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Bloomberg

Eskom's gain South Africa's pain as investors balk at debt

24th June 2019 President Cyril Ramaphosa’s latest pledge to support Eskom Holdings is good news for the cash-strapped electricity company -- but some investors are balking at the prospect of increased sovereign-bond issuance to pay for the bailout. Ramaphosa told lawmakers last week South Africa would bring... 

Gold gains to near highest since 2013 as bulls ‘back in control’

24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

RWE reviews mine protest damage, says power plants not at risk

23rd June 2019 erman utility RWE AG is reviewing damage done by environmental campaigners who accessed the company’s Garzweiler openpit mine in Germany’s Rhineland on Saturday. There were five arson attacks on pump stations and electricity transformers amid the protests, company spokeswoman Stephanie Schunck... 

Rio and ArcelorMittal tell different sides of iron-ore story

21st June 2019 In the world of metals and mining, sometimes it’s better to sell the raw product rather than the finished one. This seems to be a lesson for investors who chose to hold shares in ArcelorMittal rather than Rio Tinto Group this year. Despite nagging trade tensions and fears about global growth,... 

Ramaphosa's old union seeks South African platinum mine comeback

21st June 2019 The National Union of Mineworkers (NUM), which dominated organised labour across South Africa’s platinum belt until the massacre at Lonmin’s Marikana mine in 2012, is plotting a comeback. By the end of this year, the union wants to represent 30% of the more than 167 000 workers at the world’s... 

Nation built on gold loses its African crown to rival Ghana

21st June 2019 South Africa’s struggling gold industry has suffered yet another humiliation, losing its status as continent leader to Ghana. The country that led global gold production for a century and extracted about half the bullion mined to date is now Africa’s second-largest gold producer. Output is... 

Gold seen hitting six year high as global markets outlook dims

21st 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... 

Trump weighs limits on uranium imports after Commerce cites security risk

20th June 2019 The US Commerce Department has recommended the White House take steps to protect the domestic production of uranium after finding the nation’s reliance on imports was a national security risk, said three people briefed on the matter. Among the trade remedies recommended is to require nuclear... 

China National Gold studies bid for Canadian miner Iamgold

20th June 2019 China National Gold Group, the nation’s second-biggest miner of the metal, is studying a bid for a stake in Canada’s Iamgold, people familiar with the matter said. Iamgold shares jumped the most in more than four years. The state-owned gold miner is working with financial advisers on the... 

Rio Tinto renews work on giant Guinea iron-ore deposit

20th June 2019 Rio Tinto Group is looking at new ways to develop the giant Simandou iron-ore deposit in Guinea that it almost sold last year, according to people familiar with the matter. Simandou is one of the world’s biggest untapped mineral deposits, but has a controversial past. For more than a decade, it... 

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