R/€ = 15.48 Change: 0.02
R/$ = 13.24 Change: 0.03
Au 1243.50 $/oz Change: 1.94
Pt 831.50 $/oz Change: -0.93


India's June gold imports drop by a quarter as rupee hits record low

6th July 2018 India's gold imports fell for a sixth month in June to 44 t as a drop in the rupee to record lows lifted local prices to a near 21-month high, curtailing demand, provisional data from GFMS analysts at Thomson Reuters and bank dealers showed. The 25% year-on-year drop in purchases by the world's... 

Eskom ups pay rise offer to 6.7%, NUM says ready to strike

6th July 2018 South Africa's State-run power utility Eskom has raised its latest pay rise offer to 6.7% from around 6% to three unions it is in negotiations with, a source with the National Union of Mineworkers (NUM) said on Friday. The NUM source earlier said its members were demanding as much as 12% but... 

Japan's Mitsui may raise its stake in Vale – executive

6th July 2018 Japanese trading house Mitsui & Co may boost its stake in Brazil's Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant's management. Several Brazilian pension funds and BNDESPar, the investment arm of state... 

BHP, workers at Escondida mine in Chile 'far from agreement'

6th July 2018 Negotiations between workers and BHP Billiton at the Escondida copper mine in Chile, the world's largest, are "far from reaching agreement" with less than three weeks to go before the negotiation deadline, a union official told Reuters on Thursday. The official, Carlos Allendes, said the union... 

Eramet searches for lithium deposits in Chile, Argentina, Brazil - CEO

5th July 2018 French miner Eramet SA is looking to acquire lithium deposits in Chile, Argentina and Brazil to expand its portfolio into the minerals used in batteries for electric vehicles, its chief executive said on Thursday. "Our priority is to develop our existing lithium deposit in Argentina. But we are... 

UK to invest £420m to lift construction productivity

5th July 2018 Britain's government announced what it said was the largest investment in at least a decade to speed up home-building on Thursday, which will see £420-million ($556-million) of public and private money spent on new construction technology. Building more housing has been one of Prime Minister... 

Kenya to use Alphabet's balloons for rural Internet

5th July 2018 Kenya will use Alphabet Inc's system of balloons to beam high-speed Internet access in hopes of connecting more of its rural population to the web, its ICT minister said. Known as Project Loon, the technology was developed by Alphabet's X, the company's innovation lab. It was used by US telecom... 

Scientists hope test-tube embryos can save near-extinct white rhino

5th July 2018 Scientists have created hybrid embryos from the sperm of near-extinct northern white rhinoceroses in the laboratory, hoping they can ultimately help save the species. The northern white rhino is the world's most endangered mammal, and its only two living members are a mother and daughter, living... 

EU countries set for vote on steel import curbs on Thursday

5th July 2018 European Union countries will discuss and likely vote on Thursday on measures proposed by the European Commission to curb steel imports into the bloc, EU sources said. The Commission has proposed a combination of a quota and a tariff to prevent a surge of steel imports that is threatened, notably... 

Nigeria to offer 12.7bn naira mining contract to eight firms

5th July 2018 Nigeria will offer a 12.7-billion naira ($41.6-million) mining contract to eight companies in exploration and consultancy, its junior mining minister said on Wednesday, adding both foreign and local firms were encouraged to participate. Nigeria's economy, one of Africa's largest, has been built... 


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