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'Dr. Doom' commentator Marc Faber faces backlash over race comments

18th October 2017 Marc Faber, the Swiss investor based in Thailand, provoked a backlash from business television and investment management firms on Tuesday after comments in his latest newsletter suggested the US had only prospered because it was settled by white people. The investor and commentator, known as 'Dr... 

Rio Tinto declares force majeure on copper from US mine

17th October 2017 Global miner Rio Tinto declared force majeure last Friday on shipments of refined copper from its Kennecott mine, in the US, following the death of a worker, a spokesperson said on Tuesday. There was no timeline for when the force majeure would be lifted, spokesperson Kyle Bennett said. A force... 

Six miners killed, one wounded in coal mine collapse in Turkey - aid agency

17th October 2017 Six miners were killed and another was wounded after part of a coal mine in Turkey's southeastern province of Sirnak collapsed on Tuesday, Turkey's AFAD aid agency said. AFAD said search and rescue teams were searching for another worker who was trapped at the site. 

KGHM plays down recent breakdown impact

17th October 2017 Polish copper producer KGHM Polska Miedz said on Tuesday it expects no big negative impact on sales or core earnings from the recent breakdown of a smelter in the city of Glogow. "We hope that we will be able to recoup some losses," CEO Radoslaw Domagalski-Labedzki told reporters. 

McKinsey 'embarrassed' by failings in South Africa scandal

17th October 2017 McKinsey said on Tuesday it was embarrassed by errors it made while working with South African utility Eskom on a R1.6-billion contract that is being investigated by Parliament and police over allegations of fraud. Privately-held McKinsey, the world's largest management consultancy, said it had... 

Peru says over 20 companies interested in $2bn copper project

17th October 2017 More than 20 companies have expressed an interest in bidding on the $2-billion Peruvian copper project Michiquillay in an auction due to take place on December 20, the Peruvian government said on Monday. The auction date had been pushed back from the originally scheduled November 15, state... 

Talks between SQM, Chile authorities end with no deal

17th October 2017 Talks to resolve a legal dispute between Chilean authorities and Sociedad Quimica Y Minera (SQM) have ended at an impasse, leaving the fate of the company's lease of lithium reserves to a judge, the government said on Monday. Chile's state-run development agency Corfo has alleged that the... 

Iraqi forces capture North Oil Co. from Kurdish forces; no disruption to oil production

16th October 2017 Iraqi on Monday forces captured the headquarters for the North Oil Company, northwest of Kirkuk, and a nearby refinery from Kurdish forces, without fighting, an Iraqi oil official said. Iraq forces moved into the premises of Iraqi state-owned North Oil after taking the nearby K1 airbase, the... 

Shanghai rebar extends rally to one-month high, lifts iron-ore

16th October 2017 Chinese rebar steel futures advanced for a third straight day to hit a one-month peak on Monday, supported by output cuts in the world's top producer as part of the government's battle against smog. The gains in steel prices lifted iron-ore, although traders were not convinced the increase in... 

Prairie Mining says near deal with Chinese banks to fund Polish mine

16th October 2017 London-listed Prairie Mining is in advanced talks with Chinese lenders to finance its coking coal mine project in Poland, its CEO said. Prairie, which is also listed in Australia, is developing the Jan Karski mine in south eastern Poland and bought the Debiensko mine last year with a view to... 

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