| WEEK 01 MARCH TO 05 MARCH |
South Africa is continuing to export raw chrome ore to China in higher quantities and at comparatively low prices, despite government objections, Mining Weekly Online can today reveal. |
| WEEK 22 FEBRUARY TO 26 FEBRUARY |
Acerinox posts loss for 2009 but optimistic for 2010
Spanish stainless steel maker Acerinox posted a record net loss in 2009 on falling demand and prices in the early part of the year, but said signs of recovering orders could boost results in 2010.
Net losses widened to EUR 229 million in 2009. Revenues dropped by 40% to EUR 2.99 billion.
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LONDON (Reuters) - South African-based International Ferro Metals Ltd (IFM) reported a wider loss in its first half as higher production was outweighed by lower prices for the stainless steel ingredient and stronger rand. |
IFM aims to double production capacity as demand strengthens
JOHANNESBURG (miningweekly.com) South Africa-focused International Ferro Metals (IFM) said on Tuesday that the ferrochrome market had "greatly improved" over the last three months, reflecting increased demand, not only from China, but also from the US and Europe.
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| WEEK 15 FEBRUARY TO 19 FEBRUARY |
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The South African government has set aside an additional R3,6-billion for the Department of Trade and Industry (DTI) to partly support the second version of its Industrial Policy Action Plan, or Ipap2, which will run from April 1, 2010, through to March 31, 2013, - details on the much discussed industrial-policy intervention will be unveiled by Trade and Industry Minister Dr Rob Davies on Thursday.
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JOHANNESBURG (miningweekly.com) London-listed International Ferro Metals (IFM) has entered into a R150-million agreement with Anglo Platinum subsidiary Rustenburg Platinum Mines (RPM) for the supply of chromite to feed its two furnaces in South Africa for the next decade. |
| WEEK 08 FEBRUARY TO 12 FEBRUARY |
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Stainless steel production is expected to grow this year, but not at the 10% recovery rate being suggested by the mills. There's too little demand for too much metal. |
Assmang to produce ferromanganese at Machadodorp
South African ferrochrome producer Assmang plans to convert the No 5 furnace at its Machadodorp Works to produce high-carbon ferromanganese, rather than ferrochrome, it announced on Thursday.
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| WEEK 01 FEBRUARY TO 05 FEBRUARY |
Afrox says FY earnings could fall by up to 60%
Gases and welding company African Oxygen (Afrox) expects its earnings a share and headline earnings a share for the 2009 financial year to drop by between 50% and 60% compared with earnings recorded the year before. |
JOHANNESBURG (miningweekly.com) – South African ferrochrome producer Merafe Resources on Monday reported that production for the 2009 financial year was down by 30%, compared with the previous year.
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| WEEK 25 JANUARY TO 29 FEBRUARY |
Stainless Steel production increase
Preliminary figures released today by the International Stainless Steel Forum (ISSF) show that world stainless steel production decreased by 15% in the first nine months of 2009 when compared to the same period of 2008. However, production figures for the third quarter show an increase of 12.5% when compared to the same quarter in 2008 |
| WEEK 18 JANUARY TO 22 JANUARY |
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FERROCHROME producer International Ferro Metals yesterday reported an 85% jump in output for the quarter to December compared with the year-earlier period, after it restored production at its second furnace in August on an improved outlook for demand and prices. |
Big electricity hikes will be ‘materially damaging’ to SA mines
In the absence of the finalisation of the country’s Integrated Resource Plan (IRP), power utility Eskom’s proposed tariff increases could have material implications for the structure of South Africa’s electricity supply industry (ESI), as well as for the industrialisation of the economy in the next few decades, the Chamber of Mines (CoM) told the National Energy Regulator of South Africa (Nersa) on Friday. |
Intl Ferro Metals Q2 output up 85%, upbeat on market
South African-based International Ferro Metals Ltd gave an upbeat view of prices and Chinese demand after posting an 85 percent jump in second-quarter output due to the restart of a furnace. |
| WEEK 11 JANUARY TO 15 JANUARY |
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The fallout from the financial crisis that afflicted the world economy has seen nickel prices fluctuate wildly. LME prices peaked at just over US$52,000/t in May 2007, on the back of strong demand and low stocks, but had fallen by over 80% by the end of 2008, as demand collapsed. By the fourth quarter of 2009, however, prices had recovered to US$18,500/t
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| WEEK 01 JANUARY TO 08 JANUARY |
World stainless steel output up 12,5% in Q3
World stainless steel production started to show a recovery in the third quarter of 2009, with most regions increasing their output in the three-month period, the International Stainless Steel Forum (ISSF) reported. |
| WEEK 28 DECEMBER TO 01 JANUARY |
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Stainless steel demand is forecast to grow by 5.5% a year by 2020. As expected, lower levels of around Rs20900/Mt, have enticed buyers in to the counter leading it to gain appreciably last month. |
South African chrome price for Q1 shipments to NSSC settled
TEX reported that the benchmark price of South African charge chrome to be purchased by Nippon Steel Sumikin Stainless Steel for shipments in the first quarter of 2010 has been settled by a reduction of 2 US cents per pound of Cr. |
Nickel all set to gain in 2010
Most of the base metal prices will be depended on Chinese demand in 2010 and Nickel is no exception. |
| WEEK 21 DECEMBER TO 25 DECEMBER |
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According to the preliminary figures released by the International Stainless Steel Forum (ISSF), global stainless crude steel production increased in the third quarter of 2009 by 17.19 percent compared to second quarter of this year to 7.064 million metric tons, while a year on year increase of 12.54 percent was also registered. All major regions showed relatively similar production volumes in the third quarter of 2009 compared to the year-ago quarter, while the stainless steel production volumes in the given quarter increased in all regions compared to the previous quarter. Only China reported a significant quarter-on-quarter increase in its production volume during the third quarter this year. |
| WEEK 14 DECEMBER TO 18 DECEMBER |
Ferrochrome Prices to Fall Next Quarter, Hernic Says
Hernic Ferrochrome Ltd., the fourth- largest ferrochrome producer, sees prices for the steelmaking raw material falling in the next quarter.
Prices for the first quarter of 2010 are likely to be “down from the current level,” Tetsu Kotaki, chief executive officer of the Brits, South Africa-based company, said in an e- mailed response to questions yesterday. |
| WEEK 07 DECEMBER TO 11 DECEMBER |
Merseta signs skills development deal with E Cape university
The Nelson Mandela Metropolitan University (NMMU) and the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) have signed a multi-million rand agreement to boost skills training in the Eastern Cape.
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| WEEK 30 NOVEMBER TO 4 DECEMBER |
SA steel giant to roll over prices into December
South Africa's largest steel producer ArcelorMittal South Africa would roll over its November prices into December, the company confirmed on Monday. |
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GLOBAL crude stainless steel production is expected to decline by 2 million tons to 23.9 million tons in 2009, according to steel consultancy MEPS forecast.
This equates to a 9.2% reduction on the outturn in the previous 12 months. |
| WEEK 22 NOVEMBER TO 27 NOVEMBER |
Toolmaker training programme to be launched in January
The first tool, die and mould (TDM) preapprentice orientation programme, which formed part of measures to deal with the “drastic” skills shortage in the TDM sector – a key support sector for South Africa’s manufacturing industry – would be launched at seven pilot sites across the country in January. |
| WEEK 16 NOVEMBER TO 20 NOVEMBER |
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Natixis commodity markets, Mitsui Bussan Commodities and other nonferrous metals analysts all forecast the nickel supply surplus will stay high through next year. So, although a global stainless steel recovery may gather momentum in 2010, the researchers believe high inventories will keep the world nickel price average under $10/lb for the third year in a row. |
| WEEK 09 NOVEMBER TO 13 NOVEMBER |
Increases in the price of ferrochrome are likely to be ongoing throughout 2010, says London-listed South African ferrochrome producer International Ferro Metals (IFM). IFM CEO David Kovarsky expects the upward trend to resume from the beginning of 2010, despite the downturn in demand in the September quarter. Full Article |
SA autocat industry lost orders worth R8bn over past year
An analysis by the Catalytic Converter Interest Group (CCIG) indicated that, over the last 12 months, the industry has lost new business contracts with a combined revenue of R7,9-billion, says CCIG chairperson and Johnson Matthey South Africa commercial manager Paul Thompson. |
| WEEK 2 NOVEMBER TO 06 NOVEMBER |
ArcelorMittal SA to cut some steel prices in November
Steel producer ArcelorMittal South Africa has cut some of its prices for November, in line with "international price trends and the rand/dollar exchange rate" - the cuts are the first to be instituted since the group's prices started recovering again in July, following a protracted period of cutbacks. |
| WEEK 26 OCTOBER TO 30 OCTOBER |
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MADRID, Oct 28 (Reuters) - Spanish stainless steel maker Acerinox (ACX.MC) said on Wednesday nine-months net loss reached 235.6 million euros ($349.5 million), in line with forecasts for a net loss of 235 million euros from a Reuters survey of six analysts. |
Distributor invests in new pipe plant
Specialised stainless steel distributor Euro Steel’s has made a significant investment in a new production plant, in Wadeville.
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Health and safety
critical to industry
Health and safety are high-priority issues for the stainless steel industry, says safety and instru-ment products provider Mine Safety Appliances (MSA) Africa. |
Global steel output rises to 107Mt in September
Global steel production continued to show a steady month-on-month increase in September, rising to 107-million tons, the World Steel Association (Worldsteel) reported on Friday. |
| WEEK 19 OCTOBER TO 23 OCTOBER |
Anglo American to sell Scaw, other noncore assets
Diversified mining company Anglo American will sell noncore assets, including Scaw Metals, to focus on its core mining activities, the group announced on Thursday, when it also revealed a management reorganisation, which will see three top executives leaving the company. |
SA's ferrochrome industry seeks export curbs
CAPE TOWN - South Africa's ferrochrome industry wants the government to impose curbs and a tariff on chromite ore exports to protect its position as a top global producer and exporter, a document to the government showed. |
Steel group may face new excessive-pricing battle as tin-plate complaint is lodged
Steel producer ArcelorMittal South Africa may face its fifth separate competition case in less than a decade, and its second excessive-pricing matter, after the South African government lodged a complaint with the Competition Commission earlier in the year on behalf of disgruntled tin-plate users. |
Chinese auto manufacturer investigates sourcing catalytic converters from SA
Chinese vehicle manufacturer Chery is investigating the possibility of sourcing catalytic converters from South Africa for its production plants in China, says Chery International Asia Pacific and South Africa GM Tony Sun. This not only provides opportunities in terms of local manufacture, but will also lower the costs of importing Chery vehicles into South Africa. Full Article |
| WEEK 12 OCTOBER TO 16 OCTOBER |
World and SA steel demand expected to rebound in 2010
Global steel demand is likely to recover in 2010, following two years of economic crisis-linked slumps, while South African and African demand should rebound strongly next year, a World Steel Association (worldsteel) "Short Range Outlook" statement, issued on Monday, indicates. |
| WEEK 05 OCTOBER TO 09 OCTOBER |
PetroSA signs Coega refinery agreement with CDC
National oil company PetroSA signed a cooperation agreement with the Coega Development Corporation (CDC) on Tuesday, which clarified the roles and responsibilities of the parties in the Coega Industrial Development Zone (IDZ) during the construction and operation of its planned $10-billion crude oil refinery. |
| WEEK 28 SEPTEMBER TO 02 OCTOBER |
SA's Implats resumes ops at mine shaft
JOHANNESBURG - Impala Platinum (Implats) said on Tuesday it had resumed operations at a shaft at its Rustenburg mine in South Africa which was suspended last week following a fatality. |
| WEEK 21 SEPTEMBER TO 25 SEPTEMBER |
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GLOBAL steel production has begun to climb in the past few months, although output still remains below the levels of a year ago, according to industry reports this week.
The biggest consumers of steel are the construction and motor industries, where activity is starting to recover after the biggest downturn since the Second World War. |
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Sep. 23 MetalBiz--From this week, South Africa started to negotiate with Europe stainless steel mills on the price of ferrochrome for the fourth quarter delivery. It is generally expected by the market that the manufacturers in South Africa will raise the price by 20-30 cents per pound. |
Pebble bed nuclear firm sees SA government support
South African nuclear technology firm PBMR expects the government to use its new pebble bed technology to diversify the energy mix away from coal, but funding problems persist, the company's head said.
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Acerinox to Post Third-Quarter Profit as Steel Recovery Starts
Sept. 21 (Bloomberg) -- Acerinox SA, the world’s biggest stainless-steel maker, expects to make its first profit since the second quarter last year as European and U.S. customers replenish dwindling stockpiles. |
Global steel output reaches 106,5Mt in August – Worldsteel
The World Steel Association (Worldsteel) reported on Monday that global steel production had increased to 106,5-million tons in August, from 103,9-million tons in July. However, on a year-on-year basis, the August output was 5,5% lower. Worldsteel reported that almost all the major steel-producing countries, including China, Japan, South Korea, Germany, the US and Brazil, had showed their highest monthly figures so far this year. Full Article
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| WEEK 14 SEPTEMBER TO 19 SEPTEMBER |
International Ferro Metals swings to R338m FY loss
JOHANNESBURG (miningweekly.com) – South Africa-focused ferrochrome producer International Ferro Metals (IFM) on Monday reported a loss of R338,5-million for the financial year ended June 2009, compared with a profit of R578,1-million recorded in the previous year.
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| WEEK 7 SEPTEMBER TO 11 SEPTEMBER |
Zimbabwe is in talks with six foreign companies over buying its shares in the country's sole iron and steel works, where it expects steel output to reach one-million tons a year, a government minister said on Tuesday. |
South Africa's Pebble Bed Modular Reactor (PBMR) Company has shipped enriched pebble fuel to Russia for irradiation tests to demonstrate the fuel's integrity under reactor conditions. |
| WEEK 31 AUGUST TO 4 SEPTEMBER |
Arcelor share charge to slow
Johannesburg - Shares in ArcelorMittal SA, a R52bn steelmaking business, had been over bought, said analysts who added, however, that the business was looking more solid amid much improved steel prices globally. |
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The Xstrata-Merafe chrome venture will increase its ferrochrome production capacity in South Africa to 85% from Tuesday, as demand for the stainless steelmaking ingredient strengthened.
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Power costs, demand to propel ferrochrome market
Ferrochrome prices could rise sharply this year because of higher electricity costs in top producer South Africa and increased buying by stainless steel mills as demand recovers. |
Nuclear still ‘firmly’ part of SA power generation plans – Eskom
State-owned power utility Eskom was hoping that a clear strategy for South Africa’s nuclear plans would emerge in the next few months, as nuclear was still “firmly” |
| WEEK 24 AUGUST TO 28 AUGUST |
Highveld sees signs of improved steel demand
South African steel producer Highveld Steel & Vanadium on Wednesday said it could increase its operational levels systematically to full production during the later part of the year, if higher demand levels continued |
Afrox profit slumps 57% in ‘extremely tough’ interim period
Welding, cutting and gas product supplier African Oxygen (Afrox) on Thursday reported a 57% drop in net profit for the six months ended June 30, while revenues fell by 11%.
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Power Cuts Threaten South Africa’s Economic Recovery
Aug. 24 (Bloomberg) -- South Africa’s economic recovery is under threat because its national power utility is unable to raise funds to build power plants needed to keep the world’s biggest precious metal mines running. |
| WEEK 17 AUGUST TO 21 AUGUST |
World steel output reached highest level for ’09 in July
The 66 countries reporting to the World Steel Association (Worldsteel) produced 103,9-million tons of steel in July – its highest monthly production figure for 2009.
In June, global steel output reached 99,8-million, up from May’s production of 95,6-million tons.
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Rising nickel price is linked to traders, not users
World nickel prices have increased this summer to an August month-to-date average of $8.94/lb mostly because of growing investment by traders and hedge funds, according to analysts, who see no demand surge by stainless steel mills and other users. Spot nickel sold on the London Metal Exchange (LME) had averaged $7.25 in July, well above the last monthly low of $4.39 in December. |
180 bids received for Port Elizabeth solar water heater project
The Central Energy Fund (CEF) said it received some 180 bids in response to its advertisement seeking interested parties for the supply of solar water heaters (SWHs) for the initial phase of a major project roll-out in Port Elizabeth |
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Sunday, 16 Aug 2009
Dow Jones quoted Mr Alan Hippe CFO of ThyssenKrupp AG as saying that it still sees the need for a consolidation of the stainless steel market despite some improvements in trading conditions in recent weeks.
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| WEEK 10 AUGUST TO 14 AUGUST |
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Solidarity said yesterday it had declared a dispute with unlisted steelmaker Columbus Stainless Steel over a wage deal that was agreed on last year, which it said the company was seeking to change. |
| WEEK 03 AUGUST TO 07 AUGUST |
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JOHANNESBURG (miningweekly.com) – South African miner Merafe Resources expects the demand for ferrochrome to recover in the short to medium-term, CEO Steve Phiri said on Tuesday.
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| WEEK 27 JULY TO 31 JULY |
Acerinox has announced the financial and operational results for first half of 2009. Some of the highlights are as follows:
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PBMR concentrates on core competences and diversifies markets
South Africa’s nuclear reactor technology development enterprise, the PBMR Company, is in discussions with a foreign country – which cannot yet be identified – which wants to create a nuclear energy sector with South African assistance and expertise. This would be provided by the PBMR Company and by the South African Nuclear Energy Corporation (Necsa). |
Merafe: Ferrochrome output off 60%
Merafe Resources had a 60 percent fall in ferrochrome output in the first half of the year at its chrome joint venture with Xstrata, the company said yesterday, blaming the global recession. |
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South Africa’s largest steel producer, ArcelorMittal South Africa, will increase the prices of some of its flat steel products from September 1.
The company confirmed on Thursday that prices of some flat steel products would increase by between R250/t and R750/t.
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| WEEK 20 JULY TO 24 JULY |
International Ferro restarts second SA furnace
JOHANNESBURG (miningweekly.com) – London-listed ferrochrome producer International Ferro Metals (IFM) would restart its second furnace at the Buffelsfontein smelting and mining operation, in South Africa’s North West province, in mid-August, as demand from the Chinese steel industry increases. |
Global steel production declined by 21,3% in the first half of 2009, compared with the first six-months of last year, the World Steel Association reported on Monday.
Most of the major steel-producing countries showed a decrease in their crude steel output in the first half of 2009, with only China and Iran increasing output in the six-month period.
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| WEEK 13 JULY TO 17 JULY |
Posco to Buy Vietnam Stainless, Build India Plant
July 17 (Bloomberg) -- Posco, South Korea’s largest steelmaker, will buy a 90 percent stake in Vietnam’s Asia Stainless Corp. and build a plant in India after this week forecasting a demand recovery in the second half. |
International Ferro sees short-term demand picking
Demand and spot prices for ferrochrome had increased “noticeably” in the past four weeks, as a result of the Chinese stimulus programme and low ferrochrome inventories, International Ferro Metals (IFM) CEO David Kovarsky said on Friday. |
| WEEK 06 JULY TO 10 JULY |
SA green building benefits from ‘active’ civil society – Chinese organisation
China-based Sustainability & Innovation international team leader Tiffany Tsui said this week that an “active civil society” would be South Africa’s biggest driving force in promoting green building.
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SA mining output falls 14,5% in May
JOHANNESBURG (miningweekly.com) – South Africa’s mining output declined by 14,5% year-on-year in May, Statistics South Africa (Stats SA) reported on Thursday.
Gold production was down 10,5% year-on-year, while nongold production declined by 15,1% year-on-year.
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More aid options under consideration for struggling motor industry
Financial support from the Industrial Development Corporation (IDC) has been the first programme government implemented – after consulting the National Association of Automobile Manufacturers of South Africa (Naamsa) – to help the stressed automotive industry, with several other options also being placed on the table.
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Output up 60% at Merafe-Xstrata venture
Merafe Resources had increased output at its joint venture with Xstrata to 60 percent due to higher demand, the South African ferrochrome producer said yesterday, sending shares up 8 percent.
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STRENGTHENING demand for ferrochrome is encouraging SA’s major ferrochrome producers to bring mothballed capacity back on line, they said yesterday.
Last month the third-quarter benchmark ferrochrome price was settled 29% above the second-quarter price at $0,89/lb — still well below the $1,21/lb achieved last year.
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South Africa is considering regional investment into its 400 000 barrels-per-day planned refinery at Coega in exchange for supplies of fuel products, Energy Minister Dipuo Peters said this week. |
Local and international green building experts would be sharing their knowledge of green building and environmentally sustainable building practices at the Greenbuilding.co.za conference and exhibition, which would be held at the Sandton convention centre on July 7 and July 8 in Johannesburg.
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| WEEK 29 JUNE TO 03 JULY |
It is reported that the negotiations with stainless steel companies in Europe on price of South African charge chrome for shipments in July to September quarter of 2009 are supposed to be boiling down in this week. South African producers have targeted to rise the price to a level of 90 US Cents per pound of Cr and German mills, which are recovering their production of stainless steel, have moved to the direction to accept this price.
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JOHANNESBURG (miningweekly.com) – Finnish company Ruukki is emerging on the South African mining and metals front with an integrated platinum and ferrochrome mine-to-metals business that is heading for listings in London, Johannesburg and Helsinki, following Tuesday’s R2,9-billion merger plan with Sylvania and last month’s R2-billion acquisition of South Africa’s Mogale Alloys, formerly Krugersdorp Ferrochrome |
Argent FY earnings take a knock
The global economic crisis and a slowdown in domestic market conditions has led to an “unavoidable below par” set of results for JSE-listed steel merchant Argent Industrial in the 2009 financial year, with its steel and automotive businesses the worst affected.
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ArcelorMittal SA to increase prices again in August, despite rand strength
South Africa’s largest steel producer ArcelorMittal South Africa would raise domestic selling prices for the second month on the trot as from August 1, 2009, despite sustained rand strength.
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JOHANNESBURG (miningweekly.com) – The interim increase in electricity tariffs would add an additional R2-billion in costs to the South African mining industry, Chamber of Mines (CoM) technoeconomics assistant adviser Dick Kruger says.
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