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Reuters

India's steel minister wants import duty on coking coal scrapped

13th September 2018 India's steel minister said on Thursday he wanted the finance ministry to scrap the 2.5% duty on imports of coking coal, a key steelmaking raw material, to limit input costs. "We are pursuing a cut," Chaudhary Birender Singh told reporters. "We want to make it zero. It cannot be 2.5% to 2%." 

Barrick to eliminate innovation role under decentralisation

13th September 2018 Barrick Gold Corp will eliminate the executive role of chief innovation officer (CIO) as part of a broad decentralization push, the company said on Wednesday, adding that it will continue to work on innovation and productivity improvements. Barrick did not officially announce the change, which... 

Nickel price to benefit from short supply, strong steel demand through 2019

12th September 2018 Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019. Nickel, which recently hit its lowest since December, could climb as high as $16 000... 

Mercuria to grow iron-ore business with major financing of US mine

12th September 2018 Global commodities trader Mercuria Energy Group is expanding its iron ore business with a $650-million financing package for US producer Mesabi Metallics in exchange for a majority stake in the firm, Mercuria said in a statement on Wednesday. The Geneva-based firm said it had signed a memorandum... 

Gold slips amid US-China trade war concerns

12th September 2018 Gold fell on Wednesday, but remained stuck in a narrow trading range as investors worry about a simmering trade war between the United States and China. Spot gold was down 0.3% to $1 193.61 an ounce at 1200 GMT, after hitting its lowest since Aug. 24 at $1 187.21 on Tuesday. US gold futures eased... 

Many parts of the world not ready for super fast 5G network – MTN's CEO

12th September 2018 Many parts of the world are not ready for next-generation 5G network but would likely be ready to embrace the super-fast technology in the next few years from now, MTN's chief executive of said on Tuesday. 5G networks, now in the final testing stage, will rely on denser arrays of small antennas... 

South Africa's iron-ore railway to be shut down for annual maintenance

12th September 2018 The main railway line along South Africa's iron-ore corridor will be shut down for annual maintenance from September 26 to October 2, State-owned freight logistics firm Transnet said on Wednesday. The railway line that stretches up to 861 km (534 miles) from iron-ore mines at Sishen in the... 

Congo Mines Minister insists no compromise on new mining code

12th September 2018 Democratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question. Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry... 

EU's Juncker eyes Africa free trade pact

12th September 2018 The European Union (EU) should offer a free trade agreement to the whole of the African continent and a new investment alliance, European Commission President Jean-Claude Juncker said in a keynote speech on Wednesday. Among various proposals for EU action to bolster prosperity in the world's... 

Polyus on track to boost gold output in 2019

12th September 2018 Polyus, Russia's largest gold producer, is on track to boost production to 2.8-million troy ounces and to reduce its capital expenditure in 2019, its CEO Pavel Grachev told Reuters. Its 2018 production is on track to reach the upper end of its forecast range of 2.375-million to 2.425-million... 

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