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Pt 935.00 $/oz Change: -4.00
 

Topic

Metals billionaire to win whether electric cars boom or bust

By: Bloomberg     22nd November 2017 There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon this year. One is higher prices for nickel used in batteries as metals traders bet electric vehicles are the future of transportation. The other is a... 

Rio Tinto, China's private equity prepare to bid for lithium producer SQM

By: Reuters     21st November 2017 Rio Tinto, Canada's Wealth Minerals and Chinese private equity firm GSR Capital are considering a bid for a stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera), banking sources told Reuters. Canada's Potash Corp of Saskatchewan must divest its 32% stake in the Chilean company as... 

Glencore sees nickel in best shape in decade before EVs take off

By: Bloomberg     21st November 2017 Glencore is seeing the best market conditions for nickel in at least a decade, and electric cars are barely playing a part yet. The miner and trading giant expects nickel’s 2017 deficit at 170 000 metric tons -- one of the biggest in years and more than most market estimates – to be driven by a... 

Danakali board approves dual listing plans

By: Mariaan Webb     21st November 2017 Potash junior Danakali on Tuesday announced its intention to list on the LSE next year, becoming the second ASX-listed exploration and development firm to announce a dual listing in London this week. Danakali said its dual listing, planned for the first half of 2018, was in line with its equity... 

Nornickel sees capex rising by 2019-2020

By: Reuters     20th November 2017 Russia's Norilsk Nickel plans to increase capital expenditure to an average of $2.3-billion to $2.5-billion a year in 2019 and 2020 from about $2-billion in 2018 due to an environmental project and infrastructure modernisation, it said on Monday. Nornickel, part-owned by Russian businessman... 

Norilsk Nickel to increase 2017 palladium purchases

By: Reuters     20th November 2017 Russia's Norilsk Nickel, the world's top palladium producer, said it plans to boost purchases of palladium for its fund from Russian central bank reserves to help ease shortages in the market. Head of Global Sales and Marketing Markus Meurer told Reuters ahead of a presentation to investors that... 

Tesla truck supercharges hopes for boom in battery metals demand

By: Bloomberg     19th November 2017 Tesla’s plans to roll out an all-electric big rig have given a fresh jolt to the outlook for battery metals that will go into powering the truck founder Elon Musk is calling “The Beast.” Banks including Goldman Sachs Group, UBS Group and Bank of America are already forecasting a surge in demand... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for strategic change

By: Esmarie Swanepoel     17th November 2017 Rating agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates and Elliot International, has been picking... 

Catriona Beadel

By: Martin Creamer     17th November 2017 This week Mining Weekly features Catriona Beadel, founder and director of Young Mining Professionals UK, a networking and mentoring group 

Investor TCI demands UK's LSE answer more questions in board tussle

By: Reuters     16th November 2017 Activist investor TCI has demanded the London Stock Exchange answer a series of questions ahead of a shareholder meeting called by the fund to oust the chairperson over his handling of the planned replacement of its chief executive. Among the questions TCI wants answered by the LSE board before... 

Better regulations needed to prevent tailings dam failures – UNEP

By: Megan van Wyngaardt     15th November 2017 In the last decade, there have been over 40 mining waste failures, killing some 341 people and damaging hundreds of kilometers of waterways, affecting drinking water sources and the livelihood of communities, a new report entitled ‘Mine Tailings Storage: Safety Is No Accident’, reveals. The... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty

By: Reuters     15th November 2017 Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday. 

China's copper smelters insist no concentrate deficit after surprise Shanghai meeting

By: Reuters     15th November 2017 China's top copper smelters held an unscheduled meeting in Shanghai on Tuesday to reaffirm their position that there will be no shortage of copper concentrate supply in 2018 as the key contract renegotiation season hots up. The 10 companies on the China Smelters Purchase Team (CSPT) met to... 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Botswana coal miner Minergy plans UK listing for 2018

By: Reuters     13th November 2017 Botswana coal producer Minergy plans to list in London next year to give it access to a pool of capital that it could tap at a later date to fund its expansion, it said on Friday. CEO Andre Boje told Reuters the company, which is already listed in Botswana, could look to raise around £700 000... 

Miner Vedanta continues its recovery with robust first-half profits

By: Reuters     10th November 2017 Diversified miner Vedanta Resources said it sees further upside for zinc prices as it announced a 37.4% rise in half-year profit on Friday. A rebound in metals prices has prompted the miner to expand production of zinc and aluminium, enabling it to continue its recovery after being particularly... 

On-The-Air (10/11/2017) 

By: Martin Creamer     10th November 2017 South Africa’s loss of the top global ferrochrome spot to China has been self-inflicted; New funding for the Wits Mining Institute is giving mining a big Fourth Industrial Revolution boost; and Pounding the streets of Perth, Toronto and London is paying off for South Africans in desperate need of... 

One of the world's biggest miners is about to go coal free

By: Bloomberg     10th November 2017 Just five years ago it would have been almost unthinkable that one of the world’s biggest mining companies would not dig any coal. It’s now likely to become a reality. Rio Tinto Group, the world’s second-largest miner, has been steadily backtracking from coal to focus on better assets. It’s now... 

Fortune to consider higher cobalt output in Nico feasibility report

By: Henry Lazenby     10th November 2017 Project developer Fortune Minerals plans to increase the production rate at its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories, by between 20% and 30% in a response to feedback from potential strategic partners, the company announced on Thursday. London,... 

Platinum miner Lonmin adds more security due to protests around mines

By: Reuters     9th November 2017 South African-focused Lonmin said workers employed by its community shareholder Bapo Ba Mogale were protesting around the platinum miner's operations, leading to delays in production at two shafts. "We are experiencing minimal challenges as some buses to our E2 and E3 shafts are running later... 

Surviving on $3/oz has Lonmin in race against time

By: Bloomberg     9th November 2017 Every day, Lonmin sends thousands of miners hundreds of meters below ground, where they use drills, diggers and explosives to extract about 40 000 metric tons of rock laden with precious metals. The ore is milled, crushed, concentrated, smelted and refined in a month-long process that eventually... 

Large oil traders escape EU's MIFID II trading rules, for now

By: Reuters     9th November 2017 Less than two months before strict European Union rules on derivatives come into force, most large oil traders have persuaded regulators to exempt them for now from limits on the positions they can hold, arguing they are not speculators. The EU's revamped Markets in Financial Instruments... 

UK's Johnson to visit Washington for Iran nuclear deal talks

By: Bloomberg     8th November 2017 UK Foreign Secretary Boris Johnson will fly to Washington in an attempt to persuade the US not to abandon the Iran nuclear deal, as he battles to save his own job in London. Johnson will meet senior Republicans and Democrats to discuss the importance of the nuclear security agreement, amid... 

Bitcoin rally is eroding gold's appeal, top online vaulter says

By: Bloomberg     7th November 2017 Add bitcoin to the list of things denting gold’s appeal. Bullion’s rally faltered in the past two months as the dollar strengthened and global equities set new records, while concerns over Brexit and Catalonia’s push for independence failed to drum up notable haven demand. Now, bitcoin’s surge... 

Strike threat adds to headaches for Lonmin CE

By: Reuters     6th November 2017 The threat of a strike in South Africa put renewed pressure on Lonmin on Monday as Chief Executive Ben Magara sought to reassure investors that the platinum miner's underlying business was robust. The South African firm, not for the first time, faces an uncertain future in the wake of a 30... 

CAML the new owner of Macedonia’s Sasa mine as takeover is completed

By: Creamer Media Reporter      6th November 2017 London-based Central Asia Metals Limited (CAML) is officially the new owner of the Sasa mine in Macedonia, after the company on Monday concluded the acquisition of Lynx Resources and was readmitted to trading on Aim. The $402.5-million acquisition has diversified CAML’s base metal production... 

Lonmin to showcase social projects after share price meltdown

By: Reuters     6th November 2017 Embattled London and Johannesburg-listed platinum producer Lonmin will unveil new health and road projects in South Africa on Monday in a ceremony that will be overshadowed by its latest share price collapse. Lonmin, not for the first time, is facing an uncertain future after its shares lost 30%... 

Turkey's gold-buying spree has market wondering how much and why

By: Bloomberg     6th November 2017 Turkey’s central bank is hoarding gold again. The question is, how much and why? Official data show Turkey added 3.8-million ounces of gold worth almost $5-billion to reserves this year. While actual purchases could be much less – the figure is skewed by metal deposited by commercial banks –... 

Diplomatic row in Central Asia hurting Russia and Europe

By: Reuters     6th November 2017 An escalating diplomatic and trade dispute between Kazakhstan and its smaller central Asian neighbour Kyrgyzstan is hurting companies as far away as London, and pressure is growing on Russia to step in and reconcile its allies. Shares in UK-listed miner Kaz Minerals, which has Kazakh... 

Resilient Lonmin beats guidance, ups cash

By: Martin Creamer     3rd November 2017 The board of platinum mining company Lonmin has decided to extend the date of the publication of its 2017 financial results to afford management the opportunity to give undivided attention to the group’s operational review, which is targeting a viable business plan based on the possible raising... 

Kyrgyzstan reverses Bozymchak suspension

By: Creamer Media Reporter      3rd November 2017 The Kyrgyzstan government has cancelled the suspension of operations at the Bozymchak mine and full production has resumed, KAZ Minerals reported on Friday. The London-listed company announced on Thursday that the government had suspended operations at the gold and copper mine for three months.... 

BHP aims for more copper, oil; steers away from EV minerals

By: Reuters     3rd November 2017 The world's biggest miner BHP's response to the electric vehicle debate is to hunt for new reserves of copper and oil, while seeking a buyer for its assets to produce battery-grade nickel and steering clear of lithium and cobalt. Arnoud Balhuizen, chief commercial officer at BHP, has said 2017... 

Kyrgyzstan government shuts Kaz Minerals mine for 3 months

By: Reuters     2nd November 2017 London-listed Kaz Minerals said the government of Kyrgyzstan had suspended operations at its Bozymchak gold and copper mine on Thursday for three months. "The group believes that Bozymchak is in compliance with its obligations and is in discussions with the relevant authorities to recommence... 

Kibali Africa’s most mechanised gold mine – Randgold

By: Martin Creamer     2nd November 2017 If you want to make money in mining, you must be efficient and a company taking efficiency to new heights in Africa is Randgold Resources. While there is a perception in some developed world minds that in Africa mineworkers arrive at the gate, pick up a spade and go out there and shovel stuff,... 

Even the smallest economy in oil-rich gulf is too big to fail

By: Bloomberg     2nd November 2017 Its economy is 5% the size of Saudi Arabia’s, but analysts are betting the kingdom won’t let its neighbor’s financial woes morph into a Gulf crisis. Bahrain, one of the most vulnerable economies in the Gulf Cooperation Council to political instability and oil-price swings, sought financial... 

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