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Toyota aims to increase exports into Africa as market recovers Toyota aims to increase exports into Africa as market recovers
Published: 17 Aug 18
Toyota South Africa Motors (TSAM) aims to export 100 000 vehicles a year from its Durban plant, says president and CEO Andrew Kirby. Total plant capacity is 242 000 units a year, which includes a 234 000-unit capacity for the Hilux, Fortuner and Corolla, 13 500 for the Ses’fikile minibus and 5 000 for Hino trucks.
Commodity price increases lack conviction – IHS
Published: 17 Aug 18
Commodity analysts IHS Markit on Thursday reported that the Materials Price Index (MPI) had risen by 0.5% in the last week, but that the index’s ten subcomponents were evenly split between those showing increases and those showing declines, highlighting the uncertainty in markets. The MPI measures a weighted average of weekly spot prices for a key collection of globally traded manufacturing inputs, such as crude oil, chemicals, nonferrous metals, ferrous metals, paper pulp, lumber and rubber, besides others.
Ausdrill raises first A$175m
Published: 17 Aug 18
Mining services provider Ausdrill has raised some A$175-million from the institutional component of its 1-for-2.13 pro-rata non-renounceable entitlement offer. The completion of the institutional offer is the first stage of the company’s fully underwritten entitlement offer, which is expected to raise some A$250-million. The offer is priced at A$1.47 a share.
Nkwe recommends Zijin offer aceptance
Published: 17 Aug 18
The independent directors of South Africa-focused Nkwe Platinum have unanimously recommended a 10c a share takeover offer from shareholder Zijin Mining Group. The 10c a share takeover offer was a 25% improvement on the 8c a share offer launched in March this year, and provided shareholders with a significant premium to the company’s trading prices, Nkwe said this week.
Evolution's profits surge in 2018 Evolution's profits surge in 2018
Published: 17 Aug 18
Gold miner Evolution has reported a 21% surge in underlying net profits after tax for the 2018 financial year, on the back of a 4% increase in sales revenues. Underlying net profits after tax for the full year ending June reached A$250.8-million, while statutory net profit after tax also increased by 21%, to A$263.4-million.
Kangaroo shares jump on deal
Published: 17 Aug 18
The share price of junior Kangaroo Resources surged by more than 40% on Friday on news of a takeover offer from major shareholder PT Bayan Resources. Kangaroo on Friday reported that it had entered into a binding scheme implementation agreement with PT Bayan under which the shareholder would acquire the remaining shares in Kangaroo for 15c each.
BP signs up for PNG LNG
Published: 17 Aug 18
The joint venture partners of the Papua New Guinea liquefied natural gas (PNG LNG) project have entered into a mid-term LNG sales and purchase agreement with BP Singapore. Under the terms of the agreement, BP will be supplied with around 0.45-million tonnes of LNG a year over an initial three-year period. This will increase to 0.9-million tonnes a year over the subsequent two-year period.
Poseidon gets conditional proposal
Published: 17 Aug 18
ASX-listed Poseidon Nickel has received a conditional proposal from Perth-based Black Mountain Metals. Poseidon told shareholders on Friday that while no formal bid price per share has been offered or agreed upon, Black Mountain has made an informal proposal of 6c a share
Multiple role-players needed within intelligent mine Multiple role-players needed within intelligent mine Has Video
Published: 17 Aug 18
Mining companies need to establish ecosystems of suppliers and partners to establish, operate, manage and integrate an intelligent mine, says Internet of Things (IoT) solution developer IoT.nxt mining partnerships director Eric Croeser. “Mining companies, whether small or global, cannot solve the problems they have on their own. They need to establish ecosystems to harvest innovation from different parties,” reiterates enterprise integration solutions provider MineRP marketing VP Empie Strydom. He emphasises that these ecosystems can solve intricate problems that individual companies “simply cannot”.
Software platform boosts operator performance Software platform boosts operator performance
Published: 17 Aug 18
Durban-based global supplier of surface and underground mining simulators ThoroughTec Simulation developed the CYBERMINE WX platform that monitors operator performance and provides targeted training to improve efficiencies. The CYBERMINE WX platform is being tested at local mines where the initial results indicate that the system will deliver significant productivity, cost saving and general safety improvement returns to mine operations. The platform will be officially released locally later this year.
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