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Brazil’s ambassador to Canada calls for greater trade between two natural resource giants

By: Simon Rees     Updated 16 minutes ago Brazil seeks to boost the level of bilateral trade with Canada, particularly in the sphere of mining, the country’s ambassador to Canada Pedro Fernando Brêtas Bastos told audience members at the Brazil-Canada Chamber of Commerce mining breakfast on Monday. The level of bilateral trade between... 

African Minerals' lender takes control of iron ore project holding companies

By: Reuters     Updated 21 minutes ago African Minerals said its lender has taken control of two holding companies that own a majority stake in the companies that operate its sole project, the Tonkolili iron-ore mine in Sierra Leone. The miner said on Tuesday it is seeking legal advice on the move by Shandong Steel Hong Kong Zengli. 

Zambia finmin says kwacha will recover this year

By: Reuters     Updated 38 minutes ago Zambia's kwacha currency will recover this year due to an increase in the price of the copper and steps by the central bank to preserve foreign exchange reserves, the finance minister said on Tuesday. "The hard currency earnings will improve as the fiscal year progresses, especially from the... 

BNC closes $20m bond, progresses smelter restart plans

     Updated 41 minutes ago Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has successfully closed a $20-million bond to buy new equipment for its smelter, in Zimbabwe. BNC was planning to reopen the smelter by December.  

Eqstra not selling contract mining business – yet

By: Irma Venter     Updated 42 minutes ago Eqstra Holdings was going to reduce its exposure to contract mining, but it was not yet ready to sell the troubled business, said CEO Walter Hill on Tuesday. He said Eqstra would not sell its contract mining business in a “depressed market”. He said it would be prudent to first make the business... 

Eqstra not selling contract mining business – yet
Photo by Duane Daws
Walter Hill

RBPlat chalks up FY output, revenue gains to stable labour relations, cost conservatism

By: Natalie Greve     Updated 42 minutes ago Despite a year in which the platinum industry battled extended strikes and a fractious labour relations environment, black-owned Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri said he was “cautiously satisfied” with the company’s 2014 results, attributing revenue, production and earnings gains... 

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer     Updated 44 minutes ago Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Gold Fields could spend up to $500m for working mine

By: Reuters     Updated 1 hour 30 minutes ago South African bullion producer Gold Fields can afford to spend $300-million and $500-million on an acquisition but is only interested in working mines, its chief executive said. Nick Holland told the Reuters Africa Investment Summit on Tuesday the bulk of mines that fell into that category were... 

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