Mining production globally registered its fourth consecutive contraction, falling 7.5 per cent year-on-year in February compared to a 3.3 per cent fall the previous month, Statistics South Africa said in a report. This registers as the largest fall in production since March 2016 when output fell 17.4 per cent year-on-year. Diamonds, iron ore and gold […]
Gamsberg, part of Vedanta’s Zinc International SA operations, started first-phase production in 2018 and the project is expected to act as an anchor for the company’s ambitious growth plans, adding as much as 600,000 tons of zinc to the company’s annual production in its final phase. In the stark and arid Northern Cape, 60km from Pofadder, in […]
One of the promising hotspots for oil and gas exploration drilling this year—South Africa’s offshore—has just yielded a massive natural gas and condensate find that could open a new exploration province for oil majors and change the energy fortunes of South Africa. France’s major Total said last week that it had made a significant discovery on the […]
India’s 2018 thermal coal imports rose at the fastest pace in four years, despite moves by Prime Minister Narendra Modi’s government to cut imports in a bid to reduce its trade deficit. Coal is among the top five commodities imported by India, one of the world’s largest consumers of coal, and the rise in imports […]
Global raisin production for 2018/19 is forecast to rebound 5 percent to 1.2 million metric tons (tons) as gains in Iran, the United States, and China more than offset lower output in Turkey, the U.S. Department of Agriculture (USDA) said, In response to higher supplies, world consumption is expected to rebound 3 percent to 1.2 […]
A further tightening of global platinum supply is expected, prompted by a reduction in the level of recycling in the jewellery sector, the World Platinum Investment Council (WPIC) said. It said global platinum supply is forecast to slip by 2% year-on-year to 7,910 koz with most mining regions expected to post lower refined production in […]
Saudi Arabia has pledged to chip in $10 billion in funds to South Africa’s ailing power sector, according to a South African government spokesperson cited by CNBC. The funds will be used to build refineries and to advance petrochemicals and renewable energy projects in the developing economy of South Africa. The funds can’t come soon enough […]
Traders and end users in India are seriously eyeing Colombia origin thermal coal, as a rally in prices in South Africa has made coal from there expensive. South African original coal has been rallying in price for several weeks now. Currently, sellers of South African 5,500 kcal/kg NAR coal are feeling the pressure to increase […]
A definitive anti-dumping duty in the range of 4.58% to 57.39%, of the landed value of goods has been imposed on imports of cold rolled flat products of stainless steel to give relief to domestic steel industries from China, South Korea, the European Union, South Africa, Taiwan, Thailand and the United States of America, in 2015, according to the steel ministry’s response to a […]
The price of rhodium has more than doubled this year, adding $1,000 an ounce since hitting 12-year lows mid-2016, touching $1,650 an ounce – the highest in six years. Rhodium’s main application is to clean vehicle emissions. Due to rarity, the small size of the market and concentrated supply – South Africa alone produces roughly […]