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Shell divests of Permian assets

By: Esmarie Iannucci     21st September 2021 Oil and gas major Shell has struck a $9.5-billion agreement to sell its Permian business to ConocoPhillips, subject to regulatory approvals. Shell’s Permian business includes ownership in approximately 225 000 acres with current production of around 175 thousand barrels equivalent per day. 

BlackRock fund manager has cut almost all gold from portfolio

By: Bloomberg     17th September 2021 BlackRock fund manager Russ Koesterich has sold almost all of his gold holdings on expectations that real rates will normalise as the global economy rebounds. “Fourteen months ago, we had a fairly significant position in gold. Today, we’ve reduced it to almost zero,” Koesterich, the manager of... 

Optimism prevails despite downturn

By: Darren Parker     17th September 2021 Despite setbacks caused by Covid-19, and the riots and looting in July, tyre manufacturer and distributor Sumitomo Rubber South Africa is optimistic about the sustainability of the local tyre market. Several new products have been launched over the past few months, particularly in the Dunlop... 

Company can cater to high retrofitting demand

By: Cameron Mackay     17th September 2021 Software solutions provider ABB Electrification has experienced high demand from the local market for energy-efficient systems related to integrating automation into electrical and mechanical systems, particularly in terms of retrofitting these products into older buildings. “These... 

South Africa must go full tilt into its ready-made green hydrogen opportunity

By: Martin Creamer     17th September 2021 Sasol provides South Africa with a ready-made opportunity for green hydrogen generation and we must waste no time going full tilt into it. The Germans may have invented Fischer Tropsch (FT) technology but it is the South Africans who have perfected it. Now is the time to go with the strong global... 

Bosch products, proudly made in South Africa

17th September 2021 Bosch in Africa is integrated into the tapestry of the automotive industry in South Africa and has served the original equipment manufacturer (OEM) industry for more than 40 years. Bosch Brits, in the North West, manufactures electro-mechanical automotive components such as front wiper systems... 

Qld gets ready for first vanadium mine

By: Esmarie Iannucci     15th September 2021 The Queensland government has approved the mining license for the state’s first vanadium mine, green-lighting Multicom Resources’ A$250-million Saint Elmo project, near Julia Creek. “I congratulate Multicom as the first cab off the rank in an exciting new era for Queensland’s resources sector,... 

South Africa’s junior mining dearth result of unintended consequence – AmaranthCX  

By: Martin Creamer     14th September 2021 South Africa’s junior mining dearth is a result of savings no longer flowing through to primary capital raising and stock exchange listings, as the Jacobs Committee expected them to do. The unintended consequence is that there are no longer small investors for small companies. This has negatively... 

Petra swings to full-year net profit, mulls selling Williamson mine

By: Marleny Arnoldi     14th September 2021 After completing a capital restructuring exercise and selling a number of exceptional white and blue diamonds, London-listed Petra Diamonds has narrowed its adjusted loss before tax for the financial year ended June 30 by 88% year-on-year to $8.9-million. In the prior financial year, the... 

Rainy River’s near-term guidance reduced

By: Creamer Media Reporter      14th September 2021 Canadian miner New Gold has lowered its consolidated gold-equivalent production outlook for 2021, following a reduction in the guidance of the Rainy River mine, in Ontario, where lower-than-modelled gold grades were encountered in July and August. Rainy River’s gold-equivalent production for... 

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