June 2012

AMM: Manganese alloy tags under pressure

Manganese alloy prices have come under pressure amid seasonally weaker steel production and adequate supply in the market.

MB NON-FERROUS PRICE CHANGES

The following MB non-ferrous free market prices changed on Friday:

South Africa drops down international electricity price rankings

South Africa’s electricity users should be concerned that the country has slipped down further in the rankings of the price of electricity supply, according to international energy consultant NUS Consulting Group.

Transnet to approach debt market to finance expansion drive

South Africa’s state-owned freight and ports company Transnet wants to finance part of its R300 billion ($35.6 billion) expansion plans by approaching international debt markets, ceo Brian Molefe said on June 28.

Ferro-alloys demand healthy on long-term contracts

Contract demand for most ferro-alloys remains steady as consumers maintain their monthly volumes and frequently take up their full options, market participants told Metal Bulletin.

ArcelorMittal must pay for its share in Kalagadi within 10 days

ArcelorMittal International must meet its shareholder agreement with Kalagadi Manganese in South Africa and pay R241 million ($28.6 million) within ten days, the South Gauteng High Court ordered on June 26.

RESOURCE NATIONALISM: South Africa’s president tells ANC to go beyond mines nationalisation debate

African National Congress (ANC) members must delve deeper in discussions about the mining industry than the debate on nationalisation, urged South Africa’s president Jacob Zuma at the opening day of the party’s policy conference on June 26.

RESOURCE NATIONALISM: South Africa will not welcome 'dirt diggers', says ANC adviser

The only mining companies South Africa would welcome are the ones who are interested in making linkages, senior government adviser on minerals policies, Paul Jourdan, said on June 25, the eve of the African National Congress policy conference.

RESOURCE NATIONALISM: Rental tax must be considered with great care, warns policy adviser

A resource rental tax could be restrictive for growth in the South African mining industry, Mzukisi Qobo, a political risk analyst and strategic government policy adviser, said.

Eskom’s planned five-year price determination is better for planning, say producers

South African power company Eskom’s request to the national energy regulator of South Africa (Nersa) to set the next multi-year price determinations on a five-year rather than three-year basis will enable smelters to plan more effectively, market participants told Metal Bulletin.