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Buybacks and bumper profits on the cards as mining giants report

By: Bloomberg     18th February 2019 A surge in iron-ore prices is fueling hopes for bigger returns and a share-buyback spree as the world’s top miners prepare to report results. BHP, Rio Tinto, Glencore and Anglo American are expected to announce bumper profits over the next two weeks. So far, the biggest producers have remained... 

Africa must have clear plan for using its gas reserves

By: Marleny Arnoldi     18th February 2019 It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have... 

Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Lundin says Portugal project costs revised upward

By: Mariaan Webb     15th February 2019 Canada-headquartered Lundin Mining has announced a new cost estimate for its Neves-Corvo zinc expansion project (ZEP), in Portugal, with costs increasing to €320-million. This compares with an initial approved budget of €256.5-million for the project, which will double the mine’s production to... 

The world still doesn’t have enough places to plug in cars

By: Bloomberg     15th February 2019 Even in the biggest electric vehicle markets, a driver venturing too far from home can have a hard time finding a place to recharge. Try your luck on California’s Pacific Coast Highway. The roughly 600-mile route between San Diego and San Francisco has dramatic sea cliffs, off-the-grid retreats,... 

EM launches cost-effective smart-building retrofit system

15th February 2019 Retrofitting older building stock with ‘smart’ automation solutions is now possible with the latest Hager system introduced locally by leading supplier ElectroMechanica (EM). Known as coviva, the system does not require extensive construction work in order to be installed, or even additional... 

VW, Ford are said to discuss $4bn valuation for Argo AI

By: Bloomberg     15th February 2019 Ford Motor and Volkswagen are progressing toward a potential agreement to join forces on self-driving cars and have overcome earlier obstacles, according to people familiar with the talks. Breakthroughs in the deliberations Thursday include a possible framework for Volkswagen to work with and... 

'South Africans must take climate change seriously' – Ramaphosa

By: News24Wire      15th February 2019 It is time for South Africans to take climate change seriously, said President Cyril Ramaphosa on Thursday in his response to the debate on his State of the Nation Address. He said if South Africa is a country that prioritises the interests of the poor and the vulnerable, then we need to act with... 

Motorised pogo sticks

By: Terry Mackenzie-hoy     15th February 2019 During World War 2, it was very important that signals from the various governments involved in the war to the various armies, navies and air forces be kept secret. Signals, or messages, had to be in code or cipher to make them difficult for the opposition to read. A 'code' and a 'cipher' are not... 

Boeing reports the first flight of ‘Flying Car’

By: Rebecca Campbell     15th February 2019 US aerospace group Boeing announced on Wednesday, January 23, that its prototype autonomous urban air mobility vehicle had successfully made its maiden flight at Manassas in the US State of Virginia on the previous day. Boeing calls the aircraft a passenger air vehicle (PAV). The maiden flight... 

Renewables ensure cleaner national energy

By: Paige Müller     15th February 2019 The wide-scale adoption of renewable energy projects throughout South Africa will result in a more cost-effective and cleaner national energy supply, says renewable-energy development and management company G7 Renewable Energies. “About 20 years ago, the renewables debate was about environmental... 

Lake Charles Chemicals Project, US

By: Sheila Barradas     15th February 2019 The first derivative low-density and linear low-density polyethylene unit officially achieved beneficial operations on February 13. 

Gigafactory 3, China

By: Sheila Barradas     15th February 2019 Tesla is building its first large-scale plant outside the US.  

Atlantis Phase 3 expansion, Mexico

By: Sheila Barradas     15th February 2019 Atlantis Phase 3 will include the construction of a new subsea production system. 

North Carolina highway projects, US

By: Sheila Barradas     15th February 2019 The North Carolina Department of Transportation has awarded two contracts for the projects. 

As renewables soar, BP sees China hitting brakes on energy growth

By: Reuters     14th February 2019 Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply decelerating as its economic expansion slows. Still, China is set to remain the largest energy consumer by a long... 

Gold, operational costs drag down South Africa’s December mining production

By: Marleny Arnoldi     14th February 2019 South Africa’s mining production decreased by 1.6% year-on-year in 2018, following a 3.9% year-on-year increase in 2017 and a decrease of 3.7% year-on-year in 2016, Statistics South Africa (Stats SA) revealed on Thursday. In December, mining production decreased by 4.8% year-on-year, with the... 

Arch Coal starts work on new $390m West Virginia coking coal mine

By: Creamer Media Reporter      14th February 2019 The second largest coal miner in the US, Arch Coal, on Thursday announced that it had started work on a new three-million-ton-a-year coking coal mine that will operate on the same 200-million-ton reserve base as its Leer operation, in West Virginia. The NYSE-listed company would invest between... 

Emira’s positive dividend growth continues with on-target half-year performance

14th February 2019 Emira Property Fund today reported a 3.1% year-on-year increase in distributions for its half-year ended 31 December 2018, improving its distribution growth, delivering on its market guidance, and continuing its upward dividend growth trajectory. Its consistent set of interim results deliver on... 

More Professionals In Search Of A Better Work Life Outside Of South Africa, Global Study Reveals

14th February 2019 More young South African working professionals are willing to relocate for work compared to their contemporaries around the rest of the world, according to new research by the The Boston Consulting Group (BCG) and The Network, in association with CareerJunction. The study, which surveyed 366,000... 

Robot Kamaz is opening its computer vision eyes

14th February 2019 VIST Group (subsidiary of ZYFRA Group) mutually with Nazarbayev University and KAMAZ launched a robotized towing truck project. A fifth-wheel towing truck Kamaz Neo will be equipped with computer vision systems that will allow it to detect a range of objects like people, animals, traffic... 

Famed Cullinan mine banks on big diamonds to drive down debt

By: Reuters     14th February 2019 The owner of one of the world's most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand. Petra Diamonds bought Cullinan in 2008, aiming to breathe new life... 

Emira delivers positive dividend growth, facilitated by portfolio repositioning

By: Tasneem Bulbulia     13th February 2019 Diversified real estate investment trust (Reit) Emira Property Fund achieved a 3.1% year-on-year increase in distributions for the six months ended December 31, 2018. In addition to a positive improvement in distribution growth and having met market guidance, Emira CEO Geoff Jennett on Wednesday... 

Lower grades, higher costs contribute to lower FY18 adjusted earnings for Barrick 

By: Marleny Arnoldi     13th February 2019 Since merging with Randgold Resources six weeks ago, Barrick Gold Corporation on Wednesday said it has made progress in achieving its short-term priority goals and its full-year objectives. Barrick expects to produce between 5.1-million and 5.6-million ounces of gold and between 375-million and... 

Sasol achieves beneficial operation of first Lake Charles production unit

By: Simone Liedtke     13th February 2019 Local chemicals and energy company Sasol on Wednesday announced that its new linear low-density polyethylene unit, in Lake Charles, in the US, officially achieved beneficial operations on February 13. This is the first of the seven Lake Charles chemicals project (LCCP) production units to come on... 

Fiat Chrysler South Africa aims for recovery to 4 000 units in 2019

By: Irma Venter     12th February 2019 Fiat Chrysler Automobiles South Africa (FCA SA) aims to sell more than 4 000 Fiats, Jeeps and Alfas in South Africa in 2019. This will be a significant improvement on the roughly 2 600 units moving off showroom floors in 2018. 

Sibanye considers closing unprofitable shafts at gold mines 

By: Bloomberg     12th February 2019 Sibanye Gold is considering shutting unprofitable shafts and cutting jobs at its South African gold mines amid a three-month-old wage strike that’s curbing output. The nation’s largest gold producer has talked with some labor unions about a potential restructuring, which could lead to job cuts,... 

Accenture seeks to improve mining sector data analytics 

By: Simone Liedtke     12th February 2019 Global professional services company Accenture is investing in a new Applied Intelligence Studio for Mining, in Johannesburg, which will combine the latest in data science and artificial intelligence technologies with deep industry knowledge for the development of new intelligent digital... 

First US coal plant in years opens where no options exist

By: Bloomberg     11th February 2019 One way to boost coal in the US: Find a spot near a mine with no access to oil or natural gas pipelines, where it’s not particularly windy and it’s dark much of the year. That’s how the first coal-fired plant to open in the US since 2015 bucked the trend in an industry that’s seen scores of... 

Russia's central bank to pay less for domestic gold from May

By: Reuters     11th February 2019 Russia's central bank will pay less than an industry benchmark for gold that it buys on the domestic market, it said on Monday. The central bank said that from May 1 it would add a discount to a purchase price currently based on the daily London Bullion Market Association (LBMA) gold price. The... 

As ice melts, Greenland could become big sand exporter - study

By: Reuters     11th February 2019 Greenland could start to export sand in a rare positive spinoff from global warming that is melting the island's vast ice sheet and washing large amounts of sediment into the sea, scientists said on Monday. Mining of sand and gravel, widely used in the construction industry, could boost the... 

Metals, engineering sector set for third consecutive year of growth – Seifsa  

By: Tasneem Bulbulia     8th February 2019 The metals and engineering sector is set to grow for the third consecutive year in 2019, despite the past year having been generally challenging for both the global and domestic economies. This is according to the Steel and Engineering Industries Federation of Southern Africa (Seifsa), which... 

Cliffs upbeat about 2019 as 2018 net income hits $1.1bn

By: Mariaan Webb     8th February 2019 US iron-ore miner Cleveland-Cliffs posted net income of $1.1-billion in 2018, eclipsing the previous year’s income of $363-million, on the back of an increase in revenue. Revenue jumped to $2.3-billion, from the prior year’s $1.9-billion, while cost of goods sold and operation expenses increased... 

Sasol expects higher H1 earnings, but warns of Lake Charles cost increase

By: Nadine James     8th February 2019 Chemicals and energy company Sasol expects to report earnings per share (EPS) and headline earnings per share (HEPS) of between R23.71 and R24.16 and between R22.97 and R23.68, respectively, for the six months ended December 31. This means EPS is expected to increase by between 110% and 114%... 

Business, industry comment on positives, negatives of SoNA 2019 

By: Marleny Arnoldi     8th February 2019 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) and many other industry bodies and companies have welcomed President Cyril Ramaphosa’s State of the Nation Address (SoNA), which was delivered on Thursday evening. His war on corruption and focus on economic growth,... 

Shares in Russia's Rusal jump 12% on upbeat aluminium demand outlook

By: Reuters     8th February 2019 Russian aluminium giant Rusal expects demand for aluminium to grow in 2019 and sees potential for prices to rise, it said on Friday, sending its Hong Kong-listed shares up 12% to a 10-month high. Shares in Rusal, the world's largest aluminium producer outside China, hit their highest since April... 

Consol marks third year of production growth at Pennsylvania mines

By: Creamer Media Reporter      8th February 2019 NYSE-listed Consol Energy’s production and sales have hit a new record in 2018, marking three consecutive years of production growth at the Pennsylvania mining complex (PAMC). Sales from PAMC increased by seven-million tons in the fourth quarter, generating revenue of $49.81/t, compared with... 

Collaboration to ensure better understanding of emission standards

8th February 2019 Oils and lubricants company Shell collaborates with a number of original equipment manufacturer (OEM) transport operators to understand the future vision of emission standards set by the manufacturers and various legislation, as well as taking into consideration the challenges that transport... 

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