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Peabody starts reventilating North Goonyella with aim of resuming production next year

By: Creamer Media Reporter      24th May 2019 Coal miner Peabody has taken the first step to resuming operations at the fire-hit North Goonyella mine in Queensland, Australia, with an announcement on Friday that it is proceeding with the ventilation of the first segment of the coal mine. This forms part of a phased reventilation and... 

Muted Chinese stainless steel production, trade dispute results in nickel price dip

By: Marleny Arnoldi     24th May 2019 Fitch Solutions Macro Research has revised its nickel price forecast for this year down to $13 250/t, compared with its previous forecast of $14 500/t, as prices have headed lower in recent weeks. The nickel price has dropped by 9% to $12 010/t in mid-May, compared with $13 100 in mid-April.  

India to surpass China as largest importer of coking coal by 2025

By: Marleny Arnoldi     23rd May 2019 Fitch Solutions maintains its forecast for an average coking coal price of $195/t for this year, stating that prices will remain elevated, with strong demand from China’s steel sector, as US–China relations continue to deteriorate and the probability rises of further economic support from the... 

Gold miners must focus on returns, mergers to attract investment - Barrick CEO

By: Reuters     22nd May 2019 Gold miners must focus on maximising returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday. "The industry is in decline and we have put ourselves in a very a tight spot because we haven't... 

Young consumers, self-buying to boost platinum jewellery demand

By: Tasneem Bulbulia     22nd May 2019 Young consumers, men’s jewellery and female self-purchasing will build on platinum’s entrenched standing in bridal jewellery to drive future demand, Platinum Guild International (PGI) reports. The guild’s yearly ‘Platinum Jewellery Business Review’ surveys over 1 000 manufacturers and retailers,... 

LSE says, hello, Africa! Come list with us

By: Bloomberg     22nd May 2019 It’s not often that the LSE comes to Africa looking for listings. Traditionally companies based on the continent have to make a strong case to have their stock traded on one the world’s biggest bourses. But this week, officials are on roadshow in a bid to boost the LSE’s 115 African listings. The... 

Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn 

By: Terence Creamer     22nd May 2019 Energy and chemicals group Sasol, which announced another large increase in the capital cost of its Lake Charles Chemicals Project (LCCP) being built in the US, will accelerate its $2-billion noncore asset disposal programme and will used the proceeds to deleverage its balance sheet. Joint... 

Hudbay is said to prepare sale of Arizona copper mine stake

By: Bloomberg     22nd May 2019 Hudbay Minerals is preparing a sale of a stake in one of the largest copper mines under development in the US as an investor pushes the company to review its portfolio, people familiar with the matter said. The Toronto-based base metals miner has interviewed potential advisers about selling a... 

Lynas to set up plant in WA as it abandons plans for Malaysia facility

By: Esmarie Iannucci     21st May 2019 Rare earths miner Lynas on Tuesday told shareholders that it would relocate a planned processing facility from its Kuantan operations in Malaysia, to its operations in Western Australia. Speaking at an investor conference, CEO and MD Amanda Lacaze noted that the cracking and leaching facility... 

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

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