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Bloomberg

Alcoa’s workers accept offer, ‘exhausted’ from 18-month dispute

2nd July 2019 An 18-month labour dispute at an aluminum smelter in Quebec controlled by Alcoa Corporation ended after workers accepted a deal, defying the recommendation of their union’s leadership. On Tuesday, about 80% of workers at the Becancour plant voted to ratify the offer after a meeting of the United... 

Police swarm gold rush mountain as Ecuador declares emergency

2nd July 2019 Before dawn Tuesday, troops escorted more than 1 000 police officers to seize a remote mountain at the center of a gold rush at illegal mines in Ecuador’s northern Andes. As many as 10 000 people flooded the remote region known as Buenos Aires over the last two years, to illegally mine gold owned... 

Alaskan gold mine gets boost as Trump’s EPA intervenes on permit

2nd July 2019 The Environmental Protection Agency on Monday moved to ensure it has a role negotiating the terms of any permit for the massive Pebble Mine planned near Alaska’s Bristol Bay, a move that may bolster the permit’s chances of approval. The EPA’s action comes as the US Army Corps of Engineers... 

South African platinum mine wage negotiations to start next week

2nd July 2019 South Africa’s largest platinum-mining labour union said it would meet the nation’s top three producers on successive days next week as it starts formal negotiations for a three-year wage deal. The Association of Mineworkers and Construction Union (AMCU) plans to meet Anglo American Platinum on... 

Good news for Eskom – World Bank says South Africa will save it

2nd July 2019 The risk of South Africa’s struggling state power utility going bust doesn’t appear to faze one of its biggest creditors – the World Bank. The Washington-based lender agreed to lend Eskom Holdings $4-billion almost a decade ago to boost its generation capacity and avoid a repetition of rolling... 

Gold resumes trek higher as weak economic data point to stimulus

2nd July 2019 Gold rebounded from its biggest decline in more than two years on signs of fresh strains on the global economy. Prices rose after factory activity across Asia and Europe shrank in June, while the US showed only meager growth, according to purchasing managers’ indexes. This signaled a worsening... 

Chubb ceases new coal-plant business to fight climate change

1st July 2019 Chubb said it will stop underwriting the construction or operation of new coal-fired plants to fight climate change. The insurer will also stop underwriting or making new debt or equity investments in companies that derive more than 30% of their revenue from coal-mining or energy production from... 

Gold sinks most in a year as trade truce deals blow to bulls

1st July 2019 Gold opened the third quarter with a slump back below $1 400/oz after the US and China agreed to a truce in their trade war, dealing a blow for now to havens that were bolstered in recent months by the long-running tensions as well as prospects for looser monetary policy. Prices fell after Donald... 

Opec+ is close to finalising a charter for long-term cooperation

30th June 2019 Opec+ nations are close to finalizing a “charter” for a long-term alliance, with a document likely to be signed as soon as this week, said two delegates. Members of the group received a revised draft of the document on Sunday that appeared to have broad support, one of the delegates said, asking... 

DRC says it will remove illegal miners from Glencore site

30th June 2019 Illegal miners will be removed from the site of a Glencore project in the Democratic Republic of Congo where at least 43 died this week, Interior Minister Basile Olongo told reporters from the mine on Saturday. “From tomorrow, if you come back here, you won’t see any more thieves”, he said from... 

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