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Bloomberg

World's top platinum miners brace for ‘substantial’ wage demands

13th June 2019 South African platinum producers are preparing for significant wage demands as workers eye windfall earnings from a rally in metal prices. The Association of Mineworkers and Construction Union is meeting its members across the country’s so-called Platinum Belt this week, before presenting demands... 

Oil demand signals are flashing red as price dives toward $50

12th June 2019 Oil demand is shriveling as the trade war between the US and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from... 

Saving Earth with electric cars means wrecking a fragile desert

11th June 2019 The oases that once interrupted the dusty slopes of the Atacama desert in northern Chile allowed humans and animals to survive for thousands of years in the world’s driest climate. That was before the mining started. Sara Plaza, 67 years old, can still remember guiding her family’s sheep along... 

Montana Supreme Court will consider limiting pollution cleanup suits

11th June 2019 The US Supreme Court agreed to use a Montana case involving a BP unit to consider shielding companies from environmental cleanup lawsuits that go beyond what federal regulators have ordered. The justices will review a Montana Supreme Court decision that allowed a suit by property owners whose... 

Lithium giant Tianqi sees prices stable following 'crazy peak'

11th June 2019 Lithium prices aren’t going go back to the historic highs of recent years but won’t plummet to pre-boom levels either, according to the world’s third-largest producer of the mineral key to electric-vehicle batteries. Prices have now stabilised after miners globally boosted production capacity to... 

Kenya coal plant's power could cost ten times more, group says

11th June 2019 Electricity from a planned coal-fired plant in Lamu, Kenya might cost ten times as much as its developers suggest, according to an energy group that wants the project canceled. The plant, which will require an estimated $2-billion investment, is projected to be able to produce 1 050 MW of... 

China's grip on rare earths began with a decision 30 years ago

11th June 2019 It was Beijing’s decision almost 30 years ago to make rare earths a strategic material and ban foreigners from mining them that helped pave the way for China to elbow aside the US as the world’s leading producer. In the intervening period, as China tightened control of domestic output of rare... 

Congo State miner says it paid $263m in tax advances

10th June 2019 The Democratic Republic of Congo’s state-owned mining company rejected allegations that there are discrepancies in its financial statements, saying it paid $263-million in tax advances over a five-year period. Congo is the world’s biggest miner of cobalt, used in rechargeable batteries for... 

US tariffs will send Mexico gold, silver abroad for processing

10th June 2019 Donald Trump’s tariffs targeting Mexico risks backfiring on the US, at least in the global metals market. Miners of Mexican precious metals are unlikely to be hit significantly if Trump imposes levies on goods from its neighbour, which is the biggest source of US silver imports and its... 

Gold seen hitting six-year high as global markets outlook dims

10th June 2019 Gold is finally gaining the traction needed to boost prices to a level not seen since 2013 as concern mounts over increased trade war tensions and the global growth outlook. Bullion may touch $1 400/oz this year as investors hedge risk, according to Rhona O’Connell, head of market analysis for... 

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