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Corruption scandal keeps growing for Brazilian oil giant Petrobras

By: Simon Rees     Updated 12 minutes ago Putting the ‘B’ in BRICS, the group of five major emerging national economies of Brazil, Russia, India, China and South Africa, it seemed as if Brazil was finally fulfilling its destiny to become South America’s global powerhouse in the latter half of the 2000s. As an added fillip, vast offshore... 

Corruption scandal keeps growing for Brazilian oil giant Petrobras

Brown insists Eskom is on ‘solid ground’, as 827 MW in short-term purchases are renewed

By: Terence Creamer     Updated 1 hour 20 minutes ago State-owned power utility Eskom and Public Enterprises Minister Lynne Brown confirmed on Wednesday that contracts under the so-called short-term power purchase programme (STPPP) had been renewed ahead of the March 31, 2015, expiry date. Eskom told Engineering News Online separately that the... 

Brown insists Eskom is on ‘solid ground’, as 827 MW in short-term purchases are renewed

Iron-ore extends losing streak as spot hits $49

By: Reuters     Updated 1 hour 48 minutes ago Spot iron-ore prices tumbled below $50/t on Wednesday while Chinese iron-ore futures dropped a sixth straight session to a contract low on persistent worries that output cuts at steel mills would eat into demand for the raw material. Sluggish steel consumption and soaring environmental costs have... 

Kibo kicks off next stage of Rukwa definitive feasibility study

By: Natasha Odendaal     Updated 2 hours 9 minutes ago Dual-listed Kibo Mining has started Phase 2, Stage 1 of the definitive mining feasibility study (DMFS) for its flagship Rukwa coal-to-power project (RCPP). This followed the confirmation by Minxcon Projects’ technical experts of the conclusion of the Phase 1, Stage 1 part of the process and the... 

Despite labour strife, Medupi Unit 6 to be at full power by ‘end-May’

By: Terence Creamer     Updated 2 hours 20 minutes ago State-owned power utility Eskom said on Wednesday that full power from Medupi Unit 6 should be reached by the end of May and that it was working to ensure that the completion of the remaining five units was not undermined by further technical or labour problems. The first 800 MW unit was... 

Despite labour strife, Medupi Unit 6 to be at full power by ‘end-May’

Shanta welcomes new CEO

By: Natasha Odendaal     Updated 5 hours ago London-listed Shanta Gold has appointed Dr Toby Bradbury CEO and director, following the resignation of Mike Houston in December. The 55-year-old Bradbury, who was appointed COO in January, had 30 years’ experience in corporate, strategic and operational roles. 

Stellar looking to further Tongo development

By: Megan van Wyngaardt     Updated 5 hours ago Aim-listed Stellar Diamonds has started an application process for a mining licence at its 100%-owned, 1.45-million-carat Tongo Dyke-1 kimberlite project, in eastern Sierra Leone. The company would need to invest $20-million in capital expenditure (capex) to bring the mine into production and to... 

Nayega resource rises to 14Mt – Ferrex

     Updated 6 hours ago Aim-listed manganese and iron-ore developer Ferrex on Wednesday reported that its Nayega manganese project’s resource has increased to 14-million tons at 12.4% manganese. The company said this was a significant milestone for the mine, in northern Togo, which the company was developing into a 250... 

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