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Reuters

Zimbabwe platinum mines to ride out power cuts, gold output less secure

15th May 2019 Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts... 

Lonmin likely to cut fewer jobs due to revenue boost – CEO

15th May 2019 Lonmin will delay or reduce the number of jobs it had planned to cut in South Africa as soaring palladium prices have boosted revenue, its chief executive said, ahead of a takeover by Sibanye-Stillwater. Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the... 

Over 40% of minority shareholders of Turquoise Hill oppose independent directors

14th May 2019 A large proportion of the minority shareholders in Rio Tinto Plc-controlled Turquoise Hill Resources voted against the re-election of the company's independent directors on Tuesday. While all seven directors were re-elected to the board, according to a Turquoise Hill filing, over 40% of... 

Barrick Gold prepping sale of Zambian copper mine in H2 – sources

14th May 2019 Barrick Gold, the world's second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Fresh from two major deals in recent months, Barrick has said it plans to... 

Polyus capex to accelerate in second and third quarters

14th May 2019 Russia's largest gold producer Polyus said on Tuesday it plans to materially accelerate capital expenditure in the second and third quarters of the year, without exceeding the $725-million it expects to spend in the year as a whole. "We still expect to spend $725-million across all or business... 

Vale says may expand Carajas Serra Sul mine, doubling output

14th May 2019 Brazilian miner Valesaid on Tuesday it is considering doubling the output of its Carajas Serra Sul iron-ore mine in the northern part of the country after 2020, saying the move would allow it to cut the use of tailings dams. One such dam, used to store the muddy, toxic mining debris, collapsed... 

US faces hurdles in push to build electric vehicle supply chain

14th May 2019 The United States faces stiff challenges as it moves to create its own electric vehicle supply chain, industry analysts say, with the extent of the country's metal reserves largely unknown and only a few facilities to process minerals and produce batteries. Legislation making its way through the... 

BHP to keep Nickel West, Rio looks to Serbian lithium deposit for battery boom

14th May 2019 Global miner BHP will hold on to the Australian nickel operations it previously put up for sale, while Rio Tinto is working on copper and lithium projects as the mining industry bets on demand for electric vehicle (EV) batteries. The biggest mining companies say they are well positioned to... 

Zimbabwe starts rolling power cuts, hitting mines, industry

13th May 2019 Zimbabwe has started rolling power cuts lasting up to eight hours that will also hit mines, a schedule from the State power utility showed on Monday, after reduced output at both the largest hydropower plant and ageing coal-fired generators. The power cuts will add to mounting public anger... 

Palladium's price gap over platinum needs to shrink – Nornickel

13th May 2019 The price gap between palladium and its sister metal platinum needs to shrink as number one platinum producer South Africa requires a higher price for the metal to keep investing in new supply, Russia's Norilsk Nickel said. Norilsk is the number one producer of palladium, accounting for more than... 

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