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Bloomberg

Opec goes back into crunch talks as Russia resists big oil cut

7th December 2018 The Organisation of Petroleum Exporting Countries (Opec) prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding. After a six-hour meeting in Vienna, Saudi Energy Minister... 

What global rules against ‘blood gold’? Small-scale miners have to eat

7th December 2018 When his fellow miners winch him up from the hole in the desert, Keith Gushure is covered in mud. Gushure, 21, holds a pick and a hammer. For the past 18 hours he’s been trying to chip, gouge and pry gold out of the 17 metre mine he helped dig, one of a series of deep pockmarks that dot the dry,... 

Manchin changes mind on Trump's pro-coal nominee amid pressure

6th December 2018 Senator Joe Manchin reversed course Wednesday and voted against President Donald Trump’s nominee to the Federal Energy Regulatory Commission amid a drive by his party’s progressive wing to stop him from becoming the top Democrat on the Energy and Natural Resources Committee. Manchin was the sole... 

Palladium tops gold after rally powered by surge in demand

5th December 2018 Gold just got left behind by one of its sister metals. After a demand-fueled rally over the past four months that’s seen prices hit a record, palladium for immediate delivery topped gold following a surge higher. Palladium, which hasn’t traded at a sustained premium to gold in 16 years, has... 

High risk/high reward lithium bet drives Argentina mining surge

5th December 2018 High risk/high reward. That’s the bet being made by global lithium miners in Argentina who are brushing aside a recession, a currency crisis and political uncertainty in their hunger for the mineral that helps power electric cars. Rising demand and limited supply have resulted in lithium prices... 

Copper deals to get elusive after Teck's $1.2bn sale

5th December 2018 The global hunt for high-quality, low-risk copper assets that are ready for construction is about to get tougher after Teck Resources sells a stake in one of the few deals available. Sumitomo and Sumitomo Metal Mining agreed to pay $1.2-billion for 30% of the Compañia Minera Teck Quebrada Blanca... 

How power utility Eskom is hobbling South Africa's economy

5th December 2018 It’s deja vu for South Africa as a chronic power deficit plunges large tracts of the country into darkness and casts a pall over the already struggling economy. Eskom Holdings, which supplies most of the nation’s electricity, has instituted daily rolling blackouts since November 29 to avert a... 

No 2 platinum miner mulls purchases in low-cost asset shift

4th December 2018 Impala Platinum Holdings said it’s open to acquiring low-cost assets as the struggling miner looks beyond a plan to close unprofitable shafts in South Africa. The No 2 platinum producer, known as Implats, is playing catch-up with larger rival Anglo American Platinum, which is boosting output and... 

Lithium, cobalt costs hinder battery-powered car sales – HSBC

4th December 2018 High prices for lithium and cobalt will hinder sales growth in battery-powered vehicles the next few years, according to HSBC Holdings. Global market share by 2025 for fully electric vehicles will be lower than previously projected – 9.4%, compared with an earlier estimate of 10.5%, HSBC... 

Big lithium riches lure first-time miner to Bolivia’s salt flat

4th December 2018 A small army of workers from cities and villages across Bolivia boards the buses for the last leg of a commute that can last days. The meandering, bumpy dirt roads, the thin air at high altitude, the ordeal of bringing labor into the blinding white plain of the world’s largest salt flat—all of... 

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