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Bloomberg

Sanctions fallout upends metals as aluminum, nickel burst higher

19th April 2018 The turmoil unleashed by US sanctions against United Co. Rusal reverberated in metals markets, sending aluminium and nickel to multi-year highs. Global metals markets have been rocked for the past two weeks by the clampdown on Russia’s Rusal, which set off a rush for alternative supplies and... 

Relations sour at giant copper pit with automation looming

19th April 2018 Just as labour tensions ease at BHP Billiton’s giant Escondida mine, the copper industry has another iconic mine to worry about. Relations between the world’s largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years as the mine transitions... 

Russia sanctions throw aluminium supply chain into chaos

18th April 2018 The US sanctions on United Co. Rusal that have sent aluminium prices surging should be great news for rival producers like Rio Tinto Group. Spoiler alert: they’re not. 

Troubled Gupta coal mines threaten South Africa with power cuts

17th April 2018 South Africa’s State-owned power utility is working with the National Treasury to source more coal for seven of its plants that don’t have adequate supply, raising the specter of a return to rolling power cuts that have periodically slowed the economy since 2008. Eskom Holdings is diverting coal... 

Moti Group is open to selling shares in Zimbabwe mine operation

16th April 2018 The Moti Group will consider selling shares in its Zimbabwean chrome mining operations if the government pushes ahead with the proposal that has already met resistance from the country’s biggest platinum producer. Zimbabwean policymakers are debating a bill that will require mining companies to... 

Gemfields faces lawsuit alleging rights abuses at ruby mine

16th April 2018 More than 100 Mozambicans filed a case in London alleging “serious human rights abuses” at Gemfields’ ruby mine in the Southern African nation, according to their lawyers. Leigh Day, the London-based law company, alleged its clients suffered abuses at the hands of security forces at the Montepuez... 

Goldman Sachs says you must own commodities in these tense times

13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

Russia takes aim at titanium, US workers in sanctions plan

13th April 2018 Russia outlined a broad range of potential retaliatory moves against new US sanctions, including curbs on imports of American farm products and cooperation in nuclear energy and space launches, as well as a possible ban on titanium sales to Boeing Co. The proposals, which also include a... 

Mining billionaire backs outback gas pipeline to ease power woes

13th April 2018 Billionaire Andrew Forrest is studying a proposed 1 500-mile (2 400-km) transcontinental natural gas pipeline as part of his iron ore company’s strategy to diversify and to boost Australia’s power supply network. Fortescue Metals Group Ltd. confirmed it has undertaken work for a duct that would... 

Aluminium set for best week in three decades as supply woes mount

13th April 2018 Aluminium prices are heading for the best week in at least three decades as US sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Prices of the metal climbed to the highest since 2012 Thursday, helping push this week’s gain to almost 14%, the most in... 

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