R/€ = 16.90 Change: -0.08
R/$ = 14.39 Change: -0.07
Au 1198.81 $/oz Change: -9.41
Pt 827.00 $/oz Change: -9.99


US gives rare earths reprieve in revised $200bn China tariff list

18th September 2018 The United States did not include rare earth elements, metals used in magnets, radars and consumer electronics, from its final list of tariffs on $200-billion of Chinese goods, underscoring its reliance on China for the strategic minerals. China is the world's largest producer of rare earths and... 

Tahoe Resources' Guatemalan unit announces new round of layoffs

18th September 2018 The Guatemalan unit of US miner Tahoe Resources laid off an additional 169 workers on Monday, two weeks after the country's top court kept in place a more than 14-month suspension of operations at the company's Escobal silver mine. The layoffs at Minera San Rafael, Tahoe's local unit, now total... 

Petra says owed $25m in VAT refunds by Tanzania

17th September 2018 Petra Diamonds is owed about $25-million in value added tax (VAT) refunds by Tanzania, its chief executive said on Monday. "We are not getting paid at the moment. The historical figure owed is $16-million," CE Johan Dippenaar told Reuters in an interview, adding that current VAT is an additional... 

South Africa not planning mass layoffs in public sector to fight recession - Ramaphosa

17th September 2018 President Cyril Ramaphosa said on Monday there would be no mass layoffs of public sector workers as his government considers various ways to pull the economy out of a recession that has rattled the rand and investor confidence. The economy slipped into recession in the second quarter for the... 

Jaguar Land Rover to cut output at UK car plant after warnings on Brexit, diesel

17th September 2018 Britain's biggest carmaker Jaguar Land Rover said it will go down to a three-day week at its Castle Bromwich plant in central England just days after its boss warned about the impact of Brexit and diesel policy. The Castle Bromwich facility will operate a three-day week from October until the... 

Russian giant copper project aims to raise $1.25bn in 2018

17th September 2018 Baikal Mining Company, operator of Russia's biggest untapped copper deposit Udokan, plans to raise $1.25-billion in project financing from a Russian bank by the start of 2019, its chairperson Valery Kazikayev told Reuters. Spurred by high global appetite for cooper, which many expect to be in... 

Philippine President repeats desire to 'close all mining' after landslides

17th September 2018 Philippine President Rodrigo Duterte on Monday repeated his desire to shut all mines in the country following deadly landslides that some government officials and large miners said have been exacerbated by illegal small-scale mining. "If I were to try to do my thing I will close all mining in... 

Egypt signs oil, gas exploration deal with Shell, Petronas worth about $1bn – statement

17th September 2018 Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Malaysia's Petronas worth around $1-billion for 8 wells in the country's West Nile Delta, the petroleum ministry said on Saturday. The country also signed a second $10-million deal with Rockhopper, Kuwait Energy... 

Eskom has coal shortages at ten power plants – spokesperson

17th September 2018 South African power utility Eskom said on Monday that it had fewer than 20 days of coal supplies at 10 of its 15 coal-fired power stations, posing a threat to national power supplies. A company spokesman said a major supplier, owned by the Gupta family, had cut supplies as it seeks insolvency... 

Nexa says to invest $1.17bn in Peru, Brazil in five years

17th September 2018 Brazilian mining company Nexa Resources plans to invest some $1.17-billion in copper and zinc projects in Peru and Brazil over the next five years, the company's general manager Ricardo Porta said on Friday. About $816-million will be invested in Peru, including $555-million in copper projects... 


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