Daily Archives: May 4, 2018

Win-Win Cooperation Between CNMC Goldmine Holdings Limited and Shandong Xinhai Mining Technology and Equipment Inc.

YANTAI, China, May 4, 2018 /PRNewswire/ — Recently, CNMC Goldmine Holdings Limited (SGX:5TP) forged a strategic partnership with Shandong Xinhai Mining Technology and Equipment Inc. (NEEQ: 836079), in the hope of taking the development of mining industry to a new level through their cooperation.

Their cooperation for the first time brought win-win results in 2017, thus laying a solid foundation for their further collaboration. On the other side, building on its advanced technologies and equipment and professional services, Xinhai is able to help CNMC achieve maximum benefits.

At the signing ceremony, the executive president of CNMC said, “As a publicly listed company in Malaysia, CNMC has taken the lead in Malaysia’s mining sector for two consecutive years. To secure our leading position, we have set high standards for our partners in terms of the quality and quantity of products. With a high level of execution capability and customer-oriented awareness, Xinhai is an influential player in the mining industry and boasts global perspectives and pioneering spirit. Zhang Yunlong, chairman of Xinhai, is a senior mineral processing engineer who proves to be a specialist. He also serves as a fellow member of the Australasian Institute of Mining and Metallurgy (AusIMM).”

Mr Zhang also said, “The cooperation between Xinhai and CNMC has brought fruitful results for us, with the project operating normally. Xinhai is delighted to continue providing services for CNMC. Thanks to its rich overseas EPC project experience, Xinhai is forging ahead with its strategy of expanding businesses to foreign markets.”

Their cooperation drew the wide attention of mass media. The event grabbed the headlines in Malaysia’s three largest Chinese newspapers-Nanyang Siang Pau Malaysia, China Press and Sin Chew Daily. It is expected that Xinhai will continue to offer tailored solutions and world-class services to its clients for years to come while adhering to the principle of “Optimal solutions for your mine!”.

ESKOM ASSURES SOUTH AFRICANS IT WILL KEEP LIGHTS ON THIS WINTER

JOHANNESBURG– The interim Group Chief Executive Officer (CEO) of South African power utility Eskom, Phakamani Hadebe, has told South Africans that the parastatal is committed to keeping the lights on this (Southern Hemisphere) winter, despite low stocks of coal at six of its power stations.

He told a media briefing here Thursday that coal stockpiles at all coal-fired power stations were at an average of 35 days’ usage, excluding the plants under construction — Medupi and Kusile. We have implemented plans to manage a shift in plant performance and coal stock levels, thus making load shedding unlikely this winter,” Hadebe added.

The resilience of the power system was evidenced in March this year following a number of plant breakdowns and a number of units on scheduled maintenance. We expect several units to be back on line before the end of this month and will further strengthen the power grid ahead of the winter season, Hadebe said.

Hadebe assured the country that plans are in place to improve coal stockpile levels at the six power stations which are currently below minimum stock level requirements. The coal recovery plan includes securing additional coal supplies and a redirection of coal from other power stations’ coal-yards to address the imbalance at the six power stations.

Eskom is also concluding an interim coal supply agreement with a coal-supply company, Tegeta, who business is currently under administration for supply of coal to the Hendrina power station, while the company rescue process takes place. In addition, Eskom is negotiating tenders for 100 million tons of coal required for the next five years.

The challenge of coal stock levels below the required target at some of our power stations is not ideal, especially as the organization prepares for the traditionally higher energy usage period in winter.” Hadebe said. We have, however, put measures in place to mitigate the situation and if the current state does not improve, we will meticulously reassess the situation, review our plans and take the necessary action.”

Source: NAM NEWS NETWORK

PRESIDENT ASSURES INVESTORS SOUTH AFRICA WILL ADDRESS ALL POLICY UNCERTAINTIES

JOHANNESBURG– President Cyril Ramaphosa has assured potential investors that his government is determined to address all outstanding policy uncertainties, such as the Mining Charter, as soon as possible.

Delivering the keynote address at the Japan-Africa Public-Private Economic Forum in Johannesburg Thursday which is focusing on the need for collaboration between governments and private sector, among other subjects, Ramaphosa assured investors that the Mining Charter would soon be finalised.

He also urged Japanese companies to contribute to the country’s ambitious global investment target over the next five years.

As I stand here I can see a number of you, who are going to contribute to this 100 billion US dollars. I can see you sir, I can see you sir, I can see you sir and in your face I can see that you’re raring to go and I thank you in advance.

The Japan-Africa Public-Private Economic Forum opened at the Sandton Convention Centre in Johannesburg earlier Thursday.

The gathering, the first of its kind in South Africa, is being attended by a number of African and Japanese Cabinet ministers, chief executive officers and business people discussing healthcare, technology, infrastructure and more.

The aim of the conference is to bring together the world’s third largest economy with Africa to try and develop businesses together.

Source: NAM NEWS NETWORK