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Reuters

Kabila yet to sign new mining code as deadline nears

20th February 2018 Democratic Republic of Congo's President Joseph Kabila has not yet signed into law a new mining code, a senior aide said on Tuesday, as international mining companies wage a last-ditch lobbying effort against the measure. The comments by Jean-Pierre Kambila, Kabila's deputy chief of staff, come... 

Congo seeks relief talks with oil traders over $2bn debt

20th February 2018 Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend... 

EU warns it will retaliate if hit by US trade curbs

20th February 2018 The European Commission said on Tuesday it had expressed its concern to Washington about possible measures to curb imports of steel and aluminium and warned that it was ready to react if its industry was hit. "We have made it clear to the US administration at the highest level that we would be... 

India allows private companies to bid for coal mines for commercial production

20th February 2018 India's Cabinet on Tuesday approved a plan to allow private companies to bid for coal mines for commercial production, a move that would help the country cut imports and boost local production. "This is an important reform and will ensure affordable and reliable supply of coal," Coal Minister... 

New Toyota magnet cuts dependence on key rare earth metal for EV motors

20th February 2018 Toyota Motor Corp has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20%, which could tame the cost of producing electric cars and reduce the risk of a supply shortage of materials needed for their production. The Japanese automaker... 

Russia's Prokhorov sells 6% stake in Rusal to Vekselberg

20th February 2018 Russian businessman Mikhail Prokhorov has agreed to sell a 6% stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday. The sale will close a chapter at the world's second largest aluminium producer.... 

Peru tenders $2bn copper project in first major auction in years

20th February 2018 Peru will accept bids and award a contract to develop the estimated $2-billion Michiquillay copper mine on Tuesday in the first major auction from the world's No. 2 copper producer in at least a decade. The auction was delayed twice last year, in part due to political turmoil in Peru. The bids... 

Australian Mines shares surge 60% on offtake deal

20th February 2018 Shares of battery and technology metals developer Australian Mines Ltd surged on Tuesday after the company signed an offtake agreement with South Korean battery maker SK Innovation for nickel and cobalt from its Sconi project. The commodity off-take agreement, which is for an initial period of... 

BHP CEO says to meet activist investor Elliott this week

20th February 2018 BHP Billiton CEO Andrew Mackenzie said he will be meeting with activist investor Elliott Advisors this week, among others, and will be discussing their call for BHP to scrap its dual listing in the UK. Mackenzie said he wants to hear all investors' views on the dual listed structure and is open... 

Colombia coal output down slightly in 2017 to 89.4Mt

19th February 2018 Colombia, the world's fifth-largest exporter of coal, produced 89.4-million tonnes in 2017, down 1.2% from output the year before, the Energy and Mining Ministry said in a statement on Monday. The country produced 90.5-million tonnes in 2016. 

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