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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

Biden won’t ban fracking, but his clean grid would choke gas

19th October 2020 During a town hall meeting Thursday, Democratic presidential nominee Joe Biden again assured shale producers that he wouldn’t ban fracking if elected. Then, in virtually the same breath, he touted his $2-trillion clean-energy plan, which aims to edge natural gas out of the power mix within 15... 

Rio’s CEO says miner made key changes since heritage blasts

16th October 2020 Rio Tinto Group has made key changes to its cultural heritage management since the May explosions that damaged two Aboriginal Australian sites, outgoing CEO Jean-Sebastien Jacques told a Parliamentary hearing Friday. The miner is modernizing agreements with traditional landowners, won’t enforce... 

Barrick deal, smuggling crackdown revive Tanzania gold industry

15th October 2020 Tanzania’s gold-mining industry is showing signs of a renaissance following a crackdown on smuggling and the settlement of a long-running dispute with Barrick Gold. Gold has overtaken tourism as the East African nation’s biggest foreign-exchange earner, while Barrick’s joint venture with the... 

Northam weighs buyout of black investors’ $1.8bn stake

14th October 2020 Northam Platinum is considering buying out some of its biggest shareholders to curb future liabilities, boosting the wealth of three of South Africa’s most prominent Black businessmen, according to people familiar with the matter. If implemented, the acquisition will benefit Lazarus Zim, Sipho... 

India says slump in diamond exports is much worse than 2008

14th October 2020 Diamond exports from India are set to tumble by as much as a quarter this year as the pandemic crushes demand and breaks supply chains. Overseas sales of cut and polished diamonds may slump 20% to 25% in the year ending March from $18.66-billion last year, according to Colin Shah, chairman of... 

Caledonia mulls listing on new Zimbabwe stock exchange

14th October 2020 Caledonia Mining Corp is considering listing on Zimbabwe’s new stock exchange, ten days before trading on the bourse is scheduled to start. The exchange, known as VFEX, will be based in the resort town of Victoria Falls and will trade in dollars exclusively as the government seeks to lure... 

Tanzania to get $40m payment from Barrick Gold on Oct 13

12th October 2020 Tanzania will receive about $40-million from Barrick Gold Corp on October 13 as part of a payment settlement with the company. President John Magufuli will oversee the event, the ruling CCM party said in a statement. It’s part of the $300-million settlement between Tanzania and Barrick Gold to... 

China bans Australian coal imports as political relations sour

12th October 2020 China has suspended purchases of Australian coal, according to people familiar with the order, as Beijing continues to tightly control imports of the fuel amid soured political relations with Canberra. Chinese power stations and steel mills have been verbally told to immediately stop using... 

Chile has a calming message for car makers worried about lithium supplies

12th October 2020 The nation sitting on half the world’s lithium reserves has a calming message for electric car makers: tougher environmental oversight won’t threaten future production of the metal used to make batteries. Chile’s environmental regulator is working with other agencies to devise a plan for... 

Battery maker EVE Energy may buy more lithium, cobalt before prices lift

12th October 2020 EVE Energy Co, a Chinese producer of lithium-ion batteries for electric cars to earphones, is considering plans to step up purchases of key metals amid signs prices could soon rise from recent lows. Huizhou, Guangdong-based EVE, which has pacts with automakers including Daimler, has seen... 

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