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Bloomberg

Don't be in a rush to do business in world's top cobalt producer

18th June 2019 When a foreign investor with multimillion-dollar projects across Africa was told the president of the Democratic Republic of Congo wanted to see him, he booked a suite at one of the country’s top hotels. After six days of waiting, he left. Since Felix Tshisekedi took the helm of the world’s... 

Virginia uranium-mining ban upheld by US Supreme Court

17th June 2019 The US Supreme Court upheld a Virginia law that bans mining at the nation’s largest known uranium deposit, rejecting a challenge pressed by the owners of the property with help from the Trump administration. Voting 6-3, the justices said Virginia’s uranium-mining ban is in accord with a 1954... 

Congo State miner's high-flying chief has his wings clipped

14th June 2019 The head of the Democratic Republic of Congo’s State mining company will no longer exercise control over the business, despite being reappointed to the post, the president’s spokesperson has said. Albert Yuma, who was named president of Gecamines’s board in 2010, retained the position in a May 29... 

Vale says hopes to reach dam burst global settlements by year-end

14th June 2019 Brazil's Vale said on Thursday that it expects to reach global settlements covering economic and environmental damages from the January collapse of its Brumadinho tailings dam by late this year or in 2020. Vale is scrambling to deal with the fallout from the disaster, which killed at least 246... 

Gold busts above $1 350 as Iran tension, fed outlook spur demand

14th June 2019 Gold smashed above $1 350/oz to a 14-month high as rising geopolitical tensions bolster haven demand ahead of next week’s Federal Reserve meeting, when policy makers may move closer to cutting rates. Bullion for immediate delivery rose as much as 1.2% to $1 358.26/oz. Prices are set for a fourth... 

Oil set for weekly drop as tanker attacks can't dispel trade woes

14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Iron-ore, gold surge propel South African miners to 11-year high

13th June 2019 The twin tailwinds of rallying iron-ore prices and gold’s haven appeal have driven South African mining stocks to an almost 11-year high. Johannesburg’s FTSE/JSE Africa Mining Index gained as much as 2% Thursday to the highest since July 2008. Anglo American, BHP Group and AngloGold Ashanti have... 

Pot takes the spotlight away from lithium and threatens the EV boom

13th June 2019 Lithium miners are seeing investor interest go up in smoke. The flow of capital into the cannabis industry is draining investments into lithium producers that supply the raw mineral key to power the electric-vehicle revolution 

Romania offers rare earths to enter lucrative battery market

13th June 2019 Romania is reopening mines for rare earth minerals to lure investments in electric battery plants, joining a Europe-wide initiative that aims for a bigger share of the global market. The government is renewing operations at three mines that produce rare metals, including europium and dysprosium,... 

World's top platinum miners brace for ‘substantial’ wage demands

13th June 2019 South African platinum producers are preparing for significant wage demands as workers eye windfall earnings from a rally in metal prices. The Association of Mineworkers and Construction Union is meeting its members across the country’s so-called Platinum Belt this week, before presenting demands... 

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