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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.

Anglo spinoff tackles toxic coal spill after government order

24th May 2022 Thungela Resources is working to remedy the impact of a toxic spill in February from an old coal mine in South Africa’s eastern Mpumalanga province, Chief Executive Officer July Ndlovu said. Documents released by a shareholder activist organization on Tuesday show that Thungela -- a coal spinoff... →

AMCU says wage deal agreed with Amplats

24th May 2022 Anglo American Platinum Ltd., the world’s biggest platinum miner by market value, has agreed to a new five-year wage deal, according to the Association of Mineworkers and Construction Union. The pivotal deal with the unit of Anglo American Plc could be signed this week and would be effective from... →

Chile to cushion the blow of glacier ban on giant copper mines

24th May 2022 Chile’s government is looking at a gradual implementation for a proposed ban on mining near glaciers in order to limit the impact on some of the world’s biggest copper mines and their planned projects high in the Andes. In an interview Monday, Mining Minister Marcela Hernando identified about 20... →

One mine auction draws 3 448 bids amid scramble for lithium

23rd May 2022 An auction for a controlling stake in a Chinese lithium mine has garnered 3 448 bids, underscoring the scramble to secure the battery metal that’s key to the clean-energy transition. The 54.3% stake in Yajiang Snowway Mining Development, which owns the mine in Sichuan, a southwestern province in... →

Metals traders ‘self sanction’ key Russian palladium, disrupting markets

23rd May 2022 A reluctance by precious-metals traders to handle Russian-produced palladium is creating an unusual and persistent dislocation between the world’s two main markets. In the European hubs of London and Zurich, traders can select the origin of metal they receive, while those taking delivery of a New... →

Payouts from top Russian gold miner to fund Islamic charity after sanctioned billionaire exits

20th May 2022 Russia’s top gold miner Polyus PJSC -- long controlled by the family of sanctioned billionaire Suleiman Kerimov -- will be used to fund charity work after an Islamic foundation became its biggest shareholder. Last week, Said Kerimov -- son of the billionaire first sanctioned by the US in 2018 --... →

Finnish Industry ready for end of Russian natural gas imports

20th May 2022 As Finland braces for an expected halt in natural gas flows from its top supplier Russia, some of the largest industrial users are getting ready. There’s a “real risk” the taps will be turned off as soon as Friday, according to estimates by importer Gasum Oy, which has refused to pay in rubles.... →

Arconic to Sell Russian operations, take $500m charge

20th May 2022 Arconic Corp said it will sell its Russian operations, joining the exodus of US companies after the invasion of Ukraine made doing business in the region “untenable.” The Pittsburgh-based aluminum-sheet manufacturer expects to record a charge of as much as $500-million related to the move.... →

Rich nations offer debt guarantees on South African climate deal

20th May 2022 A group of the world’s richest nations offered South Africa debt guarantees as part of a proposed $8.5-billion deal designed to cut the nation’s reliance on coal for power generation, people familiar with the talks said, potentially resolving one sticking point in the negotiations. The guarantees... →

BHP still sees room to negotiate with Samarco's creditors

20th May 2022 BHP Group is willing to protect its joint venture in Samarco Mineracao, saying it sees room to negotiate with financial creditors in the Brazil miner’s debt restructuring. “We’re absolutely committed to making sure that Samarco is reset to be the sustainable operation it always has been and... →

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