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Reuters

Ukraine’s Ferrexpo raising $350m pre-export loan

24th July 2017 Ukrainian iron-ore producer Ferrexpo is raising a four-year pre-export syndicated loan of up to $350-million, banking sources said on Monday. The deal is the first time the company has tapped the syndicated loan market since discharging financial restructuring advisers in April 2016. 

Opec moves to cap Nigerian oil output, boost compliance

24th July 2017 Opec moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. Opec has agreed with several non-Opec producers led by Russia to cut oil output by a combined 1.8-million... 

Botswana coal mine stalls as farmers reject compensation deal

24th July 2017 Development of a new 1.35-million-tonne-a-year coal mine in Botswana has stalled due to a dispute over compensation payable to farmers holding surface rights in the proposed mining area, the company developing the mine said on Monday. The open cast mine is meant to supply coal to a new 300 MW... 

Philippines' Duterte warns miners: 'I will tax you to death'

24th July 2017 Philippine President Rodrigo Duterte on Monday said he wanted to stop exporting mineral resources and might close the mining sector completely and tax miners "to death" if damage to the environment persisted. "The protection of the environment must be made a priority ahead of mining and all... 

EU activates 'all diplomatic channels' over new US sanctions on Russia

24th July 2017 The European Commission is concerned about new US sanctions on Russia that could impact Europe's energy security and has activated "all diplomatic channels" to resolve the issue. US Republicans and Democrats reached a deal on legislation to allow new sanctions against Russia, which has led to... 

Glencore to invest $21m in Brazil's copper producer Paranapanema

21st July 2017 Glencore has signed an agreement to invest up to 66-million reais ($21-million) into Brazilian copper producer Paranapanema, the Brazilian firm said in a securities filing. Paranapanema said the cash injection will give Glencore the right to appoint one board member and that the agreement is... 

Freeport Indonesia mine workers extend strike for fourth month

21st July 2017 An estimated 5 000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labour issue comes as Freeport, the... 

Tanzania's Magufuli threatens to shut mines if firms delay tax talks

21st July 2017 Tanzania's President John Magufuli has threatened to close down all gold mines in the country if mining companies delay talks with his government aimed at resolving allegations of tax evasion. The announcement by Magufuli, nicknamed "the Bulldozer" for his forceful leadership style, marks a... 

Philippines' Duterte says government plans new mining law

21st July 2017 Philippine President Rodrigo Duterte said on Friday the government will draft a new law for the country's mining industry, which he said pays too little in tax and not enough in compensation for any environmental damage. The fate of more than half of 41 mines in the Philippines, the world's top... 

Court rules in favour of indigenous group in Fortescue mining land case

21st July 2017 Australia's Federal Court has ruled in favour of an indigenous Aboriginal group's claims over land used by Fortescue Metals Group to mine millions of tonnes of iron ore in Western Australia's Pilbara region. The ruling gives the Yindjibarndi people exclusive native title rights over land... 

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