R/€ = 16.11 Change: -0.10
R/$ = 14.43 Change: -0.18
Au 1276.76 $/oz Change: 3.15
Pt 885.21 $/oz Change: -10.67


Brazilian miner Vale files $2bn lawsuit over Guinea project

By: Reuters     Updated 3 hours ago Brazilian miner Vale said on Wednesday it has filed a lawsuit in the United States to force BSG Resources (BSGR) to pay it about $1.25-billion, as mandated by an arbitrator in a dispute over a joint venture in Guinea, plus interest and expenses. Earlier this month, Vale said an arbitration court... 

Antofagasta copper output rises as China fears threaten demand

By: Reuters     24th April 2019 Chile-focused copper miner Antofagasta posted a 22.6% jump in first-quarter copper production and maintained its full-year output outlook, despite the possibility that China may ease stimulus measures which could hurt prices. Antofagasta said on Wednesday production in the quarter was bolstered... 

Polyus reports strong first quarter

By: Creamer Media Reporter      23rd April 2019 Russian gold miner Polyus produced 600 700 oz of gold in the first quarter of 2019, which is 19% more than what the company produced in the same period a year earlier. Compared with the fourth quarter of 2018, total output was down 6%, and the London-listed gold miner explained on Tuesday that... 

Anglo steps up defense to repel Agarwal's interest – Telegraph 

By: Bloomberg     23rd April 2019 Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he... 

LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Mick Davis moves closer to iron-ore mining with Liberian deal  

By: Bloomberg     18th April 2019 Mining dealmaker Mick Davis has won permission to export iron-ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback. Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron-ore... 

Polymetal listed on Kazakh AIX bourse

By: Reuters     17th April 2019 Shares in Russian gold and silver producer Polymetal have been listed on Kazakhstan's Astana International Exchange (AIX), the bourse said on Wednesday. Polymetal's main listing is in London and the company has a market capitalisation of $5-billion. One of Polymetal's projects is the Kyzyl mine... 

Petra Diamonds' new CEO to work on strategy, seeks stability first 

By: Reuters     15th April 2019 African miner Petra Diamonds, which has high debt levels, aims to be cash flow positive in the second half of the year and will then be able to consider future developments, its new chief executive said on Monday. The company's share price has fallen 55% since the start of the year as weak... 

Silver consumption at three-year high

By: Reuters     12th April 2019 Global silver demand rose 4% last year, chalking up its first increase since 2015, thanks to sharply higher consumption in India, with a supply fall creating a small deficit, an industry report said on Thursday. The world consumed 1 033.5-million ounces in 2018, up from 998.4-million ounces... 

Platinum edges out of the doldrums at last as labour threat looms

By: Bloomberg     12th April 2019 After months of being ignored in favor of market darling palladium, platinum is finally getting some attention from investors. The metal, which is mostly used to make jewelry and reduce emissions from car exhausts, is trading near the highest since May and money is pouring into platinum-backed... 

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