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Stratex terminates CEO employment following blocked Crusader deal

By: Mariaan Webb     7th November 2017 Aim-listed Stratex International has confirmed that Marcus Engelbrecht is no longer CEO. In an update to shareholders following the results of last week’s general meeting where shareholders passed a resolution to remove Engelbrecht from the junior miner’s board, Stratex confirmed on Monday that... 

Centamin lifts Q3 Ebitda by 57% q/q

By: Creamer Media Reporter      2nd November 2017 Egypt-focused Centamin’s earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 57% quarter-on-quarter to $103.6-million for the third quarter ended September 30. The higher Ebitda was the result of an increase in gold sales to 150 273 oz and a higher average... 

Global steel production for 9 months to Sept up 5.6% y/y

By: Anine Kilian     23rd October 2017 Global crude steel production for the first nine months of this year reached 1.27-billion tonnes – a 5.6% year-on-year increase. The World Steel Association (worldsteel) on Monday reported that Asia had produced 876.3-million tonnes of crude steel in the first nine months of this year, an... 

Product tackles inclement conditions, improves productivity

By: Nadine James     13th October 2017 One of the biggest challenges facing the mining industry with regard to its motors, gear drives and belt drives is protection from adverse weather conditions and the resulting ingress of dust and moisture, says pumps manufacturer Australian Pumps, commonly known as Aussie Pumps. “In the Pilbara,... 

Centamin maintains FY production guidance after record Q3 output

By: Anine Kilian     9th October 2017 LSE- and TSX-listed Centamin’s Sukari mine, in Egypt, produced 156 533 oz of gold in the third quarter of this year – a 26% quarter-on-quarter and a 5% year-on-year improvement and a new quarterly record. “All sections of the mine continued to perform well during the third quarter, contributing... 

Resource exports boost mining equipment

By: Marleny Arnoldi     11th August 2017 The mining industry is Australia’s prime driver of export growth, says pumps and pressure cleaners manufacturer Australian Pump Industries, commonly known as Aussie Pumps.  

Stratex swings to profit as it sells Turkey mine

By: Mariaan Webb     3rd August 2017 Aim-quoted Stratex International on Thursday reported a half-year profit after the sale of its interest in the Altıntepe gold mine, in Turkey, helped to boost its coffers. The developer posted a profit of £880 216 in the six months ended June, which compares with a loss of £1.98-million in the... 

Centamin’s Q2 profit falls 48% y/y

By: Creamer Media Reporter      3rd August 2017 LSE- and TSX-listed Centamin’s pretax profit fell by 48% year-on-year to $37.82-million in the second quarter of the year, as a result of lower gold production. Output at the company’s Sukari mine, in Egypt, fell by 11% year-on-year to 124 641 oz in the second quarter. 

Norsk Hydro rides aluminium price, divisions underperform

By: Reuters     25th July 2017 Overall profit growth at Norsk Hydro was overshadowed on Tuesday by below-forecast performances from several businesses including rolled products, knocking the aluminium producer's shares. Norsk Hydro's stock was down 3.04% at 12:01 GMT, lagging an Oslo benchmark index, and CEO Svein Richard... 

FDI key for mining growth in North Africa, Middle East

By: Anine Kilian     14th July 2017 State-owned miners will continue to drive mining output in the Middle East and North Africa (Mena), with governments slowly encouraging foreign direct investment (FDI) into the sector, however, political instability will keep investment rates relatively low compared with other regions, according... 

Centamin maintains FY output target despite 11% y/y drop in Q2 production

By: Anine Kilian     10th July 2017 LSE- and TSX-listed Centamin’s Sukari mine, in Egypt, produced 124 641 oz of gold in the second quarter of the year, an 11% decrease on the 140 306 oz produced in the second quarter of 2016. Production was, however, 14% higher than the 109 187 oz produced in the first quarter of this year. 

Resolute turns eye to Egypt

By: Esmarie Swanepoel     6th July 2017 Gold miner Resolute Mining has been awarded two large scale exploration concessions in Egypt, advancing the company’s strategy of building a portfolio of exploration and development assets in highly prospective regions. “We are pleased to have been successful in our application for these... 

India seeks to extend LNG, energy cooperation with Qatar

By: Ajoy K Das     21st June 2017 Despite Qatar being pushed into diplomatic and economic isolation by its neighbours, India is deepening economic cooperation in liquefied natural gas (LNG) and energy with new proposals and initiatives. The Indian government has proposed a fresh long-term LNG purchase agreement, while the Qatari... 

Gold makes run toward $1 300 as risk flares from UK to Mideast

By: Bloomberg     7th June 2017 Gold’s taking aim at $1 300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the UK election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East. Bullion for immediate... 

Earth observation satellites starting to bring benefits to mining sector

By: Keith Campbell     2nd June 2017 At last month’s International Symposium on Remote Sensing of the Environment, held at the Council for Scientific and Industrial Research (CSIR), in Pretoria, one of the very many topics addressed was the use of remote sensing, particularly from earth observation (EO) satellites, to support the... 

Earth observation satellites starting to bring benefits to mining sector

By: Keith Campbell     2nd June 2017 At last month’s International Symposium on Remote Sensing of the Environment, held at the Council for Scientific and Industrial Research (CSIR) in Pretoria, one of the very many topics addressed was the use of remote sensing, particularly from Earth observation (EO) satellites, to support the... 

Africa’s overreliance on extractive industries hampering sustainable development

By: Ilan Solomons     2nd June 2017 Economic history has shown that without diversification into manufacturing and services and away from simple resource extraction, the long term development prospects of countries are always bleak. The need for economic diversification in the Africa is high, more so given that the growth cycle is... 

Carlyle's $700m Africa fund is eyeing two deals in Egypt

By: Bloomberg     1st June 2017 Carlyle Group, one of the world’s largest private equity firms, sees two buying opportunities in Egypt this year after a commodity rout depressed prices in the region. The Washington, DC-based investor’s $700-million Sub-Saharan Africa Fund will spend between $30-million and $100-million on each,... 

Stratex commits further funding to TSR venture

By: Megan van Wyngaardt     19th May 2017 Gold focused exploration and development company Stratex International on Friday agreed to continue funding exploration planned by joint venture (JV) company Thani Stratex Resources (TSR) at its Anbat gold prospect, in Egypt. In 2014, Stratex and Thani Emirates Resource combined their assets in... 

Lower output hits Centamin’s Q1 earnings

By: Natasha Odendaal     3rd May 2017 Lower gold production rates and a decrease in gold sales have impacted the first-quarter earnings of dual-listed Centamin. The company on Wednesday reported that basic earnings per share (EPS) after profit share decreased by 63% quarter-on-quarter and 67% year-on-year to $0.0116, while EPS before... 

Centamin reports lower Q1 output in line with guidance

By: Natasha Odendaal     10th April 2017 London- and Toronto-listed Centamin on Monday reported a 20% quarter-on-quarter and 13% year-on-year decline in total gold production from its Sukari gold mine, in Egypt, for the first quarter of 2017. In line with Centamin's forecast, preliminary total gold production for the three months to... 

BMI forecasts change in commodity demand up to 2050

By: Anine Kilian     7th April 2017 Structural macroeconomic and industry shifts will contribute to changing demand patterns for various commodities over the coming decades, says research firm BMI. “We believe demand for commodities such as coal, iron-ore, steel and fertilisers will slow over the years to 2050, while demand for... 

Stakeholder engagement key to African development success

By: Henry Lazenby     7th March 2017 Capital for development ebbs and flows with global economic cycles, pushing to the fore the need for long-term regulatory security when it comes to multinational miners developing projects in Africa, said Ashanti Gold CEO and director Tim McCutcheon during a panel discussion on Africa’s mining... 

Coal punted as 'possible solution' to Egypt's power challenges

By: Ilan Solomons     3rd March 2017 With Egypt’s energy consumption increasing at about 7% a year, along with its low crude oil and gas production rates, coal-fired power generation is increasingly being touted as a possible solution to the country’s electricity challenges, says Egyptian commodities trader Protrade MD Afifi Afifi.... 

Centamin to focus on growth projects amid good free cash flow, higher FY earnings

By: Megan van Wyngaardt     1st February 2017 Gold producer Centamin on Wednesday reported a 357% increase in its pre-tax profit to $266.8-million for the year ended December 31. This translated into earnings a share increasing from $0.04 in 2015, to $0.23 in the period under review. 

Egypt risks no interest in gold tender as Centamin won’t bid

By: Bloomberg     23rd January 2017 Egypt is at risk of getting no participation in its first exploration tender in gold since 2009 after Centamin, which operates the nation’s only active gold mine, Sukari, and two other companies in the country said they won’t bid. Terms being offered “result in an effective tax rate that is by... 

Crippled Zimbabwe the leading African lithium producer

By: Kimberley Smuts     20th January 2017 Zimbabwe, a country which is facing a food security disaster, high levels of unemployment, skilled and semiskilled emigration and a cash-starved economy, having issued its own bond notes in November to solve its liquidity crisis, is leading Africa in lithium production. Bikita, a district in... 

Investors still confident of return on investment in Africa

By: Kimberley Smuts     20th January 2017 The level of investment activity in Africa is still good, but there are high risks involved, says legal firm Hogan Lovells. Despite these risks, various investors remain confident in the return on investment that Africa can offer and are subsequently taking greater risks, but Hogan Lovells... 

New laboratories opened based on demand

By: Kimberley Smuts     20th January 2017 Oil and fuel analysis expert WearCheck has shown considerable growth in Africa in 2016 establishing three new laboratories around the continent’s mining hotspots, a move largely driven by demand from mining operations looking to cut operational costs. As a result of this expansion, the company... 

Egypt’s revival in gold mining to boost exports, generate foreign reserves

By: Megan van Wyngaardt     13th January 2017 London-based research firm BMI Research has earmarked Egypt as a mining country to watch, given that its gold mining sector is expected to record strong growth of about 6% a year between 2017 and 2021. The firm noted that the country, which could see output of 740 000 oz/y by 2021, was inviting... 

Centamin exceeds gold output guidance for 2016

By: Megan van Wyngaardt     9th January 2017 Despite an 8% quarter-on-quarter decrease in gold production to 136 787 oz for the three months ended December 31, Aim-listed Centamin still exceeded its production guidance for the full year, producing 551 036 oz. Forecast production for 2017 from the Sukari gold mine, in Egypt, still stands at... 

Centamin’s Sukari lifts Q3 output by 6% q/q, 41% y/y

By: Anine Kilian     31st October 2016 Gold miner Centamin’s flagship Sukari mine, in Egypt, produced 148 674 oz of gold in the third quarter of the year, a 6% increase on that produced in the second quarter. Output was also 41% higher year-on-year. Production cash costs for the quarter were $466/oz and all-in sustaining costs (AISC)... 

Centamin’s Sukari lifts output 6% q/q in September quarter

By: Ilan Solomons     5th October 2016 Gold miner Centamin’s Sukari mine, in Egypt, produced 148 674 oz of gold in the quarter ended September 30, representing a 6% quarter-on-quarter and a 41% year-on-year increase. CEO Andrew Pardey on Wednesday said the company had delivered another “solid quarter” from the Sukari operation,... 

Brown: Unless economy in hands of majority, it's going nowhere

By: News24Wire      28th September 2016 The economy must be controlled by the black majority, said Public Enterprises Minister Lynne Brown. Brown spoke to media briefly following a closed meeting with the Black Business Council (BBC) in Sandton on Tuesday. 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Verder SA launches next generation peristaltic pump

     26th August 2016 Netherlands-based pump manufacturing group Verder will use Electra Mining Africa as the platform for the Southern Africa launch of its new Verderflex Vantage 5000 peristaltic tube pump. 

Chemvulc

     26th August 2016 Established in 1977, Chemvulc manufactures and distributes a range of industrial rubber products for mining and industrial applications, as well as tyre repair products, tyre accessories and equipment for tyres, specialising in off-the-road tyres (OTR) and retreading. Chemvulc’s industrial rubber... 

Perth mining event reflects flat investment environment

By: Sebastian Whyle     5th August 2016 The decrease in size and scope of mining investment events, such as Australia’s annual Africa Down Under, is a reflection of the state of the global mining economy and the lack of funding available for the development of projects, South African State-owned minerals processing and metallurgical... 

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