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Bloomberg

Glencore CEO is said to meet Congo leader after ties strained

1st March 2019 Glencore CEO Ivan Glasenberg met the Democratic Republic of Congo’s new president this week, their first encounter since Felix Tshisekedi took office, according to people familiar with the matter. The meeting comes after relations between mining companies and the government deteriorated last... 

Barrick is said to have no intention to raise Newmont offer

1st March 2019 Barrick Gold has no intention of increasing its hostile offer for Newmont Mining, according to a person familiar with the matter who asked not to be identified because the talks are private. On Monday, Barrick proposed to buy Newmont in an all-share $17.8-billion hostile deal that valued the... 

Implats plans to build palladium mine in 2021 on bullish outlook

1st 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... 

Junkyard palladium growing as an answer to waning resource

1st March 2019 Junkyard palladium is quickly becoming a growth market as mined supplies of the silvery-white metal used to control harmful auto emissions run increasingly short. With palladium prices up 83% since mid-August, recyclers are gaining an edge at a time when some producers are forecasting a deficit... 

How the cobalt market fell victim to the allure of electric cars

1st March 2019 Cobalt prices were surging so much last year that thieves were carrying out elaborate heists at warehouses in Europe’s busiest port. Now, prices are in free fall and mining companies are taking the financial hit. The story of what happened is the classic boom-bust in commodities. In the case of... 

Bring back our bullions: Romania may too seek to pull UK stash

28th February 2019 Romania may be set to join a wave of countries moving their gold home from vaults abroad after the nation’s de facto leader started a push to relocate 61 t of the reserves, worth about $2.4-billion, from the UK. Ruling-party chief Liviu Dragnea submitted a bill to amend the central bank law to... 

Barrick, Newmont race to plead merger cases to investors

28th February 2019 Executives at Barrick Gold and Newmont Mining are racing to sway a core group of top investors with stock in both companies to support their own mega-merger over that of their rival. Canadian giant Barrick wants Newmont shareholders including BlackRock, VanEck, and Flossbach von Storch to back... 

Platinum miners win reprieve as union delays South Africa strike

28th February 2019 The world’s biggest platinum miners won a reprieve after a South African court reserved judgment on whether to block a week-long industry strike that was scheduled to start Thursday night. The Association of Mineworkers and Construction Union called the action in sympathy with members at Sibanye... 

World's biggest platinum miners ask court to block strike

27th February 2019 South African platinum producers, the world’s biggest miners of the metal, have asked a court to block a planned strike by one of the country’s largest mining unions that the companies say would further hurt the struggling industry. Anglo American Platinum, the world’s top platinum-group metals... 

Gold's next fight: Barrick-Newmont's $4.5bn castoffs

26th February 2019 Barrick Gold’s plan to sell a cluster of Australian mines under its proposed $17.8-billion hostile takeover offer for Newmont Mining is set to spark a flurry of intense deal-making for the castoffs. Toronto-based Barrick has already had “many conversations with interested parties” about assets... 

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