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Bloomberg

Coal exports from top shipper hobbled with miners facing constraints

19th September 2018 Coal exports from Indonesia will be restrained this year, which could frustrate a plan by the government to ease a burgeoning trade deficit while keeping prices elevated, according to an industry group. Producers in the world’s largest shipper face an order backlog of 18 months as they aren’t... 

Metallon may pay suppliers in gold amid Zimbabwe cash shortage

18th September 2018 Metallon Corp. is considering paying mining-equipment suppliers in gold because a cash shortage in Zimbabwe is hampering its plan to expand output, Chief Executive Officer Mzi Khumalo said. Zimbabwe, which abandoned its own currency in 2009 because of hyperinflation, has faced cash shortages for... 

Congo expects declaration on strategic metals by end of October

18th September 2018 The Democratic Republic of Congo expects to issue a decree identifying strategic metals by the end of October, a government official said. Congo’s government has said it’s preparing to categorize cobalt and other metals as strategic, imposing a 10% royalty tax on producers including Glencore and... 

Gold continues 'slow dance' around $1 200 despite fund exodus

18th September 2018 Gold is sticking to a narrow trading range around $1 200/oz even after holdings in bullion-backed exchange-traded funds plunged to their lowest in a year. Bullion for immediate delivery was 0.2 percent lower at $1 198.74/oz as of 11:29 a.m. in London. In the last month, gold has traded within a... 

Top miner sees US-China trade tensions limiting global growth

18th September 2018 Rising US-China trade tensions threaten to curb consumer purchasing power, crimp productivity growth and limit global economic expansion, according to the world’s biggest mining company. The confrontation between the world’s top two economies, “along with an increasingly unpredictable policy... 

Barrick seeks Chinese partners for Tanzania mines – Globe

17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

How Anglo quietly built a commodity trader in Glencore's shadow

17th September 2018 Anglo American has quietly become a commodities trader. In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking... 

Top platinum mines keep digging even as price at decade low

14th September 2018 Platinum prices are languishing near the lowest in a decade, but the biggest miners are barely cutting production. Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount, with top supplier Anglo American Platinum... 

Congo Mines Minister sees strategic-metals decision 'very soon'

14th September 2018 The Democratic Republic of Congo’s government will soon announce which minerals are to be designated “strategic” and subject to a 10% royalty rate, the mines minister said. Congo’s updated mining code, signed by President Joseph Kabila in March and applied since regulations were finalized in... 

US iron miner helps launch ad campaign to sing tariff praises

14th September 2018 Some US companies have reacted to the divisive issue of metal tariffs by saying as little as possible. Cleveland-Cliffs, on the other hand, has not only publicly backed the levies, now it’s putting up money to sing their praises. The US iron-ore producer says it’s deploying a promotional... 

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