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Tahoe suffers $18m Q4 loss as Escobal shutdown saga drags on

By: Henry Lazenby     24th February 2018 Precious metals producer Tahoe Resources has been dealt an $18-million loss for the fourth quarter ended December, as its flagship Escobal silver mine, in Guatemala, lingers on care and maintenance. The TSX- and NYSE-listed miner reported an adjusted comparative loss of $17.7-million, or $0.06 a... 

Centerra equity rises on strong Q4 earnings, revenue

By: Henry Lazenby     24th February 2018 Midtier miner Centerra Gold's TSX-listed equity gained more than 8% on Friday after reporting much stronger-than-expected earnings and revenues for the three months ended December 31. The Toronto-headquartered company reported adjusted profit, which typically excludes special items in a given... 

Stronger-than-expected iron-ore price rally not expected to last - BMI

By: Creamer Media Reporter      23rd February 2018 The strong iron-ore price rally over the last several months is not expected to last and will gradually run out of steam over the next several years as Chinese economic growth refocuses away from heavy industry to services, dampening global demand for the steel-making ingredient, Fitch... 

Century Aluminum CEO: will recall workers if Trump imposes tariffs

By: Reuters     23rd February 2018 The main US producer of high-purity aluminium used in military aircraft is poised to begin restarting idled production lines at its smelter in eastern Kentucky and recall some 350 workers if President Donald Trump imposes aluminium import curbs. Century Aluminum CEO Michael Bless told Reuters on... 

Northam Platinum to create 6 500 new jobs in growth thrust 

By: Martin Creamer     23rd February 2018 Platinum group metals (PGM) mining company Northam, which is in a strong organic and acquisitive growth phase, will be generating 6 500 new mining jobs in the next four to five years, which dovetails with President Cyril Ramaphosa's 'sunrise' aspirations expressed in his well-received State of... 

W executes major offtake agreements

By: Mariaan Webb     23rd February 2018 Tungsten, copper and gold explorer and developer W Resources has signed two major long-term offtake agreements for tungsten concentrate from its La Parrilla mine, in Spain. The Aim-listed company reported on Friday that it would supply European tungsten processing giant Wolfram Bergbau und... 

He got rich on Congo mines until bribe probe put future on hold

By: Bloomberg     23rd February 2018 A 20-year friendship that helped turn Dan Gertler into a billionaire has left the Israeli businessman with a lot fewer places to go. The US government accused Gertler of corrupt mining and oil deals in the Democratic Republic of Congo and said he acted as a middle-man to enrich his longtime... 

South Africa to pilot first utility-scale vanadium redox flow battery

By: Nadine James     23rd February 2018 Aim-listed miner Bushveld Minerals’ 84%-owned energy subsidiary, Bushveld Energy, will be commissioning its first utility-scale vanadium redox flow battery (VRFB) for testing by State-owned power utility Eskom in May, says Bushveld Energy CEO Mikhail Nikomarov. Nikomarov notes that the... 

The EV future is here and already boosting earnings for miners

By: Bloomberg     23rd February 2018 The booming electric vehicle revolution is flowing through to the bottom line of a growing list of global miners, who are reaping higher profits from rising demand for battery raw materials. Orocobre reported Friday that net income rose 11% in the December half and forecast lithium prices to... 

Rusal Q4 core earnings surge, Deripaska steps down

By: Reuters     23rd February 2018 Russian aluminium giant Rusal posted a 42% jump in fourth-quarter core earnings on Friday, helped by higher aluminium prices, and announced billionaire Oleg Deripaska would step down as president, as expected. Hong-Kong listed Rusal said fourth-quarter earnings before interest, taxation,... 

Finland takes top spot for mining-friendly investment

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Denel looks for new market in Africa

By: Donald Makhafola     23rd February 2018 State-owned aerospace and defence technology company Denel is looking to grow its export market by exploring other areas of specialisation, innovation, customisation and cyberspace. 

Zimbabwe’s Agoa eligibility up for review this year

By: Terence Creamer     23rd February 2018 The US government will consider Zimbabwe’s eligibility for the trade benefits it extends under the Africa Growth and Opportunity Act (Agoa) during 2018, the State Department’s acting director for economic and regional affairs Harry Sullivan said during a recent telephonic briefing of Africa... 

South Africa to pilot first utility-scale vanadium redox flow battery

By: Nadine James     23rd February 2018 Aim-listed miner Bushveld Minerals’ 84%-owned energy subsidiary Bushveld Energy will be commissioning its first utility-scale vanadium redox flow battery (VRFB) for testing by State-owned power utility Eskom in May, says Bushveld Energy CEO Mikhail Nikomarov. 

Newmont beats Q4 earnings forecast; output on par with largest gold producer Barrick

By: Henry Lazenby     22nd February 2018 US gold miner Newmont Mining has reported market-beating earnings for the three months ended December 31, and reported production that is on par with that of leading gold producer Barrick Gold. The Denver, Colorado-based miner reported headline earnings for the fourth quarter of $216-million, or... 

De Beers sets higher output target for 2018

By: Simone Liedtke     22nd February 2018 Global diamond miner De Beers has set a production target of as high as 36-million carats for 2018. In its 2017 results announcement the Anglo American subsidiary reported a production guidance of 34-million carats to 36-million carats, which compares with 33.45-million carats produced in 2017. 

Froneman calls for collective action towards zero harm in fatality-plagued mining business 

By: Martin Creamer     22nd February 2018 A strong call to action was made by Sibanye-Stillwater CEO Neal Froneman on Thursday for a common purpose towards zero harm in South Africa's mining industry, where rising fatality numbers are causing great concern. Froneman said a point had been reached where management on its own could not make... 

EU warns it will retaliate if hit by US trade curbs

By: Reuters     22nd February 2018 The European Commission said on Tuesday it had expressed its concern to Washington about possible measures to curb imports of steel and aluminium and warned that it was ready to react if its industry was hit. "We have made it clear to the US administration at the highest level that we would be... 

BHP won't move Singapore marketing hub even if Australia cuts tax – CEO

By: Reuters     22nd February 2018 BHP Billiton will not move its low tax-paying Singapore marketing hub even if Australia goes ahead with plans to cut corporate taxes, CE Andrew Mackenzie said on Thursday. BHP's Singapore office is the focus of a long-running fight with Australia's tax office, which argues the company is... 

MCA – Advancing the Future of Mobility: Legislative and Policy Framework

     21st February 2018 The Mobility Centre for Africa NPC (MCA) hosted it’s 3rd Future Mobility Roundtable in Cape Town on the 13th February 2018. The discussion, held at the Westin Hotel was the 3rd in a series of events bringing together government, industry and academia to collaborate in a drive to prepare South... 

SUVs push global new-car sales up by 2.4%, EV sales up 78%

By: Irma Venter     21st February 2018 The global new-car and light commercial vehicle (LCV) market grew by 2.4% in 2017, to 86.05-million units, compared with 2016, according to data released by UK automotive business intelligence group JATO Dynamics. “The automotive market performed well in 2017, with established economies... 

Gold, silver miner Hochschild eyes move into copper and zinc

By: Reuters     21st February 2018 Gold and silver miner Hochschild Mining, which has been scouting for early-stage mining projects, is interested in moving into other metals including copper and zinc, the company's chief executive said on Wednesday. Miners around the world have been looking to take advantage of demand for... 

South African radioisotope producer restarts production

By: Rebecca Campbell     21st February 2018 The South African Nuclear Energy Corporation (Necsa) announced on Wednesday that its subsidiary company, NTP Radioisotopes, had resumed production. Necsa shut down operations at NTP in late November due to non-compliance with safety protocols at the radioisotope producer, a step with which the... 

Rwanda to issue mining licences to boost investment by a fifth

By: Bloomberg     21st February 2018 Rwanda will issue 50 new licences to mine metals including gold, tin and tantalum this year that may help boost investment in the East African nation by a fifth, the Rwanda Development Board said. The state-run board expects to attract $2-billion of investment in 2018, compared with $1.67-billion... 

Canada province considers law to retaliate against 'Buy American'

By: Reuters     21st February 2018 Ontario's Liberals, the ruling party in Canada's most populous province, introduced legislation on Tuesday that would give officials authority to retaliate against US states that institute "Buy American" procurement policies. The Fairness in Procurement Act would give Ontario's government... 

World refined copper deficit widens to 195 000 t – ICSG

By: Henry Lazenby     21st February 2018 The global refined copper balance for the first eleven months of 2017 indicates a deficit of about 195 000 t, some 27% wider than at the same time a year earlier, the latest data from the Lisbon-based International Copper Study Group (ICSG) shows. The think tank attributed the widening deficit to... 

As Trump takes aim at foreign metal, Canada argues for exemption

By: Bloomberg     20th February 2018 The biggest steel and aluminium exporter to the US is hopeful of being left out of a Trump administration crackdown on foreign shipments. The US Commerce Department didn’t recommend giving Canada a pass when it outlined possible tariffs and quotas on Friday, but it did single out its northern... 

EU warns it will retaliate if hit by US trade curbs

By: Reuters     20th February 2018 The European Commission said on Tuesday it had expressed its concern to Washington about possible measures to curb imports of steel and aluminium and warned that it was ready to react if its industry was hit. "We have made it clear to the US administration at the highest level that we would be... 

Sandfire delivers 66% increase in interim net profit

By: Simone Liedtke     20th February 2018 Low-cost production and a rising copper price have driven Sandfire Resources' sales to a record and enabled the ASX-listed miner to increase its dividend and strengthen its balance sheet to fund growth opportunities. High grades and strong operating margins at DeGrussa, combined with Sandfire's... 

BHP to open data rooms for US shale fields, deals may be announced before year-end

By: Mariaan Webb     20th February 2018 Mining giant BHP will open the data rooms for its onshore US assets next month, the group said on Tuesday, as it confirmed that deals may be announced before the end of this year. Under pressure from activist investors, including Elliott Management, to get out of the shale business that it... 

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... 

Peru tenders $2bn copper project in first major auction in years

By: Reuters     20th February 2018 Peru will accept bids and award a contract to develop the estimated $2-billion Michiquillay copper mine on Tuesday in the first major auction from the world's No. 2 copper producer in at least a decade. The auction was delayed twice last year, in part due to political turmoil in Peru. The bids... 

BHP rewards shareholders, profit jumps 25% on commodity prices

By: Mariaan Webb     20th February 2018 Higher commodity prices have helped the world’s largest diversified mining group to report a 25% increase in its underlying attributable profit and to reward shareholders with higher interim dividends. Melbourne-headquartered BHP grew its underlying attributable profit from $3.24-billion in the... 

As 'America First' turns to steel, Canada looks to duck trump ax

By: Bloomberg     20th February 2018 Canada, the top steel and aluminum exporter to the US, is hopeful of being left out of a Trump administration crackdown on foreign shipments. While the US Commerce Department didn’t recommend giving its northern neighbor a pass when it outlined possible tariffs and quotas on Friday, it did... 

Local Certification Not Accepted Internationally Forces SA Hippo To Set Up Companies In Canada And USA

By: Celeste Koortsen     19th February 2018 In 1993 HAZLETON PUMPS designed, developed and manufactured the first HIPPO Flameproof Submersible Slurry pump be used underground in the South African coal mines.  These pumps had to comply with the IEC 60097-1 regulations and certified by the SABS. As a result of the success of the HIPPO... 

Russian magnate Deripaska to quit roles at his two biggest firms

By: Reuters     19th February 2018 Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls - aluminium giant Rusal and En+ Group, two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires... 

Sprinter reboots for digital efficiency as global parcel, food deliveries soar

By: Irma Venter     19th February 2018 Global parcel deliveries reached roughly 44-billion units in 2014, growing by almost 48%, to 65-billion parcels, in 2016.  This trend is far from flattening out. Various studies expect yearly growth rates of between 6% and 8% a year through to 2025. 

Japan's steel industry urges Trump to make careful trade decision

By: Reuters     19th February 2018 Japan's steel industry said on Monday the US Commerce Department proposal to President Donald Trump to impose curbs on steel imports violate the principles of free trade, calling for Washington to make a careful and appropriate decision. The US Commerce Department recommended on Friday that Trump... 

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