R/€ = 16.08 Change: -0.03
R/$ = 14.13 Change: -0.01
Au 1244.63 $/oz Change: 0.56
Pt 800.61 $/oz Change: 15.05


Egypt aims to kickstart African trade as it takes AU chair

10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... 

GFG Alliance to build 10mt/y steel plant in South Australia

10th December 2018 GFG Alliance said on Monday it would build a 10-million tonne-per-year (tpy) steel plant in the state of South Australia that would likely be funded in part by government subsidies. The new mill, relying on infrastructure from a bankrupt plant in the town of Whyalla, will focus on the production... 

Tesla lithium supplier Kidman settles ownership row over Australian mine

10th December 2018 Kidman Resources, a supplier of lithium to US electric car maker Tesla said on Monday it had settled a court dispute that could have derailed joint development of a mine in Western Australian with Chile's SQM. In a statement announcing the settlement, Kidman did not specify terms. Court... 

South Africa axes state nuclear firm Necsa's board

7th December 2018 South African Energy Minister Jeff Radebe said on Friday that the government had replaced the entire board of directors of State-run nuclear firm Necsa and suspended its chief executive over problems with how it was governed. The previous Necsa board included prominent backers of plans to expand... 

Tullow oil seeking partners in bid for additional Ghana block

7th December 2018 UK oil explorer Tullow Oil is seeking partners in a bid to acquire a new oil block in Ghana which launched its first oil bidding round in October, the company's MD Kweku Awotwi said on Thursday. Tullow is already lead operator of two oil fields in Ghana including its flagship offshore Jubilee... 

Malaysian uncertainties complicate Aussie miner Lynas' growth plans

7th December 2018 Uncertainties surrounding Australian rare earths miner Lynas Corporation's future in Malaysia have hampered efforts to plan expansion, its chief executive said. Amanda Lacaze said Lynas has been weighing options to grow its business, which would likely mean expanding beyond its current... 

Codelco agrees contract with Gabriela Mistral mine workers

7th December 2018 Chile's state copper miner Codelco said on Thursday it had reached agreement on a new collective labor contract in early negotiations with the union of workers at its Gabriela Mistral mine in northern Chile. The 36-month contract included a signing bonus of 4.2-million pesos and a 2-million peso... 

EU's largest coking coal producer seeks growth through acquisitions

7th December 2018 The European Union's largest coking coal producer JSW could increase output by between 2.5- and 3-million tonnes per year by acquiring assets, far exceeding its current plan to grow production to 18-million tonnes by 2030 from roughly 15-million now. Poland's ambitions to invest in coal have... 

Barrick Gold to sell assets, reduce head-office management - WSJ

6th December 2018 Barrick Gold Corp will sell a research and development company it owns and reduce its technology staff, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The gold miner expects to close its Randgold Resources purchase January 1, and incoming CEO Mark Bristow... 

Venezuela signs oil, gold investment deals with Russia -Maduro

6th December 2018 Venezuela has signed deals securing investment from Russia in the South American country's oil and gold sectors, President Nicolas Maduro said on Thursday at the end of a three-day trip to Moscow. "We have signed contracts to guarantee investments of more than $5-billion with our Russian... 


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