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In Ecuador, landmark court cases challenge mining projects

5th November 2018 Ecuador is facing a lawsuit this week for giving mining companies exploration rights to a protected forest in one of the country's most biodiverse regions without local consultation. Brought by the local Cotacachi government, the lawsuit requests the regional court place an injunction on all... 

Copper, gold mines now likely cheaper to construct than to buy

5th November 2018 The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research. Data shared with Reuters support comments from major miners,... 

After Alaska's 'Burning Man for salmon', fishermen wary of mine proposal outcome

5th November 2018 As the commercial fishermen who ply salmon-rich, southwestern Alaska pack away their fishing gear for the winter, many are watching anxiously as a controversial mine proposal moves through the federal permitting process. On Tuesday, Alaskans will vote on an initiative that, if passed, would set... 

Barrick in talks with Newmont to combine Nevada gold operations – source

5th November 2018 Barrick Gold, which is being formed by Barrick's $6.1-billion takeover of Randgold Resources, is in talks with Newmont Mining to combine their Nevada gold mining operations, sources told Reuters. Last month's tie-up between Barrick and Africa-focused Randgold Resources revived speculation about... 

Zimbabwe to announce winning bidders for mining assets in two weeks

5th November 2018 Zimbabwe will announce in two weeks the successful bidders for assets owned by state-owned mining company ZMDC, including gold mines, the mines minister said on Monday, adding more companies would be put on sale at the end of November. Selling struggling State-owned companies, known locally as... 

Nigeria's NNPC says Shell, ExxonMobil also looking at crude swaps

5th November 2018 Nigeria's state oil firm NNPC could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official said on Monday. Nigerian National Petroleum Corporation (NNPC) announced last Wednesday that it had signed such a deal with BP and would... 

Rusal appoints CEO, Q3 profit up as sanctions postponed

5th November 2018 Russian aluminium giant Rusal has appointed a chief executive, it said on Monday, after reporting a 42% jump in third-quarter recurring net profit on the previous quarter as sanctions imposed by Washington were postponed. The US Treasury Department in April blacklisted billionaire Oleg Deripaska... 

BHP's runaway train damaged after 92-km run, Australia starts probe

5th November 2018 A train loaded with iron ore and operated by BHP Billiton ran away without a driver for 92 km before being forcibly derailed in the early hours of Monday, the company and Australian authorities said. As a result, the world's biggest miner had suspended all Western Australian iron ore rail... 

DPE says State airline should prepare for equity partner

5th November 2018 The Department of Public Enterprises (DPE) said on Sunday that struggling State-run South African Airways (SAA) should reduce its cost base and prepare for a strategic equity partner in the near future. Finance Minister Tito Mboweni had said on Thursday that SAA, which has not generated a profit... 

Private-sector activity shrinks at fastest rate in 4 years in Oct – PMI

5th November 2018 South African private sector activity shrank at the fastest rate in over four years in October as sharp declines in output, new orders and export demand saw firms cut back purchasing amid a recession, a survey showed on Monday. The Standard Bank Purchasing Managers' Index (PMI), compiled by IHS... 

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