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eCobalt preconstruction activity ramps up

By: Henry Lazenby     Updated 3 hours ago Preconstruction activities for eCobalt’s Solutions’ Idaho Cobalt Project (ICP) is ramping up with components for the water treatment plant starting to arrive on site, the company reported on Monday. The Vancouver-headquartered company has awarded contracts for the water treatment plant’s... 

LME plans nickel closing price experiment

By: Reuters     Updated 4 hours ago The London Metal Exchange (LME) is planning to move end-of-day pricing of the benchmark three-month nickel contract from open outcry to its electronic trading platform for a trial period, LME chief Matt Chamberlain said on Monday. The temporary move is designed to test the practicality of... 

US extends deadline for Rusal sanctions, aluminium prices dive

By: Reuters     Updated 4 hours ago The US on Monday gave American customers of Russia's biggest aluminium producer more time to comply with sanctions, and said it would consider lifting them if United Company Rusal Plc's major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company. Aluminium prices on the London... 

Stocks fall as US yields rise, commodities tumble

By: Reuters     Updated 4 hours ago A gauge of global equity markets declined on Monday as US bond yields moved closer to the 3% level that has unsettled investors in recent months, while a fall in commodity prices pressured materials stocks. US bond prices fell, with the ten-year yield hitting its highest in over four years at... 

Gold tracks the dollar as investments take a back seat – WGC

By: Anine Kilian     23rd April 2018 A new report published by the World Gold Council (WGC) shows that the US dollar is again a strong indicator of the direction of the gold price. “Historically, gold has had a consistently negative correlation to the US dollar. Gold’s relationship with the dollar is determined by US-based gold... 

US grants reprieve to Rusal, says will weigh impact on allies

By: Reuters     23rd April 2018 The United States on Monday opened the door to sanctions relief for Russian aluminum producer United Company Rusal Plc, saying it was considering a company bid to avoid US sanctions and would weigh the impact on American allies and partners. 

Russia sanctions spook palladium investors as supply fears mount

By: Bloomberg     23rd April 2018 Hedge funds just made an abrupt about face in the palladium market as US sanctions against Russian titans spark concerns that the world’s largest producer of the metal will get caught in the cross hairs. After the US slapped penalties on United Co. Rusal, American officials have sent conflicting... 

Mining firms from China to Canada watch as Greenland holds election

By: Reuters     21st April 2018 With melting ice expanding access to the Arctic, investors from China to Canada are watching Greenland's election next week for signs of the political will to get a flagging mining programme on the island back on track. Greenland is hoping rising commodity prices can help attract foreign... 

Sanctions-hit Russian firms ask government for $1.6bn in liquidity – Interfax

By: Reuters     20th April 2018 Russian companies hit by US sanctions, including aluminium giant Rusal, have asked for $1.6-billion in liquidity support from the government, Finance Minister Anton Siluanov was quoted by Interfax news agency as saying on Friday. The US on April 6 imposed sanctions against several Russian... 

Norway's Hydro notifies Rusal of possible force majeure

By: Reuters     20th April 2018 Aluminium maker Norsk Hydro may declare a force majeure on contracts it has with Russia's United Company Rusal due to recently imposed US sanctions, the Norwegian company said on Friday. "Hydro has notified Rusal it may be necessary to declare force majeure on certain contracts, as the company... 

Kazakhstan seeks new alumina markets amid Rusal's troubles

By: Reuters     20th April 2018 Kazakhstan is looking to open up new markets for its alumina exports, concerned US sanctions on Russian aluminium giant Rusal could hit business and jobs. Eurasian Resources Group (ERG), a company part-owned by the Kazakh government, produces 1.5-million tonnes a year of alumina, which is used... 

India seeks consultants to frame regulations for gas trading hub

By: Ajoy K Das     20th April 2018 With the Indian government aiming to set up a natural gas trading hub in the country, sector regulator the Petroleum and Natural Gas Regulatory Board (PNGRB) is seeking to appoint a consultant to help determine a regulatory mechanism for such a trading exchange. “In  order to further boost the... 

Trump's latest plan for saving coal comes from the Cold War

By: Bloomberg     20th April 2018 Months into the Korean War, President Harry Truman capped wages and imposed price controls on the steel industry, seizing authority under a newly passed law to take action in the name of national defense. Now, more than a half century later, Trump administration officials are considering using... 

Latin America the leading region in new global wave of exploration

By: Rebecca Campbell     20th April 2018 Worldwide, the mining industry has been recovering from the slump that started in 2012. “After a challenging 2013/14 when the prices of commodities plummeted across the board, 2016 and 2017 have seen resurging prices for aluminium, copper, zinc, nickel, lead, palladium and, more modestly, gold,”... 

Companies reach shaft sinking milestones

     20th April 2018 Multinational mining company Turquoise Hill Resources’ Oyu Tolgoi copper/gold mine in Mongolia, has achieved significant underground development milestones with the completed sinking of two shafts this year. The Oyu Tolgoi, one of the world’s largest new copper/gold mines, is located in the South... 

Positive growth for African copper industry expected

By: Victor Moolman     20th April 2018 Market research firm BMI Research (BMI), a member of the Fitch Group, predicts positive production growth for the copper mining industry and in copper mine project development across Africa in its copper market research report ‘Global Industry Overview’, released last month. BMI commodities... 

Latin America the leading region in new global wave of exploration

By: Rebecca Campbell     20th April 2018 Worldwide, the mining industry has been recovering from the slump that started in 2012. “After a challenging 2013/14 when the prices of commodities plummeted across the board, 2016 and 2017 have seen resurging prices of aluminium, copper, zinc, nickel, lead, palladium, and more modestly in gold,”... 

Leapeetswe Molotsane

By: Martin Creamer     20th April 2018 This week Mining Weekly features Leapeetswe Molotsane, the interim MD and CEO of Resgen, which is constructing the Boikarabelo coal mine in South Africa's Waterberg coal field. 

Promise of Vision 2030 for mining new breath of fresh air

By: Martin Creamer     20th April 2018 The announcement by the Department of Mineral Resources (DMR) that it is engaged in the development of a Vision 2030 for mining is a positive step in the right direction after years of short-term pussyfooting by a department that had fallen behind those of competitive mining jurisdictions in... 

Strategy Recruitment Marketing partners with 4R Technologies in setting up its new BPO Hub in South Africa

     19th April 2018 Strategy Recruitment Marketing, an award winning recruitment marketing, employer branding and response management company has partnered with 4R Technologies in Cape Town, South Africa in providing a holistic end-to-end staffing solution. 4R is an analytics driven, technology enabled IT Support,... 

Sanctions fallout upends metals as aluminum, nickel burst higher

By: Bloomberg     19th April 2018 The turmoil unleashed by US sanctions against United Co. Rusal reverberated in metals markets, sending aluminium and nickel to multi-year highs. Global metals markets have been rocked for the past two weeks by the clampdown on Russia’s Rusal, which set off a rush for alternative supplies and... 

BHP cuts guidance at Olympic Dam and Pilbara iron-ore ops

By: Esmarie Swanepoel     19th April 2018 Mining giant BHP has reduced its full-year production expectations for its Pilbara iron-ore operations, as well as the Olympic Dam mine, in South Australia. The miner on Thursday reported a 6% drop in iron-ore production during the three months to March, compared with the previous quarter,... 

Rio Tinto lifts iron, bauxite and copper output, warns sanctions could impact aluminium

By: Esmarie Swanepoel     18th April 2018 Diversified giant Rio Tinto has reported production increases at its iron-ore, bauxite and copper divisions, while warning shareholders that US sanctions against Russian companies could impact aluminium production in 2018. “We delivered a solid operational performance across most commodities in... 

Russia sanctions throw aluminium supply chain into chaos

By: Bloomberg     18th April 2018 The US sanctions on United Co. Rusal that have sent aluminium prices surging should be great news for rival producers like Rio Tinto Group. Spoiler alert: they’re not. 

Rio Tinto flags changes to 2018 aluminium output after US sanctions

By: Reuters     18th April 2018 Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following US sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5% rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer... 

US Commerce Dept finds aluminium sheet imports from China subsidized – US trade group

By: Reuters     18th April 2018 The US Commerce Department on Tuesday made a preliminary determination that aluminium sheet imports from China benefit from unfair subsidies, the aluminium Association said. The Commerce Department calculated preliminary subsidy margins ranging from 31.20 to 113.30 percent of the value of the... 

Polyus says no change to business after US sanctions list

By: Reuters     17th April 2018 Polyus said on Tuesday that the inclusion on a US sanctions list of a member of the family that controls Russia's biggest gold producer would not lead to changes in the way the company conducted its business. Suleiman Kerimov was among several Russian tycoons targeted by a new list of US sanctions. 

De Beers earns $520m in third sales cycle

By: Marleny Arnoldi     17th April 2018 Diamond miner De Beers’ global sightholder and auction sales earned the company $520-million in the third sales cycle of this year.  

After setbacks, Anglo American counting on turnaround for Minas-Rio mine

By: Reuters     17th April 2018 Two leaks in a month, a 90-day outage and $58-million in fines is not enough to temper Anglo American's ambition for its long-delayed, multi-billion dollar Minas-Rio iron-ore mine in Brazil. Purchased at the height of the commodities boom a decade ago for $5.5-billion, Anglo American was once... 

Canada's Trudeau ready to offer aid to ensure pipeline is built

By: Reuters     16th April 2018 Canadian Prime Minister Justin Trudeau on Sunday moved to end an escalating crisis over a Kinder Morgan Canada oil pipeline, saying Ottawa was prepared to offer financial aid to ensure the project went ahead. Trudeau cited investor confidence as one reason to help Kinder Morgan Canada, part of... 

Gorgon Stage 2 gets approval

By: Esmarie Swanepoel     16th April 2018 The Western Australian state government has welcomed a decision by US energy major Chevron to proceed with the second stage of the Gorgon project expansion, off the coast of Western Australia. Premier Mark McGowan said Chevron's subsea development at the Gorgon natural gas project will create... 

Rio Tinto moves to comply with US sanctions, declares force majeure on Rusal contracts

By: Esmarie Swanepoel     16th April 2018 Mining major Rio Tinto will declare a force majeure on certain contracts with the world’s second-largest aluminium producer, United Company Rusal, after the US government imposed sanctions against a number of Russian businessmen and corporations. Rio told shareholders that the company had... 

Rio to call force majeure on some Rusal-linked contracts

By: Reuters     14th April 2018 Rio Tinto said it will declare force majeure on certain customer contracts after the US imposed sanctions on its partner Russian aluminium producer Rusal. The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with US sanctions. 

Gensource offtake MoUs signal supply malaise in N American potash market

By: Henry Lazenby     14th April 2018 The fact that junior Canadian start-up Gensource Potash has been able to secure two memoranda of understanding (MoUs) from separate US offtake partners that support the establishment of a new and independent supply of potash, speaks to a certain malaise in the continent’s crop nutrient market.... 

Goldman Sachs says you must own commodities in these tense times

By: Bloomberg     13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

Russia takes aim at titanium, US workers in sanctions plan

By: Bloomberg     13th April 2018 Russia outlined a broad range of potential retaliatory moves against new US sanctions, including curbs on imports of American farm products and cooperation in nuclear energy and space launches, as well as a possible ban on titanium sales to Boeing Co. The proposals, which also include a... 

Aluminium set for best week in three decades as supply woes mount

By: Bloomberg     13th April 2018 Aluminium prices are heading for the best week in at least three decades as US sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Prices of the metal climbed to the highest since 2012 Thursday, helping push this week’s gain to almost 14%, the most in... 

Newmont looks to the future in Ghana

     13th April 2018 US gold major Newmont Mining, one of the top global gold producers, expects to put up a new growth project – Ahafo North – for funding approval in 2019, according to Newmont regional senior VP for Africa Alwyn Pretorius. Ahafo North, located 50 km north of the existing Ahafo gold operations, is a... 

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