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Zeppelin International to utilize Workforce Optimization Solutions from Immersive Technologies

By: Creamer Media Reporter      12th August 2020 Zeppelin International, one of the largest Caterpillar® Dealers in Europe and CIS region, with the support of technology and services from Immersive Technologies, is set to provide comprehensive training for both green and experienced personnel operating a range of Caterpillar truck models within... 

Hudbay posts $51.9m quarterly loss as Peru suspension weighs

By: Mariaan Webb     12th August 2020 The eight-week suspension of operations at the Constancia mine, owing to Covid-19 measures in Peru, had a significant impact on gold and base metals miner Hudbay Minerals’ second-quarter results, with the company posting a $51.9-million, or $0.20 a share, net loss. After adjusting for the impact... 

Sasol warns of dramatic earnings collapse as it confirms R112bn impairment

By: Terence Creamer     11th August 2020 Chemicals and energy group Sasol warned of a dramatic collapse in its 2020 financial performance on Tuesday, confirming that losses for the period would represent a deterioration of more than 100% when compared with results reported for the 2019 financial year. The decline, the company told... 

Pebble CEO responds to Biden's statement on blocking Alaska mine

By: Mariaan Webb     11th August 2020 Pebble Partnership CEO Tom Collier has responded to Democratic Presidential candidate Joe Biden’s statement that he would use a study completed by the Obama-era Environmental Protection Agency (EPA) in 2014 to deny federal permits for the Alaska mine. Collier said on Monday that any action by a... 

Uncertain when Milnerton oil refinery will come back on stream ­ 

By: Martin Creamer     11th August 2020 Astron Energy’s oil refinery in Cape Town, where a fire broke out last month killing two people and injuring seven others, remains closed while a full investigation into the incident is carried out. The former Chevron 100 000 bbl/d Milnerton refinery – which with the Caltex brand now fall under... 

Ferrochrome business remains solid, world still requires large amount of it – Glasenberg 

By: Martin Creamer     11th August 2020 The ferrochrome business remains solid and there is still a large amount of ferrochrome required in the world. Unfortunately, most of the production occurs in ferrochrome plants in China, while South Africa continues exporting chrome ore and moving a large amount of it to China owing to South... 

Trevali accelerates T90 programme as its bolsters liquidity

By: Mariaan Webb     7th August 2020 Base metals miner Trevali has secured additional liquidity of up to $45-million from its long-term syndicate of lenders and its largest shareholder, Glencore. The Vancouver-headquartered company, which owns mines in Namibia, Burkina Faso, Peru and Canada, entered into a second amendment and... 

High-flying AngloGold posts colossal free cash surge as it weathers Covid disruption  

By: Martin Creamer     7th August 2020 Gold mining company AngloGold Ashanti on Friday posted a colossal surge in half-year free cash flow generation, most of it coming in the three months to June 30. Free cash flow before growth capital, the metric on which dividends are calculated, rose 376% - or nearly fivefold - to $324-million... 

Glencore holds back on dividend, accelerates net debt reduction 

By: Martin Creamer     6th August 2020 Notwithstanding its cash-generative business and secure liquidity positions, the board of Glencore has concluded that it would be inappropriate to make a distribution to shareholders in 2020, Glencore CEO Ivan Glasenberg said on Thursday. Instead the London- and Johannesburg-listed diversified... 

The importance of using the correct SEIFSA Price and Index Pages indices in your Contract Price Adjustment

6th August 2020 In order for any business to remain sustainable, it is important to keep track of price escalation trends.  Companies supplying products to buying institutions have to monitor price escalation trends in order to ensure that they are adequately compensated for any price increases and understand... 

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