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Bloomberg

Megamerger push has gold miners looking for new dance partners

8th March 2019 A push by the world’s biggest gold miners to get even bigger will likely have a knock-on effect among their competitors, adding new vigor to an industry that failed to inspire investor support in 2018. The megamerger mania now under way for Newmont Mining, Barrick Gold and Goldcorp is likely to... 

Zimbabwe to scrap platinum, diamond mine ownership rules

6th 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... 

Newmont-Barrick battle puts the 'hostile' into hostile takeover

5th March 2019 Hostile takeovers are never pretty, but the battle between Barrick Gold and Newmont Mining has all the appearance of an outright brawl. In the past week, leaders at the two companies have disparaged their counterparts as inept managers who have squandered assets and destroyed shareholder value.... 

Barrick CEO vows to press on with bid for Newmont after rebuff

5th March 2019 Barrick Gold plans to proceed with a formal takeover offer for Newmont Mining, undeterred by a rebuff from the target company. Newmont’s board unanimously rejected Barrick’s $17.8-billion unsolicited proposal, saying it would not be better than Newmont’s previously announced takeover of Goldcorp.... 

Toxins found near almost all coal ash ponds tracked by industry

4th March 2019 Environmental watchdogs say the power industry’s own data show widespread groundwater contamination near sites storing coal ash, a toxic byproduct of burning coal to generate electricity. Groundwater monitoring wells near coal ash storage sites used by 265 coal power plants reveal unsafe levels... 

Miners 'lifeblood' looks poised to flow back following pot craze

4th March 2019 Marijuana companies have mesmerized retail investors, depriving the mining sector of the risk capital that’s typically been its “lifeblood". But two mega-deals and a dramatic hostile battle in the gold space may finally give moribund mining stocks a shot in the arm. That’s the basic position of... 

Rusal suspends bauxite mining in Guyana over labour conflict

4th March 2019 United Co. Rusal, Russia’s largest aluminum producer, suspended operations at its bauxite-mining unit in Guyana over a pay conflict with employees in the South American nation. Workers at Bauxite Company of Guyana "declined to work and demanded a pay increase, even though their salaries had been... 

Algorithms join hunt for cobalt backed by Gates, Bezos and Dalio

4th March 2019 A coalition of billionaires led by Bill Gates has thrown its financial weight behind a startup hoping to build a "Google Maps for the earth’s crust" to hunt for new sources of cobalt. The startup, Kobold Metals, is using data-crunching algorithms to scour the globe for cobalt, in a bet that... 

Congo President supports predecessor's mining policies

4th March 2019 The Democratic Republic of Congo’s new President appeared to offer support to his predecessor’s defining mining policies, which are opposed by international investors active in the country. “We will clean up the business climate through the popularization of the new mining code and the conclusion... 

Vale CEO steps down temporarily after failing to avoid disaster

3rd March 2019 Fabio Schvartsman stepped down temporarily as CEO of Vale as the world’s largest iron ore producer comes under increased government scrutiny for failing to prevent a second deadly burst of one of its hundreds of tailings dams in Brazil. “Even totally assured of my righteous ways and having... 

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