R/€ = 16.21 Change: -0.01
R/$ = 14.33 Change: -0.02
Au 1319.31 $/oz Change: 2.58
Pt 853.02 $/oz Change: 2.80


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... 

Nornickel sale shows taste for Russian stock deals

13th March 2019 Roman Abramovich’s sale of a stake in Russia’s biggest mining company shows investor appetite for the country’s assets is returning. Crispian Investments, a company controlled by Chelsea Football Club owner Abramovich and his partners, increased the size of the offering in MMC Norilsk Nickel to... 

Ten worst South African performers tell tale of battling economy

13th March 2019 It’s not even the end of the first quarter and already there’s a plethora of once-significant South African companies that have either collapsed or had their share prices hit the wall. The likes of sugar producer Tongaat Hulett, tech provider EOH Holdings, Blue Label Telecoms and Aspen Pharmacare... 

Canadian oil sands' new growth is stymied by pipeline delays

13th March 2019 Oil sands producers including MEG Energy and Imperial Oil are reconsidering oil sands expansions as new export pipelines are delayed and the provincial government limits production. MEG had planned to ramp up output at an expansion of its Christina Lake oil sands project in the second half of... 

When paying $1 for a coal power plant is still paying too much

12th March 2019 One dollar. That’s how much an aging New Mexico coal plant is worth. And by some estimates, even that may be too much. Acme Equities, a New York-based holding company, is in talks to buy the 847-MW San Juan Generating Station for $1, after four of its five owners decided to shut it down. The... 

BHP crew applied brakes to wrong ore train before runaway crash

12th March 2019 BHP Group’s runaway iron-ore train saga has taken another twist. A preliminary report into last year’s calamity in the remote Australian outback has found a rail maintenance crew sent to help the faulty freight train inadvertently worked on the wrong vehicle. 

Lengthy tariff fight leads Canada to fund smaller metals firms

12th March 2019 Canada is announcing funding for the country’s smaller steel and aluminum producers as a tariff fight with the US drags on. Innovation Minister Navdeep Bains said Monday Canada will make available C$100-million in “non-repayable contributions” to small- and medium-sized steel and aluminum... 

UK shale gas potential seen as good as the best in the US

11th March 2019 Britain’s shale gas production has the potential to be as good as the best performing shale basin in the US, the Marcellus Formation. That’s the central finding from the body responsible for promoting onshore gas exploration, which tested levels at three sites across the north of England. UK... 


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