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Bloomberg

After two tumultuous decades, Congo gold miner is back from the brink

4th July 2019 In the past 23 years, Banro Corp had its Democratic Republic of Congo gold assets seized, got them back, built two mines, closed one after attacks by militants and sought bankruptcy protection. Now, controlled by its former creditors, the company has a plan to make another go of it. Banro will... 

Trump warns Iran after Rouhani threat to enrich more uranium

3rd July 2019 President Donald Trump warned Iran Wednesday against stepping up uranium enrichment, the latest escalation of the conflict over the Islamic Republic’s nuclear program that has plunged the Gulf into renewed uncertainty. “Rouhani says that they will Enrich Uranium to ‘any amount we want’ if there... 

34 trapped workers at Nutrien potash mine rescued

3rd July 2019 All 34 workers that had been trapped underground at Nutrien’s Cory potash mine in Saskatchewan since Tuesday afternoon have been rescued. “All 34 employees have been safely brought to the surface at our Cory Potash site,” Will Tigley, a spokesperson for the world’s largest crop-nutrient supplier,... 

German lender pulls out of coal as Merkel vows greener finance

3rd July 2019 Germany’s KfW Group is pulling out of loans for new coal projects, joining other European development banks that have already followed orders of their governments to minimise exposure to the world’s most widely used power-station fuel. KfW will no longer finance the exploration or mining of coal... 

Europe thinks like China in building its own battery industry

3rd July 2019 The European Union is starting to act like China when it comes to building the batteries that will drive the next generation of cars and trucks. In the past few months, government officials led by European Commission VP Maros Sefcovic have joined with manufacturers, development banks and... 

Gold's rally gets booster shot as Trump picks doves for the Fed

3rd July 2019 Gold resumed its rally above $1 400/oz on a cocktail of positive drivers, with weak data feeding expectations for fresh easing from central banks, Treasury yields hitting a two-year low, and the US President seeking to reshape the Federal Reserve board with two picks seen as doves. Bullion... 

By the numbers: Congo’s deadly struggle with illegal mining

3rd July 2019 A deadly landslide and troop deployments at two giant mines in the Democratic Republic of Congo highlight how authorities are struggling to cope with citizens’ efforts to share in the country’s immense mineral wealth. The events at Glencore and China Molybdenum’s operations are the latest... 

Vale CFO should face criminal indictment for dam, panel says

2nd July 2019 A Brazilian Senate committee is expected to recommend that 12 current and former executives of Vale , including CFO Luciano Siani and former CEO Fabio Schvartsman, face criminal indictments for a fatal dam disaster in January. The rapporteur of the committee proposed the indictments Tuesday after... 

Oil plunges in worst reaction to Opec since 2014 on demand woes

2nd July 2019 Oil had its worst reaction to an Opec meeting in more than four years, with prices sliding just after the cartel agreed to prolong production curbs as fears about the global economy mount. Futures closed down 4.8% in New York, the steepest decline since May 31 and the biggest drop after an Opec... 

Tin slumps most in seven years on spike in Chinese selling

2nd July 2019 Tin plunged the most in more than seven years in London following a wave of selling from China’s onshore metals market, where sentiment has soured as investors focus on signs of economic weakness. The metal, which is mostly used in soldering, dropped 6.3% to settle at $17 700 a metric ton on the... 

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