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Pt 849.02 $/oz Change: -16.72
 

Bloomberg

Bristow taking Barrick helm aids Acacia talks, Tanzania AG says

18th March 2019 Mark Bristow taking over the leadership of Barrick Gold facilitated negotiations with Tanzania about a multibillion-dollar tax dispute that could be resolved by May, the country’s attorney general said. Barrick unit Acacia Mining has been at odds with Tanzania’s government since July 2017, when... 

Channelling Thatcher, South Africa’s President takes on its unions

18th March 2019 In 1987, an anti-apartheid firebrand named Cyril Ramaphosa led South Africa’s biggest-ever mining strike. Some 300 000 miners – from a union Ramaphosa himself had founded – walked off the job, protesting pay and working conditions. The mining company “used fascist methods to destroy workers’... 

The coal miner who bet everything on US power markets and lost

18th March 2019 Eleven years ago, Cloud Peak Energy made an all-or-nothing bet its rivals were unwilling to match: that coal would remain indispensable to the US power sector. That gamble has now pushed it to the brink of bankruptcy. 

Deripaska sues over US sanctions, claims $7.5bn loss

18th March 2019 Russian billionaire Oleg Deripaska is fighting back in a US court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin. Deripaska, who made his... 

Brazil court orders Vale to stop operations at another mine

18th March 2019 A Brazilian court ordered Vale to halt production at another of its iron-ore mines, further reducing the company’s output capacity after a deadly dam burst increased government scrutiny over its operations. The Timbopeba mine in Minas Gerais state produces 12.8-million tons of iron-ore per year,... 

A mini-solar farm is floating in a dam of liquid copper waste

15th March 2019 Chile has found another use for dams that hold the liquid waste from massive copper-mining operations: power generation. Calling it the first project of its kind in the world, Anglo American has installed 256 photovoltaic panels at the tailings dam for its Los Bronces complex in Chile. 

Implats plans to build palladium mine in 2021 on bullish outlook

15th March 2019 Impala Platinum (Implats) plans to start building a new palladium mine that could begin producing as soon as 2024 as the company’s outlook for metals turns bullish. Implats, as the second-biggest platinum miner is known, plans to start work on the Waterberg project in South Africa in 2021, CEO... 

Zimbabwe to scrap platinum, diamond mine ownership rules

15th March 2019 Zimbabwean Finance Minister Mthuli Ncube said a rule requiring local investors to control platinum mines will be scrapped and foreigners will be allowed to own 100% in a bid to revive investment. “We are removing that indigenization rule, which is discouraging foreign direct investment,” Ncube... 

Investors blast 'terrible' $12m deal for Goldcorp chair

14th March 2019 A lucrative retirement package for the chairman of Goldcorp is raising the hackles of investors ahead of a key vote on the company’s planned merger with Newmont Mining. Ian Telfer’s retirement allowance will rise to roughly $12-million from $4.5-million if the miners merge, according to a... 

Fiat recall leaves palladium buyers bracing for 'supply shock'

14th March 2019 Fiat Chrysler Automobiles’s recall of almost 900 0000 gasoline-fueled vehicles could spur additional demand for the palladium market that’s already reeling from shortages. Replacing the catalytic converters in these vehicles would require an additional 77 000 oz of palladium, said Miguel... 

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