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Bloomberg

Too early to bet on mining policy change: Congo vote reaction

10th January 2019 In a surprise twist, Democratic Republic of Congo opposition leader Felix Tshisekedi was declared the winner of last month’s Presidential election, although his victory is being marred by claims by a rival that the poll was rigged. The African country is the world’s main supplier of battery... 

Oil near one-month high amid Opec cuts, economic uncertainty

10th January 2019 Oil traded near a one-month high after entering a bull market, while the tension between an uncertain economic outlook and efforts by Opec to restrict supplies continued to cause volatile trading. West Texas Intermediate slipped 0.5% after a rally on Wednesday brought crude’s rebound from an... 

Tiffany CEO says it's his 'duty' to reveal diamonds' provenance

9th January 2019 Tiffany & Co. is telling consumers where its diamonds come from as the jeweler tries to become more transparent in a notoriously opaque industry. Its top executive says the change was imperative. “This is a topic that has become more and more relevant for new generations,” Chief Executive Officer... 

Democrats ask for delay in easing sanctions linked to Deripaska

9th January 2019 Seven new Democratic chairmen of House committees demanded Tuesday that Treasury Secretary Steven Mnuchin hold off on the planned easing of sanctions against three companies tied to Russian billionaire Oleg Deripaska. “As the chairs of committees with oversight jurisdiction over the US response... 

Goldman warns iron-ore's jump into $70s 'is not sustainable'

9th January 2019 Iron-ore’s rally over the past month, with benchmark material pushing back into the $70s, is at risk as banks including Goldman Sachs Group and Morgan Stanley warn that prices are poised to drop back. While industry fundamentals have improved, current prices won’t last as more supply is on the... 

Deep in a Panama rainforest, First Quantum bondholders spy prize

9th January 2019 First Quantum Minerals is poised to fire up a giant copper project in Panama, thousands of miles from its beleaguered mines in Zambia. For bondholders, that’s a welcome distance. The Canadian copper company is ramping up production at the Cobre Panama plant this year, even as a mining tax hike... 

India court backs Vedanta restart order while State appeals

8th January 2019 India’s top court has asked Tamil Nadu to comply with a green tribunal order allowing the restart of Vedanta’s copper smelter that has been shut since March, while also agreeing to hear the southern state’s appeal. The Supreme Court, in an interim ruling, has asked Tamil Nadu to comply with last... 

If you can't pipe it, refine it: Alberta seeks oil glut solution

7th January 2019 What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and... 

Eskom is said to extend job cuts beyond top management tier

7th January 2019 Eskom Holdings will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce as South Africa’s cash-strapped power utility looks to cut costs, according to a person familiar with the plans. The state-owned company last month... 

BlackRock heaps praise on gold's role as a tough year opens

7th January 2019 Gold may extend gains as global growth slows, equity market volatility remains elevated and the Federal Reserve is expected to ease back on the pace of policy tightening this year, according to a BlackRock money manager, who says the precious metal offers an effective hedge. “Recession fears are... 

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