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Reuters

Vale says recent dip in global steel prices is temporary

6th December 2018 Brazil's Vale, the world's largest iron ore miner, said on Thursday a recent dip in global steel prices is temporary due to overproduction in China ahead of winter output cuts. Vale CEO Fabio Schvartsman told investors in London that global capacity utilisation in the steel sector has risen to... 

Gold-backed ETFs up on stock volatility in November

6th December 2018 Gold-backed exchange-traded funds (ETFs) registered inflows in all the world's major regions in November, as volatile stock markets fueled flight-to-safety buying, the World Gold Council said on Thursday. North American funds had inflows of $352.7-million while European funds posted inflows of... 

The $3bn map – scientists pool oceans of data to plot Earth's final frontier

6th December 2018 For experts in the field of ocean mapping it is no small irony that we know more about the surfaces of the Moon and Mars than we do about our planet's sea floor. "Can you imagine operating on the land without a map, or doing anything without a map?" asked Larry Mayer, director of the US-based... 

Vale to buy mid-sized iron miner Ferrous Resources

6th December 2018 razilian miner Vale, the world's top nickel producer, is acquiring the control of Ferrous Resources, its controlling shareholder Icahn Enterprises said in a securities filing. Ferrous, which explores iron-ore, will merge into a company controlled by Vale, the filing said, and will be valued at... 

Glass Lewis, Livermore back Paulson's Detour Gold proxy fight

6th December 2018 Independent proxy adviser Glass Lewis and hedge fund Livermore Partners on Wednesday joined activist investor Paulson & Co's call to make changes to the board of Canadian miner Detour Gold. Glass Lewis recommended replacing Detour chairman Alex Morrison and two other board members with Paulson... 

Brazil prosecutors say Petrobras received bribes from Glencore, Trafigura and Vitol

5th December 2018 Brazil prosecutors alleged on Wednesday that employees at State-owned oil company Petroleo Brasileiro received bribes from trading giants Vitol, Trafigura and Glencore in return for business. Prosecutors said the companies bribed employees at Petrobras, as the Brazilian State oil company is... 

Congo mining revenues jump 147% in first 9 months

5th December 2018 Democratic Republic of Congo (DRC) collected $1.21-billion in revenues from its mining sector over the first nine months of 2018, an increase of 147.4% over the same period last year, finance ministry data showed. Revenues from the hydrocarbons sector rose 1.4% over that same period to... 

South Africa's average port tariffs to fall 6 pct next year – regulator

5th December 2018 South Africa's Ports Regulator said its average tariffs for the 2019/20 financial year will decrease by 6.27%, although coal export charges will rise, a statement seen by Reuters on Wednesday said. The coal dry bulk export cargo dues will increase by 10% from April 1 next year to March 31 in... 

Brazil launches new mining regulator in twilight of Temer govt

5th December 2018 Brazil launched on Wednesday a new mining regulator aimed at cleaning up its slow permitting process, in an 11th-hour victory for outgoing President Michel Temer's reform agenda. The National Mining Agency (ANM) will replace the previous National Department of Mineral Production (DNPM). The... 

Miners bear brunt of risk aversion as investors take fright

5th December 2018 A two-year recovery in the mining industry has faltered, as trade tensions between China and the United States and concerns about economic growth weaken commodity prices and deter investment. Institutional investors and fund managers say tighter regulations, namely MiFID, a major reform of... 

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