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Reuters

Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine

1st July 2018 Indonesia's state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia's eastern-most province of Papua, Grasberg, the world's... 

Huge Brazil tax liability slows sale of funds' Vale stakes – sources

29th June 2018 A potential tax liability in the billions of dollars is delaying the sale of major stakes in miner Vale SA by Brazil's largest pension funds, according to two sources with knowledge of the matter. Discussions over the tax issue are prolonging when and how pension funds are going to unload their... 

Kyrgyzstan's Parliament to review Centerra agreement in Sept

29th June 2018 Kyrgyzstan's Parliament will review in September an agreement that settles mutual claims with Canada's Centerra Gold, after which environmental payments by the company might grow, Parliament speaker Dastan Jumabekov said on Friday. The Central Asian nation's government and Centerra, which... 

Rio Tinto ready to splash out on copper

29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

Nigeria's finance minister questions NNPC remittance to government

29th June 2018 Nigeria's finance minister said on Thursday proposed revenue payments by State oil company NNPC to the government account were unacceptable because they were less than expected in view of raised crude oil prices. Kemi Adeosun, told the National Economic Council advisory body the company's... 

World Bank approves $2.1bn loans for Nigerian projects

29th June 2018 The World Bank said on Thursday it had approved a total of $2.1-billion in concessionary loans to fund projects in Nigeria aimed at improving access to electricity and promoting governance. The projects approved by the International Development Association (IDA), the bank's low-interest arm, are... 

Slim's Minera Frisco, Goldcorp agree tie-up in Mexico

29th June 2018 Minera Frisco, a mining company controlled by Mexican tycoon Carlos Slim, said on Thursday it had struck an exploration agreement in Mexico with a local unit of Canada's Goldcorp in which the two would be equal partners. The agreement was to explore for, and if possible, exploit minerals in... 

Eskom raises wage offer to unions – Numsa

28th June 2018 South Africa's State power utility Eskom has raised its wage increase offer for this year to 6.2% from 4.7% previously, the National Union of Metalworkers of South Africa (Numsa) said on Thursday. Numsa said in a statement that three unions negotiating with Eskom were demanding a 9% increase in... 

Exxaro expects H1 thermal coal output to rise 1%

28th June 2018 Exxaro Resources Ltd expects coal production for the half year to June 30 to increase by 1.7% to 23.52-million tonnes, the South African coal miner said on Thursday. It expects thermal coal output to rise by 1% to 22.307-million tonnes and metallurgical coal to increase by 12% compared with the... 

Class action lawsuit filed against South Africa's Sibanye-Stillwater following fatalities

28th June 2018 A US law firm has filed a class action lawsuit against South African miner Sibanye-Stillwater on behalf of shareholders to recover losses suffered after a spate of deaths at its mines triggered a sharp fall in its share price. Bernstein Liebhard said in a statement the suit would deal with... 

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