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Polymetal, Alrosa receive top honours in Russian environmental report

By: Megan van Wyngaardt     14th December 2017 LSE-listed Polymetal International was awarded the top rating in environmental responsibility among Russian metals and mining companies by the World Wildlife Fund (WWF). The WWF, in collaboration with the United Nations Development Programme, Global Environmental Facility, and the Russian... 

Rosneft says EU sanctions aim to favour rivals

By: Reuters     13th December 2017 Russian energy group Rosneft told the Luxembourg-based European General Court on Wednesday that European Union sanctions on Russia aimed to undermine its position on global energy markets and favoured its competitors. State-controlled Rosneft is challenging the EU sanctions, imposed in 2014 and... 

Highland board adopts dividend policy

By: Mariaan Webb     13th December 2017 The board of Aim-listed Highland Gold on Wednesday announced its dividend policy, which states that its total payout for each financial year will be 20% of net cash flow from operating activities. The board may also recommend the distribution of additional cash on the balance sheet through... 

Brazil, South Africa collaboration to improve mining sector “natural, appropriate”, says Brazil ambassador

By: Mia Breytenbach     13th December 2017 With the mining sector having played a significant role in the history and development of South Africa and Brazil, it is “natural and appropriate” that the two countries come together to discuss and exchange ideas about how to improve the mining sector in both countries, says Ambassador of Brazil... 

France-based miner AMR starts bauxite production in Guinea

By: Reuters     13th December 2017 Paris-based miner AMR began production at its Guinean bauxite mine on Tuesday, aiming to produce between 6 million and 10 million tonnes a year of the aluminium ore, the company said. Alliance Miniere Responsable (AMR) was founded by two French businessmen, and major shareholders include former... 

SA Hippo Founder Celebrates 38 Years Of Innovative Manufacturing.

     11th December 2017   Hazleton Pumps International (Pty) Ltd previously known as Electro-Mech (Pty) Ltd was registered on 23 October 1979 with electrical and mechanical contracting being the main business activities of the company. Electro-Mech further expanded the business to include borehole drilling and the... 

Russian Jan to Aug gold output at 193.58 t

By: Reuters     5th December 2017 Russia produced 193.58 t of gold in the first eight months of 2017, up from 179.73 t in the same period last year, the Finance Ministry said in a statement on Tuesday. Production for the period included 158.13 t of mined gold compared with 147.64 t a year ago. 

Russia's 51-ct diamond named for Romanovs fails to sell

By: Bloomberg     1st December 2017 The most expensive diamond ever polished in Russia, named Dynasty after the Romanov-era Imperial Court, failed to sell in an auction. Alrosa said it didn’t receive a high enough offer for the 51.4-carat gem in a November 29 online auction. The stone has the best so-called triple excellence... 

Regulatory red tape to stifle Russia’s palladium growth

By: Megan van Wyngaardt     29th November 2017 Despite rising palladium prices, the Russian government will continue to exert tight control over the quantities of palladium supply exiting the country, research firm BMI said on Wednesday. The firm warned that this would not only restrict the palladium’s growth prospects, but with the country's... 

Higher coal prices help Russia's Mechel swing to Q3 net profit

By: Reuters     28th November 2017 Russian coal and steel producer Mechel said on Tuesday higher prices for its products had helped it swing into a net profit in the third quarter after a loss a year earlier. Higher coal prices has been supporting Mechel, which borrowed heavily before Russia’s economic crisis took hold in 2014... 

Oil slips on US drilling but Opec cuts support market

By: Reuters     27th November 2017 Oil prices slipped on Monday, with US crude easing from two-year highs on prospects of higher output but losses were limited before an OPEC meeting that is expected to extend output limits. Brent crude oil LCOc1 was down 25 cents at $63.61 a barrel by 1110 GMT. US light crude was 45 cents lower... 

RUSSIAN POTASH MINING:

By: Martin Creamer     24th November 2017 A mineworker measures the concentration of harmful gases in the Usolskiy underground potash mine at Verkhnekamskoe in Russia. The mine is operated by EuroChem, which is owned by Russian commodities tycoon Andrey Melnichenko, who is spending $6-billion on the extraction of the reddish mineral that... 

Sudan's Bashir: we want to discuss nuclear power cooperation with Russia

By: Reuters     23rd November 2017 Sudanese President Omar Hassan al-Bashir told his Russian counterpart Vladimir Putin on Thursday he wanted to discuss nuclear power cooperation with Russia. Bashir was speaking before talks with Putin in the southern Russian city of Sochi on Thursday. 

Russian billionaire charged in France with money laundering

By: Bloomberg     23rd November 2017 Suleiman Kerimov, a Russian billionaire and senator, was charged with laundering gains from tax evasion in Nice and prohibited from leaving the region. Kerimov, whose family controls Russia’s biggest gold producer, Polyus PJSC, is required to surrender his passport and post €5-million bail, Nice... 

Scope of Kerimov's immunity status up to judge to decide upon, says France

By: Reuters     22nd November 2017 The scope of the immunity status accorded to Russian businessman and lawmaker Suleiman Kerimov, who has been arrested in France, is up to the French judge dealing with the matter to decide upon, said the French foreign ministry. Kerimov was arrested by French police at Nice airport on Monday... 

Metals billionaire to win whether electric cars boom or bust

By: Bloomberg     22nd November 2017 There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon this year. One is higher prices for nickel used in batteries as metals traders bet electric vehicles are the future of transportation. The other is a... 

Polyus starts two-year drilling campaign at large gold deposit

By: Creamer Media Reporter      21st November 2017 A two-year, 180 000 m drilling campaign at the Sukhoi Log deposit – Russia’s biggest greenfield gold project – has started. A three-dimensional block model, which used historical drilling results, has estimated an inferred mineral resource of 58-million ounces, grading 2 g/t. 

Russia's VTB Capital aims to double gold sales to China in 2018

By: Reuters     21st November 2017 Russia's VTB Capital, one of Russia's biggest gold traders, aims to more than double sales of the precious metal to China next year, its global commodities chief said, after import curbs forced it to cut its target for this year. The investment banking unit of Russia's No.2 lender VTB, VTB... 

Nornickel sees capex rising by 2019-2020

By: Reuters     20th November 2017 Russia's Norilsk Nickel plans to increase capital expenditure to an average of $2.3-billion to $2.5-billion a year in 2019 and 2020 from about $2-billion in 2018 due to an environmental project and infrastructure modernisation, it said on Monday. Nornickel, part-owned by Russian businessman... 

Norilsk Nickel to increase 2017 palladium purchases

By: Reuters     20th November 2017 Russia's Norilsk Nickel, the world's top palladium producer, said it plans to boost purchases of palladium for its fund from Russian central bank reserves to help ease shortages in the market. Head of Global Sales and Marketing Markus Meurer told Reuters ahead of a presentation to investors that... 

Polyus shares to be included in MSCI Russia index

     14th November 2017 Gold miner Polyus announced on Tuesday that Morgan Stanley Capital International (MSCI) would include the company’s shares into its Russia and emerging markets indices at the end of the month. Polyus CEO Pavel Grachev said that the inclusion in the MSCI Index has been a long standing objective... 

Initial reserve estimate confirms Nezhda viability – Polymetal

By: Mariaan Webb     13th November 2017 LSE-listed gold and silver miner Polymetal on Monday published an initial ore reserve estimate for the Nezhdaninskoye (Nezhda) gold deposit, in Yakutia, reaffirming the project’s economic viability. Nezhda, which is the fourth largest gold deposit in Russia, is estimated to have an openpit ore... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

South Africa crucial to global chrome supply, Chromium 2017 hears 

By: Martin Creamer     10th November 2017 South Africa is an irreplaceable supplier of chrome ore and ferrochrome, which is, in turn, an irreplaceable component of China-dominated stainless steel production, global delegates to last week’s well-attended Chromium 2017 conference heard. South Africa, as the dominant global chrome producer,... 

Australian uranium hopefuls welcome Cameco production cuts

By: Esmarie Swanepoel     10th November 2017 Australia’s uranium hopefuls have welcomed a decision from uranium major Cameco to shutter its McArthur River mining and Key Lake milling operations, in Canada. Cameco this week announced its plans to remove some 10% of the current global uranium supply, on the back of continued uranium price... 

Russian fund plans a $1bn mining venture with China Gold

By: Bloomberg     10th November 2017 Russia’s State-owned Far East Development Fund is in talks to create a $1-billion joint venture to invest in the country’s mining industry with China National Gold Group, a government controlled producer of the precious metal. "We and China Gold will create an attractive financial platform that... 

Tailored equipment advances mine safety in Africa

By: Robyn Wilkinson     10th November 2017 With a growing global health and safety culture developing, large mining companies are driving new safety standards in African mines, creating opportunities for mine safety equipment producer DEZEGA to extend the reach of its fit-for-purpose, self-contained self-rescue (SCSR) equipment on the... 

NICKEL UPTURN:

By: Martin Creamer     10th November 2017 Russian mineworkers stand in a skip that is about to descend the mine shaft at the Taymyrsky mine, operated by MMC Norilsk Nickel PJSC, in Norilsk, Russia, which competes with Vale of Brazil as the world’s top nickel producer. Norilsk Nickel, which mines the rich deposits of nickel, copper and... 

Polyus Q3 net profit falls, capex doubles on Natalka construction

By: Mariaan Webb     9th November 2017 Russia’s top gold producer, Polyus, on Thursday reported a 5% drop in third-quarter net profit to $371-million, reflecting the impact of a gain on derivatives and investments in the prior period, as well as finance costs. The company, which is listed on the LSE, said adjusted net profit... 

Gold demand falls to 8yr low in Q3

By: Natasha Odendaal     9th November 2017 Global gold demand fell to an eight-year low in the third quarter of this year, following a “softer quarter” of demand in the jewellery sector and significantly lower inflows into exchange-traded funds (ETFs), the latest data from the World Gold Council (WGC) shows. The ‘Gold Demand Trends’... 

Kinross reports 35% dip in Q3 earnings on lower sales

By: Henry Lazenby     9th November 2017 Canadian major Kinross Gold has reported a 35% dip in third-quarter profit as metal sales fell, the company advised on Wednesday. The Toronto company reported adjusted net earnings attributable to common shareholders for the three months ended September of $84.1-million, or $0.07 a share,... 

PotashCorp, Agrium 'merger of equals' gains Chinese competition consent

By: Henry Lazenby     7th November 2017 The merger of Potash Corporation of Saskatchewan and Agrium Inc has received the thumbs up from the Chinese Ministry of Commerce. Billed as a 'merger of equals', the business combination will create a new $36-billion entity, to be named Nutrien. The transaction is working its way through the... 

In the country where coal is king, a battle with the EU looms

By: Bloomberg     6th November 2017 The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market. Negotiators representing the 28-nation bloc and its member states will meet on Nov. 8... 

Turkey's gold-buying spree has market wondering how much and why

By: Bloomberg     6th November 2017 Turkey’s central bank is hoarding gold again. The question is, how much and why? Official data show Turkey added 3.8-million ounces of gold worth almost $5-billion to reserves this year. While actual purchases could be much less – the figure is skewed by metal deposited by commercial banks –... 

Ghost town of Cobalt gets first jolt from Tesla’s electric cars

By: Bloomberg     1st November 2017 Ironically, Cobalt, Ontario – population 1,100 – was built on silver. Remnants of a boom that transformed the town more than a century ago are everywhere. A mine headframe still protrudes from the roof of the bookstore, which was previously a grocery. The butcher used to toss unwanted bones down... 

Brent oil holds near two-year high as Saudi Prince backs Opec cuts

By: Bloomberg     27th October 2017 Brent oil held gains near the highest level in more than two years as Saudi Arabia’s Crown Prince Mohammed bin Salman backed the extension of Opec-led output cuts. Futures were little changed near $60 a barrel in London, up 2.6% for the week. The prince said Thursday that “of course” he wanted to... 

Openpit mine enhancing rigid dump truck performance 

By: Nica Schreuder     27th October 2017 The Tharisa openpit platinum, gold and chrome mine, in the North West, has embarked on a value-add improvement project to extend the length of oil-drain intervals on a specific fleet of rigid dump trucks (RDTs) and, subsequently, reduce downtime and save costs. The project is being led by... 

Obama administration's decision on uranium sale probed by House

By: Bloomberg     25th October 2017 US House committees are investigating why former President Barack Obama’s administration allowed a Russian-backed company to purchase American uranium mines in 2010. The House Intelligence and Oversight panels will look into the matter, Devin Nunes, a California Republican who is chairperson of... 

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