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Reuters

How lithium-rich Chile botched a plan to attract battery makers

17th July 2019 In March 2018, the Chilean government unveiled big news: Corporate investors, including South Korean electronics giant Samsung, would build three factories in Chile to produce battery parts for electric vehicles. Chile had lured the companies with an enticing offer. In exchange for helping the... 

Kazakh tycoon sells Petropavlovsk stake to focus on battery minerals

16th July 2019 Kazakh entrepreneur Kenes Rakishev said on Tuesday he had sold his stake in gold miner Petropavlovsk to Russian billionaire Roman Trotsenko and would invest the proceeds in a cobalt and nickel project he aims to list in Hong Kong. Rakishev bought his shares in late 2017 when he said... 

CEZ gives European Metals funding, may partner on lithium project

16th July 2019 Czech utility CEZ will provide a two-million euro convertible loan to European Metals Holding (EMH), the companies said on Tuesday, giving CEZ a potential majority stake in the company developing a large lithium deposit in the country. The loan will mature on December 31, 2019 and carries a 7.5%... 

Canada's Belo Sun touts procedural win but Brazil gold mine still on hold

15th July 2019 Belo Sun Mining said on Friday it had won a legal victory in its push to mine the country's largest undeveloped gold deposit in the Amazon rainforest, which has drawn criticism from environmentalists and indigenous advocates. But the public prosecutor's office that is seeking to block the mine... 

IEA sees oil market oversupplied in 2019 on US production

12th July 2019 Surging US oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said on Friday. The forecasts appear to predict the need for producer club Opec and its allies to reduce production to balance... 

South Africa's manufacturing, mining subdued as growth burden shifts to central bank

11th July 2019 South Africa's manufacturing output grew only slightly in May while the slump in mining continued, albeit more moderately, shifting attention back onto the central bank to stimulate growth in an economy bleeding jobs. Factory output rose 1% year-on-year in May while mining production fell 1.5%... 

Shrinking demand to eclipse supply issues in tin market

11th July 2019 The tin market is under greater pressure from an economic slowdown and falling demand than supply issues, where lower production from countries such as Myanmar is likely to be offset by a new project in central Africa. Tin prices on the London Metal Exchange at around $18 000 a tonne are down 15%... 

Czech PPF Group sells 4.5% stake in Russia's Polymetal

10th July 2019 PPF Group, owned by the Czech Republic's richest businessman Petr Kellner, has sold a 4.5% stake in Russian gold and silver producer Polymetal, a bookrunner for the deal said on Wednesday. PPF Group, which now owns 6.5% in the Russian company, sold about 21-million shares in Polymetal at a... 

Brazil court convicts Vale for damages caused by deadly dam rupture

10th July 2019 A Brazilian state judge on Tuesday convicted mining company Vale for damages caused by the deadly rupture of a tailings dam in January that killed at least 240 people. Judge Elton Pupo Nogueira ruled that Vale is responsible for fixing all the damages, although he did not set a monetary value... 

Platinum firms kick off wage talks

10th July 2019 The world's top platinum miners kicked off talks with South Africa's unions on Tuesday in what is expected to be a tough round of wage talks, as a rise in profits is likely to provoke higher wage demands. The majority union in the platinum sector, the Association of Mineworkers and Construction... 

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