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Popular Articles
Exxaro plans new coal mine for exports
Fluor starts work on Sasol tar separator project
India encourages SA firms to participate in big renewables push
China rare-earth monopoly 'hiking' price of electronics
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Articles in category: Resources
Energy dept speaks out on PetroSA
Explore Engineering News (Apr 30 2013)
The Department of Energy (DoE) wishes to acknowledge that it is aware of and supports the Hawks investigation into allegations of criminal activity by certain employees of PetroSA, which is a State-owned company that reports to the DoE, through the Central Energy Fund (CEF) as the shareholder,” spokesperson for the department Thandiwe Maimane said on Monday. Within hours of learning of the matter, the Minister of Energy formally directed the Central Energy Fund (CEF) to investigate procurement undertaken during the period in question.
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BHP supply chains weather storms |
Explore supplychainnewsfeeds.com (Apr 17 2013)
Key BHP Billiton supply chains remain on track despite heavy weather, a BHP production report shows. Flood mitigation infrastructure allowed BHP's coking coal supply chain in Queensland to rapidly recover from heavy weather in March, the production report for the nine months ended March 31 shows. The report says the recently installed flood mitigation infrastructure allowed BHP’s Queensland coal supply chain to return to full capacity by the end of March. BHP reports production of almost nine million tonnes of coal for the March 2013 quarter, up 22 percent on the March 2012 quarter.
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SA faces stiff competition for mining investment
South Africa faced competition from the rest of Africa for mining investment and it had to diversify its mineral sales to avoid shocks from the global market, participants at a Pan African Research conference said on Tuesday. Pan African CEO and chief economist Iraj Abedian said there was a real risk that South Africa could be left behind as investment poured into Africa’s resources sector. "In different sectors, we are increasingly seeing South African capital, much like global capital, saying if South Africa is lagging behind, let’s use the opportunities in the rest of the continent." Countries including ...
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Exxaro aims to mine iron ore in Congo
Explore iol.co.za (Apr 10 2013)
South Africa's Exxaro expects to start mining iron ore in the Republic of Congo this year, with an eye to producing up to 10 million tonnes a year, as the miner diversifies beyond its traditional reliance on coal. Exxaro's chief executive Sipho Nkosi told the Reuters Africa Investment Summit he was optimistic it would soon get a permit to begin production at the Mayoko project. “We will get our mining convention and start mining this year,” he said. South Africa's second largest coal producer acquired the project as part of its A$313 million ($328.10 million ...
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Mentions: Reuters South Africa Johannesburg
Minerals beneficiation a key ‘pillar’ of SA’s reindustrialisation push
Explore Engineering News (Apr 4 2013)
Trade and Industry Minister Dr Rob Davies has described minerals beneficiation as the “first pillar” on which South Africa’s reindustrialisation should be built. Speaking at the launch of the fifth iteration of South Africa’s Industrial Policy Action Plan (Ipap), Davies said the aim was to ensure that more value was added to domestic mineral products ahead of export, so as to extract greater economic value and employment from the country's remaining mineral resources, estimated to be worth $2.5-trillion.
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Mentions: South Africa London Metal Exchange Department of Trade and Industry
Russia, SA to create platinum bloc
Explore iol.co.za (Mar 27 2013)
Russia and South Africa, which together control about 80 percent of the world’s reserves of platinum group metals, plan to create a trading bloc similar to OPEC to control the flow of exports. “Our goal is to coordinate our actions accordingly to expand the markets for realisation of these metals,” Russian Natural Resources Minister Sergey Donskoy said yesterday in an interview at a summit of leaders from Brazil, Russia, India and South Africa in Durban. “The price depends on the structure of the market and we will form the structure of the market.”
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Glencore unit makes African acquisition
Explore iol.co.za (Mar 26 2013)
Glencore's warehousing and logistics unit Pacorini has made its first move into Africa, breaking into a major growth region for its parent with the acquisition of South African logistics group Access Freight. A Glencore spokesman confirmed the move but declined to disclose the price tag of the deal, which has yet to be finalised. The acquisition, though small for the world's largest diversified commodities trader, points to Africa's importance to Glencore, and to the bolt-on deals that are likely to be top of the list as the acquisitive group finalises and digests the $32 billion takeover of ...
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Shanduka fires 250 illegal strikers
Explore iol.co.za (Mar 26 2013)
South African mining company Shanduka Coal said on Tuesday it had fired 250 workers who had been on a wildcat strike at its Graspan Colliery. Unlisted Shanduka, which supplies coal to power utility Eskom, said in a statement it had dismissed the workers who went on a illegal strike last week for higher bonuses. “The situation at Graspan Colliery is currently calm and returning to normal,” the company said, adding the fired workers would be able to appeal their dismissal. The labour unrest at Graspan and other coal mines had raised concerns about electricity supply in Africa's top economy.
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GNCG signs multi million contracts against procurement law
Explore spyghana.com (Mar 23 2013)
…but Board Chairman denies The Ghana National Gas Company (GNCG) is reported to have signed three multi-million dollar contract agreements from January 29 to March this year “with no evidence of the contracts being subjected to the country’s procurement laws”, the Daily Graphic has learnt. The agreements made up of a $15.6 million with AECOM Technology Corporation (AECOM), and a prospecting agreement with Gasol and its local partner African Power Generation (‘AfGen’), were said to have been sign
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Africa is on the right path with policy development
Explore iol.co.za (Mar 17 2013)
South African business is becoming more aware of the growth prospects across the rest of Africa. But what has received little attention is the policy development that supports these improvements. This support will gain momentum at the forthcoming Meeting of African Ministers of Finance, Planning and Economic Development in Abidjan from March 21 to 26. The theme is: Industrialisation for an Emerging Africa. It is now several years that Africa’s leading official organs, the UN Economic Commission for Africa, the AU Commission and the African Development Bank, have jointly sponsored proposals for economic advance. In 2012 a similar conference ...
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Mentions: Africa South Africa
Exxaro strikes spread to sixth SA coal mine
Explore iol.co.za (Mar 12 2013)
Strikes at Exxaro Resources, South Africa’s second-biggest coal producer, spread to a sixth mine, according to union officials. Output at Tshikondeni, a coal operation in the northernmost province of Limpopo, stopped yesterday, National Union of Mineworkers branch secretary Mxolisi Hoboyi said by phone today. The mine supplies hard coking coal to ArcelorMittal South Africa Ltd.’s Vanderbijlpark plant, the continent’s biggest steelmaking facility. “The strike is continuing as per yesterday’s situation at Matla, Arnot, Grootegeluk, Leeuwpan and Inyanda,” Exxaro said in a statement.
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Mentions: South Africa Johannesburg Eskom
Third Exxaro mine on strike
Explore iol.co.za (Mar 8 2013)
Unprotected strikes have halted production at three of mining company Exxaro's coal mines, the company said on Friday. “Issues relating to the strikes at Matla and Arnot are not related to those at Grootegeluk,” spokesman Hilton Atkinson said in a statement. “The strikes have led to production being stopped and the group is engaging with unions and managing the situation to bring operations to normality as soon as possible.” On Thursday, Exxaro announced unprotected strikes at two of its Mpumalanga mines, Matla and Arnot.
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Mentions: Johannesburg Mpumalanga
BHP responds to manipulation claim
Explore iol.co.za (Mar 7 2013)
“It's more the art of war than manipulation.” BHP Billiton said on Thursday it was committed to a transparent iron ore market, responding to allegations by top consumer China that major miners had manipulated the market to drive an 80 percent jump in prices over the past six months. China's national planning agency said on Wednesday the world's top three miners and some traders had delayed shipments and held back stocks “to send a fake market signal that there was a supply shortage”.
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New BHP chief flags cost, productivity
Explore iol.co.za (Feb 24 2013)
The incoming chief executive of BHP Billiton, Andrew MacKenzie, said Sunday he will maintain focus on costs and productivity when he takes the helm at the world's biggest miner in May. The Anglo-Australian giant announced on Wednesday that Marius Kloppers will step down on May 10, after almost six years in the job, as it posted a plunge in first-half net profit of 58 percent to US$4.2 billion. MacKenzie, currently chief executive of non-ferrous business at BHP, said the company was in “great shape” and already had systems in place to drive the productivity agenda but he ...
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Mentions: Australia China BHP Billiton
De Beers plans new R20bn SA mine
Explore iol.co.za (Feb 15 2013)
De Beers, a unit of Anglo American, said it is spending 20 billion rand ($2.27 billion) on a new underground diamond mine that will become the largest in South Africa. The planned investment is a rare vote of confidence in South Africa's mining sector, which was rocked last year by a wave of violent wildcat strikes. Anglo American's platinum arm, Anglo American Platinum, is seeking to mothball two of its South African mines and cut up to 14,000 jobs, in the teeth of fierce political and union resistance, as it attempts to restore its profits.
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Mentions: Reuters Brazil South Africa
State intervention in mining is global – Mboweni
Explore iol.co.za (Feb 6 2013)
Former Reserve Bank governor and current chairman of AngloGold Ashanti Tito Mboweni did well to remind the delegates to the Mining Indaba that South Africa is not the only country where the government intervenes in the mining sector. With all the noise that inevitably accompanies any government statement about the sector, one could be forgiven for thinking that in every other jurisdiction mining companies are allowed complete free rein to do as they and their shareholders please. In Argentina, where AngloGold has an operation, the company has to pay a fine for every employee who is not from the state ...
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Mentions: Australia London South Africa
BHP Billiton to spend $1bn on projects in SA
Resources group BHP Billiton remains committed to investing in South Africa, and has plans to spend close to $1bn in capex on new projects in the coming year, Xolani Mkhwanazi, chairman of BHP Billiton South Africa, said on Wednesday. At the Mining Indaba in Cape Town, miner says it is committed to investing in South Africa, with plans to expand its aluminium and manganese operations. BHP Billiton has commissioned a $500m manganese smelter in Klipspruit, south of Johannesburg.
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Mentions: South Africa BHP Billiton Johannesburg
Rio Tinto CEO faces sourcing challenge
Explore Procurement Leaders Network (Jan 31 2013)
Rio Tinto’s Sam Walsh is set to decide whether to shut the 1,400-staff Gove alumina refinery in Australia or approve a plan to lower operating costs by switching fuel sources. The refinery supplying the raw material to make aluminium has been set a 31 January deadline by Rio Tinto, which is looking to bounce back from $14bn in writedowns this month. The 1,400 staff Gove alumina refinery is expected, analysts say, to serve as a template for dealing with other struggling businesses in the firm’s portfolio, which include coal in Mozambique and other parts of the ...
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Platinum miner digs deep for R3.8 billion savings
Explore supplymanagement.com (Jan 15 2013)
Anglo American Platinum wants annual savings of R3 8 billion (£270 million) by 2015, and is cutting spend on capital projects and reducing overheads, including jobs. The company also plans to reduce capital project expenditure over the next 10 years by approximately 25 per cent, equating to R100 billion (£7 billion), to focus investment on low-cost, high-margin projects.
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Amplats may cut 14 000 jobs
Explore iol.co.za (Jan 15 2013)
Anglo American Platinum , the world's top platinum producer, said it will indefinitely close four of its shafts in South Africa's platinum belt and sell its Union mine, as part of a sweeping reorganisation of its struggling business. The company also said in a strategic review released on Tuesday the reshuffle will lead to 14,000 job cuts, which it hopes to eventually replace with a similar number of new positions.
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Mentions: Reuters South Africa
Boost for SA steel as IDC leads offer for Palabora
Industrial Development Corporation (IDC) is leading a consortium of South African and Chinese companies in a R5.3bn bid for a 74.5% stake in Palabora Mining — adding another link to the government’s plans to develop a steel value chain.
Palabora, the country’s biggest copper miner, generates the bulk of its earnings from exporting magnetite — a gradient of iron ore that is a key ingredient for Chinese steel mills.
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Mentions: Asian Africa South Africa
Majors court kingpin Eni on Mozambique gas bonanza
Explore Engineering News (Dec 11 2012)
A year after Eni announced the largest discovery in its exploration history, a giant gas find in Mozambique, rival oil companies are falling over each other to get a piece of the action. "It was clear from the start it was a major discovery that changed the ball game," a source close to the Milan-based company told Reuters. "Eni is in early talks with a few large players like Shell and Exxon, and, interestingly, a few large LNG buyers that could cover production and help speed final investment decisions," a source familiar with the matter said.
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‘Eskom supports coal miners’
Explore iol.co.za (Dec 10 2012)
A strategy is in place to enable emerging coal miners to play a bigger role in the supply of coal to Eskom, Public Enterprises Minister Malusi Gigaba said on Monday. “Eskom is in the process of developing the strategy, which would enable emerging miners to play a greater role in the supply of coal for power generation in South Africa... and take transformation in the industry to a new level,” Gigaba said in a statement.
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Mentions: South Africa Eskom
Tribunal to hear coal mining merger
Explore iol.co.za (Dec 6 2012)
The Competition Tribunal will next week hear the proposed merger between two multi-national mining firms‚ Glencore and Xstrata. Glencore currently holds a 33.65% stake in Xstrata but‚ through this transaction‚ Xstrata will become a wholly-owned subsidiary of Glencore. Glencore has world-wide activities in mining‚ smelting‚ refining‚ processing‚ marketing and trading of metals and minerals‚ energy and agricultural products.
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Mentions: Brazil European Union Japan
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