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Reuters

Iamgold CEO expects more buyout deals in gold industry

2nd May 2019 The gold industry is likely to see an increase in buyout deals in the near future as miners fight to attract a shrinking pool of investment capital, the chief executive of Canada's Iamgold said on Wednesday. The industry's buyout frenzy was sparked earlier this year when Barrick Gold and... 

Vale minority shareholders elect independent member to board

1st May 2019 Minority shareholders of Brazilian iron ore miner Vale SA succeeded in electing a representative to the board of directors at the company's shareholder meeting on Tuesday, a person who attended the meeting told Reuters. Independent member Patricia Bentes was elected under a new cumulative voting... 

Royalties for lithium to be set case by case in Chile – Minister

30th April 2019 Chile's mining minister Baldo Prokurica said royalties for the ultralight battery metal lithium would be set on a "case-by-case" basis from now on, using a negotiation model similar to that used with top producers in Chile's Atacama salt flat. State development agency Corfo struck deals with top... 

Societe Generale resigns as London gold and silver market maker

30th April 2019 The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business. SocGen said this month it would cut 1 600 jobs to boost profits after poor performance... 

Vale board confirms interim head Bartolomeo as CEO

30th April 2019 Brazilian miner Vale, the biggest iron-ore producer, announced on Monday that its board has confirmed Eduardo Bartolomeo as the company's CE. Bartolomeo took over as interim head of Vale two months ago when his predecessor Fabio Schvartsman resigned after one of the company's mining dams burst in... 

Russia's Rusal first-quarter value-added product sales down 44% on US sanctions

30th April 2019 Russian aluminium producer United Company Rusal has reduced its first-quarter sales of value added products (VAP) by 44% from a year ago and by 22% from the last quarter of 2018 because of sanctions by the US. Washington imposed the sanctions on Rusal, the world's largest aluminium producer... 

Epiroc shares drop as mining gear orders disappoint

30th April 2019 Sweden's Epiroc said on Tuesday it expected current levels of demand to prevail in the near term after it reported lower than expected quarterly mining equipment orders, sending its shares lower. Epiroc, which competes against Sweden's Sandvik and Finland's Metso, said its order intake inched up... 

Southern Copper says first-quarter net profit drops 17.5%

29th April 2019 Southern Copper Corp's net profit fell 17.5% to $388.2-million in the first quarter from the same period a year earlier, as lower metal prices weighed on sales, the company said on Monday. The company's copper production rose 11.6% year-on-year in the Jan-March period, but net sales slipped 4.8%,... 

Guinea boosts power output to foster bauxite refining

29th April 2019 Guinea expects to boost its energy production capacity by nearly four-fold over the next six years as it pushes mining companies to refine their bauxite output locally, the energy minister said on Friday. The West African nation, Africa's biggest producer of the aluminium ore, is in the midst of... 

Australia's Mt Isa zinc railway reopens to freight after February floods

29th April 2019 A railway that carries zinc from major producers such as Glencore across Australia's outback has reopened to freight trains, the line's owner Queensland Rail said on Monday. The 1, 00-km (620-mile) rail line was cut by floods in February and is used by miners including Glencore, MMG Ltd and... 

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