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By: Reuters Updated 2 hours 11 minutes ago Canada's main stock index dropped about 1% on Wednesday, hitting a one-month low, as the victory of the New Democratic Party (NDP) in oil-rich Alberta's provincial election hit energy shares. The left-wing NDP beat the Progressive Conservatives in a crushing win that ended the centre-right... →
By: Henry Lazenby Updated 6 hours ago Strike actions involving a portion of Sherritt International’s workforce at the Ambatovy mine and subsequently at the Ambatovy plant, in Madagascar was hindering the operation’s ramp-up to commercial production. For April, finished nickel output was 1 244 t (3 110 t on a 100% basis), or about... →
By: Simon Rees Updated 7 hours ago Embattled oil giant Petrobras released its long-delayed but audited financial results on April 22. It has finally computed the damage of a corruption scandal, with the graft costing it an estimated 6.2-billion Reais ($2.1-billion). The pre-tax impairments announced for year-end 2014 stood at... →
By: Henry Lazenby Updated 7 hours ago Canadian gold miner Iamgold after market close on Tuesday reported lower than expected headline earnings for the three months ended March 31, higher cost of sales and lower prices offset improved sales. The company’s NYSE-listed stock traded down 7.24% on Wednesday at $2.12 apiece, after the... →
By: Martin Creamer The demerging South32 mining company, which is set to hit the ground running after receiving an overwhelming 98.05% yes vote from BHP Billiton shareholders on Wednesday, is at an advanced stage of planning a global shared service centre in South Africa, which will create 200 new quality jobs.... →
By: Natalie Greve A sweeping R15.3-billion project that will replace three of petrochemical group Sasol’s ageing coal mines across the Secunda coalfields of Mpumalanga continues to advance within budget and will, once fully completed in 2016, supply the group’s nearby Synfuels complex with 42-million tons of coal... →
By: Reuters Power blackouts in South Africa and soaring Indian imports in anticipation of an El Nino climatic event have pushed thermal coal prices in the Indian and Pacific Ocean basin up since the beginning of May, raising their premium over European cargoes. Prompt cargoes from South Africa's Richards Bay... →
By: Creamer Media Reporter LSE-listed Acacia Mining has received the final approval from the Tanzanian Vice-President’s Office to start mining at the Gokona underground project, which formed part of the larger North Mara mine. Commercial production at the Gokona underground project was expected to start late in the second... →