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COMMODITIES TRADING

Glencore commodity trading earnings slump in 2011

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Glencore lost money on agricultural commodities in 2011 by trading volatile cotton markets and saw the profitability of trading metals and oil remaining weak or declining, the commodities giant said on Tuesday. Glencore, which rivals Vitol for...
8th February 2012
 
 
REGULATORY ENVIRONMENT

Oliver pushes for Ring of Fire development

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Canada's Natural Resources Minister Joe Oliver on Tuesday continued his crusade to cut down on environmental approval timelines for major projects, to encourage the potential C$92-billion in mining investment the government sees over the next ten...
31st January 2012
 
 
TRADING UPDATE

Assore sees higher half-year earnings

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Shares in JSE-listed Assore rose 4% on Tuesday, after the company said it was set to report a significant increase in its interim earnings. The manganese, iron-ore and chrome company expected to earn between R1.99-billion and R2.21-billion for...
31st January 2012
 
 
FERROCHROME

IFM sees full output in Q1 on likely restocking

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International Ferro Metals expects its operations to generate cash in the first quarter and said there was a likelihood of restocking in the ferrochrome market in early February. "With Eskom electricity price increases due on April 1, and...
24th January 2012
 
 
CARBON TAXES

Mining-heavy SA industry group issues carbon tax warning

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An industry lobby group comprising large mining groups and mineral processing companies is cautioning against the proposed introduction of a carbon tax in South Africa until South Africa has fully charted its abatement potential and the costs...
23rd January 2012
 
 
METALS TRADING

LME CEO firm on fee hike, sale opposition hardens

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London Metal Exchange (LME) CEO Martin Abbott held firm on a decision to hike trading fees that has hardened members' opposition to the potential sale of the world's top metals marketplace. High-level members of the 130-year-old exchange say that...
12th January 2012
 
 
CHROME

Lonmin loses DMR appeal, Keysha applies for mining right

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LSE- and JSE-listed platinum major Lonmin has lost its appeal against non-platinum prospecting rights being granted on its mine property to Holgoun’s Keysha. The Department of Mineral Resources (DMR) says that the granting of the right to...
12th January 2012
 
 
Xstrata-Merafe Lion Expansion Phase 2

Company awarded its largest-ever contract

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Air-cleaning and dust control company Actom Air Pollution Control (Actom) has been awarded a R200-million contract to provide a range of filtration equipment for the control of fumes and dust in the Phase 2 smelter expansion at Xstrata’s Lion...
16th December 2011
 
 
 
 
 
 
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