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New approach  to outsourcing New approach to outsourcing
Published: 27 Apr 18
With local and global mining companies operating under continuous pressure to consistently deliver on operational targets, save costs and sustain profitability amid an age of smart business and regulatory uncertainty, local technical services provider Ukwazi is offering a turnkey outsourced technical service solution with a proven track record. This approach is different from the body-shop model, which traditionally does not implement processes, solve problems, give access to a large group of specialists, or provide access to the latest technology. The old model (body-shop approach) merely and temporarily fills a gap, and that could be what the client requires.  What makes the turnkey outsource model different, is that it provides a sustainable service based on tested processes, tested technologies and trained and experienced personnel, says Ukwazi MD Jaco Lotheringen.
Discounts on professional fees a looming issue Discounts on professional fees a looming issue
Published: 27 Apr 18
The issue of discounting the professional fees of consulting engineers, driven by public sector and private sector clients alike, is plaguing the sustainability of the consulting engineering industry, says voluntary association Consulting Engineers South Africa (Cesa) CEO Chris Campbell. “Would people bargain with a heart surgeon when they expect them to do the best quality work?” he questions. “Consulting engineers must factor in the safety of many more people when they do design work and manage the project execution process, without even mentioning trying to minimise the mining client’s total cost of ownership in the mining investment,” he asserts.
Mandela Mining Precinct seeks to safeguard jobs, says Chamber of Mines Mandela Mining Precinct seeks to safeguard jobs, says Chamber of Mines
Published: 27 Apr 18
The Chamber of Mines (CoM) is excited about the launch of the Mandela Mining Precinct, which seeks to preserve jobs while creating new skilled positions through its support, research, industrial and sustainable development initiatives for the local mining sector, says CoM senior executive: modernisation and safety Sietse van der Woude. The Precinct, a public–private partnership (PPP), looks to enhance and modernise the industry through focused collaboration between various stakeholders including CoM members, government departments, manufacturers and researchers.
Mandela Mining Precinct to produce next gen mining equipment Mandela Mining Precinct to produce next gen mining equipment
Published: 27 Apr 18
The Mandela Mining Precinct’s primary objective is to drive research, development and innovation and the investment therein, and it is extremely important, in terms of the local industry’s sustainability, that the next generation of mining equipment is developed by indigenous South African manufacturers, says Department of Trade and Industry (DTI) director Yusuf Timol. “Conventional mining methods have resulted in resources being deeper, dilution getting higher, and the industry’s productivity and efficiencies diminishing, especially when they are compared to those of our competitors. Our research says that by the late 2020s, if we continue to use the mining methods we are currently using, gold and platinum resources will be mined out,” states Timol.
Sub-Saharan Africa GDP uptick predicted on stable  oil and metal prices Sub-Saharan Africa GDP uptick predicted on stable oil and metal prices
Published: 27 Apr 18
Sub-Saharan Africa’s growth is projected to reach 3.1% in 2018, and to average 3.6% in 2019/20, reports a biannual analysis of African economies conducted by the World Bank, Africa’s Pulse, which was released by the international finance organisation last week. The growth forecasts are premised on expectations that oil and metals prices will remain stable, and that governments in the region will implement reforms to address macroeconomic imbalances and boost investment.
Nevada Copper hires new CEO
Published: 26 Apr 18
Development company Nevada Copper has appointed former Barrick Gold senior executive Matthew Gili as its new president and CEO, the company announced on Wednesday. The TSX-listed company’s flagship Pumpkin Hollow project was recently re-engineered and the company expects to be in production within 15 months. The project is believed to be only fully permitted, shovel-ready copper project in North America of any scale.
Peabody shares trade lower as profit declines; board expands $1bn share buyback plan
Published: 26 Apr 18
US coal producer Peabody Energy has reported a 10% slide in first-quarter earnings, despite a 10% improvement in revenues and a board decision to expand the share buyback programme from $500-million to $1-billion, the company announced on Wednesday. The company’s NYSE-listed equity fell as much as 4.25% on Thursday morning as investors digested the lower profit of $106.6-million, or $0.83 a share, in the period ended March 31, compared with net income of $115.4-million, or $6.44, in the comparable year-earlier period.
Aluminium bears on treacherous ground as supply shocks continue
Published: 26 Apr 18
One of the few hedge funds to survive the downswing in the commodity supercycle has a lesson for traders trying to navigate whipsawing aluminium prices: go short at your peril. While supply fears faded this week after the US eased sanctions against United Co Rusal, traders should be alert to the risk that further disruptions will leave buyers short at a time when usage is booming, according to Ingrid Sternby, a senior research analyst at Blenheim Capital Management, the hedge fund founded in 1988 by famed commodities trader Willem Kooyker.
New Gold tumbles as Rainy River issues rain on Q1 earnings parade
Published: 26 Apr 18
Canadian miner New Gold has reported disappointing first-quarter earnings as lower-than-expected gold grade, gold recovery and ore throughput at Rainy River combined with higher than expected milling costs at the Ontario-based processing facility weighed on the bottom line. The Toronto-based miner said on Wednesday that for the three months ended March 31, the headline loss came in at $16.1-million, or $0.03 a share, compared with earnings of $1.2-million, or nil per share a year earlier. This was a miss when compared against average analyst forecasts calling for earnings of $0.01 a share.
Vale unsure if New Caledonia nickel operations will continue
Published: 26 Apr 18
Brazil's Vale hopes to find a partner for its struggling New Caledonia nickel mine by the end of the year but it is not clear if the world's largest nickel producer will continue nickel operations there, executives said on Thursday. A day after first quarter results showed a 36% slump in profit, executives said they were not satisfied with nickel prices.
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