuurt project. 

Nene rollercoaster takes Nomura from major rand bear to bull

By: Bloomberg     11th October 2018 Nhlanhla Nene has been dropped from South Africa’s cabinet twice in three years – and his misfortunes have been the catalyst that turned one of the biggest rand bears into one of the biggest bulls. As the currency declined this week amid speculation that Nene would resign as finance minister,... 

Latest products and technologies revealed at Electra Mining Africa

By: Creamer Media Reporter      11th October 2018 Over 850 exhibitors showcased their latest new innovations, products and services at one of the world’s biggest mining and industrial trade exhibitions. Held at the Johannesburg Expo Centre in Nasrec from 10-14 September, leading players in the mining, manufacturing, automation, electrical and... 

ASCCI initiates revitalised approach to promoting localisation

10th October 2018 Localisation is a critical tool for industrial development, and as the national co-ordinating body, Automotive Supply Chain Competitiveness Initiative (ASCCI) aims to advance its localisation agenda through activities which support successful localisation of components in the South African... 

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... 

Turkey puts import quotas on steel – WTO filing

By: Reuters     8th October 2018 Turkey will introduce quotas on the amount of steel it imports from Oct. 17, with an additional 25% duty on any imports above the quotas, it said in a filing published by the World Trade Organization on Monday, blaming a surge in imports. It said it had begun investigating the case for emergency... 

Alacer sees FY output at lower end of guidance

By: Mariaan Webb     4th October 2018 TSX- and ASX-listed Alacer expects its production to be at the lower end of its full-year guidance range of 160 000 oz to 230 000 oz, the owner of the Çöpler mine, in Turkey, reported on Thursday. In the third quarter, the mine produced 26 160 oz, taking year-to-date output to 89 233 oz. Alacer... 

Fresh blow for emerging markets as rising oil hits importers

By: Bloomberg     4th October 2018 For years, higher oil prices have stoked gains in emerging-market currencies. But now, Brent crude’s rally to a four-year high is beginning to hurt them. Crude-oil futures rose above $85 a barrel this week for the first time since 2014 as concern about shrinking Iranian exports outweighed higher... 

Breaking through digital frontiers to achieve the exceptional

3rd October 2018 We stand at the precipice of the Fourth Industrial Revolution, which promises to be the most globally impactful revolution to date. The immersion of technology into virtually every aspect of our world is resulting in the convergence of the physical (hardware), digital (applications and software)... 

ITE's emerging market hit takes shine off Mining Indaba deal

By: Reuters     3rd October 2018 Exhibition organiser ITE said it would buy Mining Indaba, the world's largest mining investment conference, from Euromoney, but added that the fall in the Russian rouble, Brazilian real and Turkish lira would hurt 2019 results. The warning took the shine off the Mining Indaba deal, which analysts... 

Ariana mulling opportunities to diversify

By: Mariaan Webb     28th September 2018 Gold and silver miner Ariana Resources on Friday reported an interim profit of £319-million, helped by record performance from its joint venture (JV) mine in Turkey, and also announced that it was evaluating opportunities to diversify. The interim profit compares with a loss of £663-million in... 

Global crude steel production rises 2.6% y/y in August

By: Simone Liedtke     25th September 2018 Global crude steel production increased by 2.6% year-on-year to 151.7-million tonnes in August, the World Steel Association (worldsteel) reports. According to the data, which was released on Tuesday, China’s crude steel production for August was 80.3-million tonnes, an increase of 2.7% compared... 

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