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Reuters

Norsk Hydro's Q4 hit by restricted Brazil output, lowers dividend

7th February 2019 Norwegian metals producer Norsk Hydro warned it will miss its 2019 savings targets after falling well short of fourth-quarter earnings expectations hit by restricted output in Brazil and higher costs. Underlying operating profit fell 85% to 534-million Norwegian crowns ($62.48-million) versus... 

Ethiopia finalising mining industry reforms – minister

6th February 2019 Ethiopia will finalise reforms for its underdeveloped mining and oil sectors within the next two months as it seeks to encourage more foreign investors, its mines and petroleum minister said on Tuesday. The country has already cut taxes for mining companies in recent years but the government... 

Bushveld Minerals hopes to list in Johannesburg by Q3

6th February 2019 London-listed Bushveld Minerals , which has vanadium mines in South Africa, said on Tuesday it planned a to list on the Johannesburg Stock Exchange by the third quarter of this year. Bushveld Minerals, which has vanadium operations in South African and coal operations in Madagascar, said the... 

Congo 2018 copper output up 12.9% to 1.2Mt – Chamber of Commerce

6th February 2019 Copper production in Democratic Republic of Congo, Africa's top producer, rose 12.9% in 2018 to 1.2-million tonnes, the Chamber of Commerce said in a presentation on Wednesday. Output of cobalt, a key component of electric car batteries, rose 43.8% to 106 439 t, while gold production increased by... 

Angola's Endiama sees diamond output rising to 13.8 Mct by 2022

6th February 2019 Angola's State-owned diamond firm Endiama sees production rising to 13.8-million carats in 2022 compared with 9.5-million carats forecast for this year, a senior official said on Wednesday. Production in 2018 was 9.4-million carats, Endiama's director of geology, Kapingana Mandavela, told an... 

Germany presses for changes in EU competition rules after Siemens/Alstom deal blocked

6th February 2019 Europe should change its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States, German Economy Minister Peter Altmaier said on Wednesday. Siemens and Alstom's plan to create a European rail champion... 

Australia miner Independence says in talks with potential buyers of battery chemicals

6th February 2019 Independence Group, an Australian miner looking to move into making chemicals used in electric vehicle batteries, on Wednesday said it was in talks with a range of potential buyers of those products. The mid-tier miner trialled production of battery chemical nickel sulphate in December and... 

Glencore says heavy rain disrupts operations at two Australian coal mines

6th February 2019 Global trader Glencore said on Wednesday that production at two of its Australian coal operations has been affected by heavy rain that has caused flooding in northern parts of Queensland state. "We have experienced short-term production impacts from heavy rain at our two most northerly coal... 

Sumitomo books $137m one-off losses on Ambatovy nickel project

6th February 2019 Japanese trading house Sumitomo Corp booked one-off losses of about 15-billion yen ($137-million) on the Ambatovy nickel/cobalt project in Madagascar in the October to December quarter and cut its nickel output estimate for the current year for the project. The losses include about 10-billion... 

Zambia receives bids for stake in State mining investment arm

5th February 2019 Zambia has received bids from Canada's First Quantum Minerals (FQM) and others for a 17% stake in state mining investment arm ZCCM-IH, the finance minister said on Tuesday. "There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions,"... 

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