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Norwegian oil giant increases foothold in SA

     Updated 2 hours ago Norwegian oil and gas company Statoil has acquired a 35% interest in exploration right 12/3/252 Transkei-Algoa, south of the Eastern Cape coastline, in South Africa, which is in line with its aim to position itself for global opportunities. This announcement followed the conclusion of a... 

Polyus delivers record production in Q3

By: Natasha Odendaal     19th October 2017 Russia’s largest gold producer Polyus has achieved another record quarter, with production rising 16% year-on-year to 642 000 oz during the three months to September 30. “The third quarter of 2017 marked yet another quarter of operational improvements and a constant drive to discover the full... 

Angola is not the next Venezuela, state oil firm says as it cuts debt

By: Reuters     19th October 2017 Angola is not the next Venezuela, the head of State oil firm Sonangol said on Wednesday while pledging to further cut debt, even if both oil-rich nations have relied heavily on loans from China. Venezuela, the Latin American oil behemoth, has found itself struggling to repay debts to China and... 

China's CEFC eyes big league with Rosneft oil offtake deal

By: Reuters     18th October 2017 As part of its recent $9.1-billion investment in Russian oil giant Rosneft, little-known CEFC China Energy will have access to up to 260 000 bbl/d of Russian oil - giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol. For China, the world's top crude... 

Petropavlovsk Q3 output up 1.6%

By: Mariaan Webb     17th October 2017 LSE-listed miner Petropavlovsk has reported a marginal increase in its gold production in the September quarter. The company, which operates the Pioneer, Pokrovskiy, Malomir and Albyn mines in Russia, produced 104 000 oz of gold in dore, compared with 102 400 oz in the third quarter of 2016. 

Polymetal hikes Q3 output by 26%, confirms FY guidance

By: Mariaan Webb     16th October 2017 Russian gold and silver producer Polymetal on Monday reported a 26% increase in its third-quarter gold-equivalent production of 470 000 oz, which is in line with its production plan of 1.4-million ounces for 2017. The third-quarter output included of 370 000 oz of gold, a 38% year-on-year... 

Russian Jan-July gold output at 157.19 t

By: Reuters     12th October 2017 Russia produced 157.19 t of gold in the first seven months of 2017, up from 145.95 t in the same period last year, the Finance Ministry said in a statement on Thursday. Production for the period included 126.39 t of mined gold compared with 117.76 t a year ago. 

Oil rises on tighter market, but doubts swirl on sustainability

By: Reuters     11th October 2017 Oil prices rose for a third day on Wednesday as Opec said the market was gradually tightening after years of oversupply, but the 2018 outlook was less certain. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $56.80 per barrel at 1129 GMT, up 19 cents. Brent... 

Bluejay increases land position in Greenland

By: Creamer Media Reporter      10th October 2017 Aim- and FSE-listed Bluejay Mining has increased its landholding in south-west Greenland, where it sees potential for mineralisation similar to that of the Norilsk-Talnakh nickel/copper sulphide mine, located in northern Russia. Bluejay increased its land package for the Disko-Nuussauq magmatic... 

Vereeniging operation offers new milling, crushing solutions  

By: Tasneem Bulbulia     6th October 2017 In line with global industrial equipment company Metsos commitment to innovation, its Vereeniging operation is offering two solutions that are new to the African crushing and milling industries. 

Russia’s 10-year gold itch sends its hoard to Putin-era peak

By: Bloomberg     3rd October 2017 Vladimir Putin is doing his part to keep the upswing in gold alive. Since the Russian President went on a geopolitical offensive in Ukraine in 2014, the haven asset had its first annual gain in four years in 2016 and is on track for another in 2017. A beneficiary of economic and political perils... 

Otkritie bank gets stake in Polymetal

By: Reuters     3rd October 2017 Russia's Otkritie bank has become a shareholder in Russian gold and silver producer Polymetal, the bank's MD Alexander Dmitriev said on Tuesday. The bank owns 7.56% in Polymetal and has no plans to sell the stake, Dmitriev added. He did not elaborate on how the bank had become a shareholder of... 

RCT’s agility and adaptability in demand

     3rd October 2017 The majority of mine sites today utilise a mixed fleet in their operations; acquiring machines that best suit their needs at different stages of the mining process. As companies look towards bringing automation and information gathering into the forefront of their operations; it is important they... 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

Gigantic SA-made ore scrubber destined for Sierra Leone mineral sands mine

By: Mia Breytenbach     29th September 2017 Mechanical process equipment and solutions provider MechProTech has completed the manufacturing of one of its largest pieces of mining process equipment – the multimillion-rand, Titan 3596 mineral ore scrubber – which will be delivered to a mineral sands mine in Sierra Leone. MechProTech focuses... 

BMI names Europe’s mining ‘outperformers’ and ‘laggards’

By: Mariaan Webb     28th September 2017 A favourable regulatory environment has placed Kazakhstan, Poland and Sweden at the top of the mining risk/reward index (RRI) of BMI Research, while a lack of dynamism has left Romania and Bulgaria at the bottom. In a research note highlighting the risks and rewards of the region, the Fitch... 

Palladium price gains may prompt re-estimation of Monchetundra reserves

By: Mariaan Webb     26th September 2017 The soaring palladium price is boding well for the Monchetundra project, on the Kola Pensinsula of Russia, and has boosted the project’s in-situ value to about $2-billion, project owner Eurasia Mining reports. The company, which is listed on London’s Aim, said on Tuesday that it was considering a... 

VW moves to secure cobalt supplies in shift to electric cars

By: Reuters     26th September 2017 Germany's Volkswagen is moving to secure long-term supplies of cobalt, a vital component of rechargeable batteries, as the group accelerates its ambitious shift to electric cars. Cobalt industry sources told Reuters that VW, the world's largest automaker, has asked producers to submit proposals... 

Gold companies take a shine to China's Silk Road

By: Reuters     25th September 2017 As far as China's miners are concerned, the modern-day Silk Road is paved with gold. Buoyed by a 15% rise in the gold price this year, Chinese mining executives in Tianjin this weekend were talking up their ambitions for overseas expansion. 

Opec says winning battle to curb oil glut

By: Reuters     22nd September 2017 Output cuts by Opec and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a meeting on Friday to review the pact that expires in March 2018. The Organization of the Petroleum Exporting Countries, Russia and several other producers... 

Giant pink diamond discovered could be Alrosa's most expensive

By: Bloomberg     22nd September 2017 Russia’s Alrosa has unearthed a pink diamond that the gem giant says could be the most expensive it has ever found. Alrosa, which produces more stones than anyone else, found the 27.85 ct pink gem at its alluvial mines in Russia’s Far East. The company said the biggest pink diamond it had... 

Platinum mining to play role in emerging sector

By: Simone Liedtke     22nd September 2017 With there being a global increase in demand for all fuel cells, with low temperature platinum bearing fuel cells seeing the largest increase in market pull, independent analysis and advisory firm 4th Energy Wave CEO Dr Kerry-Ann Adamson believes that this creates an increasing opportunity for... 

Russian nuclear giant joins scramble to supply electric-car boom

By: Bloomberg     20th September 2017 Russia’s State-owned nuclear corporation is joining the lithium rush. After a collapse in the price of uranium, Rosatom Corp. plans to start mining and trading the metal used in batteries as it seeks to profit from the rapid rise of electric vehicles. 

Ukraine's DTEK says power output, import contracts at risk if tariff not raised

By: Reuters     18th September 2017 The head of Ukraine's largest private power and coal producer, DTEK, said the company may have to halt production at one of its power plants or suspend import contracts if the government does not raise tariffs to account for expensive anthracite imports. Pro-Russian separatists seized control of... 

Submersible pump that can run dry a safer option

By: Victor Moolman     15th September 2017 The Hippo submersible pumps range from Centurion-based slurry pumping solutions provider Hazleton Pumps can operate without water for an unlimited amount of time, explains Hazleton Pumps MD Thys Wehmeyer. 

Barloworld celebrates 90-year Caterpillar milestone

By: Dylan Slater     15th September 2017 Barloworld Equipment, which is the distributor and service supplier of US earthmoving equipment manufacturer Caterpillar, celebrated a 90-year partnership with Caterpillar in South Africa at the end of last month.  

SPARKLING EXCELLENCE

By: Martin Creamer     15th September 2017 The Dynasty, above, cut from a 179 ct rough diamond discovered in Russia by State diamond company Alrosa, is a 51.38 ct traditional round brilliant-cut diamond, with 57 facets. It has the potential to be most expensive diamond ever sold in Russian history when it is auctioned online in November.... 

Rand Transmission Company South Africa

     15th September 2017 Having started operating in May 2015, Rand Transmission Company South Africa’s (RTC SA’s) mission is to be importers and suppliers of superior quality power transmission products at affordable prices. RTC SA is backed with the highest levels of service and technical support to various project... 

Campaign for more diamond ads wins support from India's gem hub

By: Bloomberg     14th September 2017 The push for bigger diamond advertising campaigns and marketing to wealthy millennials has won support from a key part of the industry: India’s manufacturers and retailers. India’s Gem & Jewellery Export Promotion Council, which represents almost 6 000 diamond companies, has agreed to contribute... 

Glasenberg emerges from Rosneft flip with oil deal and medal

By: Bloomberg     12th September 2017 Nine months after surprising the world with an $11-billion venture to buy a stake in Russia’s state oil company, Glencore is selling most of it and emerging from the deal with a valuable crude supply contract and political ties in Moscow burnished. The companies announced on Friday that the... 

Petropavlovsk H1 profit surges on revenue growth

By: Mariaan Webb     12th September 2017 Gold miner Petropavlovsk on Tuesday reported a 166% increase in profit for the half-year ended June 30, as revenue jumped 20% on higher production from its hard-rock mines and an increase in the average realised gold price. London-listed Petropavlovsk, which operates the Pioneer, Pokrovskiy,... 

PotashCorp, Agrium merger gets no-strings thumbs up from Canada’s competition bureau

By: Henry Lazenby     12th September 2017 Merging potash firms Potash Corp of Saskatchewan and Agrium Inc say they have received an unconditional approval from the Canadian Competition Bureau (CCB) for their proposed merger of equals. The transaction, billed as a “merger of equals”, which will see the creation of a new $36-billion... 

Diamonds fund Zimbabwe political oppression, Global Witness says

By: Bloomberg     11th September 2017 Zimbabwe’s government is using money earned from diamond exports to fund its Central Intelligence Organisation, blamed for a raft of human-rights abuses as it’s helped to keep President Robert Mugabe in power since 1980, Global Witness said. Diamonds dug from the Marange fields in eastern... 

Information systems in the field for 10+ years

     8th September 2017 The phrase ‘information is power’ is a widely used term. However, RCT believes its relevant information that empowers customers; which is why for the past 10 years, the company has been providing exactly that. This information journey began in 2005 when RCT saw the opportunity to expand into a... 

Russia plans gem reform to compete with India's million workers

By: Bloomberg     6th September 2017 Russia wants its biggest diamond miner to work more closely with the country’s top gem cutters so the industry can better compete in a market that’s dominated by Indian manufacturers. As part of a plan to boost the competitiveness of Russian diamonds, the government wants  Alrosa PJSC to offer... 

Polyus starts commissioning of its main greenfield project

By: Mariaan Webb     5th September 2017 Russia’s largest gold producer Polyus has officially launched the Natalka mine – the LSE-listed company’s main greenfield project. The first stage of hot commissioning of the Natalka plant, which has the capacity to process 10-million tonnes a year and is the largest in Russia, was officially... 

Jakarta bound for Mining 2017 Indonesia

     5th September 2017 RCT is joining channel partner Linindo Pacific International (LPI) in Jakarta for Mining Indonesia, from September 13 – 16. The 18th International Mining and Minerals Recovery Exhibition is Asia’s largest mining equipment exhibition; providing a professional platform for the industry to do... 

Eurasia in offtake negotiations with Glencore, Sinosteel and others

By: Mariaan Webb     4th September 2017 Precious metals miner Eurasia is in offtake negotiations with commodity trader Glencore, Chinese group Sinosteel and other unnamed parties for the life-of-mine production from its Monchetundra platinum and palladium project in Russia. In a projects update published on Monday, the company said... 

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