Coal futures drop to $50/t first time since 2003 as Goldman calls peak

SINGAPORE – Coal futures are trading at $50/t for the first time since 2003 as the commodity downturn deepens, and US investment bank Goldman Sachs says the resource will never gain enough traction again to lift it out of its slump. Tumbling coal and metals have weighed heavily on mining shares this week, led by […]

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Virtual reality technologies gaining traction in South African mining sector

JOHANNESBURG – The use of virtual reality (VR) technologies in the South African mining industry has grown considerably over the last year, particularly on the back of the University of Pretoria (UP) opening its R50-million Kumba Iron Ore Virtual Reality Centre for Mine Design. Local software developer NxGN CEO Gary Lane is hopeful that VR […]

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Master Drilling expands European footprint

Drilling services provider Master Drilling International (MDI) has inked a €5-million deal that will see it acquire a 40% stake in Scandinavian raisebore drilling company Bergteamet Raiseboring Europe. This formed part of MDI’s long-term growth strategy and was an effective entry into the Scandinavian region. With Bergteamet’s dominant market share in Sweden, Norway and Finland, […]

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