R/€ = 15.59 Change: 0.14
R/$ = 13.88 Change: 0.13
Au 1426.71 $/oz Change: 22.85
Pt 847.04 $/oz Change: 8.64


Giant copper project unblocked as Peru awards Tia Maria licence

10th July 2019 Latin America’s second-largest copper producer got the green light to build a giant mine that’s key to plans to become one of the world’s top three producers of the metal. The Peruvian government awarded Southern Copper the license to start building its $1.4-billion Tia Maria project, which has... 

Eskom has yet another headache – an $813m a year carbon tax bill

10th July 2019 South Africa’s troubled state-owned power utility has yet another thing to worry about – a big carbon tax bill expected to kick in from 2023. Eskom Holdings, which has been forced to turn to the government for bailouts to meet its obligations, mostly burns coal to generate power and is one of the... 

Acacia says it's worth far more than Barrick offered

9th July 2019 Acacia Mining said it’s worth a lot more than the takeover offer proposed by Barrick Gold, showing the African gold miner is digging in its heels in a long dispute with its top shareholder. The company released a report by a consultant that put its “preferred value” at 271p a share. That’s 38%... 

Mining stocks could rebound with help from Trump and China

9th July 2019 The backdrop for miners is ready to brighten in the second half of this year. They just need a resolution of the trade war between the US and China to light a fire under their stocks. Metal prices and mining equities have been at the mercy of trade headlines all year, and business fundamentals... 

Gold sees wildest price swings since 2016

9th July 2019 The gold market is seeing the biggest price swings since late 2016 as traders and investors struggled to read when the Federal Reserve may cut interest rates. Bullion futures settled little changed in New York Monday just days after the metal surged near the highest since 2013 on bets the Fed... 

Congo’s swing producers turn to copper after cobalt meltdown

8th July 2019 Production of hand-dug cobalt in the Democratic Republic of Congo is poised to drop sharply after prices tumbled, prompting many of the country’s thousands of artisanal miners to switch focus to copper instead. Congo last year produced about 72% of the world’s cobalt, a key ingredient in the... 

Platinum giants bolster positions before wage talks begin

8th July 2019 When the world’s biggest platinum miners sit down to hammer out a wage deal with one of South Africa’s most militant labor unions this week, they’ll hold two potentially winning cards in reserve: the cash and metal stockpiles to endure a strike. Those buffers may prove crucial as Anglo American... 

The US and Europe are getting more anxious about EV battery shortages

8th July 2019 Automakers to trading houses from North America to Europe are becoming more concerned about future supply shortages of key materials needed for electric vehicle batteries as spending on new production soars, according to the developer of a $1.5-billion project in Australia. More than a dozen... 

Barrick prepares to start sale of Massawa gold project

7th July 2019 Barrick Gold is working with advisers to find a buyer for its Massawa gold project in Senegal, which it acquired as part of its purchase of Randgold Resources, people familiar with the matter said. The asset could fetch a value of about $500-million, the people said, asking not to be identified... 

Gold heads for the longest stretch of gains in eight years

5th July 2019 Gold is headed for the longest stretch of weekly gains since 2011 as investors count down to the release of a highly-anticipated US jobs report that could provide clues on the Federal Reserve’s interest rate path. Bullion’s higher for the seventh week as investors bet on looser policy from the... 


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